Tag: personal finance

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Spending Vs. Saving

Recently, I’ve been obsessed about saving. Instead of spending my entire weekly allowance, I’d make it a point to save each week. Like last week, for instance, I saved a total of P565. Funny but I felt very accomplished as I counted the money left in my wallet one by one. Haha.

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Spending and saving are broad topics. They have always been a part of discussions on money management and personal finance in general. We spend mindfully and sometimes, mindlessly. We, however, tend to forget about saving.

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Some Frugal Living Tips

“Living frugally allows you to live richly in ways that you choose.” ~Anonymous

2014 turned out to be a very positive and enlightening year for the hubby and me. It was the time when we took our finances more seriously. We started investing directly in the stock market in July and when November came, we opened a UITF account at a local bank.

While modifying our allocations for this month’s budget in my desktop, I thought about sharing some frugal living tips here in the blog. These are practices that the hubby and I try to do consistently to save money and live a simple but fun married life.

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Choosing BDO Peso Balanced Fund (BDOPBAL)

Last Tuesday, the day after we received our Christmas bonus, the hubby and I realized another financial goal. Along with my sister Jodie, we opened a Peso Balanced Fund with Banco de Oro (BDO). It’s one of their Unit Investment Trust Fund (UITF) offerings. Our branch of choice was the one nearest to our place, SM Manila. Slowly but surely, this little investment, along with our other ones, will grow. We are already claiming it!

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It was quite easy to sign up. I just brought two valid IDs and that’s it. (We have decided to put this account under my name for easy monitoring.) Oh wait, another requirement is having a savings account with BDO which I do have. Anyway, the account officer had me fill up an application form and a signature specimen form. She also had me answer a Client Suitability Assessment (CSA) form to find out what type of investor I am and if the product I was eyeing suited me. She also took a photo of me through a camera attached to her PC (no need to bring 1×1 pics!). Then I handed my initial investment and I was issued an official receipt. I got the Certificate of Participation (COP) after three days.

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Road to Financial Freedom: A Constant Practice in Patience

When I’m committed to doing something, I can get very impatient. In my quest for financial freedom, for instance, I can’t wait to achieve my financial goals. I think I’ve had an overdose of personal finance articles and blogs online because I suddenly had this urge to open new investment accounts right away. But of course, it’s impossible for me to do so due to insufficient funds at present.

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I’ve never been good at this! (Image Source: http://avidinvestorgroup.com)

Talking to self: Slow down, Edel! Breathe. Inhale, exhale. You can’t do everything at the same time. You have to wait for your money to arrive, unless you can make money appear by magic. Remember, patience is key here. And a lot of thinking and re-thinking. You don’t just invest your money in one instrument just because you learned from somebody it’s a good investment. You have to do your own research, decide based on your needs and future plans, prepare your money and invest at the right time.

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