NU 2-Spending Habits by ABG

NU12 #2

NEW SPENDING HABITS

ARLENE BUAN-GERONA

Having been married for a year now and being a new mum, has brought several changes in every aspect of my life including my personal financial management; my spending habits have changed in so many ways…

To begin with, I decided to cut my other credit cards. I figured out that I only need 2 cards; one card for my personal expenses and my daughter's, and the other card for household expenses. Maintaining two cards enable me to easily track all the expenses, and I am able to monitor the level of spending I have for personal and household needs. I started to allocate a monthly shopping budget for my daughter and myself. J

I confessed that I used to follow all the sale events of almost all the shopping malls in the Metro, but later I realized that shopping during sale season is causing me more because I get to buy things that I don't really need, but I end up buying anyway just because they're on sale.  My paradigm on Sale has shifted to a wiser and practical attitude. Last week, I went to S&R for some grocery shopping, there was a huge sale going on, nice deals are being offered! I am proud that I am able to stick with my grocery list and ended up buying only the things we need at home. Getting the items on my list at a lower price---that's SALE!

Grocery shopping constitutes big chunk of our household budget. It's becoming my training ground on how to be frugal. J These are just some of the tips I figured out on my own:

·        Shop with a grocery list: I make an inventory of the items left in the pantry and fridge and come up with a list.

·       Prepare a Weekly Menu: I plan for a menu good for at least a week. It allows me to have a complete list of ingredients I need, and this way I am able to maximize every ingredient. I shop once a week to save on gas. J

·        Look for "Specials": Every grocery store has special lane/corner where promos and discounts are being offered. There are also promos by credit card companies. I update myself with all these promos! J

·       I buy in bulk for common items: I do computation and buy in bulk for items that we use so often like shampoo, toothpaste, laundry powder, some seasonings, etc. I look for special deals.

·        Try some local brands: I look for some alternative brands which are more affordable. Pigeon baby soap versus Smart soap gives me 40% savings.

 Lastly, I keep my receipts and record the prices of the common household items. I keep an excel file of the pricelist for each store and compare which store offers good deals.:)