Friday, November 19, 2010

budget cut

on my way to work today, i noticed a tarpaulin hanging in front of the College of Pharmacy.  it read:
No to P1.3B UP Budget cut!

It got me to criticize once again the current administration and all the frustrating, almost laughably half-witted decisions they have been making, the most recent of which would be changing the Tourism slogan from WOW Philippines to Pilipinas Kay Ganda!  but then i decided it was unhealthy of me to do so.  after all, the more i think about how my own countrymen are trying to bring us down to the dumps, the more i might consider selling out my dreams and integrity just so i don't end up stuck in a country that's headed for the same state as Somalia.

So we focus on the idea of a budget cut itself.  now, i'm no economist.  in fact, the lesson i most remember back in Economy was that, in the Philippines, you could get something like a tax break for up to four of your children.  which means my dad gets tax deductions courtesy of me and my sisters, but not my younger brother (magastos talaga maging anak si Charlie).  But i digress.

Budget cuts are necessary, dear readers.  We're always advised to live within or even below our means; otherwise you'll end up in debt forever.  case in point: PH aka the Philippines.  i think, realistically speaking, the end of the world will come before we can pay off our debts and the interest it has incurred.  which is why it is important to stick to a budget.  just because our country can't do it, doesn't mean we have an excuse not to do so individually as well.  I'm no money guru and, admittedly, i still have trouble sticking to my budget every now and then (which is why my mom often calls me a hypocrite.  well, not to my face, but i know she thinks it).  But i do have some ideas nonetheless, which i try to live by. 

1) I try to estimate my annual income (make it a modest or low estimate, people!)
2) Then identify all the areas of my life that i spend on.  i try to think of my priorities and use that as a means to rationalize how big or small my budget for certain categories are.  of course, that's not always applicable.  like, i say looks don't matter that much but i still had some difficulty laying off the shoes.
3) I keep track of my expenses and revise my budget as necessary.  if I end up spending too much on clothes, i might compensate for that by cutting down on gifts (sorry friends!)
4) Evaluate if there is a need for a budget cut, or an increase in income, or both--then do something about it!!  ever since i was a kid, i've always tried to be creative so i can earn some spending money instead of merely complaining that i don't have enough.  it feels really good!  but at the same time, i'm slowly learning to live on less and just save the money i earn or use it for something that will help me or someone else (i.e. education, outreach)

So, my point is really that the Aquino Administration should not rely on budget cuts (imposed unfairly on sectors that need it most), but also do more to increase the GDP per capita of our country.  after all, you don't tell a poor family  who can only afford 1 fish a day to keep living on that for the rest of their lives!  everyone in the household can probably contribute to help increase that number, so why not do something? :D

Tuesday, November 9, 2010

parsimonious

A.Word.A.Day
with Anu Garg

PRONUNCIATION:
(par-si-MO-nee-uhs)

MEANING:
adjective: Excessively sparing or frugal.

ETYMOLOGY:
From Middle English parcimony, from Latin parsimonia, from parcere (to spare). First recorded use: 1598.

Monday, November 8, 2010

am i an idiot?!

"Wise people live in wealth and luxury, but stupid people spend their money as fast as they get it."  --Proverbs 21:20 (TEV)

nagpaparinig sa akin ang Panginoon! haha. but seriously.  this past week, i've been acting like an animal cut loose from the zoo--shopping (almost) like there's no tomorrow.  It's almost Christmas and, instead of getting us gifts, Dad usually just gives us some spending money, on the condition that we spend it on apparel so we have something to wear during the holidays.

so, i bought a lot, trying to maximize my break from retail therapy fasting.  but afterwards i kind of felt sick and realized that i had somehow returned to my old ways.  even though i did try to think of what i could really use, i did get side tracked at times, and also bought some things which i'm sure would not last that long. 

so, for the next year, i have set some new shopping, or non-shopping, rules (after my Project 365):

1. DIY to death! and using existing materials first, rather than buying new fabrics, etc.  I'm not allowed to buy any more tops or yardage of fabric until i've completely exhausted all my existing resources (pieces i bought or stole from my mom's closet, telling myself i'd alter them to make like new)

2. stick to the list!  i'm going to write a very specific list of things that i can buy, and that's it.

3.  wait, then think.  i was very tempted to buy this pair of wedges at CMG on sale for P999. so sexy and seems versatile enough.  heaven knows i need variety in my shoe rack (they're all neutral, mostly black *sigh*).  but even though i relly wanted to buy those shoes, i've decided to put off buying footwear until i have a clearer picture of what i'll be doing next year, after my contract at UPM ends.  will i be going to school? will i be working for a broadcasting company or publication and, if so, will i be on the field or at the office?  will i be starting my travel show project with my friends?  will i be starting my own business?  will i be acting more (and in need of options for wardrobe)?

4.  NEED versus want.

5.  prioritize! and make your money work for you.  so looking good would be nice and i might need it if i'm gonna act more.  but i might not need it as much as tuition for school.  i may not need it as much as children need schoolbooks.  i really need to remember what's most important in my life and how i can use my little wealth to accomplish my goals and to help others.

Thursday, November 4, 2010

coming up

sorry about the complete lack of posts lately. been quite busy.  not too busy to be frugal, on the contrary in fact! just too busy to blog about it.  here's what you can expect soon:

my current projects:
since necessity is the root of all invention (or something like that), i came up with 3 new articles of clothing! the first is a modern white button-down which i turned blue, the second is a green maxi dress using fabric i already had (it's just practice for the blue one that i really intend on wearing but i'm writing it down here to make it look like i've been extra productive), and the third (my favorite) is a top inspired by an alexander mcqueen dress worn by drew barrymore.  i'm really excited to wear the last one! the first, i already have 2x, the 2nd, i can't figure out when to wear hahahha.

Christmas shopping:
so, as predicted, my dad is giving me a bit of shopping money for Christmas.  mukha na daw akong pulubi joke!  but i plan on using this wisely.  i've already spent almost a quarter of it (i'll show you on what), so i'll be listing the stuff i plan on getting too. 

Christmas gift ideas:
i didn't anticipate this, but i've all but used up my gift budget for the year--and it isn't even Christmas yet!  i have so many wonderful friends that i couldn't help but show them my appreciation earlier in the year.  so now i need to get creative (fast) for the yuletide season.

Wedding planning:
no, i am not not single anymore.  i'm referring to my ate but since i am helping her with the details, i figured i could post something about frugal weddings.  not that that's what my sister is gonna do--she can afford to go all out.  but i'm anticipating that i either won't have enough resources or won't want to spend that much on a grand event.  simple is good, but also difficult (especially when your family is as big as mine).  so we'll talk about tips and ideas on making it a fab and frugal affair all the same, without hurting anyone's feelings.