It started way back in 2004 after 3 years of having my first employment. There was this seminar regarding money management and ways primarily on how to save-up for your retirement.
A lot of principles were actually taught starting from 'piso yan' principle, the value of tithing, the 70-20-10 principle, and the four questions. These were the principles I could clearly remember. I didn't indulge in all of the principles at once. In our family, I have not heard of anything related to investments whether it be from my parents or from my siblings or relatives. Most I can remember is to save and to save every peso you can. I don't blame them, maybe it was just the way of life passed on by generations. Put everything I save in a bank and then what? Perhaps, those were the reasons, why I postponed aggressive investing. I didn't really know where I'm heading. Financial freedom was non-existent yet.
Although in the same year, I decided to apply for an insurance. It was actually a pension plan from a pre-need company which will be discussed soon in another post. There is a lesson I got from this. In this blog, you will also see my, let me say, setbacks. But those will and should never let me down. Get up and take the learning with you.
I would like to mention that the seminar did not really put me to start investing but rather sparked me to focus first on seeing where my income is going. I prepared a monitoring file to outline my income and expenses on a daily and monthly basis. I just want to see whether there is still enough left for me to try investing. Frankly, I am really mindful of where do I spend my money. I don't feel the need to apply the principles just yet.
This is also what I want you to do. Start first by seeing how you are doing in terms of your income and expenses, then we could talk later regarding investing.
Keep following. If you want a file regarding income and expenses, contact me.
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