Want to hear a shocking money fact? Well, here, we’ve got 5 of them.
However, a low salary shouldn’t be your obstacle in being a 20-something millionaire. Lots of self-made millionaires right now even started with nothing.
You know that the best time to invest is now. But you still don’t do it.
“Mamaya na. Next month na lang. Madami pang time.”
Let’s get rid of procrastination. How?
By giving you a sense of urgency through these shocking money facts, of course!
1. Your money in your time deposit account is losing its value everyday.
As of present writing, the inflation rate of the country at February 2014 is at 4.10%.
Inflation is basically the rising prices of the goods and services in our country.
Simply speaking, if in the past, you needed less money to buy something, so your money can be viewed valuable.
In the present, you needed more money to buy something, so because of this, your money can be viewed as less valuable as the purchasing power of your peso decreases.
Because of inflation, the value of your money decreases. And if you’re not investing, it’s going to decrease until you do something about it.
- Only put your emergency fund in the bank.
- If you have a goal 5 years and beyond from now, invest instead. Figure out which mutual fund investment type is suitable for you here.
- If you’re interested in investing for the long-term and holding your investment for beyond 5 years or so, you may want to take a look at Sun Life Mutual Funds – you can invest and redeem your investment at no charge. Or VULs (life insurance + investment) Message me for more details. 🙂
The average tuition fee increase per unit for school year 2013-2014 is 8.5% nationwide.
The lowest percentage is from Region IX – 4.74% while the highest percentage of tuition fee increase is from Region II – 12.25%.
Why so high, you ask?
|Source: Sun Life Financial infographic|
It’s because CHED’s Memorandum Order 3-2012 basically allowed the increase in tuition fees, provided that the increase is consulted with the faculty and student body first and that the higher education institution can provide the needed requirements.
In fact, to give you an idea how convenient it is for colleges to raise their tuition fee rates, did you know that out of 451 private higher education institutions that applied for an increase, 354 have been approved by CHED?
- Should you get a pre-need educational plan? NO.
- If your son or daughter is still a toddler, today is the perfect time for you to start preparing for their college fund. You can even look into investing for the long-term.
- Take a look at the image above – the tuition fee projections 18 years from now have been computed for you.
- The only thing left is for you to prepare for that figure. You can either invest in mutual funds or in variable unit-linked (VUL) life insurance.
- Talk to me and let’s see what works for you!
Watch out for Part 2!
“How many millionaires have become wealthy by investing in savings accounts?”
– Robert Allen
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