BRAND TALK
Save your way to your own home
Most of us hope to be homeowners someday. Whether you are a young professional or starting a family, living in a house you can call your own is a common aspiration. However, aside from the rising cost of daily living, the scarcity of affordable housing is also a huge roadblock for the average Filipino. It has been said, though, that it is not about how much you make, but how much you keep.
With a little motivation and some practical adjustments, you can save enough and be on your way to purchasing your dream home. These tips might just be what you need:
The 20% rule
Every payday, we may be used to paying the bills and saving what is left – if there is something left. This pitfall leads to savings that’s barely there. This is why experts recommend setting aside at least 20% of your income for savings once you get your paycheck. See to this consistently and you will be building a sizeable fund in no time.
Meal-planning works
Ordering our food cravings is easier now more than ever. You may not realize it, but this convenience may be denying you the chance of building your nest egg. Planning your meals, say, for a week, makes you shop for what you need accordingly. This takes away unnecessary online ordering just because you don’t know what to cook, and makes use of what is already in your pantry. This seemingly small move may save you thousands of pesos in a year.
A second stream
Of income, that is. Having a job that pays a regular salary is truly something to be thankful for nowadays, but why rely on one source of income when you can have two or more. Turn your baking hobby into a small business or your writing talent into a side hustle. Identify your strength and make it work for you. This way, you not only utilize an existing resource, but earn from it in the process.
Downgrade to upgrade
Do you really need two video streaming services? Is your cable service worth keeping? Or perhaps your landline phone is just gathering dust. Evaluate your subscription costs and consider downgrading the services you’re used to but no longer use as much. You may be surprised at what you can save in a year.
Having enough funds to invest in a new home can seem far-fetched especially if you have yet to start a habit of budgeting or saving. By setting a goal and carving the path to get it, like adhering to the practices above, you can slowly, but surely, be turning the keys to the door of your new house.
Realizing the gap between would-be homeowners and the number of housing options, developers like SMDC continue to build residential homes for Filipinos across all backgrounds. Fulfilling the advocacy of building a nation of homeowners, it has paved the way for a housing project in Iloilo City.
SMDC, together with SM Prime, DHSUD, and the Local Government Unit of Iloilo City recently inked an agreement to develop the Uswag Low-rise Residential Building in Brgy. San Isidro, Jaro, IloIlo City. This project is marked for the low-income, local government employees of Jaro, Iloilo City. These future homeowners, who have devoted their time in serving their city, will truly appreciate this benefit as a worthwhile investment.
For more information on SMDC, its properties and why it is the fastest growing real estate developers in the country, visit https://smdc.com. #