Entry to Personal Finance and Investments!

I've been studying for over four years now regarding investments and personal finance but it seems that I don't have the courage to take the first step. Well, it was my brother who told me about it. He started investing in 2006 starting with his company cooperative and then later, he entered into Mutual Funds.

English: Phillippine stock market board (Photo credit: Wikipedia)

It Started with F.J. Colayco's Wealth Book

My bother showed me a book, written by Francisco J Colayco entitled "Pera Mo Palaguin Mo (Wealth Within Your Reach). It was a best-seller book in personal finance. Actually, when my brother told me to read it, I was a little bit skeptical. You know, I'm not fond of reading books. But when I started reading the first few pages, I was amazed on how simple the words are. Actually, the book is written for OFWs according to the author.

That event opened-up my mind to personal finance. But I was still jobless at that time. I am freshly out of school and just passed the board exam. Soon, my attention was shifted to finding a job and being good in my chosen profession, a mechanical engineer.

PSE's Stock Trading Game

In mid-2009, in the middle of the unprecedented recession, I discovered PSE's stock trading game. It was a fantasy game wherein you will be given an imaginary amount of money, 1 Million pesos, as a start-up capital. Your mission is to invest that into existing stocks in the Philippine Stock Exchange (PSE).

The PSE Stock Trading Game mimics the actual stock trading procedure. The rates at which stocks are sold reflects the real-world values. The board lot as well as the time of trading is also the same as the real one.

In short, I joined the game. I bought stocks randomly. Only those companies whom I know like SM, GMA7, Jollibee, DMCI, Globe Telecoms, BPI etc. I kept on trading for over two months and because of the small progress and losses due to recession, I lost my interest. Eventually, I left the game.

After 3 Years (PSE Stock Trading Game)
Then comes 2012, after almost three years of inactivity, I visited PSE Stock Trading Game just to see how much did I virtually earn from my stock picks. The result were surprising (or is it?). I was shocked to find out that my 1Million virtual money is now worth 2 Million. 100% growth in three years? Imagine if I invested real money on it.

My stock picks in the PSE Stock Trading Game (2012 data)

From that moment on, my interest in personal finance and investments was rekindled.

4 Steps to Replace Stolen or Lost Passbook

My passbook (inside my bag) was recently stolen inside a local grocery store, and I would like to share the steps I took to secure my account and get a new passbook. By User:Aerous ", CC BY-SA 3.0 , Link The steps outlined here are for a BPI savings account, but generally, the procedure will be very similar to other banks in the Philippines. 1. Call the Bank to Secure Your Account The first and most crucial step you need to do immediately is to contact your bank by phone or personally report it to the branch where you opened the account. This action will ensure that funds will stay put. The bank will lock the account immediately. The big banks have 24/7 hotlines. For BPI, it's 889-100. You have to do this step ASAP after discovering the loss. 2. Go to the Branch to Ask for a Replacement of the Passbook It can mean a simple replacement of the lost passbook, but it can also mean closing the entire account and opening a new one for security purposes. 3. Get an Affidav

Resigning? SSS Will Deduct Your Loan Balance from Your Last Pay

The purpose of this article is to inform the public about this policy of the Social Security System (SSS), the government-owned insurance company for those employed in the private sector. I just learned about this a few months ago when my company announced a workforce reduction program. Among the sad discussions is about this policy of SSS regarding loans in cases of resignation or retrenchment. Section G-2 of the SSS Loan Terms and Conditions (at the back of the loan application form) explicitly says the following: "The employer shall deduct the total balance of the loan from any benefit/s due to the employee and shall remit the same in full to SSS, in case the member-borrower is separated voluntarily (e.g., retirement or resignation) or involuntarily (e.g., termination of employment or cessation of operations of the company)." In other words, y ou will be required to pay the rest of your loan (including the interest) when you change employer or employment statu

How Much Does a MRI Scan Costs in the Philippines?

My dad needs a Magnetic Resonance Imaging (MRI) scan for his prostate problem. I did a little research on how much does it cost to have one. Well, it depends on many factors, such as which body part is to be scanned. There's also this technique called "MRI with contrast," wherein the patient will be injected with a chemical to make the scan clearer. For your information, this technique of adding contrast is known as Gadolinium Contrast Medium . It adds cost to the procedure, but with more clarity, the more you can trust the diagnosis. MRI Machine KasugaHuang , CC BY-SA 3.0 , Link So, in my father's case, we had a Prostate MRI, and I assume it was without contrast since he was never injected with the "contrast" chemicals. We got it in i-Scan Healthcare Inc. here in Quezon City. The cost is 13000 Pesos . Please take note that the amount was just for the scan, and a separate professional will read the result. Some laboratories offer this service (i.e

BLOGGED PHILIPPINES

Search This Blog