Importance & Basic Guidelines In Saving & Investing
Before I start to discuss about my experience & learning in Saving and Investing, I just want to clarify that all I've written here is based on my personal experience, understanding & other experiences who shared their great knowledge about this topic even I'm 19 years old I just want to let you know all people must be aware about financial security awareness because this information is important and urgent.
Below are the basic personal changes & challenges that you need to do for a preparation of a great push into your lives.
1. Time
As of now here in Philippines majority of people are wasting lots of time in recreational activities & entertainment. If you are one of the people who likes and waste time in entertainment & recreational activities. It's been so hard for you to adjust, but then it's your own will and decision if you want to secure your future or not. In saving & investing TIME is important many people says "I don't need that quite, so much right now, I'm so young I can do save when I have big salary or income" some says "I don't want to save because what if I will die tomorrow, I can't enjoy all my money" But then the best ally you'll have in saving and investing is "
TIME" in partnered with "
COMPOUND INTEREST" as
Albert Einstein says "T
he best invention of people is Compound Interest" Because the time you start to save & invest is the time your money starts to compound because of the interest rate, simply says "When the time you start to invest and to save, is the time you let your money work for you" So while you have the enough time to prepare your future don't waste all your time to any types of leisure give time to save and invest. Because when you are too late. It's very hard for you to recover. As much as possible as what age you are right now, it's time to spare a little amount of money "Who knows that money will change your future, Yet your family's future"
2. Determination & Dedication
It's been so hard for you to regularly save and invest if you don't know the reason why you save. Just give a moment and relax try to face into the mirror and ask yourself "If this is the status of my life today, How do I survive and secure my family's future on the next day?" It's been so good that you'll dedicate what you do today into someone who is very important to you. When you dedicate your activities to someone who is special for you it's easy for you to stand on in the long run. You must be determined of what you have right now, If you know what is your status today and ask yourself "How do I change my financial status in my life, that I can secure and give what's best to my family" There are ways to consider, first you can ask an advise to the people who is into investing which gives you a great guide to start.
3. Discipline
To be honest there are lots of people who save & invest. But the problem is they don't give a lot of discipline of what they're doing as they don't know what is the reason why they save & invest. Then they lose the opportunity to secure & give the best for their family. Discipline will impart a great role in Saving and Investing as you must save regularly and consistently until you achieve financial security. It's been so hard at the first time, but just give more time to adjust and to make it as a hobby when that time comes "I swear everything you do is worth living, and must be follow by others".
4. Advise
There are lots of people are interested and want to secure their lives financially and give them guidance on how to achieve financial security, That's the reason why we're here "Financial Advisers" to give a great advise to the people who commit and want to change their lives. We advise them where to get started and what are the things you need to avoid and to be aware of because not everything in this world is good things. You must take care down all the things which might give you an obstacle to achieve financial security. That's the reason why we are here to guide you along the way.
"No more money to save? A reason? or an Excuse?"
I've heard this questions for how many times, most of Filipinos are not aware that when they got their income from any ventures like a job, business or any other ventures that generates income is at negative level. We are all guys aware that the prices of the commodities increases year after a year. But people doesn't give any importance of it, they just always ignoring it. Increasing the prices of all of the commodities on the other hand do a great role in saving and investing. When you save you must be aware where to save that's why I choose to be part of the principles I've shared is to ask for an advise to the people who are very knowledgeable about interest rates. When the prices increases you must know where to put your investment which gives you an income every year. When the prices increases around 4% every year you must invest your money into an investment vehicle that can earn around 6% or 8% a year. So that you are allowing your money working for you on positive level.
Here are some tips that allow you to save more:
1. Listing
You must select all the expenses that you are going to make a month or every 15 day as a majority of people here are working. It will give you a great guide where to cut down any parts of your expenses that might allow you to save more.
For example: You list all the things down like, food, transportation, education & entertainment. Many people has give more amount of money to spend in entertainment than to the basic needs. You must know what you need and what you want. In order for you to adjust.
2. Target
After you listed down all your expenses you must put a target when you apply it. If you could apply it in next month don't let your mind to change. Start it right away!
Next, as you save already some amount, then try to ask for an advise to the people whom you know which can give you a guide where to put your money that can earn a great interest and yet "IT"S MUST BE SECURE".
3. Time Table
When you are started to invest you must gather a background check on how much your money earn every year and create a target amount in the end of a year. When you've the target amount then you must save every day to achieve your target in the end of the year.
I know there are lots of you who are interested to save & invest, but doesn't know where to start. I hope I can help you along the way. Please kindly pm me or contact me via my number 09425834469 if you need my help or need, any guidelines and tips. Because I'm so proud of our mission and vision and it is to "SHARE TO THE PEOPLE, THE IMPORTANCE OF FINANCIAL SECURITY AWARENESS"
Thank You,
Happy Posting Guys
Importance & Basic Guidelines in Saving & Investing
Originally Posted by leominojr
@Nowayl I hope it helps you
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