We have to admit, it’s not easy to resist succumbing to purchasing stuff once we see them on the trend, or once we see the cool features these items offer. Commercialization and social media paved the way for manic shopping to be on the rise, a reason our spending has taken up a huge notch. However, we also know that there are so many things that we come to regret buying over time, especially once financial troubles come our way.
This is why it’s important to be educated about finance and the importance of wise spending. And if you want to be more literate on where to spend your hard-earned cash, check out these tips.
Property investment
This is the perfect proof that spending and saving do not necessarily cancel each out. It’s possible to spend and save at the same time when it comes to property investment, especially because it helps you have passive income in the long run.
With so many renters looking for a place with amenities and accessibility, properties like apartments and condominiums have become in demand anywhere in the Philippines. In fact, these types of properties are the most talked and about at the Philippine Property and Investment Exhibition (PPIE)—the biggest, longest running and most trusted Philippine business and investment forum in the Middle East—with many people registering via: http://events.ppie.ae/register/.
Canvas and Compute
If you do want to spend money on material possessions, make sure you think hard about what type of your desired items to buy. For instance, consider buying branded items if you know they will last much longer than the affordable ones. If you’re not going to use a certain item often, then consider the cheap ones.
Also think about canvasing and comparing prices between brands, and not just buy the first thing you see.
READ ALSO: 4 TYPES OF OFWS BASED ON THEIR SPENDING HABITS
Search for good deals
Always watch out for promos. There are a lot of online shops, booking sites, dining establishments, as well as other stores that offer discounts and deals for a limited period of time. This will definitely help you buy the stuff, book the flights, and reserve the restaurants you want for much less.
Consult other people first
If you want to buy a certain product, talk to those who have tried it so you can make an informed decision about your purchase. Study the features but also consider the reviews so you will know what to expect with the product, or if you ever want to buy it at all.
READ ALSO: How families should spend money sent by OFWs in UAE
Invest on yourself
Instead of spending for unnecessary things, why not try to spend it on bettering yourself? Investing in yourself may lead you towards growth and better career and life opportunities. Consider enrolling in skills training, business seminars, and short courses related to your field, or the one you’re interested in pursuing.
