Editor’s note: This press release is sponsored by Home Credit Philippines and was handled by BrandRap, the sales and marketing arm of Rappler. No member of the news and editorial team participated in the publishing of this piece.

Millennials and Gen Zs are the generations that grew up with social media. While millennials have seen how social media platforms have evolved throughout the years, Gen Zs, on the other hand, were born right into the heart of the online world. 

With the amount of time both generations spend online, it is no surprise that millennials and Gen Zs are most prone to the mindsets of You Only Live Once (YOLO) a.k.a living excessively at the moment, or the Fear of Missing Out (FOMO), the desire to constantly keep up with others. 

YOLO and FOMO can drive anyone to make impulsive decisions that often include major expenditures to satisfy desires. It’s also good to spoil oneself occasionally. However, it is still important to live within one’s means and practice wise spending.

Be mindful of your shopping habits

These days, we are just one tap away from purchasing what we want online. But before we hit that place order button, we should ask ourselves first: Am I just making this purchase purely out of impulse? Do I need this? Can I afford this? 

There’s no denying the excitement of instant gratification, but it helps to be a little watchful of those budol purchases. With big purchases, it’s best to wait for a few days before clicking the check-out button. Better yet, check for promos and explore flexible payment terms that are more convenient for your pocket and budget. This gives you time to assess your intentions before making a huge expenditure.

Envy-induced FOMO is a strong force that can convince you to make an unnecessary expense on a whim, and if not carefully thought of, it might lead to regret.  

Track your spendings and set goals

Keeping track of your spending will help you where your money goes. Seeing how much you’ve been spending will help you see how much and how often you spend on your essentials versus your leisure. This also helps you budget your spending for the next month or up to a year, depending on how you design your tracker. 

Becoming more aware of your spending will make you a little money conscious. You can also set trips ahead, plan big-ticket purchases, and even set aside emergency funds. It can also help you manage your loans better which is part of your personal obligations.

Spend with a plan

It does not always have to be one all-out expenditure. Another way to manage huge spending is to pay in installments. This will give room for other leisurely or necessary purchases. 

Lifestyle partner of every Filipino Home Credit Philippines (HCPH) helps customers buy the things they need without hurting their pockets. The brand allows them to purchase items such as home improvement essentials, gadgets, or even sporting goods in a flexible payment term of up to 18 months. 

Home Credit also has a mobile application, My Home Credit app, that lets customers pay for their items, track their loans, and find the best deals in the marketplace. Users can enjoy several benefits such as five percent discount when buying load to any network, zero additional fees when paying bills, 5% discount when paying for items through QR codes, and other exciting promos.

‘Home Credit, Para sa Life’

Home Credit recently launched a campaign called Para sa Life which shares an important message of hope for a better life for Filipinos. 

With the hope to inspire new beginnings, Home Credit positions itself as a reliable financial partner that assists Filipinos as they begin a new chapter in life. Apart from providing financial assistance and literacy, Home Credit aims to empower Filipinos to claim what they deserve and to jump-start a new life through various opportunities they offer. 

Explore more of Home Credit’s products and services by visiting their official website www.homecredit.ph. You may also follow them on their official Facebook, Instagram, and TikTok accounts. Download the My Home Credit app on Google Play and get notified of the latest promos and what’s new in the Marketplace. – Rappler.com