How to Survive "Petsa de Peligro"
Many Filipino workers dread when the payday falls under a Monday or Tuesday since this entails that they will go through the weekend without funds. This is the price that most people pay because they tend to splurge upon receiving their paychecks without thinking of spreading their budget for the next two weeks.
But how do you deal with instances like this? Here are some tips you can apply on your remaining funds so that you can still have money until you get your paycheck by next week.
1) Bring the exact amount of money to work to avoid overspending.
We can spend more if we have access to all our money within an arm’s reach. What you can do is leave your ATM and credit card at home and bring the exact amount of money needed for the workday so you will not be pressured to spend above your intended budget. How can you spend if you do not have the cash or card with you?
Just borrow money from other people if an emergency occurs and not just out of whim.
2) Catch up on unfinished tasks like cleaning your room or organizing files at your computer instead of going out.
This can be applied after work hours or during the weekend. Doing your pending errands at home can help you avoid spending money on activities outside. Some other examples of this could be doing the laundry, organizing files in your computer, finding items at home for donation, or even just simply reading a book.
There will be a sense of accomplishment after the task is done and you save money at the same time.
3) Steer clear of malls and other places that might trigger unnecessary spending.
Seeing items that might make you spend has an almost similar effect as point number one. If you’re going home and decide to pass through inside the mall instead of walking at the sidewalk, chances are you will see items for sale or unnecessary trinkets that will catch your attention. And if you made the purchase, you have officially fallen into the trap of impulse buying.
The effective way of avoiding this to happen while you’re sticking to a tight budget is to avoid items or places that you know you will items you want to buy but do not necessarily need. Focus yourself on other things to avoid this from happening.
4) Say “pass” on meet-ups with friends and schedule it during more significant occasions.
Many of our friends invite us for catch-ups and most of the time, this is done over food or coffee. This can incur a higher cost than what you intend to spend so graciously say no to them especially for spontaneous night-outs. Ask them to plot your get-together in advance so you’ll have time to budget for it. Also, make the meet-up more significant by getting together during special occasions only. With less frequency, there will be more meaning to your get-together. Friends invite us for catch-ups and, most of the time, this is done over food or coffee. This can incur a higher cost than what you intend to spend so graciously say no to them. This is applicable especially for spontaneous night-outs.
Ask them to plot your get-together in advance so you’ll have time to budget for it. Also, make the meet-up more significant by getting together during special occasions only. With less frequency, there will be more meaning to your meet-ups.
How about you? Do you have any money management tips until the next pay day? Let us know at the Comment Section below!
About the Author
Kristel Silang is the Content Manager of MoneyMax.ph, a financial comparison website aiming to help Filipinos save money through diligent comparisons of financial products.