“No one’s ever achieved financial
fitness with a January resolution that’s abandoned by February.”
-Suze Orman
Are you still holding on to your New Year’s
Resolution? I hope you are becoming more determined or excited to achieve them
as I am excited for you. In this third and last blog for the series “ThreeThings to Include in Your New Year’s Resolution”, I am going to share with you
the 3 simple ways to grow your money.
If you haven’t tried to let your money work for
you before, I believe, this is the right path for you to begin your journey to
your financial freedom.
As Robert Kiyosaki, the Author of the Rich Dad,
Poor Dad said:
"It's not how much money you make, but how
much money you keep, how hard it
works for you, and how many generations you keep it for."
Be like
farmers
Sow seeds,
tend them and patiently wait for the time to harvest.
How many
mango seeds does it take to grow a mango tree that later on bear hundreds of kilograms
of mango fruits? How many kilograms of rice grains does it take to produce tons
and tons of rice?
These few
seeds of plants have the ability to produce abundant supply of food that won’t
allow you to go hungry. But in order to let their plants grow, farmers need to tend
them-from watering, putting fertilizers, spraying pesticides, weeding the grass
that grows around them, and cultivating them to take away the risks of the plant
from producing less fruit than what is expected, or worse from dying out.
To make
sure that the rice grains they sow will grow and bear grade A grains, the
farmers have to patiently watch over their plants, and patiently wait for the
right time to harvest.
What are my
points?
In growing your money, you need patience. If you like growing your money instantly, I apologize but the ways I’m
about to teach you aren’t the ones you are looking for. I’m sorry. You may want
to try lottery or TV game shows or tracking hidden Yamashita treasures.
The ways I’m
going to share are slow but sure. Long term but worth it.
Have you
ever seen a farmer who harvested his rice grains when the grains are just
sprouting out? Or have you ever heard of a farmer, who planted rice and after a
month the rice are set for harvest? Plants
need time to grow and so does Money. Money needs ample time to give ample
returns.
So, How to
Grow Your Money?
As
starters, be open minded to read and digest the following:
1. Choose your vehicles to wealth
Ride your way to wealth. There are many money machines that can
make you rich. There are many vehicles to wealth. For newbies, I suggest you first
invest in Mutual Funds.
Why Mutual Fund?
Mutual Fund, according to Bo Sanchez is like "rice." "It’s a staple." This is level one investment which is appropriate to
starters who are now ready to take the first step to their financial freedom.
Mutual funds are very affordable to every income earner. In the Philippines you can start investing in Mutual funds with 5000
thousand pesos only.
Why Mutual Fund?
Mutual Fund according to INVESTOPEDIA.COM is an investment vehicle that is made up of a pool of funds
collected from many investors for the purpose of investing in securities such as stocks, bonds, money market instruments and similar assets. Mutual
funds are operated by money
managers, who invest the fund's
capital and attempt to produce capital
gains and
income for the fund's investors.
When investing in Mutual Funds, imagine that you want to begin a buy
and sell of bags business but
a. you don’t have enough money to start
the business,
b. you don’t know what kinds of bags to
buy, where and when to buy, how much to sell, where and when to sell. In short you don’t know how
to run the business, and
c. you don’t have enough time to start a business
because you have a busy and stressful full time job schedule.
So, you decide to add your money to a collected
fund from others who have the same desire and problems as you. Then you hire a
manager to do the business for all of you. The manager will do the buying and
selling for you. He decides what kinds of bags to buy and when to buy, and
decides when to sell them.
All you have to do is wait for the return of your
investment.
There are
many Kinds of Mutual Funds and there are many legitimate Mutual Fund providers
in the Philippines. (I’ll be talking about that in my next blogs.)
2. Invest regularly
A farmer never stops planting because he wants
abundance. He wants more rice grains to sell in the market to provide him more
profit. After a harvest, he plants again.
In Mutual fund investing, you should also sow
regularly. You may add as low as 1000 Pesos monthly, or once in 2 months or 3 months...your choice.
You add money regularly to your Mutual Fund investment so that you'll accumulate more funds that the fund manager will utilize to buy more securities that will earn
you more money.
More funds, more possibilities of returns
3. Keep Seeking
Don’t be contented with your Mutual Fund Investment.
While investing in Mutual Funds, keep looking for more investment vehicles and
study them. Update yourself into version 2.0 like the stock market.
I recommend you subscribe to reputable people’s forums
and websites that will help you open your world to financial independence.
One of my trusted website when it comes to investing
is the Truly Rich Club founded by Bo Sanchez as it is a real service oriented website
where you can find helpful materials and step by step guide to a Spiritually
and Financially healthy life.
Important Reminder:
Investing, like farming has risks. But you can minimize these risks
through having enough knowledge, proper management of funds and guidance from
experts like Bo Sanchez for example.
Happy Investing!!!
If you liked this post,
please feel free to share it to your friends.
P.S. 1 You may also
avail of my free e-Book, by signing up the subscription note below.
P.S. 2 You may click on
the link below to also listen to my online mentor explain the importance of
investing and get a free copy of his book "My Maid Invests in the Stock Market and Why You Should Too."
P.S. 3 You may also
click here to Register to Truly Rich Club to start your journey to financial
freedom through financial literacy.
No comments:
Post a Comment