This factor is why a lot of Filipinos are afraid of the word “Investment”. It sounds so foreign for someone who really have zero knowledge about what investing truly means. The worry too much for the term at some point creates the possibility of losing your money. Are you afraid to invest? Then here’ a great post you can reflect that will teach you how to worry-free invest here in the Philippines.
Be Informed. Reading this post is only the first step to many. Continue gaining knowledge from other blogs and even financial books available in bookstores near you. Gaining details and secrets to financial literature will help you become braver and worry-free as you start investing.
Have an Emergency Fund. An emergency fund is said to be equal to 3 months of your daily expenses. This means when your monthly expenses is 10,000 a month, your emergency fund should have 30,000 pesos. An emergency fund is a secure way for you not to be fearsome even if you lose some amount. Remember that investing is a risk. This Emergency Fund will be your fall back if and then anything happens beyond your control.
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Study your Investment venture. Investing is not an overnight decision. You should think a lot no matter what. Review the investment company and know whether they have bad records. In the Philippines FAMI and COL are top of the line when it comes to investing in stocks. (Read here for a comparison between the two. FAMI vs. COL)
Learn from the Expert and Experienced. Of course reading blogs and financial books are great tools of knowledge but there’s something about personal appearance and communication that makes you want to learn more. Attend financial seminars or you can invite me to join YOU with your friends in FREE Financial Seminar. I will even prepare slides, laptop and hand-outs for this. Just make sure you’ll be there (and hopefully you are not alone!J)
Know that God wants you to be financially blessed.God’s plan is for us to prosper not to put us in harm. Know that God wants us to be successful with the talents and gift He had gave us. The past article on How to be Financially Blessed will help you understand better why I included this as part on how to start investing worry-free here in the Philippines. Click HERE.
Remember to take time before you decide to start investing. It is your money first and foremost and whatever happens to it may affect you and your family greatly. Make sure that you understand very well the consequences of the investment vehicle you chose to ride. Always include a escape plan in your actions for as always, investing is a risk.