PARENTS often talk about how when they were kids, their daily allowance used to be P20, and that was enough for the whole day. With this amount, they could get to school, buy lunch and snacks, and get home–all with money to spare. 

But with the prices of goods in the Philippines constantly rising nowadays, that era is long gone. 

Some students now struggle to make even P500 stretch to cover all their daily expenses. Some even have to decide whether to spend their money on food or not because they might not have enough left for their fare home if they do.

As students face this challenge, it’s important to learn how to be strategic with one’s money. 

So what exactly are students spending their money on, and how are they managing to save it?

Baon breakdown

We interviewed several students in Metro Manila and we found that the amount they spend in a day ranges from P150 to P800. 

Here’s a breakdown of how much each student usually spends and what they spend it on:

Francesca Oledan, 4th Year – University of Santo Tomas

Amount spent in a day:  P500 

Breakdown: 

• Food:  P200 
• Transportation: P300 

Roland Anthony De Leon, 4th Year – Far Eastern University Tech

Amount spent in a day: 150 PHP

Breakdown: 

• Transportation: P22 
• Brunch: P80 
• Dinner: P50 

Gian Lorenzo Lee, 4th Year – University of Santo Tomas

Amount spent in a day: P370 

Breakdown: 

• Transportation: P170 
• Food and drinks: P200 

Ikay Buenaventura, 4th Year – iAcademy

Amount spent in a day: P600 to P900 

Breakdown:

• Joyride fare to school: P150
• Lunch: P150 
• Iced Coffee: P200 
• Joyride fare home: P200 
• Food and drinks: P200 

Miguel Alfonso Javier, 4th Year – University of Santo Tomas

Amount spent in a day: P300 

Breakdown: 

• Starbucks: P185 
• Vices: P30-P50 
• Mango Graham drink: P65 

Is their allowance enough?

For some of these students, what they receive from their parents is more than enough to sustain them throughout the day. 

“It’s more than enough because I’m trying to lose weight,” said De Leon, who receives P2,200 every five days from his parents.

“Also, I love to save my allowance, so I save more than I spend,” he added 

Others, however, struggle to make their allowance last to fulfill all of their day-to-day needs. 

Buenaventura, who receives P500 from their mother every day, has to spend over P600 to P800 per day because of the difficulties of commuting. 

“I don’t think it’s enough, considering how much harder it’s become to commute,” they said.

Most of the time, they opt to take motorcycle taxis through Joyride or Angkas when going home to avoid hassle.  

Melas have also become more expensive, they said.

“Plus food and drinks aren’t as cheap as before, and mas magastos since I get really hungry after a tiring day,” they said. 

Their tipid tips

Life is hard, especially for students struggling to make ends meet. But these students have found ways to spend their money wisely and to make it last.  

Here is what they have learned:

Francesca: Check the prices, always. You never know if a cheaper product with the same effectiveness or value is also available, lalo na if there are discounts. 

Leave your excess money at home so you can avoid spending it.

Split the bill. If may similar interests kayo ng friends mo on what food to buy, this might come in handy. 

Gian: In terms of transportation, jeep and FX na talaga pinakamaganda, so stick to that. 

In terms of food, look for quality meals with affordable prices, lalo na if maikli lang vacant [period] mo between classes.

Ikay: Consider bringing a water bottle para you don’t have to buy water or drinks outside! Try to bring pre-made coffee and snacks instead of ordering out.

If you’re like me, who feels lazy and hassled by the commute, try to do the 50/50 method where you choose to either Joyride on the way to school or Joyride on the way home.

Miguel: What I’ve learned ever since I handled my own finances was that impulse buying burned through my savings the most. So when I get the urge to buy something, I sleep on it for a day or two to see if I really want it. Then I ask myself if it’s sustainable, if the item’s of quality, or if it goes well with my overall style.

Recording my finances din helps me see if I’ve exceeded my monthly limit for non-essential purchases, and [helps me] keep track of where my money goes.