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On Money and Saving

Wednesday, March 6, 2013

My sister recently realized she had a few thousand pesos lying around in her room. She was hiding it (for God knows what!) and totally forgot about it. She realized, money lying around doing nothing is a waste of perfectly great currency. So what she did, she opened an account. At first it was an ordinary savings account - then she realized that a time savings is better in terms of interest. Of course, your money is tied down longer and you cannot withdraw that but then if you don't need the money then this is the better option, hands-down. Then if you don't want to put all your eggs into one basket - you can invest in annuity. Read up more about it in their homepage but you can save your money there and then when retirement comes, you can plan to cash out your income from this for a guaranteed period of time or whichever you please. As a woman, it is difficult to save - there's bags, shoes and makeup to splurge on but don't forget to save up for the rainy days.

 

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