Saving money sounds like a grueling task, but if you do some basic research on the internet, you’ll be surprised at how easy it is to save money on your everyday expenses. I’ll be sharing with you guys some tips on how to do this.
Just bear in mind though that some of the things that I’ll be sharing might only be applicable to the Philippines since I’m from here but I’m pretty sure that there will be counterparts or similar services in your country.
Let’s start, shall we?
Save Money on Bank Fees
It still feels like it was just yesterday when the only option to have money in our pockets is either to keep cash at home or withdraw money from ATMs and pay for the withdrawal fee. Well, that era is almost over and there are tons of options now to withdraw money at no cost or for a smaller fee, and here are some ways to do it.
Get a Digital Bank Account
A digital bank is like your traditional bank except that it doesn’t have any brick and mortar space. Thus, the money they saved from not renting an office space becomes part of their savings and revenue which enables them to offer higher interest to their depositors and at the same time, offer free withdrawal and transfer fees to their customers.
Just a little caveat though, policies do change from time to time but as of the time of writing, you can avail yourself of free transfers using Diskartech and Komo and limited free withdrawals for both of them too.
CIMB also has free withdrawals but I heard some rumors that they might start charging soon if you use ATMs from other banks. The thing is, I don’t know if they have ATMs already in the Philippines though. I’ll update this once I get a piece of more detailed information about it.
But just to be sure, always check their websites to get the updated information.
Get an E-Wallet Account
E-wallet accounts are like literally your wallet on your phone where you can deposit some money and use it to pay for your day-to-day expenses. Instead of carrying cash which is prone to becoming lost or dropped (ugh, my personal issue LOL!), the money sits safely on your account.
Sometimes, e-wallets give discounts when you use them to pay for your bills or purchases, so be sure to check them out. Opening an account with e-wallets is free anyway so there’s no harm in signing up.
Keep in mind though that you have to secure your login details and do not give them to anyone. Be aware also of the existing scams in your country to avoid losing your money. Some of the well-known scams include sim-swap, phishing emails, and more.
Also, it’ll be helpful if you activate various layers of security in your e-wallet to help keep your account safe.
Schedule Your Bank Transactions
If you don’t have a digital bank savings account nor an e-wallet and if you use the traditional bank, then it would be best if you schedule your bank transactions to minimize related expenses such as transportation costs, withdrawal fees, transfer fees, etc.
Save Money on Shopping
There are so many ways to save money on shopping and this blog might not be enough to discuss all of them LOL! I will share with you guys how I save money on shopping.
Shop Using a Credit Card (With Caveat)
I always shop using my credit cards. Only because I only charge what I can pay in full on or before the due date. I don’t charge anything if I’m unsure if I have the money to pay for it. Thus, in my years of using my credit cards, I have earned so many miles and points without paying any interest nor late fees on my credit cards.
The only exception was with my first credit card when I was still unaware of how to take advantage of this powerful financial tool.
There are various ways to save money on shopping by using a credit card and some of those includes (but not limited to):
- Avail of some rebates using co-branded shopping credit cards
- Get cashback using cashback credit cards
- Save money on fuel by using auto/gas-branded credit cards
Shop Online/Offline During Sale Period
One of the reasons why I always shop on websites such as Shopee is their discount vouchers. They do have free shipping and discount vouchers and on a monthly basis, they also do a huge sale!
Although shopping malls also have frequent sales. I prefer shopping online since I don’t have to spend time and money to get to the mall. And, it’s also more convenient for me to shop online.
Buy Second-hand Items Online/Offline
With the exception of a few things, I buy almost everything second-hand. I usually buy on eBay or Carousell, and sometimes, even on Shopee for second-hand items.
I also buy a lot of my personal stuff from thrift stores and Japan Surplus Stores even before I made online selling my full-time business.
The main reason why I buy from thrift stores is to save money.
And the second most important thing is that I find a lot of unique clothes from thrift stores. I do enjoy dressing up/down and I’m a fan of anti-fashion silhouettes and I can only buy those here at thrift stores or on buy and sell websites in the Philippines such as Carousell and eBay.
Use Rewards Cards
Here’s another shopping hack for you. Use rewards cards. There are various rewards cards available in any country that you can use to earn rewards points and you can use this alongside your credit card.
If you have a GetGo Card by Cebu Pacific, you will earn GetGo miles when you present the card to their partner merchants such as Robinsons Department Store upon checkout. So, if I use my Citibank PremierMiles to pay for the item then I could earn GetGo miles from my GetGo Card and PremierMiles using my Citibank PremierMiles credit card.
This is just one of the many examples where you can get multiple rewards in one purchase. Aside from earning GetGO miles, they also have partner merchants where you could also get discounts. Neat huh!
Save Money on Transportation
Taking public transportation is of course the easiest way to save money on your daily commutes. However, depending on your destination and where you’ll be coming from, there are also other ways to save money when going from one place to another.
Whenever I go to the courier to ship some of my items, I always walk half of the way instead of commuting all the way from where I live. I usually save 50% of my transport costs by doing this. And also, since I always go early in the morning, this doubles as part of my daily exercise routine.
Walking may not always be that convenient especially during the typhoon season or during summer when it gets scorchingly hot. But weather permitting, I try to walk as much as I could.
Use Alternative Low-cost Transport
There’s an increasing number of people using alternative transportation means to get to the office. This is possibly due to the worsening traffic situation in the city, people are looking for ways on how to get from Point A to Point B without getting stuck in traffic.
Some of these alternative transportation modes that I have seen include (but not limited to):
- Manual/Electric/Gas Scooters
- Angkas (Ride-sharing Motorbikes)
- Skateboards (Yup! I’ve seen some young professionals using skateboards to go to their offices.)
Even by just simply planning ahead your weekly tasks, you can save some money by scheduling most of your errands in one day so you will only have to pay for once (RT of course).
Save Money on Utility Bills
Use Energy-saving Appliances and Home Accessories
As years go by, an increasing number of energy-efficient appliances, home accessories, devices, etc are being introduced in the market. Take advantage of these items as they can really help in reducing your electricity cost. Some of those energy-saving things include (but not limited to):
- Power strips can help you save energy by making sure that your devices will not consume energy even if they’re in sleep mode.
- LED Bulbs
- Solar-powered Outdoor Lights
- Power Inverters
Pay Your Bills Online with Discount Vouchers
Shopee, CoinsPH, etc, have discount vouchers if you pay your bills through them. You need to have an account with them to be able to do so and the discount varies depending on the promotion period.
For Shopee, you need to use Shopee Pay in order to avail yourself of the discounts. The discount for new users is significant so be sure to check it out.
Buy Your Prepaid Load (Top-Up) Online
Again, just like in paying utility bills, you can also avail of discounts when you buy your prepaid load from online shopping websites such as Shopee. Be sure to check their promotion because it changes every now and then.
Charge Your Phone and Power Bank at the Office 😉
I feel very stingy by sharing this, but when I was still employed, I always go home with a fully-charged phone and power bank. I always make sure that I charge them an hour or two before I go home so I wouldn’t have to do it at home.
Sure, the power they consume may not really that much in a day. But think about a week, a month, and a year! That’s still something right! I always believe that money saved is money earned, and besides, it’s not forbidden to charge gadgets at the office anyways. 🙂
Save Money on Food and Drinks
Buy in Bulk
If you have a large family then you might be able to save money by buying in bulk and storing food items at home. Just make sure that you buy items with a longer shelf life/expiry to avoid wasting food.
Learn How to Preserve Food
If you have a mini-garden or a mini-farm and if you’re only producing food for your family, then learn how to preserve food. There are many tutorials on Youtube on how to dry meat and vegetables, how to make jams and marmalades, etc.
Build a Small Food Garden
Even if you’re living in a small apartment, you can build a small food garden on pots. Personally, I have tomatoes, basil, a small local citrus fruit at home. It saves me some money because I don’t have to buy any of those anymore (if there are available fruits).
This is actually one of my main goals in the coming years. To build a food garden/forest that can support me and my family for the years to come. Experiencing the hardships of living in a pandemic made me realized how important it is for every family to be self-sustainable.
I’m not a good cook, and the only thing that I do with left-overs is to reheat them. However, if I’m in the mood to experiment, I use left-overs to make omelets, etc.
Take Advantage of Your Birthday/Birthday Month
If you’re thinking of eating out, don’t forget to take advantage of the birthday/birthday month promotions of various restaurants. In some buffet restaurants here, usually, the birthday celebrant doesn’t have to pay for himself/herself as long as they meet the minimum number of companions.
Use Your Credit Card to Eat at Fancy Restaurants and Hotels
I like eating at buffets!!! I’m getting hungry as I’m typing this right now. There’re so many buffets in the Philippines and usually, they’re really pricey.
However, know that they do have partnerships with various credit cards and you can get as much as a 50% discount (sometimes even more) when you use your credit card to pay for the bill.
One time, I even took my entire team (when I was still employed) so I can share the discount with them.
Brew Your Own Coffee
Yeah, yeah! I know that a lot of people are dismissing the idea that you can save money by doing this. And that it’s a waste of time even thinking about this.
But, if you’re in a country (like where I am) where the minimum wage in the capital city is only less than $10/day and even way less outside the city, then a $3 Frappe is really expensive.
The thing is, it’s not just a cup of coffee anymore. It’s a lifestyle thing here where people (who can afford it) enjoy their time hanging out with their friends and family.
I get it!
A lot of people also want to experience this lifestyle. However, for our salary level, it’s really a bit on the expensive side.
Sure, go ahead and treat yourself, just be aware of how much it cost versus your salary.
Bring Packed Lunch at Work
Eating out even at fast-food chains and office concessionaires are becoming more and more expensive as years go by. It could save you a lot of money if you bring a packed lunch to work plus you have full control of the quantity of your food.
These are just some of the ways on how to save money on our daily expenses. I’m sure that there’s a lot of ways more to do this. If you have additional tips, recommendations and suggestions, feel free to comment down below. Thanks!How to Easily Save Money on Everyday Expenses Click To Tweet