Personal Finance Archives - Page 8 of 10

July 23, 2014

Investing in the Stock Market, Finally!

Some people choose to invest in the bank. Some people choose to invest in real estate. Some people choose to invest in life insurance. Some people choose not to invest in anything. Last Monday, I chose to invest in the stock market. It took me a year before doing so but now that I finally did, I only have high hopes and aspirations.

I decided to invest in the stock market directly through COL Financial (www.colfinancial.com), an online broker. This way, I get to have more control over my money and less fees to pay as compared to when I invest in the stock market indirectly through mutual funds. Just to be clear, I have nothing against people who invest in mutual funds. I even think they have an edge because their money is managed by financial experts. I just prefer an online broker over a traditional broker, that’s all. Plus, I like the accessibility and convenience it gives me.

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July 11, 2014

Additional Credit Limit from Citibank

Just the other day, I received an email from Citibank informing me that my credit limit has been increased once again. From P55,000, it’s now P80,000. Again, I didn’t ask for it, they just willingly gave it to me like in my previous line increase. Was it because I’m a responsible cardholder now? Yes, probably. Or maybe, they just want to lure me into spending more. Well, good luck to them because that won’t happen!

email excerpt from Citibank

Ever since I became credit card debt-free, I’ve been paying my credit card dues in full. After learning the hard way how credit card companies make money, I started to take my credit card spending seriously. I want to give them as little profit as possible by being a responsible cardholder now.

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July 3, 2014

No to Mindless Spending

Aside from cutting back on my expenses to save more money, I took on the challenge of a shopping fast because I wanted to say no to mindless spending. I can be the worst impulsive shopper if I want to, you know. But I realized it would just lead me to nowhere in my journey to financial freedom, so I decided to stop.

We all have an imaginary (sometimes physical) list of things we want to acquire or have. It could be a designer bag, a set of expensive jewelry, a piece of modern furniture, a hi-tech gadget, or a trendy home appliance. Mindless spending, or in this case, shopping, happens when we suddenly come face to face with a particular item in our so-called “list.” Normally, such item is hard to come by that when we chance upon it, the tendency is we buy it right away without second thoughts for fear that such an opportunity won’t present itself again. It’s like a moment of destiny when the universe conspires to make things happen for us. I’m telling you, I’ve experienced it a lot of times and the impulsive shopper in me always won.

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June 10, 2014

Emergency Fund: What, Why, and Where

Emergency fund is money set aside for use in cases when you suddenly have to spend on something very important or urgent. It could be anything from job loss, sickness, and unforeseen expense. Actually, you can recognize it easily when you experience it.

Emergency fund, or funds for that matter, should be accessible any time the need for it arises. Personally, I had been aware of the concept of emergency fund during my high school years and I got to build up my own only when I got my first job. I didn’t take it too seriously then. As long as I had some money in my savings account, I thought I was okay.

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March 28, 2014

Online Garage Sale

I’ve talked about earning money by selling pre-loved stuff before. Recently, my superfriend Nice had thought of putting up an online garage sale and I liked the idea. I asked her if I could include some of my items in it and she agreed. Cool.

As of now, I only have two items up for sale in her All-Must-Go Online Garage Sale: a Canon 1000D and a Play Station 3. If you’re interested, they’re priced at just P12, 500 each only. Both are still in very good condition and knowing the hubby who’s very neat and careful with his stuff, you can be assured that what you are buying have been well-maintained and more importantly, well-loved.

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March 10, 2014

How I Became Credit Card Debt-Free

I dream of the time when I won’t have to use my credit card anymore. I dream of the time when I can just use my ATM or debit card to pay for my purchases. I dream for that time to come soon! Right now, I still depend on my one and only credit card (I used to have three) for when I travel (for plane tickets and hotel accommodations), shop (for big, expensive items only) and dine out (occasionally).

On a related note, I’m very glad about the recent development in my credit card use. I am now credit card debt-free! Yes, you read that right. And I plan to make it for good. This means no more impulsive shopping for me. This means no more shopping when financial blessings are about to be received (hello bonuses!) or when expecting that extra income from my side jobs.

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