A lot of poor people lack knowledge about personal finance and some don't care to spend time to learn about it. Many people have no plans, the worst they only have little savings setting aside investment. The savings they have are usually put into accounts with a low rate of return, likewise late did they realize that their money doesn't work for them added to the inflation rate which decreases its purchasing power and its real value. So what do we do? The very first step to is to EDUCATE OURSELVES. Mind you there are tons of vehicles these days which give FREE Online workshops, seminars, trainings and even financial check up. ALL YOU NEED TO DO IS TO PAY ATTENTION TO THEM CLOSELY. Take this analogy: A baby who just started to learn how to walk is being GUIDED by his/her parents so that he/she would have the balanced and the confidence to be able to walk on his/her own. This same goes through with money. If you want your money to work for you, the most stupid thing you could do is putting it in the bank, please be aware of their less than ONE PERCENT annual interest rate. The most clever thing you could do instead is to buy shares of the bank and earn through cash dividends! Note: This is applicable for Filipinos who would want to expand their horizons in terms of Financial Education. Non-Filipino citizens who are interested to invest in the Philippine Stock Market can check more here https://filipinowealth.com/can-foreigners-invest-in-the-philippine-stock-market. Images are mine taken a snapshot from the book entitled; The Secret to Savings and Building Your Future: Become Your Own Financial Educator and my Metro Bank cash dividend sent by my online broker Col Financial (Philippines) Disclaimer: International Marketing Group (IMG) is one of the few companies of it’s kind in the industry today; a company which caters to the financial needs of every individual and family who wishes to attain Financial Independence. IMG established agreement with many of the world’s leading financial services in the Philippines who offer a broad array of Financial Product’s and Services. IMG does not sell Mutual Funds. All mutual funds are sold by Rampver Financials.
No comments yet