Frugal Living: What Habits Help You Save Money?

[minicarph]

And you can only do that if you live below your means.

A lot of people buy the latest this and that because technically they can afford it, but it comes at the expense of savings and investments which in turn hurts their long term financial health.

It's okay to spend 100k per month if your income is 1M, as compared to spending only 50k per month but your income is only 60k. It's all about budgeting and having a mindset focused not only on the short term.


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With this thinking, I believe the 100k will be spent mostly on food. Because subconsciously savers are still guilty on spending 100k, so they spend on food which they justify in their heads na need Ito not want,

That's why so many savers are fat

[jut703]

With this thinking, I believe the 100k will be spent mostly on food. Because subconsciously savers are still guilty on spending 100k, so they spend on food which they justify in their heads na need Ito not want,

That's why so many savers are fat

Eh ba't hindi ako mataba? [emoji12]


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[minicarph]

Eh ba't hindi ako mataba? [emoji12]


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Kumita ka ba ng 100k a month. I used to earn 450k a month when I was 25 years old, I grew fat those years

[minicarph]

Enjoy your life... Pero dapat may savings pa din...
Me I only spend small percentage of my income... The rest savings...


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Don't save too much *glenn, kukunin sayo ng Diyos yan. savings make people relax and lethargic maybe even couch potato. In other words, they do not push for their true potential - complacent

In the news, I always hear about the large deposits of Filipinos nowadays, That's a good thing coz I now know people are staying at home and feeling safe with their money. So many people to manipulate

[unmarked]

Habits that help me stay within budget:

Automatic/regular schedule ng transfer sa savings account.

Before bumili ng shoes (mahilig ako) kelangan balikan ko once or twice. Pag mejo nabawasan ang itch ko means naka iwas ako sa impulse buy

Tubig lang ang panulak ko sa restos. Grabe profits ng mga yan sa isang baso basta may kulay.

Di mo kelangan pagkaitan ang sarili mo, kelangan lang may budget para sa luho.

You need to have some sort of responsibility kahit single/living with parents. I am renting now and paying all of my bills pero mas may ipon pako ngayon compared nung nasa parents ako naka Tira.

Lastly. Everybody has to have a goal. Mahirap mag ipon just because. Whether emergency fund, retirement, car, house, there has to be a goal, amount and timeline.

[badkuk]

Before bumili ng shoes (mahilig ako) kelangan balikan ko once or twice. Pag mejo nabawasan ang itch ko means naka iwas ako sa impulse buy

i do this too. When i want something, i obsess over it, look for reviews, prices, etc. By the end of it naumay na ako and i'm not interested anymore ^_^

i keep my formal/leather shoes at the office, and wear "laspag" shoes(branded but on sale, typically under 2.5k; the really cheap ones are uncomfortable and don't last long) during commute. True nakakasira ng porma, but ZFG.

Whenever possible, i buy items in bulk for better pricing, and look for cheaper sources even if it's farther, or i have to haul it myself. Kahit 10-20 peso saving e pamasahe din yan.


Re credit cards: unless you do have a strong tendency to splurge, they do have their advantages:

- Security Bank credit cards do offer 2-5% rebates depending on what you pay for;
- BDO credit cards give you a 100-peso gift certificate for every 3k spent;
- PSBank offers a credit card with no annual fees forever.

BPI probably has the least useful promo -- free Jollibee/Chowking ^_^


If you enroll your recurring/household bills into your credit card, you can easily accumulate mad points/rebates/mabuhay miles over time.

[minicarph]

Exercise, excercise exercise to eat less, wear unbranded clothes and still look good, and experience endorphins to have self-esteem so that you won't seek self-confidence in material things

[glenn manikis]

Simple living... Contentment, no big cash on hand...

[Lew_Alcindor]

Eat less?

Ang tipid ko nga. May Polo at tshirt pa ako ng more than a decade old. Bench brief na more than a decade old din hahahah (pang bahay lang).
Shoes na 10 yr old (wedding shoes ko). Isa pang more than 10 yrs old na shoes hahaha.

[dr. d]

always buy in cash. no credit card.
the mall is an exercise place, not a place of commerce.
stick to your buying list.
eat decently.

[shadow]

YOLO! [emoji23]

If it will not make you piss poor if you bought something or it will not make you rich if you didn't ... Go and buy it.


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[admiral88]

Tingin muna sa OLX, kung wala, eh d dun sa store with the best price.

[EQAddict]

YOLO! [emoji23]

If it will not make you piss poor if you bought something or it will not make you rich if you didn't ... Go and buy it.


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I like this!!!!!!!!

[jut703]

YOLO! [emoji23]

If it will not make you piss poor if you bought something or it will not make you rich if you didn't ... Go and buy it.


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Bro I generally agree with this statement, but I have some reservations.

For example, I want a new dSLR. Di ko naman ikakahirap, so I buy one. Then, I realize I want nice lenses. Again, I can afford the lenses so I buy them.

Then, a month after, I realize I want to try biking. Again, di ko ikahihirap yung pagbili ng mountain bike, so I get it.

Then I want an iPhone, then a Macbook Pro, and so on. In other words, an endless cycle of giving into these "wants", with the reason that I can afford them anyway and buying them won't make me any poorer.

But at the end of, say, 1 year, the total cost of these toys would have been enough to cover the downpayment of a condo.

It's true that the act of buying any single one of these wants did not make me substantially poorer. But the mindset of buy-what-i-want-because-yolo meant that I pay the opportunity cost of being able to make bigger investments and purchases.

Yes, you only live once. But on average, that one life will last you 3/4 of a century. If you want to be comfortable for your entire lifespan, you can't just live for now, you have to prepare for the medium and long-term as well.

Don't get me wrong, I'm not advocating that we should all live like paupers in the present so that some time in the future we can splurge all our savings and investments. Rather, I prefer to try and avoid the root of excessive spending - materialism.

Admittedly it's very difficult to try and be happy with little. I myself find myself having moments where I just want to buy this and that. But you can keep it in moderation - perhaps set a maximum budget for your toys instead of a carefree spending attitude.

Of course, if you're just forcing yourself to be thrifty, but deep inside you want to splurge, sooner or later you'll wallow in self pity and unleash a spending spree. Which is why I go back again to focusing on moderating your materialism instead - be happy with little, focus on more important aspects of life (relationships, experiences, a sense of purpose).




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[EQAddict]

Bro I generally agree with this statement, but I have some reservations.

For example, I want a new dSLR. Di ko naman ikakahirap, so I buy one. Then, I realize I want nice lenses. Again, I can afford the lenses so I buy them.

Then, a month after, I realize I want to try biking. Again, di ko ikahihirap yung pagbili ng mountain bike, so I get it.

Then I want an iPhone, then a Macbook Pro, and so on. In other words, an endless cycle of giving into these "wants", with the reason that I can afford them anyway and buying them won't make me any poorer.

But at the end of, say, 1 year, the total cost of these toys would have been enough to cover the downpayment of a condo.

It's true that the act of buying any single one of these wants did not make me substantially poorer. But the mindset of buy-what-i-want-because-yolo meant that I pay the opportunity cost of being able to make bigger investments and purchases.

Yes, you only live once. But on average, that one life will last you 3/4 of a century. If you want to be comfortable for your entire lifespan, you can't just live for now, you have to prepare for the medium and long-term as well.

Don't get me wrong, I'm not advocating that we should all live like paupers in the present so that some time in the future we can splurge all our savings and investments. Rather, I prefer to try and avoid the root of excessive spending - materialism.

Admittedly it's very difficult to try and be happy with little. I myself find myself having moments where I just want to buy this and that. But you can keep it in moderation - perhaps set a maximum budget for your toys instead of a carefree spending attitude.

Of course, if you're just forcing yourself to be thrifty, but deep inside you want to splurge, sooner or later you'll wallow in self pity and unleash a spending spree. Which is why I go back again to focusing on moderating your materialism instead - be happy with little, focus on more important aspects of life (relationships, experiences, a sense of purpose).




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Its true that Your ideas and shadow's arent mutually exclusive. The key ingredient in the mix is 'priorities.' Have a decent compass and a good sense of priorities. Tick those off one by one. And along the way, if the bug bites you, just make sure you dont compromise those priorities. That should be a strict rule.

Everything is finite and all expenditures eventually add up. Its a basic tenet that everyone must embrace. In my case im at the stage where ive already saved for the future, for the kids, etc. Nothing too stupendous but not something to sneeze at either. But i cant always be in investment mode. If i were i'd be miserable. I am also realistic about my wants. And i Also realize that the window wherein i can enjoy these is shrinking (im 40 afterall). I balance both.

[badkuk]

Bro I generally agree with this statement, but I have some reservations.

For example, I want a new dSLR. Di ko naman ikakahirap, so I buy one. Then, I realize I want nice lenses. Again, I can afford the lenses so I buy them.

Then, a month after, I realize I want to try biking. Again, di ko ikahihirap yung pagbili ng mountain bike, so I get it.

Then I want an iPhone, then a Macbook Pro, and so on. In other words, an endless cycle of giving into these "wants", with the reason that I can afford them anyway and buying them won't make me any poorer.

But at the end of, say, 1 year, the total cost of these toys would have been enough to cover the downpayment of a condo.

Andami kasing distractions these days. Lots of new hobbies, gadgets, plus the media. One time i got hooked on MtG cards...man, when i think of the money i spent then, ngayon nakatambak na lang.

i don't always manage to fight off these impulses, but i do try to justify the purchase, e.g. is it a need or a want? Will i need it every day? Will this cost me more money later?

i also look at my "gadget graveyard" and ask myself, is this another impulse buy? ^_^

If i do give in, i try to get the best value for money brand/model. As with any purchase, you have to justify the cost.

[minicarph]

Andami kasing distractions these days. Lots of new hobbies, gadgets, plus the media. One time i got hooked on MtG cards...man, when i think of the money i spent then, ngayon nakatambak na lang.

i don't always manage to fight off these impulses, but i do try to justify the purchase, e.g. is it a need or a want? Will i need it every day? Will this cost me more money later?

i also look at my "gadget graveyard" and ask myself, is this another impulse buy? ^_^

If i do give in, i try to get the best value for money brand/model. As with any purchase, you have to justify the cost.

I don't get swayed with collections, hobbies, or whatever trend is in as of the moment. I believe it's a coping mechanism coz people have low self-esteem coz they 're fat. They try to find happiness or purpose in these superficial things, and therefore, it gets more costly

As they grow older, they would realize it's not the answer coz they will still Long for interaction with people.

The best interaction is humarap ka katawan katawan with other people with little material or hobby to identify you and still come out involved in the interaction

Japan's akihabara district only proved to me that the Japanese ain't that great as they are portrayed to be. They're so lonely they have to invent anime and robots to cope up with their boring lives,

I think some Japanese might even want create Japanese ***y robots, because they can control it

[shadow]

Bro I generally agree with this statement, but I have some reservations.

For example, I want a new dSLR. Di ko naman ikakahirap, so I buy one. Then, I realize I want nice lenses. Again, I can afford the lenses so I buy them.

Then, a month after, I realize I want to try biking. Again, di ko ikahihirap yung pagbili ng mountain bike, so I get it.

Then I want an iPhone, then a Macbook Pro, and so on. In other words, an endless cycle of giving into these "wants", with the reason that I can afford them anyway and buying them won't make me any poorer.

But at the end of, say, 1 year, the total cost of these toys would have been enough to cover the downpayment of a condo.

It's true that the act of buying any single one of these wants did not make me substantially poorer. But the mindset of buy-what-i-want-because-yolo meant that I pay the opportunity cost of being able to make bigger investments and purchases.

Yes, you only live once. But on average, that one life will last you 3/4 of a century. If you want to be comfortable for your entire lifespan, you can't just live for now, you have to prepare for the medium and long-term as well.

Don't get me wrong, I'm not advocating that we should all live like paupers in the present so that some time in the future we can splurge all our savings and investments. Rather, I prefer to try and avoid the root of excessive spending - materialism.

Admittedly it's very difficult to try and be happy with little. I myself find myself having moments where I just want to buy this and that. But you can keep it in moderation - perhaps set a maximum budget for your toys instead of a carefree spending attitude.

Of course, if you're just forcing yourself to be thrifty, but deep inside you want to splurge, sooner or later you'll wallow in self pity and unleash a spending spree. Which is why I go back again to focusing on moderating your materialism instead - be happy with little, focus on more important aspects of life (relationships, experiences, a sense of purpose).




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I agree with you. I'm talking in general naman. Of course dapat meron ka rin contentment and moderation din.

But in a situation you're overtaking of buying something. That's the rule of thumb.

Mahirap din kasi ipon ng ipon. I mean we should all have savings but we need to enjoy life as well. We have to find the balance.

I'm not saying we should live pay check to pay check. Pero if you know how to earn money, should also know gown spend it.

I don't like to be those retirees na they are only enjoying life now when they're already old. Travel around the world eh wala ng kwenta Hinde na makalakad etc.

Saka I subcribed to while we are still young travel as far as you can, as often as you can afford. While you can still manage long haul flights. Imaging kapag matanda ka na tap mag around the world ka. Wala na.

Basta you should know your priorities. Hinde rin naman pwede ibibili mo muna ng gadgets tapos utilities mo Hinde pa bayad. Marami rin kasi ng ganyan. Inuuna yun bibilbin pero Hinde pa pala mga bills.


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[jut703]

Its true that Your ideas and shadow's arent mutually exclusive. The key ingredient in the mix is 'priorities.' Have a decent compass and a good sense of priorities. Tick those off one by one. And along the way, if the bug bites you, just make sure you dont compromise those priorities. That should be a strict rule.

Everything is finite and all expenditures eventually add up. Its a basic tenet that everyone must embrace. In my case im at the stage where ive already saved for the future, for the kids, etc. Nothing too stupendous but not something to sneeze at either. But i cant always be in investment mode. If i were i'd be miserable. I am also realistic about my wants. And i Also realize that the window wherein i can enjoy these is shrinking (im 40 afterall). I balance both.

I agree with you. I'm talking in general naman. Of course dapat meron ka rin contentment and moderation din.

But in a situation you're overtaking of buying something. That's the rule of thumb.

Mahirap din kasi ipon ng ipon. I mean we should all have savings but we need to enjoy life as well. We have to find the balance.

I'm not saying we should live pay check to pay check. Pero if you know how to earn money, should also know gown spend it.

I don't like to be those retirees na they are only enjoying life now when they're already old. Travel around the world eh wala ng kwenta Hinde na makalakad etc.

Saka I subcribed to while we are still young travel as far as you can, as often as you can afford. While you can still manage long haul flights. Imaging kapag matanda ka na tap mag around the world ka. Wala na.

Basta you should know your priorities. Hinde rin naman pwede ibibili mo muna ng gadgets tapos utilities mo Hinde pa bayad. Marami rin kasi ng ganyan. Inuuna yun bibilbin pero Hinde pa pala mga bills.


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Wise words, my friends. I think the type of financial advice best suited to a person will depend on where he/she stands right now.

If he's a young guy, just starting out, with a penchant to splurge on material things, it's best to advise him to consider the future and learn to save and invest and moderate his spending.

If he's an old guy, established in life with all the basics covered, with a penchant to still save and save until his twilight years, it's best to advise him to live a little, enjoy what he's worked hard for, and maximize life while he still can.

Most people will fall into the middle of these two extremes, and the path to moderation will be different for each individual. The key is to acknowledge where you stand, and be clear about what your goals are.


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[EQAddict]

Wise words, my friends. I think the type of financial advice best suited to a person will depend on where he/she stands right now.

If he's a young guy, just starting out, with a penchant to splurge on material things, it's best to advise him to consider the future and learn to save and invest and moderate his spending.

If he's an old guy, established in life with all the basics covered, with a penchant to still save and save until his twilight years, it's best to advise him to live a little, enjoy what he's worked hard for, and maximize life while he still can.

Most people will fall into the middle of these two extremes, and the path to moderation will be different for each individual. The key is to acknowledge where you stand, and be clear about what your goals are.


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No truer words have been said.