Tuition costs more than 80k and then other basic needs so with the small earnings that I have, I barely get by. However, M and I have started talking and we really want to be able to set aside money for a house for us so we talked about how we can save money.
So here are 10 ways to save money that we have tried and tested. These have been proven effective so feel free to grab some ideas and if you have anything to add, let me know in the comment section below.
1. Save those Php5. Start now and by the end of the year, you would be surprised at how much you have saved without even noticing.
2. Reuse and recycle. Those ketchup sachet you get from fast food places, bring them home. Instead of buying ketchup, you can use it. It saves space and a little bit on the budget. The same goes for those creamer, sugar, and the like that you get from restaurants and hotels. Most people leave these things behind. I take them home. It has proven useful especially when you have visitors. You don't need to bring out your canisters because you already have the ones in sachet form.
3. Since I receive a lot of press releases, I recycle them as well. I have B use the blank side as scratch paper so I won't need to buy notebooks or scratch pads. The folders are also used by him when he passes on his paperwork in school. It also makes for a great conversation starter in his school because the teachers wonder why he has folders from Starbucks, Avon, ASUS, and the like.
4. Instead of eating out, we now have movie nights at home. It adds more bonding time for the family as well as M and it costs far less. We don't need to pay for gas, parking, and other things that will catch our eye that we don't need which is what happens when you are at a mall.
|movie night at my house last night|
5. Bring your own water bottle. This not only saves you money but also helps lessen even a tiny little bit on plastic consumption. A single bottle of water on average costs Php20 and when you order or buy water outside, you spend money. If you bring a water bottle with you, you are guaranteed clean water and at the same time, you don't need to spend for it. I realized the importance of this when I checked my son's consumption at school and saw he had been ordering bottled water for at least 11 days out of 22 days he's in school. That's Php220 that we could have saved.
6. Buy your chips and cookies from the grocery store. When you purchase from convenience stores or sari sari stores, the top up is high. You may think, it's only Php5 but if you add everything up, you will realize that a little amount can go a long way. See #1 on this list.
7. Choose water over soda and juices. It's healthier and most of the time, restaurants have house water that is free of charge. You did your body good and you saved your wallet from spending. Additional tip: Restaurants make a lot more money on drinks than they do on food.
8. Declutter. This may seem like it doesn't make sense but it really does. You see, most of us buy things because we think we don't have it or we need it. When we declutter, we realize how many items we actually have on storage and how many items we have that we actually don't need. It realigns your mind and the next time you grab that bottle of body wash, you will remember that you either never ever use it or you have tons of it waiting to be used at home. Money saved right there and then.
9. Money jar. You can have as much as 10 money jars and label it with whatever you want to save for. Is it travel? Shopping spree? Retirement fund? Wedding? Buying a home? It can be anything but have a jar for it and when you want to buy something you don't need, face those jars and then you will realize that you would rather put your hard earned money on those jars and get whatever it is you really want rather than getting another item that you just want but most likely won't use.
10. Put 20% of whatever you earn in the bank. This has been said time and time again but few people actually do it. Soon as you get your paycheck, deduct 20% and the 80% left is what you will use for your spending needs. It's always deduct savings then spend, not spend and whatever is left will be your savings.
These are all doable and easy to achieve. I hope that this inspires you to save a little bit more especially for the rainy days. I may not have much on savings but I am debt free and I think that is one of the most important things that you can say to yourself in this world.