Before you buy anything, do some internet research!
In the previous article on How to Spend Less on Gas, MoneySmarts blogger Salve Duplito left this comment:
someone once demo’ed to me a gadget put on cars to reduce gas expenses. do you think that’s safe and effective?
While I don’t know exactly what kind of gadget she was referring to, I did stress out this point: Before buying a product, do some internet research. In fact, the more expensive something is or the larger its effect on your life, the more you should do research on it. By doing some research, you’ll get to know a product’s price range, as well as its quality/effectiveness.
Here are some real life examples:
- If you want to buy a new appliance, you can look at prices and models from the Abenson website, the SM Appliance website, BX Appliances, and the Makro website. After finding some units within your price range, simply type in the model’s name into your favorite search engine (such as Google). For example “Sanyo SW-75ST washing machine”. Odds are, you’ll find out more about the product this way (such as dimensions, more detailed specifications, etc.). If you don’t find much about the model, research the brand, type of appliance, and add the word ‘review’ . For example, type ‘Sanyo washing machine reviews’ to find existing customer reviews on Sanyo branded washing machines.
- If you want a new cellphone, research the web for reviews. Again, just type the model name, followed by the word ‘review’. For example, I typed ‘Nokia 3220 review’ into Google and got this very helpful review as the first result.
- For a new car, motorcycle, or scooter, you can also use the same technique above. Except, personally, I love hanging out at MotorcyclePhilippines. People there are very friendly and helpful, plus their classifieds section lists some used vehicles.
- For tech gadgets such as cameras and computer gear, you can go to the Digital Photographer Philippines forum, ReviewRoundup, or TipidPC. The Digital Photographer Philippines and TipidPC forums are filled with several users who can give you their opinion of different products. ReviewRoundup, on the other hand, is a collection of magazine reviews of various tech gadgets.
Here are some additional ways to do online research before buying something:
- Go to online forums and ask people. Most of the time, you’ll find that many people online would be more than happy to tell you what they think of a certain product. Just go ahead and ask. I’ve already mentioned a few forums above that you can start with.
- Research “How to buy” that product. For example, if it’s your first time buying a vacuum cleaner or a refrigerator, you probably don’t know what to look for. By typing “how to buy a vacuum cleaner” or “how to buy a refrigerator” into Google, you can make a more educated purchase (if you’re curious, here are the results: how to buy a vacuum cleaner, and how to buy a refrigerator).
- Look for existing product reviews from consumers. I know I already mentioned this, but it’s very important. Try to read at least 3 product reviews, if possible.
Doing your research online takes less than 30 minutes. (Unless you’re on dial-up, that is!) This is the difference between making a good purchase and buying something you’ll regret. By simply doing some research int he beginning, you’ll be saving yourself some money and headaches in the long run.
For some reason, doing internet research before buying something isn’t uso in the Philippines – even for people who are online everyday! But doing this is so practical and useful, and takes so little time. There’s no excuse not to do it. With all the information available to us for FREE, there’s no reason why we should spend thousands of pesos on an appliance or device that will give in within a month or so.
Have you ever tried doing some online research before making a purchase? What was your experience like?
Read MoreHow to Spend Less on Gas
Ever notice how your money doesn’t go as far anymore when it comes to gas for your car? The rising cost of petroleum is all over the news lately, and it’s not a surprise that many people want to know how to spend less on gas.
In a previous post, I recommended walking or biking to a location. But there’s more you can do to save your gas money. Here are some additional gas-saving tips:
Go slower. By going slower, you reduce the gas needed by your car to go from one destination to another. With all the traffic jams in Metro Manila, this won’t be hard to accomplish.
Take public transportation. If you’re going to an area that’s easily reachable by commuting, and it’s a beautiful day outside and you’re not planning on buying large bags of groceries or something like that, why not take public transportation?
Telecommute or move closer to your office. If you can get a telecommuting agreement with your employer, that will cut down a lot of expenses – not just gas. You don’t have to buy your lunch outside or dress in office clothes all the time. However, not all employers look at telecommuting in a positive light (even if it saves them money as well). If that’s your case, you can opt to move to an apartment nearer your office.
Don’t become picky when it comes to parking spaces. Park in the first space you find, unless you have compelling reasons not to do it (your car won’t fit, for example).
Find out where cheaper gas is sold. Gas prices aren’t constant all over the Philippines, you can save some money by finding a station that sells gas at a more affordable price. The next time you go around the city, be aware of the prices that gas stations are advertising and make a mental note of which ones are cheaper and within your usual route. AngGAStos is a website that aims to record how much gas costs in different areas in the Philippines. You can look at it as a reference (and don’t forget to share your own information as well).
Make your car weigh as light as possible. The less your car weighs, the less gas it requires to run at a certain speed. Inspect your trunk, back seat, glove compartment, and other nooks and crannies of your car and remove all the unnecessary things.
Get a map or plan before you go to a new place. When visiting a new area or going to a building/resto/house you’ve never been to before, it’s best to check out a map first so you’ll know how to get there and you won’t spend hours circling the place, getting lost, and consuming gas unnecessarily while you’re at it.
Don’t park in hot areas. My friend Nikki reminded me to keep my scooter parked in the shade because gas can easily evaporate if I park it under direct sunlight.
Get a tune up. If your car isn’t in great shape, it usually uses up more gas. Make sure all your car’s parts are working at optimum performance.
Check your tire pressure. This tip, I got from a reader over at Inquirer’s MoneySmarts blog. Apparently, you can get more gas mileage if your tires are properly inflated.
Read additional resources from other websites. If you want to read up on more gas-saving tips, check out these articles:
What do you do to save money on gas? How much does gas in your area cost?
Read MoreWhat is frugality?
In this blog, we keep talking about being frugal without actually defining what it means. It’s about time we did.
What is frugality? Is it about buying the cheapest products? Is it about cutting corners everywhere? Do you have to save a lot of money to become frugal?
Frugality isn’t about price or numbers alone. It’s about getting the best value for your money - whatever it is you’re spending it on.
Some examples of NOT being frugal:
- If the cheapest toilet paper is P6.00 a roll, but it keeps breaking and doesn’t absorb as much, that’s not frugal.
- If the cheapest make up makes your skin itch or isn’t the color you like, buying it is not a frugal choice.
- If your health is important to you and you keep buying and eating instant noodles every day because they are cheap, then you’re not getting the best value for your money. Eating instant noodles too frequently is unhealthy (mostly because of the MSG and the wax in the noodles).
Some examples of being frugal:
- If you realize that buying your favorite brand of soap is cheaper in the long run if you buy it in bulk, then that’s what you do.
- If you want a new camera, instead of buying the latest model, you shop around for models that are a year or two older because they’re much cheaper now.
- You buy used books instead of brand new books because you know they’re going to have the same words and pictures anyway and the only difference is that the used book doesn’t look as shiny and new (but it’s still ok).
(If you want to read more about ‘frugality vs. being cheap’, Fitz Villafuerte has written an interesting article on the subject, with matching scenarios you can think about.)There’s also another thing you have to consider when taking frugality into account: time and convenience. Both these things play an important factor when you’re faced with spending decisions. Here are some examples:
- Although I can walk to my house from the jeepney terminal, I choose to spend P 17.00 on a tricycle ride because it is very hot outside and I need to save my energy because I still have to work when I get home.
- When we bought our scooter, we could’ve bought it at a lower price (by P 2,000), except the cheaper alternative did not have complete registration papers and was a little farther from our house. We opted for the more expensive unit that the seller actually brought to our home (which was important, because we don’t have licenses yet).
- Groceries at Pure Gold Cubao are the cheapest I’ve seen, but it’s an hour away from my house and I don’t have a car to load the groceries in (I have to carry them myself going home). Instead of making things harder for myself, I shop at a nearer grocery which is also cheap (not as cheap as Pure Gold, though) but without the hassle.
When factoring in time and convenience with your purchases, consider these questions:
How much are you willing to ‘pay’ to make a more convenient purchase? How much are you willing to ‘pay’ to make the purchase ASAP?
In the cases I illustrated above, I was willing to ‘pay’ P 17.00 to avoid the heat of walking under the sun and to conserve my energy. For the scooter, I was willing to ‘pay’ P 2,000.00 more for a delivered product with complete papers. I’m also willing to pay an extra 25 centavos to 5 pesos per item of grocery for the convenience of having the grocery near my house.
Frugality is getting the best value for your peso. That’s it. You’re the one who defines what ‘value’ is. Is it convenience? A speedy purchase? Is it quality? For me, it’s a little bit of all of that. If I can get an item cheaper without sacrificing too much time, convenience, and quality, then I go for the cheaper bargain.
Edited to add: After I posted this article, I saw this great post from QueerCents about what frugal living is all about. It’s very similar to my personal values, so I think it’s a good resource to supplement what I’ve written here. Click here to read 5 Steps to Prosper at Frugal Living.
How do you define frugality? Do you think you’re frugal?
Read MoreMaking a 'gimik' more affordable
It’s Friday night and your officemates or friends want to go out. Although you love their company, either you don’t have enough gimik money or your friends tend to spend more money on gimiks than you’re comfortable with. So what do you do? Is it possible to hang out with them without breaking your budget?
Yup, and here are some ways to do it:
Make the suggestions. Before someone jumps in to say they want to go to the most expensive restaurant in Serendra, step in and make your own suggestion. It helps to know beforehand the more affordable places in your meeting area. Doing your research will make things less of a hassle.
Sometimes, friends appreciate going to a place that’s out of the ordinary. So if you know an affordable hole-in-the-wall restaurant that only few people know about, your friends are likely to be willing to go with your suggestion.
Order as a group. Getting a family sized serving and sharing it tends to be cheaper than individual orders. Plus, you can only get as much as you want rather than attempting to finish a big serving.
Meet after the meal. If you’re really short on funds, you can opt to meet your friends when they’re almost finished (or completely finished) with the meal. That way, you don’t have to order much (or anything). Besides, the after-meal conversation tends to be more interesting, and groups often move to a different place for dessert/drinks, which will be cheaper than a complete meal.
Opt for water. But only if it isn’t unfiltered tap water. Obviously, free water is cheaper (and healthier) than softdrinks or a P60.00 glass of iced tea.
Remember that you don’t always have to buy what your friends buy. Especially if you have different tastes. I’m not a big fan of coffee, but I always have friends who want to meet/stay at Starbucks. I’ve been to Starbucks countless times, but I’ve never bought anything – simply because I don’t like coffee (although someone bought me a coffee and dessert once – they were being insistent). If you like Starbucks coffee, then go ahead. The point is that if what your friends are buying isn’t worth it for you, or it’s something you don’t like, don’t force yourself to buy. Sayang lang. After all, if you’re going to spend money, you should do so with something you like.
You don’t have to do all these things every time you go out with friends. You’re supposed to be frugal, not cheap. However, using a combination of 2 or 3 of these things can make your next gimik more wallet-friendly.
Read MoreStretching the peso against the high cost of living (Part 2)
In the first part of this series, we discussed how we can be frugal with our food, household needs, and utilities (if you haven’t read it yet, click here). Basically, the post is my personal response to the news about inflation reaching 9.6% this month. There’s also an interesting discussion on the effects of inflation over at the MoneySmarts blog, which you might want to check out.
I generally don’t like those who proclaim that the end of the world upon us, but the rising cost of living presents the perfect opportunity for people to look at their expenses, savings, and income. In this installment, we’ll discuss how to save money on entertainment and transportation to minimize the effect of inflation on our expenses.
Entertainment
Although computations for inflation doesn’t really cover entertainment, cutting a few corners in this aspect can help stretch your income to pay for the rising costs of food and energy.
Movie and book swapping. We discussed the benefits of book swapping in a previous post. The same could be applied to DVDs, VCDs, and video games. Not only is it cheaper than buying things brand new, but it’s a good excuse to meet up with friends and acquaintances.
Look for cheap/free screenings. The UP Film Institute holds several screenings each month, and the tickets are often cheaper (if not free) than regular movie houses. Of course, they don’t show the latest blockbusters, but they have great alternatives in case you want to see something different from what everyone else is watching.
Wait for blockbusters to come out in video or cable. Not only is it cheaper, but many people can watch at the same time without the cost adding up.
Of course, there are some movies where watching in the big screen makes a difference. These are generally movies with a lot of special effects, such as Lord of the Rings or war/sci-fi epics. It’s okay to watch these movies in the theater, but not all movies lessen in effect/impact when watched in the small screen.
Transportation.
Walk or bike. I have a friend who bikes extensively and doesn’t really commute that much. If you’re going somewhere nearby and have time/energy to spare, walking or biking there might be a good alternative.
Practice frugal travel. We recently posted some frugal travel tips, which you can consider when taking an out of town trip.
Tomorrow, we’ll discuss some ideas on increasing income and managing investments and savings.
How are you dealing with inflation?
Related post:
Read MoreStretching the peso against the high cost of living (Part 1)
The news about inflation rising to 9.6% is alarming, giving people more reason to learn how to live frugally and invest wisely. Over the next few days, Frugal Pinoy will be publishing a series of blog posts about how to lessen inflation’s effect on your wallet.
In this series, Stretching the Peso Against the High Cost of Living, we’ll be covering a variety of topics:
- Food and Household Needs,
- Utilities,
- Entertainment,
- Transportation,
- and Income.
Today’s installment lists basic frugality tips for Food, Household Needs, and Utilities.
Food and Household Needs
Buy vegetables, meat, fish, and poultry from the palengke, not the grocery. Grocery prices tend to be more expensive, and if you’re unlucky, the products won’t be as fresh either. I made this mistake when I was starting to be financially independent.
Eat more veggies than meat. Vegetables are generally cheaper than meat. Generally, because I’m pretty sure hydroponic zucchini is more expensive than one kilo of pork. When I say ‘veggies’, I mean your average kamatis, talong, repolyo, etc. It’s amazing how versatile these vegetables can be if you experiment. This month, I’ll be featuring some vegetable recipes you can use.
Buy non-perishables in bulk. This includes toilet paper, dishwashing liquid, detergent, soap, and other things that take a long time to spoil. My favorite place for these bulk purchases is Makro, but an inexpensive grocery store such as SM Savemore will do. REMEMBER: Do the math. Just because something is in bulk, it doesn’t mean it’s cheaper than it would be if you bought it in smaller portions. Your cellphone has a calculator – use it.
Plan your meals. If you can plan your meals throughout the month, you’ll be able to monitor the ingredients you use and how much you consume. You can also apply batch cooking, if you can. I don’t plan my meals strictly, but I think this is something I’ll be doing in light of the cost of food nowadays.
Do your groceries only once or twice a month. This forces you to be creative with what you have, rather than buying things at your every whim. We usually just buy the ‘staples’ of our diet – including bread, margarine, cheese, cream, broth cubes, and tomato sauce. It’s amazing what you can do with these seemingly ordinary things. You can use them with a variety of vegetables, meat, and fish products.
Use generic products, but only when it makes sense. Generic, store-brand products are usually less expensive than branded counterparts. But make sure that when you opt for generic, you’re getting a good quality product. So what if it’s cheaper if it doesn’t work, right? Like in the case of the SM Bonus Dishwasher I mentioned before, it wasn’t worth the money at all (but an effective generic product from Savepak was perfect). Try generics, but don’t stick with them if they’re not worth it.
Utilities.
Review your bills and cut back on what’s unnecessary. When I realized that my cable TV bill was unnecessary, I unsubscribed from the service, which was costing me roughly P800.00 per month. Instead, I spent that money on a DSL subscription, which pays for itself because I work online. Plus, with YouTube and SurftheChannel, who needs cable? I haven’t had cable TV in over one year, and honestly, it’s made my life better.
Also, if you realize that you spend so much money on your prepaid or postpaid cellphone service, try to cut back. I don’t think I spend more than P100.00 of load each month.
Learn how to conserve water and electricity. This can help you spend less on your water and electric bill.
- Unplug appliances that are not in use.
- If you’re using a washing machine, wash your clothes in big batches rather than in small batches. You generally use less water this way.
- Handwash underwear and light clothing.
- Maximize windows for lighting during the day.
- Use a rain barrel. Since it’s been raining a lot recently, it wouldn’t hurt to store that “free” water in a barrel for future use (such as watering plants, washing your car, flushing the toilet, etc.) Just keep it covered to avoid turning it into a home of dengue-carrying mosquitoes.
Here are some other water and electricity conservation tips:
In the next installment, we’ll talk about being frugal with Entertainment and Transportation. Stay tuned!
How did you react with the startling news on inflation? Are you taking any measures to spend less or earn more?
Related Posts:
- Stretching the peso against the high cost of living – Part 2
- Stretching the peso against the high cost of living – Part3
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