Sulit-spotting in three easy steps

MANILA, Philippines – “Paano ba yumaman?”

If this is a question you frequently ask yourself, then registered financial planner Fitz Villafuerte is your guy. A civil engineer by training, Fitz first worked in a corporate setting before finally deciding to become an entrepreneur. His ten-year-old blog chronicled his transition from a salaried employee to a financially savvy entrepreneur, as well as candid accounts of his ongoing financial journey. His relatable stories and simple tips help out thousands of readers change their mindset about money management, one small step at a time.

“I always tell people that they don’t need to be trained accountants or economists to be good at managing their money,” said Fitz. “If you’re wondering how to be wealthy, the answer is simple: spend less of what you’re earning then invest the rest.”

This self-taught expert wants to make financial management as painless as possible not only for himself but to every Pinoy interested in doing better, money-wise. He sees great opportunity for Filipino millennials to start being smart about their finances through simple, hassle-free ways.

 Rethinking ‘sulit’

Low prices will always be attractive to cash-strapped millennials—but for Fitz, cheap does not automatically equate to sulit.

“Price shouldn’t be the only consideration,” he said. “We have to think of the quality and the value we get out of anything we pay for. If it offers the best quality and value for the price I can afford, that’s sulit for me.”

He breaks down “sulit-spotting” into three easy steps. First, know exactly what you are looking for to establish your “minimum requirement.” Second, look at the available options that fulfill the minimum requirement and offer long-term value. The price should be the final criteria, Fitz said.

He further elaborated his simple sulit-spotting process with a common situation for many Pinoy millennials in the workplace: where to buy lunch from, especially when one is on a tight budget.

“The minimum requirement is the meal you choose should be nakakabusog. If you go to Jollibee, they have options that go beyond your minimum requirement; masarap at nakakabusog. Then for price, they have the JolliSavers for only P50.00 or less. Why is a JolliSavers meal better than the cheaper options out there? The JolliSavers are delicious and satisfying—like the Burger Steak, Jolly Spaghetti, Jolly Hotdog, and Yum Burger, for example—and they are prepared with high-quality ingredients in a sanitary environment. The dirt-cheap meals sold in places without a reputation for quality and safety might make you sick and that’s more expensive in the long run,” Fitz explained. “So, yes, the JolliSavers are truly sulit because they offer great quality and value at an affordable price.”

Becoming more savings-savvy

The latest JolliSavers commercial brings to mind a word that many Pinoy millennials dread: petsa de peligro, or those precarious few days before payday when many of them are broke. This is a cycle that can be difficult to break away from, but Fitz offers millennials a simple advice: save first.

“Take ten percent of your income and tuck it away first,” he said. “Then you’re free to spend everything else. For example, if you have P20,000 per month, save the P1,000 per cut-off and then spend everything else. Saving can be as painless as that.”

When asked about other saving “hacks,” the financial guru offers a fun twist to a common tip.

“As always, anything you buy in bulk is cheaper,” he said. “If you want to travel, travel with friends because that will save you a lot. If you want to eat out, eat out with friends. Do things together with a group whose company you enjoy and save at the same time.”

Ultimately, this entrepreneur and financial planner believe that millennials should constantly challenge themselves to become money-savvy while they are young, especially when they can still afford to take risks and invest in enriching their knowledge and skill sets.

“The reward for being smart about spending and saving is being able to make the most out of your money. This way, we can afford to buy more and spend on memorable experiences,” he concluded.

Go sulit-sarap today with the JolliSavers—for only P50.00 or less, you can enjoy your favorite Jolly meals like the Burger Steak, Jolly Spaghetti, Yum Burger, and Jolly Hotdog even if it’s not payday!

The JolliSavers are available for dine-in, take-out, delivery, and drive-thru transactions in Jollibee stores nationwide. Like Jollibee Philippines Facebook page or follow @jollibee on Twitter and Instagram.

Learn more about financial wellness and planning through Fitz Villafuerte’s blog, Ready to be Rich.

[Editor’s Note: This post is in partnership with Jollibee Foods Corp.]