5 ‘Pinoy’ money habits to break

[miLes]

Mas madami ako kakilala na mayaman na barat. Yung mga average lang, sila pa yung mga galante. Living their life to the fullest. Hindi mo madadala ang pera sa hukay.


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kuripot ako, if im able to save 50 or even 20 pesos gagawin ko. if i have to walk 200m to save atm fee gagawin ko but one thing na hindi ako kuripot is if it concerns buying something for my family. for me, any money saved is money available for investing.

one thing we should adapt is always buying the best value.

[dr. d]

kuripot ako, if im able to save 50 or even 20 pesos gagawin ko. if i have to walk 200m to save atm fee gagawin ko but one thing na hindi ako kuripot is if it concerns buying something for my family. for me, any money saved is money available for investing.

one thing we should adapt is always buying the best value.

i used to walk double the distance, to save a few cents... until i did some computations. it cost me more to buy a new pair of shoes because i wore them out more, than the savings i got walking the extra distance.

[jut703]

^

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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[Retz]

i used to walk double the distance, to save a few cents... until i did some computations. it cost me more to buy a new pair of shoes because i wore them out more, than the savings i got walking the extra distance.

Maybe your new pair of shoes is expensive sir that's why no savings.


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[LiveLoveInvest]

Post denied. New posts are limited by number of URLs it may contain and checked if it doesn't contain forbidden words.

What does this mean????

[Retz]

^

try to log out and log in again sir and see if it works btw, what are you trying to post sir?

[miLes]

i used to walk double the distance, to save a few cents... until i did some computations. it cost me more to buy a new pair of shoes because i wore them out more, than the savings i got walking the extra distance.

sir, kung cents lang masasave ko hindi nalang ako maglalakad hehe locally made shoes will last about 1-1.5 years, sneakers or rubber shoes will last at least 3 years, you must have made alot of walking on hard ground

negligible naman ata ang wear sa shoes if you walk about 200m, ibang usapan if 200m dash gagawin mo hehe

[LiveLoveInvest]

In long term investing time is really the key and not timing.

I just recently joined an investment firm that specialize on mutual funds, just last week there was this man around 40s who invested 35,000 on an equity mutual fund last 1998. He totally forgot about his investment up until last week. When he requested for an updated SOA, he was so surprised to see that his 35k turned into 398,000 in a span of 16 years. He kept saying what if he invested more. If he would have invested more im quite sure he would have immediately retired at that moment. :D

Then i came to the realization na if i start today since im in my early 20's i could be that person come 2034 except that i know i should invest more and regularly.

[_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]

In long term investing time is really the key and not timing.

I just recently joined an investment firm that specialize on mutual funds, just last week there was this man around 40s who invested 35,000 on an equity mutual fund last 1998. He totally forgot about his investment up until last week. When he requested for an updated SOA, he was so surprised to see that his 35k turned into 398,000 in a span of 16 years. He kept saying what if he invested more. If he would have invested more im quite sure he would have immediately retired at that moment. :D

Then i came to the realization na if i start today since im in my early 20's i could be that person come 2034 except that i know i should invest more and regularly.

16.4% is pretty good for mutual funds ha. Magkano fees if he withdraws it all?


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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]

^

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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[_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]

^

Sa sunlife ba yan sir qwerty ?


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[LiveLoveInvest]

16.4% is pretty good for mutual funds ha. Magkano fees if he withdraws it all?


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Actually there are no fees since lampas na siya sa holding period. And he didnt redeem it, he opted to let it grow more pero nagdagdag siya ng 100k or 150k ata didnt heard properly e haha

If you look at mutual funds today especially equity funds, minsan umaabot pa ng 50% ang roi nila.
If anyone wants, i could send by email the comparison of all historical performances of top mutual fund companies from their ipo to present just to give people an idea how good MF are. :D

[Retz]

^

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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[jut703]

^

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.

[_Qwerty_]

i got mine sa PRULife UK

^

Sa sunlife ba yan sir qwerty ?


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