It’s always a great idea to learn and recalibrate our money habits.
And if you are like me and my clients who love the hopeful feeling every new year, then this is a post for you!
While many people search for adulting meaning and tips, more young adults and young professionals may have had a taste of the “outside world” or the “real life”.
As someone who had experienced the harsh reality of earning your own money, one of my favorite adulting quotes is: “live within your means”. When I was a student, this quote resonated with me a lot because I lived in a dorm and had a limited budget every week. I learned, at an early age, how to save money as a student.
“How to save money” tips for students and fresh grads:
It includes scouring the whole university block for the most affordable food and school/office supplies store. Since I lived in a dorm, preparing my own “baon” proved to be more expensive and challenging ‘coz we did not have a kitchen in our shared dorm. Eating out is the only way to eat. It’s a must you know the good food places aside from fast food.
Learning how to commute. In instances where you can avoid taxis and ride-hailing apps, DO IT. It teaches you to learn various routes AND to budget your time to give way for commuting. Recently, I tried to commute on the new LRT Antipolo station, you can ask me for some commute tips and I’ll try to answer as much as I can.
Limiting social outings (or gala) to a handful every month. I’ve been lucky to have friends (both in HS and college) who are not into “biglaang lakad” or sudden trips. When we want to go to amusement parks or even concerts, we’ll set it in advance so we can all find the time, energy, and money to commit! This is also a good way to save some spare money in case any “biglaang lakad” does take place (which happened a few times only!).
ADULTING 101 for fresh grads/ rookies
When I finally landed my first job, I was happy to be earning money for the first time. My first ‘sahod’ or salary was spent treating my family to a meal!
As the months rolled by, the regular bi-monthly salary accumulated which poses a temptation to spend mindlessly. I’ve had various chances of spending leisurely on items and experiences (which I do not regret, by the way). But over time, I was hit by the reality that I have to be smarter with my money while I am not yet faced with tackling the responsibilities of financially-dependent parents, spouses, or children.
In short, I am single and I have enough wiggle room to save money for future use.
Here are some money lessons I learned in my first five years of employment:
Get insurance because you can have more value for your money. Your Php 1.5k/month insurance for a 24-year-old gets MORE COVERAGE than a Php 1.5k/month insurance for a 40-year-old. If you do not have many financial responsibilities yet, get insurance with higher coverage so you can finish paying it off earlier in life!
Get good quality shoes! I learned that expensive shoes from reputable brands really last a long time and they can save your life. When you commute to work (especially on rainy days), good shoes can help you have steady footing and protect you from slipping! Some shoes I bought pre-Pandemic were still okay even if I was not able to use them after 2 years of being at home.
Bring food or snacks to the office. Bringing BAON will always be a good way to save money! Imagine, going to the cafeteria for a Php 100 lunch and Php 50 merienda. That’s Php 3000 for a 20-day work month.
Now that I also work as a personal wealth habits coach, I try to share my practices and all knowledge I have about wealth building.
If any of these topics will be helpful for your goals this year, please feel free to send me a message for a free coaching session:
- Insurance
- Retirement funds
- Health Plans
- Travel Funds in the future
About France Afulugencia Coach France is a Sun Life Macaulay Club member (Sun Life's elite advisors all over the country). A personal finance advocate, she dreams of helping clients achieve their personal goals through habit building. She graduated magna cum laude from the University of Santo Tomas and worked as a senior marketing and public relations associate before being a full-time financial advisor.
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