Career & Finance

40 Financial Habits for Life

The number 40 generally pertains to a period of testing and battle in the Bible. With this, I created this post, 40 Financial Habits for Life.

Treat each habit as a test that will bring out your true character in the area of financial management. I hope that in one way or another these 40 Habits will be of a good help to you!

Let’s Begin!

  1. Know your Purpose in Life. This is the ultimate foundation of your financial outlook.
  2. Have a working Spending Tracker. Whether via notebook or a mobile application, make it a habit to list down all of the money you spend from the start of the day until before you sleep.
  3. Have a Budget. Budgeting is your way to success. There are a lot of ways you can do this.
  4. Develop a spending plan in your mind. If you track your expenses and budget daily for a year without a miss, then you’ll develop a life skill that will make you very successful in financial management.
  5. Stop living paycheck to paycheck. You are reserved for something greater.
  6. Take charge of your debt. You owe it to yourself and to the person or entities you are indebted to, to pay. It’s your credit so take charge of it.
  7. Don’t apply for a credit card unless you know how to use it properly. Credit Cards should not be taken as an alternative to cash.
  8. Create an Emergency Plan.
  9. Create a Retirement Fund. There’s no right age for you to plan for your retirement. As soon as you get your first job, you should be able to save for your future.
  10. Have strong goals. Goals will help you turn your imagination to reality.
  11. Have a second job. Do not just depend on a single income but rather achieve a second, or many sources of income.
  12. Limit your spending. Learn to spend only for items you need.
  13. Savings= Income-Expenses. Make sure to save first before you allocate your income to your expenses. This your way of paying yourself first.
  14. Invest wisely.
  15. Diversify your investments. Put your money in various trust fund enablers so you will have better chances to grow abundantly.
  16. Live a frugal life. Becoming frugal is all about becoming careful on how money will be spent.
  17. Save Automatically. If you have an online bank account, then try to take advantage of their automatic saving features. This will help you save effectively.
  18. Stop impulse buying. Mind over matter. Don’t let your cravings ruin your finances. Think about tomorrow as you spend your penny.
  19. Avoid debt. If you are aware that your financial status is not good and you can’t produce the money needed to pay your debt then, don’t create further debt.
  20. Do the envelope set up for your allowances. If, for example, your meal allowance is 5,000 pesos a month, make sure to have an envelope for breakfast, lunch and dinner.
  21. Support your financial knowledge. Read more about financial literacy.
  22. Stop your vices. Smoking and drinking cut a big chuck of your finances, so learn to stop your addictions.
  23. Go for discounts and free stuff.
  24. Stop eating out.
  25. Let go of things. If you have items you don’t need, then you might want to sell them through OLX, AyosDito or Ebay. This way, you get the stuff out and you earn too.
  26. Automate your bills. If you can apply for a trusted bank that offers automatic payment for your bills like PLDT, Meralco and your portfolios like FAMI and COL then do it. Automating your bill payment will save you time and effort plus assure that you will pay your bills well.
  27. Invest on things that appreciate in value rather than those that depreciate. Buy a property rather than a car.
  28. Have a clear outlook in life. Make sure that you have defined your attitude first so that it will be easier for you to take charge of your finances.
  29. Sacrifice to satisfy. If you can sacrifice some habits that waste your money then do it.
  30. Learn to say “No!”. The powerful two-letter word no can make a big difference in your everyday life.
  31. Your life versus their life. Stop impressing others but rather be a testament of how powerful saving is.
  32. Save Early. Time is highly dependent on money so make sure that these two factors meet.
  33. Save based on your salary.
  34. Create Money Principles that will work for you.
  35. Go for more affordable alternatives, if available. Research for equally great alternatives for things you want, but will cost you less.
  36. Master your Time. Once you are able to handle your time well, you become more in control of your finances.
  37. Earn from your talent. Know what you are good at, develop it, and earn from it.
  38. Stay Motivated. Always find inspiration from others or from your life goals.
  39. Try and Try until you succeed. If a certain habit or tip doesn’t give you a result then don’t hesitate to try other options until you succeed.
  40. Take time. Becoming wealthy doesn’t happen overnight. It will take time so be sure that you are ready to invest for the change.

Hope this post helped!


About the Contributor

Izza Glino is the lady behind SavingsPinay (A Financial Journey of a Common Pinay), a blog that gives financial tips and tricks for everyday living. She also owns a beauty blog called and a blog that gives free life courses to improve one’s being, A Journalism graduate from Polytechnic University of the Philippines, Izza believes that age should be a person’s greatest advantage. You are never too young or too old to dream.

This contributor is a customer of The Coffee Bean & Tea Leaf®.

See all of Izza Glino's posts →

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