So, Michelle, tell us about your spending habits. Which items do you heavily spend on? What item would you consider a splurge or luxury?
When I was still single and employed full-time, I spent heavily on dine-in or take-out meals and booking a ride to and from work. But now that I am married and working from home as a digital marketing consultant, I spend heavily on food na lang like groceries so I can just cook meals for me and my husband since I love trying out different recipes. But on the days when I am busy with work, I opt to have food delivered to our place.
Growing up, we were taught to save naman, but not on food. So for me, I really splurge on good food. Aside from this, I now splurge on good skincare products ‘cos I am not getting any younger. [Laughs]
Have you ever obtained a large sum of money, only to spend it all? What did you spend on?
When our mom passed away, we sold our house, and the money was divided among us siblings. When I received my share, I invested a bit of it in stocks, index funds, rent, and a property. Then I spent most of it on staycations and travels abroad.
It took more than a year to spend what I got. After it ran out, I realized that while I enjoyed traveling, I spent more on it than I should have because it felt like I had so much money. My only relief was that I saved a little, and some of them are investments that will mature over time.
When was the moment you realized you have to save money?
5 years ago, when I decided to live independently. I realized that I only have myself to rely on to continue living. This was when I was still single. But now that I am married, I have to save up for my family’s future.