SAVE FOR CHRISTMAS

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Savings deposit intended for expenditures for Christmas holidays.
No maintaining balance required after deposit has matured.
No fees will be charged.

How to budget?

Christmas is a time for celebration and households splurge on recreation, food and drink as well as gift-giving. Are you prepared for these spending? If not, then start saving!

Make your tight budget now! These are the tips on how to budget:

Download Save For Christmas Form

Calculate income

Calculate your projected income by estimating the amount of money you will have to cover your expenses for the semester. This includes savings, job earnings, financial aid, and any funds from parents.

List your fixed expenses

These expenses do not vary, such as tuition and fees. The University develops standard budgets for categories of students represented within the school’s population.

variable expenses

List Variable Expenses are subject to a certain amount of control from you. These include housing and meals, books and supplies, transportation, personal expenses, insurance, and clothing.

total expenses

Add your fixed expenses to your variable expenses to obtain your total expenses.

TIP – Be careful with credit cards! If you don’t have the cash for the purchase, you probably can’t afford it(and do you really need it?).

TIP – Don’t use an ATM card for an individual purchase if a fee is involved. Do you really want to pay P50.00 for a taco? These little fees add up fast.

balancing your budget

Subtract your total expenses (Step 4) from your projected income (Step 1). If your estimated expenses are higher than your projected income, you should find ways to reduce your spending.

TIP – Direct deposit! Direct deposit! A check in hand is easily spent. Have your earnings and any financial aid credits deposited into your savings account, and take it out only when you need it.

identifying spending

Using your budget, identify your spending patterns. Where does your money really go? Write down within a week every item you buy. Identify your NEEDS vs. WANTS and limit the wants.

TIP – Give yourself an allowance. Know what you can afford to spend for goodies each month and stick to it. Divide that into weekly envelopes to help you stay within your budget.

know your debt

Where does your debt come from? Home Loans, Credit Cards, Car payments?

financial planning

What’s in your future? Write down your short-term and long-term goals. Start by planning for one goal.

TIP 1 – Saving money in and out of college. Establish your spending habits, control your impulses and bank the rest.

TIP 2 – Tracking paperwork. Knowing where to find your financial records regularly will help you spot mistakes and be able to successfully communicate with lenders and banks.

Tax Free Savings Account

TAX FREE – Now that’s more like it!

Introducing the first ever 100% tax free, flexible, do-with-as-you-please savings account. A tax free savings account (TFSA) from AMPC lets you invest up to P 1,000.00 per year without paying tax on the investment income you earn. It’s 100% TAX FREE.

Choose the tax free growth account, which gives you the option to withdraw funds at any time without penalty.