It's always a good idea to invest your money wisely.
Being in the entertainment business, GMA-7 actor Benjamin Alves admits that having a showbiz career isn't really that stable, and having a business as a back-up plan helps him secure his future.
In an exclusive interview with PEP.ph (Philippine Entertainment Portal), Ben further explained, "For one, we don't have a retirement plan. You have to look for those yourself.
"Retirement plan is buying land, businesses. The work that we do is... yung analogy ko dun, yeah you can make a million a day.
"But if you have to work every day, then you're no different from the person making a hundred pesos every day."
The 29-year-old Kapuso actor noted that it doesn't really matter how much you earn as long as you save part of it for the future.
He told PEP.ph, "If you're making a million a day but your overhead is one million, then the other person who's making over a hundred, his overhead is only PHP50, then that person is richer than you because the person gets to save, whereas you work from paycheck to paycheck.
"If you're spending as much as you earned, then you're no different from the person working from paycheck to paycheck."
Ben added that his businesses keep him busy every time he doesn't have any entertainment-related work.
He said, "I wish I could just act every day, but that's not the case.
"Our business here is very small compared to like the States. And it gives you a breather also... I think."
PEP.ph caught up with Ben after his shoot for PEP Live at Summit Media Office in Mandaluyong City on Tuesday, June 26.
BUSINESS VENTURES. Currently, Ben has two food businesses: a coffee shop called Books and Borders and an ice cream shop called Phat Boys.
In 2015, Ben teamed up with actress-singer Karylle, and entrepreneurs Nancy Go and ;Kristine Simisim for the coffee shop which now has three branches.
The main branch can be found in Tomas Morato Avenue, Quezon City, while the other two are located at Eastwood Mall and Manhattan Park View in Cubao.
"The food one, I was offered it," Ben recalled.
"I guess because it was book-themed... and I worked with the people before...It's been doing good."
Ben reveals that the he still gets surprised every time a branch opens.
However, he admitted, "I don't know which branches but the initial ones... Every time we have a ribbon cutting, I'm like, 'Oh, I'm part of this one.'"
The former Pinulot Ka Lang sa Lupa actor also gives his business partners the credit when asked about the growth of the business.
He said, "Sina Miss Nancy, they're very good at their job, e.
"So, I don't want to like, 'Oh, I feel like I should be like this or like that.'
"They have had other businesses that have grown so I'm very grateful for it.
"It gives me an idea how to make things grow and how to know the target market especially in the area."
When asked how much he saved for the business, he answered, "Not much because the money they were gonna pay me, I put it into this...
"Sometimes you can get equity. It's always smart to get equity because you're not putting any money."
One business advice Ben would like to share is to not spend the profit of your business on luxury.
He explained, "When you get the profit, the smart thing is to invest it back into the business.
"You don't go, 'Ah, I'm gonna buy a car.' The car won't make any money.
"So since then... if it opens again, then your money grew."
He added, "I'll take the business over a car any day.
"If you give me a Lamborghini or you give me the same amount for business, I'll take the business any day.
"Even if that business doesn't make any money, even if I lose all the money in that business, there's always a chance for that to grow.
"The car is guaranteed not to grow."
NEW BUSINESS. Although Ben admits that he's not that hands-on with Books and Borders cafe, the Kapuso talent plans to open up a business that's closer to his heart.
He told PEP.ph, "They're [Nancy and Kristine] doing a fantastic job there. I wanna go somewhere... I know I'm not a barista.
"I know this world of boxing and fitness so I can be more hands-on."
Ben has yet to finalize his business plan, but confirms that he will be having several business partners for this passion project of his.
"I really want to open up a boxing gym but we're still thinking about...
"Would it be a traditional boxing gym? Or is it like a boxing class or group boxing? It would be so much nice...
"There's two tracks [of boxers], e—there's the people that want to box to become a fighter, and then there's people who want to box to learn self-defense.
"There's even another track, those who box to sweat.
"Most of the people kinda fall into 'box to sweat.'"
He added, "It's such a nice entry or gateway to become a boxer. You're throwing punches and you want to get better at it."
The Kapag Nahati ang Puso star is already looking for potential locations for their boxing gym where people can enjoy the sport without thinking too much about its technical side.
"I think it's always nice that in anything you do, you always have to find the passion for it first.
"If you really love it, then you study on it."