Want More Money? Cutoff on These 6 Financial Traps!

November 17, 2014
A blog post that will make you realize that there’s more to earn if you only eliminate these 6 Financial Traps of your life!

WANT MORE MONEY.jpgI feel extra happy whenever I check my savings account and find that slowly but surely my money is growing. There’s just much security that I feel in my heart. I have been in a phase when I my expenses are way more than what I earn but now that I have been a regular employee with an unexpected salary increase, I felt more responsible towards how I manage my finances. 

With this I realized four very common financial traps that if eliminated or if and then  controlled can give a huge difference on how much savings one can have in his/her lifetime. I define financial traps as things that add false happiness to one’s life. You feel temporary pleasure that will later give permanent damage  to your lifespan.

I believe you have already guessed most of the financial traps that I will mention but I will still enumerate with added explanation. 

  1. Alcohol

Filipinos are known as a happy nation. We celebrate almost any occasion there is. We party and drink together with those close to us (sometimes even strangers). Drinking alcohol is not just bad for the health in a long run but will also cause your money to depreciate. One bottle of gin (the most common one) costs 37 pesos. Imagine what you can buy with that money. You also add to this amount the entrance fee to the club and of course your “pulutan”. If all T.G.I.F. days is a night out day at work then you might want to think again. 37pesos multiply by 365 days is 13, 505 PESOS!!! That’s a lot if you just save rather than spend.


  • Limit the amount you drink slowly.
  • Learn to say “No” to invitations.If you really can’t then let the other person know that you are in a process of quitting alcohol.
  • List your wants in a paper. You want a new shoes? or a new clothe? Then sacrifice your alcohol intake.

  1. Cigarette Smoking

Just like alcohol, cigarette smoking has been part of a Filipino’s common consumption. A pack of 30 cigarettes will cost you not more than 50pesos. My Dad used to finish 3 packs a day but when he finally felt discomfort in his body he stopped. Now he is 12 years free from the said vice. Cutting down in your cigarette smoke can give you a savings of 18,250pesos if you finish a pack in a day for a period of 365 days. That amount can give you a laptop, an Ipad Mini 16 GB or a new cellphone.


  • Slowly cutoff with the amount of cigarette you smoke a day for you may experience withdrawal symptoms that may even hurt you more.
  • Have a motivation to stop. My Dad for example was inspired by the new addition to our family. The year that he quit smoking was the year that my youngest sister was born. He wants to still see Karen grow up.

  1. Newspaper

I know that there’s a part of me who still feel that there is nothing much appealing than reading the news via real newspaper’s paper but in today’s digital age, news can be read anywhere even in your Facebook wall. I believe its time to cut down on newspaper subscription and intelligently read news on trusted websites. 10pesos a day (local newspaper) is equals to 3,000pesos in a month!


  • Arrive earlier at work and read through the browser
  • If you have a Table or an Ipad then  install application that can let you read for free on the go
  • Podcasts can also be a great way to hear news
  • Start reading books like novels, fiction or non-fiction

  1. Coffee

I am a coffee-addict myself, but part of my 21 and better campaign is to cutoff on my consumption of 3-in-1 coffee to two times a day. Not only will I save more considering that a coffee sachet is 9pesos nowadays but I can also opt for more water intake instead. But what more if you buy those in high-end coffee shops, right?!

  • Water! Water! Water!
  • Stop impressing people

  1. Load
Cellphone loads can really diminish your savings by a fraction specially if you spend more. Though there are a lot promos that can give you much more than what you paid for, mobile loads will also cost as much as 1,000pesos in a month. That again is 12,000pesos for a whole year. 
  • If you can say in person, say it in person.
  • Use Facebook messenger, Yahoo messenger or apps like Line and Kakaotalk that lets you send free messages over internet connection.
  1. Fast Food/Snacks
 We may not know it but eating out can cost a lot specially if done in a timely manner. You go fastfood before work, during work and after work… add the amount you consume and you can even get half of your daily rate spent on food. Let’s says you spend 100pesos for breakfast and same amount on lunch and dinner then that’s 300pesos a day. Now multiply that amount to 20 days then you get 6,000pesos spent only for your food!

  • Bring packed lunch and snack to work
  • Have dinner at home with your family as form of bonding
  • Don’t buy softdrinks instead drink water
  • Take advantage of your loyalty card

There are a lot of ways that once can save money. It’s just a matter of choice and of commitment. Remember that saving is not about depriving yourself. Saving is all about wise financial decisions that could make your life better!!!
More Saving Reads here:

Do you agree on the above list of Financial Traps?! 

Can you add more?

Be better in your finances. Save Now, Invest Now and walk your way to success. Sign up in my Email List and receive templates to get you started in your Financial Wealth. Follow me on Facebook and Twitter for better updates. Godbless.

Clariza Glino

Izza of SavingsPinay helps Filipinos bridge the financial literacy gap one content at a time by providing insights and tips on budgeting, saving, investing, side hustle and growing your net worth. Aside from this blog she also writes at www.izzaglinofull.com, a beauty and lifestyle blog for frugal Pinays and manages, www.izzagevents.com, a wedding and event business since 2011. For inquiries, topic suggestions or future collaborations email her at izza@savingspinay.ph


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