How did you reach your ~₱300,000/month or more income?

[jesusrwaldron]

@doomtree r/buhaydigital

 

[rednecklutheran157]

@hope088 i earn around $5.5k/mo sa work ko. then another $4.5k-5k passively sa app ko depende sa panahon.

 

[dietrich]

@rednecklutheran157 Do you mind sharing what kind of app you're running?

 

[rednecklutheran157]

@dietrich Can't sorry. Pero it's popular. I worked on it around 8 months alone.

 

[jimbohall]

@rednecklutheran157 If you don't mind, can you atleast reveal how many installs na yung app mo? and also what app category does it fall, is it on health&fitness, finance, game, education etc.?

 

[rednecklutheran157]

@jimbohall Well over a million combined sa ios and android. I guess it's under tools or utility

 

[gv991]

@hope088 Luck and hard work. I was lucky to come across an opportunity to be part of a pioneering team here in PH for a niche skill. I've been able to leverage what I learned from that company and job hop every 2-3 years to get to 300k++. That being said, it came with a lot of sacrifice to my personal time, often working 10+hours per day including weekends and holidays. I've only started to ease of the pedal recently since I'm already comfortable with what I'm earning.

 

[friendlyhendley]

@hope088 I grabbed every overtime, seminars, certifications and trainings when I started working. Then I went to graduate school, studied for my MS degree.

Shifted out of the government sector upon completion of said degree, went to the private sector with my resume.

 

[tamh]

@hope088 I'm in the same boat as some of the other redditors here, as of writing I'm 25M, and:

1. Got my Bachelor's in an American university
2. Entered into STEM OPT program and worked for a US company (first job out of college was already P300K/month)
3. 100% own & operate a tech co. in the US, its revenue is P500K/month and pays for lifestyle

How I did it? A lot of it is based on principle and bringing locus of control closer to you

1. Saving Philippine pesos doesn't make much financial sense in the long term. I convert my entire paycheck into crypto, use credit cards to pay my bills, then sell crypto into pesos to pay for bills
2. Leverage money in the form of debt and get really good at managing it. You never quite understand the words of Robert Kiyosaki or Grant Cardone unless you actually do it for yourself. I think that a lot of personal finance amongst Filipinos is centered around avoiding debt, but debt is a great tool if you can keep it under control (e.g. I was able to take out a 500K loan and pay it back within 6 months with a 50K origination fee to grow my business by 35%, which is more than the origination fee itself)
3. Realize that labor is a function of the market and that you are trading time for money. The gov't won't help you figure out how to live a good lifestyle, so you need to be able to leverage your time for money as well as other people's time for money. The job you go into is a decision that you take, alongside all other financial decisions such as being a breadwinner, for example. If expenses are cut down to the very minimum, then the only other option is to figure out how to make more money given the resources and skills that you already have

 

[goodman528]

@tamh hi! were you always based in the Philippines? if so, was all your work remote then?

 

[tamh]

@goodman528 No, I was not always based in the Philippines

 

[carol_c]

@hope088 BPO job. Right now, gross is 350k PHP monthly.

Started fresh grad at 9k basic as a call center agent. At that point feeling ko ang yaman yaman ko na. Lol. Got promoted 8 times in my career with only 2 companies - some retention offers I accepted plus jumping from 1 company to another and back bumped it up significantly.

Sr. Director 37F, now I am not looking for a promotion na. Okay na ako sa we can eat what we want, buy what we want, live comfortably and travel twice a year.

HOW? - a lot of hardwork, mental sharpness, resilience, openess to feedback/learning and sprinkles of luck. Lahat possible.

 

[amyy4594]

@hope088 Govt practice is taxed by about 33%. Percentage tax for govt practice, which is at 1%. No ida about technicalities but that's how my bookkeeper arranged it. Paying 100k or more in taxes monthly gives me goosebumps.

 

[johnib]

@hope088 With the TRAIN law, earning 300k monthly (3.2M) is probably the worse thing that could happen. You have to almost double your output to "recover" the income you pay for tax. For a lot, staying under 250k a month is ideal life-work balance

 

[spaceigniter]

@johnib Good news is that's not how tax brackets work. Going up a bracket doesn't mean your tax rate is increased for your entire pay. It just increases for the amount within the bracket.

 

[johnib]

@spaceigniter Yup. But how much would be the net income of someone annually earning 2.9M vs someone earning 3.2M ?

 

[spaceigniter]

@johnib Assuming that's only 12 months and not including 13th month pay

• Php2.9M: Php241,666.67 gross, Php171,951.94 net
• Php3.2M: Php266,666.67 gross, Php188,285.27 net

Higher taxes sure, but maybe you can help explain how getting an extra Php16K is the "worst thing that could happen"?