Nov 7, 2008
One, I think it's not wise to save and invest when you are still in debt. I think it's more prudent if you clear yourself off of any liability first. Baka kasi yung interest ng investment mo e katumbas lang ng interest ng utang mo, nagwoworry ka pa. Or worse, mas mababa pa ang interest ng investment mo, nadagdagan pa utang mo. 
Second, again it’s more sensible to have some bank savings that would cover at least a few months of your needs. Just in case you lose your job hehe. Besides a bank account is a form of investment, easily accessible (in case of immediate money need), low risk with a predictable return. This should form the foundation of your money-making strategy. But if your question is if you can buy shares from banks offering MFs or UITFs even if you don't have an account with them yet, the answer is yes (at least with some banks, not really sure though, just ask). But better if you have, so you can buy and redeem by simply transfering funds from and to your account.
Third, aside from checking and savings account, there are other forms of investment products, such as what you mentioned – bonds, balanced funds, stocks, real estate etc. But before you go into that, do 1 and 2 first. Then read (books, this forum) to learn more about these other products while doing just that.
I understand the excitement. But don't succumb to it just yet. It's not as easy as you think it is.
It's never too late. As to why financial literacy not included in curriculum, well, personally because I think there are other important things to learn aside from money matters. Not to mention, the latter would need some discipline and a lot of maturity.
Second, again it’s more sensible to have some bank savings that would cover at least a few months of your needs. Just in case you lose your job hehe. Besides a bank account is a form of investment, easily accessible (in case of immediate money need), low risk with a predictable return. This should form the foundation of your money-making strategy. But if your question is if you can buy shares from banks offering MFs or UITFs even if you don't have an account with them yet, the answer is yes (at least with some banks, not really sure though, just ask). But better if you have, so you can buy and redeem by simply transfering funds from and to your account.
Third, aside from checking and savings account, there are other forms of investment products, such as what you mentioned – bonds, balanced funds, stocks, real estate etc. But before you go into that, do 1 and 2 first. Then read (books, this forum) to learn more about these other products while doing just that.
I understand the excitement. But don't succumb to it just yet. It's not as easy as you think it is.
It's never too late. As to why financial literacy not included in curriculum, well, personally because I think there are other important things to learn aside from money matters. Not to mention, the latter would need some discipline and a lot of maturity.
No comments:
Post a Comment