Skip to main content

What is Your Financial Goal For This Year, 2013?

The previous year has proven to be wonderful for the Philippine economy. The GDP growth figures beat expectations and is estimated to be around 6.5% for the entire 2012. That figure is especially amazing considering the fact the previous year witnessed one of the worst economic crisis in Europe and overall global economic downturn. Yet, the Philippine economy has proven resilient despite the bad economic environment.

PSE Index Breaks Boundaries

The Philippine Stock Exchange (PSE) is another good story which truly demonstrate how the world views the huge potential of the country. The PSE Composite Index (PSEi), represented by 30 blue-chip companies breached the 5000-point level in mid lad year and as early as January 7 this year, PSEi has already broken the 6000-point mark. Foreign funds keeps the index afloat.

How can these developments affect you personally, you may ask? Well, an increased investor confidence will boost Philippine economy by virtue of inward flow of funds. These funds, in turn helps the local companies expand their businesses, creating more jobs to Filipinos and eventually uplift their quality of life. More investors  mean more businesses and more competition leading to better products and services. Of course, the actual process takes more than that, and the Philippine government plays a vital role in managing these developments. But the positive sentiment is such a huge factor already to make the Philippines rise up economically.

Benefit Personally By Setting and Achieving Financial Goals

To take full advantage of these positive developments, you have to move. First, set your financial goals. By writing them down and being specific on what, when, and how to achieve them, you are setting yourself up to a good start. Of course, keeping yourself motivated to reach them is another thing that needs to be worked out so it is important that the goals that your are setting are realistic based on your true capabilities.

What are some financial goals that you can set up for 2013? One good example is saving a certain amount. Data shows that among the South East Asian countries, the Philippines is one of those lagging in terms of savings. They say, and I quite agree, that Filipinos don't have the culture of savings. Most of us are just living our lives for a day. The saying "bahala na" is the typical mindset among us. When we have money, we spend it right away as if we are only living for today, so when time comes that we need it, we resort to loans which makes the situation worse.

Another financial goal that you can set for this year is becoming free from debt. It's okay to have debt from time to time. If used properly, it can even be a useful leverage that will help you financially. But there are debt that are bad like credit card debt. Many have fallen trap to this ending up overwhelmed by interest rates and other charges.

Lastly,  you can make it a goal to invest. Money stored in bank is not earning money, and it even loses its value due to inflation. If invested properly, money can grow its value. Some forms of investment are real estate, setting up a business, buying stocks from publicly traded companies, mutual funds, UITFs, and bonds.

The next series of articles will discuss some of these goals and how can you help yourself achieve them. The Philippines is off to a good start this year. Do not be left behind, set a financial goal and work out to achieve them.
English: Makati City: Philippines' New York
English: Makati City: Philippines' New York (Photo credit: Wikipedia)


  1. You can make $20 for each 20 minute survey!

    Guess what? This is exactly what big companies are paying me for. They need to know what their average customer needs and wants. So large companies pay millions of dollars per month to the average person. In return, the average person, myself included, participates in surveys and gives them their opinion.


Post a Comment

Popular posts from this blog

SCAM: My First Scam Text This Year; 850000 Pesos from GMA Kapuso Foundation

It's a brand new year for everyone, including local scammers. And despite all the efforts by PLDT and Globe Telecom to curb text message scammers, from time to time, they still creep out and show up in our inboxes. And as hard to believe as the messages of winning some great amounts of money is the fact that there are still people who believe them. I personally know someone and that scam text message triggered events that turn her life upside down. So my point is, we still need to be careful regarding these scam messages. The danger is real! So without further ado, here's the scam message I received a few days ago. On Sunday, January 7, 2018 at exactly 3:33PM (PH time), I received this message from a certain Atty. Jhon Acosta with phone number 09552962911 Congratulations! Ursim# Hadwon PHP850,000 From(GMA KAPUSO FOUNDATION) To Claim Send Ur (NAME/ADD/AGE) &Call Me Now Im Atty;JHON ACOSTA DTI#0391s2018 Thankyou,  Do Not Ever Reply Obviously, this is a

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

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