How to Save Money from Salary in the Philippines [7 Tipid Tips]

Do you want to know how to save money from salary in the Philippines?

I have dreams as grand and as special as the next Pinoy Millennial. Don’t you have them also?

You want to travel around the Philippines — and even travel the world. Exciting!

But your income isn’t even enough for you to travel comfortably to work everyday. Minsan, kelangan mo pa makipagsapalaran sa bus, MRT at LRT.

You want to dine out and try the amazing food selections spanning the different countries.

But your bank account says you can only afford fast food for now. Sabi nga nila, budget-tarian daw tayo.

You want to live in a comfortable, posh and swoon-worthy apartment with its color schemes, satisfying patterns and vintage furniture that you personally arranged to be imported from exotic locations.

But your money in your wallet is telling you that you don’t have enough money to get by with this month’s rent payment.

In this article, we’ll share the best tipid tips everyday you can do to save money from your salary, so you can balance money management with fun.

Let’s get started!

How to Save Money from Your Salary (For Filipinos)

1. Log out of Instagram at least twice a week

Instagram is full of pretty pictures of gorgeous clothes, fantastic scenery and seemingly perfect lives of seemingly perfect people.

It’s also a blackhole for your finances.

Instagram is a portal for social comparison.

The more you compare yourself to friends/strangers you’re following on Instagram, the more you feel inferior.

Bakit si Jimin pupunta sa concert habang ako nasa office? There goes that extra ₱200 you spent on Starbucks to make you feel better about yourself.

Swerte ni Hobi oh: nasa Japan na naman sya. Mayaman kasi, e. There goes that ₱800 bill on your groceries because you felt like you deserved it.

Grabe si Bora, ang ganda lagi ng buhok. And there goes that ₱2,500 you spent on your hair to make it shinier, bouncier and sexier.

Do yourself a favor and log out of Instagram.

Life’s sweeter when we’re not bitter. 🙂

MONTHLY SAVINGS: ₱1,000 at least!

2. B—– please

When I was younger, I didn’t believe in budgeting.

I thought to myself, “Why budget? It’s just a bunch of numbers that make no sense whatsoever.”

And it’s this kind of thinking that cost me ₱3,000 per month.

When I wasn’t budgeting, I thought I was spending only ₱8,000/month.

When I finally started budgeting, I was spending around ₱11,000/month pala!

You need a budget — it’s a plan that allows you to have fun.

Try the SELFIE style of budgeting here.

A budget tells you that you can afford anything; but NOT everything, so you have to prioritize.

It also tells you where you want your money to go, instead of just blindly following your cravings.

MONTHLY SAVINGS: ₱500 or more!

3. Move back home and pay your parents (or find a roommate)

If your parental home is near your work and you’re thinking of moving out because you just want to experience it, think twice.

Renting an apartment or condo unit will set you back ₱6,000-₱15,000/month.

Staying with your parents and paying utilities will only cost ₱3,000-₱5,000/month.

You do the math.

Otherwise, you can find a trusted roommate who’s willing to split costs with you.

MONTHLY SAVINGS: ₱3,000 or more

4. Starbucks is okay: just don’t do it everyday

If you go to Starbucks every single day for 30 days (why???), you spend roughly ₱4,500/month.

If you make it thrice a week instead, it’s just for 15 days, so you’ll only spend ₱2,250.

Hindi naman Starbucks ang blood type mo.

You’ll survive.

I know I did. 🙂

MONTHLY SAVINGS: ₱2,250

(Pro-tip: Want more savings? Order a Short size for your hot drinks instead.)

5. Try the Envelope Method

What is the Envelope System?

I know some people practice the Envelope System figuratively — they use separate accounts with different names so that they will be able to have a non-fuss budgeting system.

Other people use literal envelopes because they feel that doing so makes their dreams more tangible. As for me, I use both.

What categories should you put in your very own envelope? Here’s mine.

MONTHLY SAVINGS: Depends on your personal consumption

6. Use an expense tracker app

I love Pocket and Monefy because they help me become mindful of my daily expenses.

Tons of money management apps even have a section for placing your accounts so that when you see your net worth grow, you feel better about being in control of your money. 🙂

Bonus point — they’re usually free!

MONTHLY SAVINGS: ₱50 (because you’ll be saving on paper and pen costs) Plus, being mindful of your daily expenses can help you exercise control on your purchases.

“Oh, ₱145 lang naman yung isang order ng Baked Pork Bun!”

When you check your app and see that you’ve ordered the same item five times in a week, you’ll realize you’ve spent ₱725 already and stop spending so much money.

“I’ll buy this J.Co dozen doughnuts. I deserve it. It’s P360 lang naman!”

And then you see in the app that you’ve already bought it thrice a month, that P₱60 is now ₱1,080 and you think twice about buying the fourth box because really, who needs to eat a doughnut when you can just settle with iced candy for your sugar cravings?

7. Cut your cable and/or your landline.

I’ve cut my own cable years ago because I rarely watch TV anyway.

If you need landline for visa applications, input your office landline instead.

MONTHLY SAVINGS: ₱800 minimum

Final Thoughts on Saving Money from Salary

These money saving tips for employees in the Philippines are a little bit unconventional — but they do work, based on personal experience. 🙂

Want more savings hacks? Check out this helpful book titled Adulting Accomplice: 99 Adulting Tips You Wish You Knew in Your 20s for more.

And if you’re looking for a digital bank to put your savings in, you can see this post on the best savings accounts with zero maintaining balance to choose the best bank for your needs.