Posted in Money & Investment

Side Hustles and Making Money

Growing up in a middle class family, I sometimes yearn to be able to travel, buy stuff I want and be comfortable.  I would usually compare myself to my cousins who were better off than we are and find myself lacking.  Then, I would dream of graduating from university, finding a job and earning my own money. 

However, there’s one lesson my dad would always tell us.  “Be your own boss and don’t be an employee”.  With that in mind, I planned to find a job and a side hustle to generate more money.  It’s not what the lesson was but it was a step towards financial independence.

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Posted in Money & Investment

To Be Insured Or Not?

In one of the financial stewardship class I’ve attended a few years ago, the speaker mentioned that it’s important to get a life insurance.  This will enable you to leave a legacy to your loved one when you move on to the next great adventure.

For some people, however, they said that life insurance or any type of insurance is not for them.  A friend of the family said that she could put the money into good use in their business.  Others shy away from insurance because of the additional cost that won’t benefit them.

So.. what is life insurance?  Do we really need it or not?  While scouting the web, google pointed me to a website where it explained to me what life insurance is.  In short, it explained that life insurance is a financial instrument that is based on caring and love. (Sounds cheesy!)  However, it goes beyond that as the website provide educational video to assist you in understanding more about life insurance.

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Posted in Money & Investment

Dummies Guide to Credit Crisis Lingo

subprime_mortgages If you’re like an average joe with little to no background in finance, news about recession and bankruptcy will scare and make you panic. My friend, Lala Rimando, business editor of Newsbreak Magazine, came out with this dummies guide to help you understand the credit crisis lingo.

Article from http://www.abs-cbnnews.com/business/09/26/08/what-subprime-dummies-guide-credit-crisis-lingo; Photo from http://politicalhumor.about.com

With financial jargons leaping from business pages to front page headlines, here’s a guide to understanding the current US financial crisis better.

SUBPRIME or SUBPRIME MORTGAGES

Simply put, they are called subprime since they are below prime status. These are loans lent to borrowers who, as some put it, are considered “NINJA” (no income, no job, no assets). In other words, high risk borrowers: they have tainted credit history or cannot prove their incomes.

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Posted in Money & Investment

Gloom and Doom – Recession 2?

I just arrived this morning from Rome via Moscow and I still lack sleep.  Two weeks ago, my dad was insisting I shouldn’t push through with my trip and just save my money.  However, I turned the blind eye and went through with it when I got my visa.  The trip was educational, enlightening and an eye-opener.  It’s true that you learn more of the world when you travel.

When I logged on to my PC this morning, my friend who’s a business journalist in the Philippines was also online.  So, I asked her what advice can she give me during this time of crisis?  She said, save save save!  Hold on to your cash.  It seems like the forecast in the near future is gloomy.  Prices are going up but our salary can’t match its pace.

If I want to achieve my goal in 3 years time, I better start to plan how to do it.  If I need to learn a hobby and make money out of it, I probably should do so.  But.. does our life really revolve around money?  Shouldn’t we trust in God to provide for our needs?  I’d probably need to contemplate some more.  Right now, I can’t wait for the clock to hit 6pm and go home.

Posted in Money & Investment

How Much Do I Need To Invest Again?

I’ve been reading some news on inquirer.net when I happen to glance an article in their money smarts blog entitled “How much to invest for the long haul?” It says there that according to the rule of thumb in the Asian Wall Street Journal’s “Lifetime Guide to Money”, we should subtract our age from 100 and add a percentage sign.

When I read it, I had to exclaim “WHAT?!” I thought I was doing great already but it seems like in order for me to retire comfortably I have to do more. What shall I do?? I’ve been saving money but I guess it’s not enough. 😦

To top it all, my travel buddy Marco and I are planning our European Tour. We will be submitting our visa application this Wednesday and hopefully we will get our visa. If it pushes through, I will have to scrimp in the next couple of months in order to recuperate the cost of this trip. Oh well.. I’m willing to do that as I’ve already bought some Christmas gifts already. That means I won’t be able to go home for my cousin’s wedding. 😦