Saturday, February 23, 2013

Get Educated


I have always maintained that one of the best things you can do yourself financially-wise is to educate yourself and devour all the information you can get your hands on.

I started by reading personal finance sections and websites, then moved on to books and TV shows. This time around, I'm in the mood to attend seminars so I have been on the lookout for various lectures around the Metro. Here's what I've compiled:


Truly Rich Club's Wealth Summit 


This is a two-day event at the PICC and is something I'm really looking forward to. I think there are still tickets available but I doubt if there are still discounted ones to be had. I bought mine with an insane 75% discount (read post here), but even with that, I still felt a little queasy typing in my credit card details because it was the first time I ever spent that much on education. Still, I have a strong feeling that it will be all worth it :)

TGFI (Manila) Bulls Session


Lyn-Lyn brought this one-day workshop on the stock market to my attention and I wasted no time securing two seats for myself and my hubby.  

Imagine, two weekends blocked out for financial education. Nerd alert!

RFP's Financial Fitness Forum


This is another seminar that I'm really interested it, the only problem is Bean is scheduled to pop out around that time (first 2 weeks of May), so I don't think it's prudent to be gallivanting far from my hospital at that point.

Incidentally, being a registered financial planner has officially made its way into my bucket list. I'm not sure if I'm ready for a career change, but at the very least, I will have moral authority to butt in into other people's financial business ("Are you a certified RFP? Well I am. So sit down and shut your mouth!").

Inspiring Excellence


Ok, so this isn't technically a seminar on financial education, but it does talk about excellence and leading life to the next level, the very frame of mind that one should be in when plotting her map towards financial success.

Besides, I heard Francis Kong is an excellent speaker.


Whether or not you attend seminars or go at it at your own pace by self-studying, the point is to keep on learning.

Happy weekend everyone!

Get Educated


I have always maintained that one of the best things you can do yourself financially-wise is to educate yourself and devour all the information you can get your hands on.

I started by reading personal finance sections and websites, then moved on to books and TV shows. This time around, I'm in the mood to attend seminars so I have been on the lookout for various lectures around the Metro. Here's what I've compiled:

Saturday, February 16, 2013

The Need for Financial Education

I was once again reminded of just how much financial education most Pinoys still need when my officemate told me this story about her friend.

Now my officemate is one of my "converts", one of the few people I strong armed to start investing in mutual funds after she confided that she invested in jewelry. She claimed that every time she had her jewelry appraised in a pawnshop, the quoted price would be a little higher than the last appraisal. However, she admitted that the appraised price was still way below what she paid for her piece, but she was hopeful that it would at least reach the retail price in a few years. And that was when I butted in and forced her to invest in mutual funds, printing out the documents for her and holding her hand through the entire process.

She's been investing in an equity fund for about half a year and is quite happy with the results, so much so that she also started encouraging her friend (let's call her Ms. X) to open a mutual funds account. Ms. X claimed that she's so scared of investing in stocks after her husband invested Php15,000 in BDO and lost the entire amount. My officemate tried to explain that mutual funds are not the same as stocks, but Ms. X wouldn't listen, as she had already been traumatized and refused to go on that rollercoaster ride again.

But really, I can't imagine how you can lose your entire investment with BDO stocks, as the bank hasn't tanked or experienced a bank run. I told my officemate that Ms. X probably misunderstood her husband, because there's no way that you can lose ALL of your money in a conservatively run company like BDO (it's a bank for crying out loud!). 

Anyway, Ms. X said that instead of investing their money in scary stocks, she borrowed Php200,000 from GSIS, while her husband borrowed Php100,000. They then invested this amount with a certain lady who would then lend the money to other people, with interest. For every Php100,000 invested with that lady, she guaranteed a monthly return of 5% or Php5,000. So their Php300,000 investment earned them Php15,000, while about half goes to repaying their GSIS loan, giving them a cool Php7,500 per month.

Take note though that the lender is just an enterprising person doing this on the side, she is not accredited with any lending company or any institution for that matter, aside from the government office she works for. But despite all this, Ms. X and her husband trust this lady because (1) she's been doing this a long time; and (2) she works in the government.

This is just a disaster waiting to happen. I can think of at least two things that can go wrong here: (1) What if the lady decides to take a permanent LOA from government service and absconds with the money? and (2) How can the lady guarantee payment from her clients? And corollary to that, what if her clients can't pay, how can she honor the 5% interest promised to her investors?

Maybe the lady has a direct hand in disbursing employees' salaries? Maybe she can deduct the monthly payments even before the employee/ borrower can claim his/ her pay? I really don't know, but all I know is that it has all the makings of a possible estafa case and the lady's rates are probably unconscionable, for how else can she promise 5% to her investors?

It's sad that Ms. X thinks that investing in the stock market or in mutual funds is a scary and unwise experience, yet she would willingly hand over her money to someone na "laway lang ang puhunan" and could very easily run off to Timbuktu (or Kota Kinabalu, if you want to go into recent events), never to be heard of ever again.

And that's why I will continue to nag, beg and bully my friends to start emergency funds and invest in mutual funds and stocks. The need for more financial education is clear as day for me.

The Need for Financial Education

I was once again reminded of just how much financial education most Pinoys still need when my officemate told me this story about her friend.

Saturday, February 9, 2013

More Good News


My personal fave is number 7- "The Philippines now has more money in its wallet than the amount it owes." Now if the same thing will also hold true for the average Filipino, meaning he/she has more money in savings or in investments than what he/she owes, then that would be absolutely awesome!

Number 8 is a little painful for me to be honest, and I bet for other dollar earning people as well, because a part of my income is in dollars, so having a strong peso means I get less bang for my dollar's buck. On the other hand, that also means that my peso has more buying power now so I'm currently practicing dollar hedging as suggested by Fritz Villafuerte.

Anyway, even if I lose a few hundreds of pesos every month (my dollar income is not that substantial to be perfectly honest), my portfolio more than makes up for it. So it's still all good.

Rise and shine Philippines! The sun is bright and there's no perfect day than today to make things happen and make your life better.

More Good News

Tuesday, February 5, 2013

Organizing with Printables




One of my biggest pet peeves is wasting food. Yet time and time again, as I clean out our fridge, I find spoiled takeaways or other foodstuff lodged in the back, forgotten and happily rotting away. Eeeew.


The usual suspects are takeaways because it seems as if the moment we stick them inside the ref, we forget that we ever brought them home. But surprisingly enough, pizza never ever goes bad in our house, which just goes to show what our favorite food is:p


Anyway, I've been mulling over how to prevent any more food wastage from happening and found my solution with IHeart Organizing's freezer inventory system. The system I devised is way simpler though and my printable is not as pretty, but it gets the job done. So far, I have limited my refrigerator list to takeaways and leftovers, and use a simple In and Out method to track food.


Organizing with Printables


One of my biggest pet peeves is wasting food. Yet time and time again, as I clean out our fridge, I find spoiled takeaways or other foodstuff lodged in the back, forgotten and happily rotting away. Eeeew.

The usual suspects are takeaways because it seems as if the moment we stick them inside the ref, we forget that we ever brought them home. But surprisingly enough, pizza never ever goes bad in our house, which just goes to show what our favorite food is:p

Anyway, I've been mulling over how to prevent any more food wastage from happening and found my solution with IHeart Organizing's freezer inventory system. The system I devised is way simpler though and my printable is not as pretty, but it gets the job done. So far, I have limited my refrigerator list to takeaways and leftovers, and use a simple In and Out method to track food.

Saturday, February 2, 2013

Investing in Luxury (Part Two)





I tried very hard not to be smug, but while reading this article on designer bags* in the Inquirer, I couldn't help but say: "I told you so!" and then smirk. Yes, I can be a little smug SOB (DOB?) when I feel like it.


Investing in Luxury (Part Two)


I tried very hard not to be smug, but while reading this article on designer bags* in the Inquirer, I couldn't help but say: "I told you so!" and then smirk. Yes, I can be a little smug SOB (DOB?) when I feel like it.