Living alone means to shoulder all the expenses alone too. The inflation rate in the country is no joke, as reported by Philippine Statistics Authority (PSA), the inflation rate in December 2022 which is 8.1 % climbed up to 8.7 % last month, January 2023.
Well, there are two ways you can fight the inflation rate: number one is to reduce expenses, and number two is to increase income. But in this article, we are focusing on reducing expenses. You might not know about cost-cutting strategies, or you might not just don’t have the drive to execute it yet. Nevertheless, here are 6 cost-cutting strategies you might find beneficial if you are currently living alone.
Rent is presumably the greatest eater of your monthly income. How much do you spend on the monthly basis for your rent? Like for example, if your monthly rent is P10,000. Perhaps, you could look for a cheaper apartment for P5,000. An apartment for that price is already pretty decent, right? So, if you found an apartment for P5,000 a month, that’s P5,000×12 months. You will save up to P60,000 for one year.
Grab? Angkas? P200-P400 for transportation each day? Imagine, spending P300 a day for a month (20days) costs you P6,000×12 months, you are expensing for transportation for P72,000 per year. Perhaps, if your worksite is near at your house, you can opt for an e-bike or bike, or if it’s farther, you can just buy a motorcycle, both for around P30,000-P40,000. So, P72,000-P40,000, you will save up to P30,000 in a year.
Skip to content