5 ‘Pinoy’ money habits to break

**miLes** · March 19th, 2014 05:16 PM

Originally Posted by wezz_zzew

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** · March 19th, 2014 07:23 PM

Originally Posted by miLes

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** · March 19th, 2014 08:05 PM

Originally Posted by Retz

^

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** · March 19th, 2014 08:51 PM

Originally Posted by dr. d

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** · March 19th, 2014 11:10 PM

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** · March 20th, 2014 10:07 AM

^

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

**miLes** · March 20th, 2014 06:14 PM

Originally Posted by dr. d

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** · March 20th, 2014 09:13 PM

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_** · March 20th, 2014 09:57 PM

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** · March 20th, 2014 09:59 PM

Originally Posted by 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.

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

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