3 Saving Styles That Don’t Require a Bank Account

3 Saving Styles THAT DON'T REQUIRE A BANK ACCOUNT Alhansya Also known as a piggy bank, this is the most familiar way of saving and a staple of every childhood. As a kid, you might have used it to keep the coins given to you by your relatives. As an adult, it's still a great tool for saving a bit of money. Where to get it It doesn't have to be shaped like a pig; any container that has a slot, and an opening to allow you to get the money will do. V How it works It's as simple as dropping any loose change or small bills. If you picked a container that isn't transparent, you won't know how much is in there until you open it up and count. What it's good for It's a valuable teaching tool, and somewhere you can toss all your loose change. An alkansya can function as a beginning to the habit of saving. Envelopes Most businesses use envelopes to separate cash for particular transactions. It also works as a way to segregate your finances. UTILITIES Where to get it Envelopes of any variety are available at your local bookstore. You can also color-code your envelopes for easier segregation, and mark them with the amount you ordinarily allocate for their purpose. GROCERY / How it works You can allocate your income according to its purpose. For example, specific amounts for groceries, bills, and savings. This way, you only take a specific amount of money when you go out for errands. The envelope marked "emergency fund", or "dream vacation" is basically untouchable until the amount is reached. What it's good for Envelopes prevent you from taking out more money than you need to for any particular errand. It helps you divide your funds into specific purposes, and ensures that you know exactly where your money is going. SAVINGS Money fars This method of saving might be familiar if you watched Pixar's "Up". It's a method that uses large, transparent jars to let you see how much progress you've made as you fill it up. Where to get it Any properly washed glass jar will do. Tape a paper marked with your purpose for saving or allocation to your jars. The bigger the jar, the larger the goal. How it works Unlike the envelope system, jars have narrow openings, preventing you from easily raiding it. For savings, drop the amount you have planned for the month, along with any spare change or loose bills that you pick up over the course of the day. You'd be surprised how much you can save at the end of a year. v What it's good for Jars, particularly large ones, let you feel that sense of accomplishment when you see it slowly filling up with money for your intentions, be it "emergency fund", or "concert tickets". Bonus You can get a printable online that details a 52-week saving plan to stick onto your alkansya, envelope, or jar. It involves saving money in increments of PHP 1, 5, 10, 50, or 100 per week of the year, with the value increasing per week, for example: Week Amount Total 3 3 These are just three saving styles that you can use. There are other equally fun ways that you can put your savings together, and budget your paycheck. Pick the one you think works best for you, and make it a habit. Sources: http://frugalbeautiful.com/blog/mason-jar-money-method-start-1-save-1300-year/ http://budgeting.thenest.com/organize-money-jars-out-debt-22471.html http://www.daveramsey.com/blog/envelope-system-explained http://frugalliving.about.com/od/moneymanagement/ht/Envelope System.htm http://www.usatoday.com/story/money/personalfinance/2014/04/20/adviceiq-the-piggy-bank-strategy7884993/ http://andyoz.hubpages.com/hub/How-To-Save-Money-With-A-Piggy-Bank-Or-Money-Box http://www.femalenetwork.com/girltalk/index.php/topic,289217.0.html MoneyMax.a We compare, you save 00