10 SAVING STRATEGIES

"The safest way to double your money is to fold it over and put it in your pocket." - Kin Hubbard Holiday season is the most fest... thumbnail 1 summary
"The safest way to double your money is to fold it over and put it in your pocket." - Kin Hubbard
Holiday season is the most festive and happiest season all year round. But admit it, this is a great challenge for most homemakers to save for the holiday festivities...I usually make resolutions around new year to save and scour around for penny pinching strategies. Here are some ideas I've read about and some strategies that worked for me and my friends. Make a target amount you want to save so you have a goal you want to focus on..
  1. Make a fewer trips to the mall. - I live near a mall and its really a torture not to be tempted to go malling everyday. We'll its a great stress reliever, it's air-conditioned, and I get to do one of my favorite things - people watching. I realized though that every visit takes a big chunk out of my budget. Just for the food and fare, I spend an average of P500, so if I go malling twice a week, that's around P1000/week and around P4000 a month...now I have twice a month schedule for grocery shopping and at least once a month for leisurely window shopping, total of just around 3 visits saving me around P2500/month.
  2. Use generic drugs. - Need I say more. I actually got this tip from my mom. When you have kids, expect to spend on medicines.
  3. Save loose change. - Grab a container or a coin bank and save your loose change. You'll be surprised at how much you can save with this strategy. I can actually save around P1000 every month with just loose pocket change.
  4. Don't bring your kids when you do grocery shopping. - I read this somewhere on the net and I've been applying this strategy for the past 2 months. I've spent a lot less coz there are not kids asking me to buy chips, candies etc. So i get to choose the right/healthy food for them as well as making grocery shopping hassle free. I save around P400 on chips/candies and other junk foods each time I don't bring my child on my grocery trip.
  5. Keep track of electricity use. - Remember to switch off unused lights. Use wash and wear clothes instead of those requiring a lot of ironing. Limit the time you use TV . Try playing board games or reading books with your family instead of watching tv or playing computer games. Great for family bonding and great on you pockets too. From a bill of P2000+, my electric bill is now down to P1600.
  6. Toilet-train your kids early. - From a diaper bill of around P2000/month, now its down to just P500 or less;
  7. Shop in Divisoria / Ukay-Ukay /Warehouse Clubs - A strategy I learned from a dear cousin. For house clothes, I shop in Divisoria or in ukay-ukay; School supplies- divisoria; diswashing liquid - i buy lots of them in Divisoria (its only P25 each bottle compared to the ones in groceries costing P40+ and of good quality too!); diapers, detergents - i get from price clubs. I get to save a lot from this;
  8. Use substitutes. - I got this tip from my brother. I buy packets of Chlorine (around P30 each) mix it with 5 gallons of water, and voila!, I have now my cleanser and disinfectant for my washbasins and bathroom to last about a month or two. Instead of buying super expensive disinfectants (around P100+)
  9. Bring BAON . - This works for a lot of my friends who go to work and for their kids too. Instead of spending a minimum of P100 on lunch out, most of my penny-pinching friends bring their own food. They get to eat clean and healthier food at less cost. Same goes for kids in school, aside from the saving aspect, its more important that you're sure that what your child eats is clean and healthy;
  10. Take MRT/Busses.- I usually take cabs until I've discovered MRT! So what if I'm standing during rush hours after all it'll just take a few minutes. You don't have to worry being in the middle of a traffic jam and the fare is just a fraction of a cab ride fare!
I'll continue to look out and get fresh ideas to help us stretch that peso so till my next post! :)





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