Monthly Archives: June 2015

Needs Vs Wants, Do You Know the Difference?

30 Tuesday Jun 2015

Posted by in Personal Financing

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As I teach Financial literacy in different institutions here in Saudi Arabia, I came to know that majority of OFW does not know the difference of wants and needs. They probably know it theoretically, but they don’t know the importance of knowing the difference that it will make in their future. Delaying gratification is not in the vocabulary of most OFW’s. Here are some ideas which will definitely let you know the difference of Wants and Needs.

Wants:

  • Not dying when not be able to purchase a thing
  • It is only due to envy that is why your buying
  • You believe that those items that you will buy is part of your status symbol
  • Self-gratification
  • Buying because of “Sale items” thinking that you can save from your purchase even you will not need those items in the next few days.

Needs:

  • You will die if you will not purchase it (i.e food, clothings, etc)
  • It is needed in your work or business
  • You know what you are buying, and you know where you will use it after purchase.
  • You know that if you will not purchase now, it will definitely affect your future
  • You will purchase because you know that it could give your family peace in the event of unforeseen events.

I am not saying not buying those wants, but what I am saying is that we need to be prepared on buying those want. In other words you need to plan and save for paying those wants. Don’t buy want from credit. There is always a general rule that if you don’t have cash to buy for your wants, it is not for you.

Buying on want with credit will lead you to a big financial mess. Hope this short post will remind you the importance of knowing needs and wants. As always you can use extra money for investment.

Steps on How to Start Investing in Stock Market as an OFW

27 Saturday Jun 2015

Posted by in How To

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Are you an OFW and you want to start being involve in Stock Market? It was 3 years ago when I started investing via Stock Market and at that time I am really enthusiast to be involved in investing, but I don’t know what to do. So if you were in the same position as I am 3 years ago, this post might help you.

So if you were in the same position as I am 3 years ago, this post might help you.

Be informed that It is mandatory that the documents we need to submit into the broker (a company that will deal with different big companies on your behalf) are original documents, This document shall  have our original signatures and original forms filled with your responses. Before submitting those documents, it would be better to send the scan copy of all the documents to your brokers. Before starting your application please make sure that you know the following details:

  • TIN Number
  • Bank Account Details (This is where they will deposit your money upon withdrawal)
  • At least 2 ID’s with your signature (Passport could be one of them)

So here are the steps that you need to do:

  1. Download the forms from your brokers
  2. Scan your ID’s
  3. Fill up all the forms and Scan the documents (Make sure your signature in the form is the same as your signature shown in your ID)
  4. Send the scan documents with all your id to your broker
  5. Wait for their reply and approval of all your documents
  6. If there are any comment, rectify the comments and then send again through email for checking.
  7. If everything is fine, send the documents via courier.
  8. They will give you an account
  9. Upon receipt of your account details, you may now load up your account with money via bank transfer or remittances. The money that you have deposited can now be used to buy stocks from different company.

So that’s it, when your deposited amount is loaded in your brokers account, you may start buying stocks of different company. Hope this simple instruction can lead you to your investing journey.

Financial Literacy Goes to Riyadh Philippine Embassy With Angat Pilipinas Coalition [Updated]

23 Tuesday Jun 2015

Posted by in Speaking Engagement

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[Updated]

It was indeed a successful event that was attended by more than 50 OFW from Riyadh Saudi Arabia. Thanks to the Philippine Embassy for accommodating such event in coordination with AngNARS Party List. I could say that it is a good start seeing the enthusiasm that we have seen with the attendee. One of the attendee even told me why it is only now and that it should have been made long time ago. We are planning to have the second Financial Literacy Seminar soon. You may enter your details below so that we can send you updates when will be the 2nd Financial Literacy Seminar in Riyadh Saudi Arabia.

Here are some photos that was taken during the event.

Angat Pilipinas Riyadh Philippine Embassy (1)

The Speakers (Kristine Rodriguez, Dexter Panganiban (Me), Oddesa Liwanag (From Left to Right)

Angat Pilipinas Riyadh Philippine Embassy (2)

The Paticipants With the Speakers

Angat Pilipinas Riyadh Philippine Embassy (3)

The Paticipants With the Speakers

Angat Pilipinas Riyadh Philippine Embassy (4)

The Paticipants With the Speakers

Angat Pilipinas Riyadh Philippine Embassy (5)

The Speakers (Kristine Rodriguez, Dexter Panganiban (Me), Oddesa Liwanag (From Left to Right)

Photo Credit : Ma Bel Olaso

[Older Post]

I am excited to share that I will be teaching Financial Literacy at Philippine Embassy in Riyadh Saudi Arabia this coming Friday, June 26, 2015. I am a volunteer of Angat Filipinas Coalition for Financial Literacy with the Mission OFW Usapang Piso (Mission for OFW’s Dependent and Former OFW). I together with 2 other volunteers, Miss Des Liwanag and Miss Kristine Rodriguez will be teaching Steps to Financial Security for OFW. This particular seminar is in coordination with ANG NARS Party list who help to secure time and place at the Philippine Embassy.

ang Nars Philippine Embassy

It is our objective to teach fellow OFW on how Eliminate and reduce debts, Be protected financially, Be a responsible spender, avoiding and fighting scams, investing in Paper investments and achieving financial freedom.

I am excited since this will be 2nd time teaching financial literacy in Public here in Saud Arabia, at First it was with Engineers during the Annual convention and this time with most of the attendees are Nurses.  I have been teaching small groups in private houses here in the Kindom of Saudi Arabia and good to report that there are some spenders that is now turning to savers after learning the objective of Financial Literacy and I hope there will be more OFWm who learn about how to handle their finances.

We will be reporting our experience about this event. BTW this event is also through the effort of Burn Guttierez, the Founder of Angat Pilipinas.