It was really a sad reality here in the Philippines that many Filipinos earn just a minimum wage. It may be enough to some families but most of us really find it very hard to budget it and even have a bank account or a savings. We Filipinos are known to be hard working, committed and dedicated at work, that is why a lot of foreign employers admires Filipino workers.
Recently, an anonymous person shared how she managed to make her minimum salary grow bigger. This one shared her inspiring story in “PESO SENSE”, it is a financial literacy page online that inspires other people to save and invest their hard-earned money wisely. She hide her identity for security reasons.
She revealed that she only earns P12,000 salary a month in which she uses very wisely. She gave P3,000 for her parents, allotted the P2,000 for their bills, and setting aside P2,000 for her allowance and another P5,000 for her savings.
She was also lucky that her workplace is just a walking distance from their home. Although, it was never easy for an average earner to save a million with just a small amount of money and time she decided to start her own business. She has P20,000 as a capital and became a reseller. Being a reseller, she doesn’t need a lot of things to start or even a big capital. But because of that she was able to make her capital grow.
When she was already a trusted reseller, her suppliers allowed her to pay them when her items were already sold out. It gave her a lot of time and chances to make her money even bigger and she put her profits to buy new items at a cheaper price. Who would have thought that in just a span of 7 months she was able to make her P20,000 into P120,000 real quick! Amazing isn’t?