As if the prices of basic goods aren’t already high enough, economists warned us that we’re about to enter a “second round” of the effects of inflation. ICYDK, inflation is basically the cost of goods going up. Fuel, gas, fare, sugar, meat, canned goods — you name it, everything has been on an increase lately and we feel it. Unfortunately, it looks like things aren’t getting any better soon. Buckle up, folks. To help you truly “brace yourself,” here are a few tipid tips we can all practice to make sure we maximize our money.
Prioritize your needs before your wants
Other things you might consider cutting off, for now, are your phone plan (prepaid is much more affordable in some cases), cable TV, brand new clothes (second-hand is cheaper!), and using your credit card too much.
Learn to do things for yourself
Buy from wet markets
Another good tip is to plan your palengke and grocery run so you can buy items worth 2 weeks in one visit.
Consider selling some of your stuff or looking for a side hustle
Take advantage of cashback and rebates
Look for alternative methods of transport
Plan your expenses ahead
Just stay at home
While everything in your budget must be a necessity, that doesn’t mean you have to live like a monk. You can still enjoy things that need money if you budget for it. Just find creative ways to do things you normally do until hopefully, things go back to normal.
What are other tipid tips you can share to save fellow Pinoys from the effects of inflation?