Well, the answer to that question is: absolutely not. While we’re all panicking on the sustained increase of prices of goods and services in the country, as consumers, the best thing to do is beat inflation by having other means of income. Currently, as of September, inflation stands at 6.7%. If the prices of goods and services have increased by that percent, then it’s best to earn an additional income of that rate or even greater.
Having an increased inflation rate doesn’t have to mean it’s the end of the world. This is only a temporary difficulty of our economy. The BSP is doing what it can to control everything. Also, the good news is, you can still beat inflation! How, you ask? Keep on reading.
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 — October 27 – 28, 2018
Stock Smarts Taiwan – November 3
Stock Smarts Davao — November 10 – 11, 2018
Stock Smarts Dubai — November 16 – 20, 2018
Stock Smarts Singapore — November 28 – December 2, 2018
Stock Smarts Manila — November 24, 25, December 8, 9 & 15
Top 10 Stocks for 2019 — December 15, 2018
There are actually plenty of ways to beat inflation but in this article, we’ll limit ourselves to four (4) general options. The reason being is that these two choices can be done by working and non-working individuals.
As mentioned above, to beat inflation, you need to earn more than that of what you’re actually earning and in order for you to earn more, you need to:
If you’re employed, congratulations because you only need to catch up less and if you’re unemployed and dependent, don’t worry, it’s never too late. To combat inflation, try getting a sideline. This means having another source of income than what you already have. You can use the talent that you have or skills you’ve developed over time. This can range from having a singing gig at a party to landscaping. It can be anything that you’re interested in.
For those who don’t want to go out or do hard labor, you have an alternative of working at home and this means doing online business. You can start from scratch like making your own company or you can try selling in established online selling platforms such as Lazada or Shoppee. You can sell products there and the platform is seller friendly. It’s one good way to earn extra cash.
Also, for those who are aching to start or continue investing, the following are the best options or market to enter into:
There are a lot of players in the real estate who are quite successful and you don’t necessarily need to have a license to start. You can be a middleman for the buyer and seller or you can scout for real estate properties which you can sell to interested persons. Yes, it will be a little costly to start but the profit is good. All you have to do then is invest in a good network of friends.
A lot of people are sceptical when it comes to investing in market securities because of its alleged complexity. First of all, it’s not too complex and you just need to learn the basics in order to start making profit. Second, there are a lot of stock brokers out there offering low initial investment amount. So, there’s practically no reason why you shouldn’t start stock market investing.