I hear people saying that living only on 70% of their income is completely ridiculous. Impossible. Crazy.
But you won’t see them cutting down their spending on cigarettes, liquor, partying, gourmet food, expensive coffee, and a whole lot of lovin’.
For those who don’t believe in the Power of Compounded Interest, let’s check how much you wasted when you purchased the following things from 2011 to 2012. Continue reading Congratulations, You Just Wasted Your Money
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If you rely heavily on the interest of your Savings or Time deposits accounts to grow your money for your future, think again. Those deposit accounts earn only 2.75% or less in a year. Corresponding taxes and bank charges will also be charged if you withdraw your cash. Plus, your money is like a sumptuous meal being devoured by the creepy inflation rate of around 3.6%. Your money simply loses its value and its purchasing power.
With the Philippine economy rising in unprecedented heights, you may think twice before remitting your dollars back home and let them rot in your deposit accounts.
But where will you put your money for it to grow from 8% to 15% annually if you don’t know anything about investments?
If you are a person who don’t have any idea or background about the stock market, mutual funds, or fixed income securities, you may need to find a suitable plan and an investment vehicle for you. Continue reading What’s Money Tree?