Share
Whether you’re trying to build a financial safety net, support your family, or finally break free from the cycle of paycheck-to-paycheck living, learning how to manage money is essential. Yet for many Filipinos, personal finance isn’t part of the school curriculum. As a result, most of us enter adulthood without a solid grasp of how to budget well, borrow responsibly, save consistently, or spend wisely.
That’s sad news because managing money is more than just arithmetic. It’s about decision-making, values, discipline, and timing. It’s also about knowing when and how to use financial tools to your advantage. For example, whether you’re using your Maya credit card for everyday spending or for a credit card cash advance during emergencies, the way you use your card can shape your financial health.
The good news, however, is you don’t need to be a financial expert to take control of your money. What you do need is the right mindset and some practical insights that many of us never got in school. Here are five of them.
1. Budgeting Is a Mindset, Not Just Math
Budgeting often gets a bad reputation as restrictive or tedious. But at its core, a budget isn’t about denial, it’s about freedom and clarity. It’s your way of telling your money where to go instead of wondering where it went.
So, instead of obsessing over every peso, start with your values. What matters most to you? Is it your family? Travel goals? Or, perhaps, your future home? Your budget should reflect those priorities. Therefore, rather than seeing budgeting as a limitation, view it as permission—permission to spend on things that bring real value and to decline expenses that don’t.
2. You’re Going to Spend So Spend with Intention
Spending isn’t a problem; it’s how and why we spend that matters. In today’s fast-paced world, it's easy to tap your credit card without thinking. But intentional spending makes all the difference. Take the Landers Cashback Everywhere Credit Card, for example. This card from Maya Bank is perfect if you’re a Landers member and a frequent shopper at the superstore. When you shop at Landers, you’ll start with a base cashback rate of 3% if your total credit card spending is below PHP 20,000. This rate increases to 4% when you spend a minimum of PHP 20,000, wherever you use your card, and then it increases further to 5% when you accumulate a total qualified credit card spending of at least PHP 50,000 during the month. Collect enough points that you can use as discount the next time you shop at Landers. So, as you shop for your groceries, dine out, or pay your bills, you get something back. That’s smart spending.
So, make it a habit to align your purchases with your goals. That could mean cutting back on trendy impulse buys in favor of experiences that enrich your life or tools that help you grow. When you treat every peso as a vote for the kind of life you want, your spending becomes a tool for empowerment, not a source of buyer’s remorse.
3. Not All Debt Is Bad
Debt often gets a bad rap, and with good reason. High-interest debt can snowball fast and trap you in a cycle of repayments. But not all debt is bad. In fact, strategic utilization of credit can be a stepping stone to greater financial security.
Let’s break it down:
- Good debt is often taken on with a clear purpose—for instance, to invest in your future or to manage your financial needs during critical times.”. When you take out a Maya Personal Loan to pay for your school tuition or a small business loan to buy new equipment, you’re taking on debt that can help you grow your income or change your life for the better. The potential returns, in these cases, outweigh the interest rates of the loan.
Meanwhile, borrowing money to cover emergency expenses such as medical bills or securing food or temporary shelter after a natural disaster is necessary to protect your well-being and safety. Taking advantage of a cash advance credit card feature is a good short-term solution for these situations, with the urgency of the situation often justifying the interest rates you have to pay. You need cash fast, and a cash advance gives you the resources you need. The key is to repay the credit card cash advance quickly to avoid compounding interest.
- Bad debt, on the other hand, is usually linked to instant gratification, like upgrading your gadgets unnecessarily or indulging in frequent online shopping using credit that you know you can’t pay for later on. If you’re already carrying bad debt, prioritize paying off high-interest balances first. This strategy saves money in the long run and helps you regain control faster.
4. You Can Enjoy Life without Overspending
Many people assume that being financially responsible means giving up life’s pleasures. Not true. In fact, smart money management is about enjoying life more fully without guilt or stress. The key is not in giving up fun, but in spending wisely. Instead of impulse buying or spending to keep up with trends, look for alternatives that bring real joy. For example, a picnic at a local park, exploring a new café with friends, or enjoying a movie night at home can be just as fulfilling as expensive nights out.
Also, quality over quantity matters. For example, investing in a well-made PHP 3,000 backpack that lasts ten years is better than replacing a cheap PHP 200 one every six months. Such a small shift in mindset can make your budget feel less like a diet and more like a lifestyle upgrade.
5. Compound Interest Is the Silent Power Behind Wealth
We see so many “get rich quick” schemes, but here’s the truth: playing the long game is the best financial strategy, and the reason why is compound interest. It’s the principle that your money earns interest, and that interest earns interest too. Over time, this creates a snowball effect. So, when you start early, even modest amounts add up significantly over the years. But even if you don’t save early, you can start now. The longer your money stays invested or saved in an interest-bearing account, the more powerful the effect. After all, compound interest rewards patience and consistency, not luck.
The Real World Is the Best Classroom
You may not have learned these money principles in school, but it’s never too late to start. Whether it’s building a budget, spending intentionally, or using tools like the Landers Cashback Everywhere Credit Card to support your lifestyle, every choice you make has the potential to move you closer to financial peace of mind. After all, managing money is about progress. So, learn from your mistakes, adjust when needed, and remember: every financial decision is a chance to shape the life you want. You don’t need to wait for a windfall or a perfect moment. Your next smart decision can start right now.
You might also like
These Stories on Maya Bank
It’s everything and a bank. What more could you need?
For existing PayMaya users, update your app to Maya
