Budgeting Hacks for Breadwinners with Low Income, Heavy Debt

Have you tried doing your usual grocery shopping with your usual weekly budget? Have you come to realize that as the weeks go by, you are buying less with your money? Do your budgeting hacks still work?

That, my Pinoy breadwinner friends, is the effect of INFLATION.

With inflation, your 500-peso today cannot buy as much as you did 1 or 2 years ago.

How to cope with inflation

If you are looking for ways how we can stop inflation, this article will not give you answers. Inflation is a result of many economic factors and fiscal policies of the government.

Even if you have low income, these budgeting hacks will work for you!

More than ever, what I can share with you as a way to cope with inflation is effective budgeting and financial planning.

If you learn to budget and plan well, you can survive and even thrive above the bad effects of inflation.

Budgeting Hacks for Low income, heavy debt

But, how about for those breadwinners who have low income? Those who are still heavy in debt?

Is budgeting and financial planning really possible for these breadwinners with low income, heavy debt?

An easy to follow guide for budgeting is the 50/30/20 rule. According to this rule, you allocate 50% of your income to your NEEDS, 30% for your WANTS and 20% for your SAVINGS.

NEEDS include all basic necessities that help you live safely and comfortably. This includes food, utilities, insurance, transportation, education, health care, rent or house amortization, communication, among others.

WANTS include the things you would spend for your hobbies, pleasure, reacreation, movies, eat outs, gadgets, Netflix subscription, etc.

SAVINGS include a portion of your income that you set aside to grow your emergency fund, investments, VUL policies, etc.

If you are a breadwinner with low income, this budgeting hack will still work for you. Actually, anyone can budget their income regardless of income level.

This budgeting hack makes more sense for breadwinners heavy in debt. A way to tweak this 50/30/20 rule is to allocate your 20% to paying your outstanding debts.

Financial planning for breadwinners

For most Pinoy breadwinners, a more detailed financial planning is needed.

After getting the right habit of budgeting, financial planning for the long term is the next best thing to do.

The right financial plan will answer for every need you will have as a breadwinner in all life stages. If you’re looking for a financial planner who can help you, send me an email at PinoyBreadwinners (pinoybreadwinners.coach@gmail.com).

3 Most Common Financial Mistakes Seniors Make

Retirement is the longest holiday that most seniors and retirees are looking forward during their lifetime. It is the time to reap the fruits of their hard work and labor.

However, this is not usually the case for most seniors. Why do many seniors end up broke and financially challenged during retirement? Why do many seniors remain dependent on social institutions like SSS? 

In this article, we will discuss thoroughly the 3 most common financial mistakes seniors make. In addition, we will also give practical tips on how to avoid these mistakes so seniors can enjoy happy retirement. 

Many seniors fail to prepare for retirement.  Photo source: Image by Gerd Altmann from Pixabay

Common Financial Mistakes

These are among the most common financial mistakes that people belonging to the age group of 60s, 70s, 80s and up make that pose a risk to their retirement and estate. 

Refusing to seek expert help

Although we can safely assume that people in the “seniors” generation are wiser through the years, still, many seniors fail in wisdom to seek expert help and advice when it comes to handling their money. Most seniors refuse to ask for trusted advice from reliable persons because they either have no one else to turn to but their family members, or sadly, their caretakers. 

Many people welcome seniority years only to discover that the fruits of their toil have been relinquished to another, mismanaged, or even sadly stolen. These unfortunate events can be prevented.

Seek expert advice for your major financial decisions. Photo source: Image by Free-Photos from Pixabay

A practical advice to resolve this common mistake: As young as you are now, make sure to seek expert advice about your money, investments and properties with financial planners. Seek expert help of your trusted accountant on how to save on taxes. Consult an attorney to determine a legal and cost-efficient way to manage and dispose of your properties in the later years to come. 

Too much fear investing

Another common financial mistake of most seniors is being succumbed to too much fear in investing that they tend to outlive their retirement money. If the goal is to have enough retirement money when you reach the 60s, then the focus of your investment strategy must be to get as much returns as possible during your earning years. Most seniors focus too much in avoiding loss of money that they do not remember the risks involved like inflation, credit, and unplanned major financial outflows. 

How much retirement money is enough? This question requires careful planning with a trusted financial planner to answer. But basically, if you expect to live long, then you must plan long. Strategically invest your money so it can outlive you. In this way, you can enjoy as much comfort in your retirement years. 

Forgetting estate planning

This is one nightmare that seniors must never experience. What a horrible experience it will be when all the fruits of your labor during your earning years is not smoothly passed on to your family’s next generation. 

Most seniors think that creating an estate plan is unnecessary since their family can easily inherit what they will leave. But that is not the reality. When seniors die, some of their assets may be tied up, bank accounts may be frozen by banks and estate proceeds may be exhausted to pay taxes and liabilities when not planned well. 

A strategy to avoid this is to draft a last will and testament with your attorney so you can properly designate your beneficiaries. 

Conclusion

According to statistics, 1 out of 3 seniors eventually return to the labor workforce even after retirement. This is because the majority of them needed more income to finance themselves. Do not be among them. Plan and prepare early and avoid these financial mistakes for your own benefit. Need help? Send Coach Kathy a message!

How to Take Control of Your Finances

Na-scam ka na ba?  One reason kung bakit maraming Pinoy ngayon ang nabibiktima ng scam ay dahil sa lack of proper knowledge about investments and money.  Kaya naman, do you believe that the first investment you have to make is to invest in yourself?  Taas kamay! 🙂 Kung YES ang sagot mo, I have a very special invitation for you!   

I am inviting you to this FREE value-packed seminar!

 Anong ididiscuss dito? Simple ways how to take control of your finances. Learn how to accumulate wealth and be financially-free, para iwas scam ka. WHY YOU MUST GRAB THIS INVITATION:

  • Swak na swak ito for Pinoy breadwinners, lalo na kung marami kang tanong kung paano magsimula saving, investing, etc.
  • Knowledgeable ang speakers, so you can ask as the seminar goes
  • This is FREE! Pag libre, hindi dapat tinatanggihan yan. 😉
  • Bukod sa FREE na, snacks and drinks will be served. Saan ka pa?
  • Limited seats only.
  • Coach Kathy will be there! Pwede tayo magchikahan at magdiscuss after, kung meron ka pang mga tanong.
  • I will be giving a gift sa mga pupunta. It will be your reward for investing in yourself first. 🙂

Save your seat by registering here: MONEYWISE. In the “Invited by” field, put Coach Kathy so I know meron akong utang na gift sa’yo! Kung hindi mo maopen ang link, let me know. Kung pupunta ka, wag mo kalimutan to tell me ha. 🙂 

See you tomorrow!

Financial Literacy Is A Miracle

When you enter a large conference room full of people, how do you know who is rich or poor? Some of us might say, “Mayaman yung naka-Rolex watch sa kanan!” or “Mahirap yung babaeng hindi rebonded ang buhok.

But, as quickly as we judge easily based on looks, we can be found mistaken when we try to ask each person’s lifestyle and financial health. That person wearing a Rolex watch might be hounded by many credit card companies calling him for his payment dues. Or, that woman whose hair is simple and not styled by salons is actually an entrepreneur and is building her own empire.

Using this simple question, we can agree and conclude on 3 things:

  1. Many people equate “being rich” with physical appearance.
  2. Many people put value on a person based on the price tags of his belongings.
  3. You cannot easily identify who is rich or poor.

 

Of Poverty and Unemployment

Did you know that according to the Philippine Statistics Authority (PSA), there are 1 out of every 5 Filipinos who are considered poor in 2015. This is considering the family income as well as annual income and expenditures.

Surprisingly, the unemployment rate in the Philippines dropped from 5.6% to 5.4% in 3rd quarter of 2017 to 2018. This means that the number of Filipinos who are unemployed decreased by 50,000 to 2,320,000. However, while the Philippines have observed this good indicator, still the poverty reduction level in the country slackens. In 2018 alone, one-fifth or 20% of Filipinos live below the national poverty line.

Bill Gates once said, “If you are born poor, it’s not your fault. But if you die poor, it’s your fault.”  I totally agree with him, 100%.

What contributes to this imbalance between rich and poor?

As a licensed financial consultant, I came to realize that financial literacy plays a major role in this setup.

Financial Literacy in the Philippines

Historically, financial literacy is not taught in basic education. Financial literacy, or otherwise known as money management, is not given that much importance and emphasis in the education system of our country.

What majority of our schools teach revolves around in answering these questions only:

  1. What is money?Answer: Money is needed to be successful and to provide for basic needs and wants.
  2. Where to get the money?Answer: Money can be earned through employment. To be able to earn more money, students must aim to study hard so they can land on good-paying jobs in the future. 

While the statistics remain true, still 1 in every 5 Filipinos are poor. If we say that our educational system is at par with other wealthy and progressive countries, why do most Filipinos remain poor? Not taking into account political lapses, ineffective fiscal policies and programs, the root cause of the problem lies in the illiteracy of many towards handling their money.

 

Why Financial Literacy?

Is financial literacy a solution towards diminishing the number of Filipinos living below, at and a little higher than the national poverty line?

As schools fail to teach the value of money, how to accumulate it over time and manage it well, many financial literacy advocates and finance educators will answer a resounding

YES!!!

A person does not need to have a college degree, a doctorate or masters degree or even a professional license to even be considered financially literate!

Financial literacy encompasses 3 aspects of money management. Master these 3 and one will eventually see himself richer than he is before.

 

3 Aspects of Financial Literacy

  1. Deeper reasons of why money is needed
  2. How to accumulate money over time
  3. How to manage accumulated wealth as it grows

 

What are the Miracles of Financial Literacy?

While we can discuss so many benefits of financial literacy to any person, as a licensed financial consultant, I have discovered miracles of which financial literacy can be credited for.

 

QUALITY OF LIFE

Financially literate people are generally not the innately and necessarily wealthy portion of our society. Instead, these people are the “wise and rich” ones who have learned how to raise their quality of life through proper money management.

 

ECONOMIC IMPACT

With more Filipinos who understand how to make money work for their good, the economic standing of the Philippines will improve. Financial literacy can result to more economic gains to the country, more opportunities for investments, new investors and general improvement of the welfare of the Filipinos.

 

HEDGE AGAINST INFLATION AND RISKS

Financially literate Filipinos know 3 basic things about their money: WHAT, WHY and HOW. As such, they know how to protect their hard-earned income and investments against risks of loss of money and inflation. Among the most popular risks affecting the financial health of any person are:

  1. Death
  2. Loss of income
  3. Disability due from accidents
  4. Disability due from critical illnesses

A financially literate person knows that these risks, though cannot be totally prevented or eliminated from their lives, can be hedged by a well-protected financial plan.

The miracle of Financial Literacy is found in looking at Filipino lives that have changed for the better.

Why Female Breadwinners Have Tough Romantic Relationships

I know you clicked on this article because the title caught you. Apektado ka, diba? Ako rin eh! In this article, we will boldly discuss this very interesting topic kung bakit karamihan sa mga female breadwinners experience tough romantic relationships.

Hindi na tayo lalayo, even if we just limit our discussion sa mga Pinay breadwinners, many will agree to this:

Why do female breadwinners have tough romantic relationships?

Who are the female breadwinners

In our context, i-define muna natin ang “breadwinners” in general.

Breadwinners are people who earn money to support a family. A person may be earning money but support no one but himself.

Para mas maganda ang usapan, let us classify these female breadwinners who are in relationships:

  1. Those single or not yet married who have boyfriends or engaged already
  2. Those married and are still heavily supporting their extended families
  3. Those married and the female breadwinner is the primary provider of the family

Sa bawat klase ng female breadwinner, we will discuss ang mga posibleng dahilan kung bakit romantic relationships appear to be challenging or difficult for them.

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The single or not-yet-married female breadwinners

Maraming female breadwinners belong in this category. Kadalasan sa kanila ay mga panganay sa pamilya. Yung iba naman, even though hindi sila ang panganay, sila naman ay may maayos na trabaho or business.

Most of the struggles of these single female breadwinners come when they wanted to be in a romantic relationship already but their family wouldn’t allow it. Have you heard these lines in a Filipino household:

“Hindi pa tapos mga kapatid mo sa pag-aaral. Wag ka munang mag-aasawa.”

“Ikaw lang ang inaasahan namin.”

Because Filipino families have deep familial ties, this overflows even to the aspect of financial support. While hindi masama that Pinoy breadwinners ay tumulong sa pamilya nila, there have to be boundaries.

Personally, I encountered these issues in my previous relationship. Because I am the family’s breadwinner, I support my whole family. We were already making plans of getting married soon but my family issues got in the way. My family still does not want to let go of me. My ex was not able to wait any longer.

Here are some advice for female breadwinners in this category:

  • Teach your other family members how to value money. Ika nga, hindi natin pinupulot ang pera.
  • Hindi masama to give financial support to your parents lalo na kapag matanda na sila and hindi sila nakapaghanda for retirement (we will have a separate discussion about this soon). But if you have siblings who are able but are still depending on your support, that is a different case.
  • If you have other family members who earn money also, ask help in carrying the burdens.
  • It is also helpful if you establish a family household budget, aside from budgeting for your own personal needs. In this budget, list down monthly all sources of income and where it will come from (from you, your other family members, etc.). List down also all your household expenses. In this way, you are able to instill the value of money and budgeting it.
  • Be able to diplomatically relate to your family that, sooner, you will also have your own family. Make it known to them that you are also preparing for your own future family. This is where getting insured and invested as early as today comes in handy. (If you like to get started on this, I can help you. Just sign up in our website!)
  • If you are in a romantic relationship now, it is very helpful if your partner fully understands your situation. Better if he understands your struggles and helps you achieve financial independence, not just for you, but for your family as well.

The married female breadwinners supporting heavily their extended families

Ito ang isa sa mga madalas simulan ng misunderstanding and issues sa isang mag-asawa: Yung may binubuo na kayong sariling pamilya but one of the partners is still supporting their extended families heavily.

We want to emphasize the word “heavily” here dahil our concern to our parents and siblings does not end as soon as we get married and start our own families. Ang issue dito is yung frequency.

Everything must be done in moderation and reasonableness.

That is why the tips in the previous section (single female breadwinners) before become very useful. It is better if before a female breadwinner starts her own family, she was able to help her own family stand on their own and not fully depend to her.

Here are some tips to help female breadwinners in this category:

  • It is better to make sure that even before you leave your family and start your own, you were able to create a form of livelihood for them. Personally, ginagawa ko na ito ngayon because I learned so much from my failed relationship as a single. I am starting side businesses that I involve my family members.
  • Learn to say no at times. Hindi naman sa lahat ng oras ay ikaw pa rin ang aasahan nila. Hindi masamang tumulong pa rin pero moderation is the key.
  • It is better if this issue is also talked about by the couple. Ask your partner his perspective on helping your own families and be able to compromise.

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The married female breadwinners who are the family’s primary provider

Women in our time and generation have arrived to the age where the stereotype that married women become housewives only has been broken already.

Many married women today are also working now, whether full-time or home-based, to help provide for their family needs. The concept that the men alone must work to provide for the family is not generally accepted now.

So where do issues arise for these class of female breadwinners? That is when these married female breadwinners become the primary, if not only, breadwinner in the family.

Sinabi natin na “primary” dahil there maybe 2 scenarios here:

  1. The female breadwinner or si misis ay mas kumikita ng malaki kaysa kay mister
  2. The female breadwinner is the only one earning in the family

In the case of married female breadwinners who earn much than their husbands or partners, the issue arise if merong competition between them. Lalong lalo na kapag natatamaan na ang ego ng lalaki. Accept it or not, there are men who hold on to the “macho” image that they feel inferior kapag mas malaki ang kinikita ng mga misis nila kaysa sa kanila.

In the second case naman, hindi talaga maiiwasang magkaroon ng issues between husband and wife lalo na kapag nararamdaman ng female breadwinner that she alone carries the burden.

Here are tips of advice that can help female breadwinners in this category:

  • If the wife earns much than her husband, it is important that they discuss openly about it. Make sure that it is agreed that even though ganun ang situation nila, it will never be an issue sa marriage nila. Learn to meet halfway.
  • You are never a competitor to your partner. You are meant to be helpmates of each other.
  • For female breadwinners na sila lang ang nagtratrabaho, discuss the reasons why ganito ang setup ninyong mag-asawa. Openly discuss how each of you can help carry the burden.

How has this article helped you? Let us know in the comments below! Share with us your struggles and tips as a female breadwinner!

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Top 3 Secrets To Building Wealth

Many books, blogs or finance coaches will tell you many tips on how to EFFECTIVELY BUILD WEALTH. The list can be endless dahil totoo namang napakaraming magagandang tips and techniques kung paano magiging successful in handling our personal finances.

Usual questions

Nandyan yung mga usual na tanong such as:

“How can I start saving when my income is small?”

“How can I budget my money?”

“Where should I start investing my money?”

“How can I be sure that my investments are legitimate and safe?”

“How will I know if my investments are earning?”

“How can I increase my income?”

All these questions and many more plague the minds of many Pinoys today, lalo na ang mga millenials. In fact, if you try to do a quick Google search, you will realize na napakaraming tao na ngayon ang interested to learn more how to manage their money and make it grow.

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The secrets are out!

But I will tell you a secret! All those tips can actually be summarized into 3 secrets only. In this article, I will share with you the TOP 3 SECRETS to building wealth effectively. Manage these and your will see a big positive difference in your personal financial life sooner.

1. MANAGE SPENDING.

Earning money is one thing but teaching and directing yourself how to spend money is a totally different thing.

The #1 factor that makes a person rich is not how much he earns. It is in how he spends his money.

Alin ba ang mas kaya mong ma-control, ang kinikita mo o ang paggastos mo? Majority of Pinoy breadwinners ay merong isa or dalawang source of income. Kadalasan pa dito ay steady income lang gaya ng sahod bilang empleyado. Kung sidelines naman ito, usually ay hindi mo controlled ang pwede mong kitain dahil sa variability of many factors.

Start saving by spending lesser on unnecessary things today. You must teach yourself where your money will go bago mo pa man ito mahawakan. Kadalasang sitwasyon kasi ng mga Pinoy breadwinners ay naghihintay ng petsa de peligro, at bago pa man mahawakan ang sweldo ay ubos na ito! Minsan ay kulang pa nga.

To give you an idea how managing your spending can really help, read this related article of how a Pinay breadwinner was able to save more than 10K in a month.

2. EARN MORE.

When you have a steady habit of saving even in small amounts by cutting on your unnecessary spending, it is time to ACCELERATE YOUR SAVINGS. One idea na nakakalimutan ng mga Pinoy is that savings are done over time.

There is no such thing as an overnight savings! Yung tipong nag-ipon ka ngayon ng 100 pesos tapos paggising mo bukas ay 200 pesos na! Ang sabi nga, saving is very much like farming. The day you planted the seed is not the day you will harvest and eat the fruit. 

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Saving takes time. What you do in between the planting and harvesting is what will make you succeed in your personal finance journey.

So, how do you accelerate your savings? Get a side hustle!

Do you have a skill from which you can earn on the side? Is there a skill that people refer to you for help most of the time? Maybe you can count on that skill to earn money as a side gig!

Be creative and invest in knowledge that will help you earn more. From your extra earnings, separate a portion for savings.

3. INVEST WISELY.

Once you have developed the discipline of spending wisely and consistent saving, it is time to invest.

Investing is what will make your money and savings grow and multiply. The goal of investing is also to be able to protect yourself and your money from the effects of inflation.

Ika nga, kung may naipon ka na 100,000 pesos for 2 years of saving, anong gagawin mo dito? Tandaan na ang 100,000 pesos mo ngayon could have a value of lesser than 100,000 pesos one or two years from now because of inflation.

Investing is putting a hedge of protection around your hard-earned savings and at the same time, maximizing your money’s potential to grow. It is making your money work for you, instead of the other way around.

Investing wisely means knowing where, when and how much to invest. Not all investment opportunities will fit a person. It takes proper knowledge to be able to MULTIPLY YOUR SAVINGS INTO WEALTH.

Not all investment opportunities are created equal. Merong risks and potential returns involved. Before leaping into the ocean of investments, make sure you study first how to swim. Dahil kung hindi, baka tangayin lang ng mga alon ang lahat ng perang pinaghirapan mo.

Which step are you in? Share with us in the comment box below! Let me help you plan your personal finance success. Learn more inside information! Join the PinoybreadWINNERS Generation

10 Things To Do After You Get Your First Job

So you graduated fresh from college! Armed with your sobrang pinaghirapang diploma, you set your foot towards the intimidating corporate world para maghanap ng trabaho. And, voila! You just got hired!

What now?

As a young professional now, let me share with you 10 things to do after you get your first job. I was able to make this list not because lahat ito ay nagawa ko na; some items dito are things I wished I could tell my younger self to do as early as before.

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1 – Complete your valid IDs.

You will know that a person has really passed on from student to adulting stage by checking her wallet! Bukod sa kung dati ay wala pang masyadong lamang pera, you will notice that aside from bills and coins ay puro identification cards ang laman nito.

When you get your first job, make sure na makakuha ka ng as many valid IDs as you can. You may not use all of them immediately but it is better to have them as early as now. Among these IDs that you can start securing for yourself are:

  • SSS
  • Philhealth
  • TIN
  • Passport

2 – Set your goals.

As early as getting your first job, make sure that you set your goals straight. Yes, these goals might change over the years habang mas nakikilala mo pa ang sarili mo and your strengths. But, to give you direction for “why you do things”, a simple goal-setting can help.

It depends on you on how you will identify these goals. What is also important is to make it clear and write it down. There is something in writing goals in paper and pen that makes these future goals look real and tangible in the present.

Pwede mong hatiin ang goal-setting mo into aspects such as:

  • Career
  • Personal
  • Financial

Or you may also categorize your goals into short-term, medium or long-term.

3 – Decide on what kind of lifestyle you want to live.

It may appear na OA pero looking back, this has proven to be a common struggle by new members of the earning sector ng ating bansa. Default kasi sa ating mga Pinoy na todo-waldas, lalo na kapag nakahawak ng pera. Hindi pa kasi deeply engraved culture sa atin to think many times before spending on something.

I have seen this typical story happen to many of my colleagues before: Si Juan ay lumaki sa isang middle class na family na nabibili lang yung sapat na needs ng family. When Juan graduated from college, he immediately got hired. At dahil earning na si Juan, his thinking that he has “more money than before so I can spend more than before” ay pwede nyang ikapahamak.

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Sabi nga, it is not bad to enjoy the fruits of your hard work. Pinaghirapan mo ‘yun eh! Pero dapat, your lifestyle will depend on your earning capability and your spending habits. In choosing your lifestyle, make sure that these factors are present:

  • Income source
  • Spending habits
  • Hobbies
  • Sustainability

4 – Pay yourself first.

Yehey! May trabaho ka na, it is not bad to deprive yourself of experiencing the joys of being able to step out of poverty. Ilibre mo ang sarili mo sa unang sweldo mo. Also, don’t forget to treat the people who helped you get to where you are. They may be your parents, your uncles or any others who helped you finish your school. A simple treat will count.

5 – Get yourself a planner.

Yes, even a simple yearly planner! Discipline yourself to planning out your week, listing things to do and marking out appointments. In this way, you will see how productively you are using your time, which is your most costly resource.

6 – Find a mentor.

Since you are starting out on your career, it is best if you can find a trusted and credible person who can mentor you. Your mentor must be someone you respect. It must be someone who you look up to or plan to emulate.

If you cannot find one, try at least to look for reliable people who you can pattern your habits, beliefs and convictions.

7 – Pay off any debts.

When I got my first official job (I had so many side jobs before while studying), our family had incurred debts that were related to my school expenses. If you got the same situation like mine, pay off these debts immediately and as you are able. Or maybe, you may have incurred debts related to your job hunting conquest and requirements.

It is better to start off your financial life as a young professional with a clean credit standing.

8 – Plan and setup your emergency fund.

This is one of the things na usually ay nakakalimutan ngayon, especially millenials. Setting up your emergency fund is one of the wisest things you can do for yourself financially.

An emergency fund will serve as your financial safety net for immediate emergency needs in the future. Many fall into the thinking trap na mag-iipon sila for emergency kapag malaki na ang salary nila. But, saving starts even small.

There are others naman who overlook the value of having an emergency fund at dumidiretso agad into investing into stock markets or VUL. Plan and setup your emergency fund first, saka ka mag-explore.

9 – Protect your income.

Next to setting up your emergency fund, the next wise thing you may want to do is to protect your income. How will you do this? Simply by protecting yourself through life insurance.

If kagaya kita na breadwinner rin sa family and many family members depend on me and my income, it is very important that you make yourself protected from certain events na out of your control. Among these events are:

  • Death
  • Accident
  • Illness

Your life insurance will cover these uncontrollable events in life to ensure na yung mga nakadepende sa iyo ay hindi mahihirapan financially, in case anything happens to you. Ang kagandahan ngayon ng most insurances ay may kasama na itong investment portion so protected ka na, lumalago pa ang pera mo.

If you are in this stage already and you think you are ready, I can help you in your journey towards protecting your income as a licensed financial consultant.

10 – Grow your money.

So you have your emergency fund already and you have made plans already to protect your income. The next thing you can do is to grow your money. There are so many ways with which you can grow your money:

  • Stock investing and trading
  • Mutual funds
  • UITF
  • Real estate
  • Businesses

Ang mahalaga lang ay before you venture into growing your money, you grow first your knowledge about personal finance.

Which of these tips have helped you so far? Have you done any of them already? Let us know in the comments below! 

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