For most Filipinos, hitting that ₱1 million mark feels like the ultimate financial milestone. Whether it’s for building a house, starting a business, or simply securing your future—₱1M is no small feat. But here’s the truth: it’s possible, even if you’re not earning six figures a month.
Let’s break down the realistic ways to reach your first million pesos, even if you’re starting small.
1. Save Aggressively – But With a Plan
Let’s be real. You can’t save your way to wealth alone—but you also won’t get to ₱1M without saving anything at all.
Sample Strategy:
- Save ₱8,500/month consistently for 10 years = ₱1,020,000
- Save ₱20,000/month for 4 years = ₱960,000
But don’t just save for the sake of saving. Create a purpose: emergency fund, future business capital, or down payment for a house.
Pro Tip:
Use high-interest digital banks like SeaBank or GoTyme to grow your savings passively with 3.5–4% annual interest.
2. Invest Early and Consistently
You’ll never hit ₱1M faster than by making your money work for you. Investing isn’t just for the rich. Start with what you have—even if it’s just ₱500.
Start Simple with Pag-IBIG MP2
Pag-IBIG’s Modified Pag-IBIG II (MP2) is one of the easiest and safest ways to grow your money if you’re just starting out. It offers tax-free, government-guaranteed earnings—historically ranging from 6% to 8% per year.
- Minimum: Only ₱500 per contribution
- Lock-in: 5 years (you can renew or withdraw after)
- Best for: Conservative savers who want better returns than regular savings
If you invest ₱2,000/month for 5 years, and Pag-IBIG maintains a 7% average return, you’ll have around ₱140,000+—much higher than a traditional bank savings account.
Or Go Long-Term with Mutual Funds or Index Funds
If you’re open to more growth (and a bit more risk), you can invest in:
- Mutual Funds (via COL Financial, Sun Life, etc.)
- Index Funds (like the PSEi tracker fund)
- GInvest or BPI Invest (great for beginners)
Example:
- Invest ₱5,000/month with 8% average annual return
- In 10 years, you could end up with ₱915,000+
Even if you’re starting small, what matters is consistency. Time in the market beats timing the market—so start now and let compounding do the heavy lifting.
3. Start a Side Hustle or Microbusiness
You don’t need to build a 6-figure business overnight. But a small side hustle can add ₱2,000–₱10,000/month to your income.
Some ideas that work:
- Buy and sell online
- Food tray business
- Lazada/Shopee reselling
- Digital freelancing (writing, editing, VA work)
If you earn an extra ₱5,000/month and save it for 5 years, that’s ₱300,000 on top of your savings and investments.
4. Cut the Waste, Not Just the Fun
You don’t have to live like a monk, but you do need to know where your money goes. Identify leaks in your spending.
Examples of common money leaks:
- Subscriptions you don’t use
- Expensive coffee habit (₱150/day = ₱4,500/month!)
- Food deliveries every week
Redirect just ₱3,000/month of waste into your savings or investments and you’re ₱36,000/year closer to your goal.
5. Upgrade Your Income Over Time
While saving and investing are key, growing your income will supercharge your path to ₱1M.
This means:
- Asking for a raise
- Switching to a higher-paying job
- Learning new in-demand skills (like coding, digital marketing, or data analytics)
You don’t need to work harder. You need to earn smarter.
6. Automate Everything
The truth? Discipline fails. Systems win.
Here’s what to automate:
- Auto-transfer to savings account every payday
- Auto-invest in mutual funds or MP2
- Schedule bills payment to avoid penalties
Set it up once and let your system work in the background.
Blogger’s Corner
Let me be honest here—getting to ₱1,000,000 takes time, effort, and sacrifices. But it’s not impossible. If you’re earning ₱20,000/month, it might take longer than someone earning ₱50,000—but the formula remains the same: save more, invest smart, and grow your income over time.
The best part? Once you hit your first million, the second one comes faster. Why? Because you’ve already built the habits, mindset, and systems that work.
This isn’t a get-rich-quick scheme. It’s a get-rich-slow—but-sure journey.
Final Tip
Don’t wait for the “perfect time” to start. Whether you’re 20, 30, or 40 years old—now is always the best time to start building your first million.