It’s 2019 already, guys! Were you able to fulfill last year’s goals, especially about savings?
Many of us make new goals and resolutions at the start of another new year – and a lot of these goals often involve 1) savings and 2) losing weight.
When it comes to actually fulfilling these goals, what’s really important is that you make the first step. It doesn’t have to be a big leap but that first step is crucial in ensuring you try your best to reach your goals.
Year after year, financial literacy Facebook page PESO SENSE shares various ‘ipon’ challenges to encourage people to save up. You can still use those old templates for saving money, of course, but the page has new options for 2019.
Individual ‘Ipon’ Challenge
Similar to last year’s variant, the ‘ipon’ challenge for 2019 makes it much easier for you to keep track of your savings goals by using shading methods.
But this year’s option is much easier to fulfill because it involves more paper money of lower values. Instead of saving up 20 pieces of Php1,000 in the 2018 challenge, the new challenge only requires you to save 10 pieces of that paper bill. Meanwhile, instead of 30 pieces of Php500 bills, you only need 20 of this amount.
However, you need to save up more of the smaller paper bills.
If you only needed 70 pieces of Php20 bills in the 2018 challenge, the 2019 challenge requires you to save 500 pieces. In the same manner, the Php50 bills increased from 60 pieces to 200 pieces.
But it seems that this challenge is more achievable, considering that many of us could easily spare those smaller bills and save these up rather than part with a Php500 or Php1,000, right?
If you follow through this challenge, you will be able to save Php60,000 at the end of the year! Wow.
‘Ipon’ Challenge for Couples
There’s a new variant introduced this year: the couple’s challenge. Here, you and a partner could save together. Of course, you need to plan this out carefully to ensure that both of you will try to save money and to not get any of the saved amount, considering that there are two of you doing the challenge together.
If both of you could save up based on the plan, you would be saving a total of Php68,400 at the end of the year.
Which of the challenges will you be doing this year?