Money ! Money! Show me the money!

A few months ago, our company gave us a chance to attend a 4 hour-Financial Seminar from the Colayco Foundation. For those who don't know Francisco Colayco, he is the author of the best selling book series "Wealth Within Your Reach-Pera Mo Palaguin Mo"; an experienced business man & the chairman of Colayco Foundation for Education which aims to increase Filipinos' literacy regarding personal finance.With this, they are continuously conducting series of seminar and workshop.

Actually, i didn't attend the seminar-"Pisobilities:Managing your Personal Finances", because of the thought that I don't have plenty of money, so what will I manage anyway? And so i let it slipped. But, still curious about the seminar, i asked fellow office mates to share what is it really all about and what they have learned...

Pisobility seminar. Wealth is within reach for everyone. This is the main message from Colayco. This seminar opens our eyes, we, employees, to the sad realities of poor money management and fantastic possibilities of good money management. We are taught to be responsible for our own wealth generation and that should not be dependent on our company during emergencies.

As per Colayco, savings is for everyone and you don't have to have big money to start saving. What is important is to get it started and do it regularly to become a habit. Even for just a peso a day. Never under estimate a peso, because you can never reach one million pesos if you don't start with one peso.

At the end of workshop, we were able to identified ourselves where we are in terms of our personal finances, as to rich or poor? And as to how much is my net worth! And so i am really affected. My mind is instilled with the thoughts of realizing that all these years, i am spending my money to buy stuff, and not asset. Gadgets are considered as stuff ! At my age, my interest shouldn't be much on stuff like latest mobile phone, DLSR camera or any gadget, but should be more of financial concerns such as stock market trend, business & investment opportunities, and so on and so forth.. (though i know its kinda boring, and has really no knowledge on stocks)

Colayco shares that aside from our regular pay from our job, we must have at least one passive income. This is the secret of the wealthy people, investing what they have saved.

To summarize, it only left me with this : That while you are finding ways to decrease spending, you should also find ways to increase your income.

How? Start thinking of passive income.

If you are an OFW, or may have enough savings to buy a property, then invest on it. Maybe buying a condo/house and make it for rent. Presto, you now have a monthly passive income from rent.

You can also be a passive entrepreneur. You can invest as low as P5000 in a mutual fund. Don't know the details yet, but i'll swear i'll be trying this one by next year. I heard too, that you can buy stocks at the PSE (Phil Stocks Exchange) for as low as P10,000. Again, let me get back to you once i've known the details.

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If you are internet savvy, and really  has passion for writing and talking, then a lot of online job opportunity awaits you. Try the world of blogging. Yes, you too can have income out of blogging.

How to earn money online or out of blogging?

If you are a very good blogger, you can generate approximately $5,000 to $15,000 each month simply by writing blogs online. Bloggers or website owner make money through placement of ads on their site.The most popular way is through registering your blog or website to Google Adsense, so that your website/blog will be allowed to post advertisements. You can make revenues either on per-click or per-impression basis.


 

And that is why I'm also here. Sharing.Blogging.Trying my luck in this online world. Hoping that Google Adsense will soon approved my application.

Remember that while you are finding ways to decrease spending, you should also find ways to increase your income.