The One Million Peso Challenge
I’m done with one-tenth in 10 months
August 2020
Mom giving money lecture to kids:
If you want to have one million pesos in your name, you have to start saving while you are young. You already knew how to save through your piggy banks. Now, we will advance, I’ll teach you how to invest. But first, give me your view on what does it take to have one million pesos.
Eldest son:
To have one million pesos, I need to study hard, finish college, have a good job and start saving the moment I earn my first salary. One million pesos is a big sum. It’s hard to save the entire amount.
The answer of the youngest son opened our minds:
It’s easy to have one million pesos. Just buy one million candies and sell them at a mark-up of 1 peso each. Maybe you don’t have to really sell to 1 million people because your friends, neighbors, and relatives will buy more than one. Maybe they’ll buy a hundred. Simple. Once all candies are gone, one million is there for you.
June 2021, after 10 months
Money saved: Php 120,256.00 (around $2405)
No, I didn't peddle candies to 120k people. Definitely, no Ponzi scheme involved. What I did is simply substitute saving instead…
