by - Sunday, November 06, 2016

Most of us in our 20s are still in the phase of blowing out our monthly paychecks partying, dining out, shopping on high-end brands, and the list goes on.

Well, the main purpose of this post, clearly, is to save money, but how much you wish to save depends entirely to you. You may be familiar with some of the tips mentioned here, but do you really practice them? Let's make saving money a habit. If we do this all the time, we're likely to operate on autopilot.

Sure, it would take a little while before we see the results, but when it does, it will all be worth it when you find yourself having more money and be debt-free than usual. Wouldn't that be cool?!

I'm not a financial expert of any sorts, I just want to have more money, that's all. Think about it, aren't you tired spending all your energy thinking about not having money? I tell you that definitely sucks! This year has been the most financially challenging time for me, and I want to turn things around. They say, our expenses are directly proportional to our income, so no matter how big our income is, it would seem not enough because perhaps with the lifestyle we have, so here are some of the probably not-so-new tricks to managing our money well that works!

Let's get started!

The banks now offer services like auto savings. I know of one bank that timely transfers a selected amount from your ATM account to your Save-Up account: BPI Save-Up Automatic Savings. You can conveniently monitor your savings online or through an app on your smart phone. If you want an ATM savings account, you may open BPI Easy Saver. Just go to your nearest BPI branch and with 250 php, you can now open your own savings account with no maintaining balance. Well, it is all up to you to choose which bank you like, the point is, just open a savings account.

“But you, dear #GIRLBOSS, should save 10 percent at the bare minimum. I know it’s a lot easier to talk about saving money than it is to actually save it. Here’s a tip: Treat your savings account like just another bill. It has to be paid every month, or there are consequences. If you have direct deposit, have a portion of your paycheck automatically diverted into a savings account. Once it’s in there, forget about it. You never saw it anyway. It’s an emergency fund only (and vacations are not emergencies).”

― Sophia Amoruso, #GIRLBOSS

Don't spend more than you earn. There's a saying that goes, "don't go broke trying to look rich." I have no idea who said that, but that makes perfect sense with all the social media influence. Stop eating out. Make dining out something you do for a special occasion.

Instead of going out to the movies, download it! Hahaha, I sure am guilty of this. No transportation costs and movie fees!

How about inviting friends over instead of going out? It's much cheaper. Fire up the grill. Ask friends to bring booze, watch a movie or something, play cards, etc.

Keep a record of all your expenses to track down unnecessary spending.

Stick to your list! It's a golden rule to never shop when you're hungry. It's harder when you've got the munchies, you'll fill your cart with a lot of goodies.

"Always make a list of what you intend to buy. This will save you time trying to remember exactly what you came out for. Also, if you don’t make a list, it is easy to forget an essential item that will result in a second trip being made. Yet another waste of time and money."

― How to Save Money Hundreds of Money and Time Saving Hints.

This is a delaying tactic when the temptation of spending money is hard to resist. If you get really tempted to buy an item, hold it in your hands for 10 seconds, and think reasonably. Do you really need it or is it something that's gonna get tossed aside after a week or so collecting dust at the corner of your room? Don't lose judgement. If you're considering making a big purchase, why not wait for 30 days and then see if you still feel the need for it.

Watch out for a sale! Bargain hunting can save you huge money. With discounts ranging from 50-70%, it almost sounds unbelievable. Just make sure your bargain is really a bargain by checking other stores for prices before purchasing.

You can also go thrift shopping for branded clothes at a very low price.

Go for wardrobe basics and versatile or easy-to-match pieces.


Yes, your play account. This is where you get to spend some money rewarding yourself. This is where you take your dining out and travel expenses or simply buying something that you've been eyeing for weeks. You can put any amount you're comfortable with here. The main goal is NOT TO TOUCH your savings (investment) account.

These are my top 5 tips to utilizing your money efficiently. Hope this helps you control your spending habits and make sensible purchases. The key here is discipline. Good luck and happy saving!

Let me know your thoughts on the comments below.

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