How to Budget Fast | Money Jar 🏺 | High 5 Banking

Hi! It's Cha.
I share practical steps that have helped working-class Filipinos catch-up with bills and financial goals faster.
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📌 Common Pinoy Problem: Payroll Account
One account for ALL transactions. Akala ko kapag pinagsama ko ang Needs, Savings and Wants sa iisang account, I was saving myself time.
Yes. I saved on time. But I was losing money.
Month 1, I have a perfectly curated budget.
A few months in, I get overwhelmed.
I didn't know where my money was going. I wanted to break the cycle.
✨ My goal is to create a system so simple, with the least possible effort. ✨
Sabi nga ni Tito James Clear aka Atomic Habits guy: Make it fast. The lesser the time it takes you to finish a task increases the possibility of you doing it again.
🏺I applied the concept of Money Jars. I started categorising my expenses. % are for illustration purposes only. Mine's different 😅
1. Necessities Jar - 50%
2. Long-term Savings for Spending Jar - 10%
3. Freedom Jar - 10%
4. Education Jar - 10%
5. Play Jar - 10%
6. Give Jar - 10%
I have subcategories per Jar, but that's for another story. For now, lemme share what I did.
I started maximizing all my existing Bank Accounts. I started naming them individually. Then, whenever my salary comes in, I would transfer % of it to my other accounts.
1. Needs Account - PNB
2. Long Term Account - Digital Bank with High-interest Rate
3. Freedom Jar - UB (USD) and BDO (PHP)
4. Education/Play Jar - eWallets (GCash & PayMaya)
5. Give Jar - BPI
Notice that items 1, 3 and 5 are major traditional banks with relatively low to almost no interest at all - mainly for fund transfers, bills payment and linking to my investment accounts. These are also linked to my CCs making it convenient for bills payment and rewards accumulation.
Item 2 is for safe keeping money for future use. This is money you will SPEND someday. I may or may not need it sometime soon so it needs to be somewhere with moderate accessibility.
If able, create subaccounts or stashes under Item 2 like:
2.1 Home Improvement
2.2 Gadgets
2.3 Vacation
Item 4 is for Self-help. For this, I use prepaid eWallets. This way, there's only a predetermined limit to my spending. Even if I end up emptying these eWallets, I know for sure I didn't hurt my budget.
4.1 Education is not just school tuition fee. This includes personal & skills development, for feeding our creative juices.
4.2 Play Jar is money I HAVE TO SPEND.
🏺 One account, one category.
💌 One envelope, one category.
If you don't have multiple bank accounts yet, you can use cash 💸 envelope system.
This system helped lessen the time I spend assessing my actual cash flow. Every month, I only look at the beginning and ending balance and I know immediately what category I spent my money.
🎁 Good news: There are accounts with STASH or sub-accounts feature.
Ikaw? Ano prefer mo?
STASH OR CASH?
With love,
Cha Gomez
⎯
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[@caseybarredo6441]

I’m using UB and mas easy sya. Anytime if may extra pwede ko e top up kaya lng kaka start ko lng last month. The past few months I was using piggy bank pero pag nagkaubusan ng funds wala pa rin kikuha ko yung laman🤣 mas covenient if stash kasi yung mindset ko no money na talaga mapa atm or sa wallets ko. Sana nag start ako nito earlier para mas malaki nasave ko :(

[@ChaGomezYT]

Hello Casey! Wag ka mag worry, lahat naman tayo, we have to start somewhere. You're just in time, Casey!

[@belavlogs5674]

Tanong ko mam kung san po pwede mag loan pag lupa lang po bibilin?