Financial Goals

• Have an Emergency Fund - This is a type of savings that you would only use during emergency, hence, it is called an emergency fund. Example is hospitalization. My parents doesn't have a regular job so this is a must for me. Ideally, it is required for us to have at least 6 months worth of salary as an emergency fund. You can keep this somewhere easily accessible such as savings account.
• Be Insured - Some people overlook the importance of an insurance not knowing that this are actually a necessity especially if you have a family who somehow relies to you financially. You wouldn't want to burden them in case anything happens to you. Good thing though is that there are now insurance that can act as a retirement fund as well. These are called VUL Life Insurance. To know more about it, you can visit Ms. Laroya's post about VUL Life Insurance on this link.
• Own a Piggery Business - As what most economist would say, play with your strengths. My mother, who grew up in a farm, has the know hows of a hog raising business. I've had my fair share taking care of them too when I was younger and they literally are piggy banks.
• Invest in Stock Market - You'd often hear financial advisers suggesting to diversify your income. Well, what better way to do that than to invest in a stock market. If you would like to know more about it, you can read Bro. Bo Sanchez' My Maid Invests in the Stock Market and A Beginner's Guide in Investing in the Stock Market by J3 Patino.
• Invest in Mutual Fund - If you still want to invest in the stock market but prefers a less risky approach, you can try Mutual Fund. It's still the same but instead of you doing the analysis, there will be some sort of middle men (SunLife, BPI etc.) who would do this for you. This can be considered as a long-term savings which gives you a return higher than that of the inflation rate and an other bank's interest rate.
• Own an Apartment-for-Rent - We've been from one apartment to another since I started working. And I learned that one of the best form of investment is real estate. No, not condominium as they depreciate over time, but house and lot. I admit that I can be the most lazy person on Earth which is why I dream of owning an apartment because you only work once or twice a month, the rest is your free time.
• Own a Farm - It's like hitting two birds in one stone. You earn money (by selling products) and you save money (by consuming your products.