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Budget and Remittance: How Much Money Should You Remit During the Quarantine Period?

There should always be a balance between your overall budget and the money that you’ll utilize to help others. We Filipinos are known to be one of the most helpful and charitable people in the world. Whenever someone is in need, may it be a family, a friend, or a loved one, we are always the first to react to their heed for assistance. For the most part, helping out a family is seen as an obligation, as blood ties will always be stronger than any other bond in the world, however, it is also mainly due to the Filipino spirit of camaraderie and unity. Now, the same thing may apply towards friends, as we definitely treat our closest friends as part of the family. No matter how much of a stranger a friend can be towards your other family members, they can be as close to you as your very own brother or sister, so it is only understandable for you to treat them all in equal footing. With all of that being said, there will always be limits, with regards to the amount of assistance that you may provide towards all of them. While the word “assistance” may come in many form, usually by a piece of advice or as a shoulder to lean on, our current economy may entail that assistance to be made of materials things, specifically, money.


Things haven’t been easy for everyone as of late. It was already tough before the pandemic even began, so much more that now, the very same pandemic has taken away the source of income and livelihood of many of our kababayans. You may have a few relatives under that belt, those who were suddenly let go as the pandemic ravaged their businesses, leaving them with nothing to live by. And just to make ends meet, they try to capitalize on opportunities which would jumpstart their goal of making a living again, but in order to initiate that, they need a capital, and who better to ask that from than you? Of course, if you have more than enough, you can help them out by providing that financial assistance. If it wouldn’t be much of a bother (since, understandably, you might have been affected by the economic blow of the pandemic as well), then by all means help your relatives out. But ready as you may be to jump into action, before even taking a step towards remitting your money, make sure that you balance things out first. The thing about sending financial help is that, if you’d send too less of an amount, your budget may remain intact, but that very small amount would not be able to help out your relatives. The opposite thing happens when you send too much financial help, as your relatives may be given more than enough capital to start all over again, but you will be left with nothing to make your very own ends meet. There should at least be proper balance when helping out even the person closest to you.


You may ask, “Is there any way for me to determine how to balance out my budget and my remittance?” The good news and definite answer is “Yes, there is.” Since you’re going to be the one to send over that financial assistance, it is your responsibility to even things out between your budget and the amount to be sent. There are many ways to achieve this, but we’re just going to cover the more significant ones, as they are the most efficient and the more commonly known when it comes to balancing out financials.


  • Plan out your own budget before sending over any amount for assistance.

One way to determine the perfect balance between your household budget and the money that you’re planning to remit would be to take a look at your very own budget plan. If you don’t have it already, formulate one. Plan out your budget for the upcoming months. Of course, never forget to include the essentials, such as the expenses for your groceries, your bills, your emergency funds, and even for the enrollment of your kids (online classes are now ongoing, and your kids may very much encounter the same situation). Now, after sorting out your budget, plan out in detail your expenditures, make sure that no amount would be wasted, make sure that everything will be accounted for, that no bill would be left unpaid. If you’re able to plot out the budget for the upcoming months at least, then you’re on your way to segregating the amount you’re willing to remit towards your loved ones. If it’s just enough, don’t worry, everyone’s in a hole right now financially and they’ll get by even with only the exact amount that they’d ask for.


  • Put into consideration your needs versus your wants.

Especially now that everyone’s in a tight spot, people would need to be more conscious about their spending. We’ve mentioned before about plotting out your budget for the upcoming months, but this is only for the pre-determined parts of your daily living, such as the essentials. There are other things which may catch your attention, and we must tell you that not everything you may see deserves too much of your attention, well enough to be bought. Food, water, electricity, communication utilities, these are all very important, and to be able to avail them, you must not overspend on the unnecessary things. If you were to practice ample amounts of self-control, you’d be surprised at how big of an amount you can save in the long run. Of course, savings would mean being able to have the amount to send over to your loved ones, and that would be more worth than any purchase that you may have online.


  • Discuss and possibly negotiate the amount in question.

Sometimes, it can’t be helped. Everyone’s in a struggle right now due to the present situation of our economy, so understandably, you may not even have enough for the amount that your relatives or friends are asking for. If that’s the case, be honest, feel free to discuss your current situation as well. If your friend or relative happens to be living in the province, let them know of the current situation in your place. Life is tough all around, and the urban areas of Manila are in equal footing with the provinces when it comes to the current economic situation. Make them realize that your own family may be experiencing the same situation that they have back at home. Negotiate the financial amount if you must. Your honesty can go a long way.


So, these are just some of the many ways to balance out your own budget and the money to be sent towards your friends or loved ones. Pick whichever would work best for you and plan your every move before making a decision. At this point, every centavo counts, use it well and manage it wisely. Choose Cebuana Lhuillier for their most reliable Money Remittance service. Be sure to visit the nearest branch now for more information.