Budget woes
Monday, February 11, 2008
I mentioned awhile back that I need to be more careful in managing our finances because Mr. Frost's company (a subsidiary of the international company I recently moved to) decided to release employee salaries once a month.
Most companies in the Philippines have a twice-a-month salary release setup. Most common is on the 15th and the 30th of the month, but some do it on the 10th and the 25th of the month. But according to Mr. Frost's finance department, this once-a-month salary release arrangement has enabled big multinational companies to be more efficient and more productive. Sure.
Anyway, I've already drawn up a new budget sheet and adjusted it to this new cash flow. So far, we're on track and on top of everything. If we really stick to this budget until next payday, we won't need to find somebody to give us cash loans, which by the way, are very helpful for those who are in dire need of cash for unexpected situations and emergencies.
Anyway, our own finance department did a survey a couple of weeks ago, about adapting the once-a-month salary release setup. We were made to choose what setup we would be comfortable with, once-a-month or twice-a-month. I chose the latter because that would be more flexible for us, but unfortunately, those who voted for the once-a-month setup outnumbered us. There's no announcement yet as to when this will take effect, but I'm adjusting our budget sheet again, just in case.
Wish me luck, please. I want to overcome this financial struggle. :)
Most companies in the Philippines have a twice-a-month salary release setup. Most common is on the 15th and the 30th of the month, but some do it on the 10th and the 25th of the month. But according to Mr. Frost's finance department, this once-a-month salary release arrangement has enabled big multinational companies to be more efficient and more productive. Sure.
Anyway, I've already drawn up a new budget sheet and adjusted it to this new cash flow. So far, we're on track and on top of everything. If we really stick to this budget until next payday, we won't need to find somebody to give us cash loans, which by the way, are very helpful for those who are in dire need of cash for unexpected situations and emergencies.
Anyway, our own finance department did a survey a couple of weeks ago, about adapting the once-a-month salary release setup. We were made to choose what setup we would be comfortable with, once-a-month or twice-a-month. I chose the latter because that would be more flexible for us, but unfortunately, those who voted for the once-a-month setup outnumbered us. There's no announcement yet as to when this will take effect, but I'm adjusting our budget sheet again, just in case.
Wish me luck, please. I want to overcome this financial struggle. :)
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