Taking control of your finances doesn’t always mean making big, dramatic changes. Often, it’s the small and consistent habits that make the biggest difference, like how you pay your bills or what you choose to pay first upon getting your salary. Applying small tweaks to these practices can go a long way toward improving how you manage your money.
If overhauling your lifestyle is too big a change for you at the moment, start with small steps that will help you gain momentum for making more significant changes. Whether you’re trying to save more, spend smarter, or avoid running short before the next payday, you can adopt these quick yet effective habits to stay in control of your monthly finances.
1. Pay Yourself First
One of the simplest financial habits you can adopt is to set aside savings before anything else. As soon as your salary comes in, transfer a fixed amount to a separate savings account. Doing this ensures you’re prioritizing your future, not just your present.
The right financial tool can make it easy for you to save, and the Maya app fits the bill by offering an ecosystem of services that are designed to help you stay on top of your finances. Let’s say you use your Maya Wallet to receive payments from your clients and complete your online bills payment, as you can automatically track your cash flow this way. Before you pay bills online, however, prioritize yourself by sending a portion of the funds in your Maya Wallet funds to your Maya Savings or Personal Goals account. You can transfer funds between these services on the Maya app with just a few taps.
Making a habit of setting aside your savings before spending on anything helps you consistently build your funds. Also, keep in mind that using Maya Wallet features like bills payment and prepaid load top ups can boost your interest rate for Maya Savings to as much as 15% p.a. By saving first and completing your transactions using Maya services second, you’re giving yourself the best chance to grow the money you set aside.
2. Separate Your Spending and Savings
In relation to the first point, it’s easier to manage your finances when your spending money and savings don’t mix. Keep your funds for everyday expenses in your Maya Wallet and use Maya Savings or Maya Personal Goals to save for your short- and long-term objectives. This makes it clearer how much you can actually spend without touching your savings.
With Maya Personal Goals, you can create up to 5 different saving “buckets” for different goals. Each goal account earns up to 8% p.a. on balances of up to PHP 100,000, with tiered interest rates that start at 4% p.a. for the first PHP 20,000 and gradually increase up to 8% p.a. for amounts above PHP 80,000. This all means separating your funds for everyday spending from money for your savings has never been easier.
3. Set a Weekly Budget
Instead of managing your entire monthly finances at once, break it down into weekly portions. Give yourself a spending limit for each week, then track your purchases as you go. Adopting shorter timeframes is a practical way of making budgeting easier and less overwhelming.
4. Pay Bills on Time Using Your Device
Late payment fees can quietly eat into your budget. That’s why paying bills on time is one of the most practical financial habits you can build.
The good news? You can make this effortless by using Maya Wallet’s bills payment feature. This functionality lets you settle dues for over 1,500 billers, including utility companies, government agencies, schools, credit card providers, and even lenders, all in one place. From time to time, Maya also offers bills payment promos like rebates and cashback, which can help you stretch your budget. With Maya Wallet’s bills payment feature, you save money and effort while meeting deadlines, as you don’t have to deal with queues or multiple apps.
5. Review Your Subscriptions Regularly
Streaming platforms, cloud storage, and app subscriptions are easy to forget about, but they can add up quickly. Are you sure you’re not paying for services you’re not using? If not, take a few minutes each month to review your subscriptions. If you haven’t logged into one account in weeks, consider cancelling or pausing it.
6. Cook More, Eat Out Less
It’s easy to underestimate how much you spend on food deliveries or eating out. Even replacing two takeout meals a week with home-cooked ones can make a noticeable difference in your monthly budget. If you still prefer to dine out or have food delivered to your home, try setting a weekly food allowance and stick to it.
Small Habits Can Have a Big Impact on Your Finances
You don’t need a massive overhaul to get your finances in order. Often, it’s the small, consistent steps, like paying bills on time or trimming unnecessary recurring expenses, that make the most lasting difference. When you adopt these simple habits as a part of your routine, you’ll find it easier to stay on top of your money and even reach bigger financial goals. And with digital tools from Maya, the #1 digital bank in the Philippines, managing your finances becomes smarter, to the point where every little step you take adds up to something greater.
