Are you looking for ways to save an additional ₱10,000 every month? Look no further — we’ll show you 8 easy ways to do so in this Smart Money Tip!

7 - Save money

Dito, malalaman mo na mayroon pang 8 paraan para makatipid ka ng dagdag na ilang daang piso sa pang-araw-araw mong gastusin.

At ang okey pa sa 8 paraan na ito, hindi sila mahirap gawin! All it takes are small adjustments in your lifestyle and before you know it, you would’ve already saved an additional ₱10,000 in a month.

So, ano ang 8 paraan na ito? Below, we share with you eCompareMo’s article and infographic detailing the first 7 ways.

After that, we’ll also share with you 1 more important way to increase your savings. It’s one of the two (2) Smart Money Tips we can learn in this article!

We often look for radical ways on how we can improve our financial status.

Sometimes, all it takes to turn around your dire financial situation is to make small changes in your everyday lifestyle — small ways that compound to something big when it accumulates over time.

To give you and example on how to small changes can contribute to big savings, eCompareMo.com presents you this nifty infographic that will remind you that small lifestyle changes can help you save.

7 - Save lifestyle changes

 

Source: eCompareMo

Lessons learned

Anong Smart Money Tips ang matututunan natin from this article?

1. Small changes can lead to big differences.

 

Pagkatapos mong makita ang infographic sa taas, baka tinatanong mo sa sarili mo:

“So paano na ako makakatipid ng additional na ₱10,000 kada buwan?”

Simple lang! You can save an additional ₱10,000 every month if you implement these 7 small lifestyle changes every day:

  1. Preparing your own packed lunch instead of eating out
  2. Taking public transportation instead of a taxi
  3. Grinding your own coffee beans instead of buying at Starbucks
  4. Not smoking anymore instead of continuing to do so
  5. Drinking service water instead of sodas
  6. Not drinking alcohol anymore instead of continuing to do so
  7. Preparing your own packed snacks instead of buying snacks at convenience stores

So if your spending habits are similar to that of the IMPRACTICAL person in the infographic, changing your spending habits to that of the PRACTICAL person will save you ₱465 (₱665 less ₱200) every day.

And as there are typically 22 working days in a month where you’ll take out money for the expenses mentioned above, multiplying ₱465 by 22 saves you an additional ₱10,230 in a month!

Hindi mo kailangang kumuha ng pangalawang trabaho o sideline para makakita ng additional na ₱10,230 sa iyong bank account kada buwan!

30 - Decreasing Expenses

Isn’t it great to know that implementing these 7 small changes in your lifestyle can lead to having an additional ₱10,230 in your bank account every month? You probably never thought that such small changes can lead to big differences in your financial life!

Ito ang rason kaya baka hindi mo pa sila naiisip. Napakaliit nilang bagay kaya di mo sila napapansin. O kung napansin mo man, di mo inakalang may epekto pala sila. But when put together and accumulated, these small things make 10,230 positive effects in your bank account.

Ngayon, baka iniisip mo:

“Pero ayokong gawin ang lahat ng lifestyle changes na ito. Would it still be worth it to change some of my spending habits?”

The answer is a resounding YES!

Let’s say you can implement all these small changes except for preparing your own lunch and commuting; you’d prefer to eat out and keep taking cabs instead. By retaining those expenses, you still stand to save an additional ₱255 a day, instead of ₱465.

Multiplying this number by 22 working days in a month results in ₱5,610 in additional savings every month!

So even if you implement just some of these small changes in your lifestyle, you’d still be increasing your monthly savings by a significant amount of money. That’s why we urge you to take a look at your daily expenses and see which ones you can reduce by making small changes in your lifestyle.

And if these 7 ways aren’t enough, here’s the 8th way.

 

2. The 8th way: Differentiate between needs and wants. 

 

Admittedly, the 8th way is geared more towards your big expenses and not so much your small, every day ones. But as you’ll see, differentiating between needs and wants still helps you rationalize all your expenses and can help you increase your savings!

Madalas, ang nagpapalaki ng gastos at nagpapa-overbudget sa atin ay ang ating “Wants” at hindi ang ating “Needs”.

30 - Needs VS Wants 2

As the term implies, Needs are what we cannot live and function without, like food, means of transportation, and utilities like electricity and water.

Photo courtesy of Charity for Humanity

Photo courtesy of Charity for Humanity

Wants, on the other hand, are products and services that we don’t really need yet we spend for them for reasons like: we think they will make us happy, we are pressured by society to display our financial worth, and so on.

Ang mas malala pa, ang ating Wants ay nagmimistulang Needs sa isip natin! This happens when the reasons why we spend for Wants get stronger than ever in our minds.

Think about it:

Pag naniniwala tayo na ang isang Want, gaya ng luxury bag o designer shoes, ay makakatanggal ng lungkot natin sa trabaho, edi sigurado gugusthin nating gumastos para sa mga Wants na ito! Kahit na ang totoo ay ang lungkot natin ay hindi matatanggal ng isang Want kasi WALA naman talagang kinalaman ang Want na ito tunay na problema (ang lungkot natin sa trabaho).

When faced with the dilemma of your Wants trying to overpower your Money Mindset, think about this instead:

Which is more important — your Wants or your financial goals? Are your present day Wants more important than your dream home, future car, children’s education, and all your other financial goals?

30 - Financial goals VS Wants

This will help you see once again how your Wants pale in comparison to your financial goals!

And if you need to employ drastic measures to help you distinguish which of your expenses are Wants and which are Needs, ask yourself this:

If I didn’t spend for this item, will I still be able to live and function well every day?

Yes, it’s a little extreme, but it still speaks the truth!

30 - Starbucks expensive -Will you be able to live without your cups of Starbucks coffee every day? Can you lessen your coffee consumption and/or replace your Starbucks coffee with a more affordable cup of coffee instead?

Will you be able to live without your car’s performance enhancements?

Will you be able to live without the newest iPhone?

Will you be able to live without that Vikings buffet?

Will you be able to live without buying another watch?

The answers to these types of questions are very obvious. And as such, the difference between Needs and Wants are very obvious as well.

Pag klaro na sa isip mo ang pagkakaiba ng Needs at Wants at nabawasan (o natanggal) mo na ang iyong Wants, siguradong higit pa sa ₱10,000 kada buwan ang ilalaki ng savings mo!

 

Having learned these Smart Money Tips, what small changes to your lifestyle do you think you can implement to save more money every month? At magkano kaya ang matitipid mo dito? Let us know in the comments section below!

 

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