It is no secret that Filipinos get the majority of their income from salaries. Most of us are at the mercy of our employers to give us a payslip that's usually not enough for what we want. We work hard payday after payday expecting meager wages while trying to grind our way up the corporate ladder. While this is not necessarily a bad thing, wouldn't it be better if we have other sources of income?
You may have heard or read somewhere the phrase "let your money work for you". That is what investing is all about. Let your hard-earned money accumulate and earn. You don't have to do anything other than placing it to the right kind of investment. This is called passive income. You can still watch your favorite movies or hang out with your friends while your money earns interest or dividend. Earning a little extra money wouldn't hurt us right?
Investing is a good way to save. Assuming you get the right kind of investment it will help when the time comes when you need money for emergency. Couple that with the salaries you get and you will be more comfortable financially.
The Philippines have fast become a country of consumers - they think of spending first before saving, much more investing. Who can blame us? It is really cool to have the latest ipad or smartphone right? But while it is really tempting to spend, let us try and think of it this way: If I invest first before spending and let my money grow, I can still buy those gadgets using the income from my investments. That way I am merely deferring the purchase. Isn't it great to both own the gadget and have some investments! Make investing a habit, and the best day to start is today.
For the next posts I will discuss how to choose the right investment for you and how to start investing. It's gonna be exciting!
You may have heard or read somewhere the phrase "let your money work for you". That is what investing is all about. Let your hard-earned money accumulate and earn. You don't have to do anything other than placing it to the right kind of investment. This is called passive income. You can still watch your favorite movies or hang out with your friends while your money earns interest or dividend. Earning a little extra money wouldn't hurt us right?
Investing is a good way to save. Assuming you get the right kind of investment it will help when the time comes when you need money for emergency. Couple that with the salaries you get and you will be more comfortable financially.
The Philippines have fast become a country of consumers - they think of spending first before saving, much more investing. Who can blame us? It is really cool to have the latest ipad or smartphone right? But while it is really tempting to spend, let us try and think of it this way: If I invest first before spending and let my money grow, I can still buy those gadgets using the income from my investments. That way I am merely deferring the purchase. Isn't it great to both own the gadget and have some investments! Make investing a habit, and the best day to start is today.
For the next posts I will discuss how to choose the right investment for you and how to start investing. It's gonna be exciting!