Maxine Delfin Galapon
Have you ever tried listing down everything that you have spent your money on for the past 5 or 10 years? I mean EVERYTHING. I bet no. Well that’s because you fear looking at how big you must have spent on food on the plate you can’t even finish, liquor that kills your liver, or those pairs of shoes that you have been keeping up on those dusty shelves or racks.
Have you ever asked yourself why you opted to spend on these things rather than investing the money you have and make it grow through time? Try to look back 5 years ago. You’ve had 5 years of bonuses! Where did all the money go? Disappeared, yes. Learn your lesson this 2017 and move on with a peace of mind and strong financial standing by 2018.
Here are 2 of the best treat you could ever give yourself this :
Credit Card
You’ve read it right. Having a credit card is an investment, too, because it will help you purchase the things you need now (well, of course, necessities), and be able to have enough time to pay for them later on without any cost of interest so long as you get to pay your bills on time.
Just like money, it is actually not the root of all evil, but the love of money is. It’s all about the attitude. Just spend on your needs, especially when using the credit card.
The advantage of having a credit card is that you get to build your “credit history” and if you do well, you will be easily approved for loans you might apply for in the future. Such loans that you may use for starting up your own business someday when you get tired of your daytime job. Creditor will easily trust you with whatever amount they will be lending you.
Want to have a postpaid telephone line to be approved on the spot? Use your credit card. Your credit card serves as your “proof” that you are capable of paying your bills as they will be automatically deducted on your due dates.
Variable Life Insurance
Own a life insurance policy now or regret it when you are too weak to travel. Getting a life insurance will help you retire as early as 40 if you wish. You will be able to save more than enough money for your retirement and grow your money while having yourself protected. Let’s say you are the breadwinner of your family. Now ask yourself, how certain are you that when something bad happens to you, will your family be able to survive for the next 5 or 10 years? Life insurances have product options that when you die, your family will be provided with the amount you are earning monthly.
Most people may think that life insurances are only reserved for the death of a family member or an employee. There’s a lot more about life insurance than just death benefits or claims. As your money stays with the life insurance company, trust your money is growing. Even more as compared to commercial banks. Dividends may be withdrawn by the end of the paying period. You may also apply for some loans with your life insurance. The excess money you can obtain from owning a life insurance policy may be used for any business venture you opt for in the future or for that dream-of-a-lifetime vacation to Maldives or South Africa.
Traditional Life Insurance and Variable Life Insurance are two different things. With a traditional one, you only have a guaranteed death benefit claim for your loved ones and probably some amount obtained from dividends, while with the variable life insurance, you will have the option to increase the growth of your money through diverse investment funds which are handled well by the insurance company’s fund managers. The Peso Secure Fund, Peso Diversified Value Fund, and the Peso Power House Fund are just among the many baskets of investment funds you can put your money into.
The next time you are tempted to grab those extra large fries and coke or those pricey postpaid mobile phone plans, think about these 2 wise investments now while you still have more years in your life.
