Now this sounds a little cliche, but you’ve probably heard the advice that in order to save, you have to cut back on spending.
On certain occasions, spending more can actually lead to bigger savings.
Once you’ve mastered the art of “smart spending,” you’ll feel deprived and you’ll also possess more things with better quality.
Get the most out of your peso when you do the following:
When you invest in quality
Usually, an item’s price reflects the time, effort, and materials that were used to put it on a shelf. Go for the pricier opinion if you’ll be using something for a long time.
Take your caffeine habit for example. Buying a P5000 coffee maker at a major store like SM Appliance Center seems like an expensive indulgence. But if you use it every day, and actually stop buying lattes from coffee shops, you’ll save thousands of pesos in a year.
When you build an inspirational wardrobe
Fill your wardrobe with pieces you imagine your future, more successful , and self-wearing. The right clothes can affect your confidence and disposition.
A study conducted at the Yale School of Management found a link between smart dressing and higher income. Wear items that make you feel empowered. Don’t limit yourself on branded names, For example, you can mix and match expensive classic pieces with affordable trendy ones found at Surplus, Uniqlo, Levi’s and Forever 21.
When you invest in appliances
Energy-efficiency can help lower your monthly electrical costs. For example, LED lights are more expensive, but they also last longer and consume less electricity.
When looking for a new television set, try getting a LED screen from SM Appliance Center. LED TVs are generally pricier but their backlight and brightness settings can be controlled, which some old LCD TVs cant do. Ultimately, LED TVs are great options because its LED tubes are smaller than older CCFL tubes which makes LED TVs thinner and sleeker.
When you buy big
When it comes to daily commodities, such as shampoo, detergent, and food items, buy in bulk instead of small packages at major grocery stores like the SM Supermarket or Watsons. You get more of your money’s worth if you go for the bigger bottle or bag.
Make it a habit to create a list and set a regular budget for grocery shopping. You’ll also be less tempted to buy unnecessary items.
If you wanna get quality items while cutting your spending costs this year, head over to SM City Cebu’s 3 Day Sale happening this March 16-18.