The Day After (part 1)

Within days after payday, a lot of employees are faced with the dreaded question – where did their salary go? Quite often, employees feel that right after their wages arrive, it gets spent without them being able to hold or enjoy it. With that in mind, let us then try to find just exactly where the money goes.

Credit cards

The very first place anyone should look for their money is in their credit card statements. Ideally, each person should only have two credit cards–one Mastercard and one Visa. Anything beyond that is unnecessary.

Read the Fine Print: Annual Fees and Interest Rates

Most of the basic credit cards (by basic, I mean those entry-level credit cards that are offered in most shopping centers) will waive the first year’s annual fee as an incentive for an individual to join. On the succeeding years, those fees will be applied. Now, most of them will charge an annual fee of P1,200 upwards. If you have four cards, that’s a total of at least P4,800 yearly expense which you can use for investing or other necessary expenses.

Furthermore, having many credit cards [Read more…]

Fear Factor

A common sentiment I hear from people these days is that though they would very much like to invest, they are afraid to do so. They are afraid that if they invest in things like stocks, mutual funds, or pre-need plans, they will lose their money. So, they settle with the low interest rate the bank has to offer. At least it’s safe and familiar, they argue. But, will it ensure a prosperous life? Is it really safe just because it’s familiar? Let’s learn from a journey to Enchanted Kingdom.

Road Trip to EK

Let’s say you live in FARview (Fairview is in Quezon City) and would like to go to Enchanted Kingdom for a day of fun and relaxation. Ideally [Read more…]

Be a Partner with Business Tycoons

be a partner with business tycoons

When you go around our country, you’ll see proof of the Filipino dream of owning a business. In every corner, you’ll most likely see a sari-sari store, a food cart, or an internet shop. Year after year, you cannot stop entrepinoys from putting up a business of their own. Not all of us can afford to put up our own business or even have the time to manage it. So, how can an average Filipino go into business with only P5000?

Did you know, with that amount, you can already be part owner of every SM mall with Henry Sy [Read more…]

How to Use Time to Make Millions

How to use time to make millions

Time to make millions

Start early!

When it comes to saving money and investing for your future, it’s never too early to start. Every payday, most of us are faced with the dilemma whether to start saving today or put it off until next month.

Here’s a story of a young man who knew that he could earn more for his future by starting to save earlier.

At age 22, Ping took the first steps in making his money grow. Every month, he saved P2,000 of his monthly income. Then he placed it in a good and stable investment that gave 10% compounded interest yearly. He did it for 10 years until he was unable to add more to his investment and forgot about it.

On the other hand, his friend Pong took his sweet time before investing. He waited until the age of 40 when he had money to spare. He followed the same steps but he doubled the amount [Read more…]