When you receive money from a loved one for the first time, it’s normal to be overcome with a mix of emotions. Gratitude, relief, and sometimes, a positive pressure to spend wisely are all common sentiments when the first overseas remittances come in. Unfortunately, when remittances become routine, it becomes easy to take them for granted.
When funds are hard-earned across thousands of kilometers, managing them wisely is a matter of respect. One of the best ways to make remittances last longer is to rethink how you shop. If you’ve ever felt like your family’s remittances seemingly evaporate in days, you may need to change your shopping habits. Here’s a guide to help OFW families shop smarter, save more, and make the most out of every peso.
1. Apply for the Maya Landers Cashback Everywhere Credit Card
Using a better credit card for credit card for online shopping and daily groceries can be an essential first step in conserving the wealth your loved one is working so hard to build. Online shopping now comprises an ever-larger proportion of all shopping being done in the Philippines, so it makes sense to use a credit card that covers both these and regular shopping expenses.
If you’re looking for a better credit card for everyday shopping, the Landers Cashback Everywhere Credit Card by Maya Bank is a standout option. It gives up to 5% cashback at Landers, 2% on dining, and 1% on all other qualified transactions,* including online purchases. The best part is, these cashback privileges are already on top of the low bulk prices and exclusive deals you’ll always find at Landers.
Since qualified purchases outside of Landers also give cashback, the Landers Cashback Everywhere Credit Card might just be the best credit card for online shopping in the Philippines, especially for money-smart OFW families. Points earned from all qualified purchases can be used for discounts during future grocery runs at any Landers location.
2. Consolidate Your Purchases to Get Cashback Boosts and Other Benefits
Forget buying in tingi-tingi. While seemingly cheaper upfront, these small quantities are often more expensive than the amount. If you have the storage space, bulk purchases for items you use regularly are often a wiser choice for stretching your remittances further, especially since these often come with significant discounts.
Bulk shopping off the Landers online store makes even more sense if you have a Landers Cashback Everywhere Credit Card. You already enjoy a generous base cashback rate of 3% at Landers for qualified total monthly purchases under PHP 20,000. However, if you increase your total monthly purchases to over PHP 20,000, you can enjoy a boosted rate of 4%. Spend PHP 50,000 or more in one month, and you can enjoy an amazing 5% cashback when shopping at Landers.
With that in mind, it’s time to start planning bulk purchases so that you can hit those boosted rates and get more savings. This brings us to our next tip.
3. Plan Your Monthly Purchases and Remittance Spending on a Spreadsheet
Remittances are often received monthly or biweekly, which may cause households to treat them like “extra money” rather than an income. The fix is to treat remittances as a core part of a consolidated household income, just like salaries.
To start, write out all your expected expenses, including all planned online shopping spends, utility payments, food expenses, tuition costs, and transport allowances, and assign amounts to each. Importantly, you must also include savings and, perhaps, insurance and investments as key items. Then, stick to these and closely track your spending using the Maya App to enjoy real-time monitoring.
For complex areas like groceries, it makes sense to create a spreadsheet that also includes your existing inventories, especially if you have a big household with extended family and helpers. Planning out all the needs and nice-to-haves in one place can help you plan those big bulk purchases and hit those boosted cashback rates.
4. Avoid Unplanned Online Shopping Sprees
Online shopping apps make it dangerously easy to buy things on impulse, particularly if you have “extra cash” that isn’t part of your regular budget. A “cooling-off” system may be warranted for any purchase that isn’t in the budget. If there’s something you or family members want that isn’t in your current budget, wait at least two days before buying it. If it’s still wanted or needed by then, you’ll know it wasn’t just a fleeting desire and may be worth considering. If it’s a qualified purchase, just use your Visa-supported Landers Cashback Everywhere Credit Card to complete the purchase to score some cashback.
5. Use Your Cashback to Offset Future Household Needs
Just like remittances, you shouldn’t treat cashback as bonus money. Once you earn enough points for your Landers Everywhere Cashback Credit Card, you’ll want to include them in your budget to reduce the cost of future Landers purchases. This allows you to score even more savings, helping you spend less on household needs or even secure small luxuries for the family.
A Responsible Way to Manage Remittances Starts with Maya
Managing remittances responsibly becomes a lot easier when you use the right tools. If you want to make every peso your loved one earns count, the Landers Cashback Everywhere Credit Card by Maya is a clear choice. With generous cashback on a wide range of online and offline purchases as well as seamless integration with the Maya App, it’s one of the most practical ways to shop smart and save more. Get this exclusive card by applying online or visiting your nearest Landers location.
*Transactions that don’t qualify include: cash in, cash advance, quasi cash purchases, casinos and gambling, fuel, supermarket, pharmaceuticals, utilities, telco, and government.
