15 creative ways on how to save more while spending this NEW YEAR

Every first quarter of the year the Filipinos usually turnaround from their wicked ways such as too much shopping for gifts and consuming so much food from the previous season. New Year is the right time to make up for that lack of focus from the last quarter of last year. In order to prevent further cost in everything that you do these steps will help you prevent the big cash outflow while you are spending.

  1. Have a fix budget for the gifts – When you create a spending plan this can give you an advantage to hit your desired goals which is not to be guilty after the whole shopping experience but have an extra buffer for other priorities while being a blessing to a lot of people.

    Construction site crane building a blue 3D text. Part of a series.

  2. Have a why before you buy – Your why is the emotional reason attach to the things you want to achieve that’s why you need to ask yourself so many times whether those items you would like to have is something you can live without. Having a why will prevent you from buyers remorse. 
  3. List down the people who deserve to have those gifts – The people that matters to you and playing a big role into your life is worthy of your time. Show some appreciation to them because the more you give, the more you will receive. 
  4. Have criteria when it comes to lending people – Many will borrow and very few people will pay, to avoid that kind of scenarios filter everyone that will ask money from you or else you will not be able to sleep if you lend money to the wrong people. 
  5. Never ever co sign a loan – Loans of other people should only designed for them so no need to meddle on their problem or you may regret it. Just give them the money you are willing to lose to avoid stress. 
  6. Double check the needs and wants – Let your needs speak louder this time of year and not the wants. 
  7. Don’t bring 2 to 4 credit cards in a mall – Research studies say that it’s easier to pay using card than cash, and the worst thing is you will bury yourself into a big debt when you can’t help yourself swiping it. 
  8. Don’t pay in retail – When your aim is to buy gifts for your big families and relatives, paying in bulk can give you more of an advantage than spending in retail items. Whole sale is the name of the game. 
  9. Learn before you invest – Spending season is not just about buying items but also buying stocks and mutual funds. Studying your first investments will help you grow and discover some strategies in order to prevent losing in the long run. 
  10. Be an explorer – Going to a big bazaar looking for the best items to give to other people will help you find the best deals instead of looking for those items in a single store. Go and check other items. 
  11. Take good care of your car – Your car probably must be new or old but remember if you will take care of it more you will soon reap what you sow, it will prevent you from incurring a lot of costs. 
  12. Talk to your spouse – If you have an accountability partner, it will help you to say ‘No” and it can also increase your productivity too.  
  13. Haggle and negotiate – Learning the negotiation tactics is a skill and you will always have a power to do that. 
  14. Live within your means – If your budget is too tight, just stay within that area. Never let other people dictate your budget or else you may suffer from debt.
  15. Form a relationship– Filipinos are very hospitable and once we develop that kind of close relationship to the vendor, you may be their “suki” and earn a lot of discount, not only you built that connection with them, you also stretch your budget for other important things. David Isaiah Angway is a Registered Financial Planner, Chartered Wealth Advisor and financial consultant for IT-BPO-Banking, Health Care Industry and Manpower Agencies. He is the CEO and founder of WinLongTerm Financial Consultancy, that helps organizations retain their top key employees such young urban and educated millennial (Gen Y) by teaching practical money management in the workplace. For more information and concerns subscribe to winlongterm.com, Facebook page or contact him at david@winlongterm.com, mobile number 0932-445-0145


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