For many homemakers in the Philippines, handling household finances is no easy task. From grocery shopping and paying bills to saving for future expenses and handling unexpected costs, the financial demands can feel overwhelming. With the rising cost of living, homemakers need to be resourceful and adaptable to ensure every peso of the household budget is spent wisely.
One way homemakers can navigate the complexities of household finances is by being madiskarte. It’s a term that encapsulates resourcefulness, creativity, and the ability to make things work with limited resources. Essentially, being a madiskarte homemaker means finding smart, effective solutions, whether it's stretching the family budget, finding ways to save on everyday expenses, or even generating extra income.
In this article, we’ll explore several smart money hacks every resourceful Filipino homemaker should know.
1. Create a Monthly Budget for Household Expenses
One of the first steps toward improving household finances is understanding where your money is going. Creating a monthly budget allows you to keep track of all household expenses and ensures that you’re not overspending. Start by categorizing your expenses into sections like insurance and investment payments, as well as expenses for education, utilities, groceries,, and leisure activities.
Once you have an overview of your expenses, prioritize the essentials and allocate your resources accordingly. You can use simple pen-and-paper or spreadsheet methods or use a dedicated free budgeting app to track your spending. The key here is to set realistic limits and revisit your budget every month to ensure you’re staying on track.
2. Increase Your Savings with Credit Card Rewards
Credit cards can be a valuable tool when used wisely. Many credit cards offer cashbacks, rewards points, or discounts on everyday purchases. As a homemaker, you can take advantage of these perks by using your credit card for regular expenses like groceries and dining out.
Just make sure to choose a credit card that offers the most benefits for your lifestyle. For example, consider the Landers Cashback Everywhere Credit Card if you frequently need to purchase groceries or household goods. This cashback credit card by Maya provides up to 5% cashback at Landers, 2% on dining spends, and 1% on all other qualified transactions.* These credit card points you earn can be converted into vouchers that you can redeem at Landers branches nationwide. Cardholders can also enjoy a generous annual cashback cap of PHP 200,000, making this one of the best rewards credit cards available today.
3. Shop in Bulk to Save Money
Another way to cut household expenses is by buying in bulk. Purchasing products like rice, canned goods, toiletries, and cleaning supplies in larger packs can significantly reduce the cost per unit. The key is to buy items that have a long shelf life or that your family uses regularly.
Warehouse stores like Landers are excellent places to shop in bulk. If you have the Landers Cashback Everywhere Credit Card, you can use it to enjoy exclusive access to premium finds, superb dining experiences, and other special perks at Landers stores nationwide. In addition to letting you earn credit card rewards for your purchases, it also serves as a Landers membership card.
Moreover, buying in bulk reduces the number of trips you need to make to the grocery store, saving you time and gas money. With fewer visits, you’ll not only avoid impulse purchases but also minimize the costs of travel and transportation. However, it’s essential to stick to items you genuinely need to prevent overspending and negating the savings you’ve gained.
4. Meal Prep to Cut Food Costs
Meal prepping is also a game-changer when it comes to managing household expenses. Planning meals ahead of time and cooking in batches help reduce food waste and ensure you’re not making last-minute, costly food delivery purchases.
Some Filipino meal prep ideas you can include in your weekly menu include those for easy-to-make dishes like adobo, lumpia, embutido, and pork giniling. These can be prepared in large portions and eaten over several days. When you prepare meals ahead of time, it will also save you time and energy throughout the week.
5. Generate Extra Income by Selling Homemade Goods
If you have a hobby or craft that you’re passionate about, consider turning it into a source of extra income. Many homemakers generate additional cash by selling homemade goods, such as baked treats, handmade accessories, or local delicacies.
You can start small by selling to friends and family or at local bazaars. Social media platforms can also serve as effective online marketplaces to reach more customers. This extra income can help with household expenses, or you can use it to boost your savings.
6. Start Saving Funds for the Future
It’s always a good idea to set aside extra money or a portion of your household funds for savings. Having an emergency fund is crucial in case of unexpected expenses, and it gives you peace of mind. Even small, regular contributions to a savings account can grow over time.
For greater returns, consider depositing money in high-yielding digital banks. For instance, when you open a Maya Savings account, you can earn a base interest of 3.5% p.a. This is much higher than what you can earn from traditional savings accounts, allowing your money to grow faster.
Being a madiskarteng homemaker means knowing how to make the most of your resources, and these smart money hacks can help you do just that. There are countless opportunities to save money and build a more secure financial future for your family. With these strategies in mind, you can certainly make every peso count for the benefit of your family.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
