Tuesday, September 07, 2010
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.
You can also check out the Blog of All I can Handle on : 13 Tips on How to Save Money
Any other suggestions you can think of?
Also see TIPS ON EARNING EXTRA INCOME