Why is it when someone talks about managing your own money, only a few are interested

[lorenzoleo]

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Let just not talk about it! we have to do something about it! Anyone who would like to be an advocate?Has the passion of helping people lives?

Yes, Filipinoes must be Financially intelligent to determine a scam from a legitimate investments.

[agent_sky]

they learn from their mistakes.. that's why their hesitant.. wise nana sila karun mao na lisod na pasabton kasagaran.. hehehe

[leo_trams]

I have spare 1000pesos, how should I manage it?


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[cyraxx]

I have spare 1000pesos, how should I manage it?


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Interesting Any takers?

[jackdi]

I have spare 1000pesos, how should I manage it?
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Id like to answer this.
Pero gusto ko makabasa sa tubag ni TS.

[makie]

Everybody wants to be successful yet only a very few are willing to pay the price to be successful. So for the question why most people aren't interested in managing their own money, it has something to do with [1] discipline and sacrifice and [2] being cautious.

[1] Discipline. People are wired to spend. If we notice, people save to spend. A lot of people save money for vacation, to buy a new car, a new house and lot. When we were still kids, we are trained that way. We are told to save to buy something later on but were we taught to save to make money grow? I believe that less than 5% of the population or even less were taught that.

It's quite ironic that people save to purchase their wants but overlooked the need to invest for their health and retirement. People never look long term but rather, they want instant satisfaction. Investments are such a pain in the @$$ for them and comes up with very ridiculous excuses that "money is evil".

[2] Being cautious. For people who values their money too much, they are just being too cautious. They don't want their hard earned money go to waste. Scams are just springing up everywhere and companies that seem to be so stable goes for a nose dive sooner or later (talking about CAP).

People don't just put their money to someone or company that they don't know. Too good to be true isn't true.

People have different principles when it comes to money. Some think short term, some value it too much, and only a very few looks long term and knows what to do with it to get great results. So if people don't respond positively towards managing their money, they just don't think the way that we do.

[leo_trams]

I saved to invest...now I have 1000pesos, this is hard earned money...where will I invest it?


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[Metz]

I saved to invest...now I have 1000pesos, this is hard earned money...where will I invest it?


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right now bai all I can think about is find a small personal business for faster returns like cellphone load.
thats what I did.

if moabot na na ug 5k, you can open a mutual fund with it, but I still think mas faster ang cellphone load biz. but if you get tired with it then park it sa mutual fund lang sa while waiting for another opportunity with faster returns.

[c0mpumast3r]

I have spare 1000pesos, how should I manage it?

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@leo_trams

It's actually your decision because its your money. We are only here to suggest what's best for you BUT always remember that the decision is still in YOUR HANDS.

I would recommend that you attend first the Financial Literacy program offered by IMG.

To answer your question, as what I have said, there is a good Financial foundation that IMG recommends.

These are:
1] Increase your cash flow
2] Manage Debt
3] Life and Health Protection
4] Emergency Funds
5] Invest

So, it would be better to increase your cash flow first (thru business - like Metz's suggestion, freelance, sideline, "living within your means", etc.) and manage your debt. And, if you have already have done that (with discipline) and can already spare 1000 or 1k++ pesos every month in a span of 5 - 10 (or more) years, why not SAVE and INVEST it in mutual funds? or why not ensure your health or life first? Please be reminded that you can already open a mutual fund account when you have 5k in hand and the minimum investment after opening is 1k pesos. Or, in life and health insurance, you can already open an account depending on the type of your plan.

If you think you want to learn more, I would again invite you to attend IMG's Financial Literacy program every Tuesday and Thursday 7-8pm and Saturdays 2-3pm. Just be there 30 minutes before the time.

By the way, did I answer your question?

[c0mpumast3r]

Thanks for all your inputs guys.