It’s not like we live somewhere where we can ask for a student loan and not worry about our scholastic expenses, right? Most Filipino students have a hard time budgeting the allowance that their parents give them because it is almost enough for the daily expenses; you’re lucky if you have more than 200 Pesos sitting in your pocket once you arrive home after school. So how can a Filipino student effectively say that they have saved money?
Bring your own Baon and pick water over soft drinks or juice
Yes, even if you are already studying in college, if you want to save money, you would do it. If you think that this act is so childish or immature, then think of other ways better than this tip to cut off expenses. Think of a 50-peso meal and a 10-peso bottle of water; imagine that is already 60 pesos cut off from your expenses; if you go to school 5 times a week, then you would have already saved around 300 pesos by just bringing your own food and water.
Think before buying
A lot of students get excited in buying something even though they are unsure if they really need that thing. This is because they are not the ones who earn the money they use but there will come a time that they will learn. Do not let this happen to you; as early as now, learn to think before you buy certain things. There are a lot of alternatives to everything – it’s just a matter of diskarte and discipline.
Commute in the cheapest way possible
This goes to all students who commute. If you can ride the jeepney instead of the fx or the van, then why would you choose an fx that is most likely hotter than riding a jeepney? If you need to attend school at 7am, chances are, the sun is not at its highest point by then and besides, you will go home in the afternoon. If you think and know that riding the jeepney won’t hurt you, then choose it in order to save.
Buy second-hand books
In college, there are courses that require you to have books and buying a brand new one is no different than buying it from a higher year-level. There are a lot of books just lying in the market waiting for you to buy them. An example would be the book Iliad which most probably is required in Literature classes. The brand new book costs around 400 pesos but there are students who have no use of the book anymore and they sell it for something around 200 pesos. If you have a dear friend then you have a chance of getting it for free.
Do not spend recklessly
Budget your money, budget your allowance – make a budget plan to save yourself. You can ask your friends to split bills or if you are in a dorm, you can ask dorm mates to share shampoo, toothpaste, etc. Think about the things you can share; think about the things you can split in order for you to save. Do not spend on items you don’t really need – the time will come when you can afford everything but for now, you need to live below your means in order for you to effectively save money.
I hope that these things can help you with your problem in saving. These are probably the simplest but the most impactful ways that can change your spending from 100 – 0 real quick. Have time to think about expenses and to lessen them in total.