The 50-pesos Savings Challenge

So, I know the first half of the year is almost over. Still, I thought why not start another challenge?

During the New Year, I listed a lot of resolutions. Most of them include new fitness regimens, travel plans, social events, and of course, saving challenges!

Earlier this year, my office mates and I started the 52-week saving challenge. Anyway, the story’s for another blog post. So, I guess my savings for the year is on track. Still, I wanted something new again.

“If you would be wealthy, think of saving as well as getting.”

—Benjamin Franklin

Somebody posted this 50-pesos saving challenge on Facebook earlier this year and it got viral. The idea is, every time a 50-peso bill crosses your palms, put it aside. Treat it as invisible. Un-spendable. Do not spend it. Do not use it. Put it away and don’t look at it.

Sounds easy, right? I decided to do it. At first, I thought, why not be more aggressive? Why not do it with 100-peso bills?

I decided against it. P100 is too high. I’ll end up not spending anything at all.

I also cannot do it with a 20-peso bill. My daily transpo is P20. If I set aside every P20 I come across, I’d have to break every P50 I meet, or every P100.

So, I decided on 50-pesos.

I started “collecting” P50s on June 7. Today, June 13, I’m up to 10 pieces of P50s. Not bad. I’m putting them in P50-worth pouch with the tag still on it. Cute, right?

After three months, I will update you on my progress.

What about you? What saving challenges are you doing this year? Let me know in the comments. See you in three months! ☺

 

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