WHERE TO INVEST YOUR HARD EARN MONEY

hi to all,


I think this topic will help you decide where to invest your money while working abroad.

Last topic I share my tips on how to saving and manage your money, so now let's think on where can we invest our savings.

Here in Dubai or others emirates it is easy to apply for a personal loan from your bank (if you have one). usually they need a leter from your company with salary certificates, 3 months payslip, and length of tenure from your company. Then you can avail a loanable amount of 20 times of your gross salary or more than that. maximum of 250thousand dirhams for expats but it still depends on your salary.The terms will be maximum of 5 years or 60 months that will be debited to your salary on monthly basis. Interest rates is 10% which is much lower than a loan rates from phil. banks (range 12% or more) also the hussle and bunch of required documents just to apply a loan from phil banks. here abroad after you give your salary certificates and payslip in 3 days time the money will be trasnfered to your account.

If you required to finance a property o you need a emergency cash, my advice is to take a loan from here rather than in phil bank or going for a 5-6 loan. If you don't have a bank account here you can apply now. just bring your labour contract, labour card, passport copy and id. here some banks for you to check into;
1. dubai national bank
2. standard chartered bank
3. emirates bank
4. rak bank and others

So if you have a bank account already you can ask your bank thru phone if you can apply a personal loan and ask how much is your loanable amount and terms as well. then you can think of where can you invest this money so that it will gain interest. or you can purchase your dream house or car.

But for now let me give you an advice to invest in property because it will not depreciates unlike cars and other things, remember you need to pay that loan for the length of your agreed term so make it sure that the money will be used in a good investment so that the interest your paying on the bank will be worth it.

So why we need to invest?..if you put your money on the bank the intrest rate is much lower even though you put it on a time deposit. remember your loan is 10% rate per year but in time deposit 3-6% per year is the range of interest so you lose some there.

Its better to invest your money into Real Estate Property - why? coz property will not depreciate it means than when you buy the property now for a 1000, tomorow or after a year it will appreciate to 1200 or more..but it depends on the location of the property how it will appreciate than fast.

Also if you want to built your house its better to do it now coz the cost of materials and labor keep of increasing. Atleast if you took a loan here and spend it by buy a property or building of your house, you can use it already while your still paying your debts here.

But keep in mind that you should assess your finance capability before taking a loan here then decide a good investment for that money.

I hope this tips will give you a good idea on where to invest your money.

Next topic will be on how to buy a property..and what are the taxes need to be paid to transfer the title to your name.

thanks

Ricomoraga

HOW TO MANAGE YOUR HARD EARN MONEY

Mga kababayang OFW, gusto kong ishare sa inyo ang isang way upang mamanage o makaipon kayo mula sa inyong kinikita sa abroad...lahat tayong nag abroad ay nais lamang makaipon at kung maaari ay makabalik na sa ating bansa...sabi nga nila, masarap pa din mamuhay sa pinas basta't may sapat kang pera pangtustos sa araw araw na pangangailangan ng pamilya mo.

So paano mo magagawa ito kung di ka magiipon at magpaplano para matustusan mo yung pangangailangan mo kung babalik ka sa pinas.

Marami na akong kilalang kapwa OFW dito sa dubai, na kung magpadala ng pera sa pamilya nila sa pinas ay halos buong sweldo nya kada buwan.Ang tinitira lang ang panggastos nila dito sa abroad sa pang arawaraw.Wala pong masama dun pero yun eh kung mahahawakan o ma-manage`yung pera na pinadala mo.Sa aking pananaw kasi pag pinadalhan ka ng higit sa inyong kailangan eh di ka matutotong magtipid..kasi alam mo na may dadating ulit sa susunod na buwan..tama po ba?..sorry to say pero totoo po yun..karamihan sa pilipino pag nasa abroad panay ang bili ng kung ano anong gamit, na di naman kailangan. Dapat i maintain pa rin natin ang low profile dahil hindi habang buhay eh nandito tayo sa abroad.

IPON BATA yan ang goal mo kung ayaw mong tumagal dito.

bibigyan ko po kayo ng ilang tips upang makaipon kayo o ma-manage nyo ang inyong pera.
1. mag open ng bank account sa mga remitance center sa abroad..(pnb, banco de oro, bpi, etc.) mas mura po dito mag open kasi maliit ang maintaining balance dahil sa OFW tyo..o kung magbabakasyon kayo sa pinas dun na kayo mag open kung saan malapit na banko sa inyo.
2. mag open kayo ng 2 saving account isang passbook (tawagin natin acct 1) at isang yung may atm (acct 2)..yung atm eh iiwan nyo sa pamilya nyo para mawithdraw ng remitance nyo.. yung isa ang saving account nyo( take note isang bank lang ang accounts nyo ha)
3. i enroll nyo sa interbanking yung 2 account nyo (itanong nyo sa bank clerk kung paano mag enroll sa internet banking) para maaccess nyo sa abroad yung mga accounts nyo gamit ang internet.(huwag po kayong matakot sa internet banking dahil matagal ko na pong gamit ito at wala naman po ako na encounter na problema)
4. kapag nagpadala ka ng pera, ideposit mo sa acct 1 mo para maipon dahil walang makakawithdraw nun kundi ikaw lang dahil na syo ang passbook.Tapos mag online ka sa internet at iaccess mo yung internet banking mo. Makikita mo yung balance ng 2 accounts mo at pwede mong itransfer yung pera mula sa acct 1 papunta ng acct 2 na may atm para mawithdraw ng pamilya nyo sa pinas. Wala pong bayad ang pag transfer ng pera mula sa accts nyo dahil perahong nasa pangalan nyo yun at pera nyo yun. Ang advantage nito ay mali-limit at macontrol nyo yung withdrawal ng pamilya nyo. At kung kailangan nila pera isang click lang sa internet matransfer nyo agad ang pera at di na kailangan mag remit o mag door to door lagi.
5. Dahil naiipon sa acct 1 yung pera nyo (dahil dun lang kayo magreremit) at sa acct 2 kayo mag transfer gamit ang internet banking. Kayo mismo ang magiipon ng pera nyo. Di po sa wala akong tiwala sa pamilya ko pero mas maganda na ikaw mismo ang mag ipon ng perang pinag hihirapan mo. Total isang click lang eh matra-transfer naman agad ang pera kung kailangan nila.

Sa ganitong systema ikaw ang nagkokontrol ng perang pinaghirapan mo.

Sana po ay may maitulong ako sa inyo sa blog kong ito.


itong pong mga links ng bank na may internet banking

http://www.bdo.com.ph/
http://www.bpi.com.ph/
http://www.metrobank.com.ph/
http://www.pnb.com.ph/

ricomoraga

MC BATCH 1994 REUNION IN DUBAI UAE

We just organized a High School Batch 1994 reunion who are residing and working here in Dubai UAE..We meet and eat at Pizza Hut Karama Branch in Dubai UAE last Dec. 21, 2007..Everyone of us shared their experience (good and bad) here in dubai and also stories from our past high school life..We will organized to have a repeat of this reunion again soon and hope those who are part of Meycauayan College High School Batch 1994 could participate and post their contact nos. here in my blog..or you can contact me 050-8274023