Investment for Beginners

One of the things I wish I had learned sooner is the art of investing. I call it art because it takes passion and discipline.

I started working back in 2009 but it was only in 2011 when I started saving up (thru AXA) for the future. Back then, I was still living quite comfortably with my parents. I was earning for myself. But that quickly changed when the crises came one after the other. Until we found ourselves almost drowning in debt. It came to a point when I was the only one earning (and since I was still working fulltime for GMC then, I was not really earning a lot) and had to provide for everything. We were such in a terrible financial mess and I had no idea how to get out of it.

What carried us through is faith and solidarity. We never ceased praying, and we never ceased being a family. And we're blessed to be surrounded by generous people as well to whom we owe a lot.

We're making significant progress. And soon enough, we'll also be able to enjoy financial freedom. ♥

Having said that, let me get to my real topic, investment. I bet that the story of our life is no different from most of the typical Filipino families. And it's probably why we think it's impossible for us to save and invest. I completely understand because I've been there. I was also one of those people who would reason out, "my salary is not even enough to cover my expenses, including that of my family, so how am I going to save?"

But then I've heard and seen and read success stories which are quite unbelievable, but are actually true. And the common factor is... DISCIPLINE. See, just like in love, consistency is really the key.

So early last year, I decided to level up my game, and be serious about my #FinancialGoals.

I started with Php200 Eastwest Basic Savings account. Then I started reading about UITFs and the stock market. Based on my research, BDO offers the easiest, most convenient way to invest in UITFs. True to their tagline, they find ways for you to earn big even by starting small.

Unlike other banks which require a minimum investment of Php10,000, BDO has an Easy Investment Plan which allows depositors to invest as little as Php1,000! Yes, you read it right. So if you're like me who wanted so much to invest but don't have A LOT of money to do so, start with BDO. All you need is a savings account. Actually, even a payroll account works! Mine was a payroll account from my previous organization. And one of my wins last year was being able to convert it to a personal savings account. ♥

So...

Assuming that you already have an account with BDO, all you need to do is follow these simple steps:

1. Log on to BDO Online Banking (If you're using a mobile device, open your browser and log on to BDO. Investment transactions are not available in the Mobile App. You'll only be able to view your balance/s.).

2. Click My Accounts -> My Trust Account / Invest Online.

3. Click Transaction -> EIP Contribution (or Regular UITF Subscription).

Then follow the step-by-step process from opening an account to evaluating your risk factor to setting up your schedule of contribution. I swear, it's super easy! You just need to click buttons and fill out some online forms.

That's it! After that one-time enrollment, you will receive an email confirmation from BDO. The next step is to fund your account at least a day before the scheduled payment.

What happens if you don't have sufficient balance? Nothing. You just won't have a contribution for that period, but your EIP funds remain in tact and will still earn (or on some days, lose). I was not able to contribute for nearly three months because I was unemployed, but when I got back to work, I continued funding my EIP account.

How was I able to do it? I just set up my account to automatically deduct Php1,000 every month (could be twice a month too).

As of today, I have already one UITF account (balanced) and I'm working on three more (equity EIPs).

Remember what I shared about Financial Planning? Pay God first. Pay yourself second. And for me, BDO EIP proved to be an effective tool. :)

For more information on how to invest online with BDO, check out this link: BDO Invest Online.

Happy saving! ♥

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