‘Save more if you can’, that is what you can hear as advice from our parents. But sometimes, it is really hard to save especially that the prices of commodities grew higher and higher. Recently, a netizen proved that if you really want to save money, there are a lot of ways to grow your savings.
On a recent post from Kapuso Mo Jessica Soho’s Facebook page, some have shared a video of a person opening his drum bank full of coins. Together with his friends, they opened his savings and cut the edges of the drum.
The drum was almost full of 10 peso coins and as they count all that’s inside, they figured out that the man was able to save almost around half a million pesos! Would you believe that? The video showed how happy they were with what they had just saved and some of his friends were cheering for his achievement.
This video that was posted has gained a lot of comments and has been shared around 29,000 times in social media. Some netizenz have different point of view on what the man have done. Some say that he is good in spending, while others were angry because he have hoarded lots of coins which is punishable by law.
House Bill 4411 or also known as Act Penalizing the Hoarding of Legal Tender Coins of the Philippine Currency was swiftly approved in 2014. According to the law makers, this is to protect the coins from smuggling and also to maintain the country’s currency stability. Smugglers and even normal people have used these coins to extract its metallic content and they even make it as an accessory. People who will be caught not following this law will face the penalty of eight years imprisonment and a fine not exceeding 300,000 pesos.
The government did not ban us to save money but we should make it a point to save in the right way. Anyway, banks are present where we can put our savings into withouht disobeying the law and making sure our money is safe.
I hope the person in the video will not be put in ja!l or else the money he had saved will be just used for bailing out.