Expenses a Pinoy Millenial Can Forgo To Own a Flat



Can the ordinary Pinoy Millenial today truly afford his or her own place?

Are the twentysomething’s of today’s generation truly capable of having their own condo unit?

The truth is, most Pinoy millennials can already afford to have their own flats especially with the way some are earning today. But years and years of ingrained tradition wherein we usually stay with our parents until the day we get married before we move out has become a rather impeding factor for most Pinoy millennials in making a worthy investment. Unlike westerners, Pinoys have this unfortunate notion that residential independence begins after marriage.

A rather startling thought considering that some of us are already financially independent, sound and capable. However, this is not the only major factor in preventing millennials from investing in having their own place. In fact, research has indicated that Pinoy millennials put more value on instant gratification rather than save their money for an investment that would outlast the temporary things they spend on.

However, if you truly want a place to call your own, you may have to curb your expenses on unnecessary stuff and invest in something with value and degree longevity. This might mean curbing the expenditures on a superfluity of unnecessary, extravagant items, but it will be worth your while. Here is how to start:


Millenials look forward to Friday nights as it allows them the opportunity to unwind and catch up with friends. More often than not, what goes on is either a dinner affair together, a movie then perhaps a round of drinks for a nightcap. All these can roughly cost you an estimated five hundred pesos at the very least.

So, instead of shelling out cash just to catch up, why not whip up a sumptuous dinner at home and invite your friends over? Ask your friends to bring over their favorite DVD’s for you to watch and since you are hosting dinner, why not ask them to bring a few drinks as well? Should your Fridays be spent like this, you will be saving a whole lot more than you initially imagined.


Most millennials contemplating on marriage would save months and months of their paychecks just to present their fiancées with a sparkly bauble. True enough, sparkly engagement rings may have persuasive value albeit expensive, are attractive and does increase in value over time but choosing to invest on a pretty rock rather than a livable space you can share with your spouse seems rather impractical.

Additionally, as you and your fiancée are about to start your life together, wouldn’t it make more sense if you thought of getting your own place as well?


In an era where everyone seems to be having smart everything from smartphones, smart tabs to smart TV’s, it seems everyone is making less than smart spending decisions. As millennials are constantly exposed to techy, fresh and trendy innovations in gadgets, more and more of them want to keep up with the trend. They needlessly buy new phones or tabs even when they have a still functioning one and simply brush this expenditure off as an “upgrade”, but the reality is, the developers of these techy gadgets release new models each year, prompting consumers to “upgrade and update”.

Consider this, if you add up the fortune you have spent in the last five years in updating your phones, tabs, gadgets, etc., you would approximately have enough to make a down-payment for a condominium unit. Still unconvinced? Then consider that these gadgets depreciate over time as they are constantly being replaced with newer and fresher models while condo units or a real estate venture can only increase in value.


Try visiting your local flea market and you will discover hordes and hordes of branded items for a whole lot cheaper. What’s the catch? Well, they are all simply “pre-loved” which is basically semantics for used and secondhand.

However, if wearing used clothes is not your thing and makes you uncomfortable, wait for a big sale instead. In this way, you do not have to break your wallet just to buy brand new.


Long holidays are something most millennials look forward to as it provides ample time for them to pack their bags and go on an out of town trip. Other times, when millennials do need to unwind, they would not hesitate to book and schedule a trip out of town. These trips are not cheap and by refraining from scheduling a trip out of town every long weekend, you can save a fortune.

The expenses on this trip are rather big especially when accumulated at the end of the year. So, instead of booking vacations, why not reserve this for special occasions such as anniversaries and birthdays? If you do have the pressing need to unwind, have a staycation and search for places you can visit in your local area.


Owning your first flat and house requires a lot of effort, discipline, and finances on your part. This means making the necessary sacrifices on your part and forgoing instant gratifications for a delayed one. Delayed gratification is a great thing and though it might cause you to wait impatiently, consider just how rewarding it will be once you finally acquire your dream home. Start saving today and who knows? You might just have enough money to buy from a developer pre-selling condos.


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