If you’ve ever looked at your bank account and felt like your money disappears faster than you can earn it, you’re not alone. Many young adults in the Philippines face the challenge of enjoying life’s little pleasures while living on a tight budget, constantly juggling expenses like rent, bills, and social activities. To make ends meet, many would often compromise on basic necessities or work multiple jobs just to get by. But making every peso count doesn’t require drastic changes. It’s all about making smart spending decisions that will help you live comfortably now while building a secure financial future. In this article, we’ll provide you with practical tips that you can take into consideration to stretch your pesos further and achieve your financial goals.
Hunt for Deals and Discounts
Being on the lookout for the best deals and discounts is one of the simplest ways to stretch your money. With many retailers and online stores regularly offering discounts or promos on items, doing a little research before making any purchase can go a long way. A great way to stay updated on exclusive deals is to sign up for newsletters or follow your favorite brands on social media. This way, you’ll receive notifications about upcoming sales, limited-time offers, or special promotions directly in your inbox or social media feed, ensuring that you never miss an opportunity to save.
The key to making the most of this strategy is to spend mindfully. Just because an item is on sale, it doesn’t mean you have to buy it at the moment, as this can lead to unnecessary spending. As such, before you buy a discounted item, ask yourself if it’s something you genuinely need or if it aligns with your financial priorities. Approaching discounts thoughtfully can help you avoid making impulsive purchases while maximizing your savings.
Take Advantage of Credit Card Rewards
If used strategically and responsibly, credit cards can be a powerful tool for saving money. Many cards offer rewards programs that enable you to rack up credit card points quickly, which can be redeemed for discounts on various expenses like groceries. A cashback credit card, for example, lets you earn back a percentage of your purchases. With this card, you can turn everyday spending into an opportunity to save with every swipe. The key is to use a cashback card that aligns with your spending habits so that you can maximize its rewards structure.
For instance, if you’re a Landers Superstore member, then the Landers Cashback Everywhere Credit Card is designed for you. This Maya credit card serves both as a cashback credit card and a Landers membership card, eliminating the need to bring multiple cards when you go shopping. The Landers Cashback Everywhere Credit Card also offers amazing credit card rewards with each use. Not only will it give you up to 5% cashback at Landers but also 2% on dining spends and 1% on all other qualified transactions.*. Plus, you’re given a generous annual cashback cap of PHP 200,000, making this one of the best rewards credit cards in the Philippines.
Make sure to always pay off your balance in full each month to continue enjoying the card’s rewards structure. Carrying a balance can quickly outweigh the benefits of any rewards you earn. To avoid unnecessary debt, you can set up payment reminders on your phone and use a budgeting app. This can help you stay on top of due dates and prevent interest from accumulating.
Use Discount Cards and Apps
Many stores and supermarkets offer loyalty cards or programs that enable you to earn points or receive discounts after accumulating a certain number or amount of purchases. Using these enables you to rack up your points over time, especially if you shop at the same retailers regularly.
Aside from loyalty programs, you can also use discount apps to find the best deals across a range of stores. These apps are designed to find discounts, coupons, and cashback offers, ensuring that you don’t miss an opportunity to save, even on everyday items.
Again, it’s important to use these tools wisely to ensure that you don’t fall into the trap of overspending. Buying things just because you have a discount card or coupon can lead to unnecessary purchases, so it’s always a good idea to evaluate whether the purchase is truly necessary and fits within your budget. By incorporating these savings tools into your shopping routine wisely, you can make smarter choices and ensure that you’re getting the best value for your money.
Buy Generic Medicines and Store-Brand Products
When it comes to saving money, buying generic medicine and store-brand products—whether they’re food, cleaning supplies, or personal care items—can make a significant difference. Not only are they priced lower than their branded counterparts but their functionality and ingredients are often identical to name-brand products. Thus, making the switch to generic and store-brand options can help you save a substantial amount of money without sacrificing quality. This is especially helpful when you need to stock up on essential items but want to avoid overspending.
Compare Prices Before Buying Big-Ticket Items
Big-ticket purchases such as electronics and appliances can significantly impact your finances, and as such, it’s worth investing time in comparing prices before making a decision. Retailers and sellers often have different prices for the same product, and sometimes, those prices vary based on location, time of year, or even the time of day. For instance, during major sales events like 4.4 summer sale, Labor Day sale, back-to-school sale, and others, online marketplaces often offer deep discounts on electronics, so buying a replacement for your old phone during these promo periods can help you save a substantial amount compared to when purchasing it at a regular price. However, to ensure that you’re getting the best deal, make it a habit to compare prices across multiple platforms and check for any hidden fees, like shipping costs or warranties, which can affect the overall price.
When visiting physical stores, consider checking out less popular shopping hubs, like local electronics or commercial centers instead of chain stores and malls. These places often offer competitive prices, and you may find that they have ongoing sales or promotions that larger, more popular stores or malls don’t advertise.
Buy in Bulk
Maximizing your budget comes down to being intentional with every purchase, and one of the smartest ways to do this is by buying in bulk. While buying in larger quantities might seem expensive upfront, the cost per unit is often much lower, since it costs producers, suppliers, and retailers less to manufacture, package, and distribute larger quantities of product. This efficiency allows them to pass the savings onto consumers, making bulk purchases a more economical choice in the long run. Moreover, large membership retail establishments, like Landers Superstore, offer discounts on bulk purchases of everyday items such as toiletries, food, and cleaning supplies. Combining this benefit with the perks of owning a Landers Cashback Everywhere Credit Card can further increase your savings, making it easier to stretch your budget without compromising on essential items.
Every peso you save brings you one step closer to financial freedom, but you don’t have to sacrifice your quality of life to get there. Making these small changes in your shopping routine can lead to big savings over time, allowing you to enjoy the things that matter most while staying on track with your financial goals. When you approach your finances with intention, those small efforts will make a big difference in your overall financial well-being.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
