Buying something which you cannot aford.

**[archie]** · July 27th, 2013 06:48 PM

Originally Posted by foresterx

anyway btt in the philippines i mostly notice this from call center agents. i know there's a lot of hate in this forum to call center agents because of their SC status. but it's the truth, i don't get why they have to have the latest gadgets, branded clothes/bags/watches even thought their making only what 20-30k a month. unlike in other companies most of the mid level employees don't even buy expensive gadgets or think about buying them.

I have nothing against call center pips but I think the sc status comes from the fact they accept even high school grads. meaning, most of the under grads don't have much (that's why they did not finish school) and when they see money, they have to get the status right away. It's more of a defensive mechanism in my opinion.

**yebo** · July 27th, 2013 06:53 PM

interest rates on savings deposits are now down to 0.75%. inflation rate for the month of june 2013 is 2.8%. so you actually lose money if you put in in the bank. real estate loans now down to 5.25% 1 year fixed and 6.5% 3 years fixed.

i think the thread should be more about buying luxury items or unnecessary items that one "wants" but does not "need".

**badkuk** · July 27th, 2013 07:30 PM

Originally Posted by [archie]

I have a friend that works for the loans department. selling point nila lagi is kapag nagiipon ka for a car or house parang never makakabili dahil sa inflation. Every year taas price Lalo ng car so mahihirapan is Juan Dela Cruz. kunin mo na Oto ngayon pay for 5 years sayo na. parang nagtutulungan lang daw sila ng bank.

sounds more like pressure sales to me: act now, buy now, bukas wala na to, don't think just buy

**vinj** · July 27th, 2013 08:20 PM

Originally Posted by [archie]

I have nothing against call center pips but I think the sc status comes from the fact they accept even high school grads. meaning, most of the under grads don't have much (that's why they did not finish school) and when they see money, they have to get the status right away. It's more of a defensive mechanism in my opinion.

One of my closest friends works at a BPO (first job after college and worked his way up pretty fast) and yes, i agree they kinda spend a lot (at least those that i have met at one time or another). I earn much less than him, i have two kids to send to school, a property to amortize, and yet my financial standings seem to be better. I really berated him the last time since we got together as he still lives in his family home, has credit card debts to pay up and just bought another car (through bank financing). They spend for things that cost a lot yet don't appreciate in value or they can live without those stuff really. Been encouraging him and his wife to get their own home already but it seems they can't afford the money out to get a decent loan package with the bank.

I personally think it's really financial discipline that some lack; couple it with SC-encouraging social media, tapos na boxing.

**A121** · July 27th, 2013 08:23 PM

Originally Posted by uls

i gets borrowing to invest

but borrowing to spend on end-user consumption is sooo wrong

hahaha. true. pero that's how most humans act. and, if one is starting a new business here, medyo mahirap. gotta pass through bureaucracy sa registration. mahirap din umutang sa local banks. so ayun na lang, bili na lang ng mga gadgets para may pupuntahan ang pera. :jazzybass:

bukod din sa pag-identify ng needs and wants, dapat magkaroon ng goal setting. if you want a new car and make the monthly payments, find a better paying job.

**[archie]** · July 27th, 2013 09:05 PM

Originally Posted by badkuk

sounds more like pressure sales to me: act now, buy now, bukas wala na to, don't think just buy

yes basically... it's their job to make loans happen. low down payment car loan with sure approval is very tempting and needs little to no encouragement to avail.

Originally Posted by vinj

One of my closest friends works at a BPO (first job after college and worked his way up pretty fast) and yes, i agree they kinda spend a lot (at least those that i have met at one time or another). I earn much less than him, i have two kids to send to school, a property to amortize, and yet my financial standings seem to be better. I really berated him the last time since we got together as he still lives in his family home, has credit card debts to pay up and just bought another car (through bank financing). They spend for things that cost a lot yet don't appreciate in value or they can live without those stuff really. Been encouraging him and his wife to get their own home already but it seems they can't afford the money out to get a decent loan package with the bank.

I personally think it's really financial discipline that some lack; couple it with SC-encouraging social media, tapos na boxing.

its sad really, having the opportunity to earn big then spend big on depreciating assets.

**andywesteast** · July 27th, 2013 09:36 PM

Originally Posted by jhnkvn

I also do not have a regular credit card (I cancelled all of them) so I'm pretty much living on cash right now. Well.... aside from my credit-card-linked-Paypal that is

If you cancelled all of your credit cards, how do you pay for your credit card linked Paypal?

**tagalnasaabroad** · July 27th, 2013 10:10 PM

Originally Posted by wezz_zzew

Karamihan sa mga call center agent na kakilala ko, after nila maka one year sa work, nagbibilihan ng mga bagay na akala nila ay kaya nila. One example is buying a car (mirage). At first tuwang tuwa siya dahil de kotse na siya, however, after a number of months, nalaman ko na lang na patong patong na pala ang problema niya sa pera. Hindi nya inexpect yung mga additional expenses sa pagkakaroon ng ganung "privilege" like gas, maintenance, parking, accessories. Ganito ba kayo?

Ako hindi ganon..i never worked as a call center agent..after a year of working zero ang savings, commute pa rin sa bus, was denied a credit card due to absence of bank account at nakitira lang sa apartment in mandaluyong..

Maswerte kakilala mo naka UTANG agad ng mirage pero malas din dahil financially illiterate pala..magagalit si suze orman nyan..

madali lang ba trabaho sa mga call centers..?

**Phoenix67** · July 27th, 2013 10:12 PM

When i was with my first job, ganyan ako...spend everything kahit hindi kaya....bahala na si Batman! Now wala naman ng issue sa akin ... Kasi I think kasama ma yan sa growth cycle ng taong nageevolve to maturity.

As long as you dont kill other people to pay for your debt...there is no issue about that problem.

**Boy Bastos** · July 27th, 2013 10:59 PM

Originally Posted by Retz

nangangamoy SC thread ito.

Oo nga. Expect mo na rin na madami magpopost dito ng cash lang sila kung magbayad dahil ayaw ng credit card maski hassle magdala ng cash sa mall.

Of course, cash payment is good but it is better to have a credit card. If you don't have a credit card, it's either you don't have a bank account of your own or still living with your payrent's money.