Millennial's Guide to Saving

One thing’s for sure, millennials don’t want to miss a thing. However, it is important to still keep your finances in mind, even while planning your next weekend getaway or going on a food trip. Here’s a millennial’s guide to help you save despite life’s hustle and bustle.    

1. Spend based on your values

Be intentional with your spending by reflecting on what is important to you and see if your purchases align with these values. For example, if you want to support local businesses, you would buy products that are locally and ethically made as much as possible. This way, you’ll be more mindful of how you spend your money. It will be easier for you to avoid impulse buying since every purchase has a purpose. 

2. Know where all your money goes

It’s not enough to just think about each purchase. It makes a big difference to also track everything you buy. Whether it’s in the notes on your phone or a financial app, listing all the things you spend on can help you become more conscious of your spending habits. It can even help to already include your budgets in your tracker so you can make sure you don’t go beyond it. 

3. Make saving a priority

As you work, your salary will also increase. However, this shouldn’t automatically mean that you need to also increase your budget for expenses as well. It’s good to reward yourself for your hard work, but be sure to think long term and make growing your savings a priority.


4. Live within your means

As hard as it is, don’t give in to FOMO. Be honest about what you can and cannot afford, despite all the pressures you see on social media. Everyone has their own financial journey, so just focus on yours. You’ll find that you’ll be happier in the long run saving your salary than having the newest gadget or staying in a fancy hotel. 

5. Consistency is the key

Having a budget and saving are important, but you must remember to make these into habits too. It can help to automate your financial transactions, like transferring a portion of your salary to your savings account every month. It’s a challenging journey towards financial freedom, but your future self will surely thank you for it. 

At CIMB Bank, you’re a step closer to your financial goals with up to 8% p.a. interest on your savings! Enjoy 4% p.a. interest in two ways. Just maintain a minimum balance of PHP 100,000 or grow your Average Daily Balance by at least PHP 500 every month in your UpSave and/or GSave account. Earn an additional 2% p.a. interest by paying your Personal Loan Installment due or REVI Credit Minimum Amount Due on time. You can also earn additional 2% p.a. by transacting with a minimum of PHP 500 on the all-new CIMB Bank PH app. Average Daily Balances in excess of PHP 200,000 will earn 2.5% p.a. for UpSave and 2.6% p.a. for GSave. 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.

Click the link below to learn how you can earn up to 8% p.a. interest on your savings:

Deposits are insured by PDIC up to P500,000 per depositor.


CIMB Bank Philippines, Inc. is regulated by the Bangko Sentral ng Pilipinas as a Commercial Bank. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or