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Personal Financial Tips for Filipinos. The Practical and Effective Method

The fact is the value of Philippine Peso goes down year on year while the prices in the market go up from time to time. The reality is harsh. You have no choice but to accept it and make some budget adjustments to ensure you can still get by and live like everyone else.

In this post, I’ll share effective money saving tips for college students, young professionals, dedicated employees, and even entrepreneurs in the Philippines from my successful friends and colleagues.

What are the Personal Financial Tips You Should Live By?

Personal Financial Tips Philippines - Will Rogers
Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like. – Will Rogers

1. Remember to live below your means.

When my grandmother was still alive she keeps on reminding me of this Filipino idiom “kapag maiksi ang kumot, matutong bumaluktot” which simply means do not spend more than what you earn. Always learn how to be contented and never engage yourself into a social climbing type of lifestyle.

2. Create a budget and monitor your cash flow.

Get a paper and a pen. Start jotting down your daily expenses (transportation, food, utilities, life insurance investment and etc) and also list down how much do you get on a monthly basis. When you’re done, craft an initial plan on your daily budget. Live by this quote “budget today for the lifestyle you want tomorrow” and it might help you.

3. Drink water and say no to soft drink, energy drinks or juice.

Fortunate for us that we don’t live in France or anywhere in Europe or else buying a bottled water is gold. In the Philippines, you can even drink water coming from the faucet though some would not recommend it but what matters most is that it’s free. The only requirement to comply on this is discipline.

4. Bring your packed lunch.

Once you’ve tried doing this for a month, you will realize how much money you can save, you would not believe. Leil is a new breed of Digital Marketer in the Philippines, she started bringing her packed lunch to the office for a month and she has saved Php5,000 already.

5. Subscribe to UnliCalls, UnliSMS and Unli Internet.

Regardless what telco network you are, ensure that you are subscribed to any of these promotions to save some money as well. Smart GigaSurf 50 has a lot to offer especially on connecting your mobile on the internet.

6. Learn how to say no, explain, period.

Yes, you can say no to your family, friends, and colleagues. The may get angry but few good friends will surely understand your situation. Don’t wait for your budget to run out, start saying no.

7. Don’t make impulsive purchases.

Plan, plan and plan before you make a transaction. Remind yourself if this is a want or a need. At the end, if you were able to train yourself with this skill, you will have a clear advantage over your peers.

I hope that these personal financial tips would really guide you from now on. Save wisely my fellow Pinoy!

Do you feel that the list is short or I missed anything? Please use the comment section box below for your suggestions.

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