11 Pinays Get Real About How They'll Be Saving Money In 2020

What’s worth investing in this coming year?
PHOTO: Getty Images

Perhaps unsurprisingly, among the most pressing concerns for the contemporary Filipina as she plans the next year (and for some, the next decade), is finances. Am I earning enough? How much should I be saving? What is worth investing in? These are questions that everyone, no matter their background, must ask when looking towards the future. And while financial planning can feel like a lonely and tedious affair, there’s no need to hit the panic button.

The first thing to remember is: You are not alone. The issues that you’re facing have likely been experienced by someone else. This means there is wisdom and help out there to get you through to the other side. Secondly: Money matters are not an insurmountable obstacle. Even large debt and big investments can be tackled with the right kind of budget and discipline. Thirdly: There isn’t just one way to make sound financial decisions.

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So, take a breath. If your goal is to save your earnings and spend wisely in 2020, it is completely achievable. Meet 11 Filipinas who are doing just that, in their own unique way.

Olivia, 26, Government Employee


What are you saving for in 2020?
I’m saving for my son’s education because he’s going into Grade 1 next school year and will be transferring to a more expensive school. I’m also saving for future travels. I want to visit Japan with my son and husband in 2020.

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How are you saving for it?
I put P10,000 in my savings account every pay day.

Val, 24, Executive Assistant


What are you saving for in 2020?

  1. My iPhone 6 has worked for me for the past five years, but it’s time to save up and get the new model.
  2. I need to save money to pay off my car, which I barely use. I keep the vehicle because it’s a necessary means of transportation for me, since I don’t like to commute.
  3. I’m investing in my sister’s monthly baon while she is in medical school. It is an investment because in the future, she will return it by giving our family free check-ups.
  4. I’m also investing in travel. 2020 is going to be a year of more self-love and self-discovery. And you never knowI might meet my future hubby!
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How are you saving for it?
I make a little over P30,000 per month, and half of it goes into my savings and adulting bills.

Khrisha, 22, Massage Therapist


What are you saving for in 2020?
Same as what I invested in in 2019traveling! My first job was as a travel agent, which really ignited my passion for traveling. I’m obsessed with it! Plus, it looks great on my Instagram feed.

How are you saving for it?
My passion for traveling is a priority. So, if I’m earning P15,000 per month, plus tips and bonuses, 10 percent will go to my travel fund. The amount I save over a certain duration decides where I can travel to next.

Danica, 27, Network Engineer

What are you saving for in 2020?
My husband and I are saving up for our first anniversary trip next year. Since he proposed to me in Bali, way back in 2018, we decided to go back and celebrate our first year as husband and wife there.

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How are you saving for it?
Since we started traveling, we allot at least 10 percent of our monthly income for our travel funds. Now that we’re married, we combined our income. To stay organized, we have separate accounts emergencies (5 percent), investment & assets (15 percent), insurance (5 percent), daily and other expenses/bills (45 percent), and travel funds (10 percent). But I also have a personal account for my savings (of which I allot 20 percent of my monthly income).

Margaux, 23,  Area Merchandiser

What are you saving for in 2020?
A house and lot, and traveling to Korea, Taiwan, or Bali.

How are you saving for it?
I make P20,000 per month, and I put 25 percent of that into my savings.

Chynna, 28, Business Owner & Licensed Financial Advisor


What are you saving for in 2020?
I’m saving for a new Macbook, a GG Dionysus purse, and trips to Australia, Korea, and Japan with my friends!

How are you saving for it?
Every time I receive my commission from my sales, I make sure to immediately put 50 percent of it in my savings account. The other 50 percent goes to my workouts, fun, food, bills, shopping, leisure, etc. I discipline myself by making sure I only use the allotted amount, and as much as possible, I avoid using the money I put in my savings account. Also, I’ve been trying to avoid going out at night to lessen my expenses.

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Jean, 25, Entrepreneur


What are you saving for in 2020?
I’m saving money to start my own business. I’ve had this concept for a while, and I can finally build it up on my own. My husband and I are also saving for a future house.

How are you saving for it?
While planning my business and caring for my household, I also work part-time. I earn around P30,000 per month. From that, P15,000 goes towards my business, P5,000 to my and my husband’s joint bank account, P5,000 to an account for my future baby, and P5,000 to my personal account.

Anonymous, 26, Freelance Interior Designer


What are you saving for in 2020?
I’m saving up for a fresh start! At the moment, I can’t save up for specific things until I clear up some debt.

How are you saving for it?
I’m trying to set aside an amount each time money comes in. So far, what I try to do is set aside what expected expenses I have and save what’s left for the utang. I *want* to have a realistic budget and stick to it. I also want to develop the habit of spending within my means or even below it when possible.

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Cattyline, 23, Channel Sales Executive


What are you saving for in 2020?
I am saving up to travel to my dream destination: Italy.

How are you saving for it?
I make P35,000 per month, and P5,000 goes into my savings account every payday.

Iris, 29, Housewife


What are you saving for in 2020?
I’m an impulsive online shopper, and I receive a monthly allowance from my husband dedicated entirely to my online shopping. But from that, I am saving P2,000 every month for my two-year-old son. I’m planning on giving it to him when he turns 18.

How are you saving for it?
Aside from my online shopping money, I also earn from selling some of my pre-loved clothes and from the crocheted items that I make when I get bored. The money from my earnings goes into my savings.

Joey Ann, 27, Marketing Professional


What are you saving for in 2020?
My boyfriend proposed on November 5, 2019, so I am saving up for my wedding. We all know na nowadays, 'pag ikakasal, hindi na lahat sa lalaki. Need din na may participation ang bride. I’m also saving for our last trip together as boyfriend and girlfriend. Maganda na dream destination sana.

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How are you saving for it?
I make P100,000 every month—P80,000 incentives (minsan mas malaki pa 'pag mas nagsipag) and P20,000 salary. Yung P20,000 salary pumapasok sa ATM Payroll, while the incentives are given to us through cheques. Yung mga incentives ko, dine-deposit ko kaagad sa aking savings account. I requested the bank to not issue the ATM card for this savings account, kasi sabi ko sa sarili ko, payroll na P20,000 lang ang gagamitin ko pang gastos. Then buo yung incentives ko for savings. I opted not to have an ATM card para 'di ako swipe and withdraw anywhere or anytime. 

Vreni Lou, 24, Professional Makeup Artist


What are you saving for in 2020?
In 2020, I have plans to invest in a car, my business, and my travels. As a freelance makeup artist, I honestly need my personal car because of my work. I have to be flexible since my work is mostly in the field, outdoors, and out of town. Without it, I risk having a hard time looking for an available driver or borrowing a car. Since I am serious and enjoying my work right now, I have to invest in what will help me grow in the industry and expand my business. I am also looking forward to traveling as a reward for myself. I want to travel for my own personal growth, and to be able to appreciate my blessings, including living in His beautiful creation.

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How are you saving for it?
Everything has a process, and I have to work hard for it. When it comes to financial management, I have to sacrifice my personal wants (in terms of luxury). As a freelancer, I understand the saying “Hindi araw-araw ay Pasko.” Meaning, while I have a lot today, I might not have as much in the following days or months. So, I really have to budget everything. If I earn P30,000 this month, I have to keep the 50 percent for my savings, and the other 50 percent will be budgeted for my personal expenses (food, monthly bills, personal care, and other needs). I need to be so mindful and careful with my budget because my work is different from the someone who is a regular employee. My income is not fixed.

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