Investments

Investing has never been introduced to me while growing up. Though my parents keeps on telling me to save some of my baon, the lure of junk food always won.

I did try to open a bank account. At that time, the opening amount is at Php 10.00. And that's just it. Just opening the account, none were added to it until it became dormant.

But as you grow older you learn to prioritize things and save for the future. So I started investing.

My first ever investment was thru an education fund for my girls. I opened an educational fund for when they reached high school I will have fund ready for the tuition fees. It is much cheaper to invest in education fund while the child is still at zero age. And this is just what I did. The plan was to be paid in five years and can be claimed when the child reaches high school. I choose the cheapest fund as that is all I can afford.

The proceeds was given to me annually with an increment of 15% per year. So during my eldest child's first year, I received Php 15,000.00. The following year, I received Php 17,250.00 while in the next 2 years, I recieved Php 19,837.50 and 22,813.13, respectively. The same goes with the fund for my second child.

My second investment was for a pension plan. With an investment of around Php15,000 that was paid in installment for 5 years I got to claim my pension after several years at the amount of Php 50,000.00.

Another investment I made is that of insurance. A life insurance and at the same time an investment. This is a bit more expensive than just a plain life insurance but then it is payable thru installment for 10 years, so it is not that heavy on the pocket.

I invested this in different insurance providers, Prulife and Manulife. I can also borrow from my funds if the need arise.

I also invested in a memorial plan. This one has a money back guarantee should the plan is not claimed 5 years after full payment. Meaning, the full amount that was paid for the plan will be returned if the plan is not used after 5 years from full payment. I think I can already qualify for the money back guarantee as the plan was fully paid more than 5 years ago.

Again, that plan was paid thru installment for 5 years.

You may have noticed that I am fond of installment payments. 😁 Well, I can only afford a small amount monthly. I cannot invest with large amounts involved as I don't earn that much. Installment payment is all I can afford.

After the first memorial plan was fully paid, I again invested in another memorial plan. The first memorial plan was for a casket but the second one is for a cemetery lot. 😁 This is again a 5 years installment. I still lack 2 years more of payment for this plan. I know, those who I will left behind will be the one to benefit from this investments but at least I know that they will not be burdened by me. I am just praying that I will not get to use this plans for a very long time yet. 😁😂

Lately, the lure of real estate has gotten to my blood. And I started investing in real property. Again, with installment payments, you will not notice that many years and many payments has gone by and you have now fully paid such investments.

Although these real properties that I invested with are located in the provinces, the value of these many years from now will have escalated and will give me a good profit should I decide to sell them.

The first property that I invested was in the southern part of Cebu. At Php 1,900.00 a month for 6 years, I get to own a small lot in Carcar. But eventually, this property will be very expensive once the planned airport in Carcar will be in place. There is also a plan for an industrial space for EPZA (Export Processing Zone Authority) in the nearby area. By then, I will have two choices, either to sell the lot as is or build a house for rent.

Another property is in the northern part of Cebu, Medellin to be exact. This is a bit expensive since this is a beachfront property. This is a 7 years installment. Again, a very good investment as another airport will be built in the neighboring province that is just 20 minutes from the property.

I know I am a bit tight in terms of spending money because of these several investments but I learned to stop myself from buying things that are not necessary. Unlike before, when I received my paycheck, I go to the malls to buy a new bag or a new shoes or any that caught my attention. But since I started investing, I wore the same shoes that I bought 2 years ago, I have not replaced the bag I am using for a year now. As long as it is still wearable and usable, I don't plan to buy a new one.

Self-discipline is the key. 😁

Happy investing!