As an OFW I can very much relate on this topic OFW Stock Market Investment Tips and Tricks!
Hi fellow OFWs, I am investing in the stock market since 2012. Through this blog post I am hoping that it will inspire people like you to start your own journey towards investing in the Philippine Stock Market.
Even before I fly from our country and work abroad (Kingdom of Bahrain). I already knew about stock market investment because of Bro. Bo Sanchez. In 2012 I enroll in The Truly Rich Club and start investing since then.
But this post is not about me, it’s about you! I want to share with you how an OFW can easily invest in the stock market using very simple Tips and Tricks.
We all know that OFWs like us decided to work abroad for a better paying job. With the most common dreams of providing a better for future for our families left behind.
To start with, here are the OFW Stock Market Investment Tips:
WRITE DOWN YOUR EXPENSES ON A PIECE OF PAPER OR NOTEBOOK
This tip is very easy because you don’t need to spend anything to get started. Why are we going to do this? Because this is very effective! I know you might get frustrated in the beginning but I’m telling you, it pays in the end.
When doing this tip include everything, even the small amount you spend for your personal needs like shampoo, lotion, roll-on, anything, all of them. By doing this for the first time, you will discover that you are already spending more than your income. Don’t be afraid. Do it again next month. List down everything.
The purpose is to discover what expenses you can cut and use the same ‘small’ amount of money to invest.
For example, nothing really is left then maybe you have a loan or debt that will finish in the next 5-6 months. Then wait until you fully pay your loan or debt and use the money to invest.
ACT FAST AND ACT NOW
The fact about OFW is that, we work through an ‘Employment Contract’. In the Middle East it last for at least 2 years.
Act Fast and Act Now means, the moment you start receiving your money on your first contract, save right away and invest right away! You don’t know if you will be renewed or not on the same job.
Don’t wait long before saving and investing, otherwise you will end up taking the latest gadget or buying signature clothes like most other OFWs.
Be focus and share only your investing plans to friends who understand and support you.
OFW Stock Market Investment Tricks:
BE OPEN TO YOUR FAMILY
This trick is very important. Discuss with your wife/husband/children and let them understand that you are saving and investing for your future.
If you think you cannot explain well to them, ask a financial adviser to explain to them. You can ask me too, just let me know through email using our contact form.
Your families support and understand will make your investment easy, faster and successful.
JOIN FACEBOOK FAN PAGES ABOUT STOCK INVESTING
There are a lot of facebook fan pages about stock investing. Join them and make them as your personal support to encourage yourself.
Read and be inspired on true to life stories of your fellow investors. Attach yourself to these fb fan pages rather than using your spare time watching ‘Telenovelas’.
Most of of all, perform well in your job and when your salary comes, always set aside a small amount of money for savings and investing right away.
It’s been a long talk already. For more details on how to invest, visit our Home Page.
Note: If you are already investing, congratulations! Kindly share this to our ‘Kabayans’ who are asking, planning and interested in investing the stock market. Thank you.