IT’S Friday and it’s the 25th day of the month. For those living paycheck-to-paycheck and whose payday falls on the 15th and 30th of the month, today feels like forever.
And have you checked your social media account? It’s Black Friday sale and you are itching to click that buy button for your favorite item on sale.
Here are the some tips for you to survive “Petsa de Peligro:”
- Visualize your money is flowing
Yes, money is energy. Sometimes, you are focused on things you don’t have that you forgot that you have things you just spent on or just spent for the last pay days. Savor that item or that experience and you will claim victory. Yes, I was able to afford that!
So close your eyes and take a deep breath. Then repeat to yourself, “I am enough. Money flows through me.”
2. Look at your finances again
Write down your expenses down to the last centavo. Maybe you’ve been drinking a lot of milk teas, or you have been swiping your credit card too much in the last months that you forgot. Or maybe, inflation really kicked in and suddenly, your peso seemed to have eviscerated from your wallet.
If you can’t measure it, you can’t manage it. So if you haven’t started taking down notes of your expenses, you will always find yourself struggling the last few miles before your next paycheck.
3. Apply the 5-second rule
You wanted to buy an item on sale, or you wanted to take a Grab car to go to work. Take a deep breath and count up to five. Think. Do I need it? Or can I live without it? If the answer is yes, then go ahead. But if the answer is no, quickly turn away and say, “I am strong. I rebuke you, Satan!” Hahaha
4. Leave your credit card or debit card behind
If you experience having a no-money drama moment, it’s time to literally and figuratively cut your credit card. If your e-wallet app or mobile bank is your vehicle, uninstall them from your mobile phone. Choose physical cash in all your transactions. Ease of transaction may be the way for convenience. But try to experience pain first, so you can gain later.
5. If you are not dying, do not borrow money.
Even if it offers no-zero interest installment rate, don’t take that bait. That big purchase was just offered in reverse for you to think of it as a small purchase. The mere fact that you are now in the red, means there’s a big chance you can’t afford it in the next payday.
But if you are in a position where you are faced with a medical emergency or tuition payment deadline, talk to your human resource payroll officer if you can advance your salary. Try to remember if you have lent money to friends or families that haven’t paid you yet. Sell your property or pawn your gadgets. If everything else fails, that’s the only time you start borrowing money from friends or relatives, or look for loans that offer the lowest interest rate and lowest penalty or surcharges for missed payments. Start with taking a salary loan at SSS, GSIS or Pag-ibig first, then, with your community cooperative (if you are a member). Maxing out your credit cards is the last resort.
6. Get another source of income
Think of ways to earn additional income. It could be selling some things in your house. Or you can get another job or offer services to your family, friend or acquaintance.
7. Hold that thought and remember the pain
Remember how it is to struggle living through the next paycheck. Remember why you are working so hard, your goals and dreams. To borrow the coffee advertisement line, ask yourself, “Para kanino ka bumabangon?”
Motivate yourself to do better. The next time you get your salary, meticulously monitor every centavo spent. You can still enjoy and splurge; t’s your money after all. But save at least 10 percent of your salary and invest it if you can. Just trust yourself.
Feeling down? Here’s some funny memes of Petsa de Peligro: