More often than not, Filipinos
would take the money-saving route when it comes to purchasing supplies. This is
common among households and is a widely accepted strategy in order to save up
for the unforeseeable future. However, cutting cost doesn’t always necessarily
mean that you’ll be safe from huge expenditures in the long run. No matter how
hard you try, there will always be situations in which you will have to shell
out more than what your planned budget indicates. These are known as emergency
expenditures, and if you’re not well-prepared, they would cost more than you
can handle. In such case, you should know the proper dos and don’ts when it
comes to saving, know how to separate fact from fiction. Here are just a few
important pointers:
- The amount
you’ll spend on monthly groceries.
- Fiction:
Always buy the cheaper alternatives.
- Fact:
Items with a slightly higher cost would last longer and have a higher
quality than the cheaper ones.
Consider this when buying
toiletries and other items which you may use and apply on your body. Cheaper
soap and shampoo may do more harm than good, causing a strange allergic
reaction on your skin and scalp. The medical fees resulting from this may cost
more than what you’ve saved. The same goes for cheap canned goods and
ingredients. This doesn’t mean you’ll always need to choose the high-valued
brands, but rather the mid-priced alternatives to them.
- The amount
you’ll save in unplugging your appliances.
- Fiction:
Your appliances do not consume electricity when turned off.
- Fact:
They somehow consume less electricity when turned off, but are still
making your utility meters run.
Even if you were to turn off your
television, the fact that it still lights up its on/off indicator would mean
that it still consumes electricity. The same goes for your radio, desktop
computer, and even those over-charged cellphones and tablets you’ve
unintentionally left overnight. Make it a habit to unplug appliances and
devices when not in use. Believe us, you’ll be able to save more on utility
bills this way.
- The amount
you’ll save on meal choices.
- Fiction:
Due to the current prices of vegetables, meat should be the immediate
option when it comes to daily meals.
- Fact:
Knowing the right place to purchase vegetables would allow you to buy them
in a lower price, hence, enabling you to save.
Vegetables should always be a
regular part of your meals. Of course, their current prices should not be
ignored, but buying them from your local wet market instead of the
air-conditioned groceries would at least help you avail a bundle with a lower
price. Feel free to bargain with the seller, if you must. It is the wet market,
after all.
- The amount
you’ll save on membership cards.
- Fiction:
You’ll always be able to save more using your grocery membership cards.
- Fact:
Most of these membership cards only guaranty points, which you’ll be able
to exchange for freebies, and not price cuts on your purchases.
Many have been deceived by these
membership cards. It is not to say that all of them do not provide discounts
every once in a while, as some variations of membership cards actually slash a
few amounts off your purchase totals, but that’s exactly the point, only some
of them do, not all of them. Of course, feel free to ask your local grocery
stores and establishments about this detail, so as not to waste time and money
in registering for these “exclusive memberships” which only reward a few sets
of cutleries come Christmas time.
- The safety
of your money, with regards to where they’re kept.
- Fiction:
It’s better to keep all of your savings within the confines of a sturdy,
metallic safe at home.
- Fact:
The bank will always be a better choice when it comes to keeping your
savings safe and sound.
Having your hard-earned cash near
you isn’t always the best option. This doesn’t mean that you should just trust
anyone to handle your life-savings for you, but rather, deposit them in a
well-trusted bank. Keeping your whole savings at home, locked in a safe
actually comes with many consequences, the sudden offset of fire, natural
disasters, burglary, you name it. You wouldn’t even be at home the whole time,
so there are instances in which you’ll be leaving your money unmonitored and
vulnerable against crafty thieves. Never make this crucial mistake. Deposit
your savings in a bank.
With all of that being said, you’re probably looking to open a bank account with a name and service that you can trust. Look no further than Cebuana Lhuiller’s Micro Savings. Initially offered in our Rural Bank branches, it is now available through our entire Cebuana Lhuillier branch networks. Simply put, you can use your 24K Plus cards at any of our Cebuana Lhuillier Pawnshop and Bank Branches in order to withdraw from or deposit to your savings. With a minimum deposit amount of only P50 and no minimum maintaining balance, it’s incredibly easy to apply for one. You can even check your savings amount via SMS. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.