Today is a good generation to save and invest. The financial world is continuously evolving and young professionals like you can easily catch up with this advancement. Given that there are several ways on how to save and invest now, you shouldn’t be hesitant to save up for your future. Don’t waste the time and intellect you have. And if you are still learning the investment system in the country, I am going to share with you some money skills to expedite the process of your learning.
Catch me in my live training events! (quick plug)
The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more on how you could time the market checkout the trainings below.
Stock Smarts Cebu — April 6 & 7, 2019
Investing Insights Japan – April 13, 2019
Stock Smarts Singapore — May 18 & 19, 2019
Investment Conference 2019 – May 25, 2019
Stock Smarts Manila — June 15, 16, 22, 23, & 29, 2019
Stock Smarts Iloilo – July 6 & 7, 2019
Stock Smarts Cagayan De Oro – July 20 & 21, 2019
Stock Smarts Hong Kong – August 11, 2019
Stock Smarts UAE – August 30 – September 3, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Taiwan – November 2, 2019
The most important money skill a millennial should have is a right mindset. People are not born with it.It is something that can be learned throughout time. Having a right mindset means being able to decide what’s good for your financial security. Don’t buy the things you don’t need. Don’t spend everything in your pockets because the depreciating goods that you will buy won’t have a value later on.
Money loses value if you don’t buy an asset. If you think money is the greatest asset in this society, time will prove you otherwise. You should always remember that time is the most essential factor in investing. If you would lose your money today on things that will not matter in the future, it’s just a waste of time and effort. As young professional who have so much time, focus on buying something that appreciates. Use your money on something that creates value.
Don’t get yourself into debt just to buy the things you want today. It’s not bad to spend on gadgets, bags, laptops, shoes, etc. But one thing you should learn to do is buying those stuff when you have sufficient cash. Don’t ever think of borrowing or using your credit cards to purchase something that you know you can’t afford.
A budget plan may seem negative because it limits your expenses but that’s not always the case. Rather, it is a plan for you to go about your spending and manage your financial life. Think of it as a priority system that says “probably not now”. Make a written plan of your budget so you can track the things that you can afford to buy now.
Savings position you to something good. Learning to save is one mandatory money skill especially now the value of goods is increasing. Think of it this way–if you have P1,000 pesos today and you want a pair of shoes that cost P2,000, are you financially ready to buy it? Considering the cash you’re holding, you’re not ready yet. But if you save that P1,000 to add up to your P1,000 budget next month, you will reach the P2,000. You will be able to buy your favorite shoes then.