Wise Up on Cash

Sure, you might have already heard this many times but, there is a reason why you are often told to save up and manage your spending.

Money, despite the fact that it just rolls in a cycle around us, is still as difficult to manage as time.  We oftentimes find ourselves modifying our lifestyles to fit our income the way we modify our activities to conform to the hours.

In short, we are managed by our money rather than having it the other way around.

This is especially true with young urban professionals (yuppies) in major cities where their sizable income usually fall short of covering all of their expenses.

Here are some tips that can help you save your paycheck.

1.      Buy clothes and items off season

I got this tip from a good friend of mine.  Stifle the urge to buy that swimsuit or those pair of shades this Summer.  Buy them during the rainy season instead when they are available at almost half the price and even at discounted prices.  The same goes with clothes and items we need for the rainy season so buy them during the Summer.  Clothes are usually more expensive when they are in season due to the law of supply and demand.  Be patient and save yourself some cash.

2.      Take advantage of the pre-loved

Pre-loved items, locally known as “ukay-ukay” or UK to the socialite on a budget, are of good quality despite their cheap price.  They actually defy the common knowledge that high quality and durable items should always come at high prices.  Ukay items are durable too and are usually unique in design because those second-hand shoes’ batchmates were already overused or trashed.  Don’t worry if some of them are already “out” in your fashion list because fashion has a cycle of rebirth that would make that style acceptable again.

3.      Stock up on basic food items

Condiments, instant coffee, eggs, garlic, onion, pepper, soy sauce and vinegar are kitchen staples that you have to stock in your house.  They are usually found in almost all Filipino recipes which mean that stacking them in your kitchen is a wise move.  This can help you save on fare or gas and even effort you need to go back to the department store and buy them piece by piece.

4.      Get your own internet

Having your own internet or wifi at home can save you a lot in the process if you are the kind who cannot last a day without going online.  Telecommunications networks offer plans as cheap as P999 per month which is way cheaper than the 15 to 20 lattes or meals you would have to buy from that coffee shop just to avail of their free wifi.  Plus, the gadgets which are priced at P15,000 to P30,000 each but are given free to loyak subscribers is a great perk you should not ignore.

5.      Score freebies and coupons

These can help you save a lot of money than discounts and sales.  Loyalty to a specific brand is a way of getting them.  Of course, you have to spend before getting these but you’ll soon feel the convenience knowing that you are availing of the services and products that you trust and feel that you get value for your money for.

6.      Save before you spend

No excuses.   No ifs and buts.  Set aside at least 20 percent of your monthly income the minute you get it before building your budget.  This ensures that you have ready cash during emergencies while allowing you to have enough money for home needs as well as live the lifestyle that you are used to.

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