6 Smart Ways You Can Save on Your Monthly Expenses
Feb 5, 2021 4:41:51 PM
There are two kinds of people: those who find it easy to manage their finances and those who don’t. If you belong to the second group, don’t worry. All hope is not lost. There are a lot of simple, smart ways that you can save money on your monthly expenses and make budgeting so much easier.
Here are just a few tips to get you started:
Join Promos… Wisely!
Many Filipinos love joining promos because of the promise of big rewards. However, there are times when people end up spending more money without receiving any benefits. For example, there are promos where you have to meet a minimum purchase requirement to earn a raffle entry. If you “force” yourself to buy something just to meet that necessary amount, then you’re not saving money at all.
Instead, look for promos and deals that can truly benefit you. If you have a car, then look for promos on fuel. For instance, PayMaya and Seaoil have a #ScanToPay promo where you can win a lifetime supply of gas. If you don’t win, then you didn’t lose anything because you need to gas up your car anyway. If you do win, then it’s definitely an incredible prize!
Buy Your Non-Perishables in Bulk
More often than not, buying in bulk saves you more money than buying “tingi” or retail. The key here is to determine which items to buy in bulk. Ideally, you should buy non-perishable goods wholesale. Examples include shampoo, soap, and toilet paper, as well as dishwashing soap and powder detergent. These are things you will use eventually so they won’t go to waste. Just make sure to store them properly.
There are also some food items that you can buy safely in bulk, such as cereals, coffee beans, dried beans, and even peanut butter. Again, just store them properly to ensure that they will last. Many of these items usually go on sale online, as well. Be patient in waiting and be diligent in looking for the best deals so that you can make the most of your money.
Don’t Buy Just Because Things Are On Sale
Speaking of sales, don’t be tempted to buy anything and everything that goes on sale. Don’t think “Okay lang ‘yan, sale naman eh.” This is the wrong mindset. If you buy something that you don’t need then you’re wasting money, plain and simple.
Obviously, this isn’t to say that you shouldn’t buy things on sale. Again, as mentioned above, there are plenty of necessities that you can buy in bulk during sales. Prioritize your needs over wants.
Make the Most of Coupons and Vouchers
Nowadays, particularly for online shopping, you’ll find sellers that offer coupons, vouchers, and other money-saving deals to attract more customers. Just like promos, make sure to study which ones will truly benefit you. Once you’ve found the best ones, it’s a good idea to stick to just one or two suppliers for your needs. Loyalty means a lot to sellers and you might find yourself earning further rewards that you can use for your future purchase.
You should also consider using payment methods that give you additional perks. For example, PayMaya has several merchant partners that give customers special discounts and deals when they pay for purchases using #ScanToPay.
Drink More Water and Prepare More Meals at Home
One of the easiest ways to save more money is to drink more water. For one, it’s healthier. It doesn’t have tons of extra sugar and other preservatives that can increase your risk of getting certain diseases. Ultimately, this means fewer trips to the doctor. Water is also cheaper compared to blended coffees, milk teas, and soft drinks.
While you’re getting used to drinking more water, it’s also a good idea to start preparing more meals at home. Again, like water, this is the healthier option. Not only do you have more control over the portioning, but you also know exactly what goes into your food. If you find that you don’t have a lot of time to cook daily, schedule a day or two in the week where you can batch cook. Then, store the food in the freezer so all you have to do is reheat.
Cancel Your Subscriptions
Here’s a question: how many subscriptions do you have? Three? Five? Ten? List everything down and then evaluate which ones you’re using regularly. It’s likely that you’re only really making the most of two subscriptions. The rest? Cancel them or at least downgrade if there’s the option to do so. You’ll be surprised just how much money you’ll save.
Of course, this doesn’t mean that you shouldn’t subscribe to anything. Again, you have to evaluate. If you have a subscription to an exercise app that’s helping you lose weight and maintain a healthy routine, then by all means continue that. The main thing to remember is that your subscriptions should add value to your life in a consistent manner.
Saving money as you pay your monthly expenses can seem challenging at first, especially if you’ve already developed some not-so-ideal habits. With these tips, you can hopefully start your journey towards becoming more financially mindful. Good luck!