Philippine National Bank headed by bankero Jose Arnulfo “Wick” Veloso urged Filipinos to make it a goal the habit of saving up simply by “Huwag kang magpa-budol.”
Budol used to mean an impulse buy, but since everyone now is into online shopping due to mobility restrictions caused by the COVID-19 pandemic Filipinos now call their goodies “budol purchases.”
The Lucio Tan-led bank shared tips on how to avoid overspending this year.
For one, the bank said Filipinos should identify their spending triggers.
“Always add to cart with a clear head! It’s often better to save up, than spending while caught in the moment,” PNB added.
Another tip was “buy once, buy well” wherein consumers should stick to quality over quantity.
“Invest in items that will last, rather than buying multiple times down the line,” PNB said.
The listed bank also encouraged Filipinos to keep track of their payables.
“Don’t delay payments! Immediately pay off what you can, so you can be flexible on future purchases,” PNB shared in its Facebook account.
The bank also urged Filipinos to make smarter investments.
“There are things worth saving for! Develop a good savings habit, so you can work up to your goal,” PNB said.