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Showing posts with label Banking. Show all posts

When BSP-BMAP started a program last August 2011 "KIDDIE ACCOUNT PROGRAM", wherein school children are encouraged to open accounts with initial deposit of P100 and below at any of the banks under BMAP(Bank Marketing Association of the Philippines), I was thankful and very grateful knowing that they give information and encourage our children on how important is the word "SAVING" is.

For this year 2015, BSP launches another advocacy called "PROJECT BRO or Bsp Reaches Out" that encourage our kids and teens to save more money for their future, a project of Financial Consumer Protection Department(FCPD) in partnership with BMAP sponsored by BPI, DBP, China Bank Savings, Security Bank, UCPB, RCBC Savings Bank, Veterans Bank, BDO, EastWest, LandBank, MetroBank, PSBank, and Philippine National Bank.

A campaign that developed by the BSP's FCPD that engage students from Grade 1 to Grade 10(public and private schools) across the country, fulfilling their fun-filled activities by adding more interactive talk on how to value money and to spend it wisely and by opening a bank account.

Last July 6 here in Davao City, they started distributing it at my daughters school at the Davao City National High School.

BANKING ON YOUR FUTURE STARTS WITH YOU.

What I like about this campaign now, is that they give a detailed progress information, a simple yet very easy to understand by the Kids and the Teens. And I agree, it's really a fun way idea in valuing money and on how to save.

Using the Ruler Peso Saving Guide, our children can monitor their own saving progress.

And last July 7, my daughter started saving P5 and she will do it every day.

I am excited for the result, for I believe that my daughter can do it without a failure in putting P5 in her coin bank. I told her,
if she saves money, she can also afford to invest for at least a year or two in the near future.

Those who began saving during childhood display better attitudes toward savings than those who did not.

A motivation for her to practice a sort of a financial education, teaching our children the importance of money in life.

Thank you so much Banko Sentral ng Pilipinas.

Read more here: Money Matters for Kids(MMK)

This is the second book I've read from LIFESTYLE UPGRADE.

If you can still remember the first book I've reviewed here is about a PAYCHECK. That having a Paycheck is not an assurance to become successful in life. That being dependent in a paycheck means you are dependent on your current spending so better STOP living with paycheck!

Book number two(2), the idea here is to give you guidelines on how to start your own business. Here, I'm presenting you my personal input about the book.

photo credit: REGUSmedia via photopin cc

As I said, I am a Marketing Graduate both my parents are teachers, even my relatives are in Education so I don't have any idea about business world. But embracing BUSINESS been a gradual process for me.

During my On-The-Job Training, I was greatly challenge with the company assigned for me.

AVON is the most highly socialized selling company in terms of cosmetics, accessories and fashion. Many women began working outside the home and getting socialize in selling the product.

I was amazed with this kind of networking business that AVON has to offer to its customers. And I said, even if I am just a student, I can try this line and have my own business as a DEALER. Then that's the PATH I follow.

CLARITY IS POWER

Know your strength and weaknesses in dealing business. This is your step if you actually like it or not, you need to possess clarity in knowing what path you want in your life.

As years passed, I grew tired in networking maybe because I am still a graduating student that time and need to concentrate in my subjects and dissertation. So I quit my work as a dealer, and concentrate first with my studies.

After graduation, I determine to find work that will compensate me well in return. I work at RCPI-Bayantel(now WESTERN UNION) as Customer Service Representative but my work here last only for six months. Then I look for another job and landed in SM WATSONS Philippines(formerly Health & Beauty), work for five years and I resign. Why? To look for a better way of life with clarity today that I have a family.

Confuse and don't know where to start, with no capital at all and amidst with all the negative impression, that having a business you should have a BIG CAPITAL to start. I am still determine to have my own business.

With the assistant of my father's GSIS Pension, I have opened a small internet shop just in our residential area. Starting with 3 units and then gradually increasing by 2 and now I have 6 computer units at my shop and planning to add another 2 units next month.

SLOWLY but SURELY.

This is the business that I love to have, it's my dream business.

And asking me about my per capita, well it has a stable income and I love the increasing out pour of blessings that this business gives me.

HABITUAL 100% DOERS ARE INSTANT WINNERS

Agree with the authors phrase here, that in everything you do give your 100% trust and strength. The will power to acquire the business you love and will give you satisfaction in life.

TRUST yourself and GIVE YOUR STRENGTH in dealing businesses, because YOU DESERVE THE BEST OF EVERYTHING!

And added mine here, DO IT WITH SPIRITUAL GUIDANCE. Through the application of correct principles and being sensitive to the feelings of others.

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There is always a regret at the end if you yourself doesn't know how to handle your own PAYCHECK.

I read a book " I WISH THEY TAUGHT MONEY IN HIGH SCHOOL - So I'm Not Dependent On My Pay Check". (Book 1)

Remembering back when I am still in my college years, when it's my first time to come across what is BUSINESS all about.

I am a Business Administration graduate major in Marketing, I don't have any backgrounds with my course of study at all. But I really did learned from my course so much, that in business you don't need to study it and become successful, if you cognize to balance MONEY and EXPENSES, you know how to market your product and have that discipline to acquire it, you will become successful.

Taking in a decent job, you work hard and live modestly but still have that balancing risk, weighing your assets and liabilities you still can't hold back living paycheck to paycheck. A hard time in having trouble just making ends meet, the increasing price of supplies versus your paycheck. This is really the sad part, you work hard for money 8 hours a day but the truth is your money works for you 24 hours a day. And by the end you are still negative in your income per capita.

To invest is the answer just to gain back the slack from your income. And what better investment plan is to BUY ASSETS.

As the author have said, and I quote "BUYING ASSETS is what we call INVESTING". Simply because when you buy assets, you put money into your pocket. And that is a better way of investing because we want to be financial secure for our future!

THINGS I'VE LEARNED FROM BOOK 1

When you invest you need money to start. Don't start investing if you don't have a stable job. So better SAVE.
Then if you need a good guidance in investing better read this book, I WISH THEY TAUGHT MONEY IN HIGH SCHOOL(BOOK 1).
Need to practice simpler things in investing. Enroll yourself in a STOCK MARKET, with as little as PHp 5,000 you can start to open a stock for yourself.
You need to invest regularly and systematically with strategy. Just like in the authors example the PLANTS vs ZOMBIES.

photo credit: inju via photopin cc

Wherein the NATURAL LIGHT is your INCOME you receive as an employee. With a fixed rate that comes and slow but steady. The SUNFLOWERS are ASSETS, you invest some sun to buy them, but the returns are a continuous supply of sun that will not only give you back what you spent but to buy other plants.

Nice analogy from the author,a well explained picture that high school student can easily understand.

Added mine here, ZOMBIES are the EXPENSES that get your income unknowingly or knowingly.

My explanation is when you find your income is not enough to cover your expenses and you are dependent with your credit cards simply to pass over your expenses and it flexes out to be a cash crunch, you may see yourself asking for a total budget resources and without knowing it you're totally broke and ruined like a ZOMBIE.

So, learning from this we really need to DISCIPLINE our SPENDING and SAVING. As I've learned with my Marketing course you need to have a BALANCE DIET with your Financial. Get the Balance Right! Maintain your discipline towards saving a percentage of your monthly income and a long way of retirement will continues to grow.

*This is the first book I've reviewed from them, another one will be on my next post:
I WISH THEY TAUGHT MONEY IN HIGH SCHOOL - So I Can Start My Own Business Right Away.