If You Get a Million Pesos Suddenly, Do These Things

February 10, 2022
If You Get a Million Pesos Suddenly

Let’s pretend for a second that you’ve just received a million pesos in the mail. So, what are your plans for it? Purchase the car you’ve had your eye on for a long time?

Make a down payment on the condo property of your dreams? Or dig a hole in the dirt in your lawn to bury all of your cash? For many, this is a once-in-a-lifetime opportunity, so choose wisely.

They said, “It’s only a million pesos.” They said, “It doesn’t amount to anything nowadays.”

People can say whatever they want, but a million pesos is still a million pesos, especially for those who don’t have easy access to it. Those who claim to be too cool for a million would most certainly have no idea what to do if a million dollars suddenly appeared in their laps.

If you wind up with that much money, stay cool and know what to do with it so you can grow it into another million, if not more, in a few years.

Getting Out of Debt

The first step is to figure out how much of that $1 million will be used for pure investing purposes. If it’s “additional cash” in the strictest sense for you, that’s great because you have the complete sum to invest.

If, on the other hand, you have debts to pay off and responsibilities to fulfill that your normal income or savings cannot easily cover, that should be your first priority. Sure, it’ll be a significant portion of the million dollars, but come on!

Take use of the money you have if it allows you to become debt-free or at the very least drastically reduce your bills. In many ways, it’s a smart step that will complement your future savings and investing plans because you won’t have any extra responsibilities to worry about.


Whether you have a million pesos or a few hundred thousand pesos to spare, there are a variety of investment alternatives to consider. The most basic thing you can do with it is open a savings account. You can choose the time deposit option if you don’t want to keep chipping away at it with small withdrawals.

Mutual funds are another investment choice, and they can be considered a beginner-friendly investment. Mutual funds come in a variety of forms, including equities, bonds, money market, and balanced funds.

You can invest in these instruments for as little as a year or even less, depending on which type you select, such as money market funds. Bonds, though, require a longer timeline for investing because they involve the government or publicly traded firms.

Another wise investment you should think about is insurance. Insurance and savings and investment components are now simply combined in new insurance models. This manner, you can protect yourself and your loved ones financially from worst-case events while also increasing the value of your assets.

Quick Tips for Increasing Your Savings So You Can Invest More

Create a monthly budget.

Keep track of your spending and examine how your money is spent on a monthly basis.

Make a spending plan and stick to it.

Reduce your spending habits.

Consider switching to a less expensive option.

Become debt-free

Prioritize paying off high-interest debts (credit cards, loans, etc.,)

Set aside a specific amount of money to pay off your debts. 

Make it an automatic process.

You don’t have to keep up with the Fast pace.

Only spend on items and activities that are actually meaningful to you.

If you want to impress others, don’t buy something merely to impress them.

Make your savings automatic.

Make use of your bank’s automated savings option.

Enroll in online banking with your bank to save time and money.

Make a profit

Franchise opportunities are a terrific method to do business these days. What you should be cautious about is deciding on the type of franchise or business in which you want to invest.

Find the proper manager, train the right personnel, and be on hand to closely oversee the business’s operations, and you should start seeing a return on your investment sooner rather than later.

If you want to create a new brand, you can use the funds to purchase instruments that will help you develop your product and eventually put your lofty ideas for sellable goods or services into action. Don’t be concerned if you don’t have enough money to get started; that’s what partners and investors are for.

You won’t have to tread the path of entrepreneurship alone if you create a sound business plan that you can pitch and present to interested people.

At the end of the day, the idea is that a million pesos can be spent on a variety of things, the least of which is to spend it all on frivolous demands that will only satisfy you for a short time. Instead, consider the long term and make informed decisions. In just a few years, your one million pesos would have risen into numerous more.

1,000,000 pesos saving rules

  • Everyone can become a millionaire with just ten pesos saved every day.
  • To become a billionaire, you must cultivate the habits of diligence and thrift, as well as consistently save money.
  • It is necessary to persevere.
  • You will become a billionaire faster if you start saving money right now.
  • Interest rates have a significant impact.
  • Both risks and opportunities exist.
  • Investing in good equities for the long run.
  • Make use of the expertise of others.
  • You must have a thorough understanding of the product you are purchasing.
  • Your money is at risk when you become overly enthusiastic.

Additional Saving Tips

  • Use the 24-Hour Rule as a guideline. With a self-imposed 24-hour rule, you can avoid buying expensive or unneeded products on impulse. Wait 24 hours before purchasing any non-essential goods. It’s ideal for online shopping because you can just add products to your cart and purchase them later.
  • Treat yourself, but make it a saving opportunity. Savings should be equal to the cost of your non-essential indulgences. So, if you treat yourself to a smoothie while out running errands, put the same amount of money into your savings account.
  • Calculate purchases based on the number of hours worked rather than the cost. This mental math strategy can help you #ThinkLikeASaver in no time. Calculate the cost of the item you wish to buy by multiplying the cost by your hourly wage.


Saving money and proper usage is crucial because it provides security, reduces stress, and allows you to be more independent. While there are numerous reasons to save, you just need to select one that appeals to you. 

You owe it to yourself to prioritize saving, whether it’s for the sake of assisting others, boosting your marital finances, leaving a positive financial legacy, or simply having a bit more fun.