Your first home? Rework your expenses to get it

MANILA, Philippines – For many professionals and executives, the task of finding their very first condominium to call their own may seem daunting (mostly due to budget restrictions).

This may be hard to believe but by cutting down on certain lifestyle expenses, you can actually invest in buying your first home.  

Read: Makati City living to match your lifestyle

If you handle your money wisely and find a developer that offers flexible monthly payment schemes through terms such as 0% interest rate, no down payment, and no lump sum payments, you can actually afford to live in your own condominium for as low as P15,000 a month. 

For example, Megaworld offers condominiums strategically located around the Makati Central Business District (CBD). These developments provide its residents the convenience of living in a secure, central, and premier location, with the comfort that suits their lifestyle needs.

Life under P15k

Since it is easy to get so preoccupied with the daily grind and your everyday routine, many young professionals rarely get the time to step back and calculate monthly expenses. What you don’t realize is that your small indulgences add up, and if directed elsewhere can actually go into buying your own flat.

Below is a rough breakdown of the the “non-vital” monthly expenses of your typical male and female working executives.  

Investing: now vs the future

It is understandable why most mid-level executives choose to spend their hard earned paychecks on nights out with their friends or a shopping spree at the mall. It’s the thrill of instant gratification, the literal fruits of your labor.

However, when you realize that your monthly leisure expenses can actually go into investing in something more long term, it makes you think twice before you spend on your daily lattes and weekend movie tickets. 

So the next time payday comes around and you are about to pay for a round of drinks on another night you won’t remember, ask yourself, “Am I more interested in the now or in the future?”

Just remember, by cutting down on your leisure expenses, your daily budget can actually go into buying your first home.  

After all, now that you’ve been working your way up the corporate ladder, it’s about time you reap the benefits of your hard earned money. –Rappler.com