This is part 2 of my article "MONEY TALK: 5 ways that may help students (actually anyone) become rich". PART 1 (the shorter one) of the article is found HERE po. I felt tired last night writing down my thoughts (I fell asleep ahaha, and continued when I woke up); they were rushing at lightning speeds I wasn't able to keep the pace.
So, aside from saving, ano pa nga ba ang pwede mong gawin bilang estudyante o di kaya'y nasa 20s or 30s gaya ko? Heto ang ilan pa sa mga S na pwede nating gawin para maging mas mayaman o makaahon sa hirap. Tandaan, mas okay na naghihirap ngayon kesa naman sa naghihirap pa din sa hinaharap (lalo na mas okay mga gadgets nun at mas cool ang mga lakwatsa areas hehe).
2. SETTLE YOUR DEBT (UTANG). OR DON'T MAKE UTANG (OWE SOMEONE) AT ALL!
In the world of finance, debt or utang is something, usually money or pera, that is owed or due. It means it's something that needs to be paid in time. So, in short, responsibilidad natng bayaran yun!
Hence, as early as possible, unless in case of emergencies should you owe money to someone, pay them, kasi 'pag nakakalimutan, dun talaga nagkakaproblema. Promise.
Settle your debt so that in the future, when the rich/er you meets your creditor (pinagkakautangan mo), di na mababawasan naipon mo (or mayaman ka na, you can throw away money at his/her face, lol). Again, I'm reminding you; money is not everything. It could buy mansions, cars, jewelry, but not friends, not relatives, and not love.
As for me, I always made sure that I don't owe money from someone unless I really needed the money; I don't use credit cards because sometimes the interests when payment time's up are really cash-strapping. Sino ba pinayaman mo because of credit? Edi yung mga banks.
3. START YOUR OWN BUSINESS.
You may be young, or naive, but there's no excuse for you to begin this journey - starting your own business. Kahit gaano pa yan kaliit, basta you know how it's run. Printing business? Blogging? Mini sari-sari store? Pwede yan!! Baking? Selling old stuff (Sulit lang?)? Repairing laptops/desktop computers? Push mo yan!
Anything that would help you earn money is better than doing nothing! Just make sure you know what you're doing and that you won't be put to danger by doing it.
I've read experiences of young people failing in their ventures or businesses; that's the reason for starting - to learn as early as you can, as fast as it could be, and as much as you want. But, I've also heard of very successful young people, e.g. Mark Zuckerberg, who started from scratch and continued learning and committing mistakes until they mastered their craft, and where are they now? They're the biggest success stories of the decade. :D
The more money you have, the higher the possible returns! So, uulitin ko, start saving now hehe. A saving of piso a day or 365 pesos a year is better than having none at all, by December 31, right?
4. START INVESTING.
Investing has helped me managed my time wisely and do really intense research (of company stocks I wanted to own). Again, investing is never easy, but once you've learned a lot and made mistakes,
How do you start investing? Well, first you gotta have a lot of money - at least 5k PHP. Once you already have such amount, kindly message me thru spotlightphilippines@yahoo.com.ph and I'll teach you how. Or watch Pesos and Sense, before you join the stock market via COL Financial. As of this moment, you can choose your stocks on your own online or let a fund manager choose stocks for you (via mutual fund). :)
Or, or, or. You may search google, and type "how to invest in PH stock exchange". The steps are really easy. You just have to fill up some form, prepare the money, get a TIN (tax identification number) from the Bureau of Internal Revenue (BIR) office nearest you, deposit the minimum 5k to your account, and voila, you may start RESEARCHING your ideal stocks and INVEST. :)
At an early age, you can also protect your family from income loss by insuring your health so that when something bad happens to you, your dependents in the future won't have to suffer hard.
At an early age, you can also protect your family from income loss by insuring your health so that when something bad happens to you, your dependents in the future won't have to suffer hard.
5. SHARE. GIVE BACK.
You may have all the money in the world, but what purpose does it serve if you're unable to help people or the younger ones reach their dreams right? I cannot say I'm already successful right now. I cannot say I am rich right now, because to be honest I am not; I'm still relying on my parents but at a very minimal cost. And I am continuously, with perseverance, doing the 5 simple steps to get to the path that only a few realize - the path to financial freedom.
By blogging about this post, I'm able to share my ideas and my realizations in the past. Money is important, but again, it's not all there is in this world. There's happiness, freedom, and again, love. However, the feeling is way better when you get the best of both worlds (material things and intangible memories hehe).
Apart from blogging, I also give back on my birthday by providing meals to street children. Shhh, now you know. But you don't know me, hehe. So, let's just say na may mga tao pa rin palang ganun; and mind you, maraming ganito ka kind na mga tao! Yes, you're right, faith in humanity is restored. :))
P.S. If you're interested in reading more life-based money stories, here are some of them:
Two financial lessons I learned from Mama and Papa when I was a kid
5 Awesome Tips to Help your Parents in your Finances
Two financial lessons I learned from Mama and Papa when I was a kid
5 Awesome Tips to Help your Parents in your Finances
