Friday night is finally approaching, and all your gals are getting together for a movie and dinner. The only problem? You just paid off your bill, and, in your enthusiasm, you set up a new budget that does not include a PHP2,000 evening out.
Before you begin making up an excuse that does not sound as lame as “I am on a budget,” consider this idea. It’s possible to spend less money and still hang out with your friends—without earning the label “kuripot.”
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How Easy Cash Loan Online Philippines Can Help You
Most Filipinos have faced financial hardships at one point in their lives. It could be family expenses, medical emergencies, and bills to pay. Using cash to overcome to above scenarios has become a concern.
Fortunate are those who have friends and family they can run to in case they need to borrow more money. Nonetheless, it does not always happen, and the people you go to cannot give cash either.
Sean Martin D. Plantado, head of customer service at Digido.ph, notes that even with excellent financial planning and discipline, the possibility of financial emergencies cannot be completely ruled out. For most Filipinos who live from paycheck to paycheck, this urgent need for finances becomes a serious problem. Plz visit here for information about Beef
If a similar scenario happened to you, what are your viable options? You may be planning on getting an easy cash loan online Philippines, which, fortunately, is always accessible (more details).
- Simple Application
Most lenders provide instant cash advance solutions available 24/7. Signing up is rather easy, and approval is finished instantly, making this kind of loan appealing to those in dire need of cash.
- Simple Conditions
One of the reasons why easy cash loan online Philippines solutions are such a simple option for Filipinos in need of cash is because it needs fewer requirements. Unlike your average loan, where you need many requirements to confirm your ability to repay the loan, these instant cash solutions only need minimal requirements.
- No Credit Check Needed
Another cool thing with easy cash loan online Philippines is that you can still get a loan if you have a low credit score or a bad credit history. No credit check is needed. What’s more, numerous online lenders provide fast solutions for bad credit.
Unique Ways to Start Saving
You can confidently hang out with your friends and stick to your saving goals by being slyly frugal. Here are some tips for you to consider.
- Always set a budget
The first place to start when you’re trying to learn how to save money is to evaluate how much you have and where that money is going.
Consider using the 50/30/20 rule to set a budget. This rule states that fifty percent of your income must go to essentials like goods and rent, thirty percent must go toward savings, and twenty percent will go to personal expenses such as entertainment.
It’s recommended to update your budget every year or more frequently if your situations change substantially (like having a baby or getting or losing a job).
- Track your spending
Filipinos can fall into the trap of thinking that spending on major things gets them into trouble when often, the small things end up costing them more.
That’s why keeping track of your daily spending is crucial, so you do not live beyond your means. Your bank statement will also tell you how much money is going into your account and how much is going out.
You can then compare it with your own budget and figure out whether you are sticking to it or not. Then, you can determine areas where you can save.
Just the idea of having to track your spending could ward off those impulse purchases.
- Open a savings account
Restricting access to your money through a savings account can offer you a higher interest rate than a standard transaction account.
You see, a savings account is somewhere you can put all or some of your discretionary income—the amount left over after paying for tax and personal necessities. You can also ward off the temptation to spend that discretionary money by setting up automated, scheduled transfers from your main account to your savings account.
Also, rounding down your transaction account balance is an excellent way to glean added money for your savings account.
- Control your impulses
Online shopping, ATMs, and credit cards make it easier than ever to spend money. Right? Particularly on things, you want rather than need—the extent to which you succumb to temptation boils down to your willpower.
Different studies have proven that self-control is like a muscle that tires out with use. Paradoxically, the willpower of poorer shoppers tends to get depleted the most. That’s the outcome of the fact they experience repeated, challenging financial decisions.
If you see something you like, wait at least a day before purchasing it—thirty days if it is a non-necessary major purchase. You might find the impulse passes.
Another good way of short-circuiting your impulse to purchase is to determine how many hours of work the purchase price signifies. Chances are you will think the item is not worth it.
- Concentrate on recurring expenses
Every little bit helps, but your large, recurring expenses give the most fertile ground for increasing your savings.
Look over your bank statements and check everything you’ve spent money on over the previous year. See how much money you could save on them by, for instance, refinancing your home loan.
Cutting your fuel costs needs constant vigilance. And even if you are happy with your internet and mobile service providers, research if they have a cheaper plan.
To Sum Up
There’s no shame in borrowing money as long as you can repay it. Easy cash loan online Philippines is an excellent way to finance yourself through difficult patches, but you must be considerate of yourself and try to cut spending on things you do not actually need.
The key to saving money successfully is having patience. You might not become wealthy overnight, but making an effort to change your unconscious spending behaviors puts you one step closer to financial freedom.
We hope this article has changed your point of view about saving and applying for a loan.