SHARE YOUR SECRETS in SAVINGS

[superidol]

Borrowing to invest is leveraging... a bad financial decision, unless you have enough liquidity and capital to absorb the risk. Unless you can borrow at almost 0% interest (i.e., like big banks), please don't do it.

You can borrow if you are skilled enough to start your own business though. Unlike stocks or forex, a business is something that you can control.

We'll that's my strategy in saving. . soo far. . soo good saving from my salary is not enough even though I just buy my needs, lower our electricity and water consumption . .

[cebu.opportunities]

Mind setting, discipline and taking it in action.

pero saving is not enough. You must let it grow by finding ways on how to.

[M.A.D.]

When trying to solve every day problems, in this case like finances do not use the conventional approach. Most people argue that logic can help solve your problems, however it can only do so much. Logic can identify the problem, but it can never solve it. Instead, use logic to find and pinpoint the problem and be creative once you isolate it and you will come up with a solution.

Einstein said "We cannot solve our problems with the same thinking we used when we created them.". He does have a point.

If you really want a working example of what I am talking about, watch the movie "a beautiful mind". You will see how John Nash looks at things differently compared to the norm.

Creativity, not logic is the future.

Lesson: I burned my account in forex many times over amount to a loss of $2500 and I was only getting 18k per month in salaries but this did not stop me. I chose not to spend on anything but food, and transportation. I don't get out too much and I don't involve myself with fads. I read things that interest me like finance, economics, geopolitics, technology and foreign languages. This helps me prepare myself. Right now after so many tests and losses I was able to increase my account to 300% in 9 days with no margin call at all.

[istoryamember]

just save. just do it.

[medwarc]

up ta ni nga thread....

[al1974]

i am currently having a "piggy" bank... but this one is really a serious piggy bank... I am using a 5gallon purified water container. I put in any amount from P5 to P10 to assorted bills.. My wifey is laughing at me and I just said if this "bank" will be worth a lot when I'll break it, don't ask me for a good vacation.. LOL

[dhemps]

savers are "losers" as per Kiosaki.. but even before i heard it from him, I realized it already. Make your money work for you, be financially literate. pag google unsay mga investments pwede nimo ibutang imo kwarta while you are working. Better if mag start ka business na you think it will be a hit. If not then better keep the money in "investment" mode, not "savings" mode.

ngano kaha ang banks 0.5% ra ang mahatag na interest sa clients? Well, take a look at big banks!
1. How many branches do they have (Cebu Alone) e.g. Metrobank?
2. How much operating expense do you think they incur monthly?
3. Do you think it is cheap to maintain an ATM Machine outside their premises? like malls, shops. Armored Cars are expensive, Internet line are expensive (not just one connection sometimes), Power Supply are expensive, Machine itself is expensive to maintain. They pay Rents to malls and shops (where they put their machine), they pay the Networks like Bancnet, Megalink, etc etc each transaction you perform. They pay VECO. hahaha
4. IT Connectivity is very expensive
5. IT Security is also expensive.
6. Managers, tellers, etc have salaries and bonuses regardless if their branch have many clients or not
7. Bank Loans are just 5% (cars), 7% (house loan), 10% personal.

They cannot give you much (though they earn that much really)

Unlike Financial Institutions, Prulife, Philam, Sulife, etc etc. They have only few brances in Cebu maybe 2 at most, 90% employees are commission based. No Client = No Salary (Commission).

therefore they can give you much return on your money. that is one of so many ways where to "park" your money not banks, go and talk to them. Use banks for transnational purposes, emergency money, etc.

[dhemps]

You can also invest in other stuff like commodities: Crude oil, etc etc.
You can invest in Gold! (google it)
Try the riskier part BITCOINS - google it. you will be amazed regarding the story of BITCOINS.

[jshrader]

i think before you start investing you should learn to save first... unsaon intawn nimog invest if wala kay kwarta pang invest? hehe... ako kay nag build pa ko sa akong nest egg.. akong plan is to save up more than 3 months worth of salary, then once makasave nako... i'll start investing, im considering mutual funds or peso cost averaging, since wala man kaau koy time para mag monitor sa akong investments regularly... OTT nako hehe...

Anyways, I automatically deduct my salary with my savings para di na nako siya huna-hunaon... nagpasalamat jud ko na naa nay online banking kay saun na lang kaau magtransfer gikan sa akong payroll account padung sa akong savings account.. (y)

[SuperStar]

subscribing.........................