Our curiosity about millennials’ spending habits continues. Last time, we asked a manager how she manages her money on a day to day basis. This time, we got a data analyst to share about her financial situation and how she is able to save up.
Occupation: Data Analyst
Industry: Oil & Energy
Location: Pasay City
Monthly Salary: P30,000
Paycheck Amount: P34,000
Bonuses: 13th month, Christmas Bonus, Performance Bonus usually P30-40k
Since she opts to live with her parents, she doesn’t pay rent for now but she is actively saving up for her own condo, which will be turned over to her in 2021. She pays for her phone bill and Spotify subscription, while utilities, water, and electricity bills are covered by her parents. Health insurance is covered by her company and she donates P400 a month to WWF. Because she has no car loans and her expenses are already covered, she is able to put aside up to P10,000 a month.
“Usually I get massages, go to beach trips, nail salon, shopping, and for extra treat days I get a massage, doesn’t matter where.”
Like a lot of millennials, she loves to travel and pamper herself with massages, skincare, and makeup. Her trips abroad include Hong Kong and the U.S., but since her dad works for PAL, they don’t shell out a hefty sum for tickets. She loves to relax by getting massages which can cost around P700 to P1000, while her nail salon trips twice a month add up to P500. When she dines out, she usually only spends up to P1000. One of her hobbies is shopping for herself- this already includes clothes, skincare, accessories, and makeup which can add up to P5000 per shopping trip..
“At the mezzanine of the building where I work, there’s a stall that sells chicken popcorn, you can choose from variety of flavors like Italian cheese, nori, spicy etc. It’s so good. and they have sides like mojos or fries which you can combine with the chicken popcorn. It’s easy and way faster to eat and most of all its cheap.”
She spends P2000 per month on her groceries. She usually buys her breakfast at her office mezzanine, which is around P50-P75. For lunch on a regular work day, she and her colleagues eat out at a fastfood chain or just have it delivered.
Diary for a Day
“My shift is from 3pm – 12 am. I sleep at around 3am and I wake up at 12:30pm, workout for around 15 minutes and rest for 15 mins, at 1 pm I take a bath and prepare for work. If I choose to take grab to work, I can leave at 2:30 pm, that could cost up to P200 but if would commute, I take the LRT, which is P20 and then take the bus for P12 and walk for 5 minutes to the office. The P170 savings can make up for the longer commute.”
She takes her dinner at around 7pm at a fastfood chain since it’s convenient and doesn’t cost much then goes back to work at 8pm. Her shift ends at 12am in which she goes home via a company shuttle, evading rush hour traffic but enduring a later end to her day.
While this working Filipina’s lifestyle can be different from ours, it gives us an idea on how millennials with different backgrounds make financial decisions. It’s an opportunity for us to learn a thing or two from each other and perhaps realize that despite different incomes, we are more similar than we think.