Metro Manila (CNN Philippines, January 2) — One of the yearly New Year’s resolutions for many Filipinos is to save. However, there are still those who struggle to achieve this because of certain circumstances.
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An expert has one tip on how one can start this, without the hassle of securing a piggy bank.
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“One thing you can do is to trick your mind into saving and to do that is to automate your finances,” financial adviser Antonette Aquino told CNN Philippines’ The Source on Monday.
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She pointed out that managing one’s finances differs from person to person.
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Aquino said there is really no best strategy or method when it comes to budgeting or saving. Personal finances are usually driven by a person’s behavior that is why many people struggle to save, she added.
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The financial planner said banking platforms or e-wallets have a feature where users can enroll their accounts and set up a fixed amount to be transferred to a separate account. This can be considered a person’s savings for goals like a dream vacation, a car, or a down payment for a property, she added.
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Aquino also noted that regardless of what stage a person is in right now, it is important to save.
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“Get an idea of your cash flow, how much you spend, how much you are earning, and from there, you can start with an amount that works best for you,” she said.
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