Monday, July 11, 2011

Investment for OFW

Many of us OFWs are not very educated when it comes to Financial domain. That includes me, I had to experience the hardships of financial burdens just to be awaken and realize that I need to do something about it.

Here is a fact, 1 out of my 10 OFW friends doesn't know about Stock Market, how does it work and what opportunities it is offering.

Click Here to Know How a Maid is Investing in Philippine Stock Market.

What we are taught, is to save money in the banks if we want to grow our money without putting it to business. But the missing part is that, we are not aware as to how to control our cash flow.

You see, how many of us every end of the month would end up zero or even negative value because of credit cards.

How can we save our money to the banks when don't have anything left to save. Shopping of shoes today, travel plans in the next month, Buying of new gadgets today, etc. etc.

Shopping is okay, if you have something allocated for that in your budget plan. If you are getting a portion of your money as your Personal budget for whatever things that you might buy. Now if you don't have anything for that, think again, don't buy. Wait for next month and budget something for it, write it on paper or put it in an envelope if you want to use the envelope budgeting system.

Click Here to Know More About Dividing Your Income

Travel is not bad, so long as you are not using your credit cards to pay for air fare, or anything related to that travel. Why are you going to travel when you don't have money in your Travel Fund. If you really like to travel, save for it, do sacrifices to save, and put that saved money to your Travel Fund.

What about buying gadgets? The same principle applies. Get it from your Personal Fund, if your Personal Fund envelope doesn't allow you to buy that, don't buy.

Try to live within your means. If you are earning $1,000.00 a month. Don't try to live a life that will cost you $1,001.00 dollars or more. Don't try to live $1,000.00 in advance. If you have bills that reflect only the next month, when you are actually paying the current month, save for it this month and do not get it from your next month's salary.

Here's a tip, if you are using the services, supplies, resources or whatever today, get the payment of these from this month's paycheck or salary. Don't pay them using your salary next month, otherwise you are not truly living within your means.

If you can live within your means, that means you are in control of your cash and not by your impulsive-buying tendencies. If you can live within your means, you can sacrifice and willing to sacrifice more in order to save something for your future.

Click Here for More About How to Save for Your Future as Your Retirement Fund

Why we save for the future? Because we are not growing younger day by day, we are getting older every second of the day. There would come a time that we can no longer work because of age. And when that happens, we don't want to be a burden to our children or relatives. We want to have something of our own to support the remaining years of our life.

So, we must save for our future. And we don't want to save it in the bank. Because saving in the bank would not grow your money. Instead, we will invest our money for our future. How to do it? By buying stocks from the Companies that we know would still be there 40 years or 50 years from now.

This sounds complicated but I tell you, it's just as easy as depositing money every month to a bank. You might heard of Bo Sanchez article about his maid investing money.

TrulyRichClub has made my eyes open as to how to manage my finances. How to invest in my future and how to earn more.

Every month, Bo Sanchez will be sending out emails to guide TrulyRichClub's members what stocks to buy. He will warn his members on any potential market crisis.

With his many mentors with decades of experience in the stock market can most of the time have valuable information as to what is going on in the background of these huge companies that we are buying. Giving us signals as when to sell our stocks if needed.

We don't have the skills to do all this kind of analysis, and the good thing is we don't need to learn it, because we have the right people of TrulyRichClub who do all the hard work of analyzing the stock market for us.


You now have the option to invest for your future and have your millions in the next 30 years. Don't let yourself suffer the way other OFWs suffered for not controlling their finances and investing for their retirement. It is not forever that we will be working abroad, there would be a time that we want to stop working and enjoy the life of financially stable retiree, back in our homeland, the Philippines.

May God Bless Us All.

-Bro Kim