Editor's note: This article was written by MoneyMax, the Philippines' foremost online platform for comparing financial and telecom products and services, for ABS-CBNnews.com. Find out more at MoneyMax.ph
According to census, 55 percent of Filipino families consider themselves poor.
This is amid government’s declaration of a growing economy and the country being a "tiger" in the continent.
The average income of a Filipino family is P20,000, 42.8 percent of which goes to food and expenses on housing, water, electricity and gas. There are still millions living below the poverty line, but among all those who have regular income, only 18 percent is able to save.
Little do we know, we can save more money by doing almost effortless chores we simply forget, overlook or are not aware of.
For instance, in your household, heating and cooling appliances consume increasing electricity once you turn it on and go stable as you use it.
Appliances such as iron must be used on a schedule to save electricity by turning it on less frequently. In addition to that, windows should be kept open for natural lighting and ventilation.
When you go out to eat, pick "eat-all-you-can" restaurants when you’re really into eating a lot. Don’t go to these restaurants if you think you’ll just finish a meal that has the price equal or less than the price of the unlimited meal.
As much as possible, stick with water instead of ordering sodas or overpriced powdered drinks.
When you’re out for a drive, gas up near your home which is normally cheaper compared to the ones in the highway and gas up even if you still have something in the tank.
Invite your friends for a ride for shared expenses and plan your trips to save gasoline. When you renew your car insurance policy, try to compare and get the best rates with the best coverage and perks.
If you’re the one shopping, don’t hesitate to use your mobile phone’s calculator when in the supermarket and see if buying in bulk is much cheaper than buying items in sachets or small packs.
Prepare a shopping list to save time and effort and always watch out for great discounts and clearance sales.
