How to save your earnings? Where to best invest your money? See more at: http://gulfnews.com/videos
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00:00Welcome to HHK, Mr. Francis. How are you?
00:09Thanks, I'm fine, thank you.
00:10Our topic for today is, are you ready to leave the country, your host country as an OFW,
00:18and how to be productive when you go back home?
00:23First and foremost, we need to understand that we're going back home.
00:26We're going to reintegrate. That's very powerful.
00:29If you're going to put that in your head, you're going to be disciplined in saving your money every month.
00:37That it's going to be a key driver for you, so that when you go home, you have all this investment scheme.
00:46Discipline is key.
00:48We should be putting saving and investment every month.
00:52If you're disciplining yourself, discipline the people who are also depending on you in the Philippines.
00:57Why am I saying that?
00:59Because us Filipinos, we have this culture of entitlement.
01:02I always advise, when you're running your finances as a discipline, run it like a corporation.
01:08You know, what does that mean?
01:10For me, at the 23rd of the month, if you don't request that you need to add to my payment,
01:18then you're next month.
01:19Why am I doing that?
01:20And there's a category, education, businesses, or emergency.
01:26Of course, if there's an emergency, there's an emergency fund.
01:29If it's not that, if it's to save money, to buy a new cell phone,
01:35my family knows, my answer to that is no.
01:39We're not giving them an opportunity to explore in resolving their challenges.
01:47You ask if it's enough, what's enough.
01:50You should know what's enough for the family you're sending.
01:53That should be calculated.
01:55We need to reduce our expenses.
01:57Before you buy, you should think, do I really need this?
02:01Where will I use this?
02:03Again, it goes back to the discipline.
02:07Sometimes, when we see a sale, you buy right away.
02:10Impulse sale.
02:12You'll be tempted if you're in an on-sale store, right?
02:17Then you'll measure it.
02:19If it's 90% off, oh my God.
02:21You'll be tempted.
02:23Even if you don't need to buy, that's wrong.
02:26Or sometimes, we line up to buy.
02:32Because that's a tendency. It's behavioral.
02:35Now, you need to set a limit also on that.
02:38And then, it goes back to the discipline.
02:42If your plan is already laid out in your finances,
02:47and your expenses are 70%,
02:50look at it.
02:52You can still buy this if this is my only money.
02:55Attend financial literacy seminars.
03:00Be mentored.
03:01There are a lot of people who are willing to help you towards your success.
03:06Starting from now, you need to know the basics.
03:09The 10-20-70 rule.
03:12The saving and budgeting.
03:14You need to be disciplined on that every month.
03:16You need to put what's right there.
03:18At the same time, grow your assets.
03:21Grow your funds.
03:22Secure your future.
03:25At the same time, diversify your investment as well.
03:30So, what are the best investments that you can save your money on?
03:39Well, there are a lot of growth funds that you can put.
03:42Again, coming back, different individualities you need to profile yourself.
03:48You can go on stock market.
03:50You can go on a mutual fund, UITF, bond fund.
03:54You can have a rental property.
03:56What about gold?
03:57Gold.
03:58I'm doing that.
04:00Not the online, but I'm buying gold here.
04:03Here, you can do trading of gold.
04:05But buy the gold, the coins, bullion, or bars.
04:11Don't buy the clothes because there's a making fee.
04:15So, buy that.
04:16And then, just monitor.
04:18If the gold is low, then you sell it high.
04:22Right?
04:23So, that's it.
04:24Buy and sell.
04:25If you buy it, you sell it back.
04:27That's it.
04:28You can do that as well.
04:30Okay.
04:31So, guys, let's go to the gold souk.
04:35When will you buy gold bars?
04:37Bars, coins, bullions.
04:40And then, at the last, execute and engage.
04:45Sometimes, we're just full of vision, full of plans.
04:48However, we forgot to step towards to your freedom.
04:52And that is what I would like to impart to you on this session.
04:58Okay.
04:59If you have any questions to our financial expert, please send us your comment below.
05:06And you can also get in touch with him on his Facebook account.
05:11Francis Erroll Medina at Facebook.com.
05:13And then, you can follow also our events on Financial Literacy on Innovate Create Events.
05:20Thank you so much.
05:23Thank you so much.
05:25It's an honor and pleasure.