When the going gets tough, it’s best if you’ve got yourself covered.
When you’re on your early teens towards your twenties, these investments aren’t much of a youngster’s concern back in the day but for someone who has always been wondering, wandering and curious on how my parents were able to send me to school, hand me allowance everyday and get to pay for all these miscellaneous fees, I was taught how to save at an early age and was able to experience that as much as how money may provide happiness — all these materialistic things are nothing but temporary however if you get to invest your money in right avenues, money can work for you.
For starters, here are few necessities one should invest on:
- Health Care
- Security & Savings Insurance
- Emergency Funds
Once you have already acquired those of which listed above; save few bucks for Unit Investment Funds and have your mid to long-term seeds of investment work for you in the long run.
What are UITFs?
Unit Investment Trust Funds (UITFs) are ready-made investments that allow the pooling of funds from different investors with similar investment objectives. These funds are managed by professional fund managers and are invested in various financial instruments such as money market securities, bonds and equities, which are normally available to bigger investors only.
How do I get started?
First of all, I am not sponsored nor endorsing Banco de Oro as my funds are also diversified to other banks but for UITF’s, with the guide of my friends from OFW Usapang Piso group, I was able to smoothly open an investment with a minimum investment amount of Php 1,000
Here are the steps:
1. Have a BDO Savings or Checking Account. Make sure that it’s being funded for.
2. Ask for a UITF Sheet for assessment and check on the UITF Equity Fund.
3. Choose from the form on how many times in a month would you like to AUTODEBIT and remit to your UITF. You can choose either once a month on a specified indicated date (Php 1,000) or twice a month which equates to Php 2,000 on two different dates.
4. Practice cost-averaging. It’s better to start slowly and small if you’re conservative. Once you have already completed the entire Php 10,000 investment, you will receive a certificate investment from BDO and you may review the Equity investment should you desire to pull-out or continue investing.
What is Php 1,000 a day compared to paying for a cup of starbucks and spending it on junk food?
It’s easy breezy. Just make sure you’ve got your account funded for every month, then you’re all set. It’s worry free!
Next stop: Stocks and get the debts over and done with.