It's still 5 days after your last paycheck and you realize that you won't have enough money to get you through the next two weeks! Are you experiencing "
Daily addictions that are NOT helping you save money
Spend less on: Coffee
Your daily cup of Joe may be the one responsible for draining the funds in your wallet. We get it. You need your caffeine fix very Monday (we do as well), but do you really need to splurge on a “venti caramel macchiato” daily? Save money by cutting back on this high sugar drink.
How much do you usually spend for your daily caffeine addiction? Okay, so you might have rolled your eyes a bit. I mean, who buys a venti caramel macchiato daily? That's crazy! Apparently, not as crazy as it seems as people buy signature coffee 4 to 5 times a week whether it's from Starbucks, Coffee
Save money for: Opening a bank account
With ₱3000, you can already open and maintain an ATM savings account at BPI and PNB. If you still want to use some of your money for the occasional trips to the coffee shop, the BDO ATM Savings
You don't have to fully give up your coffee shop experience, and we are not asking you to! We of all people know how hard it is to survive the daily grind without our fave cup of coffee, but we do recommend that you save money for the rainy days.
There are many ways to save money without giving up on coffee entirely. You can brew your own steaming mug at home or bring your own to-go cup to the office. Try to eliminate your signature coffee to one to two times a week and put the remaining money on opening a bank account and maintaining it. The first step to saving is budgeting your money, cutting back on spending, and then actually opening a bank account. Once you opened a bank account, you can put regular monthly savings for emergencies or for buying big ticket items. Don't you feel a little better already? The long term benefits of saving are better than a strong cup of coffee, mind you.
Spend less on: Eating out
Don't have time to prepare your
Food trips are good, but if they leave your wallet anorexic at the end of the month, then it's time for some change. Learn to save money by cooking basic meals and freezing some to be heated the next day. Plan
Save money for: Opening a stock market investing account
Want to learn how to save money and make your moolah grow? Take your savings to the next level and open a stock trading account. It only costs ₱5,000 to open an account
Stock trading can even be fun like playing your fave video game.
Spend less on: Beer and cigarette
Giving up on your smoking and drinking habit can have positive effects not only to your health but also to your wallet. A pack of yosi approximately costs ₱65, while a bottle of SMB Light is priced at ₱30. You might not know it but cigarette and beer
Save money for: Life insurance
Protect yourself not only by reducing smoking and
Budgeting your money can be challenging but once you have your savings,
Finally decided to stop splurging? Check out GoBear Philippines for more tips on how to save money on credit cards and other expenses.