How To Live Below the Means

 

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In the past couple of weeks, I have been joining Saturday virtual meet up of Sun Life's advisor. And one of the topic is about how do we do our own budgeting. 

To be honest, I no longer do the tedious thing of writing it down or listing my expenses in a day. Read my post about it here . Since, I already know our fix expenses every month, my salary every 15th and 30th are already allocated into it. Everything is now auto debited from my account including all the investment and savings that we have.

Did you know that during this pandemic, it makes more sense to me not to list down my expenses? Why?

I no longer go out which means there is no transportation cost. And because of the quarantine, the family is no longer going out and no more eating out. My husband only goes out once or twice a month to replenish our stocks. Most of the days, we are just at home and not spending anything. Funny, because at some point when I was starting with this journey to personal finance, I have set my self to shopping fast and even no spending weekend. But nowadays, there is no need for that. We are automatically cut out of spending. We don't buy new clothes, since working from home only requires me of house clothes. Our purchases are limited for food.  

I really think, I love just being at home. 

Let me go back to the topic of budgeting. 

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Since, it was our assignment to identify how do we budget, I then retract my expenses. I look back and found my spreadsheet of budget for the past years. Truth is, I was surprised to know that our living expenses doesn't change since 2018.How does it happen?

1. Debt-free. Yes, we don't owe any debt at the moment. And that is good thing, because it only means that we have retain our living expenses the same as 2018 because we are living the same frugal way. I inculcate in the family the value of wants versus the needs. No need to buy things on sale but we will never use. No need to buy new clothes because it is trendy but because old ones still fits and usable. No need to flash new things, just because everyone has it, but because we do not need at this time.

2. Windfalls goes directly to savings or investment. Yes, I don't touch any extra bonus nor surprise windfall. It will either go directly to my savings or investment.

3. Salary increase. From 2018, I received salary increase twice. What I did is the same - 10% is automatically deducted for my Provident Fund. I also increase my contribution of Pag-Ibig MP1 and also MP2. I also increase the UITF contribution and open another EIP subscription. With all these, it only means, that what I can see in my account during payday is the same amount I was receiving back in 2018.

4. Shopee income goes directly to my MF.

5. Online and offline selling income are extra money for me that I use for "cheat days". Of course, there should be cheat days. But since, we are on quarantine, it becomes a saving at this time. 

This didn't happen overnight. It took years to finally come to this terms. 

Living below our means has thought us that we can.Over the years, we are able to work it out. Not an easy task especially we have a little girl. But, constant reminder and talks and living by example also helps. 

Sometimes, I am tempted. But I just have to think more than twice what is the purpose of it and if it will be of real use to me. We practice the 7 day rule as well specially for big purchases. If there is a second hand item of lesser amount yet with the same usage, we'd go for that. 

Why Did I Chose Sun Life?

 

I embarked the journey to personal finance management in 2013. From the money-troubled life I had after college, this is when I started to reshape my knowledge about money. It wasn't easy nor a straight path to walk through. There have been a lot of frustrations in between. But my goal to provide security for my child is so huge that I needed to act quickly and precisely.

 Back then, I tried to learn personal finance through books, videos, and blogs. Today, this is still applicable. Yes, there are a lot of information especially now that we have access to internet where knowledge is literally at the tips of our fingertips. The only thing that will be hindering us from learning is motivation and willingness to learn. We just need to be discerning enough to know the difference. We have to do our due diligence to distinguish which is which.

For 7 years now, I am a policy holder of Sun Life. I've never failed any single premium payment. The first year, I got it, I was still in doubt if I had made the right choice. Yet, the peace of mind is unwavering that whatever may happen to me, I will leave something for my child. Yes, I have my own policy. I also got her. And my husband. Over the years, I needed to update my coverage. What I have gotten before is mainly for the whole life insurance. 

However, I am getting old and health is another factor I have to think about. That is why, before the start of this pandemic, I have gotten myself another policy. Glad that I did.

Where? Yes, Sun Life again. I am a satisfied client of Sun Life. I get to view the details of my policy online. I am updated with the latest since my email address is subscribed to Sun Life. I have hard copies sent to my mailing address for any important notices.

Now that this pandemic has turned away our face to face interaction, Sun Life has adopted to this new normal. Application can now be done through online. And e-policies can be provided. 

This pandemic may have hindered us going out, but this will not let us stop from securing our families. We should be working to help families get their future secured. Not only for the families they will left behind but mainly for themselves also. Life doesn't end when we stop working, that is why we need get our selves secured in our golden years. 

Health is not only when we are young but mostly we needed health protection when we grow old and unable to have an active income. 

Our child's education is another thing we should be thinking as well. Of course, we wanted our child to have a better education.

In every milestone of our lives, Sun Life will be there for us. 

Sun Life offers comprehensive whole life insurance, health protection, income protection, retirement, education, and estate planning. 

Yesterday is the best time to start. Today is second best. Start now. Let me help you. 

What This Pandemic Has Taught Me?

 

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We've been living in the countryside for 6 months now. Yes, regular na sa probinsiya. Finally, a breath from the city life.

Paano?

Thursday night of March 12, 2020, President Duterte announced that Metro Manila will be under quarantine starting March 15 for two weeks. I didn't get the chance to watch the announcement because I was too exhausted that day, I fell asleep as soon as I hit the bed at 8 in the evening. The following day, I woke up from a call from my mother, informing me of the  latest news.

I woke up my husband and told him about it. We decided right there and then that we need them to go home in our hometown province. Sa totoo lang konti lang iniuwi namin dahil ang sabi naman sa news, 2 weeks lang ang quarantine. We've weighed things lalo na at kailangan ko pa ring bumalik para makapag trabaho. Friday and Saturday are my restdays, kaya eksakto after ng breakfast at makapag balot, bumiyahe na kami. Took a grab from Muntinlupa to Pasay and then bus na pa norte. Sa bus pa lang, we are very careful na. Binilinan ko ng mabuti ang anak ko why we were doing it and why I will need to go back. 

All the while sa biyahe, iniisip ko kung tama ba ang desisyon namin na umuwi. Naisip ko na kailangan ng anak ko ito. She can't be confined in a small space lang. And city is still too crowded and yung supplies manggaling sa mga provinces pa. Although nakapag grocery na kami ng 2 weeks supplies, yung fresh goods ang iisipin pa namin.

Saturday, I went back to Muntinlupa City. Crying while in the bus. Already missing ang mag ama ko. Pero, of course, kailangan pa rin pumasok sa trabaho. 

Sunday, regular shift from 6 in the morning until 2 in the afternoon. Parang nag eescalate na yung issue and sa totoo lang kahit sobrang pagod ko, hindi ako makatulog.

Monday, regular shift pero there were news that we might no longer be coming to the office the following day. I wanted to go home right after the shift, as in probinsiya na pero I just can't kasi naghihintay pa ako ng advise ng office. Although, one of my co worker was able to bring home company asset as a dry run for work from home set up, I was hoping na mapagbigyan din ako. I commute to work so mas prone ako. Gabi na when I heard back from my superior na pwede na rin ako kumuha ng company asset to start working from home. 

Pagkakuha ko, senet up ko na rin agad. But the following days, ramdam ko na hindi ako productive. Everything is by typing or call. Hindi ako sanay. I'm used to communicating and coaching ng face to face. Hirap ako sa pag type lang to convey what I mean. Dagdag pa na as the days go by, namimiss ko na ng sobra ang mag ama ko. 

I thought, I could last for another week. Pero hindi pala. Yung news kasi it is getting worse na rin. Buti na lang, I have friends who has contacted a van who can take us to the province. Unfortunately, Pangasinan was very strict that time. They do not let anyone non resident of Pangasinan. Yung agam agam ko na hindi ako makapasok ng boarder grew intense while travelling home. 

True enough, Rosales boarder, di na pinapasok yung van. Bumaba ako at buti na lang merong barangay patrol na nagsakay sa akin hanggang Urdaneta Town Proper, dun na ako nasundo ng kapatid ko.Got quarantine for another 14 days before finally having the chance to hug my little girl.

Pakiramdam ko that time, para rin akong biglang namatay that I have left everything behind. Naiwan namin ang apartment as is. 

Ang bilis ng mga pangyayari.Yung busy life, naging laid back living in the country side. Nakapahinga kahit papano. 

Family is family. Hindi kami pwedeng magkakahiwalay. Kung nasaan ang isa dapat andun din ang isa. At dahil magkakasama kami lagi, we have seen the differences and begin to tolerate each other. We fought less na rin. We do the chores at home together. The good thing is we know the limit of each other. My not so little girl is enjoying the life sa province pero miss na rin makabalik ng city. For 6 months, nasa bahay lang din siya. Sa bakuran lang para makapaglaro at makapag bike.

Importante na merong  emergency fund. Kahit tuloy tuloy ang work ko, I know hindi lahat ganun ang naging situation. Emergency fund is a big help during this time. Dito mo ma appreciate na buti at nakapag tabi ka nung time na normal pa ang lahat.

Personally, ako hindi ako nabobore ng nasa bahay. Later on kasi ng quarantine life, na adapt ko na at mas prefer ko na nasa bahay lang. Tipid na sa pamasahe. Tipid pa sa damit. Saka hindi magastos overall kasi hindi nakakapagmall. Only yung essentials din lang ang binibili. Yung work from home, nakuha ko na rin ang rhythm ko when it comes to working and how to stay productive sa work.

I love staying at home ever since I was a child. Homebody ako at may I say, mahiyain naman talaga ako sa personal. ;). Maraming pwedeng gawin at pag aralan habang merong extra time. Yung mga skills na akala natin di natin kaya, kaya pala. Magluto. Magbike. Maglinis ng bahay. Magbasa ng mga libro. Ayusin ang finances. Mag invest.

Create another source of income. Yes, while in quarantine pwede pa ring mag generate ng panibagong pagkakakitaan like more selling of essentials goods and food. Pwede rin yung na bake mo na or yung passion mo to cook maging source of additional income.

It is a matter of perspective. But let me tell you this, this didn't come to me in the earlier part of the quarantine. I was one of those people who were not okay. I have this anxiety of what will happen next. I have fears of the day. I lost motivation. I literally stopped for a couple of months, before I pulled myself together. 

I prayed that I get over it because life goes on. My child is growing. The people around me are moving on. They are adapting. Why not me? That's when, things get better for me. I started working my crochet WIPs. I've reopened my Shopee shop after checking the available couriers in the area. I've reopened my Facebook page. I've started selling offline. I started reading again. I started learning again.

So yeah, I may not be as resilient as any body else at the start of quarantine, but I thank God for letting me see these things. Dati, pangarap ko lang ang mag work from home (see my post here Working on My Options), and be with my child, yet God made a way for this. Here I am working from home, doing my hobbies, learning, and most of all, I am with my family. Truly, God is faithful to our heart's desire. 

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