Wednesday, 3 September 2014

What to Do When You Realized: “I’ve Got No Savings”

A friend whom I have not spoken to for a long time recently sent me a private message on Facebook. She is working in Dubai and is earning quite well.

When I first saw her message I didn’t understand it immediately. Maybe I just didn’t expect that she would be the type of person who would open up on money matters with me. But after I clarify, it is indeed real that she was asking me that question.

The conversation went on like this:

Tuesday, 2 September 2014

The Epitome of Long-Term Investing

Would you believe that Warren Buffett accumulated almost 95% of his wealth after he reached his 60th birthday?

Out of Buffett’s $63.3 billion net worth, $60 billion was made after his 60th birthday – talk about long-term investing!

Friday, 29 August 2014

How My Friend Managed to Find P10,000 EXCESS Money from Her Salary

Are you sure you don't have anything left to save or invest? Think again... and again... and again. 

Because just when you thought all your money are used wisely, writing your monthly expenses down will reveal an ugly and oftentimes, sad truth.

5 Specific Ways to Pay off your Credit Card Debts

The first step towards financial freedom is to make sure you are free of bad debts. When you have bad debts, compounding interest works strongly against you because the interest charged on the principal amount of your credit card debt rolls over every single month it is not paid in full.

We all know there are two types of debt: good and bad.

Wednesday, 28 May 2014

How Real is Inflation

I used to ignore the dangers of inflation on our money, simply because I've got zero savings that time. "Wala naman akong perang mag-shshrink so nothing to worry about". But when you have finally developed the habit of saving small chunks of your money every month, you begin to think of how to best preserve your hard-earned money and make it grow eventually. You suddenly want to protect it from silentkillers like inflation which diminishes the value of your peso over time.

Imagine if you are saving up for you child's tuition fee in college or a dream house. It would be devastating to find out after saving for 10 years, your money can no longer buy the dream house you were aiming for or afford the tuition fee of the university that you're child was dreaming of.

Monday, 26 May 2014

A Day with our Financial Mentor and Friend - Bro. Pao Antonio

We just came back from our two-week holiday in the Philippines and we were very happy to have accomplished so many things during our stay there.

One particular activity which left a significant impact in our lives as a couple was meeting Bro. Pao Antonio in person. He was the financial advisor that we contacted for AXA Life Philippines. If you read my previous article before this, I was actively looking for the best insurance program for me and my husband so we can get them in time of our Pinas vacation in May. Luckily, I came across Bro. Pao's article in the Truly Rich Club's Wealth Strategies, explaining in full detail the importance of accidental and death benefit and critical illness riders for an insurance policy. That was just the exact information I was looking for on the web. I contacted him and asked for quotations on term insurance and whole life insurance policies for comparison, just like what I did to the other insurance company representatives that I got in touched with.

Tuesday, 11 February 2014

Why Term Insurance is Just Not for Me

I strongly believe in the advocacy of our financial gurus to apply BTID (Buy Term, Invest the Difference) in their financial planning. In fact, in one of my earlier blogpost in 2012 I highly recommended investors to buy term insurance only because that was what I believe in then. However, things have changed in my life (as expected, there’s nothing permanent in this world). It is not wrong but it is not for me either (for now). Let me tell you why.

I think term insurance is highly suitable for individuals who want to get the maximum protection for a certain period of time, but with a limited budget. I believe it is true that you will earn more when you apply the BTID method.  However, I also believe that your decision should be based on your topmost priorities and real reasons why you are getting insurance in the first place.