A Progress of My Mom’s Ipon Challenge
Last February, I suggested my mom to start an Ice Candy business. She started with an initial capital of 300 pesos and rolled the gains all over again. It was late March when I gave her an “Ipon (Savings) Challenge” coin bank wherein you just have to save and shade the corresponding coins/bills that you put inside.
After more than a month, my mom had to open such coin bank since it is already full. I just advised her to save it in the bank for the moment while filling another coin can. Curious about how much she had saved for the past month?
Well, here’s the breakdown:
![Untitled.png](https://steemitimages.com/640x0/https://steemitimages.com/DQmbfC72zZnV6xsURcxsgxX7pciuuZnQJQJZjbNE8pPoqHU/Untitled.png)
That’s a total of 5,338 pesos or 107 USD! For someone who just stays at home, saving this much is already a great financial milestone.
My mom just can’t contain her happiness after knowing the exact amount she has saved during the past month. She’s been working all her life as a private school teacher but she never managed to have some savings. And now that she’s an official homebody after retiring early, she could save all the proceeds of her mini business for herself. No need to worry about the bills mom, let me handle it.
According to my mother, her aggressiveness in saving leveled up when I gave her this coin bank:
![](https://steemitimages.com/640x0/https://ph-test-11.slatic.net/p/4/peso-sense-ipon-coin-bank-challenge-2018-5318-04337828-afa10cda29ab333fc55c8fb75e021274-catalog_233.jpg)
So what’s really special about this mere tin can?
![26168871_864366210414797_1181744017732579369_n.jpg](https://steemitimages.com/DQmdfgHfsmnzjdep1mNH1HX7RTxRpxyYbXHEiaazbNwxnMp/26168871_864366210414797_1181744017732579369_n.jpg)
This Ipon Challenge is being promoted by Peso Sense, a facebook page that campaigns financial freedom for the Filipinos. This Save and Shade type of saving does not require any fixed amount for a specific schedule. You just have to shade/document whatever amount you have deposited in such coin bank in order to track your progress. Once you complete this challenge, you could have a total of 53, 750 pesos or 1,075 USD.
As what my mom said, she got addicted to saving her extra money instead of spending it all to splurges. Being her daughter and her financial advisor, I am more than happy seeing my mom being inspired by her journey of building the habit of saving. At the moment, I am giving her several investment options to make her savings grow even more and right now, we’re eyeing on FarmOn.ph, an agricultural crowdfunding investment.
This is a good start, Ma. I can’t wait to see more of your financial milestones in the following months. We may have argued about money a few months back due to my frugality, but now, it seems like you have surpassed my thriftiness. Nevertheless, I know this just proves that the family that saves together, always stays together.
Mama’s proud daughter,
![DQmZVURJwjhLKuw4xWRdZ76qjSzrSeDfqPMp1PEjkfXAckm_1680x8400.png](https://steemitimages.com/640x0/https://steemitimages.com/DQmP8qCboZgSygQGeoLQ8pS3hFEbfmzUhH7pYob29whD6au/DQmZVURJwjhLKuw4xWRdZ76qjSzrSeDfqPMp1PEjkfXAckm_1680x8400.png)
Previously-posted finance-related articles that you can learn from:
It Started With a Scam
Three Ways to Invest in the Stock Market
The 18th Cycle Registration for FarmOn.ph Is Now Open
The Silent Phase of the Market Will Reveal The Investor In You
Different Investment Vehicles that You Can Ride Towards Financial Freedom
Factors to Consider Before You Start Investing
A Summary of My Financial Activities for the First Quarter of the Year
Different Budgeting Techniques
Main Reasons Why You Are Unable to Save All-Year Round
Should Your Long-term Savings be in Banks?
Important Points to Consider Before Taking a Loan
My Credit Story: How I Managed to Pay-Off Someone Else’s Debt
Four Common Financial Mistakes a Millennial should avoid
How do you keep track of your Income and Expenses?
TRAIN Law and its Counter Effects to Filipino Consumers
Are You Prepared to Invest?
Strategies for an Effective Cash out of Steemit Earnings
How Does Decisiveness Affect Your Finances: Explained Through Trading SBD on Bittrex
Three Important Things to Learn from Cryptocurrency Market Crash
Understanding Money’s Liquidity: How to Apply it to Steemit Earnings?
Invest in Philippine Stock Market for as Low as 5,000 Pesos
Eight Lessons From “The Budget Challenge” Everyone Must Learn From
Invest in Learnings
ICO – A Road to Million?
What Is Your Budget Principle?
Basic Understanding Of Bitcoin And Cryptocurrency
![DQmZVURJwjhLKuw4xWRdZ76qjSzrSeDfqPMp1PEjkfXAckm_1680x8400.png](https://steemitimages.com/DQmP8qCboZgSygQGeoLQ8pS3hFEbfmzUhH7pYob29whD6au/DQmZVURJwjhLKuw4xWRdZ76qjSzrSeDfqPMp1PEjkfXAckm_1680x8400.png)
![DQmT8MFECsM9DgBVvNwWAo2tHBh6FuEHscUoixfHUDzx4uX.jpg](https://steemitimages.com/640x0/https://steemitimages.com/DQmTDopxgWzjnodg94Vdjafcsns6krQpggrGosyU194xrZk/DQmT8MFECsM9DgBVvNwWAo2tHBh6FuEHscUoixfHUDzx4uX.jpg)
![DQmf2KLgzeQF3cWheFcqJXsw7oxmDofpdfnBvgq1Ebba9Vy.gif](https://steemitimages.com/DQmf2KLgzeQF3cWheFcqJXsw7oxmDofpdfnBvgq1Ebba9Vy/DQmf2KLgzeQF3cWheFcqJXsw7oxmDofpdfnBvgq1Ebba9Vy.gif)
Congratulations to you, and your mother. I would suggest going bigger. Use profits to buy more equipment, and then your own shop :D
Well noted, @rcarter. My mother is thinking of reinvesting half of her savings for another business, while investing the other half of it for passive-income generating investments :D
If this business is successful, why not focus on one business?
Challenge her to consider this.
This is a very good point to consider. Thank you so much for the tips, @rcarter :D
I agree with your comment @rcarter because in that way you can have more productions. The more equipments the more productions the more money ✔️✔️✔️
yaaaay agree! compounding interest through snowball effect sa business ✔️✔️✔️
wow ang galing nman niyan.. yung sa amin naman is 5 peso per day sa isang malaking glass container sa loob na bahay lng nkalagay.. binabasag lng siya before new year.. Great job to you mom..
Malaki laki na rin yan pag pinagsama. Thanks jez! I am really proud of her :D
Shei!!! I’m so proud of you. Idol taka ani especially na kuha nimu ang interest sa imong mama nga mag save. This is an inspiration. If matarung na among balay buhaton niya na nako... salamat shei. You are an inspiration...
Thank you @morken! na inspire sad ko ug maayo sa akong mama nga magsave. Basin maapsan nya ko niya hahahhaha
Yay of course you can do it too!
Hala amazing! Love this post , congrats mamshie
Thanks daw zam ingon si mamshie hahahaha
wow bahala ginagmay basta kanunay.. congrats sa imung mama at least she can now expand her business:)
Thank you @orhem :* mao gyud shocked sad kaayo ko dako na ang naabot sa iyang sinsilyo hahahha need napud mi magthink for next business kay musulod napud ang ting uwan. :D
Congratulations! This post has been upvoted by the communal account, @steemph.cebu by smaeunabs being run at Teenvestors Cebu (Road to Financial Freedom Channel). This service is exclusive to Steemians following the Steemph.cebu trail at Steemauto. Thank you for following Steemph.cebu curation trail!
Don't forget to join Steem PH Discord Server, our Discord Server for Philippines.
Omg i need that tin can. I need to save 😖 and congrats to you and your mom. That's indeed amazing 💛
Pagkalingaw ani uy! Job well done to you and your mom! <3