Times are tough so it makes sense for us to try and save more than we spend. There are instances, however, when we need to make space for investments. These investments may sound pricey at first but some things are totally worth the expense and are worth it in the long run–at times even proving not to be more costly, at all.
Here are five things that we thought were expensive but are actually good for us:
1. Further education
The world is constantly evolving and there’s always something new to learn, whether it’s in our field or in a completely different one. We’re here to make the case of studying again, either through higher education or online courses.
Going back to school entails additional expenses but think of the benefits. You can upskill, which will help you at your job and may lead to a raise (or you can ask for a better salary when looking for other opportunities). You can even learn something new, which could be a side hustle or a new higher-paying job. Careers in data science, digital marketing, and coding are big right now and can be studied at home.
The situation we’re in just proves how important insurance is. Simply put, insurance is a contract where you receive financial protection or reimbursement against losses. Life and health insurance are in demand right now with the COVID-19 pandemic.
Consider this finding by the American Journal of Public Health in 2019: “Statistically, you and your family are just one serious illness away from bankruptcy.” You may be paying premiums regularly but if you find yourself in a medical emergency, you’ll thank yourself for signing up for a policy.
3. Clean energy
Clean energy has at times been less affordable than conventional energy sources but reports as early as 2014 say that “the cost of providing electricity from wind and solar power plants has plummeted over the last five years.” Clean energy is no longer necessarily expensive. In fact, the declining costs of clean energy make it easier to make the switch to clean energy.
Even though renewable energy is now much more affordable, going 100% renewable energy (such as solar, wind, hydropower, and geothermal) will take time because of its intermittent and seasonal nature. In the meantime, natural gas is the best power source to aid the transition, since it’s the cleanest non-renewable source of energy.
Natural gas is a naturally-occurring energy source that can be paired with renewable sources of energy (like solar or wind) to generate reliable power. Natural gas only takes around 15 minutes to start up, supplying much-needed power quickly when renewable sources of energy suddenly become unavailable. On top of that, it’s cleaner than coal, which still makes up the majority of the Philippines’ energy mix.
It emits up to 60% less carbon than coal and does not leave behind harmful pollutants such as ash and sludge. Using natural gas as we transition to a 100% renewable energy future with renewable energy prevented the discharge of 11.7 million tons of carbon dioxide in 2020, equivalent to taking 2.5 million cars off the road, per year. First Gen is taking the first step with natural gas by making it available for businesses.
4. Healthy food
It’s easy to think healthy food is expensive when you look at those pricey offerings like kale, sugar-free snacks, and smoothies. If you have the means, go buy those but if not, vegetables can be found at affordable prices in the market. In the Bantay Presyo Prices Monitoring of the Department of Agriculture on October 15, 2021, a kilo of eggplant can be bought for P80, while a kilo of cabbage can be had for P100.
5. Home renovations
The Facebook group Home Buddies has made us want to renovate our abode to be more ~aesthetic. That’s great if you have the means but if not, focus on general upkeep to maintain your home. These could include checking on your roof, cleaning gutters, touch-ups on paint, and inspecting leaks. Regularly maintaining the home has added costs but they’re a small expense compared to how much you’ll need for major fixes.
What do you think? Share your thoughts below!
Do you have a story for the WhenInManila.com Team? Email us at firstname.lastname@example.org or send us a direct message at WhenInManila.com Facebook Page. Interact with the team and join the WhenInManila.com Community at WIM Squad. Join our Viber group to be updated with the latest news!