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7 Surefire Tips To Help You Save Money

Online savings account application on smart phone


Saving money can be difficult because of the different bills that one has to pay every month. You need electricity to light up your home and make your appliances work,and water is necessary since people use it to cook, clean, shower, and more. In addition, having internet is a must for people who spend a lot of time working from home or attending online classes.

What’s more, you also need cash to buy things for yourself like food and clothing. Despite all the expenses stated, we have some tips that will help you save money in the Philippines and grow your online savings. At Cebuana Lhuillier Philippines, you can open an online bank account to start saving for everything you need and want.


Set a Realistic Budget 

Before you start saving, compute much your total expenses will be. You might have a hard time if you set a budget first and then let all your costs follow since the amount you have set for utilities might not be enough.

For example, let’s talk about internet subscriptions in the Philippines. Say that you are subscribed to a one-thousand-peso deal. This means the amount you will need to pay that specified amount for months unless you change your subscription, which may have additional charges for some providers.

With that in mind, write down your monthly expenses before setting a budget that can fit all the utilities bills for your home. After that, consider what else you might need monthly, like food, clothing, or rent. Assign a reasonable amount for every item to ensure that you still have money to put into your Philippine online savings account.


Track Your Spending 

It can be tempting to spend on things once you get your salary. To keep a record and avoid using more money than necessary, you must track your spending. You can do this using your cellphone or a notebook.

By tracking your spending, you can watch monitor your money goes and adjust your budget accordingly. It can also allow you to assess if some of your expenses were necessary for the month. You may ask yourself questions like, “Did I need this much grocery?” or “Did I have to buy this shirt at the time?”

To help you keep track, you can get a bank account that shows you the history of your expenses. In the Philippines, you can get one by sending an application to open an online bank account for your preferred bank easily. Head to their website or the bank itself to learn what you need to set it up.


Treat Yourself Only if Needed 

If you did a great job today at school or work, you’d naturally want to treat yourself to something nice. Doing this is a good practice to continue motivating yourself to do better in your things. However, this can be the cause of your financial issues if left unchecked.

It is not wrong to spend for yourselves, but it can definitely be limited so that you can save more money for future purposes. Treat yourself when you’ve accomplished something particularly difficult for you. For instance, you could have finished a project you have been working on for weeks or you could have been promoted after months of undergoing training.

Furthermore, if you need to treat yourself after a tiring day, resting at home is a great alternative to shopping. You can turn on some great music, prepare yourself a cup of tea, and simply enjoy a movie.


Pay Bills on Time To Avoid Penalties 

A common mistake that causes additional expenses is when you do not pay your bills on time. Usually, when you are past the due date, the service provider you are under will give you penalties, like additional amounts to pay. Although some may not be too expensive, the amount you accumulate through time could severely impact your savings.

To avoid such cases, always check the due dates written on your bills. You can list them on your calendar to be reminded that you need to pay for them soon. Another option is to set an alarm using your a mobile application so that your phone will alert you once the due dates are near.


Try To Say “No” to Unnecessary Loans 

There are many things people buy because they want or need them at the time. When you see an item you like, you may be tempted to get a loan to buy it. However, the best thing to do is determine whether the thing you want to purcahse is important. Ask yourself questions like:

  • Do I need it now?
  • Will it solve a problem that has been greatly affecting my productivity?
  • Can I pay the amount I loaned without affecting my budget for other things?
  • What are the pros and cons of getting a loan for this item or service?
  • How much is the interest rate?
  • What is the duration of my loan?

Once you have answered those questions, determine if you have any hesitations. If there are, reconsider whether you need a loan to buy it or you can still wait so you can save more money.


Save Your Bonuses Right Away 

Every year, bonuses are given by employers, whether to motivate workers or to comply with the law. When that time comes, you may feel like you need to buy yourself something. We suggest to use the bonuses you get by saving them right away. Some banks have interests that will help you increase your money depending on the amount you maintain with them.


Open Multiple Online Savings Accounts 

Aside from interests, you can also manage your funds well when you utilize savings accounts. You can set up an account that specifically keeps your emergency fund to avoid accidentally using it. By doing so, you can manage your money better while ensuring that every kind of spending is well accounted for.

With online savings accounts, you are not limited to having multiple accounts for different things you want to save on. Also, if you maintain a certain amount, as stated on the point before this, you may earn interest.



Saving money in the Philippines is easier to do with an online savings account. It can help you keep your money safely and manage your expenses better so that you won’t have to worry about losing savings over unnecessary stuff. Save money today with the help of one of the best companies that offer online savings accounts in the Philippines, Cebuana. Open an online savings account now! Explore our website for more information.