Try your hand at these time-tested tips to save money.
Cut down on expenses.
Take a look at your monthly expenditures. Eliminate the luxuries -- designer items, for instance, or your daily fix of expensive coffee. Retain only the things and activities that you need. Consider whether you can replace certain expenditures with cheaper alternatives. For instance, the gym membership: replace it with running at a park, instead, or doing your sit-ups and crunches at home.
Learn how to budget.
Categorize all your expenses. Allow yourself only a certain amount to spend per category per month. Keep track of how much money you’re spending by jotting down every purchase and expense. Look to apps to help you finance or keep your records. Either way, the important thing is to maintain an ongoing tally.
Cut back on going out for entertainment, leisure, or recreation. Eat out less, for instance. Don't go to the mall on the weekend; instead, stay in and occupy yourself with indoor hobbies. Allow yourself only a certain number of times to go out every a week or every month. Stick to that number, and stick to a certain budget for each outing as well. Bring only that amount of cash with you and leave your credit or debit cards at home, to keep from temptation.
Save energy and cut back on your electricity costs by switching off lights and unplugging electrical appliances when not in use. Opt for using the electric fan instead of the air-conditioner, which could cut your bill down by thousands of pesos. Save fuel as well: walk or bike to your destination, or use public transportation, instead of hopping into your car.
Don't use your credit card.
Refrain from using your credit card: it is, as they say, spending money that you don't have. Homebuyers should be debt-free when they commit to a purchase. Rather than using your credit card, your efforts should go toward paying off its debt, instead.
Set aside bonuses.
Instead of splurging on a big purchase, use your Christmas bonus and 13th month pay at work toward your downpayment.
Switch to a better bank.
Compare interest rates and fees across the banks available to you. Choose the one with lower fees, better interest rates, discounts, and other incentives.