money Financial Planning

[bigsam]

And I have not cleared my debts still...Tigas kasi ng ulo.

 

The good news is, I am finally on the way to clearing both long-term and short-term debts.

 

I guess it will take four years on my present income before I finally get rid of them. At least I finally have the discipline to really act on it.

 

And yes, I'm saving money along the way. I can't neglect my savings project.

 

it's good that you will clear your debts soon.. but even before considering investing, meron pang more important issues.. emergency fund and insurances. when/if bad luck hits, all your investing will be wiped out if you don't have these two.

[Lordace13]

Meron po ba dito may insight tukol sa Forex?

[Dominator93]

Meron po ba dito may insight tukol sa Forex?

 

What insights do you want ba? I'm currently trading in forex through a clearing house based here in the Philippines. How much do you plan to invest ba?? I can endorse you to my financial consultant right now. She's good and the company itself will teach you not only about forex and how to trade, they will guide you on how to trade wisely. If you have any questions, fire away!!

[WizRider]

Mga Sirs, GMs and Girls. I'm an insurance advisor from Sun Life Financial. Anybody here interested in getting a life insurance with investments on mutual funds please PM me or contact me at my mobile no. 09224852755. We can set up a meeting to discuss this.

 

Thanks and God Bless!

[-DELETED-]

Sharing what I'm doing as a regular employee. (Other's might have a better financial plan for employees like me, feel free to share and compare)

 

The moment I graduated college, I am on my own so it means that I'm paying for everything from my basic needs. When I started working, for my first year I don't have savings on me. I used all my money for my living expenses (25%Living Quarters including appliances that I need, 25%Food and other expenses going to work) while 50% of my salary goes for clothes, and other expenses like eating outside and giving back to my family. As my second year started, I planned on saving for emergency purposes. My financial structure were design as follows:

 

1. 20% - Savings (First thing to consider before anything)

2. 20% - For potential investment

3. 40% - Living Expenses

4. 20% - Excess funds which I can use for anything that I can enjoy (This is needed, you are working to live not to die so make use of your money to satisfy yourself)

5. There are always an excess for #3 and #4 (at least for me who doesn't go out a lot) you can always put it into good use for next payroll. Don't spend everything just because you already have savings (if possible).

 

I am living alone and somehow survived . As for me I used my budget for investment in PAG-IBIG FUND contribution as it has 4% annual interest (more or less depending on effective rate) which is a lot bigger than banks. I also started buying shares of some companies and went for dividends not for buying and selling when it fluctuates as I am busy monitoring the movement due to my own work. We also made a small business with co-workers and now is a great help for my financial needs (You have to choose your partners though and of course, the nature of business), for starters you will be the owner/employee since you will start small but soon it will all be worth it. Also don't hesitate in getting medical cards as it will help you in case of need.

[moreley]

Yup that sounds like a good plan...also if your SSS contributions isnt maxed out yet you can go higher and your employer is supposed to match it or at least go as high as it can too.

 

Another investment is investing in yourself...check the company for any seminars or training programs they can sponsor for you. As usual, credentials do help a lot when looking for other employment opportunities.

[neville]

I'm glad to see that there are people who let this thread flourish.

 

Right now, I finally have managed to discipline myself with my spending. No more credit cards for the past three months. So far, all my expenditures are all done in cash. I am one debt down. I have determined this year's big purchases and listed the period and amount I should set aside every payday.

 

I still have yet to find a part time job to add to my income. Discipline really is the key word for this year.

 

Here's to a better 2017 everyone.

[blue+george]

financial planning is easy. doing the plan is difficult. same as diet and exercise. easy to say, difficult to do.

 

1. earn (the more the merrier) maybe get a high paying job

2. invest (do this as early as you can) this has a lot of meaning (invest in the stock market, bonds mutual blah blah blah) basically invest in something that in your own research grows overtime. that's my deifinition.

3. save what's left after investing. (this is not for spending) for your future business venture, it takes time to save, research and start. so rather than buying a new iPhone or pc or a new car, try saving to buy or start a new company. this way it will help you pay off more expenses in the future. (for you kids out there, you can thank me after you hit 40 or 50) for you guys who are in the 40's do catch up, you still have time. for those in the 50s no point already... just survive and try to save more for your hospital bills that will be coming soon.

4. expenses - minimize. kung mahilig kayo gumastos o magyabang o pomorma, gimik, uminom at mag bisyo, mga tol, pag tanda nyo palamunin din kalalabasan nyo... yun ay kung aalagaan kayo ng mga anak nyo and provided may pera sila. most likely, kapos kulang din sila sa budget. look around, pare pareho lang tayo ng problema. so if you cant solve your problems today or in the near future... get ready to suffer more... you may need to beg if need be... so wag maaksaya.

5. d na baleng simple lang ang pamumuhay, importante, covered na ang future nyo.... (learn from the experience of older people, ask them what they did and where are they now) may chance pa para ma change nyo future nyo...

 

cheers happy new year

[neville]

cash transactions all the time...that's what i do now. Thank you for the strong advice and the good example, ate

 

i'm more disciplined with the budgeting...sometimes i slip, but not enough that i resort to using plastic.

 

my ate helping me a few months ago with my money woes, was a great help. Having a second job is also a boon to my financial situation.

 

i am optimistic that all my debts (to my ate, included) will be paid off this year.

 

 

 

 

let's revisit this post come December 2017

[sirheinrichcu]

I placed all my salary in megasportsworld for nba gambling. now I lost all of them . is financially poor

[3 points king]

You really have to work and invest there is no easy money.

[Astig73]

work hard then use budgeting.. make sure you allot money to investments too.

[3 points king]

If you are an employee or even a start up businessman the usual tip is you have at least 6 months savings of your regular monthly expense, say your expense per month is 100k ,you must have a work hard to have a savings of 600k ( 100k x 6 months) .This buffer or savings will be for emergency cases.

[3 points king]

If you are an employee or even a start up businessman the usual tip is you have at least 6 months savings of your regular monthly expense, say your expense per month is 100k ,you must have a work hard to have a savings of 600k ( 100k x 6 months) .This buffer or savings will be for emergency cases.

You must work hard I mean not you must have a work hard. Typo error

[Mrgoogley2889]

I earn 20k month malinis na. Bawas na tax bawas na lahat ng gastusin ko and i want to invest on business or other income generating vehicle. Kahit passive na maliit basta meron. Any recommmendations?