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!
