Frugality is the key factor in getting rich. After all, even if you earn 9000 million in pesos every year but your expense is over 9000 million (see what I did there?), you will still live in poverty.
Lately, I have been thinking, the typical Juan Tamads, the Pinoys, have this knack for being lazy, and it costs us money. And these ways are really small, but quite repetitive. These add up in the long run.
Here are some of the ways your laziness had wasted your money, one way or another.
1. You Eat Pre-made Food Because You Were Too Lazy to Cook (Or Just Prepare).
I remember that time my wife and I walked our dogs in the park. We forgot (read: procrastinated) to prepare our water bottles and thermos. The result: we were so thirsty we had to buy three bottles (because I am such a water guzzler) for 20 pesos each and she craved for her daily hot Milo, we had to buy a cup for a hefty 45 pesos! If we prepped our drinks at home, it would have only cost us 8 pesos (that’s only the Milo).
Those that go to the gym regularly can suffer this kind of waste: I have seen gym rats forget their water bottles, protein powders, towers, handwraps. You know, the stuffs that are just free at home or they have bought in bulk or are reusable. No wonder gyms are profitable.
2. You Were Too Lazy to Save Money by Finding Deals.
It is the year 2015, people. If you haven’t heard of coupon sites like Ensogo or Metrodeal, then you are not saving money. I know these sites are made to make you spend more by tempting you, but you can utilize these sites by searching for the items you want only when you need them. Looking for a new flat iron? Try finding a deal from these sites. Going to a massage therapist? Look for one there.
3. Your Travel Expense is Astronomical Because You Did Not Create Your Itinerary. Someone Else Did.
Vacations are important. They build memories that last a lifetime that you would not have had if you spent your money elsewhere. My spouse and I agreed that if we were to choose to buy a new doodad or take a vacation, we will choose the latter.
We do not use pre-made itineraries, though. Companies that provide these make money by making discounted arrangements with suppliers (of accommodations, transportation, meals, souvenirs, guides) and charging you with the full price. That discount should have been yours! Stop being lazy and do some research. There are good travel blogs that will teach you how to save money by pointing you to inexpensive restaurants, accommodation and teaching you how to use public transportation.
I remember the time we visited a few Mindanao provinces for eight days. With preparation for finding good deals and flight sales, our costs, including air fare was under 20k, where as a friend of us who opted to use a pre-made itinerary visiting the same spots had to spend 15k each person for just four days.
4. You Spend More Money by not Negotiating.
Tumawad ka naman! It is a no-brainer, but sometimes we just are too shy, too lazy or just forget. Bazaars and tiangge like Divisoria market are a common suspect as you can save as much as P200 haggling for a piece of bag, but did you know that you can negotiate with companies too?
Many people think that because something is a formal establishment, the prices are fixed. This is a wrong way to think. In fact, companies do expect that someone will try to negotiate, one way or another. Use this fact.
Medical bills, vet bills, repairman bills, pest extermination bills even your overdue credit card bill are negotiable, to name a few. It is safe to assume you can negotiate any bill that comes your way. The worst that can happen is for them to say no. They will not laugh at you; they will not embarrass you because they value you as a client.
Bonus: You Miss Out on an Income by not Asking Referral Fees.
While not really wasting you money, missing an income has the same effect on your pocket. It deprives you of the chance to become richer than you are right now. And one most common thing I see is people undervaluing their word of mouth and not asking if there is a commission if they refer their friends to some establishments.
Companies now know the power of word of mouth and are starting to invite clients to bring in core clients for them for a small fraction of the income they generate from the referral. This is commission, but let us call this referral fee. (Because many people think negatively when commission is mentioned.)
Did you just have a wedding and your soon-to-be married friend asks you if she can have the number to your reception venue? Call the venue first and ask them if they have a referral system. Do this every time someone asks you to refer a service you liked and you will be rewarded monetarily.