📈 The Economy Is Rough. Here's How You Can Adjust Your Spending

Prices are up across the board. Gas is the biggest catalyst right now but it's not the only thing hitting your wallet. It's death by a thousand cuts and it compounds fast.

The real answer to inflation is always earning more. A higher income is the biggest weapon you have against rising costs and if you have the bandwidth to pursue that right now, prioritize it. But not everyone has that option immediately, so while you're working on the income side, here are small, tangible things you can do to stop the bleeding in the meantime.

In today’s edition, we’ll go over:

• 5 ways you can lessen your spending

TLDR;

The Bottom Line

Prices are up everywhere and the real fix is earning more. But while you're working on that, here are 5 things worth doing now: fix your food spending. Ask your employer for WFH days if possible. Use GCash and Maya promos before paying bills. And if you drive, get a fuel loyalty card.

The content

1. Use GCash and Maya promos before every bill payment.

Both apps run deals constantly.

For GCash: open the app and tap Gdeals and/or A+Rewards before any significant spend. The GCash Visa Card currently has deals like up to 20% off at select shops.

For Maya: go to the Deals section before paying bills. Maya regularly runs cashback promos on Meralco, water, and telco payments. Keep a balance there specifically for bills. When a promo is live, pay through Maya instead of your bank.

2. Negotiate a WFH setup with your employer.

If your role allows it, this is worth asking for. Even two or three days working from home a week cuts your costs significantly. Gas, commute, lunch out — it all goes down. Use the current economic climate as context when you bring it up. It's a legitimate conversation to have right now.

3. Audit your subscriptions.

You probably don't need Netflix and Disney+ running simultaneously. What I do: rotate. One month Netflix, pause, next month Disney+. Most streaming platforms have a pause option. Use it instead of cancelling and resubscribing.

I also dropped my postpaid WiFi and switched to Smart Prepaid 5G. The device cost ₱3,000+ upfront but my monthly bill went from ₱1,799 to ₱999  (close to ₱10,000 saved in a year). Check which provider has the best signal in your area first. I went with Smart because the coverage where I live is strong and their Magic Data and non-expiry load options make the math work.

4. Fix your food spending.

And no, I don’t mean hoarding canned goods or instant noodles to cut costs. That will end up costing you in the long run with hospital bills. 

Three things here that work together.

First, pick one grocery store and commit to its rewards card. Preferably near where you live. I do all my shopping at Robinsons and collect Go Rewards points on every purchase. 

Second, go to the wet market for all fresh produce. Grocery store markups on vegetables, fish, and meat run two to three times higher. Weekly wet market run for fresh produce, grocery only for packaged and dry goods.

Third, meal prep on Sundays and be intentional about snacking. Random 711 trips are small individually and damaging in aggregate. 

5. If you drive, sign up for a fuel loyalty card.

Shell Go+, Petron Value Card, and Caltex Star Club are all free to join. Every liter earns points redeemable for free fuel or discounts. Shell Go+ also works for retail shop purchases.

Final Thoughts

None of these individually will change your financial life. Done together and consistently though, you're looking at a few thousand pesos a month you're no longer spending unnecessarily.