Sunday, 21 June 2015

How to save 628k PHP in a year?

I was shocked by my phone bills, I received a notification from Etisalat that I used up my flexible minutes and 1gb internet data and total bill of 1555 AED equivalent to almost 15k PHP.

This post was inspired by that morning  event, and I would like to share tips on how to save a few bucks from everyday expenses thru substitution.

First, Lessen eating on restaurants.
The truth 3 or 4 times a week, my family schedule eating out, I will not be able to change this habit because this is our family's  weekly bonding time. Instead, I cut on my daily lunch, I don't packed for lunch but UAE's expensive canteens and restaurants push me. I saved 25 AED a day equivalent to 550 AED a month from packing daily lunch meal.


Second, Increase transportation costs and save from expensive housing.
The rental in Dubai hit the roof ceiling. I have a housing allowance of 6000AED but I decided to take it as a cash and look for my own accommodation. I live outside Dubai to save 50% of rental and go for a car lift everyday which saves me around 3k AED and I have a bigger space and privacy for my family.

Third, 3 in 1 is better than starbucks. 
Saving 18 AED everyday. The taste of Starbucks better than 3 in 1 but not on the wallet. Total savings of 396 AED monthly.

Fourth, Limit the GB and request for flexible minutes. 
Ask your mobile operator to set a limit of data usage and flexible minutes for local and international calls. Savings of 250 AED monthly.


Fifth, Electricity and utilities.
This one, I need to find a way but turning off lights and unplugging appliances once you leave the house will contribute savings of at least 100 AED a month.

Total savings;
1. Eating Out - 550
2. Housing     - 3000
3. Coffee        - 396
4. Mobile        - 250
5. Electric bills - 100

Monthly savings- 4,296 AED
Yearly savings   - 51,552 AED 
Total in PHP - 628,934 PHP (exchange rate used 12.20)

This is my 7th city to live in the past 10 years from Manila, Singapore, London, Rome, Oslo, Bergen,and Dubai, I learned to adapt myself and prepare for the future of my family. I hope for every OFWs to do the same, our life abroad is not forever. "Walang Forever sa Pagtatrabaho".

How about you? Do you have savings technique? Feel free to share and comment on this blog.

Sincerely yours,

Jonathan Ruiz 
Newbie Mentor 
P.S. For newbie readers, thank you for amazing feedbacks and encouraging comments. "Mabuhay po Kayo". 

For those interested for earning extra 5K monthly thru blogging, pls. join me on this link http://www.newbie.ph/p/earn-extra-5k-php-thru-blogging.html?m=0


No comments:

Post a Comment

Savings Plan for Financial Freedom

I’m reading the book of Robert Kiyosaki, Guide to investing and his elaborating the goals of every individuals accordingly in this order: ...