Can one really save P124K in less than a year? Ranjel Señeres Layog will definitely say Yes!
There is this highly commented issue on the Facebook page Pesos Sense about the testimonial sharing of this young man, Ranjel, just 25 years old who was able to save more than a hundred thousand pesos in less than a year by supplementing his work salary with his food sideline.
Ranjel said that the sharing in Facebook is not to boast, but to remind himself that he is proud of what he has achieved, and at the same time to give thanks to the financial group #pesosense that he is a proud member of.
At the age of 25, he was able to save a total of P124K in bills and coins within 10 months. How did he do it?
He said that he works at a BPO company earning P20K monthly. At the same time, he also sells empanada and ‘pagkain’ viands to his officemates. What he sells is also what he and his family eats at meals, so that’s savings right there.
But before he was able to do that, he has things to let go first. Things like gimiks or going out, malling, buying of gadgets, and more. Also, he has set a weekly budget of P1,000 and makes sure to strictly abide by it. If there is any money left from his budget for the week, he puts these into his coin bank.
He thought about going into business, a sideline, a racket to create another income stream. Confident in his ability to cook delicious food, his first choice to earn a sideline income was cooking food and selling the same to his officemates.
Where others may balk at the idea of ‘mag-tinda ng pagkain sa office’, Ranjel push on. Read this testimonial below:
POSITIVE and NEGATIVE REACTIONS
Ranjel showed his savings full of crisp one thousand pesos bills along with a handful of coins, see picture. His sharing was in the hope to also inspire fellow members of said FB group to start saving. But as you know, there will always be negatrons.
Instead of cheering this young man who juggles work and his food sideline, some attack him and belittles all his efforts, like what you can read below.
This commenter even alluded that this young man may even be selling drugs that’s why he was able to save as much as he did. Joking or not, that comment was uncalled for, and only reveal how envious the commenter must be of what Ranjel has accomplished.
Thankfully, other Netizens were quick to come in defense of the young man. Confirming that it is not impossible for Ranjel to achieve that savings since he not only has his salary from his BPO job, but that he also earns and profits from his selling of food.
BPO employees normally enjoys high salary rates compared to other industries in the Philippines. Majority of BPO employees are millennials. Ranjel stands-out in his determination to say ‘no’ to the temptations that usually surrounds BPO workers like going for expensive coffee on a regular basis, buying and flashing the latest gadgets, going on getaways and trips, dining out at restos as a habit, etc.
One of his officemates even said that “Madami po syang suki sa office!!! Isa na ako dun..” and that “Dapat maging proud pa kayo sa bata dahil nakaka-ipon sya at may plano sya hindi yun pinag-iisipan nyo sya ng masama…”
LESSONS TO LEARN
While it is true that the average Filipino employee earns below his P20K monthly salary, or that unlike Ranjel who is single and no family to fully support, that there are many pinoys who are responsible for the entire family’s food allowance, utilities, tuition, rent, etc, still there are TWO LESSONS that we can all get from Ranjel’s experience and testimonial, and that is to start saving and to create additional income stream. Doing both will pave way for a more rewarding financial future.
No matter your salary range, start paying yourself first every single time you get your pay check. Save, and save regularly. Your small savings done regularly will become big eventually.
Don’t rely on only one source of income. Start thinking of additional ways in which you can earn. You can do side businesses, tutorial, online work, crafting and selling your goods, start a stock investment account, and many more.
Lastly, Ranjel shared that he opened a bank account solely for his savings. The coins remain in his coin bank, but the bills he deposits asap to his bank account.
If you find it difficult to keep your hands off the money you save that’s lying somewhere in your house, iSensey suggest that you also open a separate bank account for your savings.
The recommended option would be a savings passbook account as it helps you better track how much money you put into your savings each time and the total amount you have saved. But if the opening amount for a passbook is too steep for you right now, go for an ATM account.
Hopefully, the testimonial of Ranjel will inspire you to seriously start saving and to think about finding additional income stream.
Read other inspiring stories on iSensey or share your own! We will be glad to feature it! Send your testimonial to isenseypublishing/at/gmail.com.
Story source: Peso Sense on FB