Mary Rae Floresca | Negosentro.com
“Kapit lang bes, sana paggising ko, suweldo na.” This is such a popular statement that pops up on social media when it’s nearly pay day. Don’t join that mantra, instead, learn how to efficiently maximize your money until next payday.
1. Budget before you get your payroll One trick to make your suweldo last is to budget your expenses even before you receive your cutoff. Make a mindset that when you will withdraw later, you know where to put your money.
2. Stick to your budget As difficult as it may sound, as an adult, you have to commit to sticking with your budget. You don’t have to torture yourself to not buy that bar of chocolate or one drink of beer, you just need to learn self-control.
3. Always bring cash Do not get into the habit of swiping and swiping your debit or credit card. It is better to use cash because you gain interests with it and the several small purchases you do, you might forget you have an expensive bill to pay. Better to use a card for big purchases that is zero percent installment.
4. Set a small budget for “extra” expenses These extra expenses may include sudden lunch-outs with colleagues, clothes or medicines. Then if you did not spend that budget, better save it than obliging yourself to buy unnecessary “extras.”
5. Track your expenses Belle de Jour already made up an Expense Tracker planner that will help you budget your expenses. Or you can just have a notebook for it, or expense apps. As rigorous as it is, you need to know where you put your money into and you would know what expenses you need to cutoff and need more.
6. Commute the “hard way” Cut down your expenses on going to work with the comfort of Uber or Grab. Wake up earlier than usual when it’s already petsa de peligro, commute to work by jeepney, MRT or bus. If you need more stash to save, do it on a regular basis, ride Uber when it is really necessary.