1. Eating Out
Many of us waste money eating out and it is something you should avoid during the pandemic for both health and financial reasons. If you calculate an average of 250 Pesos per meal and you eat out 4 times per week that is 4,000 Pesos per month, or 48,000 Pesos per year, that could have been saved. And if you eat out at more expensive restaurants this amount can easily triple to 12,000 Pesos per month or 144,000 Pesos per year.
Eating at home over the next few months will both reduce your chances of getting the virus and improve your financial situation.
2. Clothes
Working from home does not require us to be wearing the more formal clothes that we are used to wearing at the office. We are working from the comfort of our own environment without colleagues and the boss's insight. Therefore, there is no reason why you need to buy a new set of clothes to work from home. This is money that can easily be put into your savings to improve your financial situation and create a more stable financial future for you and your family.
Don’t be tempted by all the online advertisements on social media or the latest fashion trends being promoted by brands. Ask yourself whether you really need the piece of clothing and take a few days to think about it instead of making the purchase right away.
3. Online Shopping
Besides the work from home essentials, like a good chair or desk, do not waste your time scrolling through online shopping websites like Shopee or Lazada. Scrolling these sites can easily give temptation to buy things that you do not need in your life. It is part of human nature to be tempted to want things that we think we need and get them right away; however, it is important to control this impulse and make sure that the purchase will increase your productivity for the long term and not an impulsive want or need.
Be smart and think twice before spending money. A rule of thumb that we should all follow is "if the item does not add value to our lives, we don't need it in our lives."
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