8List.ph is published by ID8, Inc.

Bye, Luho: Tipid Tips to Survive Inflation and Maximize Your Money

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

Consider deleting your e-commerce apps, food delivery services, and ride-hailing apps. The temptation to shop online to “de-stress” and because you “deserve it” is a mentality that will cost you a lot. Unfortunately, the same goes for entertainment subscriptions. You’ll find lots of free shows and movies online if you know where to look. And if the hankering for your regular Starbucks morning brew or a 7.7 shopping sale grows, ask yourself whether you absolutely need it. In this economy? In the middle of rising inflation? Think thrice.

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

Make your own coffee. Cook your own lunch. Do your own laundry. These are just some of the things we usually pay for but, with a bit of effort, can do for ourselves. Spend time learning how to make your favorite cafe brew (there are hundreds of how-tos online!) and stretch a few muscles doing the laundry every now and then. Pack your own lunch for the office or school days and you’ll soon realize how much money you’re saving.

 

Buy from wet markets

Consider buying your food from wet markets or palengkes instead of groceries. Vegetables, fruits, and meat are cheaper in wet markets and they’re fresher too. Of course, there are certain products (bath care, laundry products, etc.) that can’t be found in wet markets so visiting the grocery store can’t be missed. But before you set out, make a list of exactly what you need and stick to it. This makes sure you don’t add unnecessary items to your cart because “baka kailanganin natin.”

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

This is a good time to declutter your home and find out which items you can let go. Maybe you can sell your books since you’re reading from PDFs anyway. How about those clothes and shoes you haven’t worn for the past six months? And since you’re on the lookout for ways to earn, play your strengths and look for a side hustle. If you’re an artist, take commissions or offer your services to potential clients. Learn the ropes of being a virtual assistant and try your luck.

 

Take advantage of cashback and rebates

Be smart about your transactions. Take advantage of apps that offer cashback and promos such as Shopee and PayMaya. We know, we know, earlier we said to delete e-commerce apps since they’re huge temptations for online shopping. But if you’ve got self-restraint, you can just ignore that side of the app and focus on paying your bills. These apps offer cashback that, while not too big, is still better than nothing.

 

Look for alternative methods of transport

More and more Filipinos are now discovering the joy of biking or taking their e-scooters to work. It not only minimizes our contribution to pollution, but it also helps you save money in the long run. And if you’re on a bike, that’s a good form of exercise too.

 

Plan your expenses ahead

Make a list of your basic monthly expenses (rent, food, utilities, internet, etc.) to see how much you need to spend.  Seeing that huge amount will motivate you to cut off unnecessary luxuries in your spending. Of course, this doesn’t mean you starve yourself of the finer things in life. You can also set aside money for having fun but be conscious of the amount. Every time you’re tempted to shell a huge amount for a random barkada dinner or book Grab when you could’ve taken public transportation, look at the list to bring you back to reality.

 

Just stay at home

This final tipid tip during high inflation is one of those old-but-gold ones: Stay at home. It’s the best tip for an era of rising goods and commodities. Think about it: The minute you step outside, that means spending upwards of P200 on transportation and food alone. If you’re truly in tipid mode, you’ll have to learn to say no to your friends and plant your feet at home where it’s free.

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?

 

Check us out on Facebook, Instagram, Twitter, TikTok, and YouTube, to be the first to know about the latest news and coolest trends!


Total
22
Shares
22
0
0
Related Topics

Kyzia spends most of her time capturing the world around her through photos, paragraphs, and playlists. She is constantly on the hunt for the perfect chocolate chip cookie, and a great paperback thriller to pair with it.

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Your daily dose of entertaining, useful and informative lists.