Adulting 101: Financial Management (Basic Savings Account)

One of the things I'd like to accomplish before I turn 30 is to have a legit personal savings account. For years, it seemed an impossible dream due to the fact that I don't earn that much. The little salary that I get for being an analyst at the GMC is merely enough for my personal needs. It is only by God's grace and providence that I am able to survive, and in some occasions, obtain my "wants." So, opening a savings account was just too difficult for me.

But then again, "all it takes is a decision." :)

This year, I resolved to open an account. No more ifs and buts. I did a little research and discovered the best savings account for starters. Yeah, I'm still learning how to be an adult. I admit I am a late bloomer when it comes to financial literacy. And now that I'm seeing the "fruits" of my little investment with AXA, I could only wish I started sooner.

Anyway, didn't I just say that it's never too late? :)

And so, one fine day in February, while I was stuck in traffic along Aurora Blvd., I noticed the newly-opened Eastwest Bank branch. I got off the jeepney, went inside the bank, and opened a Basic Savings account. I just filled out a form, presented two valid IDs, and my initial deposit of Php200. It's that easy!

What I love about it is the Visa Debit card that comes with the account. Yes, with just a minimum of Php100 initial deposit (that's also the maintaining balance), you'd get a card which you can use for cashless transactions. How convenient! But you have to remind yourself why you opened a savings account in the first place.

Thank You!

My first strategy was to leave the card at home so that I can avoid the temptation of using it from time to time. But since we were robbed, I no longer leave anything valuable in the apartment. What I do instead is to "forget" that I have the card. Do some mind conditioning (yes, it takes discipline too!). It worked for me. When I budget, I include the amount that I need to put in the savings account. Then once I have deposited it, I forget about it. I still don't have that much, but at least I have a little to start with. Great things come from small beginnings. :)

Also, you only need at least Php500 to earn interest. Again, little by little does the trick.

So what are you waiting for? What excuse do you still have?

Start the week right by right decisions your future self will thank you for. :)

Your dreams will only remain dreams unless you do something about them.

Go to the nearest Eastwest Bank branch now and open an account!

You might want to check out the other deposit accounts that they offer. :)

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I am in no way related to Eastwest Bank nor am I paid to do this. I just wanted to say that it is possible to save with the little that you have. And Eastwest offers the least amount needed to open an account. :)

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Update: I have another reason to love Eastwest. They have excellent customer service! ♥

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