20K and Counting: Ways to Grow your Php 20K

What will you do if you have Php 20,000 in your wallet? 

Nowadays, Php 20,000  not a fairly big amount in terms of purchasing power unlike several years before.But if your are wise enough, you can grow this Php 20k over time. All you need you neec to do is to know where to invest it. Not sure where to put it? Here are some tips to invest your 20k smartly:

Start a small business


With a 20k capital, be your own boss and start your own small business. There are a lot of business ideas out there to choose from ranging from food to fashion to service. With the advent of the internet, you don’t need to rent a commercial place in order for you to showcase your products and reach potential buyers. In order to become successful in growing your Php20k to unlimited income you need to consider these things (1). start a business that you are passionate about and (2) offer good quality products and at par customer service.

Set up an emergency fund


Most of us are guilty of not considering putting up an emergency fund for rainy days. If you have not set up one yet, your Php 20,000 is a good amount to start it up. Set  a time deposit for your fund and religiously grow your savings until such time that you are confident enough that you have enough money to cover your three month expenses just in case something happens to you or you suddenly lose your job. In this way your mind is at ease that you have something to fall back just in times of dire financial needs.

Invest in UITFs or Mutual Funds


Many people are afraid to invest in the stock market because of its volatility and are afraid that they might lose their money in the long run. However, if you want to grow your money exponentially, stock market is one of the best ways to do it since the percentage of yield is higher than bank interests. You can choose to put your money in a unit investment trust funds wherein your money is being managed by financial managers and are invested in stocks deemed to yield high percentage of return fo a period of time. Or, you can pool it in mutual fund and choose the stocks to invest in. 

Build your retirement fund


We do have the government sponsored retirement plan program like the SSS and GSIS but it is always nice to have a retirement plan of your own to look forward to when you finally quit your job. Many banks and financial institutions are offering retirement plan programs for a surprisingly small amount of money. Start your retirement plan now and enjoy your golden years without worrying about money. 

Invest in yourself


One of the best investments is to invest in yourself. Enrich yourself with new knowlegde that you can use to advance your career. Or you can always learn new things that you can use in the future like new hobbies. 

There is no big or small amount if you set your heart and your mind to grow your money. You have many options out there. All you need to do is to start doing it. 

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Moving Up and Moving Forward

Several years ago, I took my last walk into the university quadrangle emersing myself into the ambiance of the academe and trying to recall great memories of my schooling. It was the last few days before we were officially conferred as graduates. That particular moment was of mixed emotions, of happiness and of uncertainty. Happiness because finally after spending almost half of my life in school, I could finally be relinquished to the real world. But a feeling of uncertainty was also creeping in since I was still unsure of the real world.  I have spent the last ten minutes reminiscing the good old school days from elementary up to college and thought that I had indeed a lot of memories to cherish. Afterwhich, I stepped out of the campus and never looked back.

I have recently attended the Moving Up ceremony of my daughter in pre-school and this made me think of the other graduates who will march forward on their own graduation day this year. I recalled  a piece in my own valedictory address back in high school wherein I had challenged my fellow graduates to delve deeper into the essence of learning and live it up to attain our own success. I was young then, full of hopes and idealism that our future after 10 or so years will all be bright and beautiful. There were many things that happened since that particular moment and I am pretty sure that my batchmates have long forgotten the four-page speech that I had delivered that night ( to be honest, I myself can only recall bits and pieces of that speech). The real world have long since altered my perception of life in general and  I can say that I know better now.

 If I’ll be given a chance to re-write that graduation speech and speak it in front of newly grads, I would keep it as realistic as possible, not to kill their hopes but give them a glimpse of what they could expect out of the four corners of the school walls. I have enlisted the three most important things that are not often told to the graduates:

1. School is just another means of obtaining education. Experience is the other half. In the real world, you can only use  70% at most of what you have learned thru the four corners of the classroom but you can always rely on your experience to deal with real life situations. So invest in your schooling but never stop learning from experience. And you can only do this if you are not afraid to fail.

2. Your diploma is not always a ticket to a successful life. To be successful, you must be willing to start from the bottom and work your ass off to be able to inch a notch into the career ladder. And it is never as easy as you have dreamed of. There are  a lot of competition out there and the job market is not a stable ground. You might have graduated at the top of your class but chances are, you can end up serving coffee and doing mundane stuff to earn a living.  The key to success is perseverance and you need a big grit to be able to level the playing field.

3. You can never fill in somebody else’s shoes so don’t waste your time living other person’s dreams. Decide where you want to go and live the life you want. Follow your intuition and seize your own direction. There are times that you will find yourself in the crossroads and you might decide to take a wrong turn. People around you will criticize your move but life is too short to be afraid to tread your own path. It is better for you to reach the end of the road with bruise and scratch than spend the last breath in your deathbed with the thoughts of “if only…”, and “wish I had…”

 So long, graduates of 2014. I congratulate you for MOVING UP and I am hoping that your journey MOVING FORWARD into the real world will be full of wisdom, success and memories that you will cherish for a lifetime.