LIST: Three wise money-saving tips from smart savers

Marj Casal Handog, Rappler.com

This is AI generated summarization, which may have errors. For context, always refer to the full article.

LIST: Three wise money-saving tips from smart savers
They also share how their go-to banking app has been helping them with their financial goals

Editors note: This content is sponsored by Maya and was produced by BrandRap, the sales and marketing arm of Rappler. No member of the news and editorial team participated in the production of this piece.

Now that the year is coming to an end, you might be thinking of what your New Year’s financial resolutions should be for 2023. Look no further! We asked three smart savers to share their effective but realistic money-savings tips as well as their new partner in helping them achieve their financial goals – Maya.

Tip #1: Make saving a non-negotiable part of your routine

For 22-year-old “part-time” content creator and fresh grad, Nicole Alba, saving is a non-negotiable. She jokes that she is a massive “hoarder” so she genuinely enjoys the process of saving. Aside from seeing her money accumulate, Nicole shares that another thing that motivates her is having a purpose for saving. 

“It’s helpful to have a purpose for saving – whether it’s for a big-ticket item purchase in the future, a travel plan, a gift for a loved one, or for your future retirement plans,” said Nicole.

Her greatest “hack” for saving is integrating the habit into her routine. Here are some of her tips on how to do that:

  • Determine an amount that you know you can commit to on a regular basis (ex. P20 per day, 10% from every paycheck, 50% of every side hustle income stream, etc.) and just execute!
  • Automate processes (ex. Schedule automatic transfers from your online banking app to your savings stashes) so that you reduce the opportunities for your brain to make emotional decisions. 

For Nicole, having an app like Maya helps support her financial goals. Aside from the high interest rate that protects her savings from inflation, Maya’s features also match her saving habits especially with the app’s Personal Goals feature which lets users save money for different life goals. 

Maya currently offers up to 6% interest per annum on your savings, credited DAILY. Start off at 4.5% and quickly increase this to 6% in the next 30 days by paying with Maya for your everyday transactions. Simply spend an accumulated amount of P250 when paying for your purchases via Maya QR, card, or mobile number, buying load, or settling your bills via the Maya app. This offer is available until January 31, 2023. 

Tip #2: Gamify the process of saving

Entrepreneur and finance content creator, Charm de Leon, shares that her wise money-saving tip is to keep it fun and exciting. She leverages on her competitiveness to grow her savings. 

Some of her sample saving challenges include:

  • 52-week money challenge
  • No spend month

She also likes keeping a separate account for her savings so it’s “out of sight, out of mind.” “Once it’s there, don’t keep on checking and don’t spend what’s in that account. You’ll be surprised at how fast it grows,” said Charm.

Like Nicole, Charm has partnered with Maya to help with her financial goals. Maya is her separate jar for the money she saves for investments – one of her personal goals. She likes that the high interest rate helps her savings keep up with inflation. 

“I also [like] the ease of use – being integrated in the Maya app, being able to pay bills (and earn cash backs) and having a clean and simple design that’s very beginner friendly.”

Apart from saving, users can also use their Maya account to pay for their everyday essentials, send money to their loved ones, buy crypto, and get a credit line for emergency expenses. To top it all off, paying with Maya is not just safe and convenient – it also lets users earn rewards like free bitcoin or cashback!

Tip #3: Choose to save in a bank that helps you be disciplined with your money

At 32 years old, Redjine Cruz wears many hats – she’s a CEO and president of three corporations, a business development consultant, a graduate school professor, and a mom. But despite her multiple sources of income, Redjine stays disciplined with saving.

She found that saving with Maya helps instill that discipline in her. “My basic financial goal is to always have reserves in case of emergencies and Maya helps me with that,” said Redjine.

Some of her money tips are the tried and tested ones:

  • Transfer a fixed amount on a daily basis to increase the generation of interest.
  • Be disciplined with saving and spending

Apart from Savings, Redjine also uses Maya’s pay bills and fund transfer features. Recently, Maya introduced a personalized and convenient way to send money to your friends and family through its @username feature. 

Much like tagging families and friends on social media, Maya users can now use their @username when requesting payments – taking out the need to input 11-digit mobile numbers. With this feature, users can keep their personal data private, such as their account name and mobile number.

Redjine doesn’t just use Maya for her personal transactions. She also uses it for all her seven businesses. This makes it easier to stash her salary as CEO into her Maya savings account where it can earn higher interest rather than in a traditional bank.

Keep your savings protected and secure with Maya

These three smart savers may have different money habits and goals but all of them agree that Maya is one of the best partners they can have. With Maya’s high savings interest rate, nifty features like Personal Goals and Send Money via @Username, rewards, and more importantly, security, Maya’s making money matters cool. 

So, if you too, are looking for the best way to save and grow your money, open your savings account today to enjoy up to 6% p.a. interest rate paid out daily, set your savings goals with their personal goals feature, and take advantage of other services like bills payment and secure fund transfers. 

To know more about Maya, visit https://www.maya.ph/. – Rappler.com

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Maya is the all-in-one money platform bringing Filipinos bolder ways to master their money. It is powered by a unique integrated financial services ecosystem that addresses the ever-evolving financial needs of today’s generation through cutting-edge technology. Maya leads millions of Filipinos — consumers, businesses, communities, and government agencies alike — into a digital economy that’s more inclusive, transparent, and empowering. Maya is powered by the country's only end-to-end digital payments company, PayMaya Philippines, and Maya Bank for digital banking services.