What I used my 13th Month Pay for

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Philippines
January 6, 2013 9:02pm CST
One of the things Filipino workers are entitled to as per Labor Code of the Philippines is their 13th month pay. This is equivalent to their gross monthly pay. This is required and is usually given during the month of December. Christmas bonus is different as this is not required by law but may be given by employers to their employees at their discretion. Ever since I started working, I always make sure that my 13th month pay goes to something fruitful or something important. This time, I used my 13th month pay to invest in the stock market. I am very happy about it. Well, it's not the first time I invest in the stock market and it is not the first time I used my 13th month pay for that purpose but then again, I am happy and proud that I spent my hard earned money for something relevant.
2 people like this
12 responses
@julyteen (13265)
• Davao, Philippines
7 Jan 13
When I was still working here in the Philippines, I always received my 13th month twice a year. My company give the half of the 13th month on the middle of the year to help the employees to pay their childrens tuition fees and the 2 half be given during Christmas period to help us buy foods in preparation on our Noche Buena. In excess of my expenses I used it to buy some of my favorite brand of clothings
1 person likes this
• Philippines
8 Jan 13
Well, you've worked hard for it so you might as well use it for something that will make you happy.
@julyteen (13265)
• Davao, Philippines
8 Jan 13
Yes I work hard to sustain my family needs and also to my wants. Now, no longer receive 13th month pay, the company I am connected which is located in Middle East not covered to our labor laws
@aseretdd (13712)
• Philippines
7 Jan 13
Congratulations... that is a smart way of investing your money... just saw in the news that we should invest our extra money on the stock market... i would if i have extra to spare... i did not get any 13th month this year because i am unemployed... but my husband did... but we used half of it was used to pay for our van to get fixed... Well, next year when i am already working... i plan to use my 13th month into something more productive... like put it in time deposit or like you... but some stocks...
1 person likes this
• Philippines
8 Jan 13
I used to put my extra funds in bank. However, interest rates are not that good now as they are very low, so I only keep in the bank the amount that I think I would be needing for emergency or any urgent need. Good luck aseretdd!
@Angelpink (4023)
• Philippines
7 Jan 13
You are just so lucky for you can keep and decide what to do with your Christmas bonus . Unlike to others where in though they wanted very much to invest it but they can't for they some compulsions and responsibilities at home which need to be addressed first. What you did , is so impressive at your age most used bonus for vacation or hanging with friends , but you planned it well ! Keep being goal oriented , i can see a brighter future for you !
1 person likes this
• Philippines
8 Jan 13
Hi Angelpink! I think I am already past the stage of using my money for not-so-important things and impulsive purchases. Sometimes though, I spend a little amount of money for traveling because it is something I enjoy. But I am a budget traveler of course. Thanks!
• China
7 Jan 13
I will use the 13th month salary as the sepcial fees for the travelling next year. because i like travelling so much.
1 person likes this
• Philippines
8 Jan 13
That's nice. I love traveling too!
• Philippines
7 Jan 13
Hi dolce_vita78, it's good to know that there are people like you who is smart enough to invest the money they have worked hard for. I have not tried investing in stock market but most of my 13th month pay goes to my own business. I am interested in investing at stock market and I am looking forward to doing it one of these days. Thank you for sharing this discussion.
1 person likes this
• Philippines
8 Jan 13
You should consider investing soon as our economy is very conducive for such at the moment. What business are you into?
@Iriene88 (5352)
• Malaysia
7 Jan 13
Glad to know that it is written in your country Labor Code for 13th month pay. In Malaysia there is no such Labor Law. How I wish they have. Yes , it is good that you invest the money so that it will generate more in dividend and share price appreciation. So, do you invest in one particular share/stock or a few counters? Last week I took a portion of my salary to buy Kuok Brothers's plantation company. Since it is quite pricey, I just bought 120 shares only.
• Philippines
8 Jan 13
I invest in several companies to make sure my investment earns and even if some do not at a particular time the earnings the other stocks get offset the losses. Well, if Kuok Brothers shares are really doing well, that would justify the price you pay for each share. Good luck!
• United States
7 Jan 13
The way I hear you guys get paid it is nice to know they give you that extra check. I am not sure if the low wage was quoted to me correctly or not. but,I am still glad for you getting this.
1 person likes this
• Philippines
8 Jan 13
Thanks!
@toniganzon (38691)
• Philippines
7 Jan 13
The last time I experienced having a 13th month pay was three years ago. I spent it for my son's present. I usually give it as a present and never got to save any of my 13th month pay at all. It's a wise decision that you have invested yours.
1 person likes this
@ZoeJoy (1395)
• United States
7 Jan 13
Keep an eye on those stocks and I am sure, you will see that you are making solid financial decisions for your future. Also, a good way to invest for your future is buying silver or gold. Glad to hear you are making an investment for your future. Too many young people only think of 'today' and don't think that it is important to invest and save for their future. All the best to you.
• Philippines
8 Jan 13
Yes, buying silver and gold would be a good investment but quite pricey. I will consider that soon though. Yes, it is actually the future that I am more concerned about now. I think I am way past that age of getting excited to buy new gadgets and not-so-important things.
@RitterSport (2452)
• Germany
13 Jan 13
most of my extra pay in December went for Christmas, gifts and postage and such.... but its well invested too as it served to make others happy and make sure they know how important they are to me.......
8 Jan 13
That should be, I too use my 13th month pay with a purpose. I made a diversification of my pay. I set aside 10% for charity, and the remaining amount I divided for investment( mutual fund), house project, fare for trip,and gifts. Before, I used to buy dollars from my 13th month pay.
@ladynetz (968)
• Canada
7 Jan 13
that's really nice you guys get paid an extra month every year. I wish there was a law like that in my country too. It's nice you chose to invest yor money and I wish you Good Luck , I really hope this investment will make more money for you. However, I would have gone to pay some of my debts, as I was uneployed most of last year and I had to max all my credit cards, take loans, and so on. Anyhow, now I am working, I am very happy about it, and hopefully in few months I'll be able to pay off at least some of those credit cards. Looking forward to the moment they are all going to be paid. After that, I plan using only cash.