Saving Tips for Young Professionals and Online Shoppers
Saving…
That is just so wrong to hear. For a young professional like myself, I like to exhaust my money on things that I like – shoes, apparels, accessories, makeups, headscarves, and so on. There are just too much stuff to buy and so little money to spend. Especially in today’s era where e-commerce and online shopping is in, I have really a hard time getting rid of the impulse buying.
My mother always tells me to save for the future. I just can’t. If there is something I like, it is almost always a go signal; unless, I don’t have enough money to spend of course. Don’t you just hate it when your means doesn’t permit your desires?
Even though it is kind of hard to master the art of frugality, let us discuss on how we can actually give it a try. I just hope this doesn’t just end up here in my blog. Lol
Save First then Spend the Rest
Srsly, every freaking financial person would tell you this. You have to save a portion of your income first before you spend. What is left is for your consumption for your basic needs plus other wants. Let’s say you have an income of 20,000 per month. You should allot a percentage of your income to your savings. For example, you decided to keep 25% of the 20,000 as your savings, thus you have at most 15,000 to consume for the whole month. The 5,000 goes into your savings account restricted for the future alone and not to be touched.
Distinguish your Needs and Wants
You must always distinguish your needs and wants. Needs are what you must have or you will end up dead. Wants, well, you can live without them but having them will make you happy or double your status, etc. Needs and wants are relative. I can need something, but for somebody else, it is just a want. Or somebody could need something, while it is just a want for me.
As an example, let us say your needs for the whole month – rent, food, transportation, communication, etc accounts for 10,000 of your 20,000 income. Then you have 5,000 to spend on your wants. This way you have kept something for yourself and bought want you want.
Wait for Discounts and Sales
Most of the online stores I know almost always have their monthly sales. Be it clearance or just the usual sale. For your wants, wait for them (unless, you are quite sure that they won’t put your item on sale). As for me, I am the type of person who will wait for the sale or who will lurk out for discount codes in the internet. They are always my shopping best friend.
If an item is listed with a price of Php1000, and I found a 20% code, then I have saved 200 from my purchase to use in another one using coupons. What a relief! :D More shopping to be done. hoho
Lately, I just found out that Nordstrom, one of the biggest clothing stores in the US, always give out coupon codes. And they’re available in the Philippines.
Nordstrom available in the Philippines?
Oh, good Heavens!
After this blogpost, I am going to hover to the Nordstrom.com to check what they have for me. I bet, heaps and heaps of amazingly discounted clothes and fashion items. Drools. If you are going to do the same as I will, then you have to check the Nordstrom promo codes before purchasing anything.
It’s high time we save up, girls – for more shopping experiences. I am serious. If we learn the art of frugality, then we have more money to spend on something else, and more money to save. Here’s to saving and shopping!
Toodles,
K
That is just so wrong to hear. For a young professional like myself, I like to exhaust my money on things that I like – shoes, apparels, accessories, makeups, headscarves, and so on. There are just too much stuff to buy and so little money to spend. Especially in today’s era where e-commerce and online shopping is in, I have really a hard time getting rid of the impulse buying.
My mother always tells me to save for the future. I just can’t. If there is something I like, it is almost always a go signal; unless, I don’t have enough money to spend of course. Don’t you just hate it when your means doesn’t permit your desires?
Even though it is kind of hard to master the art of frugality, let us discuss on how we can actually give it a try. I just hope this doesn’t just end up here in my blog. Lol
Save First then Spend the Rest
Srsly, every freaking financial person would tell you this. You have to save a portion of your income first before you spend. What is left is for your consumption for your basic needs plus other wants. Let’s say you have an income of 20,000 per month. You should allot a percentage of your income to your savings. For example, you decided to keep 25% of the 20,000 as your savings, thus you have at most 15,000 to consume for the whole month. The 5,000 goes into your savings account restricted for the future alone and not to be touched.
Distinguish your Needs and Wants
You must always distinguish your needs and wants. Needs are what you must have or you will end up dead. Wants, well, you can live without them but having them will make you happy or double your status, etc. Needs and wants are relative. I can need something, but for somebody else, it is just a want. Or somebody could need something, while it is just a want for me.
As an example, let us say your needs for the whole month – rent, food, transportation, communication, etc accounts for 10,000 of your 20,000 income. Then you have 5,000 to spend on your wants. This way you have kept something for yourself and bought want you want.
Wait for Discounts and Sales
Most of the online stores I know almost always have their monthly sales. Be it clearance or just the usual sale. For your wants, wait for them (unless, you are quite sure that they won’t put your item on sale). As for me, I am the type of person who will wait for the sale or who will lurk out for discount codes in the internet. They are always my shopping best friend.
If an item is listed with a price of Php1000, and I found a 20% code, then I have saved 200 from my purchase to use in another one using coupons. What a relief! :D More shopping to be done. hoho
Lately, I just found out that Nordstrom, one of the biggest clothing stores in the US, always give out coupon codes. And they’re available in the Philippines.
Nordstrom available in the Philippines?
Oh, good Heavens!
After this blogpost, I am going to hover to the Nordstrom.com to check what they have for me. I bet, heaps and heaps of amazingly discounted clothes and fashion items. Drools. If you are going to do the same as I will, then you have to check the Nordstrom promo codes before purchasing anything.
It’s high time we save up, girls – for more shopping experiences. I am serious. If we learn the art of frugality, then we have more money to spend on something else, and more money to save. Here’s to saving and shopping!
Toodles,
K
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