If you want to finally grow your savings this 2021, making a few lifestyle changes is necessary. "[Kasi minsan], ang problema ay hindi pera," notes Chinkee Tan—a wealth coach who has authored books like Till Debt Do Us Part: Practical Steps To Financial Freedom and Diary of a Pulubi—in one of his Youtube entries. "Ang problema [ay ang lifestyle ng] humahawak ng pera,” he explained. "Your way of living will dictate your way of spending."
One of the simplest pieces of advice he shared in his vlog is to pay in cash. This way, "you cannot spend the money that you don’t have. Pag wala kang cash, hindi ka puwedeng bumili so it also controls your spending." While a credit card is certainly helpful at times, it gives you an opportunity to spend beyond your means. (Check out these five instances it's better to pay in cash than to use your credit card.)
In the same vlog, the financial coach points out a common habit many of us have: Always buying on impulse! If a purchase can wait, set it aside until you have the budget for it.
Watch Chinkee’s video to learn more about the lifestyle changes you can make this 2021: