Business

“It’s through using the ‘bawas-dagdag’ (reduce-add) method,” he said in a phone interview. This involves cutting back on unnecessary expenses and prioritizing what one really needs.

Mr. Tan said it is important right now to be more practical. “Rather than looking for branded things, you might look for alternatives that are less expensive… Look for cheaper ways to do things,” he noted.

Filipinos also need to save more, especially for emergency funds that cover at least six months of their living expenses.

“Because of the pandemic, we may never know, hopefully not, that there will be another surge… Once it persists, there will be some limitations again and, at the same time, some people will have a problem earning on a daily basis,” Mr. Tan said.

Filipinos should also consider other ways to augment their income, such as online gigs such as writing, graphic design or video editing, he said.

For people who are entrepreneurial, he recommended getting into the food business.

“They can start cooking at home and sell it. They can also look at the health and wellness industry, because health and wellness products are among the easiest products to sell right now due to the pandemic,”

A breadwinner, Mr. Lagos said daily survival requires “diskarte” since he sends money to his wife and four children in Bohol.

“I told them that we need to tighten our belts because it’s now very difficult to earn money in Manila. I used to send home at least P700 a day, now I’m happy if I’m able to send P350 to P400, but most of the time P250,” he added.

Mr. Lagos said working as a family driver is his best option, as he will have a fixed salary, meals and accommodation.

For now, he asks for tips from his passengers. “I think they understand my situation.”