According to Philippine Statistics Authority (PSA), about 94.2% of the population suffered from unemployment in January 2016. Even though there’s a slight change to the present unemployment rate, it still shows that a lot of people are having a hard time looking for decent jobs, which makes it difficult for them to sustain their future.

But there are others who find it difficult to sustain their future too, despite being a part of the workforce. If you’re one of them, here are a few tricks to stabilize your finances, before it’s too late.

1. Save a Portion of Your Money

Every pay day, make it a habit to set aside a small amount of your salary. Before you go out on a shopping spree, automatically put at least 20% of your total earnings in your bank account, so you’ll have something to spend, in case an emergency occurs.

You could also do it the other way around wherein you first spend a portion of your money, before you keep what’s left of it. Although the danger with this approach is you’ll be tempted to continuously spend your money, until there’s nothing left for you to spend at all.

2. Buy Only What You Need

Dying to get your hands on the latest iPhone version but you have to buy some new clothes to help you avoid wearing your old ones in the office, again and again? Even though owning a brand new gadget makes you a part of the “in” crowd, choosing to purchase a new set of clothes and maintaining your still-properly-working phone instead, won’t kill you.

In fact, learning how to distinguish what’s urgent and important from what’s mere luxury, prevents you from burning a real, long-term hole in your pocket.

3. Look For a Part-Time Job That Fits You

If you’re a newbie professional who has a low or average monthly salary, and wants to earn additional income, keep your finances afloat by looking for a part-time job. Instead of posting unnecessary Instagram photos during your free time, have the initiative to apply as an online English teacher, social media manager, data encoder, or any position that’s within your skill set. Plus, it’ll be a wonderful opportunity to work at home, if you want to get away from the heavy traffic outside.

4. Start Your Own Business

If you’re in your mid-30’s to early-40’s who has a good career, you may invest in a business. As long as you have sufficient capital, labor, and other resources, and you won’t have problems with their allocation, there’s nothing wrong with putting up a computer shop, or a convenience store. After all, you still might want to do something worthwhile even after you’ve reached your retirement age.

5. Do a Lifestyle Check

Rewarding yourself for a job well done is understandable but living a life to the extremes is bad. Whether you’re earning enough or earning more than what you deserve, living within your means and spending your money on things that truly matter, spare you from wasting too much financial resources and submerging yourself to debts.

Remember, you can’t always turn to your relatives or friends for financial support, so it’s important that you practice financial independence, as early as possible.