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What to do with that higher take-home pay

04:32 PM January 15, 2018

Unless you’ve been living under a rock the past couple of months, you’d probably be familiar with the new TRAIN law that took effect last January 1, 2018.

Have you had the chance to check out your most recent sueldo yet? If you haven’t, you can expect a fatter paycheck this time around.

Before, a Php25,000 salary would’ve netted Php20,064.55 after taxes and contributions; now, it’s Php23,346.63. (If you want to see the effect of TRAIN on your take home pay, just “ask” the DOF’s shiny new tax calculator.)

Now that you have a bigger disposable income than before, here are some ideas on what you can do with that hard-earned moolah:

Make your hard-earned money earn even harder.

We know, saving/investing isn’t the sexiest thing in the world. Still, since you already worked hard for your money, why not make it work even harder?

If you’ve always dreamed of setting up your own business, you can save those extra pesos as future capital. You can also look into stocks, mutual funds and similar investments, and watch your cash multiply. Bitcoin works too — but only if you’re extra careful and knowledgeable about cryptocurrencies!

Investing in your future would eventually result in more money you can enjoy. But hey, that doesn’t mean you can’t enjoy your higher take home pay now.

Be spoiler free.

With the additional cash on hand, you don’t have to settle for “Netflix and Chill” and wait for the latest superhero movie on cable. Now, you can enjoy the latest (Marvel) movie spoiler free. (Ha! Take that, evil-spoiler Facebook friends!)

No more passing up on time with friends.

With everything that’s going on in your life, and all the things you need to do, finding time for yourself is hard, and finding time for friends is even harder. But do you know what’s hardest? Having to pass up on that BNO because you can’t find… the money. Hopefully, your higher take home pay now will help alleviate the #FOMO you’ve been having with your friends.

Next time the boys decide to have a fun night together, don’t say pass… say yass! And make sure to bring proper alcohol you can enjoy with the squad. HotShot’s anyone? If the guys are looking for something chill, bring out that bottle of Empi Light and never settle for anything less. Because, hey, life is too short for cheap alcohol.

Treat yourself and your S.O. to a proper date.

Nothing feels more satisfying than sharing your (#blessed) higher take home pay to – probably – the most important person in your life right now. Instead of the usual fast food date, why not try that hole-in-the-wall/hipster restaurant you’ve both wanted to try last year for a change?

Or if dining out isn’t both your thing, treat your S.O. to a proper home cooked meal. Show off your kitchen skills, whip out those grillers and wow her with that mouth-watering steak! – Or whatever tickles both your fancy. (ProTip: don’t pair those steaks with cheap alcohol. #BeBetter and serve her with a glass of Smirnoff Mule. – you’ll thank us later.)

Drink up new experiences.

There’s a saying that you should “buy experiences, not things” Your higher take home pay means you also have more opportunities to travel, meet new people and experience new things. Research even says that people who choose experience over material things are happier.

So when your higher 13th month pay arrives later this year, start checking off your bucket list ASAP. Go food tripping in Hong Kong, spend the winter in Seoul, or try out Japan’s wallet-friendly, gourmet-quality street food. For more deets, ask your friendly budget airline — or better yet, your globetrotting buddies!

With a higher take-home pay, life just got a bit better and brighter. Reward Every Day with a bottle (or two) of Emperador Brandy. Parang may bonus every pay day!

INQUIRER.net/JM

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