MYHH: Of Income Taxes

January 9, 2015

Apparently, this is the day Income Tax was invented. I’m not very familiar with taxation but if I remember my Economics lessons correctly, a certain portion of your monthly salary is automatically deducted by your company so people around here don’t really have to worry about that.

Personally, I don’t have to pay taxes yet as I’m still in school. I do, however, try to keep my finances in check. To do so, I use an iPhone app called Wally to track my daily expenses and an Excel spreadsheet to see how much I spent and saved in a month and for the whole semester. :)

P.S.: Before I say good bye, I want to share this “savings plan” I came across while surfing the net earlier today. It’s called the 52-week Money Challenge. Basically, you start with a base amount for the first week of the year and add the same amount for every week thereafter. Depending on your base amount, you can save P27,560 up to P137,800. How cool is that? :D

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