Payday is every worker’s favorite day. It is when they feel all stress, all hard work, finally get rewarded. That kilig feeling when you know your bank account numbers go up and your wallet gets thicker will probably make you so happy that you want to splurge and do a shopping spree, or go on a food trip! I mean, I know I would because I worked hard for it and I know I deserve a treat. Admittedly, it’s wrong, though.
It’s nice to live in the moment, but it’s always better to have a secured future for yourself and even your family– no stress or trouble about being broke. We’re not saying that you don’t spend at all; you should just make it a goal to save as much as you can without compromising your happiness. What’s life when you get deprived of doing what you like, right?
So here are some tips that you can do to save money while still enjoying the Manila on Sale life:
Allocate Your Resources
The first, and probably most important, thing to do with your money is to allocate them properly. If you plan out how much you want to save, how much you’re willing to spend, and etc., you’re basically good to go.
To give you an idea, the most common budgeting suggestions is the 20-50-30 rule: 20% to insurances/savings/medical emergency money, 50% of your money goes to your needs, 30% to your wants.
It also helps to list down everything that you spend your money on so that you’ll see which ones are necessary; sometimes we like to spend without thinking about it!
If you want to learn more where to put your 20%, send an email to [email protected] with the subject “Saan aabot ang 20% ko?” and we’ll get in touch with you. We’re serious!
Have Self Control
In relation to #1, the 20-50-30 rule of budgeting is great when you have great self-control. If we say that it’s 50%, make it 50%. To do this, deposit your savings as soon as possible so you don’t get more tempted to spend it; there are also banks that offer auto debiting your payroll account and credits it to your personal savings account. Seeing your wallet full can make you think that you still have enough when, in fact, you should set aside 20% of it.
If depositing it in your account doesn’t work because there are ATMs almost everywhere, try looking for a trusted person to keep your money for you. Personally, I do this with my friend; I ask her to keep my money and I keep her money. Not only does it helps me control myself, it also strengthened my trust towards my friend. Try it!
Commute
In case you haven’t heard, Uber is back. With them around along with Grab, Angkas, and etc., going out has never been more convenient, but, sadly, more expensive, too.
If you come to think about it, the money we pay for these transportation apps is worth it because of many reasons: it’s air conditioned (except Angkas, obviously), you don’t need to wait in line to hail a taxi, and many, many more. But let’s also think smart! If we can commute to that place, why don’t we?
For example, from my place to Makati, it usually costs PHP 150.00 + to go there. However, if I ride the LRT to Gil Puyat (PHP 16.00) and bus to Ayala (PHP 12.00), I only spend PHP 28.00 all in all and have PHP 132.00 extra which I can use for either other things or transportation going back home.
If you can walk to your destination, better! You get to save money and exercise at the same time! Iwas traffic pa!
Stay Away from Debts
Credit cards are blessings from heaven. Imagine shopping in your favorite shoe store and paying with a shiny plastic card, and not worrying until the bill arrives in your mailbox.
Because of BDO’s promo, I got to eat at Spiral Buffet for 50% off! Yet these things can come at a price– because we know that we can pay for it later, we often overspend. Before we know it, we’re faced with an amount way more than our means!
Yes, you may have the capability to pay for it in the future because of your job, but don’t get stuck with that mindset. Whenever you’re using your credit card (unless it’s an emergency), always think, “do I have the money to pay for it?”. If yes, then go for it! Using your credit card has its pros and cons, you just have to learn how to make it work to your advantage.
If you are able to do this, you’ll save yourself of future headaches thinking about if you have anything (or anyone if you borrowed money) to pay.
Don’t Buy Immediately
As tiring (and possibly annoying to my friends– sorry, friends!) as this may sound, I don’t buy stuff immediately.
Impulse buying is everybody’s sickness and I try to avoid this as much as I can. When you decide to buy something, check everywhere else what’s the most worth it at its price. You’ll never know, there might be a sale in a certain branch that you didn’t know of! Be patient in buying; your wallet will thank you for it.
When purchasing clothes, I’d recommend going to thrift shops, but I’d save that for another article!
Be on the Look Out for Promos
Remember these promos? Always watch out for discounts/special offers especially now that Ber months are here (hello, Christmas!).
Promos may be a drag to queue in line for, but, you gotta admit, they ARE hella cheap! Just be sure to stay safe and not let the Zark’s madness get to you!
Bring Your Own Water Bottle
https://www.facebook.com/CertifiedCalm/
Last, but definitely not the least: always bring a bottle of water with you.
This tip is so underrated, but you will save so much money if you do this. Imagine buying a bottle of water at least three times a day (lunch, merienda, and dinner) for a month. A water bottle, more or less, costs PHP 25.00 and if you calculate that, PHP 25.00 x 3 times a day x 30 days = PHP 2,250.00.
Two thousand expense on water?! If you buy a tumbler, let’s say the trendy Kleen Canteen, that’s only worth around PHP 1,700.00 (it’s on sale right now at True Value!) and can last for so long. You just need to refill it at your home, at your office, and voila you don’t need to spend on water where you can get it practically for free– a good investment if you ask me!
If you’re an environmentalist, you can also help Mother Nature by not promoting plastic bottles!
To conclude, you just got to keep this in mind: “Whatever your income, always live below your means.” (Thomas J. Stanley, The Millionaire Next Door: The Surprising Secrets of Americas Wealthy). If we follow these tips and other things that can help you, we’d all have enough to buy what we want. But until then, let’s live smart!
Now, try these out and share to us the results! We’d love to hear you enjoying the MOS life and save money at the same time!
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