How to Handle Your Finances Properly

In the past, I also had a fair share of handling finances improperly. As an adult, bills are inevitable and totally overwhelming at some point. One thing I learned through the years is that it is not how much you earn, it is how much you save and invest.

When I was in my early 20s, saving is part of my monthly/bi-monthly plans. I save at least 10 to 20 percent of my salary. I know this could be ideal, but I also know that it was not enough. I enrolled myself in graduate studies in a state university – though it is not that expensive compared to other private universities, it also needed planning.

Apartment rent took a big chunk of my budget, especially in Manila. The rate is too steep, but the convenience is priceless since it is near where I was working and accessible whenever I need to attend meetings, conferences, or the like.

I was a struggling millennial. I was living to pay the bills. Aren’t we all are? Continuously, I have learned what could work from what could not. Here are some of the tips on how we could all handle our finances properly:

Find a more affordable alternative
Ladies would understand. It is almost impossible not to splurge on things even a bit. Shopping could be therapeutic. If you cannot duly put a halt on shopping, then at least find a cheaper or a more affordable alternative.

If you like to shop for cosmetics like brand new lipsticks, face powder, and the like, then shift to less pricey items. Happy Shift is a go-to brand! Items are not more than Php300.00. (Yey! Nakapag-plug pa). Hehe. But seriously, you should be more cautious about how much you spend especially if you are saving for something big.

Save and Invest
Saving is essential, yet it is not enough. If you want your money to grow, you must invest. Nowadays, there are many ways on how you can double or triple your resources. You may opt to start your own business, buy stocks, get non-traditional insurance, and the like.

Such ways can ensure that you would be able to sustain your preferred lifestyle by the time you retire.
In addition, there is no fear of crossing the streets anymore because you are insured should you encounter accidents. Hehe.

Don’t bite more than you can chew
It is applicable in every instance of life. Don’t buy things you know you cannot afford or if you know that it will be a pain to pay for it. Don’t go to places where your budget could not fit in – maybe your personality can, but your pocket cannot.

Don’t go on dates you cannot afford and put a halt on purchasing items just because they are trendy. Life is about making the most out of everything you have and not chasing things or people who cannot see you as a feasible confidant.

Depending on your circumstances, you can enjoy your stay here on Earth without much of an expense.

Raket is the best way to jumpstart your earnings and your savings. If you have free time and you tend to be bored, why not look for things that you can enjoy and you can earn at the same time? When I was a fresh graduate and moved out early from my grandparents’ home, I looked for many different opportunities I can do during weekends that can pay. I copywrite, proofread articles, write blogs, and even stories for films.

It pays just right for the time I shell out to do it. I went to teach kids voluntarily and later on hired as a part-time teacher. With those, I can afford travels around the Philippines and internationally.

I know these things are hard to do for some, but it is more difficult to just be ‘surviving.’ It is nice to afford ‘living’ and having fun while you still can. I always believe that money is not everything, but it is essential. Working and saving for it is not wrong, just know when to rest and renew yourself from time-to-time.

Author: shainnehostalero

Shainne Hostalero, MDC is a social entrepreneur (owner and founder of Happy Shift PH), a communication scholar, and a writer.

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