Thursday, 2 April 2015


“Kuripot” meaning tightwad or someone who refuse to spend money for unnecessary things. Filipinos are very familiar with the use of this term but the problem is the application in our everyday living especially if you are receiving a pretty good amount of salary. In UAE, you will be tempted to buy electronic gadgets because SHARAF DG  and EROS are having their monthly  sale and promotions.

We need to understand the Kuripot Tips to have an excess money for our investment and pension funds. Kuripot tips are easy to follow but  takes  time to implement. Dedication and commitments  are needed to be successful in application of Kuripot tips.

Aside from growing our income thru job promotions or having a sideline business,  or looking  at different multiple income streams available on your area. Kuripot tips  will help you cut your  cost without tightening your monthly budget.

Let’s start taking small steps at a time thru Kuripot Tips;

1.      Live below your means. Don’t buy unnecessary items even if you have extra money at the end of month. Buying a car on loan instead of taking advantage of company transportation is a big mistake. Oil price is decreasing but car maintenance, repairs and insurance are part of your fixed costs.

Few questions to answer
Are you living below your means?   Are you buying things or spend  on things that you don’t need?

 2.      Keep track of your expenses.

Do you know where your Christmas bonus spent last year?
How about the overtime payment you received last month?
Then if your answer is “I cannot remember” then start today tracking your expenses, know those expenses that can be reduce like your leisure time such as eating at expensive restaurants and bar hopping.

3.      Where is the 20% of your income goes monthly?

Are you able to invest the 20% of your income monthly? Maybe, at this moment you cannot do that because of  mortgages, personal loans, credit card debts etc. Start today even a small amount.

4.       Take the bus or train.

If you are living abroad or an OFW, (Metro is affordable), the trend is Filipinos could easily afford cars because of easy approval of loans by the local bank. If you need it for work then buy but check the interest you will be paying. If you don’t need it then take the bus or train, it will saved you a lot from insurance, repairs and maintenance expenses.

 5. Impulse buying. 

If you will be going to a supermarket, make your buy list. Check your budget allowance. Don’t go hungry because  hunger could add up to buy more stuff that you don’t need.

6.     Cut on food costs.

Don’t eat out but instead eat at home. Vegetables and fruits should be included on your table. Healthy and cheaper . You can treat your family once in a  while on their favorite restaurant.

7.  Watching movies

There are free movie site that you could access or those in promotions. Itunes are offering for rent movies. It will save you transportation to cinema and pop corn. You can hire movies for free from local library.

8.    Take your own lunch.

You could wake up 30 minutes earlier in the morning to prepare for your lunch instead of buying in the canteen (saved at least 20 AED). You also know that it is freshly made because sometimes the food offered on the canteen are frozen foods.

9.     Book your Holiday Early

If you are planning to take a holiday, 6 months earlier will be cheaper than booking 3 months before the flight. Booking on Tuesday and Thursday flights are cheaper on other days. If you need a hotel, I highly recommend to look at Air Bnb:

10.  Sale or 50% off

Of course, you are going to buy those on sale but the truth you did not save but instead you spent. Before buying something, asks yourself, do I really need this thing? If not then don’t buy it.

As per Will Smith quote, “Too many people are buying things they can't afford, with money that they don't have... to impress people that they don't like!"
 It’s time for you to save and be “kuripot” for your retirement.

Sincerely yours,

Jonathan Ruiz


1 comment:

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