Small Money Habits That can Lead to Big Financial Issues

Bukod sa marami na ang nakakapag-unbox ng blind boxes, kaliwa’t kanan na rin ang nakakabili ng dream sneakers nila—mula sa Adidas Samba at Nike Dunks hanggang Puma Palermo! Expensive iced coffee na rin ang paboritong budol ng maraming Pilipino. Are things really becoming more affordable despite the continuous rise of prices, especially when it comes to necessities like food, all while wages remain stagnant? Or are we falling into spending habits that, if left unchecked, may lead us to financial challenges?

‍

But, what is a ‘habit?’ According to the Merriam-Webster dictionary, a habit is “an acquired mode of behavior that has become nearly or completely involuntary.” It is a behavior that, when repeated, becomes automatic (Clear, 2018). 

‍

Let’s dive into some spending habits that might seem harmless in the short term but can harm your finances in the long run.

‍

1. Deserve ko ‘to! 

‍

Ang paggamit ng phrase na “deserve ko ‘to” to justify splurges has been consistently on the rise among Filipinos since 2020 (Llemit, 2022). 

‍

“Deserve ko ‘to kasi I’m healing my inner child.” 

“Deserve ko ‘to kasi natulog ako nang maaga!” 

“Deserve ko ‘to dahil may exam ako.” 

‍

Pero ang tanong: will uttering this phrase really make us feel better about every purchase? Or are we just convincing ourselves to ignore how it affects our finances after the transaction?

‍

2. Free shipping AND vouchers? Count me in! 

‍

E-commerce is booming, and Filipino consumers are spending!

‍

In an article by Payments and Commerce Market Intelligence (PCMI) in 2024, Filipinos spent an average of $246 annually on e-commerce as of 2023, with that number expected to rise to $302 by 2025. Online shopping has also become harder to resist, with content and ads flooding social media (Facebook, TikTok, and Instagram) and popular shopping applications (like the orange app!). Sabayan pa ng free shipping, 20% off, at iba pa!

‍

In the blink of an eye, you planned to buy a phone charger because yours broke, yet now you find yourself adding a phone case, screen protector, at iba pang abubot just to make the most of the deals.

‍

Sure, mababa nga ang shipping fee at may vouchers available, pero ang total na babayaran naman ay three times more than sa initial spending plan! 

‍

Are those discounts and promos truly worth it if they lead you to buy items that end up on display or being used just a handful of times?

‍

3. Convenience: less hassle, pero less din ang savings 

‍

“Book na lang ako ng mototaxi, nakakapagod maglakad.”
“Wala ako sa mood magluto, pa-deliver nalang tayo ng food!”
“Pa-Lalamove mo nalang ang gamit ko, tinatamad ako mag-drive eh.” 

‍

Each time we face a little inconvenience, it is inevitable to think of plans on how to avoid it—a convenient alternative! While convenience certainly makes life easier, it often comes with a price. The use of convenient services increases the final bill (Huff, 2024). 

‍

Is convenience something you are willing to spend on consistently even if it may inconvenience you in the long run? 

‍

May it be from your “deserve ko ‘to” moments, a dance of temptation pagdating sa online shopping vouchers, or beating your battle against the hassle of doing things, it is important to do a reality check on your spending habits. If we keep ignoring these habits, they might end up costing us more than we realize in the future.

Build better money habits for a secure financial future! Start by topping up your e-wallets with eTap for a simple and effective way to kickstart your saving journey in just one tap with eTap! 

Written by Sophia Angela Era (Copywriter)
Thumbnail by Brennan Cahilig (Multimedia Designer)

‍