ARE you a -20 or 30- something who’s stressed with finances? A recent study tells us that Filipino millennials aren’t saving and investing enough, even if we’re aware of future needs and despite us having the freedom to do so.
For many young pros and entrepreneurs – in this information age – it appears that the conventional wisdom is to consider investments early on.
We heard it from our elders time and time again, but maybe it’s worth emphasizing this financial advice: don’t just save—invest our money!
So here’s our quick rundown of the different types of investments that may work well for you. But take note that I’m breaking this into two parts to avoid #InfoOverload:
1. Bank Products
Have you heard of Saving Accounts, Money Market, Federal Insurance and Certificate of Deposits? Most likely, yes because this is the most common of all investments. This is where our deposited money is insured to up to certain margin and can easily be withdrawn.
2. Bonds: Minimum investment: P5,000 to P10,000
As a beginner, we’re likely to be cautious of taking huge investment risks. This is why low-risk investment channels like bonds are perfect for millennials. Bonds are loans offered by an investor to companies and government. In return, the borrower will pay the interest at a fixed schedule