Here Are Tips To Budget Your Earnings Without Hassle

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About 10 years ago, I had about five (5) credit cards and all of them were active. It was the time when I shifted from one job to an extra rewarding one all I know is that I can fully support the kind of lifestyle that I chose. I was wrong. I realized that the more money you got, the more you spend without realizing you’re not saving at all. That was one of the hardest lessons I have learned in life.

Rod Magaru Managing Your finances

This time I want to discuss how I jumped out of that situation and made myself debt-free today. I know most of you might be wondering, what is debt free even mean? How do you save from pandemic given the jobs are being lost around the globe. Well, if you are reading this, chances are you are willing to learn a thing or two. So I am sharing you 4 tips on how you can help manage your finances with the resources you have.


1. Pay Your Bills on Time

I know that the some of the companies such as our telecom subscription and power provider announces installment scheme to pay for our 2020 bills but the thing is, it doesn’t help us get to our real cash flow balances. Take note that availing that installment bills payment only delays our liability. If you have allotted money for bills, pay them so that your allotment doesn’t go elsewhere or you might end up spending that to whatever it is intended to. You must be smarter with what to do with your money.

2. Identify and Plan your Fixed Cost

Every month, we have what we call non-negotiable expenses that needs to be covered first. These are monthly rent/mortgage, electric and internet bills + food budget. Regardless of how much or less you earn on any particular month, this is the amount that you should not miss having. Bank of America once shared how you create your own budget and part of it was listing down our fixed expenses. If you don’t know how to create one, slide on my DM and I will help you with that.

Rod Magaru Managing Your finances
3. Watch your online shopping spending.

So now you’re enjoying online shopping at the comforts of your bedroom. That has got to change. If you think that you score from buying clothes and shoes on SALE last season, think again. Use this lockdown as an opportunity to cut cost. We are not going anywhere to flaunt our new shoes. Even our meetings are now online so no need to buy additional pairs that you will end up selling when you no longer need it. Only buy the essentials such as food and vitamins. According to, consumers shopping habits are changing this 2021. Consumer want products that help them stay comfortable at home.

Rod Magaru Managing Your finances


4. Get an Insurance and/or investments.

Regardless of your civil status, investing on life insurance gives you the ability to fulfill your financial obligations in the future. At the same time, you are covering your families from future unexpected spending such as getting infected or even death. There are life insurance policy that also into investment where your money. I have one policy in PRU LIFE Financials (thanks to my friend Ely) now that allows my money to get invested with a minimal risk.

Back to my credit card spending habits back then, I get to the point that I even use my cash advance from my credit card which yields higher interest rates. But I glad to have bounced back by sacrificing all my luxury. I cut them all and settle my credit card bills. Then I did all what I have mentioned above. But what is more helpful when I was trying to get out of my situation is to read tips from the expert.

Budgeting is nothing but a challenging yet rewarding activity. In order for you to achieve that financial freedom, we must manage what we have to do with our current resources, regardless how big or small it is. Of course investing or venturing into businesses are a totally different topics but when you get to know your current obligations, you will be able to manage your finances with your own little way.

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Rod Magaru is an award winning content creator based in the Philippines. He blogs about lifestyle and Entertainment and is known for breaking news on new projects in TV, Movies and reviews of products, hotels and awesome travel tips. He is also a Social media strategist, accepts hosting & speaking engagement. For inquiries email [email protected]