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Working Ant in Ortigas

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Very Personal Blogger

Rule No. 1: No Broke Millennial Allowed

Congrats, it is Independence Day! How is the feeling of finally making your own money and spending it on your own choices, which you have no idea if these could make you richer or poorer?

The next thing you know you are doing is swiping your maxed-out credit card to get the  pair of celebrity- designed shoes you always wanted. Not every day is a sunny day, you will realize.

Trust me, I have been there and I learned that the amount of money you make every month has nothing to do with your financial capabilities. It is actually how you spend the money. Avoiding to become a broke millennial should be number one on your bucket list.

1. Pay your accommodation bills before hitting the department store looking for the “sale” tag.

At times, you will find yourself identifying your priorities because you cannot pay everything at the moment. 

Take it from me- it would be better to have the internet service disconnected than finding your apartment door locked by your landlord.

On a piece of paper or on Microsoft Excel, write down the things you should pay with their deadlines. Afterwards, rank them from “Highest Priority” to “Lowest Priority”. This list will tell you that you need to go to the Bayad Center first before the other parts of the mall.

1. Monthly Rental- P7,000- October 16 
2. Insurance- P2,000- October 15
3. Water+ Electric Bill- P500- October 17
4. Paluwagan- P8,000- October 31

5. Utang kay Beshie- P2,500- October 31
6. Internet Connection- P2,000- October 5

2. Insurance first before traveling.

If you are fond of “Do It Yourself” trips, you should have at least be covered by a travel insurance. Why? Because when you meet an accident while the trip, your medical expenses will also be Pay It Yourself. And you will not like it for sure.

Thus when you join organized tours, you should always pick those agencies with a reliable travel insurance coverage. Thus never fail to ask about the insurance coverage when signing up for an agency tour.

When you do your budgeting for your travel bucket list in 2019, make sure you add travel insurance on the list of expenses.

3. Remember, your expensive stuff can never benefit your professional reputation. Period.

Professional reputation cannot be achieved by showing off expensive materials. 

As a starter in life, everyone knows that your parents’ fortune has helped you get those expensive things- car, laptop, watch, condominium, etc. You are either a thank-you-dad rich kid or a soon-to-be-broke pretentious soul when you have more than what is expected of someone who is not yet a Manny Pangilinan.

If you want to make a good professional reputation, work your ass off to produce a masterpiece that would be expensive to get-- that's your ticket to professional reputation. In short, do good at work.

The next time you buy something, think of functionality and practicality. Using a “jologs” phone will not affect your professional reputation at all because branding belongs to your boss for now.

4. Audit your own expenses or use cash.

Cashless purchases require a lot of effort in tracking your expenditures. If you think you cannot track your expenses, you better use cash.

I am a person who keeps on swiping my debit card without knowing how much is left on my account. And most of the time, I end up running out of cash.

Actually, accounting expenses is fun because you will know which aspect of your life is the most expensive. This guides you in identifying what activities that need to be axed from your list in case you catch yourself in a financial challenge.

5. The best truth ever told- you do not like the taste of liquor.

When going on a drinking spree, always remember that you are not there because you want to drink. Instead, you are doing it  because you want to be with the people you are drinking with. It's companionship, after all.

Re-read above to get the clear meaning of it.

Let’s face it- liquor does not taste good. It is bitter, and that is why people invented a variety of chasers. But you still drink because you want to tell what is happening with your life and you want to know the latest about your friends, too.

In short, you do not have to drink that much. You can spend time with those people doing another thing- cooking pasta, climbing mountains, brewing coffee, or playing soccer. That’s much cheaper than wasting your money on expensive liquor.

Now you should have realized, these are the same, old reminders that Mom has been telling us since we learn how to ask for allowances from her. She is right again, isn’t she?

Aside from your mother, it would be nice to talk to a financial planner to discuss about how to save money, multiply your earnings, and secure your future so you will never go broke (again).

Christian is a Marketing Communications practitioner in Quezon City. He is an Igorot from Sagada, Mountain Province. To get in touch with him, please shoot an email to christianaligonow@gmail.com.

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