Julia Christine Botin

Article (news)

Aneth Ng-Lim

For months, the peso against the US dollar was trading closer and closer to the P60 mark. &nbsp;It came too close many times that analysts had started to revise their forecasts. Maybe it was just a psychological barrier but when it finally crossed P60, the pain became more real.And then it started to climb even higher. &nbsp;Right now, the exchange rate is at historical highs. &nbsp;Even if you get paid in peso and spend in peso, don&rsquo;t think your wallet won&rsquo;t take a hit.Fuel prices already at all-time highs will rise further, overseas travel will cost more, imported goods will become more expensive, and even your grocery cart total can only go up, because many raw materials are paid for in dollars.Whether you&rsquo;re single or married, working full-time or running your own business, you won&rsquo;t be able to escape the impact of a weak peso. &nbsp;But while we cannot control global currency movements, we can make smarter choices with our hard-earned peso. Here are 5 practical ways to shield your budget and savings.<div>#1 Watch your spending</div>Notice I did not say stop spending, because that&rsquo;s not realistic. &nbsp;The truth is making small adjustments on your expenses, and doing it consistently, will matter more than big dramatic sacrifices.Before spending, ask yourself these 3 questions:Is this a need or a temporary want?Am I buying this because prices may rise later?Will this still matter in six months?Being honest with yourself may help you swipe or tap your cards less. &nbsp;This is a good time to cook at home more often, delay those gadget upgrades and cancel unused subscriptions. &nbsp;Then sit back and watch hundreds, even thousands of pesos monthly stay on your account instead of being used to pay for expenses.<div>#2 Pay off dollar debts</div>If you own a dual-currency credit card, and carrying a balance on the dollar credit line, consider paying it off now, or the sooner the better. &nbsp;In this period of political and economic uncertainties, waiting and hoping the exchange rate will turn around in your favor is a risk that may cost you.Worse, that volatility can also lead to rise in interest rates. &nbsp;Carrying large balances &ndash; in dollar or in peso &ndash; will become more expensive over time. The less money going toward interest payments, the more room you have in your budget to absorb rising living costs.<div>#3 Buy local and love your own</div>A weak peso makes imported products more expensive, from luxury bags and sneakers to gadgets and international travel.This does not mean you can no longer enjoy nice things. But it helps to know what you&rsquo;re paying for: impulse shopping? temporary thrill? social media pressure?To protect yourself from the dollar surge, why not buy local? &nbsp;Supporting local brands can stretch your budget plus help Filipino businesses grow. &nbsp;Many Filipino-made products today offer excellent quality at more reasonable prices compared to imported alternatives affected by exchange rates.<div>#4 Pay smart when you travel</div>If you are planning overseas travel, you&rsquo;ll find everything costs more during periods of peso weakness. Airfare, hotels, tours and more become more expensive as the peso declines against the US dollar.This doesn&rsquo;t mean postponing your well-deserved break. &nbsp;Instead, consider the following:Use rewards points &ndash; Your credit card may have stored enough loyalty points for air miles or hotel stays. &nbsp;Every point counts so use them strategically for best value.Scan card promos &ndash; I&rsquo;m off to Tokyo in a couple of days and my JCB card offers a 5 percent cash rebate on all purchases made in Japan, with no minimum spend. &nbsp;That can earn me as much as P5,000 if I swipe right.Collect discount vouchers &ndash; Not only credit card issuers, but also card networks like Visa and MasterCard offer discount vouchers globally. &nbsp;Before taking off, check the offers relevant to your destination. &nbsp;Pay with local currency &ndash; When paying with a credit card, never choose to pay in Philippine peso. &nbsp;Always choose the currency of the country where you are, be it Hong Kong, Australia, or France. You&rsquo;ll enjoy a better exchange rate plus avoid hidden fees.Tap with GCash if you own one &ndash; A friend advised me to get a GCash card and use it overseas. To my surprise, it gave me a much better exchange rate versus my credit card. &nbsp;If you can choose to pay in cash, do it with GCash but note you&rsquo;ll need to own their plastic card. &nbsp;They have promos too so check the app for offers.<div><a href="https://www.abs-cbn.com/business/2024/10/16/what-does-a-weaker-peso-mean-for-your-travel-plans-abroad-1438" rel="noopener noreferrer" target="_blank">What does a weaker peso mean for your travel plans abroad?</a></div><div>#5 Make More Money</div>Naturally, to have more money, you&rsquo;ll have to increase your earning power. Many Filipinos supplement their salaries with freelance work, tutoring, online selling, content creation and many other sidelines.Those earning in US dollars or serving overseas clients may even benefit from favorable exchange rates. &nbsp;Someone we know decided to quit her day job because being a virtual assistant paid so much more and she did not have to deal with traffic and commute.You don&rsquo;t need a grand business idea. A small side hustle that can cover your utilities, groceries, or fuel expenses would already be great. &nbsp;While a weak peso can make daily life feel more expensive, it does not have to completely put a halt on your financial goals. By being more intentional with your spending, you will be less vulnerable to exchange rate swings. &nbsp;And hopefully, even if the US dollar continues to strengthen against the Philippine peso, you&rsquo;ll be able to protect yourself from feeling the squeeze.&nbsp;

Whether you’re single or married, working full-time or running your own business, you won’t be able to escape the impact of a weak peso.

Whether you’re single or married, working full-time or running your own business, you won’t be able to escape the impact of a weak peso.

How to protect your money and earnings from a weakening peso

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How to protect your money and earnings from a weakening peso

Aneth Ng-Lim

Published May 19, 2026 12:17 PM PHT

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Updated May 20, 2026 08:38 PM PHT

Read More:

personal finance

wide spending

peso depreciation

foex

peso weakness

Anth Ng Lim

Paying it Forward

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