5 ‘Pinoy’ money habits to break

[jut703]

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May risk involve kasi ang investing sir kaya savings muna habang bata after school na ung investing.


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Thinking like this is why very few people invest.

For a kid who has a few thousand pesos worth of savings, putting it in a few blue chip stocks will see his money double in about a decade. Putting it in a bank would have it depreciate drastically over the same period, while spending it excessively on toys would have the money disappear instantly.

Even less worrisome is putting the money in a mutual fund. Less potential for growth but most likely to still beat inflation even if you choose a conservative approach (primarily bonds).

Imagine the power of compounding if a kid put 100 pesos per month as well as a fraction of his Christmas loot into investments from age 10. I wish my parents taught me that when I was a kid. Unfortunately, to this day they are still uneducated when it comes to investment vehicles.



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[Retz]

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I think the key here is about discipline on saving money as a kid of course kid could opt to invest in mutual funds, insurance, stocks etc. as he grows up and have already little knowledge about those things.

[jut703]

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I think the key here is about discipline on saving money as a kid of course kid could opt to invest in mutual funds, insurance, stocks etc. as he grows up and have already little knowledge about those things.

You'd be surprised at how small the percentage is of adults that are financially literate.

A lot of people still spend their lives thinking that putting their money in a bank is the best vehicle for long-term savings.



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[_Qwerty_]

Yes that is the key, invest while you are still young. Dont say na may savings account ka naman, believe me kahit anong gawin mong ipon ma wi withdraw at ma wiwithdraw mo din yan. Invest in something you cant easily withdraw.

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[jut703]

Yes that is the key, invest while you are still young. Dont say na may savings account ka naman, believe me kahit anong gawin mong ipon ma wi withdraw at ma wiwithdraw mo din yan. Invest in something you cant easily withdraw.

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More than the disadvantage of being too tempting to withdraw, the biggest reason why your long-term savings shouldnt be in a bank is because you'll lose out to inflation, even with a time deposit.

A Citisec account is easy to deposit and withdraw money from, but you wouldn't withdraw it knowing that leaving it there for a decade or so will lead to good returns.


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[Retz]

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0.5% percent na lang nga ang TD ngayon. No use saving your money in the bank. Invest in property instead or better yet mag negosyo para umikot ang pera.


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[jut703]

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0.5% percent na lang nga ang TD ngayon. No use saving your money in the bank. Invest in property instead or better yet mag negosyo para umikot ang pera.


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The best pa rin mag-negosyo, but that in itself is also VERY risky. I read somewhere that 90% of businesses fail.

Investing in stocks and mutual funds isn't exactly wealth-building. I see it more as preserving the value of your savings and adding a fair amount of gain to it.





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[TopEngine]

Why not attending the IMG seminar? libre naman ah. Then nasa sa iyo na kung gusto mo sa IMG or hanap ka na ng iba. I was enlightened by Financila Literacy seminar.
Being thrift or frugal is a good start. Then do the steps of investing. as they said " the best time to plant trees was 20 years ago, the next best time is NOW".

[LiveLoveInvest]

Why not attending the IMG seminar? libre naman ah. Then nasa sa iyo na kung gusto mo sa IMG or hanap ka na ng iba. I was enlightened by Financila Literacy seminar.
Being thrift or frugal is a good start. Then do the steps of investing. as they said " the best time to plant trees was 20 years ago, the next best time is NOW".

actually we are the direct partner of IMG when it comes to mutual funds, we conduct training and seminars to agents when it comes to mutual funds.

[TopEngine]

actually we are the direct partner of IMG when it comes to mutual funds, we conduct training and seminars to agents when it comes to mutual funds. .

I wonder why FAMI is no longer partner with IMG?

[LiveLoveInvest]

Being thrift or frugal is a good start. Then do the steps of investing. as they said " the best time to plant trees was 20 years ago, the next best time is NOW".

I work for the biggest mutual fund distributor today in the Philippine market and I
just want to share with you guys the historical performances of our Mutual Fund partners

dont get me wrong, I'm not promoting but I'm encouraging. I'm just sharing as to what other people have been missing out on mutual funds.

[Balikpinoy]

I work for the biggest mutual fund distributor today in the Philippine market and I
just want to share with you guys the historical performances of our Mutual Fund partners

dont get me wrong, I'm not promoting but I'm encouraging. I'm just sharing as to what other people have been missing out on mutual funds.

And how much of each 1000 peso invested would have gone to fees and load?

[miLes]

The best pa rin mag-negosyo, but that in itself is also VERY risky. I read somewhere that 90% of businesses fail.

Investing in stocks and mutual funds isn't exactly wealth-building. I see it more as preserving the value of your savings and adding a fair amount of gain to it.





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mahirap mag negosyo if you dont know the formula. marami kasi satin di rin born entrepreneurs, try mo lang umorder sa restaurant na wala sa menu nila pero yung simple lang gawin, sasabihin sayo 'sir, wala po kami niyan'

[jut703]

mahirap mag negosyo if you dont know the formula. marami kasi satin di rin born entrepreneurs, try mo lang umorder sa restaurant na wala sa menu nila pero yung simple lang gawin, sasabihin sayo 'sir, wala po kami niyan'

That's true. But I believe it's learnable. I came from a family with absolutely no business background - lahat corporate. But I'm interested to learn, and my current job right now makes me a pseudo-businessman as I am in charge of the business of the company for a whole region. The workload requires you to learn marketing, pricing, cost management, relationship management, and so on. Working with business owners allows me to see their mindset, and little by little i try to learn.

I have a very long way to go though, but I believe that if you want it enough, you can learn it.

Running successful businesses is the best way to amass wealth, but it's definitely not an easy task for many.


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[LiveLoveInvest]

mahirap mag negosyo if you dont know the formula. marami kasi satin di rin born entrepreneurs, try mo lang umorder sa restaurant na wala sa menu nila pero yung simple lang gawin, sasabihin sayo 'sir, wala po kami niyan'

yup, not everybody is blessed with talents na pang businessman :D although Xempre yakang yaka siyang matututunan

[SpiritRalf]

Hindi mahirap mag Business, its lack of love yung bumibigay sa kanyang negosyo.

"Begin to face the Fear Today without giving Up"

[_Qwerty_]

Kung may family na, invest in a life insurance that earns dividends thru mutual funds investment, secure na family mi pag may nangyari sa yo, then if after 10 yrs or more u can withdraw it for ur kid's college fund, parang 3 way investment, insurance, savings and if needed pwede educational fund in the future.

Ganyan yung kinuha ko nung nag start pa lang ako mag work, 180T total cash out payable in 10 yrs, tapos insured ako 1M, now around 400T na sya pag ni withdraw ko, di kayang kitain sa banko yun kahit TD pa

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[Retz]

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Sa sunlife ba yan sir qwerty ?


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[_Qwerty_]

i got mine sa PRULife UK

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Sa sunlife ba yan sir qwerty ?


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[Retz]

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Cge sir il pm you basahin ko bukas ung mga historical data ng companies na binabangit total wala naman akong masyado gagawin tom.


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