4 Easy Money-Saving Hacks You Can Practice Every Day

As they say: A Peso saved, is a Peso earned.


(SPOT.ph)
As a productive member of society, you are well-aware of how expensive it really is to simply exist in this world. That being said, saving money doesn't come naturally to everyone, and if you’re still having trouble saving up—or if you just want to save some extra—you better read these handy tips to get your financial life back on track.

Balance FOMO and YOLO
Prioritize spending for things you really need instead of the things you merely want, and spend only for the things you really, really want instead of splurging on all the latest trends. So what if you don’t have a designer bag or the latest gadgets? In the end, what’s important is that you—and your bank account—are happy and content.

Moping around doesn't help much, either.

Be a less emotional spender
They don’t call it retail therapy for nothing! Resist the urge to spend emotionally by leaving your credit cards and ATM cards at home—especially after a particularly bad day! This way, you’ll make do with just the money you have on hand, successfully avoiding impulse buys.

Sagely advise when it comes to spending.

Say no to sales
Even if you save P500 by getting that pretty blouse priced at 50 percent off, you’re still spending P500—which you can put to much better use—on clothes you probably don’t need. Nip that habit in the bud while you still can for your wallet’s sanity!

Is all that stress really worth the discount?

Health is wealth
Here’s a sneaky way to save money without even realizing it: stay healthy. Avoiding vices, sticking to a proper diet, and maintaining a regular fitness routine keeps your body strong and fit, and that means not getting sick and not spending for hospital bills and medicine. That’s hitting two birds with one stone!

Exactly.

Armed with these excellent tips for saving money, you're now better equipped to maximize your nest egg. How? By investing it! Try out BDO’s Easy Investment Plan (EIP,) which allows you to make contributions for as low as P1,000 each month, automatically deducted from your BDO Checking or Savings account (how convenient!).

Sounds interesting? Simply go to your BDO online banking account and enroll your savings or checking account in the EIP, choose the type of Unit Investment Trust Fund that fits your lifestyle, and decide on the frequency and the amount you'd like to contribute.  Once you're enrolled, the amount you've decided on will automatically be debited from your account and it'll be invested immediately. And to entice you even more: from May 1 to July 31 2016, get 50 BDO Rewards points if you have a successful single EIP contribution of at least P3,000 done via the BDO online banking facility!

BDO’s EIP also lets you ride market movements through cost averaging, letting you invest without worrying about the best times to do so. Check out BDO’s EIP; the sooner you begin investing, the sooner your savings will grow!

Please contact: BDO Trust Makati at (632) 840-7000 locals 4265/ 4244/ 4255 /7032, Trust Cebu Desk (6332) 231-1131 or Trust Davao Desk (6382) 221-8959. You may also click here to visit BDO's website or email investments@bdo.com.ph.

This article was created by Summit Storylabs in partnership with a Sponsor.
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