55 Best Money Tips in Your 20s – How To Save, Invest, Retire Early and More

May 25, 2018

55 Best Money Tips In Your 20sHi and welcome back to SavingsPinay!


In today’s post I give you the 55 best money tips on how to save, invest, retire early and more in your 20s.


20s is the perfect age to build wealth. Not only are you more active and motivated to succeed, but you also have a ton of opportunities to earn more, save better and spend less than the others.


To make it easier to read and digest, I divided this massive list of tips in the following categories:


1. Managing your money

2. Saving money fast

3. Making extra income

4. Investing and

5. Retiring Young and Rich


I hope you enjoy this post and apply each and every tip on your own journey to financial freedom.


Related Posts:

8 Smart Money Moves To Do In Your 20s

40 Financial Habits for Life You Really Need to Know

Blogs To Read If You Want To Save, Invest and Be Debt-Free This 2018


How To Manage Your Money in Your 20s


As early as possible, learn to manage your money well.


Taking control of your finances may seem like a tedious process and a daunting task. But I assure you that having a clear mindset when it comes to your money will bring you sanity.


Change one habit at a time and say yes to financial freedom. Keep going and make today count. Here are some ways you can manage your money better in your 20s.


1. Track Your Spending


Make it a habit to list down all your expense, small or big from the start of the day until the end of the night.


Use a simple tool like a notebook or the notes on your phone or even a legit mobile up to do the tracking.


Having a list of what goes out from your cash flow will give you the sense of knowledge whether you are spending above your means. It will also help you realize where exactly your money is going.


Check out these two posts about the trackers I use: DIY Notebook | Notebook with Expanding Envelope from Landmark


2. Create a Budget


I can’t stress enough on how important a budget is when it comes to managing your finances.


This is one of the best financial habits you must master to get out of debt and take full control of your money! There are a ton of effective ways to budget you’ll find on the internet.


But, my most recommended are as follows:


1. Envelope Budget. With an envelope budget technique, you will need any envelope to place your money with. Each envelope corresponds to your budget category. I, for example, will have an envelope for transpo allowance, food allowance, bills, miscellaneous, savings and investments. From there, I will start allocating how much my budget will be.


2. Notebook Budget. This works with any any notebook or together with your spending tracker. You will create simple columns for your budget categories, your budget amount and your actual expenses.


3. Printable Budget. You can search for free budget templates in the internet suitable to what you need. Working with templates will simplify your budgeting routine because all you have to do is fill up the details.


Read Next: The 50-20-30 Rule of Budgeting  


3. Develop a spending plan


Now that you know the financial habits of tracking your every day expenses and creating a monthly or weekly budget, next to be discussed is a spending plan.


Spending plan works as your schedule when you will purchase something whether big or small. Dedicate a separate calendar for this and mark the days of your paydays and when you need to top up your savings, invest in stocks, pay your bills, get a pamper day, do grocery shopping and/or buy your toiletries and supplies.


It is ideal to keep a record on how you will spend your money on six-month basis so you are guided spending every bit of your money.


4. Avoid debt


Avoid being in debt no matter what. As soon as you are able to take charge and ultimately pay your current debt, do your best not to be in any debt anymore.


Being in debt is an awful and stressful situation. It will keep you awake at night thinking how you can pay for tomorrow. You owe it to yourself and to the person or entities you credited for, to pay.


Taking charge of your debt will enable you to have positive finances once and for all.  And this is one of the best financial habits you should follow.


Be cautious on your spending and try live a simple lifestyle.


Remember that it is easier to save and invest when you don’t have any financial obligation.


5. Live a frugal life


Frugal living is all about being careful on how we spend our money. It is finding happiness in spending less than what one will normally spend.


Spend less than you earn so you are also able to use the excess to pay debt or invest.


There are plenty of ways you can live frugally but the most common and the easiest will be any of the following:


  • Pack your own lunch at work
  • Look for secondhand or used items first
  • Build a minimalist wardrobe
  • Stop buying online
  • Cut your cable
  • Commute by bike
  • Cancel any monthly subscriptions you don’t really need
  • Go on budget-friendly travels first
  • Choose service water instead of ordering beverage


Live and stay frugal even if you have an option not to.


6. Follow the golden formula Income – Savings = Expenses


Make it one of your financial habits to save first before you allocate your income on your expenses.


Always follow the golden rule of Income – Savings = Expenses. This is one of the easiest way to pay yourself first.


Do this:


Every payday, transfer an amount to your savings or emergency fund first then go with the second most important item – your investments.  Then adjust what’s left to your expenses.


It will be hard at first but in the long run you’ll be able notice how massive the change it’ll bring to your cash flow.


7. Live below your means


Living within your means is one of best money tips you need to learn in personal finance.


It is making sure your expenses are below what you actually earn. Try to be intentional when making a purchase and ask yourself if it is something you really need or you just want.


8. Avoid impulse buying


One of the worst common money mistake everybody commit is making impulsive purchases. This is a situation wherein you make an unplanned decision to buy a product or service.  

Impulsive shoppers often than not find it hard to control their emotions when they spend.

But you can actually avoid being an impulsive shopper by trying the following:

  • Create a list before shopping for groceries
  • Avoid going to mall after work
  • Write what you want to buy on a paper. Keep that listed in the next 30 days. If you still like the item after 30 days then you can purchase it without much guilt.


9. Do the envelope setup for your allowances


Remember the envelope budget I mentioned earlier? Well, you can apply this in distributing your weekly or monthly allowance too.


For example if your budget is 90pesos a day on lunch at work then put 90pesos on five envelopes or 450pesos on a single envelope.


You are only allowed to spend based on your budget and how much you have on the envelope.


You can also do this on your other budget categories like transportation and grocery.


Read my thorough guide about Cash Envelope System for Beginners here.



10. Stop wasting your money


We all have excuses and reasons why we deserve a treat, a meal or a splurge on a particular day. Even though deep inside we know that we should be saving money instead of wasting it, spending just feels so good.


To avoid wasting your money, do mind over matter. Think about the bigger picture, your goals, your financial plans in life.


It is better to spend on experience rather than the physical things. If you can sacrifice some financial habits that waste your money then do it.


11. Splurge Intelligently


Once in awhile, we are entitled to splurge. This is not to let our finances suffer but rather to motivate us in achieving our financial goals.


  • Splurge on things that appreciates in value. Splurge in real estates and/or jewelries that will have a higher amount of value after. You may also try branded items for they still have competitive market value even after some years.


  • Splurge on moments that could lead to precious memories. Invest not just your money but your time on people you value. Be present at times when you are needed and try to  stay closer to your family, relatives, friends and others that are close to you. Remember the saying, “No one is an Island”.


  • Splurge in your health. I remember watching a Youtube video about the behind the scene in YG Family Concert where Sandara Park belongs to (part of 2NE1). On the said video, members Sandara and CL will drink their vitamins and use inhaler first before going to the crowd. CL even shared how much important their health is for them.


I feel reminded on how important it is to be healthy. My dad always reminds me to be extra cautious when it        comes to our health and say if and then we feel something wrong because once we get older for sure things will    manifest more and it might be harder to heal. Remember health is wealth.


  • Splurge on your tools. If you are a blogger you need to find tolls such as laptop, USB, external hard drive and even camera in order to completely do your thing. If you settle for equipment that doesn’t add value on what you do then you will surely lose your productivity not to mention how you will find yourself spending more money than what you should have done.


  • Splurge on your passion. What’s that one thing you are passionate about? My theme for 2017 is to hustle. I want to do more of the things that I love and those that makes me happy. Find out what your passion is and splurge you time pursuing it.


12. Keep it simple

Make sure that your budget works for you and not against you. It is very important to stay realistic on your spending habits and understand the urges you have when it comes to your expenses. Again, there’s no right or wrong type of budget as long as it is working.

13. Be open to changes and mistakes

Don’t be such a perfectionist when it comes to budgeting. Know that there will be bumps along the road. You will commit mistakes or a sudden expense will show up. It’s all part of the learning process. Soon budgeting will an easy thing for you to do.


14. Be ready to sacrifice

Be ready too to sacrifice at some point. You must depend your spending on your budget  and if would mean having no cup of latte on a Friday then so be it. Think of it this way, you are setting your pace for the future.



How To Save Money in Your 20s


There’s no mistake that learning how to save money each month is one of the fundamental step towards financial freedom.


Your savings could affect how you live your life, achieve your goals and shape your future.


15. Save early


“Tsaka na lang ako magsi-save pag may pera na ako”


Now that’s a lie!


If you don’t start saving your money now then you are missing a big chance of a better tomorrow. The earlier you save the better because of compounding!


  • Save and invest as early as possible in your working life. No matter how small or big the amount is.
  • Invest in stocks, mutual fund or any instrument that can give you positive return of investment over time.
  • Do it long-term. Like in the next 20-30 years


16. Save Automatically


The easiest and most effective way to save is to do it automatically. Transfer a fixed amount from your paycheck to your other savings account. Most online banking in the Philippines offers this option so all you have to do is apply.


Why should you take advantage of automation when it comes to saving money?


First and foremost, it follows the golden rule Income – Savings = Expenses


Second, it prevents you from spending your money elsewhere.


17. Save based on your salary


The higher your salary is the bigger your savings should be.


Don’t let the additional spending power you have cause you to lose money. Continue saving and living within your means even if you just made a salary increase.


18. Pay Yourself First


One thing you can today that your future self will thank you for big-time is saving. Pay yourself first no matter what.


Right after you receive your paycheck, SAVE a portion and leave it in your payroll account or dedicated savings account.


Imagine if you save 500pesos every paycheck it will be 1,000pesos a month or 120,000pesos in 10 years. That’s for saving just a tiny portion of your income. How much more if you religiously save 2,000pesos, 3000pesos and even 5,000pesos a month?!


Make it part of your habit to save automatically. This will make you better in managing your finances.


Step 1. Choose an account separate from your payroll to automatically save I explained this technique further in my post The One Thing You Can Do Today To Start Saving Money.  You may choose to open BPI Direct Save Up Plus Insurance or just a common savings account. The deal is that it has to be separate from your payroll account.


Step 2. Determine how much you would like to save each pay day/month and how frequent you will be saving. Try to assess how much your income is and how much you can commit for your savings fund. For me its 1000pesos a month and a goal of top up every year.


Step 3. Do it Automatically. Apply for e-banking to easily save automatically. the saving automatically. Talk to your bank on how you can automatically transfer x amount of pesos to your separate bank account every x number of days. I did this before I closed my BPI Direct Save Up Plus Insurance and it is certainly helpful.


NOTE. Save a portion of your income automatically! I regret overspending during my first year of working. If only I saved as soon as my first paycheck arrived, I will surely have a better financial status today. So my important advice is to follow the golden formula of Income – Savings = Expenses.


19. Follow Paula from Afford Anything’s Anti-Budget Rule


How does the Anti-Budget Rule work?


Every payday remove 20% of your salary as your savings (This can be adjusted based on how much you can commit to save). Then you are free to do whatever you want for the rest.


In her own words:

  • Decide how much you want to save.
  • Pull this off the top.
  • Relax about the rest.


Because you already secured that 10% or 20% as savings you are pretty much okay to spend the rest.


The next best thing you need to do is increase your monthly savings rate.


20. Learn to Say “No”


The powerful two-letter word that can make a big difference in your everyday life is NO! You need to stop saying yes when you want to say no.


Most often than not we get caught in a difficult situation that involves money. A friend who would like to borrow, a family member who asks for a gift and so on.


Before you agree on anything try to assess first if it is in your budget. If it is not then politely say, no.


21. Avoid any form of bad vices


Vices like smoking and drinking can cut a big chunk of your overall cash flow so learn to stop any bad addictions. Instead of wasting your attention to these, make time for activities that will make you healthier.


Go to the gym, start running or running. Or better yet, use the time and money you will save avoiding your bad vices on making extra income instead.


22. Go for discounts and free stuff


Have you actually tried saving money when shopping? Do you use discount coupon when ordering online or booking online? Did you ever try signing-up for free stuff?


You can actually maximize being a consumer by doing any or all of the above. Try saving money and going on a shopping spree on year-end or month-end sales instead.


23. Stop impressing others


Trust me, impressing others will cost you more than you could ever afford. Just stop worrying about how others will perceive you.


As long as you have the basics done like good hygiene, good attitude and good relationship then you’re off to good start.


Trying hard to please your classmates, friends or workmates will not only ruin your finances but will also stress you out soon.


24. Start small


You don’t have to make it big at first. Always start with small and doable amount.


Psyche yourself and your wallet on saving 1000pesos every month for example. At the end of the year you’ll have 12,000pesos more on your savings fund.


Do not force yourself to save a lot of money at once, make it as gradual as possible so you won’t slack off midway.

25. Reduce your monthly bills


Now, if you really want to save money each month then you need to reduce your monthly bills. A sudden decrease on your monthly bills give you the means to save automatically.


  • Cut back on your energy consumption. Unplug electronics not in use. Spend less time on watching TV or being on the computer. Turn-off the lights especially at night time. Find appliances that have energy-saving features.


  • Reduce monthly subscriptions from cable TV, Netflix, magazine, gym membership or beauty box. Just focus on what you truly need.


  • Focus in paying your debt. Debt hinders you in saving money each month. Pay-off high interest slowly but surely. Avoid using your credit card and being more in debt. For personal loans try to negotiate with a lower monthly pay so not all your money go in paying.


Related : Pinoys Guide in Dave Ramsey’s Money Makeover


26. Join a saving challenge


A good way to force yourself to save money each month is to join challenges.


You see those testimonial pictures and videos of successful individual who manifest financial discipline and was able to save.


Among my favorite saving challenge are as follows:


  • The 52-week Money Challenge Rhea Mocorro of Kuripot Pinay localized the 52-week money challenge and became widely popular every year. The idea is very simple, on week 1 you save 50pesos, week 2 100pesos, week 3 150pesos and this continues to increase based on your starting amount until week 52. If you succeed your total savings for the whole year will be as high as  68,900pesos! You can read more about this in Different Ways You Can Apply the 52-Week Money Challenge


  • Invisible Money Challenge – I’ve done this challenge last year and is continuing it for 2017. It is very doable for those who want to save money each month. You choose an amount you will treat as an invisible money. For example every 50pesos that come in your hand/wallet are automatically considered as invisible money. You need to put those bills directly on your savings or alkansiya.


  • The Jar/ Bote Money Challenge Another viral saving challenge at the moment is the jar/bote. You basically dedicate a separate jar/bote for each of your saving goals. Put every amount you have from loose change to proper savings to each jar/bote as part of your short-term or long-term money cushion.


Related: 10 Peso Sense Ipon Challenge Stories


27. Invest in the basics


Don’t just go for cheap items but those that truly works and serves its purpose well. Before I always buy secondhand when it comes to clothing and then soon I realized that investing on great pieces work.


It turns out buying clothing, bags, shoes, makeup that suits me and works for me are way better than going for cheap items I don’t really like; just because I want to save.


28. Bring Cash instead of Card


In my Smart Shopper post I mentioned those who pay with cash rather than depend on credit cards are most likely to help you save. You are able to see as to how much is taken away from your kaban.


All you to is to plan your purchase, allocate money in cash for your spending and leave your credit cards at home so that you have no other choice but to buy with cash.


29. Make a List


Since I am a self-proclaimed list maker, I realize that writing down your expenses is very helpful. Make a list of before you go shopping and doing your grocery so that you have a basis on what you will purchase. You can use your Notepad in smartphone or a normal notebook for this trick.


30. Use the 30-day Rule


Another tip that I learned from top blogger, Mr. Leo of ZenHabits is that whenever you are tempted to make a big purchase write it down in a notebook. Now if after 30days you still have the same cravings for the said item then buy it. The waiting period will give you enough clarity and time to save for the amount of the item you will buy.


31. Bring Your Own Baon


I am not the best cook ever but watching quick breakfast and lunch ideas in Youtube led me to appreciate doing your own food at work or in school. You can shop once a week for the ingredients and wake up an hour earlier to prepare your breakfast and lunch. Make sure you also have some snacks on the side so that you won’t spend unnecessary money on food outside.


32. Eat Dinner at Home


I am very guilty in committing this financial crime. I will get hungry during the commute time that I will choose to have a quick snack in the mall before heading home. This led me to spend 100-200pesos just for a snack!!! I also feel guilty because I there are times when I don’t appreciate the meal prepared at home since I am already full.



How To Make Extra Income In Your 20s


Start a side hustle today and you will never have to worry about tomorrow. I talk a lot about extra income here in SavingsPinay. I am a hustler myself, and I’ve done different things to make some money while I was still a college student and even now that I already have a full-time job.


Hustling part-time changed my life for the better. It helped me accomplish the following:


  • Boost my savings
  • Increase my investments
  • Have enough capital for a possible business venture or passion project
  • Pay-off debt (credit card)
  • Extra money for shopping, paying bills or vacation


33. Find your Skill and Offer it


Everyone of us has his/her own unique skill that God had blessed us to have and to share.


Find it and offer it.


Mine is hosting so I did earn an extra means of living through it. Maybe you know how to play the guitar or the piano. Or maybe you have basic photography skills.


Whatever it is know it, develop it and start offering it to your friends and soon potential clients.


Additional Income, anyone?!


34. Be Paid for Your Services


Don’t settle for a free service unless you are just starting in the business. You may offer for free but make sure its for portfolio use only. Once you’ve built your portfolio have your services paid. The main reason is that you need money to fund your talent. You will never earn extra if you don’t stop offering for FREE.


35. Market what you know


There are things we have more knowledge about than the others. For example, I know how to apply makeup so I decided to do makeup videos. Little by little I earn few dollars with the views plus I get to share my tips and tricks for fellow Filipinas too.


Marketing your knowledge means having a broader way in letting others know that you can do this and you can do that. Create an album in your Facebook page about your skill and make a status that you can offer free tutorial or lesson. Once potential clients lineup you can now create advertisement in Sulit for others to be paid.


36. Sell something


As simple as it is, selling is a one solid way that you will start earning. Create an Instagram account and sell unusual stuff. You can also have a garage sale. Now that it’s Christmas for sure gift items will be a must so you as early as now, start selling online or at your neighbourhood.


37. Sell your creativity


If you don’t have any product to sell then why not sell your creativity? Maybe you have some potential in doing sketches of persons, you can earn cash through it.


Earning extra income has been very simple nowadays thanks to social media. It is easier to post and to tag people letting your network grow with less work. The thing is you need to take that big step. Let it go and be amazed of what will happen next.


38. Be eager to learn


The internet is a great source of knowledge. You can start a blog, start a new hobby or start an online business easily. Get some proper education on things that interest you, develop it and market yourself as an authority the let others pay you for your service.


39. Use Your Spare Time


We all have 24 hours in a day but the difference is how we use that 25 hours to our advantage. You need to stop doing nothing and start doing something that can change your life for the better.  Use your spare time to earn extra income via legal side hustles available.


40. Start a Small Business


Whether its a buy and sell, direct selling or online shop try it and see if its something for you. Small businesses can eventually make


Here are some ways you can make extra money today:


  • Start a profitable blog
  • Sell something
  • Become a freelance content writer
  • Offer e-load to your classmates/office mates
  • Create a YouTube Channel
  • Invest in a perfume business
  • Try Direct Selling
  • Become a photographer for hire
  • Teach
  • Design logo, calling card and other marketing materials
  • Become a Part-Time Agent
  • Become an Event Coordinator
  • Arrange flowers for event/Event Stylist
  • Sell “baon and snacks” in your office
  • Baking
  • Try Farm Crowdfunding
  • Drive for Uber or Grab Car
  • Arrange Tour for Others
  • Podcasting
  • Calligraphy
  • Emcee for all Occasion


For more ways to make extra money today read 41 Ways To Make Extra Money While Working Full Time


How To Invest In Your 20s


Let’s admit it, “INVESTING” is such a foreign word for Pinoys.


A lot of Filipinos are afraid of the word “investment” thinking its a scam, networking or tactic to lure people and lose their money.


But investing doesn’t have to be complicated. It’s just a necessary move that every Pinoy ought to learn and take.


41. Invest Early, Invest Now!


Stumbling upon the blogs of PinasforGOOD, The Wise Living and Frugal Honey, gave me the courage and the knowledge to take action on my finances. Thanks to them I learned one of the most important lessons to learn in personal finance that is to Invest Early.


Your money will never grow unless you put it on investment vehicles. Investing your money activates COMPOUND INTEREST, two words in personal finance that will make you rich!


Compound Interest is basically an interest over the initial interest. This means the earlier you invest, the bigger your money will be thanks to compound interest.


For beginners I suggest investing in managed funds first like Mutual Fund, UITF and ETFs. These investment products lets you take advantage with compound interest without much hassle.


Once you are confident enough to invest directly in stocks then find an online broker to get started.

42. Diversify


As much as possible, diversify your investments.


Diversification is a financial technique that reduce the risk factor of investing by allocating your investments on different financial vehicles, industries, institutions or other varied categories.


The aim of diversification is to help an investor maximize the return by investing in different areas that could possibly react differently to the changing movement of the economy. Although it never guarantees that loss will be diminished, diversification will surely minimize this sad effect on your investments on a long run.



You can easily diversify with your investments. If this will be your first time to invest then I highly suggest reading,How to Worry-Free Invest in the Philippines.


Diversify among different financial vehicles, assets such as bonds and stocks and market values. Do not just put your money on a typical savings account. Instead aim high and diversify your investment on different instruments such as mutual funds, stock market and even a real-estate property.


Look at Henry Sy. He opened Shoe Market as the leading mall in the Philippines but he didn’t stop there. He established the SM Group with real estate, bank and now even a school, National University. The man surely knows how to diversify.


43. Invest in your financial knowledge


Read more about financial literacy so you will have a better hold on your financial bucket lists.


Back when I was just starting SavingsPinay, I always visit bookstore to read business and finance books. I try to take quick notes on my cellphone on the tips the author mentioned.


Including this on your financial habits is a form of investing in yourself. My most recommended books will include:


  • Ang Pera na Hindi Bitin by Eduardo O. Roberto, Jr.
  • Kakasweldo Mo Pa Lang Ubos Na by Vic and Avelyn Garcia
  • It’s Your Money by Entrepreneur Philippines
  • The Law of Leverage by Rane Panaligan
  • My Maid Invests in the Stock Market by Bo Sanchez



44. Be informed


Research. Research. Research. Proper research can save you tons of money. Read blogs, financial books and ask others who have invested about their experience.


45. Monitor Your Investment Closely


Reviewing your portfolio on a weekly or monthly basis is important. You need to constantly monitor how well your investment is performing. Any slight change on the performance could mean a difference in your fund manager’s investment strategy.


46. Be a conscious investor


It is as always safe to have your first investment in a fund that has been tried and tested. There are higher risks involved when it comes to investing on New Fund Offers.


47. Have Realistic Expectations


Your investment goals should not be based on assumptions. Investing in mutual fund though highly advantageous, does not guarantee fast returns. Adjust accordingly.


48. Create a Broad Portfolio Income


I highly suggest that you diversify your portfolio income by investing in different type of funds. A well-diversified portfolio on different classes, instruments and fund types can earn you the most favorable return in the long run.


49. Invest in a Fund You Know


Don’t invest in something that you don’t understand.

Always invest in a fund that has good track record and invest in a diversified portfolio that answers your goals as an investor. Forget about the names, rankings etc. What matters most is you know what you are doing.

The more you understand the business of the asset management company you invested with, the more you can monitor and analyze your  investment.


Read Next: 10 Best Examples of Networking Scams in the Philippines


50. Secure Your Savings First Before Investing


Though there are investment vehicles considered as safer parking lot of your money compared to direct stocks, it is still better if you have guaranteed savings first before investing. Mutual Funds can be an easy way to create a portfolio income but without savings your active income may suffer. Make sure that you have reserve money for real emergencies.


51. Invest Only with Your Surplus Money


Again, it is of high importance that you are able to keep a portion of your money on your savings before pushing the idea of investing. This way no matter what happens to your  investment you can still face the coming days, months and even year NOT empty handed.



How To Plan for Retirement in Your 20s


If you are in your 20s, retirement might not be a strong of a priority for you. But, it is still a good move to save and invest for your retirement money now that you are still young and able. 


For those who want to retire young, consider these tips and strategies from regular people who retired before age 40.


52. Determine the age you want to retire


Again it’s all about the vision. Ask yourself when you plan to retire. This will enable you to calculate the lifestyle you’ll live during your golden years and how much money you need to save today.


53. Fund your retirement today


From my post the Different Saving Fund You Should Own, I’ve mentioned Retirement as part of what you should include in your financial planning.


You will never be young forever so you better start thinking about your retirement too. A lot may ask what age a retirement fund should be started and the definite answer would be ASAP.


Saving for your retirement now will enable you to enjoy your harvest season sooner. The earlier you start the more chances that your money will grow.


Start by saving money on a monthly, quarterly or yearly basis. Commit to a certain amount you can fund. Then add whenever you are financially equipped. If you want to retire happy you need to start saving accordingly.


54. Maximize your money by investing


Work hard, save, invest and repeat — this my friends is the early retirement strategy.


Once your paycheck comes, pay yourself first and foremost. Saving your income will get you started right away. Next you want to maximize your savings by investing. Investing is the sure way you make your money work for you and not the other way around.


To date, there are a number of investment vehicles you can choose from. From direct investing to stocks to indirect investments like mutual fund, Variable Universal Life (VUL) or Unit Linked Products (ULP). Saving alone will not get you to where you want to be 10-20 years from now. Don’t be afraid to invest for it’s the best way you can do to maximize your money’s growth potential.


Repeat the first two steps until you achieved your desired portfolio or you have more than enough money to outlast you.


55. Consult expert advice


Ask questions and seek help if you must. Retirement is a big deal and consulting a financial advisor to examine your retirement goals can be very beneficial on your side. They can help you in the following areas:


  • Spending – Financial advisor will help you understand your current situation and work out on your current income and expenses. They will help you fix your budget and make it work for you.


  • To Borrow or Not? – Most of my readers will private message me when it comes to debt and honestly I feel like I’m not that equipped to answer your question. Experienced financial advisors are the way to go for a much preferred debt-payment method. They can help you make the toughest decisions that could set you free from debt.


  • Investing – Financial advisers will work out your investment profile. They will assess what type of investor you are and the type of investment that’s perfect for your need. Reading blogs and financial books are great tools of knowledge but there’s something about personal appearance and communication that makes you want to learn more.


  • Get Insured– Insurance are critical to build a strong financial foundation. A good advisor will highly recommend getting your assets insured and protected. It all boils down to the three truths mentioned earlier so you need proper protection to solidify your financial plan. Imagine this scenario: If you get hospitalized or get “taken out of picture”, your retirement fund will be used entirely. But what will happen next? How will your family survive or ensure that your children’s education will continue? Insurances policies like healthcare, life, accident and disability are investments too that you need to consider.


  • Planning – The role of a financial advisor is to help you generate wealth necessary for your successful retirement. They will offer help as you plan your goals in life. If you have questions from how to start and where to start, their passion can direct you.


Choose your financial advisor wisely! Ask questions and see if the answers and advice that they give really satisfies you. Choose someone who can understand how you picture your retirement will be and can suggest the possible next set of actions to get you to where you want to be.



Final Notes from SavingsPinay


I hope you enjoyed this post. Thank you for reading until the end.


What is your favorite money tip from the above?

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Clariza Glino

Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at, a beauty and lifestyle blog for frugal Pinays and manages,, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at

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