After saving up for your retirement or future, saving up for education is the second most popular reason why people are saving money. Every year, the cost of going to school, especially in college, increases.
Education can be expensive, but the good news is that you don’t really need to pay the full amount upfront. Many schools are accepting payments via installment or monthly tuition fees to help parents who cannot pay the full amount immediately.
But these parents have another creative way to save money to pay for their children’s tuition fees.
Saving in a Creative Way
Jamie Jam shares how she and her husband were able to save extra money. In a Facebook post that she shares in the PESO SENSE SAVERS Group, she recalled how they saved money for one whole year.
Instead of spending their 5 and 10 peso coins, they are keeping it in a coin bank. They continue with the practice until the coin bank is full.
From a few pieces of coins, they now have a ton! By saving up their coins for a year, they were able to collect P10,320. This amount will go to the payment of their children’s tuition fees.
After reaping the fruits of their labor, the proud parents will continue saving their coins again for the next school year.
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A lot of us have a major misconception about saving money. Some people think that saving up is only for those who have extra money while there are others who don’t realize how important it is to allot some money for emergencies.
What are the ways do you think can help you to save more money for your future? We would like to hear your ideas!