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Things to Avoid in Order to Limit Your Spending


It’s always tempting to let go of your savings and avail of the latest products in trend. If it isn’t your modern cellphones and gadgets, it’s the newest servings in your local fast food chains, quenching your thirst and hunger for that mouthwatering and savory meal, all thanks to aggressive advertisements. Due to these many temptations, it shouldn’t come as a surprise that a majority of us Filipinos are not able to save up in a yearly basis. Basically, it’s either we’re just getting through with our exact savings or we’re just in it for debt payments. It’s a sad reality; however, you can avoid falling to this particular situation if you would just avoid the following pitfalls:

1. Avoid withdrawing more than what you need.

Of course, everyone needs to refill their supplies, so a regular visit to the grocery is a must, but you should take note of the product prices and only withdraw the needed amount for the purchase. It’s not enough to cut down on your withdrawals; you should also be wise in choosing a much affordable item in the store. Not all mayonnaise are the same, but if one with a cheaper price tastes as good as the one with a hefty price tag, then you may need to go for the more economical choice. This would apply to all facets of your expenses, may it be bills, groceries, or even emergency expenses, only acquire the amount that you would exactly need, on order to avoid overspending.

2. Know what triggers and contributes to your spending.

This is a matter of self-control. Of course, we all need to eat, but you shouldn’t always go for an expensive snack if you want to limit your spending. Find alternatives to your daily routines. If your daily route is manageably a nearby walk, then stretch out your legs instead of booking a taxi. Avoid that expensive coffee shop and instead go for an affordable fast food brew. The possibilities are endless, and so are your choices.


3. Formulate a shopping list (and stick to it).

You make your own list, including milk and eggs. You arrive at the grocery, only to find that they had already ran out. You then find a few “on-sale” items and purchase those instead, thinking that you had saved a lot as they were indeed sold at a reduced price. This may sound logical enough, but if you were to look back, the amount that you had spent on the “on-sale” items were a lot higher than your supposed budget for the milk and eggs. When you go shopping without a list, it’s easy to get lost in the budget, and it’s much crazier to not follow your list if ever you had created one. Create a list; stick to it, and save a lot.

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