This is may sound so absolute to other people but I am a believer in Financial Education. I have a strong conviction should only 90% of the people from my country alone invest either in stocks (cryptocurrency still sound so alien for others), our economy could be boosted somehow.
Have you heard of a maid's story who invested her salary in the stock market? and eventually became a millionaire?
Yes, got me right!
Gina, is her name and she's real! I mean we are friends through FB and IG and I am always struck by how her story moved thousands of Filipinos who are working their best foot forward to attain Financial Abundance and the cliche being a "millionaire" does not only limit to those who are earning huge amount of money but it entails a lot of SELF-DISCIPLINE and DELAYED GRATIFICATION to EVERYONE.
Like what the CEO/Founder of Col Financial, the leading online stockbroker in the Philippines, sir Edward Lee when he said that "every Filipinos deserve to be rich!"
My advocacy is Financial Literacy because I have encountered many people overseas and even here in Seychelles, likewise back during my three years worked experienced in the Middle East,
that many Filipino Overseas Workers are still financially struggling even broke going home to the Philippines after their long and tedious working years abroad, not merely 3 to 5 years but what I am talking here is long enough to have saved and invested should they were only being GUIDED, like the SAM (nah nah not Sam Milby lmao! but SAM as in Strategic Averaging Method, as a GUIDE on what stocks to buy, how much are we going to buy for such stock morever if there's a need to sell should when hitting the Target Price
A fellow Kabayan back in Doha who worked for 20 years in the Middle East even shared one day that she's still in debt and struggling financially despite a good and steady income because her salary was always on a rat race too.
meaning every payday 90% has been sent to her families, spent for a value depreciated items ( almost the same like Linda)
Hey, don't get me wrong, I did not say, you won't help, as the main reason for working abroad is to support your family,
but...
my point here is SETTING ASIDE at least 10% of it regularly on a vehicle that would grow in a compounding interest of at least 8 to 12% annually!
*for 1000php you could invest on mutual funds already, of all my transactions, I have used the one from last year since it has great momentum when the market was already closed and I need to have an Off-hours order, not to mention it's FRIDAY which means the market shall confirmed my order by Monday)
Sharing with you my cash dividend last year as well from Metrobank with atleast 13% stock rate! fair enough right? ( as per this year I shall update on my next post)
*Image of a woman on a laptop/phone:
Photo by energepic.com from Pexels
*The rest of the images used are mine edited via photogrid.
*Lead image edited via photogrid
I can't agree less with your article. Being financially literate might be a strong key to financial freedom.