Kadangyan

The Best Time To Save

You might be thinking about the best time on when to start your way to be financially independent. A lot of people that i dealt with normally say;

1. When they have a steady paycheck

2. When they are earning more

3. When they are older

Worst case scenario;
4. No plans at all

I am 26 years of age now, I have a wife and kid. My wife don't have a job yet. My siblings are also depending on me. I am also currently talking my MBA, I want to finish my graduate school somehow. I just want to share my personal experience about this topic which I believe it's a very good example concerning this matter. 

I remember when I was in college. I only get money from two sources. First, I was a working student in our school. The school pays our tuition fee and miscellaneous fee plus an allowance of P475 per 15 days in exchange of our labor. Second, I also receive a bit of an allowance from my parents. Despite not having enough, I was able to save P2,000 or more at the end of each year. 

After graduating I immediately got a job in one of the BPO company. It pays well, where during the 1st year of my stay, I was earning P10,000/ month. On the 2nd year my salary increase to 12,000/ month. The sad news is,  2 years passed by yet I haven't saved any. Worst thing is, I also spent my savings during my college years. I was thinking then, maybe when my salary increases that I can start saving. Third year stay at the BPO industry, they increased my salary to P14,000/month. Yet, I resigned not having any savings from my first job.

Well, after I resign on my 1st BPO company, I got another job on another BPO company. At 1st the pay is P14,000/ month, that's the same with the rate I had with my previous job but after i got regularize it went up. just so you know I have been doing a lot of overtimes as well during those years. am proud to say that I maybe one of the company's asset when it comes to overtime. So maybe you can imagine I am already earning a bit compared to how I was before. However, 4 years ended in the BPO industry yet I wasn't able to save anything. (This cant be happening . . ! )

Gladly, on my 5th year working,  realization came to me, I started with a plan to save P20,000 (a secret savings that my wife don't know lol) by the end of the year, which was some funny new years resolution. It started out well, as a matter of fact I was able to save the said amount after the 1st quarter, so I change my goal to P50,000. which again I was able to meet somewhere after the 2nd quarter. And maybe you wont believe it but that year ended very well.

6th year came, I started making more exciting plans and setting goals. The year is not that good compared the 5th year. some challenges came in but whenever I think about my plans and goals I get more inspired. I got hook up with saving, investing, increasing my financial worth and the people around me. It just started with that simple goal, it started small, now am loving it.

# The figures are not that much but I hope you get what i meant to say #
# This are some provincial rate for a BPO company #
# Our cost of living here is not that much #
# Comparing the salary to other institution, I say it's fair enough for a married guy like me #

I believe I am not the only person who experience such. Take note that it's not about the age, nor the steady paycheck, nor the amount that you can save. It's about developing the habit to save little by little. Start early, start now. I sure you will be surprise what that small amount would look like 10 years from now.

Yet again, you are not alone in planning and managing your way to financial success. You can always team up with your trusted financial adviser to make it easier and safer for your wealth build up.