The ramblings of a self-proclaimed call center veteran - on surviving the Philippine Call Center industry.

Tuesday, September 07, 2010

TIPS ON - SAVING MONEY AS AN AGENT


75% of call center employees spend their salaries within five days upon receiving it.  Then they end up counting the days till their next paycheck.

This is a study that was done by me (so technically imbento lang yon).  But based on my humble observation, call center agents have poor discipline when it comes to money.  They end up splurging on Taxi's, Starbucks, cellphones, designer clothes, pokpok's and whatever -- simply because of the "malaki naman sahod ko mentality" and the "mag-iipon ako next sweldo" mindset.  And in the end years pass and nothing financially solid is gained.

So what are the money saving tips I applied?

1) Realize that the call center is an unstable working environment.

I have mentioned this in previous posts.

The call center is a very unstable environment.  Your salary, account, status, titles, training, office romance, depend solely on the next “end of life” of your account.  I have seen  Managers, TL's, and whoever lose their jobs in an instant due to the US clients closing/transferring to other Business units.

Some call centers promise to give their agents a stable future -- this is crap!  Learn to be prudent and save.

2) He who gathers little by little makes it grow.

This is somewhere in the bible.

Every payday start setting aside a small amount of money, 500 pesos or 250 pesos will do.  Put this is a small piggy bank.  After a while you'll be surprised that you actually saved something -- as opposed to trying to put a big amount in the bank that you end up withdrawing anyway.

3) Have two bank accounts.

One is for your pay check, one is for your savings.  If you just put all your money in one account, chances are you'll spend it all (been there, done that).  Try to enroll in BPI's direct save up.  The bank takes money off your paycheck every payday and put this into your savings.
 

I am not endorsing this, I am sharing this because it worked for me.

It would also help if your saving account has a passbook.  Atm's are so convenient to use, so it's so convenient to spend your savings as well.  By holding a passbook, you will be subjected to the banks "time-space-warp dimension" where you have to be horribly hassled to withdraw.

4) You will survive with what you have.

I noticed that we survive with the money we actually have on hand -- call it our survival instinct kicking in.

Try to save the money first, and try to live by the money that was left -- you will survive. 


Wag ka lang mang-utang ng mang-utang!

5) Try to be thrifty

A priest once said, "you have no right to luxuries till you have your own house and car."

In tagalong "WALA KANG KARAPATAN SA LUHO HANGANG DI KA PA NAGKAKABAHAY AT KOTSE!”

Practice thriftiness -- bring packed lunches,  do not go to GIMIKS every other night, and be content with your current cellphone.

Think about this, going to lunch outs a day amounts to 50 pesos.  One kilo of hotdogs cost 150 pesos -- good for the whole week.  I'm not saying that you eat hotdogs everyday because that would be a certain cause of umay, but you see the point.  Find ways to save money and be happy and content with what you have.

I know a guy who had every latest cellphone and his lack of discipline led him to a life of poverty.

*side note:  Some agents must always have the latest cellphone or gadget.  Wala naman kotse -- na hoholdap tuloy.*


6) Make a Budget plan

Sounds redundant, but you really need to do this.

As soon as I get my paycheck I do the following.

1) I set aside a small amount for my savings.
2) I then proceed to list all the bills I have to pay (Water, Electricity, Bahay, Girlfriend1, Girlfriend2.)
3) I then compute my everyday allowance (transpo, food, packed lunch.)
4) I then allocate a Gimik fund (We need to have some fun!)
5) I add and subtract the figures.
6) Tapos sasakit ang ulo ko kakaisip pano ko pagkakasyahin ang pera ko.

Just remember, you will not be young forever so get more discipline in your life.  See to it that you don’t wake up one day, be 30 years old, and still have nothing.

The sacrifices you do now determine how easy life will be in the future.

Any other suggestions you can think of?


Also see TIPS ON EARNING EXTRA INCOME

15 comments:

  1. live within your means. you don't need to have what everyone has

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  2. My bf needs to read this *haha*
    he has a spend first save what's left mentality.

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    Replies
    1. Thanks for the comment LadySpring -- let your BF try it out and see how effective it is. :D

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  3. Thanks for the helpful advice. I hope I can do the same. I will do the same! -- ^_^

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  4. i recomend BPI-Save up because that can really help you in saving your hard-earned money...

    pero i am also guilty when it comes to spending. haha i learned my lesson..

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  5. Mine i open a Cash Card Account in BDO for P110, once i activate and got the number of my card. I destroyed the card so i cannot withdraw any amount, because you cannot withdraw over the counter unless you apply for a replacement card... i just invest P110 for my future.

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  6. As far as I know, you can only save up to P25,000 in bdo cash card account. Opening another savings account is better, imo.

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  7. Greetings,

    I am not a call center agent but I am doing a study on what call center agents actually spend their money on. I am actually a transformation coach with little information on this matter. I want to create a training module on helping (STEP BY STEP)agents understand the urgency of learning to set aside. Just like what you have done, but except deeper...

    Thus the need for actual facts to back up whatever solutions and ideas we will later come up with.

    Do you know of any actual study that you can point me to or group or organization which you can connect me to?

    Thank you.

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  8. i would also recommend investing part of you "sweldo" in stocks if you are aggressive or mutual fund if you're passive. the plan is long term and the interest/gain is higher compared to time deposit http://simplengcallcenteragent.blogspot.com/

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  9. check out this great innovative way to save money through this guaranteed savings plan in the Philippines

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  10. I worked in a call center and i have 2 bpi accounts; 1 is for my payroll and the other one is my personal savings. I always check my salary online and transfer it to my savings account. pinagkakasya nmin ung sahod ni BF sa rent ng bahay, bills, transpo, food, so far medyo maganda ng tignan ung #'s sa savings account ayoko na tuloy galawin kahit piso. hahaha

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  11. I track my daily expenses. I also walk pag uwian na since malapit lang office ko sa bahay at umaga na. I have 2alkansyas at home and a separate savings account for my emergency fund. I also bring snacks and lunch to the office. These things work for me. I'm also a call center agent and I used to be gastadora.

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  12. next time...gagamit na ako ng bank book. saklap eh. pag atm card talaga waldas lahat.huhuhuhuhu sising sobra ako.....

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