First off
This is not my first attempt of creating a blog of the same theme. Actually I started out one just last month but for some reason, I lost/forgot my login credentials. I know, that's kinda stupid. My memory lapse had been frequent these days. But still, writing down my credentials would be much stupider. Anyway, let's leave it at that. Now on to regular programming. But first...
Who is "me"
I prefer to be anonymous. Maybe because I felt too accessible these days. You know what I mean. With the proliferation of online social networks and digital means to readily access "me", I think I'll pass on this one. Nevertheless, everything I write here would be much closer to what really I think, my personal adventures, and other things closer to my personal interest.
I'm a software developer currently working as a support engineer in a multinational company. 26 years old turning 27. Born and raised a "probinsyano".
What this blog is all about
For the past 5 years of my professional life, I have not been concerned about my financial future. I'm not sure if it was just me or it was a stupidity young professionals always make. Others (I've known a few) who have settled financially pretty much quickly. Some ventured into stocks, others do not mind the payday because they just leave the money in their bank accounts. And there are those who were paying premiums for their retirements and life insurances.
Two years ago, I've met an old schoolmate in Makati. At first I didn't recognize him behind those ridiculous beard and a pony-tailed long hair. But despite that, he's in his best executive look. We exchanged numbers, exchanged stories, and swore to add each other as Facebook friends. He's into moneymaking business. Not quite sure now the exact details but these days, he have held money talks around the Philippines, married and put up his own resort. How's that to add weight to my already dismal state?
I envy him. That's something I couldn't be proud of. But yes, questions popped out in my mind like why him and not me? We came from the same school together, graduated the same year and pretty damn sure I've got higher GPA. And then there's the answers of course. (1) I came from a poor family. Those past 5 years included a very steep journey of freeing my family from mounting debts, sending my brother to school and listening to pretty much every relative who needed help. (2) Because I felt deprive when I was still studying, I treated myself to things I never got. Cellphones, expensive out-of-town trips and the like.
Seriously , the idea of "I am poor, they're rich" is pretty much hard to shake off. And almost always, it has a destructive brother "There's nothing much we can do about it". It resulted to mounting credit card bills and zero savings.
And then there's a wake up call.Maybe a few loose screws in my head finally decided to fix themselves up, I came to my senses. I realized, hey maybe I started bad but that doesn't mean I have to endure the consequences because there's nothing I can do about it. In the first place, that was not me. I always have a positive outlook even in the darkest. I've had a few stories but I think it's irrelevant now.
And so I started out this Excel project. I started writing down all my liabilities (mainly credit card debts). And thought of options how I can I repay them. I write down my measly savings and thought of a way how to make money out of it.
Just then, things came opening up. I remembered my father (a retired soldier) talking about AFPSLAI. It was one of those times when you don't want to listen to your father especially when they're talking about government entities. But it was of this late I took a second look and realized a 15% annual, tax-free compounded interest maybe not a bad idea at all. Hell, many wanted to invest in AFPSLAI. But here I am, fully qualified, missing the opportunity.
And then, I have friends into stocks. And I'm now becoming more and more interested into mutual funds to the point that I am constantly monitoring NAVPS, the current state of the market, the Forex, the inflation and pretty much about everything Business.
It's a fresh new start for me. So this blog is not just about money per se. Hell, what I've learned so far is a fucking tip of the proverbial iceberg. If I had to enter into stocks right now, most probably I'd fall into losses - or not. This blog is all about my adventures into eliminating debt, into AFPSLAI, mutual funds and other instruments I maybe interested in. I may add bits about my personal life, my view on politics, or personalities. But basically I wanted to document my adventures into financial freedom or its evil twin - downfall.
What I've done so far
Last month, I've talked to my father over the phone regarding AFPSLAI. I've secured the membership requirements, send the form to Mindanao for my father's signature. I waited for the first week of April to finally visit the AFPSLAI head office in Camp Aguinaldo to pass the requirements. I choose April because deposits (they call it "placements") are only allowed every first three days of the quarter. I am anticipating, that once my membership is approved, I would be able to make my first placement and wait for my first interest compounded the next quarter.
But then everything's gone awry. First, the teller said that it's impossible to make a placement because after they verified my application, they had to schedule another day for another visit. And that's beyond the allowed date for placement. Though a little frustrated, I just consoled myself that July is not too far off. So okay, no big deal. Or so I thought. The teller then found out that my father's signature was different from their specimen signature. That's when I felt shit hitting me.
So, I called my father. He then updated his signature in his local AFPSLAI branch that very day. The paper specimen signature arrived in Pagadian the next day. The specimen signature was updated on their system on the second day. I was then scheduled for a second visit this 15th but I had to ask a new employment certificate because the date is not correct. Damn, the universe is messing up with me big time. Hopefully, all's well come Thursday.
So the next placement is on the first 3 working days of July and I'm becoming impatient. Instead of my little money dormantly sitting in the bank, it already could have earned interest. And so I've decided to finally buy shares in a mutual fund this next week. Initially, I'm eying on this three top performing equity funds
I don't know if the coming elections could have negative impact but I'm taking the risk. I have initial talks with ATR and I am now willing to pour what little savings I have to them. Again hopefully, everything will turn out well.
What this blog is not
If you might have realized by now, I'm no money expert. In fact, I might be the opposite. I was just barely starting, if I had started at all. If I talk about investing instrument ideas and concepts, that's from my own personal learning and of what I understand from other resources, and mostly only applicable in the Philippines.
I do not, in any way, promote any investment instrument or the current state of the economy. The internet is flooded with such information
Lastly
It's very important to learn the art of saving. It's a basic thing. After all, financial planning is futile if saving is not part of the equation.I bet we all knew that. But to really apply the idea is, in some cases, pretty much difficult, given the individual financial conditions we all have. I could attest to that. But simply embracing the idea of "saving for the future" itself is equally futile. The future is unknown. They are the blank pages of our respective books. How can we save for something we're not even aware of what's in there for us. Here enters probably the most important lesson in financial planning - to have a goal. We don't aim at nothing. Saving is a very boring hobby if we don't see vividly what we wanted.
If I say I want to be rich, I'll be losing hope because that's way far off.
I want to drive my own car. That's better.
I want to have 100,000 by the end of the year. Much better.
Who is "me"
I prefer to be anonymous. Maybe because I felt too accessible these days. You know what I mean. With the proliferation of online social networks and digital means to readily access "me", I think I'll pass on this one. Nevertheless, everything I write here would be much closer to what really I think, my personal adventures, and other things closer to my personal interest.
I'm a software developer currently working as a support engineer in a multinational company. 26 years old turning 27. Born and raised a "probinsyano".
What this blog is all about
For the past 5 years of my professional life, I have not been concerned about my financial future. I'm not sure if it was just me or it was a stupidity young professionals always make. Others (I've known a few) who have settled financially pretty much quickly. Some ventured into stocks, others do not mind the payday because they just leave the money in their bank accounts. And there are those who were paying premiums for their retirements and life insurances.
Two years ago, I've met an old schoolmate in Makati. At first I didn't recognize him behind those ridiculous beard and a pony-tailed long hair. But despite that, he's in his best executive look. We exchanged numbers, exchanged stories, and swore to add each other as Facebook friends. He's into moneymaking business. Not quite sure now the exact details but these days, he have held money talks around the Philippines, married and put up his own resort. How's that to add weight to my already dismal state?
I envy him. That's something I couldn't be proud of. But yes, questions popped out in my mind like why him and not me? We came from the same school together, graduated the same year and pretty damn sure I've got higher GPA. And then there's the answers of course. (1) I came from a poor family. Those past 5 years included a very steep journey of freeing my family from mounting debts, sending my brother to school and listening to pretty much every relative who needed help. (2) Because I felt deprive when I was still studying, I treated myself to things I never got. Cellphones, expensive out-of-town trips and the like.
Seriously , the idea of "I am poor, they're rich" is pretty much hard to shake off. And almost always, it has a destructive brother "There's nothing much we can do about it". It resulted to mounting credit card bills and zero savings.
And then there's a wake up call.Maybe a few loose screws in my head finally decided to fix themselves up, I came to my senses. I realized, hey maybe I started bad but that doesn't mean I have to endure the consequences because there's nothing I can do about it. In the first place, that was not me. I always have a positive outlook even in the darkest. I've had a few stories but I think it's irrelevant now.
And so I started out this Excel project. I started writing down all my liabilities (mainly credit card debts). And thought of options how I can I repay them. I write down my measly savings and thought of a way how to make money out of it.
Just then, things came opening up. I remembered my father (a retired soldier) talking about AFPSLAI. It was one of those times when you don't want to listen to your father especially when they're talking about government entities. But it was of this late I took a second look and realized a 15% annual, tax-free compounded interest maybe not a bad idea at all. Hell, many wanted to invest in AFPSLAI. But here I am, fully qualified, missing the opportunity.
And then, I have friends into stocks. And I'm now becoming more and more interested into mutual funds to the point that I am constantly monitoring NAVPS, the current state of the market, the Forex, the inflation and pretty much about everything Business.
It's a fresh new start for me. So this blog is not just about money per se. Hell, what I've learned so far is a fucking tip of the proverbial iceberg. If I had to enter into stocks right now, most probably I'd fall into losses - or not. This blog is all about my adventures into eliminating debt, into AFPSLAI, mutual funds and other instruments I maybe interested in. I may add bits about my personal life, my view on politics, or personalities. But basically I wanted to document my adventures into financial freedom or its evil twin - downfall.
What I've done so far
Last month, I've talked to my father over the phone regarding AFPSLAI. I've secured the membership requirements, send the form to Mindanao for my father's signature. I waited for the first week of April to finally visit the AFPSLAI head office in Camp Aguinaldo to pass the requirements. I choose April because deposits (they call it "placements") are only allowed every first three days of the quarter. I am anticipating, that once my membership is approved, I would be able to make my first placement and wait for my first interest compounded the next quarter.
But then everything's gone awry. First, the teller said that it's impossible to make a placement because after they verified my application, they had to schedule another day for another visit. And that's beyond the allowed date for placement. Though a little frustrated, I just consoled myself that July is not too far off. So okay, no big deal. Or so I thought. The teller then found out that my father's signature was different from their specimen signature. That's when I felt shit hitting me.
So, I called my father. He then updated his signature in his local AFPSLAI branch that very day. The paper specimen signature arrived in Pagadian the next day. The specimen signature was updated on their system on the second day. I was then scheduled for a second visit this 15th but I had to ask a new employment certificate because the date is not correct. Damn, the universe is messing up with me big time. Hopefully, all's well come Thursday.
So the next placement is on the first 3 working days of July and I'm becoming impatient. Instead of my little money dormantly sitting in the bank, it already could have earned interest. And so I've decided to finally buy shares in a mutual fund this next week. Initially, I'm eying on this three top performing equity funds
- ATR KimEng Equity Opportunity Fund
- Philam Strategic Growth Fund
- Philequity Fund
I don't know if the coming elections could have negative impact but I'm taking the risk. I have initial talks with ATR and I am now willing to pour what little savings I have to them. Again hopefully, everything will turn out well.
What this blog is not
If you might have realized by now, I'm no money expert. In fact, I might be the opposite. I was just barely starting, if I had started at all. If I talk about investing instrument ideas and concepts, that's from my own personal learning and of what I understand from other resources, and mostly only applicable in the Philippines.
I do not, in any way, promote any investment instrument or the current state of the economy. The internet is flooded with such information
Lastly
It's very important to learn the art of saving. It's a basic thing. After all, financial planning is futile if saving is not part of the equation.I bet we all knew that. But to really apply the idea is, in some cases, pretty much difficult, given the individual financial conditions we all have. I could attest to that. But simply embracing the idea of "saving for the future" itself is equally futile. The future is unknown. They are the blank pages of our respective books. How can we save for something we're not even aware of what's in there for us. Here enters probably the most important lesson in financial planning - to have a goal. We don't aim at nothing. Saving is a very boring hobby if we don't see vividly what we wanted.
If I say I want to be rich, I'll be losing hope because that's way far off.
I want to drive my own car. That's better.
I want to have 100,000 by the end of the year. Much better.
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