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March 30, 2015

On Money, Savings and Investment

Filed under: Money — Tags: , , , — rvchua @ 1:13 am

The past week has been a letting go of sorts. One of which is scaling back my involvement in the business. It was a little disappointing but I have easily moved on from that. This means I have extra money and the one thing that I have learned the past 5 months is that investing your money in a bus is not always the best choice. If you put your money in a business, you won’t see any returns for several years and you probably would not get your capital back because it is already used in the assets of the business. It would be good if the business is a success but most businesses aren’t, some are barely scraping by, some even close shop in a year.

If you are just a regular employee, the best way to save is through a cooperative. If the coop is associated with the company you work for and the assets are big enough, it is a safe investing option. Your contributions are automatically deducted from your salary so that you hardly feel the burden. You also get a higher rate of return than regular banks and you don’t pay taxes on it. Also you can take out small & large loans with a smaller interest rate than other ways. Overall investing in a cooperative is convenient, safe and with good returns.

In late 2013, I enrolled in BDO’s Unit Investment Trust Funds (UITFs), wherein money is pooled from numerous investors and managed by professional fund managers who invest them in money market securities and equities. There are different types of UITFs depending on the type of risk, the amount of money invested and the investment time. My investments were linked to my BDO account so my contributions are automatic and I can monitor my gains/losses online. So far I have slowly seeing gains.

I view all of my investments as passive incomes. Now I am looking for ways online to make money, this way I won’t be tied down to one place. I just need something that would cover my usual expenses and I am ready to leave my current job. I tried the paid online survey but I found it confusing and didn’t lead to anything, unless someone points out a good site that I haven’t tried.

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