How to invest in UITF?

More than 3 years ago, I learned how to invest in the stock market. At first, I was hesitant to pour in my money into my broker’s account (COL Financial) to directly invest in stocks. I did it slowly because in my mind it could be a scam and besides I don’t even know somebody who invests in stock market. In short, I was really scared.

Since I’m comfortable with the banks, I decided to move some of my cash and buy UITF. So I told myself “It’s just a test”. Actually I really don’t know UITF back then because I asked the bank’s counter for mutual fund. They told me that banks don’t offer mutual funds but UITFs. By the way, the bank’s representative I asked is from BDO. Continue reading “How to invest in UITF?”

Take charge of your cash!

“More people should learn to tell their dollars where to go, instead of asking them where they went” Robert Babson

Once action-without-vision-is-activityupon a time I was an OFW.  It was a dream come true to me and my family.  I’m earning around 5 times of my salary as local employee here in Philippines.  I thought more salary will fix and improve my finances.  I was wrong.

After a year of working overseas, I looked at my passbook and saw the records how money comes in and goes out.  Although I’m earning much more, my expenses also goes up and this a common problems among OFWs.

My perception about money clearly reflects on my passbook that is, the idea of “work then spend all”.  It was really frightening when my 2-year contract is about to end because I can’t imagine going back to Philippines with no savings and so I asked myself “Where did my money go?”  

Continue reading “Take charge of your cash!”