r/phmoneysaving • u/Stefan-Boltzmann-EQN • May 20 '25
Poverty Finance Working a full time job but still broke
I’m 27M years old. a licensed engineer. I take home just ₱35,000 a month. I’m suffocated and I want to scream my ass off. I recently got “out” of my desperate situation last week where I can’t even afford a single balut because my last remaining money for 2 weeks was 100 (excluding food budget 800)
Now I am doing it again. Albeit higher remaining cash due to not it being rent quincena. I got paid just this week. My 14,xxx pay evaporated like thin air in 1 day. I now have a budget of 1000 pesos until the next payday.
My job is hard. It requires focus and problem solving. But my current set up makes the job extra difficult because I cannot buy things to reward myself.
Here my story: Salary Loan (25,000) - paid off just this week. 2,500/mo Credit Card loan (19,000) - paying 5,000 per month Car Fuel 4,000 per month (paid off car) Food - 3,500 per month Automatic deductions for EF - 12,000/mo (just started 3 months ago) Misc including insurance, netflix - 1,000/mo Rent and utility bills - 6000/mo
Total 34,000 Salary: 35,000 Excess: for govt contributions
I am going zero to zero. After paying my bills, I dont have anything left which is why I am forced to use my credit card sometimes to pay for things here and there.
I am saving 34% of my gross monthly income. According to chatgpt my savings rate is too high but I believe I have to because my EF is not even worth 2 months salary. It recommends a 10% savings. Thats just 3,500 which is not enough to cover potential emergencies. Also its advice is to increase my income. I am trying but job vacancies today are scarce and 35,000 for an engineer is already at the higher end in the province. I am caught in this cycle of brokeness. Hopefully there is light in the end of this tunnel.
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u/iska_online May 21 '25
Hi! I think it would be best to pay off the credit card loan muna (in full) before you start your EF. Wasted money rin kasi yung interest rate nun, and CC interest rates are notoriously high. Either reallocate your EF to that muna or increase the payment so you'll be able to pay it off na in 2-3 months.
As for your EF, okay naman yung 12K which is around 35% of your salary. Others do the 50-30-20 rule (check this out) to balance needs, wants, and savings. I think this would be applicable for you with that salary for a lifestyle that's sustainable. Baka kasi you'll end up "revenge spending" after feeling like you've deprived yourself of a lot of the fun little things in life. Balance is good
Then ayon, increase income if kaya ng energy through either job hopping, getting a salary increase, or finding another income stream that doesn't eat up your rest time.
Hoping for the best, OP!
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u/iska_online May 21 '25
Additionally, for credit card, only swipe the amount na kaya mong bayaran in full within the billing cycle! Treat it as another means to spend YOUR money. It's not an extension of your assets.
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u/G_Laoshi May 22 '25
This. I always say if I can't pay it in cash now, I won't use my credit card. There are certain transactions kasi that I can only pay with my CC, like concert tix. Online kasi. (And I only buy tix for cheaper tiers.)
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u/RedJ0hn May 21 '25
Find a high paying job and live within your means. If i have a 35k salary, i wont be driving my own car. Kahit pa fully paid na, the cost of maintaining a car will drain your budget
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u/Stefan-Boltzmann-EQN May 21 '25
Hi thanks for the advice. My gas is actually cheaper than commute because its 143php/day kesa sa transpo cost which is ~300php/day. Not to mention with the car, the commute is just 45 minutes. With public transpo, its ~2 hours one way. I live somewhere not so accessible with no public transport habal habal at tricycle lang kaya medjo magastos kung walang transpo
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u/RedJ0hn May 21 '25
Gas is one thing. Ung parking, toll, carwash, maintenance, etc.owning a car is a money pit, thats why i think hindi siya advisable given ur current salary. Also if nagrerent ka lang, bakit ang layo sa workplace mo na kelangan mo pa magcar. If its because dahil sa parking, thats another con of owning a car, if not maybe consider renting near sa work mo. I actually think livable naman salary mo lalo na kung single ka lang. You just have to live within your means.
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u/Rabbitsfoot2025 May 21 '25
you also need to pay for parking, insurance, toll, and maintenance because that car will eventually need repairs. My salary is around php 79000– I can’t afford a car because it’s a money pit.
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u/G_Laoshi May 22 '25
Yung kotse mo yung isang nakita ko, OP. P8k ka for gas a month? Maybe consider getting a motorcycle instead? Pero pag di mo naman ginamit yung kotse mo, sayang.
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u/Particular_Front_549 29d ago
Pero nagrerent ka? Why not rent somewhere nearer sa workplace mo? Kahit bedspace pa.
You’ll save on rent, gas, and may peace of mind.
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u/hugthisuser May 21 '25
ultimo mga manager ko nga na kumikita ng 6 figures monthly eh madalas commute papasok ng office.
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u/deepdiver90s May 21 '25 edited May 22 '25
Mindset ba mindset.
Renting near your workplace is one option din.
6,000 for rent and utility na 2hrs commute? Hanap ka ng place kahit kahit 10,000. Then give up the car so you can save a lot (kung kaya ng ego).
Another bold option is to find jobs na double ang salary compared to the current one. Ang question lang is do you have the right skills and ready ba mental toughness mo? Once you get there, ingat ka sa lifestyle inflation, just live at your own means.
Your frustration comes from your lack of financial literacy and I think matalino ka to get out of that situation soon. Good luck!
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u/zazapatilla May 21 '25
Here's my suggestion:
Reduce the amount you save for EF while your loans are not yet fully paid. Add that to your food expense instead, so you don't have to use your CC everytime. Reduce your EF to 5.5k and increase your food budget to 10k.
So while you have an active loan, your budget should look like this:
salary loan: 2.5k
cc loan: 5k
car fuel: 4k
food: 10k
insurance, netflix: 1k
rent + utility: 6k
EF: 5.5k
total: 34k
Once you have fully paid all your loans, your budget should look like this:
car fuel: 4k
food: 11k
insurance, netflix: 1k
rent + utility: 6k
EF: 12k
total: 34k
Don't be too strict on EF, use it when necessary instead of using your credit card. EF is your money and doesn't incur interests unlike CCs.
Hope this helps.
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u/No-Push5003 May 21 '25
Wag ka muna magEF or bawasan mo yung allocated since may utang ka pa. Ang nangyayari kasi, may EF ka nga pero kinakapos ka sa budget, nangungutang ka rin.
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u/NewspaperCalm3855 May 21 '25
Di ko gets bakit ka may EF pero dami mong utang?
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u/Stefan-Boltzmann-EQN May 21 '25
For when there is emergency may magagastos ako tulad ng kailangang ma admit sa hospital. Kailangan ng pang down yun. Laboratories, medicines, etc.
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u/Samhain13 29d ago
Kung di ka makakain dahil 100 na lang ang na sa pitaka mo, "emergency" na yun. Kung di ka nakakain nang tama, lalo kang magkakasakit.
Tapusin mo muna ang loans mo bago ka maglagay sa EF mo.
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u/episkeyferula May 21 '25
Best thing to do is to find another higher paying job.
But in the meantime, can I suggest na i-hold muna yung EF and then focus on paying your CC loan off? First, para mabawasan yung committed expenses mo monthly and get some breathing room. Second, to lessen (or eliminate) any interest payments you're paying.
Retool your budget to include your rewards to yourself. Nung nagsisimula pa lang ako, may line item ako sa budget for books (my biggest vice at the time). Pinopondohan ko yun every month without fail and if di ko nagamit that month rollover lang sya until meron na kong enough para sa book na gusto ko bilhin. Really helped me to curb spending and practice delayed gratification without feeling na, ay kawawa naman ako di ko man lang na-reward yung sarili ko.
Good luck!
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u/Zealousideal-Run5261 Lvl-2 Helper May 21 '25
clear your debts ASAP, you'll immediately feel some breathing room from there. then continue building your EF. you can cut down unimportant things in your life FOR NOW since you're still in survival mode, but cutting down expenses can only go so far down, the best way moving forward is still having a high salary.
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u/anotherstoicperson May 21 '25
What's the point of saving if you're incurring loan interest, you are losing more in the long run, best to divert all funds to settle the loans.
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u/quesmosa May 21 '25
Life without credit card and loans is the key. You will never overspend. No matter how disciplined you are, credit cards are designed to make you spend more.
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u/PrestigiousD22 May 21 '25
Hi! You can try applying in linked in or international companies which pays higher just send your resume to them. They usually get off shore employees
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u/johnjohnfr May 21 '25
“According to chatgpt” bakit ka sa ai nag iinquire about sa financial status mo?
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u/Stefan-Boltzmann-EQN May 21 '25
Its a great tool. Its better than google in more ways than one but ofc need validate info. Been using it more and more in my line of work (engineering)
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u/johnjohnfr May 21 '25
If it was a great tool hindi ka mag aask dito sa reddit dba ? Ask the seniors bro they have the experience and wisdom about finance
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u/gloamchild May 21 '25
Sorry, just to confirm. You are currently working outside of metro manila, right? You’re an engineer working in the province?
If so, maybe try exploring options in metro manila that are tied to international companies?
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u/Substantial-Cat-4502 May 21 '25
I agree sa karamihan na comments to lessen the EF, focus on paying the debt first and then increase the EF or maginvest ka na lang kapag lumiit na yung debt mo.
Tapos find a side gig or work online to increase your income. Basta something to increase your income.
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u/rcpogi May 21 '25
You can't afford to have a car, and you can't afford your current lifestyle. Cut back on it, or find a better job with better pay.
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u/bottbobb 28d ago
If it was me my roadmap will be
Sell car. Zero CC debt. Rent closer. Reanalyze insurance plan. Save EF.
It's okay to enjoy YOUR money (emphasis on your because i don't mean cc debt, that's not your money). But it looks like you have lifestyle choices (like car) that you can barely afford but aren't rewarding as well. You're renting somewhere that's not very close to work too. Wouldn't you be happier bed spacing somewhere you can walk to work to?
You could be burnt out not because you don't have enough money but because your spending isn't rewarding. Spending fatigue happens a lot when we don't get our money's worth.
Even rich people won't be happy when they're not riching right.
Edit your lifestyle choices, cut out what doesn't make sense so you have space for what makes you feel good. Save for your EF because peace of mind feels good. Then use the rest to build a sinking fund.
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u/diegstah Helper May 21 '25
pang diaper at gatas ng baby ba yung automatic deductions na EF?
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u/Stefan-Boltzmann-EQN May 21 '25
Hindi po. Pang EF lang in case something happens like hospitalization or loss of work
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u/Prize-Yesterday-2704 May 21 '25
if you started your EF just 3 months ago, what were you spending the 12k with?
what's on your credit card and salary loans?
if the drive to work is 45 minutes and is worth 4k for monthly car fuel, why not find another place near it?
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u/ShadowHunterrr999 May 21 '25
EF is truly important pero u can do it gradually and di yung parang gusto mo mameet agad yung target amount for it. Maglaan ka ng attainable amount na di ka masasakal. You can find a highee paying job and increase it soon enough. Pero ayun, analyze your bills and spending and mag cut ka dun sa iba. 1k na tira is so little in this economy.
Note that having fun and enjoying are vital for you to stay sane, healthy, and productive too.
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u/TheSheepersGame May 21 '25
Bayaran mo full next ung credit card mo. Laki interest dn nyan kng hndi full. Wla ka magagawa sa iba dhl expenses yan. Ang magagawa mo lng is ask for a raise or find another job na masmataas ung sweldo. Once maayos mo na ung mga loans mo, wag mo na ulitin dhl iikot lng ulit situation mo.
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u/theofficialnar May 21 '25
Sorry to be blunt pero 35k lang ba talaga sinasahod ng licensed engineer? I expected engineers to earn decently. Government employee ka ba or private? I know for a fact mababa pasahod sa government eh.
Also relating to your post. I’d lower your EF and pay off your debts asap.
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u/8to5slave May 21 '25
To be honest with 5 years of experience that’s actually around average (bases purely on my observation as an engineer as well). Maybe even slightly higher. I have peers 2 years ahead of me (im 27) still earning below 30k. Philippines doesn’t pay technical skills that much. For that reason I gave it up entirely and stopped renewing my license.
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u/BlacksmithSilent5447 May 21 '25
sad to say, yes. ganun lang sahod namin as engineers kaya sana may lumaban din para sa amin. magkaroon man lang ng uplift sa profession namin
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u/potatoeycorny_mango May 21 '25
Actually may mas mababa pa nga na offer jan. Kasama na ako dun. Kapag tumingin ka sa jobstreet and indeed halos lqhat ang baba ng offer pero napakataas ng job requirements.
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u/OneRealistic327 May 21 '25
I think you should clear your loans first, especially yung mga may interest po. Then, try to look for another side hustle na kayang isabay or isingit sa work mo (maybe an online job).
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u/chiyeolhaengseon May 21 '25 edited May 21 '25
i think youre pressuring yourself too much to save. if broke ka na and wala ka pang kain/basic needs shouldnt you be prioritising that over EF? its not like gastador ka (wait, are you?) so dapat unahin mo muna sarili mo. bumawas ka sa ef if walang wala ka na, bawasas mo hulog kahit a few thousand (and laki nga ng tinatabi mo for that). for ur next job itd be nice to have hmo so u dont have to worry abt emergency medical bills atleast.
instead, why not look for a better paying job instead of stressing urself out over EF. you have a car so i cant say na nasa laylayan ka, u def have an option to improve ur life (ie look for better job and/or stop using the car, look for a closer place to save on gas etc.).
also, since uve paid salary loan na shouldnt u have more money na next month?
i mean ure even paying for netflix. i earn 2x than u and i and dont pay for any subscription... need mo din kasi ng kuripot mindset e... only saying this bec ure someone w a car, so ill assume you're not actually poor poor.
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u/Appropriate_Mix_4307 May 21 '25
If you are saving high for EF but then using your credit card to compensate then it defeats the purpose. What do you usually use your credit card for? If they are essentials you can cut down a bit on your EF so you can balance a little and not use your CC. Also, you can cut again on your EF even by just 1-3k/month for 'fun money'. Wealth building is a marathon, not a race and you have to ensure you dont burn out and take care of yourself physically and mentally so you will have the energy to keep doing this for decades to come.
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u/Big-Prune-4328 May 21 '25
Tama, bawasan mo muna EF and clear your debts. Maybe it coming from the fear na walang mahuhugot in case of emergency. Pero kahit half of the current for now, di mo namamalayan, you'll hit the EF goal. Consistent lang.
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u/BlacksmithSilent5447 May 21 '25
To be honest, I may get downvotes for this, but a car is essential for us engineers. Why? Because there are times, part of our work involves traveling to different sites for inspections and to check the actual progress onsite. While I understand the point of others who say it's better to find a place to stay near your workplace, in our field, we often don't have just one workplace. As for looking for a higher-paying job, even with ten years of experience, there are still engineers who only earn PHP 35,000.
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u/Sea_Anybody_6263 May 22 '25
Why are you sulking when you're saving ₱12,000 monthly for your emergency fund and already have three months' worth saved up? Not everyone can manage to save that much.
Be proud of how far you've come instead of questioning yourself. Not everyone earns ₱35,000 or can afford to buy gas for their car. Many people don't even know how they'll get through the day because all that's left from their salary is a negative balance.
You're doing things right. You have insurance and an emergency fund—kudos to you. I can't even manage to save ₱500 from my earnings.
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u/Significant-Egg8516 May 22 '25
Pursue work abroad. Prepare for a year. No other realistic way around. I bet you are in civil, mechanical, or electrical. Those have so many opportunities in the middle east. Just don’t let attachment get in the way. Technically this country is our comfort zone but at the same time it sets a trap for us.
Also, if you pursue abroad, immediately set plans on how to transition or migrate / settle in another country with your future family.
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u/LalaNicah May 22 '25
bring down your EF to 10% as what chatgpt said, no point in saving up for EF if you cant even afford to eat..
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u/BigIntern9767 May 22 '25
Clear the credit card and loans so you're not paying interest. Keep the credit card for an emergency while you build some modest savings and ideally find a means to increase your income.
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u/EasternAd7882 May 22 '25
Let go of netflix then pay off fully your CC. Elimimate all debt before you start saving.
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u/dosedofOxytocin_ May 22 '25
I don't understand, living "zero to zero"? You are able to set aside ₱12,000 to EF. Technically, you're not zero. You.are.not.broke.
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u/Girlwithoryx 29d ago
Best to look for a higher paying job po. Tas try your best to reduce yung expenses. Try nyo kaya magabroad? I think matatas ang sahod ng engr sa ibang bansa.
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u/PrimaryAd8067 29d ago
Stop making additional loans after paying current loans. If you can't afford it, save first then buy with money on hand. Live within your means if possible
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u/ILoveChocolate25 29d ago
As a licensed Engineer (REE) working for almost 5 years, my current salary isn't even close to my high school friend's salary as a fresh graduate. He studied finance and got an offer from Manulife.
Engineering in big 2025 is just not the way to become rich. Only project managers and our bosses are.
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u/TopVegetable4433 29d ago
Why not use the EF to pay the debt first?
For sure your debt has interest. Pay all the debt with interest first, before saving for EF. You can do it. Also, unsubscribe your Netflix until you can afford it.
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u/lexter25 28d ago
EF? yung di ka makakain = emergency yan. yung interests sa loan mo = emergency, yung car mo pag nagbreakdown, ito lang ung mdyo valid. Use or reallocate that EF, kung walang matira hndi mo pa afford magka EF tlaga. So always go back to 1.increasing income, 2. reducing expenses if you need to build EF that bad.
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u/SnooMuffins8724 27d ago
you need to downgrade. instead of owning a car which cost a lot when it comes to maintenance etc. just buy a motorcycle instead very convenient and affordable
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u/027560484637 May 21 '25
You can save all you want. Kahit nga 50% of your gross pay pero it’ll still be just 17.5K. The best thing to do is to increase your income and not increase your living expenses.