Top 10 Tips to Save Money for Hard Working Pinoys

For many Filipinos (or everyone else for that matter), saving money is easier said than done. Through effort and proper planning, however, you can achieve precisely that. And to make your journey a bit smoother, here’s a list of top 10 tips to save money for hard-working Pinoys.

1. Keep Yourself Healthy

Getting sick always sucks, especially if you want to save money. So if you’re going to have an abundant financial nest come retirement day, you’d better start taking care of your health (physical and mental). That means eating right, exercising regularly, and getting enough sleep, among other things.

2. Bring a Water Tumbler

Buying bottled water too often can gradually take its toll on your savings if you let it. By bringing a water tumbler with you whenever you go out, you’ll be able to avoid such expenses as well as do your part in minimizing plastic waste.

3. Eat Home-Cooked Lunch

Bringing packed lunch to your workplace won’t just help you save money, but it will also allow you to enjoy your meals more (since you get to eat whatever you want). Additionally, doing so helps you stick to a diet regime (if you’re following one), thus allowing you to achieve weight and health goals.

4. Commute to Work

Driving in and around Philippine highways is hellish, to say the least. And that’s not even mentioning the toll fees, parking fees, gas expenses, and what-not. So instead of bringing a car to work, best take advantage of the country’s public transportation.

If commuting is not an option, you might want to considering getting a used car financing.  Check our article about car financing for first timers and how to get approved for that car loan.

5. Leave Your House Early

Speaking of commuting, you should leave your house as early as possible. That way, you’ll be able to avoid the country’s rush hour, allowing you to save time alongside money. Plus, going to work early is more comfortable since the sun hasn’t risen yet.

6. Create a Budget Plan

Keeping a realistic budget helps you save money more strictly, since it gives you an opportunity to set aside a certain amount of your salary for that particular purpose. And it’s relatively easy to do. You can write it in a notebook or even use a smartphone app.

7. Track Your Spending

And while you’re creating a realistic and detailed budget plan, you might as well find ways to track your spending. That way, you’ll be able to follow your budget correctly, as well as check yourself for any unnecessary expenditures. Luckily, many smartphone apps developed to help users plan their budgets can also be used to track spending.

8. Buy in Bulk

Believe it or not, buying stuff in bulk will actually help you save money. That’s how sari-sari stores and online sellers make a living, after all. Look for shops and stores that offer discounts for wholesale purchases, like Puregold, Super-8, and San Roque.

9. Consolidate Your Debts

Debt consolidation offers you a very effective way to save money, especially if you’re currently carrying a couple of high-interest credits. Not only will it help you reduce your monthly dues, but it also makes it easier for you to return the money you borrowed. Moreover, it’s a great way to boost your credit score, which will be useful for future loans.

10. Build Passive Income

A passive income allows you to earn money without working. By building passive income sources, you’ll be able to save more money and achieve financial independence. Examples of passive income ideas include renting out a spare room or house, getting dividends from stocks, and relying on affiliate links.

Save Money By Following These Tips

As a hard-working Filipino, you should do whatever you can to protect the money you worked so diligently to earn. Following the tips listed above will help you do that, and it will help you lead a more financially comfortable life in the future.

But should you need financial assistance, make sure to go to trusted financial organizations that has your best interest in mind.