On a scale of one to "I'm so broke," how prepared are you and your wallet for all the Christmas expenses coming your way? Whatever your answer is, we hope you find the tips below helpful.
- Spend only what you have.
Budget a month's worth your money and keep your allotment for transpo, food, and readings/supplies in separate envelopes. Make sure you only spend what's in the envelope and that you don't "borrow" from other envelopes even if you intend to pay the amount back.
- List down your spending.
No matter how big or small the amount of money you use, make sure to take note of it. This will make you more aware of how much of your money goes to what. And when you do, you'll be more conscious of the way you spend.
- Challenge yourself to a "no-spend" day.
Have a no-spend day where you don't shell out money except for your commute to and from the house. This means no spontaneous movie dates and certainly no just-because purchases at the mall. Whatever you were supposed to have spent that day can go right to your savings jar.
- Eat in as much as you can.
Beg off on invites to lunch outs and dinner catch-ups, bring baon to school, or pack yourself some munchies to combat hunger pangs. You'll be surprised how much money you'll save just by doing this.
- DIY everything
Whenever you feel the need to buy something, convince yourself you can do it at home. Badly need a mani-pedi? DIY! Craving for a P160-coffee? Make your own! Even the Christmas gifts you plan to give can have a handmade element.
- Sell some stuff
Whether it's selling some old clothes or offering your services for a fee, making a profit out of stuff you own or do best can help you earn more cash. Just make sure that whatever you earn goes straight to the jar.
- Force yourself to save any amount every day.
It doesn't matter if it's P5 or P50 or P500, whatever amount you don't get to use for the day must be stashed in the savings jar.
Got more last minute saving tips to add to this list? Let us know in the comments section below!