Beyond Debt-free: Makati Employee Living


Just a few thoughts. I am now in the Philippines for about 5 months now since October 2013(yup only 5 months because I nearly spent the whole October going here and there like here). Also juts like I mentioned in my last post I just started in my new job here in Makati.

So how is my having a new job in Makati help you become debt-free?


Well to start with being away working in a different country changes one’s perspective. When I was working abroad at US$14/hr it would look like it’s a huge salary but if you consider living expenses there, such rate is just like above minimum specially if the work place or site you are in requires you to drive yourself to work because there is no public transport. But that 6 years work experience abroad had help me save and eventually invest in stock. It is funny because when a Pinoy is out there working he can save there even with the high cost of living but if he or she is in the Philippines it seems everyone is buried in debt.

So what can we do to save and be debt-free while working in Makati as an employee?

First the first thing you check out or think about is your salary. As they say if you want to have money you got to increase your sales. So if you are an employee technically your salary is your sales. Make sure that your net pay will be enough to bring you and put food in your tummy when you work in Makati. There are lots of employees who just jumps into a job opportunity because it is in Makati(that is having a high-end lifestyle) even if the pay they would get is not enough. They would argue it is for experience or maybe it is their first job and so they would settle for minimum or a bit above minimum wage. I am not saying don’t get the job but rather when ask what is your expected salary give your might be employer a realistic amount that would satisfy you both.

Second would be as always to look for alternatives for your day-to-day expense.

The common thing would be would you be still live in Bulacan, Antipolo, or Cavite and endure your day-to-day commute of about 2 hours going to work and 2.5 hours going back home or rent a bedspace or a shared apartment in Makati or nearby cities? Will you bring your homecook or yesterday’s leftover food for your lunch or go lunch out in the Jolly Jeep just around the corner from your office or in the nearest fast food? These are the common things you get to decide on in order for you to either stay afloat or at least save some.

Eat at the famous Jolly jeep near your office in Makati


Now why did I end up writing this post?

Actually the idea came when I get to interview one applicant for the company. She has the qualifications and the skills for the job but her asking salary was for me way low. I asked her if she would relocate since she is actually from the province and she said that she would share a space with a friend. Yes she was aiming for the experience to work in the city and it is indeed a good move since she is from the province but I hope she really did her math with the asking pay she indicated.Lot’s of employees in Metro Manila complain that a week after getting their paycheck they are already short.

So always think realistically on how you handle your finances when you work in cities like Makati. Don’t be afraid to raised the salary specially when you got the skills. Be mindful of the expenses you will have to pay while working in an urban workplace.

Work is good and as most people say be thankful even if at the end of the day you are dead tired from work at least you have a source of income to satisfy your hungry belly.

About the blogger

Louis Delos Angeles is a Certified Public Accountant, blogger behind Investing in Philippines, and author of Investing in Stocks: Preparing for the future small amount at a time. Check him out in Google+ Learn more about Louis and his financial freedom advocacy here.

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