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A tale of love at first sight

Learn more about Joemar and Diana’s love story here.

Generali Philippines Announces new President and Chief Executive Officer

Dad bloggers in the Philippines often educate families when it comes to insurance. Personally, Generali has been my life insurance provider for years, and I was excited to hear the news that they have a new CEO.

Generali Life Assurance Philippines, Inc. (Generali Philippines) was pleased to announce the appointment of Dr. Hak Hong Soo as President and Chief Executive Officer.

Prior to his appointment as CEO of Generali Philippines, he was the Regional Head of Health and an Executive Member of the International – Asia Regional Office. In this capacity, Dr. Soo led the International - Asia Business Unit in strengthening the regional health business and accelerating the firm’s business transformation agenda. He also holds a Ph.D. in Insurance, Economics, and Econometrics, and is an Associate Member of the Society of Actuaries.

 

Dr. Soo has extensive technical and managerial expertise in product proposition and pricing, actuarial health portfolio and financial management, health business value chains, network, and customer relations, and partnerships across the Asia region.

 

He succeeds Reynaldo Centeno, who formally announced his retirement on December 31, 2022.

 

Jaime Anchustegui Melgarejo, CEO, Generali International commented, “We are glad to confirm Dr. Soo’s appointment and his ability to lead our growth plans in the Philippines. The Asia region is an important engine of profitable growth for our Group and we remain committed to investing in our people to drive this.”

 

“Congratulations to Dr. Soo on his appointment as CEO of Generali Philippines,” said Rob Leonardi, International Asia Regional Officer. “His extensive experience working across Asia will play a key role in leading his new team and driving our growth plans in the country. I am confident that under his leadership Generali Philippines will continue to develop sustainably.

 

“I am truly excited about this appointment by Generali Group,” says Dr. Soo. “Generali has entrusted me to continue growing Generali Philippines and servicing our valued customers in the country. As their Lifetime Partner, I am confident that “We” at Generali Philippines will continue to provide sustainable propositions, value-added services, and a caring experience.”

 

GENERALI GROUP

Generali is one of the largest global insurance and asset management providers. Established in 1831, it is present in over 50 countries in the world, with a total premium income of € 81.5 billion in 2022. With 82,000 employees serving 68 million customers, the Group has a leading position in Europe and a growing presence in Asia and Latin America. At the heart of Generali’s strategy is its Lifetime Partner commitment to customers, achieved through innovative and personalized solutions, best-in-class customer experience, and its digitalized global distribution capabilities. The Group has fully embedded sustainability into all strategic choices, with the aim to create value for all stakeholders while building a fairer and more resilient society.

EDUCATE OUR KIDS WHEN IT COMES TO INSURANCE

 

Insurance is not something that schools usually teach. That is why as parents, we should educate our kids about the benefits of being an insured individual. Every Filipino dad should also aim to have their own insurance to protect their family and be an example to their children. More Dad Bloggers in the Philippines should write more about insurance and its benefits.

***

GENERALI PHILIPPINES

Generali Life Assurance Philippines (GLAPI / Generali Philippines) has been providing life insurance solutions to international and local clients in the Philippines since 1999. Generali Philippines has a solid track record, particularly in the group insurance and credit life business. Generali is the only global company that can offer a complete suite of employee benefit solutions, tailor–fitted to the client’s specific requirements. Moreover, we are continuously adapting and innovating to meet the changing needs of the market.

 

Generali Life Assurance Philippines, Inc is regulated by the Insurance Commission with License No. 2022/73-R

Credit awareness key to falling credit card delinquency rate — CCAP

Dad bloggers in the Philippines and Dad Influencers in the Philippines like me have a powerful advocacy -- and that is to teach kids how credit works in the Philippines. The reason for Filipino's having large debts with their credit cards is due to the fact that this topic was not usually taught in schools and at home.

While it does not see Filipinos’ revenge spending letting up soon especially as inflation eases, the credit card industry expects the delinquency rate to continue to fall if more Filipinos become responsible credit card users. One way for Filipino's to become more responsible is if their parents actually took time to explain how borrowing money truly works.

According to the latest figures from the Credit Card Association of the Philippines (CCAP), the association of 17 major credit card issuers in the country, credit card delinquency rates have been on a downtrend since the pandemic. From 4.36% in the in the fourth quarter of 2019, the delinquency peaked to 8.37% during the pandemic in 2020 before falling to 4.03% in 2021 when mobility restrictions started to ease. The rate continued to drop to 3.32% in the same period in 2022 and to 3.26% in the first quarter of 2023. Card delinquency refers to the payment of less than the minimum amount of credit card debt for least three billing cycles.

Delinquency has been dwindling despite the 47% surge in gross billings to P410 billion during the first three months of the year compared with P279 billion in the same period in 2022. The first-quarter 2023 growth rate was the highest since the pandemic started in 2020 as Filipinos took to shopping, traveling, and buying goods after being on lockdown for nearly two years. The jump in credit card billings is an indicator of higher consumer spending, a major driver in the economy’s post-pandemic recovery.

“While Filipinos’ spending spree keeps the economic engine chugging along, we must bear in mind that a credit card is not ‘free money’,” CCAP Executive Director Alex Ilagan cautioned. 

To convert Filipinos into responsible borrowers, CCAP has been conducting credit awareness programs for colleges and universities as well as companies since 2017. “Our aim is to educate them as early as possible so they know what credit is and how they can manage their credit cards well when they get theirs. Any organization, not just schools, can reach us for these enlightening seminars,” Mr. Ilagan said. 

In its seminars, CCAP shares these tips on how to use credit cards wisely:
These are also things that we Parents should teach our kids and teens.

• Do not use a credit card beyond one’s capability, only to repay the debt late. Spending beyond one’s means will result in unmanageable debt and additional charges that further inflate the balance.  

• Keep an eye on one’s total monthly spending to avoid exceeding the credit limit, as this can result in steep fees. A maxed-out credit card can also cause financial strain, especially for people who can only manage to make minimum payments each month. The minimum monthly payments will likely grow past the cardholder’s paying capability, causing them to miss their dues. A constantly maxed-out credit card will also hurt your credit score.

• Settle credit card bills on time every month. Failure to meet payments results in late fees and other penalties. It is best to pay the total amount, or at least more than the minimum required payment, to prevent debt from ballooning due to accumulating interest. 

• Track billing cycles and due dates. Avoid accumulating interest charges and debt to maintain a good credit score. A credit card helps track one’s spending and spot any budget guzzlers one can do without.

This goes to show that making sure that our kids are aware of good and bad debts, should have been instilled from a very young age. It is the task of parents, dad bloggers in the Philippines as well as dad influencers in the Philippines to make sure that the next generation of children will not fall into heavy debt. We owe it to our kids to teach them to manage credit properly.

As part of its awareness campaign, CCAP also marks Credit Consciousness Week every April 24 to 30, as per Presidential Proclamation No. 568, series of 1995. For those interested in its credit awareness programs, CCAP can be reached at https://www.ccap.net.ph/contact-us/

CCAP: Credit cards essential for ‘adulting’

A credit card, just like any other forms of debt, has often been vilified as a money sucker. But used wisely and responsibly, it can prove highly beneficial, especially for fresh college graduates who are on their adulting journey. 

That is why as a Dad blogger in the Philippines, I have this advocacy of teaching kids the true value of credit cards. We have so many people in debt already and that is because from a very young age, they have not been taught how to borrow money wisely.

Like it or not, credit cards are one of those things we can’t quite live without especially in this era of digital payment ecosystem. In fact, Filipinos today own an average of 2.3 credit cards, with 11.3 million cards-in-force as of end-2022, according to the Bangko Sentral ng Pilipinas (BSP). 

While card issuers are prohibited by law to issue a credit card to applicants who cannot show proof of income from employment or business, fresh college graduates or those ages 18 years old and below can still have access to this financial tool by being a supplementary cardholder. A supplementary credit card is an add-on card tied to the existing account (principal or primary cardholder). This allows the supplementary cardholder to enjoy the same credit card benefits as their parents (who, as principal cardholders, would assign a credit limit) while still having full control of how much to spend.

Having a supplementary credit card as an initial step can benefit those who are about to enter the formal workforce, said Credit Card Association of the Philippines (CCAP) Executive Director Alex Ilagan. “It is important for young people to be equipped with the right tools in managing their adulting life by knowing how credit card can work for their cash flows,” he said. 

This is why as a Dad Blogger and a Dad Influencer in the Philippines, I want to have people know that credit is not a bad thing, and I want to encourage other parents to teach kids how to be debt free from the start.

Here are some of the ways credit cards can help in the adulting journey:

1. Be a smart supplementary cardholder. Be aware that you are just sharing a sub-credit limit with your parents (as the principal cardholder) so use your card wisely, like when you go on your job-hunting interviews or employment preparations. After gaining work experience and a steady income, you may already apply to be a principal cardholder. 

2. Get ready with your requirements. Issuers look at job income, which can be P21,000 and up depending on the issuer. Applicants may present their income tax return (ITR), certificate of employment (COE), or pay slip as proof of income. Note that issuers, too, conduct employment verification as one of its many credit checks.

3. Choose a credit card that fits your lifestyle and what you spend on. If you’re a frequent traveler, look for a credit card that offers points and miles you may redeem for travel bookings or purchases. If you’re a savvy shopper, choose one that offers shopping discounts, rewards, and cashbacks. 

4. Set your sights on bonuses. Check out the welcome bonus offered to new customers but be aware that there’s minimum spending required within a time period. Check this information to qualify for the sign-up bonus. 

5. No one is born with a good credit score. You need to build a good track record of payment, credit line utilization, and frequency of new credit applications, among others. So be conscious of your credit behavior. Track your billing cycles and due dates. Avoid accumulating interest charges and debt to maintain a good credit score. This also helps you track your spending and spot any budget guzzlers you can do without. 

6. Stay up-to-date on the latest card promos and offers. Subscribe to your credit card issuer’s website or social media pages to get wind of their latest exclusive updates and stay informed about rewards and benefits.  

7. Be financially responsible in your adulting life. In credit card use, as in other areas of your finances, think of saving money first before spending it. This will put you on the path towards good credit as well as set you up for a strong financial future. For instance, consider the 50/30/20 rule when creating a budget: 50% of your income on necessities such as rent, 30% on recreation and splurges, and the remaining 20% toward savings and paying down debt. 

Parents should teach kids how to handle money properly.

***

CCAP conducts credit awareness programs targeted toward the needs of graduating college students. “Our aim is to educate them as early as possible so they know what credit is and how they can manage their credit cards well when they get theirs. Any organization, not just schools, can reach us for these enlightening seminars,” Mr. Ilagan said. CCAP has been actively conducting credit awareness programs in various colleges and universities since 2017. Those interested in these credit awareness programs may reach out to CCAP at https://www.ccap.net.ph/contact-us/. 

   

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7 March 2023, Manila - Pet owners now have an easier and more convenient way to buy all their pet needs from birth to rebirth through Mommyki The Super Pet App, the Philippines’ first-ever one-stop mobile application for everything about pets for their entire life cycle. It held its soft launch during the AnimalCon 2023 at the SMX Convention Center, Pasay City, last February 10 to 12, 2023. This is an exciting news for Dad Bloggers like me who need pet services for our families.

The app is a virtual pet mall that allows buyers to avail of products and services from different merchants, suppliers and service providers located in Metro Manila. Imagine the convenience for busy fathers like me.

Currently, the platform, which caters to all pets in the animal kingdom, features pet shops but soon it will include pet grooming, breeders, sitters, trainers, funeral services, boutiques, parties, hotels, veterinarians, insurance and rescue organizations, among others.

It also has an in-app digital baby book for pets to help pet parents in storing information about their pets, and monitoring vaccination and health check up schedules.

The minimum viable product (MVP) or initial version of Mommyki® The Super Pet App can be downloaded from Apple App Store and Google Play Store.

Mommyki® The Super Pet App is a passion project of co-founders and couple Geoffrey Ogang, a finance director in a tech company, and Pebbles Sanchez-Ogang, a non-profit executive. The mobile app is named after Mommyki, the 14-year-old Yorkshire Terrier (Yorkie) dog of the co-founders’ family. The difficulty in finding products and services for Mommyki, especially when she departed in the middle of the pandemic, sparked the idea.

The co-founders are also open for partnership opportunities and investors.

###

For more information:

Facebook: https://www.facebook.com/MommyKiPawmily

App Store Link: https://apps.apple.com/ph/app/mommyki/id1659330247

Google Play Store Link: https://play.google.com/store/apps/details?id=com.mobile.petmalu

For inquiries, you may contact:

Geoffrey Ogang, Co-founder & CEO  

+639178259311, geof@mommyki.com

Pebbles Sanchez-Ogang, Co-founder & COO 

+639778112015, pebbles@mommyki.com

Dad Blog Philippines.

As I have mentioned in my About me post, I managed to get a house through a Pag-Ibig hosing loan while being a Call Center Agent.

After investing some years in the Call Center Industry, you should be roughly making about 15-20k. Impossible as it may seem, this should be enough to start and pursue your dream of owning your own house.

I have already given lots of tips about saving money - and this is the first step you should take.  If you have no discipline and no goal, then you will end up spending all your money.  Think long term, and start investing on your future.



NOTE:  You must first be eligible for a Pag-Ibig housing Loan.  See this link for eligibility.


1)  Start looking!

Use the smartest entity in the world (GOOGLE) and look for "Cheap Rent to Own Houses Pag-Ibig" you should be given links to OLX, Facebook, and other brokers that offer rent to own housing.  Start reading through the ads and get the dream started.

"Umpisahan sa isang pangarap..."

2.  Note the Monthly Price.

As you read through the ads, you should note the monthly fee or equity (what you pay per month), the Downpayment Price, and the reservation fee.  There are lots of properties that have 3-5k monthly fees.

Then get a piece of paper and plan out how much you spend in a month and see the best price that fits your salary.  You may have to eat packed lunches moving forward, but at least you have a goal.

3.  Location, Location, Location.

Most cheap rent to own houses are located in San Mateo Rizal, Antipolo, Laguna, Cavite.  So try to see what location suits you best.  YES these places are far, but think about the future -- there will come a time when transportation to these places will be easier.  Ask your colleagues and Friends who already come from these places how much their daily fare costs, and what they ride to work.  Place all these factors into your consideration.

4.  Contact the Brokers for tripping sessions.

All the Ads for houses should have the broker's contact numbers - the tripping should be Free. Contact these brokers, and schedule a tripping session.  This way you will actually see the location and the actual setup of your future home.

WARNING:  Most brokers will convince you to reserve on the spot -- do not be taken in by sales talk.  Brokers aim to sell, but buying a house will affect your future. so use your brain.

Ask your broker questions as well, make sure you do not leave the place without understanding everything.

"Walang manloloko kung walang magpapaloko..."

5.  Know your Developer

Before paying that reservation fee, make sure that the Developer is a trusted one.  Search for old projects and try to talk to people who already live in their established communities.  Again, do not easily get lured in by the broker's sales talk - always be a skeptic.


6.  Pay and plan for the fees.

Once you find a home you would like to live in, then its time to see if buying this is feasible.

- Make a Monthly budget and cut back on expenses
- Save what you can, you may have to sacrifice certain things to achieve your dream
- Compute your daily fare once you start living in your new home, see if your salary evens this out
- Make a plan on who will live in the house you bought
- Factor in the renovation and other fees needed (make sure you clarify this with your broker as well)


7.  Attend the Pag-ibig seminar and get the loan approved

Once you are done with the reservation fees, and the downpayment, and the house is actually constructed, then you can proceed with the Pag-Ibig seminar.  Contact your broker on when you will be scheduled.  You have to prepare the documents beforehand which your broker should have discussed already.

Once you attend the pag-ibig session, the loan will then be released to you.

Congratulations!


Bottom line, getting a new home is not an easy task, sacrifices have to be made, and you need discipline and planning.  However, countless numbers of us have already done it, and we are normal call center agents with families and responsibilities as well.  If we can do it, then so can you!

Do share more tips on getting your own home...

In this post, CCSP contributor Jeff shares his investment ideas.  A former Call Center agent turned entrepreneur, who works with MoneyMaxPH.  Through hard work and proper financial sense, he has managed to get his own Bar and Restaurant.

If he could do it, so can you!  Allow him to share his tips.

Check out and like his Facebook page: Black Kings Bar.

Make sure to check out Part 1 of this post: TIPS ON - INVESTMENT IDEAS FOR CALL CENTER AGENTS - Part 1


Here are tips urging call center agents to not waste the money they’re earning and instead, put their hard-earned cash to good use.



1.  Stock Market

You’re probably thinking “Whaaaat? But only millionaires get rich on the stock market!” Uh, not true. Even if you set aside just PHP 2000 a month to invest* in stocks, you can see surprisingly good returns for your money.

*Invest, not trade. There’s a big difference between the two.

You’re guaranteed to see tons of stock market guides for newbies on the Internet. A common piece of advice you’ll come across is having a diverse and well-researched portfolio made up of stocks from different companies. Once you’re confident enough, you can expand your portfolio to include bonds, commodities, forex. and other investment instruments.

2.  Mutual Funds

If investing in the stock market is too scary or complicated for you, you can let somebody else do the hard work by putting your money in a mutual fund instead. A mutual fund is a collection of money from you and lots of other investors. A fund manager (either a single person or a company) then takes care of that money by investing it in stocks, bonds or both.

Mutual funds are one of the most popular investment options for beginners. By investing through a mutual fund, you can lessen the risk for yourself while still earning good returns if your fund manager’s investment decisions are successful. Again, do your research and make sure you place your money in the right fund.

3.  Real Estate

Thinking of buying your own condo unit to live in? Why not buy two and make some extra cash along the way? A lot of people make money from real estate by investing in a condo unit (or several), then either renting out or reselling the unit/s for a profit.

When investing in real estate, location is key. Start your search in high-demand areas like those near the Makati Central Business District. Go for properties by established developers with a good reputation, and look for units that are both affordable and well-maintained. If you need help financing a real estate purchase, get help from the government by applying for a PAG-IBIG home loan.


Think investing your money is too risky? Instead of having second thoughts, revisit your college economics classes and think about your earnings in terms of opportunity cost. By splurging on that fancy new iPhone now, you lose the opportunity to put that money in a business or mutual fund where you could have earned some extra dough in the future.

It also helps to remember that instead of letting your emotions dictate how you spend, use your head to make smarter budget decisions. Your cushy call center paycheck won’t last forever, so why not take the time to invest it now and give yourself some peace of mind?



This post is brought to you by:


MoneyMax.ph is the Philippines’ leading financial comparison site where you can save money by comparing financial and car insurance products and services – fast, comprehensive, and free. We aim to give the power of smart purchase decisions back to Filipino consumers by providing everything they need to become financially savvy. Like us on Facebook to get the latest tips on how to save.

In this post, CCSP contributor Jeff shares his investment ideas.  A former Call Center agent turned entrepreneur, who works with MoneyMaxPH.  Through hard work and proper financial sense, he has managed to get his own Bar and Restaurant.

If he could do it, so can you!  Allow him to share his tips.

Check out and like his Facebook page: Black Kings Bar.


What lures countless Filipinos to the call center world is the promise of higher pay. As your salary increases, so too does your disposable income, a.k.a. more money for spending.

In my experience as a call center agent, I've often seen fellow agents spend their salaries on something nice for themselves, like a new pair of shoes, the latest mobile phone, or a meal at their favorite restaurant. I’m not sure if any of them manage to save some money for a rainy day, but somehow, I get the impression that a lot of them don’t.

In the beginning, I’m guilty as well of living paycheck-to-paycheck but it’s a good thing I was later on able to break away from this cycle. I pursued a business venture I’ve long been planning, which is to run a bar. It comes with its ups and downs but I don’t have any regrets because I’m doing something I am passionate about, music and well, making money.

I strongly urge call center agents to not waste the money they’re earning and instead, think for the longer term. Put your hard-earned cash to good use now. Here are some ways how:

1.  Insurance

A good insurance plan is one of the best long-term investments you can make. If you prefer things safe, this one is for you. Insurance comes with relatively smaller risks compared to investing on a business or stock. Plus the security of not having to blow off your savings in case of an unexpected turn of events.

You can buy insurance for your house, your car, and especially for your own health to save money when you get older. You don’t want your entire life savings wiped out just because of a single road accident or hospital stay.

I personally never thought that this is important until my sister’s operation. We had our family’s savings wiped and even got into debt. Now I know better.

Make sure you do your research first though. Before anything else, make sure to know the details of the policy you’re signing up for. Never settle for what was offered to you first, as many other deals can be better. Shop around and look for online resources on life insurance costs, compare car insurance policies, or check comprehensive health insurance offers for all kinds of medical emergencies.

2.  Side Businesses

Another way you can increase your savings is to start a small business or sideline for additional income. I went through a lot getting the required permits and certifications before I could set up my bar, but there are online platforms like oDesk offering an easy way for your to make some extra money without taking away from your regular duties.

You can also make money from your hobbies like writing, baking, or graphic design. All you need is dedication, some business capital, and killer time management skills.

I once had this TL (team leader) whom one day, just decided to put aside a little of what he’s earning to start a small business. He saved up enough and bought himself some kitchen supplies and a huge mountaineering backpack. Everyday he’d fill this very huge bag with packed lunch and merienda and sell them to people on the production floor for extra income. Now that was a better investment than a new pair of shoes.

3.  Franchising

Don’t have the time or know-how to start your own business? Why not be part of a bigger business as a franchisee? Try your hand at direct selling, or running a food kiosk, or driving other people around through a car-sharing service.


One upside to this is you’re buying into a business that someone else already made a formula for. Now, don’t get your hopes too high, just as any other business investment, it gives no guarantee. I personally tried this when I was working as a technical support agent. It was for a small siomai stall near a school. It wasn’t a success, but nevertheless it was my first try on an actual business, and the experience I gained more than made up for the money I lost.

Continued in Part 2...


This post is brought to you by:


MoneyMax.ph is the Philippines’ leading financial comparison site where you can save money by comparing financial and car insurance products and services – fast, comprehensive, and free. We aim to give the power of smart purchase decisions back to Filipino consumers by providing everything they need to become financially savvy. Like us on Facebook to get the latest tips on how to save.

Call centers are unlike other jobs where you have to be mindful of work even after office hours – so use this to your advantage. Rather than spend all of your afterhours partying/drinking/sleeping, why not do something that will give you extra cash? Sure it may require effort, but making money will always require effort.

1) Believe you can make extra money if you want to

I have read Rich Dad Poor Dad, Go Negosyo, and other financial books and blogs out there.  Usually, they have one main idea -- and it is to BELIEVE that you can make extra money if you really wanted to. Learn to see opportunities, rather than loopholes. If you believe it, then you will have the will to make it happen.

2) Educate yourself

Read books on money, wealth, how to handle finances and how to improve your lifestyle. Understand the meaning of assets and liabilities. Remember that what you respect, you will attract -- so if you learn to respect and understand money, you will find ways to attract money.

Here are some easy to understand blogs on improving your mindset when it comes to money. I am not affiliated with these blogs, but I am an avid reader.


3) Try direct selling or putting up a small business


Ever heard of Boardwalk, Avon or Autoload? There are many direct selling organizations that you can apply for.  Selling may require effort, but as I said, getting extra cash will always require effort. Why not get a catalog and sell some items to your office mates? Have them pay by installment or when payday comes.

Another good idea is to have rakets -- sell packed lunches or desserts to your officemates.  Build a small carinderia at home or set-up a sari-sari store.

These are some good blogs for business ideas:

Pinoy Raket
http://pinoyraket.blogspot.com/

Pinoy Business Ideas
http://www.pinoybisnes.com/

VERY IMPORTANT! – NEVER INVEST IN SOMETHING THAT WILL COST MORE THAN P1,000! Beginners should start small and learn the ropes first. Do not go for pyramiding, or a business where you have to pay and you get no physical goods in return! Also remember the golden rule of small businesses – “If it’s too good to be true…then it probably isn’t TRUE!

Direct selling links:
Boardwalk
Avon Philippines
Dakki

4) Start an Online Store


I started selling on Ebay since 2007. Online selling is not only easy but it’s fun as well. Of course you usually need a computer as well as an internet connection for this, but I have observed call center agents usually have internet access.  Find things to sell online, may it be books, toys, or old clothes.

What I personally do is I ask everyone I know if they want to sell old cellphones or electronic items. I then take pictures of the items and sell them on Ebay with interest.  One time I made 20k on profit, so this really works!

See this link for free online stores in the Philippines:
http://designpinoy.com/web/top-10-free-online-buying-and-selling-sites-in-the-philippines/
Thank you Design Pinoy!

5) Stop being lazy


Get off your sorry ass and stop buying those Lotto tickets! You gain wealth little by little, through hardwork, getting financially educated and by saving. Lazy people are poor and will always be poor – and that is a fact.

Any other Money making tips you can suggest?


For tips on Saving Money, please see this post: TIPS ON SAVING MONEY

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.