Financial planning for BPO Employees


Call center employees lead very hectic lives. The long sleepless nights, irregular shifts and improper eating and sleeping habits all come together to create long term health complications. Many agents find it difficult to work in these adverse conditions for the long term and either switch to a different profession or simply retire. The good news is that most call center employees get a good pay package and a little bit of financial planning can help them in the long run.

Certificates – Data suggests that the BPO working group belongs mostly to the unmarried class. The young employees often end up overspending and save little. Since you are aware of what you are going to draw at the end of every month, plan your expenditure and save the rest for investment in fixed or time deposits with maturity period of five years. If you can keep investing a minimal amount every month for as long as you work, you would have a fixed and good income after five years completed in every month.

 

Recurring Deposits – Just like the above, you could invest a regular sum in recurring deposit schemes every month and at the end of the year, you would have a sizeable sum in your hands. This sum could be either invested in fixed deposits or in savings certificates.

 

NSC – National Savings certificates can prove to be an excellent way of saving money and using the sum received once the long term investment matures. When you buy these certificates, you  have to wait for six years before the invested amount matures. You get an added 60% on that amount. When it matures, you can cash it out from the post offices to which you were entitled.  You can also cash it out from a government bank by following the correct procedures.



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