For the past three years, I’ve been paying P126 per week for each kind of newspaper delivered to my doorstep. That’s P6,552 per year, P13,104 yearly on two newspaper subscriptions. Aside from that, I buy Forbes, Fortune and The Economist from the newsstand when I like the cover.
Lately, I realized that I can save more than 40 percent by subscribing directly from these companies instead of buying from the neighborhood delivery boy (in my case delivery lola) or getting my copy while waiting for my turn at the cashier in the grocery or the bookstore. Even better, I can save 100 percent by reading articles online via their websites or subscribing to their RSS.
I work for an online media publication so that was, of course, a duh moment! My rationalization was that the adverts are news for me too, so I did need the hardcopy of the newspaper. Plus, I wanted my 13-year old daughter to talk intelligently about GDP, inflation and what’s going on with San Miguel Corp. as well as the newest stuff from Pugad Baboy without having to spend too much unmonitored time on the Internet.
Breaking the news to my newspaper delivery lola, though, was very tough. I almost decided not to go through with my plan just to avoid disappointing her! I don’t even want to remember the look on her grandson’s face.
But I did it. I cut my subscription for one newspaper and thanked the IT lords for this thing we call Rich Site Summary Really Simple Syndication (you can tell I’m not a techie, huh) or RSS. Then I subscribed directly to the other one and found out, to my consternation, that for three years I had been paying P13,104 and was not getting what I was paying for! For that price, I should have read Sunday magazines and other inserts that I was not getting from the newsstand.
I also discovered that many online publications offer more features than their print counterparts, like the Wall Street Journal, International Herald Tribune, and the Daily Tribune. Free stuff with more value! Fifteen years ago, that would have been unthinkable, but that’s technology for you.
Managing subscriptions and limiting media is an almost painless way to free up quite a substantial amount of cash. I saved enough to buy some more shares in a mutual fund company.
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Every fourth week of the month, I will share tips on being frugal and give you all a chance to share yours.
If you are a blogger, simply write your tip in your blog on the same week, and send me a link by emailing lightdream (at) gmail (dot) com. For blogs on personal finance that I constantly read, no need to send me the links. As our personal finance article from MoneySense today says:
Money is a struggle many people face, and the struggle becomes more difficult when you don’t really have any idea where your paycheck goes. But saving is not only good for your wallet – it’s also good for your mind.
More frugal living tips from the article here.
The best frugal tips from MoneySmart readers shared at the end of my previous post on Misers and Money:
Edzmaya: Commute, use common plastic bags instead of buying garbage bags, recycle post-its, recycle gift-wrappers, ribbons and gift embellishments.
Nina: Don’t withdraw from other banks’ ATM.
Omski: Turn off lights and electric fans after using, fix leaking faucets, use fluorescent lights, walk more, do garage sales every two years and don’t spend the earnings, bring a list to the grocery and stick to it.
Eicon Aviva: recycle Christmas gifts.
AJ: Put water on ketchup bottle to empty it, make fried rice from leftovers and recycle plastic and glass bottles, styro, trays, old school bilaos and other stuff from take-out food.
You know those termites that eat perfectly good looking blocks of wood? Sometimes, our personal finances can be like that. We don’t realize that we are losing money from little stuff that we have overlooked. So share your tip so we can all keep the financial termites away!
March 3rd, 2008 at 7:19 am
as for ATMs,set for just two ATMs kasi the more ATMs you have…the more u have to spend for the monthly fees.
Credit card is ok but not good.(personally)if you have good discipline in money,you should be saving.Honestly,credit cards rip u off with their interest rates.Why pay up interest..bank it on!its good for emergency but not for a long time.CCs also have monthly fees etc…having a credit card only adds liability.If u need money,dig from your savings account coz that’s what it’s meant for.No interest fees pa!Or go for a cheaper personal loan from your bank…lower interest pa.
Avoiding CC temptation (if u already have)??..have it frozen in the fridge—won’t destroy it.use it only when in ,uhhhhmmmmm emergency.
One more thing…two credit cards?bad idea.kick off the other one.
Try to avoid using the ATm…as much as possible,encash ur money intended for a week—that makes budgetting easier and better.
March 3rd, 2008 at 7:06 am
in doing the grocery,try to make a list and try to stick with it (but be flexible naman).bring a calculator!look for discounted items…
pag dalawa in the household ang nagwowork—make the 1st sweldo to pay for all the bills +grocery and the next sweldo all up for savings!if not –try,50% savings of the second sweldo then gradually to 80% then 100%.its not impossible because we have been doing that for a while –well,few months na and doing great.
cut out the sodas and the fizzy drinks like coke or pepsi;more water please!pwede if during weekends.but go for water of juice;healthier and inexpensive pa.go for powder juice as cheaper.
if you work long hours and need to eat at ur offce or workplace,pack a lunchbag!or make a sandwich.always have a fruit kasi it gives u xtra energy …
and for the sales (midnight,3-day etc) around,restrain urself!!!!they are unnecessary xpenses…try to make planned shopping (say by Xmas or by opening of school)…that cuts out impulse buying!
March 3rd, 2008 at 6:48 am
that’s a lot for just the papers!
i don’t subscribe to newspapers anymore thought i still like the ol-style of flippin the pages…if ur on internet,you can always go thru their websites!that’s a lot of difference,without feeling the bite of the fees…from CNN,BBC,abante,inq.,abs-cbn,gma, etc.
and save the fees for special tuition for your kids like enrolling her/him to violin,swimming ,gymnastics lessons!..i did that to my two sons and am so proud and happy of their weekly improvemts.
as for me,i don’t ever feel hiya or under pressure going out with 500 pesos even on malling with kids…that’s a challenge for me!that’s how your discipline is tested.
saving money is a tough discipline but the end result is far satisfyong.kahit nakatsinelas at pa-ice cream ice cream lang…ok na.That’s why,before going out…eat a hearty lutong bahay meal..hehehe.then bring ur own bottled water…so what?who cares?
with 500 pesos,100 sa jip,100 sa toys,100 sa pagkain and 200 sa anik-anik.
February 28th, 2008 at 9:21 am
salve, i have been soooo busy, just got to check your blog today. i love this topic.
having only P500 makes me very insecure when i go out of the house. but, it actually really helps in minimizing purchases at the mall or at the ukay-ukay. so, that’s what i do to save.
also, my husband and i have agreed that if either of us buys a WANT, we have to save the corresponding amount in our “non-withdrawable” savings account.
and yes, only 1 credit card is brought at all times for emergency purchases; ATMs and 2 other credit cards are kept at home.
like you, i used to buy all these interior magazines from the magazine shops - laki ng gastos! decided to subscribe and pared down to only my 4 favourite mags (actually, still magastos, but so much cheaper than what i used to spend)
re newspapers, i don’t buy anymore. i just watch the news and surf the internet. i miss reading the papers actually, but money intended for newspaper purchases (we used to buy 3 kinds) is set aside for xmas spending - you won’t believe how much that can help!
it’s fun to shop; but, my husband and i feel good when we’re able to “temper our greed” he he he
best regards!
February 27th, 2008 at 3:27 pm
Quicken is good but it’s not free. Use this free app instead.
http://jgnash.sourceforge.net/wiki/index.php/Main_Page
I’m not sure if it works for mobile devices though. For that, you have MoneyManager. Just input things on the go
http://www.getjar.com/products/944/MoneyManager