Readers' question: How do i save money?

A reader emailed me, asking "how do i save money?".Another one asks my opinion on Francisco Colayco's suggestion (in his book, Pera mo, Palaguin mo) of using envelopes.

With this post, I hope to answer these questions in the simplest, and most effective way i can. In fact, i will only use 3 words: Just do it!

I'm sorry if you were expecting a magic formula. But folks, really, ask yourself, how else do you expect yourself to save? In my opinion, there is no formula. Just willpower.

By all means you can, save every excess centavo. These add up. It's developing the habit that's more important. Once you've developed the habit, and have made this automatic and lasting, I promise you, you will very soon be taking the next big leap which is "growing your money" thru investments.


I can relate to you, ordinary Juan Dela Cruzes. I've been there. I am living proof that this is possible. Discipline, willpower and a bias for action. These are key.

Hesitant still? Also read (click links) relevant topics about:

a) Why create wealth?
b) Why save?
c) Money-saving tips
d) Investing 101
e) What to do with money saved

Basketball and building wealth in the Philippines

Before anything else, let me make it clear: I love basketball. I play the game 3x a week. It is one of my greatest passions in life. However, i feel time is beginning to catch up on me. One day soon, i'll be saying goodbye to the sport. But not before i give the Filipino youngsters out there a piece of my mind. 

"one of my personal joys"

The Pinoy male reader will definitely relate to this post. The female ones, my apologies if you cannot. 

Something’s really wrong with the below scenario:

Almost everyday at around 3pm, a group of  basketball playing guys travel to an unfamiliar barangay to look for worthy opponents. This is called “dayo”, in street language. Normally, the hosts (the ones dinayo) would agree to play but with a bet, to which the visitors (the dayo) accept as this is their intention in the first place – to try to win games so as to bring home cash.

So the exciting game begins.