Say Goodbye To Petsa de Peligro Problems With These 8 Tips
How To Survive The Petsa De Peligro
If you’re a part of the Philippine workforce, you are probably here the term ‘petsa de peligro’ at least twice a month. It is about those moments when the pay day is almost reachable, but you need to wait for a few more days to get those needed zeros to your bank account. Most Filipinos fall into this practice because most middle-class to lower-class Filipinos live from paycheck to paycheck and usually spend beyond their means right after they receive their wages.
So, how can you escape this vicious cycle? Don’t worry, we’re here to help. Here are some tried and tested tips to help you survive and beat the struggles of petsa de peligro.
- Put your savings first.
According to Warren Buffet, “Do not save what is left after spending, but spend what is left after saving.” A devastating problem that many of us have is that we tend to splurge and reward ourselves first and think of the future after. This is not the way to go because it creates this element of irresponsibility and you might tend to lose control. Always set a specific amount for that you would save and stick to it. Then, divide what’s left for your expenses and your ‘wants’.
- Practice frugality and cut back on unnecessary expenses.
Because of online shopping, it can be hard to monitor how much we spend for things we don’t need. Sometimes you think that you are on track, but you might just have failed in remembering everything you spend on. First things first, check out your recurring subscriptions and weigh down how much you use them. If you don’t really touch these things or if you can survive on the free versions, cancel them and get some extra cash.
- Make your payments in cash.
It might be a mind training thing, but the brain feels the loss more when you let go of actual money. Plus, by sticking with cash alone, you will be able to limit yourself on your purchases, especially knowing the exact amount you have to work with. The credit card is not your enemy – but it is better to use it strategically. Use it for making large purchases, maximizing rewards and rebates, and choosing better installment plans. And, whenever you make your purchase, ensure that you stick to making your payments on time and stay away from unnecessary fees.
- Make use of public transport, ride a bike, or walk!
Though they are more convenient, we can’t deny that using ride sharing apps are more expensive methods of traveling. What more to using your own vehicle to drive around – you have to think about gas expenses, toll, and parking! If you have been noticing that your funds get short every few weeks, these modern transport options might be one of the culprits. What you can try out is to make use of public transportation. If you can’t do it every day, at least try to make a sacrifice at least two to three times a week. Moreover, you can go the healthier route by riding a bike or walking! The savings you can get will amaze you – and your body can become more fit, too.
- If you have to take in a loan, do it wisely and responsibly.
Sometimes, the ‘peligro’ in ‘petsa de peligro’ happens because of emergencies and unavoidable circumstances. In times like this, there’s no need to beat yourself up. You can try borrowing funds from family and friends for a quicker experience. But, you can also opt to take out a quick loan from alternative financing options like Blend.ph. With a P2P platform like Blend.ph, all you have to do is register, complete your application, and you can get results within 48 hours. Processing is much easier, the interest rates are more controllable, and it will help you get back on your feet on the road to better financial management.
With one-click purchases at your fingertips with most shopping apps, it can be too easy to place orders left and right. So, here’s what you can do. You can add the items to your cart and leave them there. Wait for a few days to think things through and if you really feel a pull into making your purchase, and it is a sign to stick with making your order.
- Try staying in and avoid eating out.
Life can be hard and stressful, so the tendency is to be tempted to eat out and snack your heart out. However, if you are on a budget, eating out is never a good choice. What you can do is to start prepping your meals at home and embrace the concept of ‘baon’. There are many ways to spruce up a healthy meal with just a few pesos, especially here in the Philippines where we have fruits and vegetables in abundance.
- Find a side hustle.
In today’s modern world, having a sole source of income is no longer sustainable. With prices being unpredictable left and right, you have to be ready with whatever happens. So, review your skills and try to find other ways to generate income during your free time. If you want, you can also sell your unwanted stuff online. You can do so by posting on Facebook Marketplace for free, or with Shopee, Lazada, and other similar apps with a minimal transaction fee! By taking this seriously, you can generate additional income that will ease your worries away and help you live a more comfortable life.
Don’t let the ‘petsa de peligro’ become a lifetime habit. Don’t allow yourself to be a mouse running in its wheel with no means to escape. Start by being healthier and smarter habits to improve the way you manage your finances. We swear by it, these tips can help you become a better version of yourself and make the most of your life!