Are you a spender? Too often we criticize those who are stingy from among our friends or acquaintances, but have you noticed that at times when emergency comes they are the ones to depend on? Or maybe not, because again, they are stingy and they may be afraid that they might not get back their doughs. If they have enough for their emergency, why can’t you? Here are some tips on starting to save yours.
10. Avoid using your car or taxis.
I’m not saying that you shouldn’t use them, of course if you are going somewhere with your family, using private transportation is more convenient and safe. I’m talking about some normal errands, or unimportant events where you need to travel. If it’s not time-constrained, or not that glamorous, take a jeepney or public transportation. No more parking fees, lessen your car wash sessions, and save on gas! You are not only saving your mullah, you are saving our country and the planet as well in your own little way.
9. Minimize your Night Outs
Call me a “KJ” (kill joy; a common expression among Filipinos, referring to someone who ruins fun activities by being too conventional or too conservative), but this is about money-wise-making decisions, I’m afraid this is necessary to be included. Clubs mark up about 20 to 100 percent from drinks’ original prices, that’s why there are so many to choose from and it means good business. You simply think it’s a win-win service right? But what will you really get after wasting your money, your health, and your dignity from spending your time in these places?
However, there are some alternatives to have fun, yet spend less. Instead of going to bars or clubs (yeah I know, the goal there is to meet someone new and interesting), why not just go to one of your company’s house; buy drinks, chasers, and junk food from your local supermarket and drink like there’s no tomorrow? I’ve heard a lot of people going to clubs in groups and would really just like to drink and dance. Why not do it somewhere with the same liquor but cheaper price tag?
8. Don’t be embarrassed to opt for cheaper products or services
Human as we are, we feel proud when we possess something expensive. Don’t worry, this isn’t just limited to Filipinos, this is what most people do around the world. That’s why, many people opt for the iPhone 6 and snob at Lenovo, though they almost have similar features and design.
Who could tell if your nail polish is Bobbie or Orly? How can the people you encounter spot if you’re wearing fake Crocs or not? In the end, how you carry yourself is what matters, not the price tag.
7. Purchase some products with discount options.
If you consume about 150 to 300 pesos worth of load for your text and call services every month, and that doesn’t count the people in your family who could consume the same, why not buy a retailer sim card where you can get a discount?
Though 5% is not much, but if you think about it, it’s a necessity and will cost a lot in the long run. This could be the same with other similar necessities you could be purchasing. Including gym memberships and other workout places. By the way, most people become members for a year but only went there less than 5 times per month. Don’t you think you paid too much?
6. Go on a diet.
You’re not only making yourself look good, there’s a good chain reaction to this. When you spend less on food, you get to save more for emergency or some other things that are more important to you. Guess what, about the emergency savings, chances are you might not get to use it because when you’re less fat, you get less sickly. The more you watch your appetite, the more careful you are with what you eat. Those old clothes you thought of discarding because they’re now too tight? You may even get to use them again and will make you spend less on apparels. Like most wise people say, don’t let the clothes adjust to your body, let your body adjust to your clothes.
5. Learn new skills, discover your talent.
Which is better, graduating from college without skills? Or having skills but only having a high school diploma? To make it clearer, just at the application interview, which one would answer better with this common yet very important question, “Why should we hire you?”, or how about “Tell me about yourself”, or “What is your edge among other applicants?” Being a college graduate, you may flaunt your passion for working, flexibility in different working environments, which could be made up and aren’t measurable assets. The real value is what you can do, not what type of person you are. Aside from companies valuing skills and talents, there are plenty of ways to use such abilities for your own benefit or your own business someday.
If you talk a lot, then get to know a lot so everybody will want to listen because what you’re saying will have more valuable information than what you used to say, you can be a great salesperson. If you’re great at dancing, then you can get a job at the office but become a Zumba instructor on your free time! If you’re good at English, why not become a freelance writer or an ESL tutor? There are various options when you have a lot of skills. Start investing in yourself.
4. Reuse and recycle, be an environmentalist.
Caution, using organic products is not being an environmentalist all the time. In fact, there could be more waste in using such products. Example, if you use organic facial creams, the usual expiry date is only after a year, which is shorter than the counterpart of chemically-filled products that could last for 3-10 years. Organic products tend to be expensive, so who would buy them in less than a year? What would happen to the stocks then?
If you buy organic vegetables, you are paying more for the companies who could maneuver the labels and pay less to the real farmers. Besides, having super large plantations doesn’t save the planet, the soil irrigation, cutting of trees, and plant maintenance may be less harmful but are still, harmful. Compared to ordinary farmers who planted their veggies on top of the mountains at small areas, a lot of trees in the said area could still be saved.
If you don’t buy organic products but buy products with chemicals that still have some plant contents among the ingredients, you are saving 20-50% from your beauty regimen’s price, the plant contents usually don’t come from plantations too, they were bought from local farmers or ordinary fisherfolks who culture sea algae used in common lotions, shampoos, toothpastes, and soaps.
If you buy lotions with a refillable pack, you are reusing the container and reducing plastic wastes. If you have worn-out tote bags, why not use them in shopping at local stores or for buying veggies at the wet market instead of buying those eco-bags at the price of 30-100 pesos? Being an environmentalist is not only fun and caring for mother earth, it makes you become wiser too!
3. Use less gadgets and get a real life.
How many TV’s, smartphones, tablets, music players, and computers does every household have? Do you know that if you combine all these which are charged and used every day, it accumulates 30-60% of your electric bills? Did I hear you say it’s the air conditioner that took most of the amount? It is true! But if you weren’t sitting in front of your pc, you wouldn’t be needing that much ventilation would you?
In the long run, how many members of your family would be wearing glasses? That would be eye-maintenance, and it would get more expensive as time goes by. Without real activities and physical movements, that would be years taken out of one’s life due to diabetic and cardiovascular disease developments. Stop using facebook, talk to your sister, brother, neighbor, and friends outside.
2. Get some side jobs.
Having another job will not only let you have more money, sometimes the salary of these side jobs is enough to support one person for a whole month. Let’s say the side job lets you earn 4-5k per month, that would be enough to pay for some bills and budget-wise everyday meals.
Be warned though, if the side job asks you for money in the first place, most often it’s a scam. Don’t pay for your job, let your job pay you! These networking, easy-money making schemes have already existed for centuries, yet, even people who can recognize a complex glutathione can be fooled by such strategies. This is why, number 3 is very important, stop relying on Google and Facebook for information, get to know the streets!
1. Be wary of charities, and learn more about business.
If it’s money we’re talking about, then it’s business. They go hand-in-hand. Even a simple charity is still business. If they say it’s a non-profit organization, it’s a lie! They started it without a capital, and they get all the profit. What could be a more profitable business than a business with profit but requires no capital? Let me cite its similarities in business:
– They ask for money without any products or services.
– They hire volunteers, they may not be called employees but they can be a shareholder.
– They advertise! See the flyers or the pamphlet they hand out when asking for charity? That’s advertising. If not, then what do you call it?
– They have directors or managers, called leaders.
– Some of them even have websites.
– It started with good intentions.
Don’t be one of them. Charities can be helpful, but a real helping hand, not money is much more helpful. No wonder most of the people living in the streets thrive in the cities, it’s because we’re not teaching them how to fish, we just give them fish.
But enough about them, it’s about you. If you get to learn at least the basics in business, then you’ll be wiser in your every move and in shelling out your hard earned money. Because you know it already. It’s very insulting when you know something yet you became a victim in someone else’s money-making trap. It’s not the amount that will matter, the fact that you were outsmarted makes you feel like an idiot. Feeling this way makes you spend less because of your cautiousness and pride. Aside from frugality, you will also learn about proper investments, creativity, building strategies, and analysis on how and why certain businesses do something that appear to have good intentions on your part yet, making the business owner become richer while helping you.
– Do you know why malls are all over the place? It’s not just making it easy for you to shop, but this is because it’s a real estate investment. Calculate all the rents they can get from food stalls, and shops inside. Aside from that, once a structure is placed in a certain property, it increases the property value in that area because people flock more, and when there are more people, a once-rural area becomes a city. Aren’t they brilliant?
– Do you know why there are more outlets and banks offering services where you can pay your bills conveniently? It’s because they can use your money for the mean time and invest it, large amounts could earn thousands worth in just one day of stock buying and selling. They could also lend it to investors where they can get 10-30% interest rate. In short, your allowing them to use your money to make them richer. But it’s a win-win service, because as a customer, they’re making things easy for you as well. This is what it means to be business-minded.
So what are you waiting for? Start saving and create your own principles now. Any reaction is much welcome. If you think this article is very informative, don’t hesitate to share. In fact, you’ll never know you have helped someone just by sharing this. If you have additional key points, post them in the comments below.