By Aletheia Joy Carlos
Source: Great Performers
Since the COVID-19 pandemic started everyone has been greatly affected especially when it comes with their finances. Saving provides a financial backup for life's uncertainties; and one of the best way to save money is to set a goal. These simple hacks will set your mind to save without you feeling deprived.
1. Make a meal plan and cut down on online food orders
Source: BellyBelly
It overwhelms other people that they are now just one click away to order their meal. Unlimited choices, different types of cuisine, and most of all it is hassle-free; but those benefits come with a price and can cost around 200-500 pesos per meal. Imagine cutting that expense and save around a thousand pesos per day by cooking your own meal at home. Set a meal plan per week, budget your groceries, plus you get to learn how to cook.
2. Limit on your online purchases
Source: Money Crashers
Online shopping became part of every Filipino lifestyle, and shopping was made easy during this pandemic. Everything you need is within your reach and because of Lazada and Shopee's monthly sale, most shoppers are tempted to check out every time. Free shipping vouchers and cashback are their biggest marketing strategies; think of it this way, when they offer free shipping, you can check out everything in your cart; yes you can save at least P100 from fees but the amount you may save from not buying is greater.
On the contrary, while saving money is the key to a great financial future, it also doesn’t mean you should never spend money on yourself. Only buy what you really need and try asking yourself more than three times whether it is a NEED or a WANT.
3. Cable TV Plan vs Netflix or other streaming services
Source: CNET
Most people spend their time watching TV and loves to binge-watch their favorite teleserye and shows. Try weighing your options whether you spend most of your time watching from Netflix or your TV plan, check which has the better offer. By cutting off one or downgrading from premium to standard is a great way to save from your monthly subscription expenses.
4. Follow the 50-30-20 rule
Source: Swift Salary
The 50-30-20 is a rule which can help you maintain and budget your finances. The rule simply means that you should allocate
50% of your income towards your needs such as bills and rent,
30% of your income goes toward your wants such as traveling or shopping,
20% of your income is for savings or investment.
The simplicity of this rule can help people remember it and a way to become aware of your spending habits and control over spending and under-saving. By spending less on the things that don’t matter that much to you, you can save more for the things that do.
5. Add purpose to your saving goals
To effectively save money, you need to have a purpose on why you are saving up. This will help you have that "push" to save more. This mindset will set goals for savings and investment for future use like buying your own house. Having that dream home is attainable for as low as Php 15,000 reservation fee with Lessandra's affordable house and lot offers with great community and amenities. Lessandra is present nationwide and offers affordable Starter Series like Arielle, and Angat Series like Criselle, Ezabelle, and Frielle.
Interested to invest in Lessandra? Message and follow us on our official social media accounts: Facebook, Instagram, Twitter, Youtube, and Tiktok!
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