5 Money tips to follow this Ghost Month

There’s no doubt that Chinese culture has a big influence in many countries, including the Philippines. Even today, many Filipinos continue to practice pamahiin mixed with Chinese beliefs in order to draw in good luck and avoid bad luck. An example of this is the observance of the Ghost Month.

The observance of Ghost Month in the Philippines originates from Chinese Buddhist and Taoist influences. During this time, many believe that the gates of the Underworld open up and evil spirits bring bad luck to the mortal realm. It officially begins on the seventh month of the Lunar calendar and this year, Ghost Month will start on August 22 until mid-September. Many people lay low during Ghost Month to avoid running out of luck. After all, there is no harm in being extra careful.


Worried about the upcoming Ghost Month? Just follow these money tips to keep your finances safe during any period of uncertainty:

1. Delay your purchase on big-ticket items

Ghost Month usually brings slowdown and uncertainty. Take this time to think through and plan your purchases especially big-ticket items that are not urgently needed. If you’re thinking of buying a new gadget but you’re unsure about your budget, postpone your purchase to the following month when you are more certain about your finances.

2. Reassess your business plan 

Starting a business during Ghost Month is often ill-advised as most investors usually take a break during this time, causing a slowdown in the economy. This is a perfect opportunity for you to iron out your plans and make sure that you have everything all set when you finally launch your business.

3. Steer clear from unnecessary debt 

Apart from impulsively spending huge sums of money, borrowing money during Ghost Month is probably not the best idea especially if it’s for an unnecessary purpose. Instead, prioritize your needs and hold-off any big spending until things start picking up. 

4. Spend only on things you need

When budget is tight and things are slow, it’s best to give more focus on what you actually need. Prioritize the most important expenses instead of buying non-essential items. It can be as simple as cutting back on eating out or settling your monthly bills first before spending your income. 

5. Start building your emergency fund.

Ghost Month happens every year and you may encounter many other slowdowns in the future. That’s why it’s important to be prepared. Start building your emergency fund by setting aside at least 10% of your take-home pay each time you receive your income. Do this consistently and before you know it, you’ve saved enough money to last a rainy day!

Apart from starting your emergency fund, make sure that you’re putting your savings where you can get more value for your money. With CIMB Bank, you can enjoy the best-in-market interest rate of 4% p.a!


You have three ways to enjoy higher interest. First, is to maintain minimum balance of PHP 100,000 in your UpSave and/or GSave account. Your second option is to grow your Average Daily Balance (ADB) by PHP 1,000 each month in your UpSave and/or GSave account to enjoy a higher rate on your savings. Plus, if you maintain a minimum of PHP 5,000 in your account, you are eligible for FREE Life Insurance coverage that’s worth your ADB up to PHP 250,000.


If you’re a student or a fresh grad aged 18-25 years old as of July 1, 2021, the CIMB Savings Starter Pack lets you enjoy a higher interest in your UpSave and/or fully verified GSave account. You only need to deposit at least PHP 500 each month and you can even get a Personal Accident Insurance coverage worth PHP 50,000 for FREE.

Find out how to get 4% p.a. interest when you maintain PHP 100,000 in your savings account with CIMB Bank:

Click the link below to know how you can increase your ADB by PHP 1,000 to get 4% p.a. interest

Learn more about the CIMB Savings Starter Pack when you visit the link below: 

Seize your life’s goals with CIMB Bank! Download the app and open an account now. 

CIMB Bank Philippines Inc. is regulated by the Bangko Sentral ng Pilipinas. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or consumeraffairs@bsp.gov.ph.