9/28/2018

Fight-off the “Sili” Inflation

As prices soar on different consumer goods, one must control its budget or so the Filipinos call it as having “higpit-sinturon”. These may be a strange advice but it is somewhat effective.

Here are some of the tips to beat Inflation:

1. Avoid Lavish Lifestyle
You may have increase your salary by doing a good performance, but keep in mind that your salary isn’t inflation-proof.

It can always be tempting to buy those things you haven’t bought last month but increasing your spending may backfire against you. Yes, you may afford it now, but price hikes will always ruin your everyday budgeting.

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2. Don’t just ignore that cent
You may have thrown away that 5, 10 or 25 centavos peso coin but always remember that it still has value. You may have need to collect every centavo you have in your house or just those left on the streets and you will be surprise by how much you can save on it. Try doing it and see.

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3. Always maintain that tight budget
Define what you have to prioritise and know your limit in spending. Allocate your reasonable budget for your savings, household, utilities, debt payment, and emergency fund that you can use for unknown extremities.

Following the TRAIN law implementation, prices of goods have increased and your usual budget may not be enough. Adjusting it or allotting more funds for expenses may gave you control over the soaring cost of today’s products and necessities. Just make sure that your income can cover your basic necessities and needs.

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4. Eliminate pointless expenses
Take a look at your budget and see which things you can let go or cut down. Do you drive a car to work every day? Try to make a business by carpooling other passengers. You may earn additional income at the same time help other passengers go to work at ease.

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5. Always have a back-up plan for your budget
Because of Inflation, prices soar unexpectedly. Keep increasing your emergency fund so that no matter the increase of products and goods, your budget won’t be affected much.

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6. Track your Expenses towards Current Prices
You may have a budget for everything but always keep in mind the prices of current goods. Always plan ahead so that you will never get surprise during price hikes. Always monitor how much money is coming in and out.

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7. Find convenient Shopping Apps that will give you not just Shopping Points but also, Cashback!
Shopping online is a hit nowadays but do you know that some of your favourite stores have CASHBACK?


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Learn more how you could save on SHOPPING!


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* The margin benefits are dependant on the products purchased and the Loyalty Merchant. All hereto information on this website is therefore without guarantee.