1) Monitor where your money is going:

Before you can create a monthly/weekly budget, you first have to check where and what you spend
money on. Pay close attention to everything you or any member of your family buy. Keep receipts if you
have to. Divide the receipts into categories like housing, clothing, groceries, gas bills, phone bills, and
others.

2) Save before spending:

Have a specific amount that you send to a savings account each paycheck. Out of sight, out of mind. The
remaining money after saving can then be spent on expenses. Your savings also will come in handy when
some emergency comes up. Saving requires discipline but having a goal in mind makes the job easier.

3) Pay off your debts:

 If you wish to stick to your budget, make a list of your debts and start making efforts towards paying
them off. Start by paying off the ones with high interest, especially debts from credit cards and loans.
Create a plan at the beginning of every month and prioritize your debts. 

4) Create a reasonable budget:

Set a budget for each need and let it be something you and every member of your family can work
towards. This is where the input of everyone matters. Be sure to involve everyone and get their opinion
when creating your family’s budget. This way, you can be sure that everyone would keep to it.

5) A budget for only important things:

Cut off all unnecessary subscriptions like magazine subscriptions, cable bills, gym membership, and phone
bills. You might need to start cooking more and eating out less. There might be times when you need to
save up on gas by staying in or walking. The key is to be moderate in spending.

6) Create a list when shopping:

When shopping for groceries, create a list that will guide you when shopping. Avoid buying anything that
is not on the list. This will ensure you are buying only the most important things.

7) Set goals and work towards them:

Setting goals can be a source of motivation for maintaining a budget. At the beginning of every year or
month, write down your goals, and start working towards them. You could set goals by saving for a
holiday or getting yourself a gift.

8) Get additional income:

It might come to that point where you realize that your income is just not enough. This is why it is
imperative to get a side hustle. Aside from your main job, get an extra job that could fetch you additional
income. Search online and check areas you are interested in. Some of the most paying online jobs include
freelance writing, editing, proofreading, graphic designing, photography, among others. 

9) Cut down additional expenses:

Budgeting on a low income means either earning more income and/or cutting down unnecessary
expenses. Before buying anything, ask yourself if you need that item. If you can live fine without it, then
maybe it is not worth the price. A great method to cut expenses is paying by the hour not cost. Divide the
price of a particular item into hours and see if you make that price when you work by the hour. 

10) Compare prices and stick to the lowest ones:

In your attempt to cut prices, don’t buy inferior products as you might end up having to spend more than
the original price in the long run. Search online for stores with the best and most affordable products.

11) Budget for gifts:

Start by budgeting early and set a specific amount that will be used for gifts only.

12) Don’t lease a car:

Nothing eats up money quite like a car that isn’t even yours. Unless you plan on putting an excessive
amount of mileage onto a leased vehicle, it makes little sense making monthly payments that are higher
than making car payments to own it. Check online for affordable and durable cars selling for cash. 

13) Look for free, fun activities:

It is normal for people to want to have fun. However, if your way of having fun is costing you a lot and
creating a big dent in your budget, then it might be time to reconsider.  You don’t have to spend so much,
and there are certain activities you can do for free.

14) Have an emergency fund:

An emergency fund is when money put away for unexpected and urgent occurrences. A good rule of
thumb is to have 3 to 6 months of your income saved up at any given time. This should be different from
your normal savings. It is, very important to set a certain amount aside monthly for times of emergency.
It could be for a hospital bill or some unexpected damage. Also, your emergency fund should be kept into
an account that you do not have easy access to.

15) Apply the 50/30/20 rule:

A great way to help you create an effective budgeting plan is by using the 50/30/20 budgeting method.
This means 50% of your income goes into your monthly basic needs, 30% goes into your wants, and the
remaining 20% goes into your monthly savings. To do this, start by deducting your income tax and
business expenses.

16) Budget using cash and envelopes:

This means you simply withdraw the amount you plan to spend monthly and keep them in an envelope.
You can also divide them into categories. This way, you know that once the money finishes, spending is
over.

17) Do automatic savings:

Open a savings account that automatically withdraws money at the end of every month. You can also
have your employer remove a certain amount from your income to be transferred to a savings account
on your behalf. This way, you don’t have to struggle with choosing whether to save a particular month or
not.

18) Save for short and long term purposes:

Savings can be for different purposes.  This all depends on your personal goals. Savings can be for short
term reasons such as saving for a car or holiday. It could also be long term like a retirement account. It is
never too early to start saving for retirement. Start early to help you accumulate interest on your savings
in the long run.

19) Stick to your budget:

The hardest part of creating a budget is sticking to it. It is possible to get busy and spend outside your
budget. Each week, check your expenses to be sure you are keeping to your budget.

20)Save on transportation.
 Another expensive item is transportation. You can save on transportation costs by biking or walking to
work as often as possible, carpooling, or using public transportation instead of driving. 

21)Set limits on eating out

You should also try to limit the amount of times you eat out per week. Eating out is one of the many ways
we waste our money. It is fun and easy to eat out, but it is killing your finances.

22.)Have a Positive Money Mindset

It’s mind over matter. No matter how much you earn, a positive money mindset will keep you to stick
with financial discipline.

23.)Always pay the bills and loans on time

Experiencing cut electricity and water supplies degrades your self-worth. You will also be charged with
reconnection fees. Late payment fee applies and this only increases your expenses.

24.)Buy in bulk
“Tingi-tingi” makes you spend more little by little. You will realize that if you buy in bulk you can actually
save more. Also, shop in places which offer discounts if you buy in bulk. 

25.) Earn more

If you think that your salary is still not enough to save up despite the saving tips above, then why not add
another source of income? There are other ways to earn even with low capital or minimum effort. Sari-
sari store can be put up even with low capital. Start by selling cigarettes, eggs, instant noodles, and other
staple stuff your neighborhood usually buy. If you have the resources, have a freelance online job as an
encoder, a language tutor, a writer or an artist. You can also sell cellphone prepaid loads at home and at
your workplace.

26.)Do not deprive yourself

Allot a small budget to treat yourself at least once a month. Too much self-deprivation may stress you
out. There are times when you’ll feel down when you don’t get the things you used to enjoy.
You may not get them as much as you used to but do not totally take it out of your life if it can take away
your stress. 

27.)Learn basic skills

Save money by learning home repairs and maintenance. There is no need to pay the plumber if you can
handle the simple clogged sinks or toilet. These skills can also be used as another source of income. Learn
skills from an expert you personally know, from video tutorials or from blogs.

28)Involve your family

Your income is your family’s financial pool. Our money is not our own to spend out of whim. We give
money to our parents for household needs and their personal wants, we give money for our sibling’s
education, and we even share in our pamangkin’s basic needs. This is the typical working Filipino’s life.
Sticking to the budget is a family effort. You may have a budget since it is your income. However, you
need to involve your family to stick with it. Encourage each other as following a budget may not be easy
for everyone.