BASIC FINANCE FOR MILLENIALS

START RIGHT!
BUILD A STRONG FOUNDATION IN AN EARLY STAGE.

(Disclaimer: The things I'm sharing now are from the books I've read and seminars I've attended. Just to clarify I am not an expert, I just want to share what I've learned. (NO HATE GUYS, JUST LOVE)

FINANCE - management of a supply of money
1. TIME IS GOLD - SPEND IT WISELY. 

This stage in your life is the best time to start EDUCATING YOURSELF. Learn from your past mistakes and also learn from the people around you.

Think of this: 

I know at this stage, andyan yung mga barkada na lagi nagaaya ng night out, labas dito, inom doon and kinabukasan pag may hangover mapapashit na lang tayo at sasabihing di na uulit. Hanggang sa maging cycle na,di na uulit pero ulit-ulit pa din and what will you gain in that cycle? Probably disease  and also utang kung puro gimik na lang lagi. Think of all the time you could have spend trying to improve yourself. Remember in life you are either growing or dying. SO STRIVE TO BE BETTER EVERYDAY!

Another one to ponder 🤔
Do you model the people around you? Di nagtapos si tatay ok lang naman pala maging tambay, and so ginaya mo si tatay mo without thinking that times change. (Pero for sure si satay pinipilit ka magaral) Na sa panahon nila hirap talaga makapagaral. Tapos ginaya mo tatay mo and ganun na nga naging kagaya ka nya. Hanggang dun na lang ba yun? Sayang lahat ng potentials mo! Think of your future! Sabi nga do something today that your future self will thank you for. 

ALWAYS ALWAYS EDUCATE YOURSELF. KNOWLEDGE IS THE BEST THING YOU CAN HAVE. 

2. SPEND LESS AND EARN MORE.
Know how to budget. Track all the ins and outs ut.
When I started getting pay check I have these lot of things I want to buy. I want to buy this and that. I want to try this and that. I want to eat here and there. And so ubos sahod kada buwan. Laging gipit. Dahil nga continuous cycle lang I thought bat ganun. What can I do para di na maulit yun?

And so my solution is: INCOME - SAVINGS = EXPENSES
I pay myself first. I set aside a specific amount para sa future self ko. So yung natitira na lang for my expenses ang ibabudget ko. If I still want to eat out or treat myself I still can do as long as pasok sa budget.

PS: I'M A BELIEVER NA YOU CAN GET ANYTHING YOU WANT IN LIFE. This is to say na if you want more, you better work more. Gusto mo magtravel and at the same time makapagsave then EARN MORE para ma afford mo. EARN MORE by doing side jobs or adding another source of income.


3. SAVE FOR THE RAINY DAYS.
You should know by now that life is unpredictable. So you better save at least 3 - 6 months of your expenses for the just in case events. Better be an ant who saves  during the sunny days.

IKANGA 'KAPAG MAY ISINUKSOK MAY MADUDUKOT' (Nu daw? Hahaha)

4. YOU ARE YOUR GREATEST ASSET. SECURE YOURSELF.
Get all the necessary insurance. For all the what ifs and risks in life.

For example, you're the breadwinner of your family and you got sick/got into accident or worst case scenario you die, what will you do, what will happen to your family?
Insurance is a means of protection. Proteksyon mo in case you got sick or maaksidente ka and protection mo din for your family in case mawala ka. It is also a form of risk management.

There are lot of different kinds of insurance nowadays. Get one for your need.



5. INVESTING IS NOT GAMBLING.
We all want to grow our money. But investing should not be so risky. Learn the investment first. EDUCATE yourself.

HONESTLY SPEAKING IT'S HARD TO SAVE MONEY. Kaya dapat yung pagiinvestan natin sa pera natin is safe and may return.

Think about this.
Early age nga natuto ka na magsafe, dami mo na ipon pero hindi ka nag-iinvest kasi natatakot ka kasi nga risky. Not knowing na yung pera mo sa bangko kinain na ng inflation. Yung value ng power mo nagdedecrease as time passes by. And to get along with that you have to LEARN HOW TO INVEST.

INVEST TO GROW YOUR MONEY!
INVEST TO BEAT INFLATION!




Thank you for reading this! Did you learn anything from this post? Comment down below your thoughts.