Do you want to Make Money and Grow Money?

YES, I want it!


By: Marvin Germo | December 31, 2018

The Power of Now

It’s almost the start of a new year and it is a common tradition for people to include in their New Year’s resolution “to start saving money”. But what does it truly take to start saving money? In this article, I’ll be giving my top 5 practical saving tips for people who are already earning but can’t seem to get the most out of their pay.

Before we get into detail, we should first address what needs fixing and that is our mindset towards saving. A lot, if not most, people view saving as something that’s an obligation or in fact a punishment, but this should not be the case. In order to fully get into the spirit of saving, one must perceive it as a reward or preparation for a future endeavor which is financial freedom. Given this, the power of now has a significant impact in our future. If you want to save, do it now. An important concept to consider is the time value of money.

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 Qatar —  February 5 – 10, 2019
Stock Smarts Manila —  March 9, 10, 16, 17 & 23, 2019
Stock Smarts Cebu —  April 6 & 7, 2019
Stock Smarts Singapore —  May 11 & 12, 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 Taiwan – November 2, 2019

One big mistake when it comes to saving is that people have no specific goal in mind. Whether or not it’s as simple as buying a car to growing a diversified portfolio, you should be able to assess your personal goals. What am I saving up for? When am I possibly going to use it? These questions will help you determine how much money you should allocate in order to reach that goal of yours. Be specific such as: “save for a P5,000.00 weekly grocery”, “save for a brand new D-max car”, “save P20,000.00 for my 2nd semester law degree tuition”.

Once you have your specific goal ready, it’s now time to get into the important part of saving – the method you’re going to use in order to reach your goal(s). If there’s a concept being repeated in finance, it’s that you need to pay yourself first. What does this mean? It means that before you do anything with your pay, allocate a specific amount of money that needs to be kept or saved. It can be a specific amount of cash or a percentage of your monthly income. This method prioritizes saving money and it’s actually an effective method.

Get rid of those unnecessary subscriptions and shopping applications on your phone. Ask yourself: Do I really need this? If this was to be eliminated in my life, can I still go on and live by life? If it’s something you really need, choose a cheaper alternative. Look for other options which you can save cash.

Tip #4: Make Your Lifestyle Simple

You know what they say, the simpler the better. This is indeed true especially when it comes to saving money. It may not be obvious but our lifestyle determines the amount of money that we get to save at the end of the day. If you want to save more cash, think of foregoing some things like partying or going out to eat. The important thing to consider is also moderation. You can splurge on some things once in a while as a reward.

Tip #5: Invest What You’ve Saved

Out of all the tips, this one is the most important. And this is to invest what you’ve saved. Why? We want to let our money grow! The concept of compounding comes into mind. Because of the power of compounding, we’re able to save again the money we originally put plus earnings.

I’m excited to share my 5th book overall and the 4th book in the Stock Smarts series, Stock Smarts: Breaking the Resistance – How to time your traders perfectly. The heart of this book is to teach you strategic ways on how to come in and buy and sell stocks in a way where you come as the market is headed up and come out as the market is headed down. The book is now out and exclusive via Marvin Germo Book Orders.
For more details and to order my other books: Marvin Germo Book Orders
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