Small Steps, Better Savings: How to Finally Get Started on Your Ipon , GCash makes saving easy and convenient with its new GSave Tab and Auto-Save feature

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Ever dreamt of going on a vacation, upgrading your phone, or sprucing up your home? While life can throw unexpected challenges like bills, emergencies, and holidays, it's still possible to save.

Saving can be challenging for some, often due to low income or not knowing where to start, but with a clear goal and the right tools, you can finally get started on saving for anything, no matter how small you start.

The Power of Small Steps

Many think “What’s the point of saving when I don’t have much to save anyway?” A big target money can be empowering to some people, but setting overly ambitious savings targets can be difficult to maintain, leading people to give up altogether. The most important thing is to get started – after all, setting aside an amount is better than nothing.

Even a small daily saving of PHP 10 can grow significantly over time. In just one year, you could have over PHP 3,700 if you keep it in a savings account that yields 4.5% per annum thanks to the power of compound interest. The interest you earn is added back to your starting savings amount, and then the interest is calculated based on the new, larger amount. Continue saving consistently for another year, and you get around PHP 7,800.

Habit-Stacking

Ready to start saving but worried about sticking to it? You can benefit from habit-stacking. While it takes time to learn to form a habit, there are just some things that feel automatic to us – something you can latch on to.

Habit-stacking is a technique where you attach new habits to an existing routine. It’s like adding a little extra to something you already do daily. Is buying coffee a part of your daily routine? Set aside PHP 10 each time you grab a cup. Before you know it, you’ve saved enough for a new coffee maker.

An Easy Tool for Saving

Overwhelmed by the entire concept of saving? No matter your goals and amount, it’s easy to start when you have the right financial tools, like your trusted e-wallet. GCash has partnered with reputable bank partners so you can get started through your phone and experience a zero-effort way of saving. GSave is a savings marketplace where you can grow and secure your funds while earning interest of up to 6% per year.

With GSave, it’s now easy to open a bank account. You can select your preferred bank of choice with just a few taps, so you no longer need to go to a physical bank and fill out complicated requirements. The best part? You can easily make small deposits anytime, anywhere – even as low as PHP 10!

The Savings Tab on the GCash app lets you see all your savings in one place, making it easy to track your progress. Its Quick Save feature lets you quickly deposit funds from your GCash wallet to your savings account on GSave – no complicated steps required.

To make saving even easier, the GSave Auto-Save feature lets you set a preferred amount and schedule, so your money is automatically transferred to your savings account. This way, you can save effortlessly.

With these helpful techniques and tools, you can now begin your journey towards saving. Start by setting aside a small amount each day, use habit stacking to make it easier, and take advantage of the convenience of GCash with its GSave Tab and Auto-Save features. With consistent effort, you are well on your way to your goals. Kaya mo na! Madali na magsimulang mag-ipon with the new GSave tab!

Ready to grow your money? You may access GSave through the GCash dashboard or find it under “Grow.” No GCash yet? Download the GCash App on the Apple App Store, Google Play Store, or Huawei App Gallery. Kaya mo, i-GCash mo!

How do you spend your first paycheck? A finance expert weighs in

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When one begins to start earning their own money, one of the most daunting tasks is learning how to manage it. Senior Financial Advisor, Certified Associate Financial Planner, and content creator Antonette Aquino shares tips on how to build good financial habits for yourself as early as your first job, or if you’ve been working several years and want to improve on your money management:

1. Prioritize spending on needs and avoid splurging on things that will not bring you value in the future. Aquino also says that we can treat ourselves once in a while to enjoy the fruits of our hard work…for as long as it doesn’t jeopardize our future.

2. Pay yourself first. Before paying for bills, commit to setting a percentage of your income to savings and investments. This includes putting money into your investment accounts and buying insurance. Make sure to do this consistently!

3. Use the bucketing method to separate your finances. For people who are still trying to get the hang of saving, Aquino recommends trying out the bucketing method which allows you to have a clearer view of your spending and saving habits when all your funds are separated. Instead of having all of your money in one savings account, It is best to have four kinds of accounts:

1. Operating Fund - Allocate money for recurring expenses such as quarterly, monthly, or annual bills in this account.
2. Emergency Fund – Allocate 20% of your income to this account for unforeseen expenses such as a medical emergency or a job loss.
3. Financial Freedom Fund – This account is for the achievement of life goals and dreams, which include retiring early or going back to school.
4. Happy Account – This account is for all of your leisurely expenses like travel. 

4. When you earn more, don’t immediately upgrade your lifestyle. If you continuously level up your belongings and lifestyle every time you earn more money, you will never be able to hit your targets. Remind yourself to live below your means until you’ve begun to hit them.

5. The longer you put off investing, the harder you’ll need to work to get to the same level of financial freedom as someone who starts investing earlier. If you start saving and investing as soon as you start earning, you will reap the benefits of financial freedom sooner rather than later.

6. The importance of saving money is simple: It allows you to enjoy greater security in your life. If you have cash set aside for emergencies, you have a fallback should something unexpected happen. Once you’re in the habit of saving, you’ll forget there was ever a time when you didn’t save. In this area of life, the habits you build will make all the difference.

Start your financial journey with GSave

For those who want to begin their journey to financial stability, look no further. GSave, the first-ever savings account which you can open and maintain on your GCash app, has now built the GSave Marketplace — helping you control your money conveniently through safe and secure digital banking.

The GSave Marketplace lets users select a bank partner depending on their needs. Whether it’s interest rate or account accessibility, GCash provides trusted bank partners for you, including CIMB Bank and BPI.

With CIMB Bank, your money can grow at 2.6% interest per year - one of the highest rates in the country.. Meanwhile, with BPI, users can now open a BPI MySaveUp account through the GCash App, allowing them to easily view their balance, deposit and withdraw at their own convenience. BPI account holders will also be issued an ATM card for their account, so they can access their funds via BPI branches and ATMs nationwide.

Following through with its promise to provide a hassle-free experience to its customers, all you have to do to start your banking journey with GSave is a valid ID to verify your GCash account. Through GSave Marketplace, users can rely on and easily access where users can choose from a variety of saving products.

Get started on your savings today with GSave!

To know more about the service, visit https://help.gcash.com/hc/en-us/sections/360004696233-GSave