This is one of the greatest challenges that every working millennial has to go through, and it’s commonly known as petsa de peligro. The temptation to overspend on unnecessary things is strong during paydays — from wanting to buy that expensive pair of leather boots to upgrading to the latest smartphone.
Once you give in to these urges, the next thing you know is that you’ll have to stretch your budget just so it will last until the next payday. Instead of being able to save more money, you’ll end up having little to no savings at all in the bank. Some even resort to borrowing money just so they’ll have money to go to work, worse is that you can’t even go to work because you no longer have money.
The good news is that you can avoid experiencing petsa de peligro just by following these 5 useful tips on how to make your hard-earned salary last until the next payday.
1. Track Your Expenses
Nothing is more important than being fully aware of all your expenses. You should be mindful of the things you spend your salary on.
Some people find it hard to remember all their expenses that’s why there are now apps that you can download and install on your smartphone to help you keep track of all your expenses.
Head on to your phone’s Play store or App store to search for expense management apps.
2. Create And Strictly Follow Your Budget Plan
Review all your monthly expenses and create a monthly budget. Write down all your expenses on a piece of paper (or on your phone’s notepad) and decide which of them are your ‘needs‘ and which of are just your ‘wants‘.
Ideally, list down all the bills you have to pay so that you’ll be able to visualize your expenses and be able to create an accurate budget plan.
Once you have created a budget plan, it’s very important for you to stick to it and not let yourself give in to the temptations.
3. Bring Your Own Baon
Aside from transportation expenses, food is among the major things that you spend your money on. If you want to save more, the best option is to bring your own lunch to work. Instead of going out to eat, you’ll be able to save a huge portion of your salary.
Some people typically spend around Php100 – Php200 (and even more for some!) for their lunch daily. Imagine how much money you’ll be able to save if you prepare and bring your own lunch to work.
If you bring your own baon, not only you will save but also you’ll be able to make sure that what you’re eating is clean and healthy.
Do a weekly grocery and cook your baon yourself. Alternatively, you can also bring last night’s left-over if you’re too lazy to prepare your own lunch.
4. Pay With Cash
When doing your groceries, pay with cash as much as possible. Yes, using your credit card is very convenient and all but this increases the chances of you going beyond your grocery budget.
Alternatively, you can also use your ATM Debit Card so that you would only spend money that you already have and not owe the bank if you use your credit card.
It’s all about self-control.
5. Take Public Transport
Lastly, from time to time, try taking the public transport. By that, I meant taking the jeepney or FX instead of hailing a cab or booking an Uber or Grab ride.
Taking the MRT is also an option if you want to save a lot. I heard that there are now more trains running at a time so your ride wouldn’t be that bad anymore.
Those are the useful tips that can help you make your salary last until the next payday. At the end of the day, if you’re really serious about saving, you wouldn’t have to worry about petsa de peligro.
If you have more useful tips, please feel free to share them on the comments section below. Share this article to your family and friends and help them make it through the next payday!