Personal Finance: Budgeting with Three (3) Little Piggy Banks

Piggy Banks Fund allocation

In our first post, we have discussed how to get started managing your finances and it all starts with the why. Now, we move to specific ways on how to do that more effectively by exploring the use of piggy banks for budgeting and managing money. These piggy banks can be anything kind of saving tool or mechanism but piggy banks are just the most common so let’s go with that.


The first of our piggy banks is for savings; you can put the money from this piggy bank in a safe savings option like in an institutional bank. The interest you’ll get from the bank will be very small but this fund is not intended to earn you money; it’s just there to ensure that you have something to use in the future in case of emergencies and when unexpected expenses arises. This should also help you build an emergency fund, a fund that should be equivalent to at least three months worth of your income; if you’re the breadwinner in your family, make that six months worth.

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Personal Finance: The Winning Mindset

Winning Mindset

We will be starting off our posts with practical advice on managing your personal finances. Just as how governance is shaped by a country’s wealth, the lifestyle of an individual is shaped by his/her finances. We’re not saying that money is everything but having it allows you to have more access to different resources, opportunities and experiences. I won’t take too much time trying to convince you why it is better to be rich because you might not even be reading this if you’re not interested in becoming rich already.

MotivationMotivation and Discipline

Like many people you may dream of becoming rich but as life is, we need to work for it to make it happen. Dreaming is for those who sleep. Goal setting is what go getters do; for success favors action and this is true for any endeavor. To be successful in anything you do you need motivation and discipline.

Motivation will get you started and discipline will keep you going especially when the going gets rough. To have sufficient motivation, you need to identify a deep why because as the philosopher Friedrich Nietzsche said, “He who has a why to live can bear almost any how”. It’s not enough to want to become rich you need to identify how rich. Be specific and quantify; then you’ll have to think of why you want those. It is the reasons that you come up with that will help you get up each morning and do tasks which will help you move closer towards your goal.

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