Saving up without feeling the pinch
As the Philippines saw a steady influx of business process outsourcing (BPO) companies over the past decade, the country’s youth became economically powered in ways they have never been, creating a legion of young professionals whose incomes are nothing like what one earned from a summer job working in the food service industry back in the day. Today, fresh graduates who enter the BPO scene can earn 50% higher than a regular starting employee.
Still, while young professionals may now enjoy unprecedented spending power, it always pays to be smart about one’s finances. SM Development Corporation (SMDC), the fastest-growing real estate developer that prides itself in offering affordable, quality homes for every Filipino, provides a few tips on how young professionals can save up without feeling the pinch.
SET A BUDGET Keep close tabs on where your money is going; that way, you will know if you have any financial leaks (something you’re spending money on unnecessarily) and plug them accordingly. From there, you can set a monthly budget for expenses that are necessary—and stick to it.
TRIM, TRIM, TRIM Be honest with yourself and be able to distinguish between your wants and your needs. Identify what you can trim so that you will enjoy even more purchasing power. For example, list down the cable TV channels that you never watch but are adding to your monthly fee. And why are you still subscribed for a 2,000-minute cellphone plan when telecoms now offer unlimited calls and texts at dirt-cheap prices?
CONSIDER SECONDS If you’re an avid gamer or a bookworm, there are burgeoning online communities that trade or sell pre-used game titles that are in excellent condition; while stores specializing in second-hand books have sprouted throughout the country. Imagine the savings you will make in going for seconds.
DON’T FORGET THE LEFTOVERS Pack the leftovers from last night’s dinner and take them to work. Not only will you help declutter the family fridge, but home-cooked meals are infinitely more delicious and healthier than what you can find at the cafeteria or some fast-food joint. The substantial savings you make from not lunching out might surprise you.
A THIRD VENTI CUP? REALLY? Sure, a large cup of steaming-hot café latte is one of life’s little pleasures, but maybe you should rethink that second or third cup you consume on a daily basis. Not only will it be better for your weight (those lattes and frappucinos pack quite some calories) and your nerves, but imagine the money you would have saved at the end of the month from cutting back. The sum would also be nothing to sneeze at.
By adopting smart ways in managing your hard-earned money without crimping your style, you can begin to consider investing the money you save into opportunities that yield genuine long-term benefits.
The money you save from cutting back on blended coffee drinks, for example, will be enough to acquire your very own condo unit at SMDC’s MyPlace, an innovative four-tower, 23-storey residential condominium project that caters to young professionals. Strategically located in the South Triangle area of Quezon City, MyPlace offers young hard workers an affordable option to enjoy independent living.
“Our payment schemes can run as low as P5,000 a month, a very affordable price for the fulfillment of their independence. Every month, they can actually set aside the accumulated value of two blended coffee drinks a day to buy a unit,” said Imee Landicho, SMDC assistant vice president and project director.
Each unit can be easily personalized—SMDC’s nod to its market of highly individualistic young professionals. Besides being a platform for individuality, MyPlace also offers non-stop WiFi Internet service, swimming pools, a SaveMore Market, Chillscape Garden Lounge, and a jogging path. Its location—bounded by Panay Avenue and Mother Ignacia Street—also provides its young and forward-thinking residents easy access to major transport systems, plus a host of business, entertainment and leisure establishments along with major medical and educational institutions.
So, young professional, start getting smart about your money and consider the opportunities available to you to grow your earnings. Visit www.smmyplace.com or call 858-0300 for