5 Inspiring Stories of Ipon Challenge

Are you planning to save this year?

You wish to, but your salary doesn't allow you to?

Despite multiple attempts, your saving scheme failed a lot of times!

 

How about we get some inspiration from people who tried and succeeded in saving? What is their secret? 

Have you heard about "Ipon Challenge"? Have you tried it before?

Basically, ipon challenge was a famous "formula" when you really want to save money originated in the Philippines. Filipinos developed various strategies to incorporate this challenge and made it a fun and enjoyable habit that every earner could possibly like. 

It might sound like an obstacle, right? But no, this will make you feel proud of yourself once you accomplish your goal, saving.

This needs a strong mindset, determination, consistency, and hard work. 

Requires to remind you from time to time what your goal is. Why do you want to save money? Is it only for fun? Your work just pays you well? Do you plan to buy something after some time? New business venture? Emergency fund? You need to state your target. It becomes your willpower. 

Reading a lot of stories on Facebook on how people came up with different mechanisms paralleled to their intention of doing so.

To share 5 inspiring stories, here we go...

1. One Gallon, 2k every day

A former OFW who decided to go back home and put up a business, a decision that not most of our "bagong bayani" are brave to leave behind and start a new one. We know that working abroad pays a lot compared to our home country but still, sometimes we need to go back to where we truly belong. 

This fellow started saving from January 2021 and opened up their saving in September the same year. They diligently set aside P2000 each day from their income to the grocery store they put up. Using this water gallon that seems useful only for water containers, makes it an awesome way to save. Why? Every time you decided to insert that 2k bills, it feels more exciting because you can see your money piling up and looking forward to when is the right time to set them free. 

For that span of time, they've saved P370k and their goal is to buy a lot with a P400k cost. Few bucks away, but sound realistic, er?

2. Invisible 200 Pesos Challenge

One whole year saving 200 pesos every single day, after being inspired reading stories in CFO Peso Sense is such a great accomplishment. The author of this post saves P262k. Imagine how many 100 and 200 bills are, quite fantastic and fascinating to anyone's eye. Having a decisive way of thinking that salary is easily spent and we all need to mind our spending, we cannot fathom what tomorrow might bring to our table, if do not save, we don't have anything to consume during bad days. 

3. No Unnecessary Spending

They just save for 2 years by cutting unnecessary expenses like traveling and leisure. Being an ordinary government employee who gets a basic salary needs a complete focus and cooperation for a normal couple who sacrificed at one's convenience to achieve their goals. 

Hard work is the key!

4. Home Goals of future newly-weds!

They say, "two heads are better than one" and these ipon challengers proved it right! Dream enormously big and make it come true. If you know that you have someone who will support and join you in your endeavors, you will enjoy the journey. A partner will encourage you to achieve your goals, having a financial partner is such a great blessing. Their dream house is reachable, and they worked hard for that. Let's be inspired by how this couple decided to share what they have and later enjoy the fruit of it. 

5. 15th, 30th Budgeting Strategy

Budgeting is a skill that all earners should master if they want to see where are their monies going through, or else, you will realize what happened to those years that your blood, sweat, and tears went to waste.  If we only have one source of income, we need to burn the candles at both ends all the time. It will be a disaster if we don't know how to budget and we're all the way spending every single centavo we got to daily expenditure without noticing nothing changes thru the years of being a donkey worker. 

Learn how to segregate your finances just like the author of this post, use an envelope, have note-taking, jot down all your expenses, put a saving no matter how small you put in that savings basket it will eventually pay the price of your patience. 

Here you go, these are just inspirational stories, and please do yourself a favor, for sure you have an Fb account, try to follow useful pages that talk about finances and how to achieve financial freedom.

Bye for now!