In a virtual media presscon brought to us by ING Philippines in celebration of its 31st Anniversary, we asked Ben&Ben about their #Adulting journey and how they manage their finances.

Last year, the number 1 folk-pop/pop-rock band of the Philippines decided to move in together amidst the pandemic and to say that the fans are excited is underrated because moving in only means more music.

But Ben&Ben live a normal life as well, they also do #Adulting stuff and they gladly share the things they do with their time, finances, and the tips and tricks they have under their sleeves.

When asked about how they manage their finances now they are living together, here is what they have to say.

Question: You've been living together for quite some time now, who and how do you manage your finances (food, bills, etc.) and your time?

Ben&Ben: In the past 14-15 months of living together we learned a lot of things in managing a household of this size and the thing about living together is you really have to manage your finances well. Of course, we have our personal finances but as a group and as a household there is budgeting for everything, for utilities, for all of the bills that are being paid here (house), of course even down to our food.

According to the group, being proactive should be practiced rather than being reactive and planning ahead of time and budgeting is a must to prevent unnecessary expenses.

Ben&Ben also shared that they have a ‘Band Fund’ that they manage together. This fund covers other expenses that the band needs, such as instruments and food besides their production costs.

A collective fund is a very good avenue to save cash for immediate expenses. This serves as an Emergency Fund for a certain group or household.

Q: What are the things that you wish you knew sooner when it comes to adulting and being independent?

B&B: It boils down to the small details. Being aware of where to find the best price for these certain supplies or knowing how to make the budget flow better in terms of the money that comes in and out. The details in those things are learnings that we’ve had over the months. Of course, 14 months in we wish we learned that earlier so we could have saved more. But then I guess that’s life for us, you make your decisions and then you learn from them and then you get better.

In addition, the group Ben&Ben emphasized that ‘there’s no clear guide book’ so no need to beat yourself up if some tips don’t work for you.

It’s different from person to person, and most of us just figure it out as we go. It helps to read books about how to be financially mature or get tips from people you look up to. I guess, if there’s one important thing that we should all know is to start saving as early as you can. Creating that kind of discipline from the start can really make a huge impact when you are in your “adulting” phase.

Q: What adulting/ saving tips will you give people who are on their transition to being independent?

B&B: Number 1, With what you earn each month, always prioritize savings. It is important to build the habit of savings before spending your money on your expenses and other wants. This way, you can teach yourself how to budget your finances on what you actually have.

Pay yourself first. It does not mean buying those shoes you’ve been eyeing since last month, it means paying your future self and saving.

Number 2, Don’t be too drawn to online sales. If there are certain things you really need, it helps to purchase them during a sale, but don’t use them as an excuse to find more things to purchase simply because they’re discounted.

Be a mindful shopper. Just because it feels good to unbox a parcel means you have to do it multiple times a week. Reward yourself but plan it, look out for sale events where you can save. And don’t fall for the Free Shipping trap where you have to meet the required orders just for a free shipping voucher.

And lastly, Number 3 is to Set long-term goals. It gets daunting thinking about it, but having long-term goals really does help set your expectations for how to adjust your lifestyle better. Delayed gratification sounds difficult sometimes, but if you give yourself those long-term goals, it helps remind you of what there is to look forward to.

Ben&Ben is not just here for the fun and music, they owe their success to their family and fans and as a way to treasure the blessings they are continuously receiving they have to step up and magnify it by being a better person and a financial independent at that.