<h1> Max Out SAVINGS, Cut down the COST: Financial Tipid Tips </h1>

Financial literacy among Filipino youth is an emerging trend as financial awareness grew over social networking sites, finance websites, blogs, forums, and even on-site seminars sponsored by financial advocates and institutions.

Today, Filipino youth seek financial information on personal finance, debt management, saving, and investing in their quest for financial freedom. From advance topics of investing on stock market, mutual funds, UITFs down to simple personal saving tips or commonly regarded as “tipid” tips, young Filipinos have increasingly engaged to financial literacy. But before the complexities come in, I like to share some simple tips on saving more and spending less while you cherish your youthful days.

Years ago, I could spend as much my whole weekday living allowance on a Saturday or Sunday. Not that I lack financial literacy (or maybe I do) but I grew up with the orientation that weekends should be savoured to the fullest. My childhood image of weekends is a combination of shopping, dining out, leisure, entertainment, and even spending a feast-like Sunday lunch (our Sunday’s best). When I moved out from my parents’ custody and earn my own money, I realized that I must reboot and redesign my lifestyle and find a way to enjoy life while spending less.

Fast-forward…

Eventually, I have cracked some enigmatic spending hacks (that’s an exaggeration) and applied those to save my dysfunctional personal finance. Some of the points listed maybe known to many while others chose to remain unmindful of many elementary means to improve financial health.

The McCafe Trick

For coffee freaks like me, a cup of coffee will never tame daily caffeine requirements. I need at least three cups or 24oz. If you are not brand conscious and need a higher dosage, you can ditch that designer’s coffee and get a McCafe with a refill. Before, I usually spend Php195 ($4.40) for Starbuck’s Dark Mocha or Php135 ($3) for a venti (24oz) Caffé Americano.  With McCafe, I only pay Php40 (less than $1) for 12oz coffee with a refill of the same size! 

Surprisingly, I have saved a material amount with equal magnitude of kick!

  

For one year or 52 weeks on weekly coffee visit, I can save as much as Php4,940-Php8,060 ($112-$671)

Untold Swipe Stories (Credit Card Trick)

Financial advocates would always warn people to stay out of credit cards which left the cards a distasteful image. On the brighter side, you can use the cards at your advantage. Through the point system, you can redeem various items, shopping discounts, free meals, and even request to wave the annual fees. Recently, I used one of my cards to redeem flight miles for my Cebu Pacific tickets and I have saved almost half of the total cost of my plane fare. 

Not convince yet? Well, this coming Sunday, I will treat my friends with Krispy Kreme for Php1.98 half-dozen original glaze (That’s saving around Php196.02 for premium doughnuts).

Check your current points and your credit card website reward catalogue to utilize the perks and enjoy discounted or free stuff.

Tale of the Tissues, Ketchup, Creamer, Sugar at iba pa (etc.)…

My friends laughed at me when I took with me some unused tissue paper, sachets of creamers, sugar and ketchup after dining at one of the local fast-food chains. I told them “Let us be grateful for the generosity of the service crew for giving us more than we can use”. After a few hours, my friend panicked when her stomach went in rampage. I gave her the tissue with a smile.

Buying tissue packs in handy size at Watsons usually cost me around Php15-20 pesos. At my ‘suki’s’ sari-sari store, creamer and sugar amounted around Php3-5, while ketchup sachets at convenient stores are priced at Php15-20 (sulit pack). Conservatively, I saved roughly Php30-35 in accepting the pretty lady’s extra service; I mean extra items at the counter.

Quickie & Hot at 7-Eleven, MINI STOP

If you are living alone, cooking your food is more expensive than eating outside. It would be impractical to buy 2-3 slices of pork at the market, pay for fare, ingredients and spend on the cost of LPG gas; not to mention the efforts in cooking (unless you really love it). To save time, money, and efforts, lately, I resorted to ready-to-eat, on-the-go menus . Convenient stores like 7-Eleven and Mini Stop have a wide range of food selection from pork dishes like liempo, menudo giniling, beef cuisine like tapa, and vegetables all topped on rice. You can pick your choice of viand with rice and they will serve it hot and fast for only Php29, Php39, Php49 or Php59 (more or less $1).

Aside from the affordable food selection, I usually combine this saving tip with the next one.

Reward Cards Revisited

Originally, reward cards are crafted as a marketing tool to encourage patronage. Today, reward cards are utilized for long-term benefits on the shopper’s perspective. Maintaining a reward card on those establishments you frequently dine or shop will provide perks over a long-term period. For instance, I regularly buy my meals and some grocery items at 7-Eleven (Disclaimer: I am not paid for this). 

With every purchase, I present my reward card to earn points. Eventually, I accumulated 200 points in two months and based on the present catalog, I could enjoy Tobelerone, Herseys, Reeses, Snickers and etcs. FOR FREE!  If today is Valentine’s Day, I will probably strike out chocolate expense.

The Math of ATM (Automatic Tubig Machine), Refilling Stations

Most of my friends who live in dormitories, boarding houses, and apartments don’t maintain water dispensers; instead they buy bottles of mineral water for Php15-20 for 500ml-1 litre.  A huge savings could have been made had they purchased 5 litres, half to one gallon containers and had it refilled for 5-10pesos per refill at refilling stations or do-it-yourself refilling booth (known in our country as ATM). Usually 5 litres to half gallon would last for three days. So if we do that math"

Glamour of Membership Cards

Some can’t just get rid of designer’s coffee like Starbuck’s, Coffee Bean, Seattle’s Best and etc. If you can’t avoid them, at least get a membership card.  Starbuck’s membership card offers a free drink after accumulating 12 stars (12 handcrafted beverage drinks). Imagine, going out with five other friends twice a month; you could have saved more than Php150 on your third visit by redeeming the complimentary drink. Coffee Bean and Tea Leaf gives 5 points (1 point=1Php) for every Php100 purchase; that’s Php5 off for every Php100.

Bonus: For SB cardholders, a complimentary birthday cake is given and claimable for a certain period for every purchase of a handcrafted drink. So, if you want to celebrate on a low-cost budget, just buy a small candle, place it on the slice of cake and presto! SB birthday celebration!

Achieving a better financial health is no longer rocket-science in today’s financial landscape. Information are readily accessible through various channels, media and forms. For a start, simple and executable saving tips (like noted above) can be taken in building better money habits.

With the intensification of financial literacy campaigns not only for the Filipino youth but for the general population, I think the issue is no longer on gaining awareness but the willingness to take in the knowledge in liberating oneself towards financial freedom.

As Wikipedia render an interpretation of the cultural symbolism of the RED and BLUE pill in the movie The Matrix; on a financial perspective, we are like Neo daunted with a financial choice. We can choose the blue pill and continue to live the “ignorance of illusion”—laziness, blame game, 'bahala na' attitude, dependency, lack of financial goals and actions; or we can take the red pill or the “truth of reality” and take charge of our finances and our course to financial freedom.

Friends,…

I hope you take that f**k’n RED PILL!

Cover by MJ Photography (Junmar Montuerto)