7 Money Tips No One Follows But Should

For us Pinoys, every centavo counts. There would come a time that we’d need to sacrifice a few wants in order to make ends meet, in order to prioritize the needs. There is nothing wrong with that, as the ever-increasing prices would dictate that we should live according to our means. However, there are countless tips, “life hacks” to be exact, which would not only enable us to leave a few amounts for our savings, it would also allow us to spend a few for ourselves and non-frequent relaxations times:

1. Keep every spare amount.

It doesn’t matter if it’s just a bit of loose change or a few 20 Peso bills, if you’re not going to use it for now then add it to your savings. What many fail to realize is, no matter how small your current savings are, if it accumulates, you’ll be glad to find thousands in your account sooner than later. Let your savings grow by keeping your loose change aside instead of spending them compulsively.

2. Manage your financials the same way that you’d manage a business.

No one wants their business to fail; hence, they would do anything in their power to maintain its continuous growth and income. The same thing should be implemented towards your savings. Making sure that your account balance doesn’t reach zero would ensure that you’d still have a well-maintained account to deposit to after every payday. If you do not have a business, the same principle still applies, just think of it as a learning curve for when you finally decide to have a venture in the future.

3. Make saving a habit.

It’s tough, especially if you have friends who’d usually invite you to those late night parties and dinners every payday, however, that doesn’t mean that you do not have the option to say no. If they really are your friends, they would understand, and if you really are motivated to save, then by all means, respectfully refuse any expenditure as you go along the way. It may take a while for you to adjust to this “saving” lifestyle, but the payback is much more rewarding than your sacrifice.

4. Never spend impulsively.

This is a mistake that a majority of us would commit. Temptation is everywhere, a new cellphone model, a brand new car in the market, a newly opened ramen house, etc. It takes great strength to pull away from temptations; however, that particular task is eased up by a particular motivation, to save. Remember, these things, no matter how new, innovative, or delicious they are, are only temporary, and the needs must always come before the wants. The need to save for future expenditures should always be kept in mind in order to avoid spending your savings on an impulse. Choose wisely, spend wisely.

5. Consider undergoing a lifestyle change.

For some, lifestyle changes would only equate to expenditures, however, that is just a common misconception, as you may also undergo lifestyle changes in order to effectively save up money. The food you eat, the clothes you buy, and even your way of commuting to work may very well eat up a majority of your earnings, hence, why not choose a much affordable daily meal package perhaps? Or a cheaper, yet, still good quality of clothing brand? Or even a faster, yet, cheaper commuting alternative? The possibilities are endless. The amount that you’d be able to save with these lifestyle changes would ensure that you’d still have some left for future expenses.

6. Be aware of rampant scams and money-making schemes.

Nothing can be more damaging to your personal budget than being involved in a money scam. There are many to mention, however, their “procedures” are all the same: “Invest some cash in our group and we’ll double that amount after a few months.” This scheme has been around for a long time and yet, many still fall for the same old trick. This may be due to the fact that they mostly operate online and are usually made up of people who are well-versed in twisting financial terms. Don’t be fooled, avoid them at all cost, and instead, find other means to use your money wisely.

7. Investing on Microinsurance.

One way of wisely spending your money would be to invest on microinsurance. It’s your choice, house insurance, life insurance, livelihood insurance, car insurance, etc. You may ask, “Wouldn’t it cost me much to invest on microinsurance packages? Why not just save the money instead?” Well, that may sound like a logical point at first, until you realize that house and car damages would cost a great amount to fix, the same goes with hospital bills as well. Microinsurance packages would actually ensure that you may either be given a big discount or a free pass from all of the sudden expenditures (depending on your insurance coverage). Aside from that, you’d never have to worry about emergency finances anymore, as insurances would cover that as well. Be ready, be prepared, and invest on microinsurance.

With all of those in mind, you may definitely want to weigh in your options, analyzing which establishment would be best for availing a microinsurance premium and coverage. Look no further than with Cebuana Lhuiller’s Microinsurance Services, affordable insurance products to help Filipinos avail of financial services and privileges that higher-income earners have easy access to, with innovative microinsurance products and services that promise to minimize impact of distress and misfortune on one’s financial position. Feel free to visit your nearest branch for more information.

Image Source: https://www.pexels.com/photo/money-pink-coins-pig-9660/

CORPORATE AGENT PARTNERS

  • ACTION.ABLE, INC.
  • ALL ACCESS GATEWAY INC.
  • ANTRECCO (AGUSAN DEL NORTE TEACHERS, RETIREES, EMPLOYEES & COMMUNITY COOPERATIVE)
  • ACM VIP
  • ALL CASH
  • AGRILIFE/ AGRIVET
  • ASENSO PINOY STORE, INC. (EASY DAY SHOP)
  • AVICOM ENTERPRISES
  • AYALA ALABANG VILLAGE ASSOCIATION
  • BAUG CARP MULTI PURPOSE COOPERATIVE
  • BAGUIO BENGUET COOP
  • CARD BANK INC
  • CARD MRI RIZAL BANK INC
  • CARD SME BANK
  • CARITAS BANCO NG MASA, INC.
  • CEBU PEOPLE’S MULTIPURPOSE COOPERATIVE
  • CIS BAYAD CENTER, INC
  • COOPERATIVE BANK OF BOHOL, INC
  • COUNTRY BUILDERS BANK
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • AEON CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (VIA ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (VIA ECPAY)
  • ALLIANZ PNB LIFE INSURANCE INC.
  • ALPHA FUND SAVINGS & CREDIT COOPERATIVE (VIA ECPAY)
  • AMADEO WATER DISTRICT (VIA ECPAY)
  • AMYA POLYTECHNIC COLLEGE, INC. AND FINANCING CORPORATION (LENDPINOY)
  • ANGAT WATER DISTRICT (VIA ECPAY)
  • ANGELES ELECTRIC COMPANY ANGELICUM SCHOOL , INC. ILOILO CITY (VIA ECPAY)
  • ANJELMAN REAL ESTATE LEASING
  • ANTIQUE ELECTRIC COOP, INC ANTRECCO (BILLS PAYMENT)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (via ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (via ECPAY)
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

List of Accepted Government/ Valid IDs

  • Passport
  • Driver’s License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter’s ID
  • Philippine Identification (PhilID) card
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) ID
  • Senior Citizen’s ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Alien Certification of Registration (ACR)
  • Barangay Certificate or ID (with picture and signature)
  • Birth Certificate (applicable to minors only)
  • Firearm License
  • Immigrant Certificate of Registration
  • Marriage License
  • National Council for the Welfare of Disabled Persons
  • New TIN ID
  • OWWA ID
  • Student ID
  • Alien Certification of Registration (ACR) / Immigrant Certificate of Registration
  • Government Office or Government Owned and Controlled Corporations (GOCC) ID (e.g. AFP ID, HDMF (Pag-ibig Fund) ID, etc.
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines ID (IBP)
  • Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP (Bangko Sentral ng Pilipinas), SEC (Securities and Exchange Commission) or IC (Insurance Commission)

IDs Accepted

As required by Bangko Sentral ng Pilipinas (BSP), clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least ONE (1) valid photo-bearing identification document issued by an official authority. For our clients’ convenience, Cebuana no longer requires submission of the photocopied ID. IDs are captured using a webcam in all branches. Clients are also required to submit an updated photo and other relevant information whenever the need for it arises.

Forms of identification accepted are the following;

Pawn Accepted IDs
1. Passport
2. Driver’s License
3. Professional Regulation Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Philippine Identification (PhilID) card
9. Social Security System (SSS) Card / Unified Multi-Purpose ID (UMID)
10. Barangay Certification
11. Government Service Insurance System (GSIS) e-Card
12. Senior Citizen Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. OFW ID
15. Seaman’s Book
16. Alien Certification of Registration/Immigrant Certificate of Registration (for foreigners)
17. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID)
18. Home Development Mutual Fund (HDMF ID)
19. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
20. Department of Social Welfare and Development (DSWD) Certification
21. Integrated Bar of the Philippines (IBP) ID
22. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission or Insurance Commission
23. ID issued by the National Council on Disability Affairs (NCDA)