We often hear the phrase “treat yourself” as a reminder for us to take a step back from our hectic lifestyles and take care of ourselves. For some of us, this would mean taking ourselves out for a meal or buying new clothes or other items. In an era where spending money can be done in just a click of a button, it can be easy to go overboard and spend more than what you actually intended. Here are some tips and tricks on how you can treat yourself-and save your wallet at the same time.
Set a budget
Getting our paychecks may make us feel like millionaires, but remember that money runs out. Be smart and set limitations for what you will and will not spend. One of the common ways to do this is the 50-30-20 budgeting rule. Popularized by US senator Elizabeth Warren, this rule states that 50% of your monthly salary should be used for immediate needs, 20% of savings, and 30% for wants. Of course, everyone has different needs, so feel free to alter the proportions to suit your lifestyle better. The most important thing to do is to set limitations for yourself and to always set aside whatever you can just in case of emergencies.
Do your research
Now that you have a budget in mind, think of what you want to buy. Will you actually use it after a year or two? Do you have space for it? Look at what items you currently have and maybe rediscover items you have long forgotten. If you still want to buy something, do your research. Find the same item at a different store for a lower price or seek more affordable deals online. Be a smart consumer and get as much out of your money as you can.
Use cash as much as you can
In a 2018 article published by Forbes, various studies have shown that people are more likely to spend more when using their credit cards. This is because you do not see the amount you are actually spending until much later, making it easier to overspend. Use cash as much as you can and only use your credit card when necessary. When you are able to see and feel the amount of money you are spending in your hands, your brain forms a connection to the bills, so you will spend less.
Buy second hand
Scrolling through social media, you will see various online stores and individual sellers alike selling everything from clothes, gadgets, even cars. Maybe you know someone who is looking to get rid of some extra items that have been gathering dust in their homes. Whatever the case, buying pre-loved items is not only undeniably cheaper, but also more sustainable as well. In an article from Business Insider, the fashion industry produces 10% of the world’s total carbon emissions. It is also the second largest consumer of water and produces a lot of microplastics. By buying pre-loved clothes, you can significantly reduce the amount of textile going to landfills and help conserve more water. Not only do you get to pamper yourself for a lower cost, you also do your part in saving the environment.
Make your own
Filipinos love to eat, no matter what the occasion. We also love milk tea, being the second largest consumer of the boba treat. Instead of standing around waiting for your dose of bubbly goodness, why not try to make your own? Making your own milk tea allows you to control the amount of sugar and toppings in your cup, and will save you both time and money. Learn how to cook your favorite meals and bring your loved ones over for a nice home cooked meal instead of a fancy restaurant. Not only do you save hundreds of pesos and time, you learn a new skill as well.
Annie Ching
Image credits: unsplash.com