The video provides a relatable and practical budgeting framework tailored to a specific income level, which resonates with viewers seeking financial guidance. The creator's personal approach and emphasis on flexibility make the advice accessible and actionable.
Summary
The creator shares a personal budgeting strategy for a monthly income of PHP 30,000, dividing expenses into non-flexible and flexible categories. She emphasizes that the allocation of flexible spending and savings is highly personal and depends on individual lifestyle and goals, encouraging viewers to reflect on their priorities and timelines when creating their own budgets.
Structure
1Introduction and disclaimer about not being a finance expert.
2Explanation of personal experience-based saving strategy.
3Breakdown of monthly income and expenses into non-flexible and flexible categories.
4Detailed allocation for non-flexible expenses (mortgage/rent, utilities, food, transport).
5Discussion of flexible expenses and savings allocation (shopping, social life, savings/investment).
6Emphasis on personalizing the budget based on lifestyle and goals.
7The importance of setting priorities and timelines for financial goals.
Original caption
Replying to @bigsmilecreatives
More from @thatfilipinafarmer
More breakout videos from this creator.
8
Concluding remarks on the value of self-reflection in budgeting.
On-screen text
Spend all your money
to start saving
Peso Edition
Transcript
Spend all your money to start saving, peso edition. Before anything else, let me just remind you, I am not a finance expert. I do not have a background in finance. So whatever it is that I'm about to share you is based on my personal experience on how I have been saving in the last few years. So this is not a financial advice, but if you think that my way of saving is applicable to your lifestyle, then please go ahead and adopt. The homework that I have been given is to present the money saving tip based on 25 to 30,000 peso monthly income in the Philippines. I have been based in Singapore for 19 years, so I'm not really that familiar with the expenses or at least I do not have an idea on the price range. So whatever it is going to present is just based on my estimate. Okay. And if this is applicable to you, you can adjust the breakdown based on your exact income and however you want to split the expenses. For the sake of easy math, I am going for a 30,000 peso monthly income. For us to start saving, we only have one goal and that is to spend all of our money, every peso of the 30,000 pesos every month. When it comes to our expenses, there will be two buckets. The first one is the non-flexible bucket and then the second one is the flexible bucket. For the non-flexible expenses, these are the expenses that whatever happens, whether you get sick, whether there's a typhoon or whatever, you still have to pay for this bill. Similar to what I have shared earlier, I've just split it into mortgage or rent, utility bills (water/electricity/wifi), food and transport because for us Filipinos, we love to eat. When it comes to our flexible expenses, this is where we can actually maximize our savings. But this is highly dependent on your lifestyle because us Filipinos, we love to eat out or we love to socialize. So this could be a challenge, but a good kind of challenge. I have split it based on 60, 20, 20. So 60% for your savings/investment, 20% for your social life and 20% for your shopping. So that you don't feel like you're lugi. Now, of course, if you are like me who felt the pressure to save as much as I can because I haven't been saving in the last few years, you can adjust this accordingly. So let's say maybe like, oh, like I can do more than 60% of your savings, maybe you can adjust it to 70%, 80%, 90%. It's up to you. For me, I have done it based on 90% of my savings. It's all about what is realistic for you. The most important part of this exercise is determining what are your priorities, what are your future goals, at the same time, what kind of timeline are you giving yourself? Like let's say, for example, uh, to buying a house, do you wanna achieve it in two years time or in five years time? Because the timeline yourself will dictate how much you need to save every month. The mindset I had when I was starting to figure out how to save money is that I want to retain my comfortable lifestyle and save at the same time because it's also completely up to YOU what you really want to achieve. Because the last thing that I wanted to feel, you know, oh, I'm saving a lot, but I can't go out anymore, I can't socialize with my friends. So you have to ask yourself like in terms of lifestyle, do you want to sacrifice 10% of your lifestyle, 50% of your lifestyle or 90% of your lifestyle? Those are like the questions to ask yourself. For me, I want to save, but I still want to feel the freedom or oh, I want to go out and you know, eat at a restaurant or I want to join my friends to go to Bali. So it's going to be a lot of reflection time for you. And once you have figured out things that you want to achieve, what are the things that you are preparing for? To like the different milestones in your life, maybe you're getting married, maybe you wanna buy a house, maybe you wanna buy your second property, and then you split the savings accordingly. To say I really appreciate your questions, like you really are making me feel like I'm doing something useful and I am, it feels so good to know that I'm doing something that is practical or helpful to anyone who could be seeing this. This is Jill, your enabler friend.
