4 Steps To Save If You Fall In The P15k-P17k Income Bracket

We’ve all seen the various viral Facebook posts of people and how they were able to save a huge amount of money.

When they become viral, some people are quick to congratulate them, but others couldn’t help but question how they did it.

Let’s face it, it is hard to save money if you don’t have money in the first place, right? This is true especially if you are one of those who falls in the P15k-17k a month income bracket.


Here are some tips on how to start saving.

1. List your budget

The first thing you have to do is to list all your expenses. Write all your expenses and your income. If you are spending more than what you are earning then you have to change something about your lifestyle.

2. Determine your financial goals

Aside from your expenses and income, you can also write your financial goals, this is a great way to remain motivated all throughout your spending journey.

See: How To Complete Your Emergency Fund

3. Evaluate your expenses

Now that you have a list of your expenses, it is time to evaluate them. Are there any of those expenses that you can downgrade or stop? Evaluate if you really need it. An example of this is your cable TV, do you really need to pay for a cable subscription when you are in the office the whole day? Or your gym membership, do you really need that even if you are not able to use it regularly? Think about the things that you can downgrade also, like your smartphone plan, do you really need the expensive plan?

4. Change your spending habits

After the unnecessary expenses are cut, what’s left is how you spend your money. Do you splurge on designer bags and clothes even if you’re not able to use it all? Manage your habits if you see that it is only causing you to spend more. If you always spend a lot of money eating out, you can also pack your own baon.

See: Ways To Properly Track Your Expenses

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