Money Matters I Learned (and finally applied!) this Pandemic

The year 2020 was probably just like how any other year I was hoping for: full of surprises, lessons, good and bad things but never did it cross my mind that a pandemic was possible.

Looking at how modern the times are, it seems impossible for science to not know what to do or what to not cure.

Until COVID-19 happened.

And sure enough, everything changed. Lockdowns, hoarding of supplies, loss of jobs and business, things were just happening really fast and there was nothing people can do about it except to adapt.

Before lockdown started in Manila, I was blessed to still have my job shifted on a work-from-home set-up. With all the bad stuff rapidly happening, I had to sit down and think through what I should be doing to manage my salary better since things doesn't seem to be going back to normal in a few months or so.

The Money Jar System can Work Wonders

This was originally introduced by T. Harv Eker, author of Secrets of the Millionaire Mind. The idea is to split money in 6 "jars" namely, necessities (55%), financial freedom (10%), long term-savings (10%), education (10%), play (10%) and give (5%). It can be modified depending on one's needs but the main point is to have allotment for different purposes. I learned this method from the book How to Yolo Wisely by Rose Nikki V. Jurado or more commonly known as Nomad Finance Girl. It helped me know my REAL priorities and allot money on each category. Managing my income has been more exciting since I get to see that I was REALLY putting money on my savings.

Consistency Matters

Following the money jar system, I was skeptic at first since 10% seems like a small amount to be placed for my savings. But as months passed, I was surprised to see my money adding up in my savings account. It may not be a lot yet but for someone who's got zero money managing habits, it was a really good start. Aaaand for the first time since I started earning my own money, I was happy to see that I managed to increase my savings by the end of the year. I was saving up but at the same time not really depriving myself of things I want to buy.

Giving Does not Equate to Being Scarce

I have to admit, I used to be one of those people who thinks that if I keep on giving, nothing will be left for me. But honestly, each time I reject an opportunity to give, I still have the tendency to regret it a bit afterwards. When the pandemic hit and my dad had to stop working for a few weeks, I figured that I had to share what I can just so I can ease the burden of expenses at home. Sure enough, I did realize that I didn't exactly lose money but some of my earned money helped to bring food to the table (and nourish us <3), provide multivitamins that probably helped us boost our immunity, and have my parents enjoy some skincare products as well (which, by the way, seeing them enjoy is priceless <3).

Sure enough, saying that the pandemic hit us hard is an understatement. The end of it may not even come close yet. What's for sure though is that these tough times made us slow down, think through of what really matters, and be a little more kind.