Thank God it’s Friday and “Recovery” day! My actual income came better than expected boosting my D-to-E ratio back to the green (31.8%) from my previous ratio. My balance also recovered to 120.36% compared to my previous balance and 14.30% better than my projection. This day has been my all-time high so far after 5 months (November balance). I am also waiting for today’s NAVPU to update my balance.
I’m having trouble coping with my current employment due to unavailability of funds. My back pay hasn’t been released yet due to certain requirements. My training batch mates and I did not receive our first pay last time. I cannot sleep well, because of the heat (maybe I should opt to buy an aircon!). Last April was a bit of a downturn for me since my expected funds did not come. I was 44.08% below my previous balance and 52.78% below my projection.
The graph also shows my balance as of May 1, 2013. It’s hard to keep up because I keep on sliding back towards my previous balances, I just pray that I could get back on track and pay off my credit card and loans by the end of the year. Currently, I am 39% in attaining my balance goal but sled further from my D-to-E ratio goal at -25.29%. At least the economy is also helping me through my stock shares which is constantly climbing. I don’t want to pull out some shares just to pay off some of my debt because of the opportunity cost that I may incur.
I just hope May 10 comes swiftly and that we would have our full month’s pay by then or else I’ll be crippled by debt. I may have to readjust my projections to incorporate my credit card debt as well.
Starting on my new job has been quite an adventure! My “resources” are dwindling since my next pay day is still on the 30th! I know it’s my fault since I did not establish my Emergency Fund in the past. I am barely living in trickles of what I have sold and what I have saved and loaned from the past few months. I just hope I could still bear everything.
I am currently 43.77% below my previous balance and to make things worse, I am 51.94% below my original projection. I really do hope that my salary would come this 30 and that my backpay be released as soon as possible! At least it would help me a lot with my current situation!
This is a follow up on my post yesterday on how to budget money, as of now, I am currently paying off my loans. Currently, I am 65.89% on attaining my financial balance goal and 16.63% on my D-to-E ratio goal. My D-to-E ratio is currently pegged at 1.6848 but I think I could make this better by the end of summer. These numbers are currently changing due to my adjustment period when I move to Bataan. I’ll be updating this page as soon as I get adjusted and get more information.
Fortunately, I am 3.33% better (March balance) than my previous balance making it 7.77% better than my projection. This April, I am 9.55% below my last month’s balance but 5.54% better than my projection. I am nervous with this month’s balance that it might fall below my projection which will hurt my overall balance and projections for my upcoming months.
Comparing my projections from 2011 up to the present I think I’m doing better, I still have to do better! So far I won’t be reaching a plateau yet and I hope I won’t in the near future. The balance from May 2013 to December 2013 are still projections.
The pie chart above is my current budget profile but I have to adjust this as soon as I pay off my debts like below.
In a wishful thinking, I should be able to get the rest of my pay by the first or second week of May and this should include the following:
- Pro-rated 13th month pay
- Unpaid salary due to cut-off – most companies implement 10th and 25th cutoff time for payroll. Assuming you resigned on the 30th, that means your backpay includes 5 days of work.
(source: http://www.callcenterbeat.com/how-to-compute-back-pay-in-the-philippines/ April 3, 2013)
I just hope it covers what I have loaned for.
One of the many questions people ask me is how to budget properly. This sample computation shows how to budget a Php10700.00 salary after tax (Php12000.00 gross).
The graph above shows a sample computation when you are starting to build your emergency fund. An emergency fund is something you must first establish. Emergency funds are usually 3x or 6x that of your gross salary. Therefore you must save Php36000 to Php72000. This fund must only be accessed if you get laid off or resigned in a job and must be replenished as soon as possible. I’ll make another post on how to use time deposit products of banks to maximize potential earnings.
The graph above shows a sample computation of a budget after establishment of an emergency fund. As you would see, you could now use extra funds (“others”) to buy “wants” or you could put extra funds towards investing. For visualization, please click here…
If you have any questions place them in the comments or hit like
2 years, 7 months and 13 days, as my LinkedIn profile tells me how long I have stayed in Malayan Colleges Laguna as an Assistant Professor. I gained friends, memories, stories, lessons, knowledge and wisdom. It has been a long journey of twists and turns, and ups and downs. My students have always been my inspiration to move forward and onward. My colleagues have been there to support my back and taught me to accept criticisms.
Anyway, This month’s balance is 13.06% better than last month’s balance, though I’m still in the middle of a lot of pressure because most of my funding comes from credit and loans. I’m still hoping for a better backpay to pay back my loans from last month and this month. Citibank rejected my application again maybe due to the high risk they could incur with me due to my credit (being eccentric, I always see myself as an investment). At least balance is 15.71% better than my projection.
Sigh… I hope everything goes better.
Job hunting nowadays can really be a pain! Based from my experience, it really is better to stand out from the conventional and advertise what you can offer. I know I don’t have that much of a success rate in terms of job hunting but I know this will help.
1. Have a good resume: Not just the simple old resume that applicants give to their potential employers but something that would stand out. Treat resumes like flyers, that you could give. It contains little information but packed with all the good things like your recent employment, your skills, your degrees and awards. Save all other information to professional networking sites like LinkedIn.
Always have a template prepared and update it once in a while.
Use a QR Code to store your information. This will allow your potential employers to save your information in an instant to their smartphones. All you need is a QR Code Generator and a QR Code reader for your smartphone. I think the most common reader used in Android phones is the NeoReader.
2. User 21st Century Technology (Social Networking Sites): What do I mean by 21st century technology? Use social networking sites to advertise yourself! LinkedIn is a professional networking site used for job hunting. It stores your resume online from contact information to certifications. You could also set your profile publicly so it can be googled or you could share your public profile link. Mine can be scanned or clicked on the right side of the page (QR Code and link). You could also use Rapportive to integrate your social networks into your gmail account. It aggregates your LinkedIn, Twitter, Facebook and the all important Gmail into one user interface. Rapportive lets you see your contacts’ information beside your email which pulls it from social networks.
3. Use Old School Networking (Business Cards): Make personal business/calling cards! You might not know the next time you are in a meeting room full of CEO’s and directors. Always carry a card or two or maybe three just in case. There are many calling card printers out there that you could give your layout but I suggest contacting uEdge. They could generate QR codes from your contact details but you could generate them your own.
4. Showcase your Skills: Skills are important if you want a company to hire you. Try to showcase them in a website or facebook page. Try to make a project while you are waiting for a call. Don’t make yourself idle.
*Tip: one last tip, make your email address more professional looking. Don’t use firstname.lastname@example.org or something similar.
Please hit the comments if you have any questions.
4 more days and then I’m gone.
Make-up exam for LE1, LE2 and LE3 will be tomorrow, from 2:30 pm onward. Please reply to this post, tweet or PM if you’ll be taking the exam.