Investing is putting your money in a certain investment product. There are many ways to invest but we should begin with things to consider before doing it .
1. Educate Your Self
Before anything else, the first and foremost things we should do is learn the basic in Investing. We can help ourselves by reading financial books, e-books, blogs and even attending seminars about money matter. We should initiate the willingness to learn and improve ourselves. Learning is free, just give time and open your self to new ideas.
2. Settle Your Debts
Before we put our money into investment we should first be reminded to pay our debts. Because investing is useless if the interest we are paying for debts is higher than our gains. We need to stretch our budget to allocate portion of our income for paying. After we set aside fund for our tithes, savings , then the next is for paying debts. It's ok to start slow, The important is, we're moving forward. Discipline and commitment are the keys to be freed from anyone we owe!
3. Build Your Emergency Funds
Except from "Paying our Self First", we need to set aside fund for emergencies. This should cover our expenses for 3-6 months. Its our fall back fund. This is very important, when emergency come we have something to pull-out. We can avoid getting into debts if we have this. The money we put in our investment cannot guarantee you an instant return and we should be aware of this.
Life is uncertain, better that we'll always be prepared!
4. Have an Insurance
Emergency Fund is different from Insurance. There are a different kinds of it depending our needs. Insurance can provide us protection from big financial losses like medical emergencies, accidents, sudden death, paying of estate tax . It covers our future expenses that we are not hoping to happen but we should be aware off.
5. Build an Investment Fund
Of course, we cannot proceed to start investing if we don't have money, right? We must have an ample amount of savings to start with. 20 percent of your income are recommended to keep for growing your money. If we're confident enough and settled the pre-requisite above, then we can start now finding what investment product to begin with.
One way to invest is through Stock Market. It is a place where you can buy and sell the shares of big or even small companies like SM, Jollibee, PLDT etc. In the Philippines we have Philippines Stock Exchange Inc. located in Pasig City. Investing in this area is a very risky move but it gives you a higher returns of income. It requires enough knowledge and guidance when you dip into this investment.
If you want to be guided in investing in the stock market, Truly Rich Club of Bo Sanchez can help you . Bo himself made this program to help aspiring Stock Market Investor. He is an expert mentor in this field and has net worth of more than a million now . In his program, it includes the introduction about financial management, a baby step on how will you start, a guide on how will you pick the right company, and a bonus of while investing and gaining profit you'll have chance to earn an additional passive income through affiliate marketing. One more is, you'll be able to grow your Spiritual life. Here is the link to learn about it, just click here.
I was then have no idea about any investment or any thing about financial management. Through internet browsing I was lead to this program. It helps me a lot specially right now that I am starting my career as an OFW nurse here in Saudi Arabia.
It takes a bold move to change our lives. So might as well, let us educate ourselves Financially!
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