6 Easy, Useful Money-Saving and Budgeting Tips for Filipino Students

How do you say no to online shopping? I was once that student who claimed that they were “broke” as I added another item in my cart. Honestly, who was I to do that? It’s not like I was earning any money back then.

There are a lot of budgeting tips for students out there, but this one is more of a personal reflection on what I could’ve done better now that I’m a bit older and am becoming more financially responsible.

Here’s a list of six ways to save some money without even lifting a finger!

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1. Don’t take the money with you!

The golden rule of money-saving: out of sight, out of mind. Don’t fool yourself into thinking that you have more cash than you already do! If you have money, put it in your alkansya and lock it if you must.

Wherever you go, make sure you only bring the amount that you need. While I do recommend always bringing a debit card for emergencies, looking at the amount of money you have left in your savings account is a good reminder not to spend anymore than what you need.

It’s simple: if you don’t have cash in your hand, you simply cannot buy anything. When I catch myself spending too much on an everyday basis, this is the rule that I go back to because it never fails.

Unless of course, you’re with a rich friend who offers to lend you some money. That is where the real temptation begins.

2. Uninstall those shopping apps.

Thankfully, I’ve never been the type to spontaneously buy something online. I do remember having quite the scare last year during the 10/10 sale though.

Do you know how these shopping sites make you buy more? By *gasp* making you install their apps on your phone. They’ll offer you all these amazing discounts and promos if, and only if, you fulfill that condition.

One of our most important budgeting tips for students is to simply delete those pesky little things.

It’s become Gen Z nature to swipe through random apps in our phone one second after we get bored. The big e-commerce sites know this and are banking on your boredom to get some purchases. So the moment you get your mobile-exclusive promo, make sure to uninstall the app in an instant.

Source: I work in marketing. But hey, I want to keep the doors open for these shopping giants to promote on our website. So on that note, keep your shopping apps in your phone, kids!

3. Split your savings into different wallets. Or invest!

This is a savvier way to execute “out of sight, out of mind.” There are so many e-wallets out there like GCash, Paymaya, LazWallet & GrabPay. What you can do is to place some money in these wallets.

That way, you won’t get complacent with seeing one large number in your savings account.

If you decide to go through with this, make sure you’re only just putting the money you know you’re going to spend. So if you’ve allocated PHP 1000 of your monthly allowance to Grab, make sure to only put that amount in the wallet and nothing more.

But of course, I can already hear the financial experts screaming how idiotic a move that is. That is exactly what these companies want you to do.

The wiser decision would be to invest. Yes, purchasing stocks is one of our most important budgeting tips for students.

Leading online stockbroker COL Financial has made it so much easier to open an account with them. You can actually start investing with just PHP 5,000 and a few clicks!

If the steep learning curve of investing worries you, then I’m assuring you that it only takes a whole day of dedicated reading and Youtube videos to get the basics down. COL Financial also has an Easy Investment Program which is basically what the name suggests it is.

You’re inevitably going to learn more about investment when you’re older anyway, so why not start now? One of my biggest financial regrets is being too lazy to set up an account when I was younger. Don’t be me, it’s not fun.

And if you’re asking, this isn’t a sponsored post… shockingly enough.

4. Baon is key!

It’s a cliche because it’s true: home-cooked meals are just so much cheaper. This is a must when it comes to budgeting tips for students.

However, this one in particular depends heavily on your living situation.

If you live in a house where someone else does the cooking, it would be easier to ask them to prepare extra food for you every day to avoid accidentally splurging on expensive meals in school.

If you live in a condominium or apartment, you should practice the art of meal planning. It’s basically when you set out a day in the week to prepare all the food you’ll be eating in the next days. It sounds like a lot, but try it out for two weeks before giving up on it. There are a lot of benefits you’ll enjoy like saving precious time in the future, and of course, keeping your money.

This one is more challenging for dormers and people without easy access to kitchens. If you’re one of them, we suggest finding a few go-to places near your area that sells cheap food and you legitimately enjoy.

The idea would be to buy from one of these places every morning and bring them to school like it’s your baon. That way, you’ll avoid being dragged to expensive restaurants by your friends!

5. Track your expenses.

It’s easier than it sounds. There are so many free personal budgeting apps available right now that helps you list down all the expenses you’ve amounted. Most budgeting apps let you place what category your expenses fall under (e.g. restaurants, entertainment, transportation) so you’ll be able to see where you are needlessly spending too much on.

Thing is, you don’t even have to install any of these apps if you don’t feel like it. I tried out one of them before and found it too complicated for my liking. Do what works for you!

Instead of doing it on my mobile, I place all my expenses in a personal budget template I found online. I do this every weekend to help me determine if I can spend more on my wants or not.

When you see all the expenses you’ve racked up, you are going to be hit with the cold hard reality that you’re spending way too much than you need to.

But you know what, us zoomers need a reality check that money doesn’t grow on trees!

6. Pre-plan your month.

In simpler terms: do some real budgeting. I know planning isn’t sexy unless you’re one of the few people who have a fetish for it. But when you actually lay out where your money will go for the next month, you’re going to want to stick to it. Trust me.

If your money should always be out of sight, then your budget should always be in sight. When you have your numbers laid out in the back of your head, you’ll realize that there is always a way to cut down on expenses.

You just have to get creative or endure some inconvenience.

Do you really love this particular restaurant but ordering takeout for the eleventh time will mean going over your budget? Maybe it’s time to search for a cheaper alternative. Are you used to buying branded clothes all the time? Well Shopee is a great haven for local small fashion stores. You just have to look for the good ones.

Here are some more personal budgeting templates that you could use to help you get started.

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Saving money can be a real pain in the butt for people who have not even received their first paycheck. But we hope these budgeting tips for students will at the very least, help you become more mindful of the places your money goes to.

Not shelling out money is a great practice of self-control; you just need to mentally swat away all the temptations that life has to offer. Definitely easier said than done.

Enjoyed this article? Look over here for more great advice that zoomers like you might need. And don’t forget to follow us @ZoomersCornerPH on Facebook, Twitter, and Instagram.

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