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The pandemic has caught everyone off guard. While health and safety remain top priority, staying afloat may be the biggest challenge for many, even among today’s millennials and Gen Zs.

With many getting pay cuts or losing their job, learning to manage personal finances is important now more than ever and is a large part of adulting.

Here are a few things young adults should ponder on and start doing even while in quarantine:

Learn budgeting

Now is a good time to start a budget. Apply the 50-30-20 rule. Allocate 50 percent of income to basic necessities, 30 percent to leisure and 20 percent to financial goals. Take note of billing due dates and pay on time. Use an Excel spreadsheet, an app or even a pen and paper to keep track of expenses.

Look for ways to reduce monthly expenses. Whether that’s subscribing to only one streaming service, downgrading mobile postpaid plan or switching to prepaid, or unplugging devices when not in use, the savings from these can go a long way toward improving one’s overall personal financial health.

Financing options such as the Toyota Financial Services’ Balloon Payment Plus makes car ownership easier with lower down payment and monthly terms already inclusive of periodic maintenance services. Such packages make spending lighter on the monthly budget, with guaranteed great resale value options by the end of the term.   

Spend wisely

The pandemic has made everyone’s future a little uncertain so it’s best to be cautious with spending. Distinguish between wants and needs. This applies to the 100 items in one’s online shopping cart. Think long and hard before hitting that check out button.

When grocery shopping, assess the household’s current supplies and buy only enough for the whole family. Have a shopping list and stick to it as well.

Take advantage of cashbacks and rewards program. Plenty of companies nowadays offer cashback and rewards incentives for every purchase or for paying bills on time.  

For big purchases, always go for value for money and explore available installment plans to make payments lighter on the pocket. One is sure to get their money’s worth with the Toyota Vios not only for being a quality and durable car but also for its added value benefits such as free periodic maintenance service (PMS), extended warranty or free car insurance. Worried about shelling out a lot money? With Toyota’s myriad of available financing solutions from low down payment schemes to discounts, owning the Vios is made as affordable as possible.

Start or keep investing 

There are many forms of investment one can explore even while young and in quarantine.

Building and diversifying a financial investment portfolio is a good idea for young adults. With retirement decades away, not only is there more time to learn and recover from possible losses, investing can also help one achieve financial freedom earlier.    

With work from home and less socializing still the norm, another investment worth considering is learning. Take up a new language. Read more books. Enroll in an online certification course. Investing in education is a great way to help increase one’s personal development and professional value.

Some big-ticket items are also worth investing in during this period. With persisting limited transportation options due to quarantine restrictions, having a car can provide more flexible mobility when traveling to work or the grocery store or running errands since there’s no need to queue in line while waiting for a ride. More importantly, Gen Zs and millennials can reduce their exposure to the virus by driving their own car. Experts advise to be at least 6 feet away from people, but with public transportation, this may be more challenging to follow.

An excellent investment for first-time car owners looking for a safe and reliable mode of transportation, the Toyota Vios delivers performance that levels up the lifestyle. Recently named as the Most Reliable Car Brand for 2020, Toyota offers more than what meets the eye.

With an array of variants to choose from, the Toyota Vios is easy to maintain, has a spacious interior and boasts an impressive engine performance that provides a driving experience that can withstand the knocks of daily errands. Depending on one’s goals, one can avail of the XE variant for that everyday practical car or grab the recently launched Toyota Vios GR-S that comes with a track-ready aesthetic – both in its interior and exterior. If along the line one is considering to upgrade, a Toyota vehicle has an impressive resale value – truly a bang for one’s buck.

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The Toyota Vios is proudly assembled by Filipino automotive makers in the Philippines. By choosing the Toyota Vios, one not only enjoys the perks of having a dependable car but also helps support the livelihood of fellow Filipinos working in the local automotive industry.

With enough patience and determination, one will get the hang of adulting with money and build a better, more secure future.

To know more about the Toyota Vios, please visit Toyota Motors Philippines’ website at https://toyota.com.ph/vios or explore the Toyota Virtual Showroom. To get real-time updates, follow Toyota on Facebook and Instagram.