Savings Rate

How I Found It Easy to Save 75% of My Income in 2020

I don’t monitor my savings rate, but based on my annual net income* and the increase in my net worth in 2020, it looks like I was able to save 75% of my salary per month on average.

This is a huge accomplishment for me because I am NOT the most motivated, disciplined, or focused person you could ever meet. I feel like the level of willpower I am able to expend at any given day is very limited. LOL.

I reflected on it, and I believe these are the 5 ways I was able save that much:

We have a small house


Our one-bedroom condo is less than 50sqm and the bedroom is only around 18sqm. Having a small house means:

  1. I am not inclined to buy stuff (e.g. furniture, appliances, home decor) because we have no space.
  2. Our electricity bill is low because we have fewer appliances and it doesn’t take a lot of energy for the A/C to lower the temperature of a small space. Our electricity bill is only around ₱1,800 (it goes up to a maximum of ₱3,000 in the summer).
  3. We consume less cleaning supplies and we don’t need to hire professional cleaners because there’s not much to clean.

I can’t imagine myself living in a bigger house anymore.

We don’t own a car

Before the pandemic, we thought it was wise not to buy a car because we live near our respective offices. I absolutely regret this decision (as well as not learning how to drive).

Driving to anywhere might have given me a respite last year when I felt like I was losing my mind. Not owning a car significantly affected (and is continuously affecting) our mobility.

I feel lucky that my husband and I are eligible to work from home, but earlier in quarantine we had to walk several kilometers to the supermarket. I could almost cry of happiness when supermarkets started offering grocery delivery services.

I digress. If there’s one good thing to come out of not being a car owner, it’s that we were able to keep our fixed expenses low. If we had a car we would need to either pay for parking rental or buy a parking slot. Parking costs ₱8k-₱10k/month in our building and if I had bought parking space along with the condo unit, we would also be paying for additional real property tax. We would also need to set aside money for gas, maintenance, and insurance.

I still prefer not owning a car and I wish PH government would prioritize fixing the public transportation system over building new highways.

Limited exposure to shopping cues

Social Media

For most of 2020, I was so busy with work to a point where it significantly reduced my exposure to shopping triggers (i.e., social media ads and influencer posts). I took it a step further by unfollowing celebrities and influencers who post mostly just ads and sponsored products.

We also don’t have tv. We have the device itself, but we don’t have cable subscription, tv plus, or satellite antenna. We only use the tv for netflix and youtube.

Tinodo ko na towards the latter part of the year — I unsubscribed from promotional e-mails and turned off app notifications for food panda, shopee, lazada, etc.

‘Out of sight, out of mind’ is key 😉

The gap between our income and expenses is wide

It felt easy to save without feeling deprived because my saving strategy didn’t feel restrictive. I move a fixed amount of money every month to a bank account as if I was paying a monthly bill. I spent whatever was left however I wanted.

It’s a more chill way to go about saving where I didn’t need to account for expenses. The latter takes so much of my brain’s processing power and I really REALLY dislike accounting for and logging everything 😭

This was feasible only because the gap between our income and essential expenses is wide.



The pandemic made me feel overwhelmingly grateful despite my challenges at work.

I don’t know how I would’ve handled it if the pandemic happened when I just started working, earning close to minimum wage, living paycheck to paycheck, by myself, with no emergency fund.

I am grateful no one in our immediate family got sick.

I am lucky I was born into a middle class family with parents who were able put me through college.

I am lucky I don’t need to provide for my parents. They prepared for their retirement and live healthy lifestyles (they don’t need maintenance meds).

I am lucky I didn’t get laid off. I’m lucky my husband also didn’t lose his job, else I wouldn’t have anyone to share expenses with.

So many things could’ve gone wrong, but didn’t and I’m grateful.

* excluding interest income and investment gains

4 thoughts on “How I Found It Easy to Save 75% of My Income in 2020”

  1. Pre-pandemic, I rarely, if ever, used online shopping apps. But I’ve found that pandemic life has forced us to buy even necessary stuff online. The water heater breaks, and there’s ECQ, we had to buy online. It’s crazy!

    1. True. I had to uninstall most of them from my phone though, because they’ve gotten really good with the push notifications and I don’t trust myself. Hahahaha.

  2. First time here. Living in Canada made me appreciate more the transportation in the Philippines. There’s always a way to go around the city without having to wait for a long period in a harsh freezing weather. You’ll probably have ride subway first than most of us Filipino overseas.

    But I do regret not learning how to drive in manual and driving in the city. I feel like I can drive anywhere in the world once I get to experience being a driver in congested Manila.

    My friend who drives in Manila can navigate her way around the city without relying much with GPS. As a commuter (I sold my car) I rely on Google Maps to get to places using public transportation.

    I’m glad to experience being a commuter and a car owner. I love commuting. Not being hyperactive about my surroundings and just enjoying the view and anticipating my arrival to destinations. But if it’s a must I appreciate having a car to get around especially in the province.

    And by the way, it’s not fun cleaning a car. I rather use my time in cleaning my apartment where I spend most of time relaxing and side hustling (blogging).

    What car do you like to have? I would love to have an electric car and electric scooter. 🙂 But first I must have a solar-powered house.

    1. Looking into getting either a second hand car or a more ecofriendly car as well. Not sure if it makes sense to buy an EV car here because no infrastructure yet. If PH roads are more bike friendly, I would prefer that 🙂

Leave a Reply