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6 Things Filipinos Need to Stop Spending On

A lot of Filipinos today have trouble keeping their savings account intact. In this article, we’ll talk about the things you need to stop spending on and why it’s going to be better for your finances. Whether you have just entered the workforce or have been working for a few years now, it’s always a good time to start saving and learning financial concepts like how life insurance works. However, how can you do that if you keep spending money on things that you don’t need? If you want to put away more money for your future, here are some things that you should stop spending on starting today:

1. Expensive drinks

A lot of Filipino adults have a terrible habit of spending their money on expensive drinks like coffee, milk tea, and juices. But before you fall in line to buy another large frappe, stop and think to yourself: do you really need this? Sure, treating yourself occasionally is a good thing. However, if “treating yourself” to expensive drinks has become a daily habit, it’s time to find another alternative to your cravings. Why not try locally sourced coffee that you can buy in bulk? Or a box of tea bags that can last you a whole two weeks?

2. Gadget upgrades

No matter how much money you make, it isn’t reasonable to buy a new gadget if your current one is still working fine. Buying the latest gadgets may be your source of happiness, but if you have to borrow money just to buy it, then you can’t really afford it.

3. Treating your friends

We Filipinos have a bad habit of treating our friends and family, even if we can’t really afford to do so. If you don’t have extra money, don’t treat your friends just because they want you to or because it’s your birthday. In turn, don’t expect others to pay for you unless they volunteer.

4. Vices

If you frequently spend money on alcohol, cigarettes, and other vices, you’re not only taxing your health, but you’re spending money that could have been spent on more important things instead. Cut down on your nights-out and try to quit smoking or vaping–both your body and your wallet will thank you.

5. The lottery

The promise of hundreds of millions of pesos is enticing to everybody, but there is an infinitesimally small chance of winning. Instead of buying lottery tickets that can cost around 20 pesos each, why not just put it in your piggy bank? This way, you have real money on your hands instead of a 5,245,786 in 1 chance of winning the sweepstakes.

6. Weight loss hacks

herbal drink There are tons of products on the market today that promise consumers fast and easy weight loss. Not only are these weight loss products potentially dangerous, but they are most likely ineffective. If you want to lose weight, do it the old fashioned way with a balanced diet and regular exercise. These are just some of the things that we Filipinos don’t need to spend money on. Instead of buying things we don’t need, we should save and invest our money in the things that truly matter for our future.
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