"Ang Maling Tradition ng Pinoy na dapat i-update"
Real Story:
Ugali kong magdiversify. I saved and I forget. Until my bank called me, I have my own way of managing finances to make it work for me. Next time ko na lang i-share.
So ang sabi sakin ng teller ng banko, “Sir, mag 2years na po yung account nyo madodormant na” pakideposituhan na lang po.
This happened to an account I opened 2 years back to diversify.
So what I did, i added P2k online para di lang madormant at ma hassle.
Fast forward.. Kanina, I went to the bank to withdraw some funds and I also updated na rin my passbooks. Wala kasi akong ATM at ayoko rin ng ATM para di ko magalaw. Pag passbook kasi, hassle pa sa banks pumila, so i am forced to forget.
When I saw how much I earned. After adding the 2K i deposited, ayun halos P208.11
So nagkwenta ako less inflation. Talo pa talaga ako. Pero honestly, i expected this. Being in the industry long enough, I never expected that money placements sa regular savings would be an income source. It won't.
So para sakin, ang “WHY” kasi in saving there is for security of the funds and diversification talaga. Para sakin, basta safe ka and I can get you pag kailangan kita, I am fine.. Sa kasabihan nga, pag may "sinuksok, may madudukot"
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Pero ang tanong, what if a common wage earner does the same at walang education on financial literacy and be able to grow their funds? Imagine, 30 years service ng isang minimum wage earner, at wag naman sana tulad ng nangyari sa Lebanon, when inflation rose, their currency devalued. I know it may be far from reality, pero what if?
Ito yung mga scenarios, that made me realize, at this hour of the day timecheck 1am na .. that this is the reason why I should persist, persevere and exist. I need to educate our fellowmen. We need to educate the critical mass of our society.
I posted this not to brag whatsoever but to educate. This is a hard earned money after all.
My purpose of this is to give a real-life examples of contradicting a tradition sa Pinas na sa. banko magsave tayo para ok ang buhay. Tama yun, pero dapat dagdagan natin ng understanding into where we can put our funds to fight inflation. Yun ang kulang. So kapag OK na ang savings mo, life insurance, medical insurance, emergency funds then you can start diversifying into bonds, stocks, crypto and the likes.
Share this to a friend KaMiranda! Goodnight!
Coach Miranda Miner