Investing Money — There are many reasons why I should invest money now. The money I will invest have the possibility to generate future purchasing power that will keep ahead of inflation and provide me a sense of financial security. With my investments, I believe I can achieve my financial goals for my different financial needs over different time horizons like paying for my two daughter’s education (from elemetary, high school and then to college), buying a land in Bohol (for farming), buying a house and lot or buying only the land and constructing a house (that we can call our own house when we settled down and live for good in my beloved province), and putting up scholarship fund I can used to finance scholarship grants to my relatives and extended relatives for them to get quality education.
But before that, I think the first and best way to start investing is by saving money. I need to pay my self first. Every time I receive my income from my online business (Thanks God, I found ways to make money online), I will deposit 70% of the $1K into my BPI Easy Saver Savings Account. This will be upgraded later on to Maxi-Saver Savings Account, for high interest savings account or Get Started Peso Savings Account, though not high yield savings account but provides FREE BPI-Philam Life insurance coverage equivalent to 5x my account’s balance, up to Php 2 million.
This is my monthly savings plan which will commence at the 30th of April 2011. Overtime, big or small amount of savings become substantial.
I’ve learnt lessons from attending BusinessCoach’s How to Invest in the Stock Market seminar last April 16, 2011 that by investing, I can make my savings grow or appreciate to achieve my long-term financial goals. Certainly, investing is the most effective way to build my personal wealth and secure my financial future.
My next step now is to stick to my savings plan and then find opportunities where to invest money.
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