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PH BPO Workers Must Save for a Rainy Day

by: Sarah Joson

Thursday, October 31, 2013 | Outsourcing News |

Financial Advice for the BPO Workforce of the Philippines

According to one of Sun Life-AIM’s financial planners, Joyce Tankeh, the younger group of business process outsourcing (BPO) workers is noticeably spending more because of their larger than usual salaries. A fresh college graduate who is working in the industry can earn at least P20,000.

Tankeh said BPO employees should create their own analysis of the benefits that they receive from their companies so they can at least make estimates for their future. This is really important because not all BPO firms offer retirement packages.

The financial planning expert added that this particular group needs to have goals. For instance, a short-term goal could mean a new gadget or an out-of-the-country trip. Another type of goal is medium-term, which could be buying a house or a car. The last one is the long-term goal which basically focuses on retirement.

Early retirement was also discussed by Tankeh. She said it’s a popular decision among her clients who are in their 20s. She concluded that apart from setting goals, BPO employees should work on a strategy in achieving them, which includes being frugal.


Source:
http://www.abs-cbnnews.com/

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