Budgeting 101: How to Save Your Sweldo Without Feeling Deprived

Ever felt like your salary just evaporates a few days after payday? You're not alone.

Budgeting might sound boring, but it’s your first line of defense against the dreaded petsa de peligro. It’s your key to building real wealth, even on an entry-level salary.

Let’s break down the basics of budgeting, a strategy you can actually stick to, and free apps to help you manage every peso.

In today’s edition, we’ll go over:

• Why you need to budget and how to get started

• Budgeting Apps to kickstart your journey

TLDR;

The Bottom Line

• Budget with Purpose: Use the 50-20-20-10 rule.

• Save First, Spend Later: Automate your savings and be realistic with your spending habits (yes, even your weekly milk tea or GrabFood).

• Use Free Tools: Apps like Monefy, Money Tracker, and Wallet  can help you easily track expenses and build better money habits without spending a centavo.

The content

Why You Need to Budget

1. Clarity and control: Knowing exactly where your money goes gives you power.

2. Stress-free spending: You can guiltlessly spend on things you love, given they’re in the budget.

3. Avoid debt: Budgeting entails living within or below your means. This means no room for toxic debt.

4. Build savings: Even a few thousands saved monthly builds up fast.

What gets measured, gets results. If you don’t tell your money where to go, you’ll always be wondering where it went.

Budgeting Rule of Thumb: The 50-30-20 Rule 

Here’s the classic rule of budgeting:

• 50% Needs – Rent, groceries, bills, fare, insurance, etc.

• 20% Savings & Debt Repayment – Emergency fund, investments, SSS/MP2, etc.

• 20% Wants – Travel, gadgets, food trips, hobbies.

• 10% Family Support – Many Pinoys give a portion of their income to family. Include this in your budget.

Sample Salary Breakdown: ₱30,000 Net Monthly Income

Don’t have family obligations? Great. Redirect that 10% to savings or investments.

You probably haven’t heard this

3 Shocking Budgeting Tips You’ve Probably Never Heard

1. Pay Yourself First, Not Last
Treat savings like a bill. Automate it. If you wait until the end of the month to save what’s left over, there won’t be anything left.

2. Budget for Convenience
Always ordering GrabFood because you’re too tired to cook? Include it in your budget. Don’t pretend you’ll magically become disciplined next month. Budget for you who you are now, not who you want to become. Be realistic. 

3. You Don’t Have to Track Every Peso Forever
The first 2-3 months of tracking expenses will be intense, but that’s the point. Once you learn your patterns, you can shift to broader categories. It gets easier over time.

Top 3 Free Budgeting Apps for Filipinos

3. Monefy (Android & iOS)

What it does: Track expenses, set budgets, and view reports.
Why it's good: Clean interface, beginner-friendly, allows categorizing by wallet (e.g., cash, GCash, bank).
Best for: Those who want structure and daily expense logging.

2. Money Tracker (Android & iOS)

What it does: Lets you log expenses quickly with a simple tap.
Why it's good: Super intuitive with colorful pie charts (perfect for visual learners).
Best for: Busy users who want a simple, no-frills interface.

Note: I’ve been using this 2018. Very easy to use.

1. Wallet by BudgetBakers (Android & iOS)

What it does: Tracks spending, links to bank accounts, and sets savings goals.
Why it's good: Offers rich visual reports and long-term insights even in the free version.
Best for: Users who want advanced features without getting overwhelmed.

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