According to Vijay Manoharan, the bank鈥檚 chief executive officer, this may be attributed to the increase of collaborations that they鈥檝e forged with key local players. 鈥淲ith the introduction of new product offerings and more strategic partnerships later in the year, we are confident that we will reach our targets well before the year ends,鈥� Manoharan said.

One of these new offerings is the enhanced UpSave Account, a savings account product. Its 4% per annum interest rate, which is 1600% higher than those of local banks鈥�, is now a permanent feature. They are also planning to expand their customer base, developing products for small-medium enterprises set to launch within the latter part of the year.

CIMB Bank PH was not without its challenges since it launched in 2019. Until now, they are still trying to overcome the market鈥檚 mental barrier in trusting an intangible bank. But by assuring the public of their safety and highlighting their value through high interest rates and zero hidden fees, they are confident in winning more customers over.

鈥淲e are realistic, because [we鈥檙e talking about] a hundred million people, 7,200 islands, and mainly a hundred years of [people] used to be banking in a certain way,鈥� said Manoharan. 鈥淧eople don鈥檛 change in six months, twelve months, two years. So this is a marathon.鈥�

The agreement was inked on January 23, 2020 and was attended by Great Deals E-commerce Corp. Founder & CEO Steve Sy and Navegar鈥檚 Managing Partner Javier Infante, along with their respective teams and advisors.

Great Deals plans to use the funds on capital investments, which will enhance its IT, infrastructure, warehouse capabilities, and technology solutions as it aggressively expands its presence in the country. The company aims to be the Philippine Alibaba and Baozun, China鈥檚 leading e-commerce enabler.

鈥淲e are ecstatic to continue building and implementing successful online retail, distribution and marketing strategies for our 250+ brand clients in partnership with Navegar,鈥� said Great Deal’s Sy. 鈥淭o dominate the market here in the Philippines, we will work closely with Navegar, whose vast experience in building high-growth companies will ensure the continued expansion of our business.鈥�

Sy founded Great Deals in 2014 when — after years as an entrepreneur in the retail and e-commerce sectors — he saw a glaring need to enable entrepreneurs like himself to succeed in the digital economy. Great Deals offers end-to-end e-commerce services, and handles digital content, web design, analytics, chat support, warehousing, and fulfilment. It made headlines in 2018 when it dispatched a record-breaking 114,165 orders in one day. It has since surpassed its own record by facilitating 233,038 orders in a single day last year. Their clientele includes multi-national companies Reckitt Benckiser, Nestle, Samsonite, Reebok, Crocs, L鈥橭real, Abbott, and Unilever.

Great Deal’s new investor Navegar is a private equity fund that invests exclusively in Philippine companies, collaborating with founders and management teams to create long-term shareholder value. Founded in 2012 by its Managing Partners Nori Poblador and Javier Infante, Navegar manages two pools of money with nearly $300 million in assets under management.

鈥淲e are big believers in Steve Sy,” Infante said. “His management style, charisma, marketing savvy and integrity form the bedrock of this company. We also like the fact that e-commerce has tremendous potential in this country. The Philippines has very low e-commerce penetration, at less than 2% of gross domestic product, compared to China’s nearly 40% and 25% in the U.S (according to Forbes). There is no way to go but up for smart Philippines e-commerce. It is just the beginning. The best way for an investor to participate in this upswing is to partner with a successful business that has already established strong relationships with top brands in the market.鈥�

鈥淓-commerce is a sunrise industry in the Philippines, and there are so many looming on the horizon,” Sy said. “Our mission, in Great Deals, is to uplift Filipino lives through the digital economy, harnessing local technology, human resources and boundless creativity to bring the best we can offer to the Philippines.”

You don鈥檛 need a ton of money or time to start trading in the stock market

David Ramolete (a.k.a. King Trade) opened the day with a discussion about balancing stock market trading with a full-time career. According to him, many people are hesitant to become more involved in the stock market because they feel they don鈥檛 have enough money or time. He stressed that you don鈥檛 need much of both to start.
鈥淲hat鈥檚 important is that you start as soon as possible and maximize the power of time and compound interest to our advantage,鈥� he said.
Starting small and just getting the ball rolling is the best move for beginners, he says.

End-of-Day Trading is the busy person鈥檚 tool to gain from the stock market

For people with full-time jobs, Ramolete said, around fifteen to thirty minutes a day would be enough to execute end-of-day (EOD) trading strategies. EOD simply refers to a time in the market where the stocks reflect the closing prices for the day. In the Philippine market, that鈥檚 between 3:17 and 3:30 p.m.
鈥淏eing busy is not an excuse to not earn from the stock market,鈥� he said.
EOD Trading fits most market profiles, from long term investors to short and medium term traders so anyone can profit from it provided they put in the work. What鈥檚 more, EOD trading protects traders from the noise of intra-day fluctuations in stock prices, allowing them to focus on bigger moves and capital preservation.
The only limitation to EOD is that it doesn鈥檛 give much room for high risk trades that reward quick responses and precision timing.

Choose your battles well

Because EOD traders don鈥檛 have much time to monitor market performance, it鈥檚 crucial to make safe decisions to be able to turn a profit. The focus should be on bigger moves, based on patterns like swings and trends.
Look for uptrending stocks that have consistently been hitting higher highs and lower lows over a given period, or stocks that are trading above their moving average. Wait for a breakout before putting it on your watchlist, then plan accordingly.
If things go poorly, set a stop loss at levels you鈥檙e comfortable with. If things go well, sell at the first sign of resistance. Rinse and repeat.

Focus is what differentiates success from failure in the stock market

鈥淲hat is the difference between a market loser and a profitable trader? That one thing that will make you fail as traders. That is a lack of focus,鈥� said Nikki Jurado (a.k.a Nomad Finance Girl).
Newbie traders often get so distracted by obsessing over the most successful strategies and the best performing traders that they tend to jump from one strategy to another.
Develop a strategy that works for you and fits your appetite, and stick to it. To be a successful trader, you must be willing to put in the effort needed to hone your own skills and strategies.

Find your purpose. Focus on the right things

The reason so many people quit trading early, Jurado said, is that they simply don鈥檛 have a purpose strong enough to sustain them whenever they suffer losses. When money is the goal, it becomes much harder to power through a process that may end up losing more money down the road.
鈥淲hat makes people successful is what they do with their time and their money. They live their lives everyday with purpose. They have something to fight for; they have values that drive them. That for me is what makes a successful trader,鈥� she said.
鈥淢oney is never strong enough to make you stay when everything goes to shit. And I鈥檓 telling you right now, everything will go to shit.鈥�

Be welcoming of mistakes and the lessons that come with them

Since much of stock market trading relies on statistics and probability, mistakes are par for the course. Trial-and-error is an essential part of the process, especially when you鈥檙e just starting out building your own strategies. Jurado recommends making as many mistakes as you can learn from.
鈥淢ake mistakes that you鈥檒l never forget,鈥� she said. 鈥淢istakes that you鈥檒l always regret. Unless you make these mistakes, stupid embarrassing decisions, unless you鈥檙e able to go through the shit, you鈥檒l never make it.鈥�
鈥淪o make mistakes, fail often, fail hard, but never quit,鈥� she said.

The goal is growth

Celeste Rodriguez (a.k.a. Rooting for Celeste) said that people who are just starting to trade have to commit to being a student.
鈥淵ou have to have the hunger to keep learning,鈥� she said.
At this stage, the focus should be on building the character and grit you need for success. And that means looking for the best mentors available to you. Positive influence and a supportive community can dictate what direction you go in the future, and is crucial to your early development as a trader.
Rodriguez also recommended establishing early habits like journaling to help navigate what she calls the 鈥淟earning Jungle鈥�, where traders try to build a system of their own.

Test your system and strategies once you have them, but don鈥檛 risk too much

After about a year into trading and finding a system that works for you, you should then focus on gaining more experience, tweaking your strategies as you go. Focus on risk management. At this point, it鈥檚 more about building your own competence and confidence in your system than it is about making money.
鈥淵our goal is to build a system, learn, and survive,鈥� Rodriguez said.
鈥淭he more you know about your methods, the more you figure out what its strengths and weaknesses are. If you know it enough, you鈥檒l know when to play and when to pass.鈥�

Always be conscious of the market and adapt when necessary

When you hopefully achieve mastery of your own system, try to strive for consistency. Just because you鈥檝e become a successful trader doesn鈥檛 mean you can be complacent. Always evaluate yourself and how you perform in the market.
鈥淚t is not the strongest species that survive. It鈥檚 the one that is most adaptable to change,鈥� Rodriguez said.

Set rules for yourself and stick to them

It鈥檚 often easier to find what you鈥檙e looking for if you know how to look for them. This is what Akio Kashiwagi (MoneyGrowers.ph) talked about in his session, 鈥楾he Art of Bottom Picking鈥�. He said that every trader should have a trading strategy, a specific set of entry and exit rules in trading.
Sticking to your rules even if they put you at a loss or you feel like you鈥檙e missing out on a good trade will save you some heartache later on.
鈥淧atience is not inaction. It is simply knowing what you are looking for and taking action at the right time,鈥� he said.

Don鈥檛 compare yourself to another鈥檚 success

What may work for another trader may not necessarily work for you. This is why system-hopping, or frequently changing trading strategies, is so detrimental to your overall growth as a trader.
Kashiwagi suggested that you find a strategy that works best for your lifestyle, your goals, and your temperament, then master it.
鈥淭he biggest determinant of a trading system鈥檚 success is the ability of the trader to follow it one hundred percent.鈥�

Have faith in yourself

The only way to be a successful trader is to build confidence in yourself and your system. Backtest and forward test your strategies. Collect and look at the data. Look at the patterns that form over time. If you鈥檙e unsure, try virtual or paper trading first before you put money on the market.
Once you鈥檝e found a system that works for you, believe in it even in the worst of times.
鈥淚f you trade, you must remember it鈥檚 like a pendulum. You will experience both the extreme sides: the pain and the joy. That鈥檚 how your character will be tested,鈥� Kashiwagi said.
鈥淗ow you will be able to pick yourself up from the bottom, that is the real art of bottom picking.鈥�
 

Pay yourself first

This is the easiest and most rewarding financial habit you need to adopt. Instead of spending money immediately, set aside a portion of your income the moment you receive it. Put it aside. Forget about it. To make the process simpler, you can easily transfer funds electronically from your payroll straight to your separate savings account through your banks鈥� mobile-app.

Ready your list and set a budget

With a little planning and cash management, you can stretch your hard-earned peso and still meet your savings and expense goals. It helps to prepare a list of the people you plan to give presents to and have a set budget for each of them. Various apps such as 鈥淢int鈥� and 鈥淲ally鈥� help you easily track your finances on the go.

Find the best online deals and rewards

Avoid the holiday traffic rush and take advantage of coupon codes, eVouchers, and live discounts up for grabs online. 听E-commerce stores also offer great sales during the holiday season.

Borrow responsibly, if you must

Only ever spend within your means. But if you absolutely need a little extra cash to help you through a month when your expenses are slightly higher than expected, mobile-apps such as are a convenient and affordable solution – offering purpose-based financing with the lowest non-bank interest rates. Cashalo鈥檚 newest solution, Cashacart also makes it easy for you to buy the items you want by providing access to a digital credit line at 0% installment rates from a network of over 250 partner retail stores.
Smartphones can be really helpful tools for developing responsible spending habits, and powerful apps such as Cashalo empower you with more options to be financially prudent. Not only does it encourage you to use your money wisely, it also improves your financial well being by helping build a robust financial identity and positive credit score. 听Being a responsible consumer and making timely payments, unlocks even more financing options providing greater flexibility.

Remittance Stats

A recent study revealed that the remittance sector has grown to a staggering $585 billion industry. In 2017 alone, $439 billion was sent to developing countries, equating to around 700 million families living off of remittance payments globally.
Remittance payments have also become the main source of foreign income for many nations. According to a May report in Forbes, Mexico鈥檚 remittance payments have now superseded their oil industry to become the country鈥檚 main source of foreign income.
Mexico isn鈥檛 alone in their dependence on remittance payments. The World Bank released their 2016 remittance statistics in April of this year. The report revealed that remittance payments are now more stable than private capital flow in terms of international growth. This means that the remittance industry could be a smart investment in most parts of the world.

The High Costs of Sending Remittance Payments

Sending money internationally isn鈥檛 cheap, and non-profits such as the World Bank have been combating these high fees for years. Since 2008, remittance fees have declined 7.32 percent. This decrease saved migrants $90 billion in fees over the same time frame.
Whenever someone sends money internationally, numerous third-party organizations are involved in the transaction. Each verification step adds a small fee to the total cost. In addition, international conversion rates must be accounted for. World Bank reports have averaged these costs to be around 7.45 percent of each transaction processed.

Blockchain Remittance Fintech: Technology to Help Millions

Blockchain remittance companies are taking the industry to the next level by facilitating a frictionless experience for users. Traditionally, international money transfers can take days to complete due to the number of verifications that are required. Blockchain remittance companies provide instant money transfer services.

Remittance Firms: Abra

Africa relies heavily on remittance payments. Until recently, large financial firms, such as Western Union and MoneyGram, dominated the market. This changed when blockchain remittance companies began to spring up across the continent. Firms such as Abra are now changing the local markets.
The Abra platform allows users to transfer money for free across the globe. In addition to these cost savings, users are able to send transactions directly from their mobile devices. Abra offers a direct peer-to-peer money transfer technology that doesn鈥檛 require the use of any bank. And, the platform automatically deposits funds onto debit cards that it provides for users.
Abra is pioneering remittance FinTech with this all-inclusive approach. This non-reliance on the traditional banking system is important in developing nations because they often lack the means to implement the expensive infrastructure required to institute these organizations. By circumventing the current system, Abra users don鈥檛 have to worry about how to transfer money from blockchain to bank account.
Migrants are saving on fees and conversion rate costs by removing the middleman from the remittance system. These savings are too large to ignore, and now, industry leaders are researching this technology.

Blockchain Remittance on the Rise

For the first time ever, this year鈥檚 Global Money Transfer Summit (GMTS) will feature blockchain remittance FinTech. The GMTS is the largest international money transfer conference in the world. Every year, representatives from major financial institutions are chosen to speak at this event.
Among those invitees are representatives from Ripple, Stellar, and Cashaa. These popular cryptocurrency representatives will discuss the future of the money transfer industry and why blockchain technology is an essential path for the industry to travel.

Remittance Cryptocurrencies: Ripple

Ripple (XRP) was one of the first bank-focused cryptocurrencies to enter the market in 2012. Designed primarily for large international inter-bank money transfers, Ripple鈥檚 developers describe it as a real-time gross settlement system. The Ripple platform utilizes the XRP token to facilitate these global transfers instantly.
Ripple has managed to secure major partnerships with numerous large financial organizations including Fidor Bank in Munich, Bank of America, and Santander. In May 2015, Ripple became AML compliant after receiving a $700,000 fine from FinCEN for not complying with the Bank Secrecy Act. Today, the cryptocurrency remains in the top five coins in terms of market capitalization.

Remittance Fintech: A New Horizon

Blockchain technology is transforming the remittance sector, and Ripple isn鈥檛 alone in their quest to service the international money transfer industry. Today, numerous remittance-focused cryptocurrencies are available. You can expect to see further integration of this game-changing technology.
Now that the industry has openly acknowledged the benefits that blockchain technology brings to the table, the demand for blockchain-based remittance services is expected to increase significantly. This is great news for the millions of families that rely on this lifeline to survive.

A version of this story by David Hamilton originally appeared on .

However, things turned lighter in March, with the country鈥檚 business watchdog and the central bank announcing their plan to launch a nationwide campaign to educate Filipinos on digital currencies following the release of guidelines on VC exchanges.

This, according to Peko Wan, vice-president of Indonesian startup Pundi X, 鈥渃aught the attention鈥� of the company engaged in letting blockchain developers and token holders sell cryptocurrency and services at any physical store in the world.

鈥淔or the Philippine market, it鈥檚 very interesting that the government has a friendly attitude towards cryptocurrency companies,鈥� she told SparkUp on the sidelines of a meet-up that the company organized on May 30 in Makati City. 鈥淭his is a very promising market for us to develop. In our roadmap, we see Korea, Japan, Singapore, Switzerland as the countries where we first deployed and now we think maybe Philippines could be part of it.鈥�

Pundi XPOS

The company aims to introduce to the country its blockchain-powered product called Pundi XPOS, which enables brick-and-mortar shops to accept, sell, and buy cryptocurrencies.

While Pundi X has yet to decide on when to launch the product here, Wan said the company sees a huge potential in the country. It aims to deploy 鈥渁t least 100,000鈥� units of Pundi XPOS worldwide.

In penetrating the Philippine market, Wan said Pundi X will leverage on the huge number of Filipino overseas workers opting to use cryptocurrencies.

鈥淭here are over 2.3 millions of documented overseas workers in the Philippines. Some of them choose to purchase cryptocurrencies and send them back to their families. Cryptocurrency can make the cross-border transactions faster and more cost effective,鈥� Wan said in a separate statement.

Wan added that they are considering to tap convenience stores, food chains, and luxury goods stores to become their partners in the Philippines.

鈥淭here鈥檚 a use case for Filipino market,鈥� she said鈥攖he technical jargon simply describing how a user makes use of a system to accomplish a goal. 鈥淲e鈥檒l start from there and when we see good partners we, of course, want to expand our footprints to physical stores to deploy devices,鈥� she said.

Pundi X is also banking on the growing interest in blockchain technology among consumers and businesses in the Philippines, as well as the establishment of organizations like the Blockchain Association of the Philippines and the Philippine Association of Digital Commerce and Decentralized Industry.

Still, as blockchain is still unfamiliar territory for Filipino regulators, she said: 鈥淲e will be very transparent of what we are doing here also we are not involving any money laundering, I think this is what the government is very very afraid of. If there鈥檚 any regulation in place we will comply, that is our goal.

For Lito Villanueva, managing director of FINTQnologies Corp., who entered the fintech space in 2007, the Philippines is poised to become a 鈥渃ash-light society鈥� where people minimally use cash while utilizing digital means of payment.

The reason for this, he said, runs deep through Filipinos鈥� way of handling money.

鈥淔or us to be able to push for a cash-light or cashless society, it鈥檚 cultural and at the same time behavioral,鈥� he said in panel discussion at QBO Philippines, Makati City last May 8.

His first order of business at Smart was spearheading its international mobile financial services. With him at the helm, Smart developed and launched “Smart Mobile Money Transfer,” allowing users to send money using their mobile phone outside the Philippines and vice versa. This venture is among the telecommunication giant鈥檚 projects aimed at innovating ways of providing financial services to Filipinos. Another one is Smart Money, which despite being present in as early as 2000, has still yet to generate more users.

He explained, 鈥淎 lot of Filipinos would still put their savings under their mattresses. There are still a lot of Filipinos who are not into mobile banking.鈥�

Villanueva said the key to 鈥渁ccelerate inclusive financial growth鈥� in the country is 鈥渁wareness鈥� among common Filipinos such as farmers, vendors, and drivers.

A good start in doing so, he added, is to introduce the concept of 鈥渟achet banking鈥� that involves sari-sari stores (neighborhood sundry store) in providing anyone with insurance or investment plan with just as low as 鈧�15 using mobile phones.

鈥淚n emerging markets like the Philippines, such a sachet marketing is the key towards success,鈥� he said.

Still, Villanueva believes that the country is bound to become a cashless nation as many fintech businesses eye expansion in the region.

鈥淭here is the proliferation of the likes of PayMaya, GCash, Coins.ph, and you could see now that there [is] a huge influx of fintech players going into the Philippines. In fact a lot of foreigners who are fintech advocates are now going to the country to start a business because there鈥檚 a huge opportunity for everyone in the country today

For Robertson Chiang, chief operating officer of online payment provider DragonPay Corporation, moving to a cashless society is 鈥渘ot a necessity.鈥�

Fintech platforms are not new to the Philippines, with established companies like Globe Telecommunication running GCash and Mynt and Smart having Lendr and Fintq as part of their business. But Chiang said the country is still waiting for a 鈥渒iller app鈥� that will commonize the use of fintech platforms among Filipinos.

鈥淟ogic would dictate that somehow all of us eventually will be going to that cash-light setup. As to how long that will happen, it鈥檚 really difficult to say,鈥� he said.

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“I will give two facts for the gaming industry in the next couple of years: one, if you’re not accepting Bitcoin cash as a payment method for your games, do it,” Jimmy Nguyen, CEO of blockchain research and development firm nChain Group, said in a panel discussion at the Asean Gaming Summit last March 21 in Pasay City. “Second, think of ways on how your games and game applications can eliminate intermediaries, people or companies in the middle.”

Nguyen emphasized that adapting blockchain will “transform how things operate” and bring “more efficiency” in the industry.

“The power of blockchain is to eliminate intermediaries,” he said. “It started with Bitcoin as a cryptocurrency eliminating the need for a central issuer of money, so you can send money to people directly anywhere in the world.”

He further said: “We foresee a future where [blockchain] technology is able to power Bitcoin cash micro transactions on any browser-based application and that includes games in the gaming [industry] as well.”

Casinos, he said, can even conduct initial coin offerings (ICO) to generate fund “as long as the coin has some technical functions.” Companies, particularly fintech startups, are using ICO to generate funds for a new product by selling their own tokens.

“For example if it can be used in a game that you can’t do with a normal cryptocurrency or you cannot do with a normal credit card or cash payment,” he said.

While experts are keen towards integration of this technology in daily trades, companies may have a hard time achieving it. Regulation and security issues have bombarded cryptocurrencies amid their sudden popularity worldwide, with countries like South Korea, China, and even the Philippines keeping a strict eye on companies involving cryptocurrencies in their operations.

Adapting

Some companies in the global gaming industry are already adapting this concept.

Just this week, an alliance of gaming manufacturers from different countries including China, Japan, South Korea, and U.S., launched GAME CASH (GSH), a unified payment system powered by blockchain.

鈥淸Last year was] a year of explosive growth of games and the first year of wide application of blockchain technology; 2018 will be the year of gaming blockchain,鈥� GSH Foundation said in a statement. 鈥淎s the industry develops so rapidly, GSH, as the most important part of the gaming industry blockchain, will play a key role in the creation of the whole industry prosperity.鈥�

Under GSH, players from member countries can use Game Cash (GCash), a virtual currency based on the Ethernet 2.0 protocol, as a common payment token. They can also exchange gaming coins in the alliance and convert unused gaming coins back to GCash.

鈥淚t [does] not only solve the problem of recharge redundancy and waste, but also greatly improves the player’s confidence and enhances the fluidity across the whole gaming industry,鈥� it added.

The payment system, the foundation said, aims to integrate gaming industry resource worldwide for the creation of a common cryptocurrency payment system through blockchain technology

鈥淭his payment system will make all the gaming channels connected to fully solve the sore points from the industry and the game players,鈥� the foundation said. 鈥淭he gaming industry has been developing vigorously in the past 10 years, but there are endless kinds of malpractices, black box operations, security and user privacy issues, payment problems, etc. With the emergence of GSH alliance, these problems will be solved once and for all.鈥�

In fact, blockchain technology will 鈥済reatly shape鈥� the future of the Philippine鈥檚 financial service industry. This is according to J.P. Ellis, CEO and co鈥慺ounder of Singapore鈥慴ased C88 Financial Technologies that operates digital financial service market eCompareMo, at the company鈥檚 event Finovation 2018 last March 15 in Makati City.

鈥淏lockchain and massively open and secure ledgers improve transparency and intra鈥慽nstitution data sharing,鈥� he said, adding during a roundtable discussion with reporters: 鈥淲e differentiate strongly between blockchain and cryptocurrency. Cryptocurrency in many respects is speculative financial instruments, we don鈥檛 invest in that. However it is built on top of this concept, blockchain, which is essentially an open, public ledger.鈥�

Launched in 2015, eCompareMo is an online financial tool that provides Filipino users with information about loans, credit cards, and insurance policies offered by its partner banks and insurers, to match their financial needs. Since then, the company has tied up with over 20 service providers in the Philippines and has been generating at least a million visits monthly.

While the company is keen to utilize blockchain, Ellis clarified that eCompareMo.com has no plan to involve virtual currencies (VCs) in its operation. VCs like Bitcoin, Etherium, and Ripple are digital forms of money enabled by blockchain.

He further said: 鈥淲e are very keenly involved in financial technology regulations in the entire region, [but] we are not involved in cryptocurencies at all. We don鈥檛 endorse it, we don鈥檛 have a stand on it.鈥�

Alex

But while cryptocurrency isn鈥檛 in the horizon for eCompareMo just yet, it听did听join another bandwagon through this (controversial) technology: AI. The company launched its AI鈥憄owered chatbot called 鈥淎lex鈥� during the event.

The chatbot responds to queries from customers opting to avail financial products available in the platform.

鈥淲e believe that [AI] will be able to solve our customers鈥� needs 24/7. A lot of customer questions are very standard, so this can be automated,鈥� Ellis said, adding that AI 鈥渞educes costs鈥� and cut long waiting time for consumers.

The chatbot, according to Mercedes Limson, chief commercial officer, was built in鈥慼ouse and is proprietary.

鈥淥ur chatbot will also offer products that are related to your needs, and then give you alerts should you need to, say, update your insurance,鈥� Limson said during the roundtable discussion.

Global trends

The company also named three other global trends that will shape the local fintech industry, namely big data, product customization, and information security.

鈥淏ig data [will] improve everything virtually, from parking risk to detecting fraud,鈥� he said. 鈥淸The] ability to offer personalized pricing and more financial product manufacturing is better for customers [while] leveraging cloud [can] move the industry to world class information security and cybersecurity standards.鈥�

These technologies, according to Ellis, will respond to the 鈥渄emand of the market for faster and more convenient ways to accomplish financial processes.鈥�

鈥淏ig data [will] improve everything virtually, from parking risk to detecting fraud,鈥� he said. 鈥淸The] ability to offer personalized pricing and more financial product manufacturing is better for customers [while] leveraging cloud [can] move the industry to world class information security and cybersecurity standards.鈥�

These technologies, according to Ellis, will respond to the 鈥渄emand of the market for faster and more convenient ways to accomplish financial processes.鈥�

Bangko Sentral ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. recently maintained the institution鈥檚 stand on the digital currency, saying VCs like Bitcoin, Etherium, and Ripple are not proper mediums of exchange or investment vehicles. He also expressed the BSP鈥檚 concern on the possible use of VCs in illegal activities such as money laundering and terrorist financing.

鈥淲e earnestly caution the public that before speculating and investing their hard鈥慹arned money in cryptocurrency, as with any other type of currencies, prospective investment should know and fully understand the risks involved,鈥� Espenilla said in his听听in a business forum last week.

Yet despite such critical statements, as well as regulation and security issues, the popularity of VCs continues to grow in the country, with companies鈥攕tartups in particular鈥攑ushing through with initiatives that involve the new form of currency.

Digital Bitcoin exchange service and mobile payment platform Coins.ph, for instance, is not showing any slowdown in its operation. The company continued to collaborate with local business for easy鈥憄ayment methods, with Beep being its latest partner.

With the partnership, Beep card users can already reload using their stored money on the mobile app by just tapping the card at the back of their phone. Beep cards are currently used by a 4 million Filipinos as a mode of payment in Light Rail Transit (LRT) lines 1 and 2 and the Metro Rail Transit (MRT) 3,听Family Mart, Robinson鈥檚 Cinema, as well as in South Luzon Express Way and North Luzon Expressway tollways, among others.

While it does not involve Bitcoin or any VC鈥檚, the deal manifests the company鈥檚 confidence in continuing and even expanding its operation in the Philippines. It also shows the strength of the company鈥檚 other mobile payment services as a source of profit for the business.

鈥淐ryptocurrency is just one product that we offer and in general blockchain technology is not slowing down,鈥� Coins.ph CEO and founder Rone Hose told听SparkUp听during the launch of the deal on March 19 in Makati City. 鈥淭he interest is increasing and increasing. We鈥檙e seeing more financial institution adapting it for cross鈥慴oarder settlements.鈥�

Blockchain is the underlying technology that enables VCs to work. According to Hone, this advancement enables fintech companies to 鈥渇acilitate better and more efficient transactions.鈥�

鈥淥ur core mission is to make it easier for people to access financial services, be it remittance, bill payments, load, and now we鈥檙e getting into transportation,鈥� he said. 鈥淲e look at Blockchain as a technology that helps us provide our services. It鈥檚 more of a means to the end, and the end is really giving people access to banking and other financial services.鈥�

The partnership also marks Coins.ph鈥檚 latest initiative aimed at promoting cashless transactions in the country. The company also previously tied up with Asia鈥慴ased e鈥慶ommerce platform MetroDeal, which allowed the latter to accept Bitcoin as a mode of payment.

Marketplace allows users to buy and sell items directly through their Facebook account, and filter through products that are near their location. It was launched in October 2016, but was only made available in U.S., U.K., Australia, and New Zealand.

In a country like the Philippines鈥攚hich takes the global lead in time spent on social media according to the report听Digital in 2017听with an average of 4 hours and 17 minutes per day on social media sites like Facebook, Snapchat an Twitter鈥攖his could mean that users will now buy items without leaving the app, avoiding sites that are dedicated to e鈥慶ommerce.

The local e鈥慶ommerce industry is putting up a brave face in the anticipated fight to retain traction, as Facebook unveils the service, at the same time taking it as a 鈥減ositive development.鈥�

鈥淸With] 97% of [Filipinos] online being in Facebook, this will allow the Philippine market [to be] more aware of alternative options for online shopping, and make them (market) more familiar [with] how online shopping works,鈥� Mark Joseph Panganiban, executive director of the Digital Commerce Association of the Philippines (DCOM), told听SparkUp听in an email.

DCOM is a private non鈥憇tock, non鈥憄rofit organization whose founders and members include the top e鈥慶ommerce players in the country such as Shopinas, Sulit.ph, Multiply, Ensogo, and CashCashPinoy.

Panganiban said existing e鈥慶ommerce platforms does not see Marketplace as a threat as they 鈥渁lready had it coming.鈥�

鈥淯nderstanding the varying business models and setups, each platform/provider has their own unique online selling and/or value鈥憄roposition to its users,鈥� he said.

Marketplace, he added, could actually help grow the industry 鈥渁s user experience in the Philippines mature and develop.鈥�

鈥淵ou cannot discount the popularity of Facebook, especially in the Philippines. Facebook has the mass market, the tools in identifying potential customers, and touch鈥憄oints among customers and brands/businesses.鈥�

Raising the game

While Marketplace may affect e鈥慶ommerce platforms selling their own products, the direct blow is seen to go towards online classified platforms that share the same business model of generating tractions from outsourced listings.

Singapore鈥慴ased Carousell, for one, does not see Facebook鈥檚 Marketplace as a threat.

A relatively new player that entered the Philippines in 2016, Carousell already boasts of having 4.1. million listings at present.

鈥淎t Carousell, we’ve been anticipating the Marketplace launch in the region for some time,鈥� a spokesperson of the company said in an email. 鈥淲e look forward to see how it grows around the world and in the markets that we operate in.鈥�

To remain in the game, the company is currently looking into new features powered by new technologies like machine learning and blockchain technology, all aimed at 鈥淸improving] the overall classifieds experience鈥� in the platform.

The initiative came after the company launch artificial intelligence (AI)鈥慹nabled features last year, including Smart Listings, which make all information about items sold in the platform more organized and easy to be searched. The AI feature using data also allows the company to know what users buying under each categories will most likely search for.

鈥淭o make the buying and selling process even simpler and safer, we are now exploring how we can make deal arrangements even more frictionless for our users by taking away the hassle of arranging for transactions to take place safely and efficiently.鈥�

Consumer protection

Facebook has yet to implement a systemized way of filtering through the posted products in Marketplace鈥攐ne thing that existing platforms like OLX Philippines and Carousell already have, with the former forming an anti鈥慺raud team that checks all sellers and items posted on the website in 2015.

Instead of the competition that Marketplace鈥檚 presence may cause to the industry, Panganiban said the limelight should be on the implementation of regulations and protection of consumer rights.

He said government institutions such as the Department of Trade and Industry, Philippines National Police, or National Bureau of Investigation鈥檚 Cybercrime Division must come up with 鈥渃reative and user鈥慺riendly way鈥� of resolving disputes that users may experience in using the platform.

鈥淚t鈥檚 an interesting times for the government and the industry. Hopefully, we [can] continually catch up with regulation while improving the overall e鈥慶ommerce ecosystem,鈥� he said.

鈥淭here is no final decision yet as to whether or not the Krop Token is a security,鈥� Calata said in a message to听SparkUp. 鈥淲e have not yet started our formal discussion on this.鈥�

Calata said the company and SEC will have a bilateral meeting to discuss 鈥渕atters where we shall fully present facts about the Krop Token and its issuance,鈥� while maintaining that the commission should have conducted a dialogue with Krops first before issuing the CDO. 鈥淭hat way, we could have avoided the public perception of wrongly thinking that what we were doing was illegal,鈥� Calata said, calling the action 鈥渜uite damaging鈥� to current and future ICOs.

鈥榃E WILL PUSH THROUGH鈥�

SparkUp听asked other startups eyeing their own ICOs if the SEC鈥慍alata issue will change their plans.

Two鈥憏ear鈥憃ld fintech startup Qwikwire said nothing is stopping it in executing听, from which the company seeks to raise $9 million. However, its CEO Ray Refundo said the company may direct the ICO solely to foreign investors鈥攁 safe way of complying with SEC鈥檚 directive.

鈥淚t is very likely that we will block Filipino buyers from participating. But it is not certain yet,鈥� he said.

Pre鈥憇elling of the coin is set to begin on February 26, and regular selling will run from March 26 until the end of April. The app will be launched in September 2018.

鈥淲e will push through with [our ICO],鈥� Refundo said in an email.听鈥淥ur ICO compliance strategy is two-fold: release tokens that already have an immediate utility without waiting for a platform like most ICOs, [making] our token structurally a utility token, and we will only market the platform and its utility, not the ICO or token itself.鈥�

However, Qwikwire is not opposed to regulation. Raf Padilla, legal counsel of Qwikwire, said creating a regulation on ICO is 鈥渆xtremely valuable to finally settle any doubt on the legal status of this new method of raising funds or capital.鈥�

Padilla added that it would pave the way for ICO鈥檚 that are 鈥渄efinitive and legal.鈥� He said: 鈥淭his is a very important development and we should encourage the SEC to carry on. The regulation will also give the SEC the opportunity to define conditions and impose special restrictions that will somehow mitigate the exposure of the public to high-risk ICO investments.鈥�

Meanwhile, Bangkok鈥慴ased Global Crypto Hub also recently launched an ICO in the Philippines, selling its own virtual currency called Usereum for investors and remittance services starting last February 15.

The company aims to raise up to $10.5 million from the ICO, which it will use for the creation of cryptocurrency expo and other cryptocurrency awareness programs, among others.

鈥淲e are not a local startup and we are not violating any laws of SEC by accepting any fiat currency,鈥� Jagdish Pandya, its co鈥慺ounder, said in an email.听 鈥淎ny Filipino can subscribe by sending Bitcoin purchased by them through Phillippine exchanges only.鈥�

Pandya also thinks that a government regulation on ICO and cryptocurrencies is necessary, as well as a tax structure for these trades.

鈥淐ryptocurrency will contribute billions of dollars of turnover and capital appreciation. [Last] year Bitcoin [was valued] from $1000 to $19,000, Ripple touched 3+ dollar, and Ethereum as high as $1,500,鈥� he said.

鈥淲e wish to create cryptocurrency standards,鈥� he added. 鈥淕overnment should invite media, people, and tech experts to give their opinion on formulating policy.鈥�

NOT AGAINST

Despite its strict watch on ICO, SEC previously clarified that it is not against such trade.

SEC Commissioner Emilio Aquino said the commission was simply protecting investors who do not know or understand cryptocurrency.

Aquino also announced that the commission would release within the year guidelines for companies opting to launch ICO鈥檚.

鈥淲e want also to come out with our own set of regulations,鈥� he said in a press briefing. 鈥淲e need to act now because ICOs are sprouting globally, not necessarily in the Philippines.鈥�

After all, with startup ecosystems continuously thriving, ICOs seem to present a way for new enterprises to address the perennial issue of lack of funding. But as in any new thing, it may have to wait longer before tech startups can reap the benefits of this new trade.

So here鈥檚 the basic info:

Used solely through digital platforms, meaning, unlike bills and coins, it cannot be held in one鈥檚 hand. It is used in purchasing products online, and is a form of investment for some because of its fluctuating value. As of writing, Bitcoin鈥檚 value per unit has plunged below the $10,000 from almost $20,000 just before 2017 ended.

The underlying technology behind Bitcoin and other electronic currencies is called 鈥渂lockchain,鈥� a network of interconnected ledgers or data bases that allows the easy access to and transfer of VC鈥檚. (Here鈥檚 a听听about that)

Unlike physical currencies, VC鈥檚 are not regulated by any state or central bank, with the their security and verification as well as production highly dependent on cryptography. Hence, the attempt to regulate companies that serve as trading entities in many countries, including the Philippines.

The Bangko Sentral ng Pilipinas (BSP) in February last year issued an order requiring all VC providers present in the country to be under its watch. At present, BSP is in the process of authorizing 12 bitcoin exchange entities, following the approval of two VC exchanges last year.

The Securities and Exchange Commission (SEC) also recently issued an听, warning the public against investing in initial coin offerings (ICO), the counterpart of initial public offering in the startup scene. The announcement came after SEC鈥檚 previous announcement that it would look into the ICO of KROPS, a digital marketplace for farm produce led by Joseph Calata, chairman of now delisted agribusiness firm Calata Corp. The ICO was, later on, declared illegal.

Through an ICO, startups raise a certain amount of money for a project by selling a VC in return of another digital currency or fiat money. Fintech startup听, for example, last December launched its ICO with an aim to raise $9 million for a new digital real鈥慹state market.

According to Zach Piester, co鈥慺ounder of venture development and innovation firm Intrepid Ventures, the country has a 鈥渞eally large and robust blockchain and [cryptocurrency] community.鈥�

鈥淥ur hope in the ecosystem is that we can create new global financial systems based on the notion of transferring value without [a] third party,鈥� Piester said during the first Blockchain & Bitcoin Conference Philippines last January 25 at EDSA Shangri鈥慙a Hotel in Mandaluyong City. The event drew hundreds of local and foreign Bitcoin enthusiasts.

Jeremy Goodwin, CEO of peer鈥憈o鈥憄eer manufacturing network SyncFab, claims: 鈥淭he reason why cryptocurrencies exist is that they were [a] product of financial crisis in 2008. With the corruption in the financial market and all the untrusted central banking system, they (cryptocurrencies) are [a] trust鈥憌orthy medium of financial banking.鈥� He added: 鈥淭hey can be used and de鈥慶entralized and for which the system is set up by movement undertaken by some libertarians and some technologists who create alternatives to the existing financial, central banking system [in the form of] de鈥慶entralized ledgers.鈥�

For Luis Buenaventura, chief technology officer at BloomSolutions and author of the book 鈥淩einventing Remittances with Bitcoin,鈥� the number of people involved in VC trades is growing because of the 鈥渆xcitement behind the technology and the real鈥憌orld application of what blockchain is gonna do to transform many industries.鈥�

鈥淗umanity has proven itself not up to the task of managing its money. I think that our governments are particularly good at that, and we鈥檝e seen it time and time again,鈥� Buenaventura said.

鈥淎n alternative now exists that we trust more in math, in electricity, and in many ways [cryptocurrencies] feel particularly more sound as a solution.鈥�

Good thing there are investors who are willing to invest some money in new enterprises. But convincing investors to bet on a company, especially startups, is not a piece of cake.

Michael Lints, partner at early鈥憇tage venture capital firm Golden Gate Ventures (GGV), knows this struggle among startups very well. For one, his current job requires him to negotiate with founders where his company can invest in. GGV, to date, has already invested in more than 40 startups in Southeast Asia, including some enterprises in the Philippines such as Lendo, Ayannah, and Carousell.

Lints has also had a fair share of struggle in courting investors back in early 2000鈥檚 when he, together with his two best friends, put up a startup that provided small enterprises with IT platforms. The lack of funds and tractions prompted them to stop its operation in 2006.

In a forum organized by QBO Philippines on January 9 in Makati City, Lints shared some pointers that startup founders should always remember when dealing with investors.

There鈥檚 a lot of money that businesses can get from investors. But the question is, how do you get those money?

According to Lints, allowing investors to invest in a company is more that just about money. Startup founders should, instead, consider it as a form of marriage that will last for at least ten years.

鈥淚t鈥檚 all about the marriage between you and the investors ,鈥澨齢e said. 鈥淭here鈥檚 always this weird relationship between investors and founders because听[when money is involved,]听people feel some form of guilt … But you have to view it as a partnership, and partnership means we鈥檙e building this business together [and that] we want you to be successful. If you鈥檙e successful, we鈥檙e successful.鈥�

Startups should not consider fundraising as a side gig. Instead, Lints said, they should take it as important as their sales.

鈥淸Companies] do fundraising two months before they run out of money, and what happens when you do that, you鈥檙e gonna [have] the wrong partners,鈥� he said. 鈥淔und raising is a part of your business, it鈥檚 not different from sales. Fund raising is something you do every single day. And what does that mean? That means that you do research.鈥�

In talking to investors, he said, startup founders should 鈥渄o their homework鈥� and research by reading about investment鈥憆elated articles that are available online.

鈥淚f a fund is coming, you should know. If a new Chinese player is coming to the Philippines to look for a deal, you should know. You should be the first one to know. The next thing is to ask, how can I find a way to be connected to these guys?鈥� he said.

Before meeting with an investor, founders should make sure that all important files and documents containing crucial information about their company are organized.

鈥淲henever an investor asks questions about your finance, contracts, you wanna answer them fast,鈥� Lints said. 鈥淪o if you take up to two months to answer because you have to look [for an answer], you can鈥檛 find it, that鈥檚 a sign in itself. It basically means you don鈥檛 have your [things] in order. It鈥檚 something that you can solve, but it鈥檚 a worry.鈥�

In pitching to investors, conveying a clear message through a presentation is essential. And, according to Lints, founders can achieve an effective pitch by practicing.

鈥淚鈥檓 42, but every single pitch, I practice. Every single [time]. I wanna make sure that the story I鈥檓 telling is sticking with investors I鈥檓 talking to. Use your friends, relatives, to practice with,鈥� he said, adding that founders can even film themselves while delivering their presentation to make their pitch clearer.

While there is no formula in creating a successful pitch presentation, Lints said a good one should have at least three key contents: context by 鈥渄escribing how the world looks today,鈥� the change that the company introduces through its product or service, and the world after using this change.

鈥淵our company is about making a change because if you鈥檙e not changing anything, that means you鈥檙e not also starting anything,鈥� he said.

He added that presenters should also let investors know how they will generate revenue and scale the business. In proving the company鈥檚 relevance, startup founders should present the growth in traction that their companies have generated.

鈥淚nvestors will always ask about traction. Try to show that you鈥檙e relevant,鈥� he finally advised. 鈥淎nd relevant means yesterday we had 200 users, now we have 400. But don鈥檛 just show growth. Explain why you鈥檙e growing.鈥�

Pre鈥憇elling of the coin will start on February 26, and regular selling will run from March 26 until the end of April.

Qwikwire aims to raise $9 million for its new project called AQwire, a 鈥渄ecentralized app鈥� and website powered by blockchain technology that will serve as a market place for real鈥慹state developers to attract and sell properties to foreign buyers. The app will be launched in September 2018.

Tech startups that utilize blockchain technology are taking advantage of the popularity of cryptocurrencies like the much talked about Bitcoin (whose value, as of writing, is now over $20,000 per coin). In this process, they develop new ways to raise capital鈥攕ome of which going beyond the norm of courting investors or borrowing from the bank.

This ICO process is pretty much the same as the initial public offering or IPO done by established companies to expand their capital by selling a stock to the public or potential investors. In an ICO, however, no share in the company is offered, except for a 鈥渃rypto鈥憈oken鈥� sold in exchange of other digital currencies like Bitcoin and Ethereum to generate funds for an upcoming product or application.

While tech startups in other countries like the U.S. have been resorting to this fund raising process since 2013, launching an ICO is relatively new to the Philippine startup community.

Joining the blockchain space

In Qwikwire鈥檚 case, the company will sell its own cryptocurrency called 鈥淨EY鈥� in exchange of Ethereum, with the equivalent value depending on the latter鈥檚 rate during the selling period.

Users of the app can only use QEY in purchasing properties through the platform.

The initiative marks Qwikwire鈥檚 entry to the blockchain space.

Qwikwire CEO and founder Ray Refundo believes that 鈥渂lockchain is the future鈥� and that it is 鈥渢he new internet.鈥�

鈥淪o many companies have been built on top of the internet; Google, Facebook, Uber. [It鈥檚 an entirely] new economy built on top of the internet. But the internet is a simple thing, it鈥檚 just actually a network of interconnected computers. In the same way, blockchain is a system of interconnected ledgers or data bases. Basically it鈥檚 a new way of processing information,鈥� he explained during the launch held at QBO Innovation Hub in Makati, City.

While not so much applications have been built yet on top of the technology after Bitcoin, which is the first blockchain鈥憄owered app, Refundo said that in the next 20 years, blockchain will be 鈥渁s big as or even bigger than the internet today.鈥�

By using blockchain to run the new app, Refundo said they can validate all listings, buyers, and transactions in the platform at large. And since it is a decentralized system, users no longer need to pay for a middleman that is among the requirements in purchasing properties from abroad.

鈥淸There are] so many problems that can be solved by blockchain, especially when you talk about global commerce or from traveling to banking and finance,鈥� he said.

Here are some ways you could walk through abundance:

Always be grateful.

A quote attributed to American talk show host and media proprietor Oprah Winfrey goes: 鈥淚f you look at what you have in life, you will always have more. If you look at what you don鈥檛 have in life, you will never have enough.鈥� Choose to see what you have and consistently be grateful for them. Maybe you can choose a routine in the morning, like while taking a bath or having coffee: think of three to five things or moments you were really grateful for the day before.

Recognize the power of your mind and mindset.

In 鈥淭he Science of Getting Rich,鈥� Wallace D. Wattles mentions the difference between a creative mind and a competitive mind. With a competitive mind, you have the scarcity mindset where there鈥檚 only one pie. It鈥檚 a survival of the fittest and in order to get a bigger piece, someone else has to get a smaller one. Contrary to this is the creative with an abundance mindset. The source is infinite and there is always enough for everyone.

Be wary of having a scarcity mindset.

Be aware of what you say. Stay alert and avoid using words of scarcity like 鈥渓ack鈥� because that usually goes hand鈥慽n鈥慼and with feeling like something really is lacking. Acknowledge your scarcity mindset and shift your mind and feeling to abundance. A simple example of this is when you鈥檙e at a party. When the host announces that the buffet is already open, fight the urge to run to the buffet table especially if you鈥檙e going to do that because you fear that there it will run out before you could even get your share.

Surround yourself with people who are grateful, creative, inspired and who always looks at the brighter side of things.

Create your own vision board.

It鈥檚 a very effective tool we use and for the past 14 years, we鈥檝e never missed creating our individual personal annual vision boards. We would cut out pictures from magazines of the local and international places we鈥檇 like to visit, put our personal and professional goal for that particular year, including long鈥憈erm goals. We鈥檇 even put the gadgets we want to buy and even the pricey material things we long to have. Through the years, the magazine cutouts turned into collaged online pictures online which we use as desktop, laptop and cellphone wallpapers. We鈥檇 look at it, daydream, and meditate about it every single day. We make sure to feel grateful for what鈥檚 coming our way, as well as those that have already materialized. Believe it or not, after 14 years of doing it, 95% of them actually came true. We didn鈥檛 have much materially, but in many instances, we鈥檇 gotten invites to all鈥慹xpense鈥憄aid trips abroad. In other trips, we would have friends abroad who would invite us to stay with them so we reduce expenses. We spend so much less, yet experience so much more. Of course, while vacationing, our passive income sources continue working for us.

Vision boards emphasize abundance because they are a tangible proof of all the goals we wish to achieve. It鈥檚 easier to channel gratitude and abundance if you can literally look back on your past vision boards. You鈥檒l get to be grateful for all the things and experiences that you have gotten throughout the years.

Investments are items you buy now that will gain money or benefits in the future. Think about the investments you have made in the past. Are they producing the income or benefits you want them to produce now? What are some other things you could put your money on to gain more in the future?

We invited one of our friends, Jim Clerigo, Alveo Land Corporation associate regional sales Ddirector, to tell us more about investing on real estate and what benefits you could reap in the near future.

What is real estate?

For me, real estate is about the future鈥攁 future that is tangible and something that you could actually live in. It also means investment for you and your children鈥檚 children. It鈥檚 all about security really. Your children will have something to inherit in the future, and it鈥檚 an assurance and security you can already provide them now. It鈥檚 like a bank where your money grows but at a higher rate. Banks could close but your properties would stay forever.

How much money do you need to invest in properties?

It really depends on how big your dream is. If you want to purchase properties in exclusive villages or from high-end brands, it will cost you at least 鈧�6 million. With us, reservation fees are at 鈧�100,000 per unit while the monthly amortization ranges from 鈧�50,000 up.

It really depends on what you need and what you can afford. If you want a property but you find it expensive, then work harder to be able to afford it. Or better yet, check your spending behavior. There might be some unnecessary expenses which you can do away with so you can increase your purchasing power on the things that really matter. Your income should at least be 50% greater than your expenses for you to really be able to save up.

What is your advice on money and investments?

If you have the money, choose to invest on real estate. Buy properties you can afford, but don鈥檛 stop there. You should always be on the lookout for new developments. The best time to buy is the first day a project or development is offered to the public. The inventory is fresh and the price is at its lowest during this time. It鈥檚 okay to make sacrifices early in your life so you can reap the fruits for you and your family later on.

Also, buy properties from reputable brands only. It鈥檚 so easy to search which ones can be trusted more. Check first the reputation and track record of the company you want to deal with. Right now, in our country, it is not just about good locations but also about the brands or companies as well.

We are actually pretty lucky that there are many options and ways in order for us to invest our money and make it grow. What鈥檚 important is it is aligned with the goals we set for ourselves and the capabilities we have now. The only way these investments will work for us is if we stay committed to them and if our resources can handle these commitments. Invest on those worthy of investment and reap the fruits for you and your family in the near future.

Jim Clerigo is currently an associate regional sales director of Alveo Land Corp., handling Laguna and Cavite Properties. You may reach him through 0917-5771000 or abclerigo@yahoo.com.

What is saving?

The most basic thing about saving is听that you听really听have听to听live within your means.

It鈥檚听easier said than done because it鈥檚 so easy to spend听nowadays, but checking your spending habits really is the first听and听key step. Know your spending triggers and don鈥檛 spend more than you earn.

Is spending less the only way I can save? What are spending triggers?

Refusing to buy the most recent gadget and resisting to shop over the weekend sale are only a few ways to save.

Another way鈥攁nd we strongly suggest this鈥攊s to make a cashflow list. A cashflow list is basically a table or chart where you list down all your sources of income per month on one side, and then jot down all your expected expenses on the other. Include absolutely everything that you spend on鈥攍eisure, transportation, parking, insurances, business, salaries, tuition fees, loans, clothes, etc. These are your spending triggers. We have听a sample and听an entire list听below so you can create a more comprehensive list听for yourself.听By writing them all down, you can easily see where your monthly money really goes.

Art听

Jehan听De Guzman is a full鈥憈ime advisor and manager at Sun Life Financial.听From being a project manager in a bank to being an interior designer, De Guzman听eventually found purpose and fulfillment in听being a financial advisor as she takes听part in improving financial literacy among Filipinos. As clich茅 as it may sound, she proudly claims that finding a job you love is indeed possible.听If you wish to contact听her, you may reach her听at听09156488284听and听jehan.deguzman@gmail.com听and听jehan.z.deguzman@sunlife.com.ph.

We would also like to thank Sun Life Financial for the infographic shown in the article.

Art听

Am I financially independent?

Living the condo life is a statement that you are already capable of sustaining yourself and covering for all your expenses. Before making the move, however, make sure that your resources will allow you to do so. Whether or not you do decide to get the entire amount from your savings or from loans, be sure that it will still leave you financially stable and healthy.

What is my credit history?

Getting a loan may be an option to finance your condominium purchase. Banks assess your capability to pay back your debt through your credit history as it is a reflection of your financial capacity. Check your credit history with your corresponding bank and have it available upon request.

Can I afford it?

Having your own place and being independent do not simply mean just paying for the downpayment and all the remaining balance for the next years. Paying for the condominium is just the first step. You have to make sure that all the other expenses鈥攗tilities, monthly amortization fees, association dues, daily expenses, etc. are all accounted for. Make sure that all these are included in your budget as you transition to the independent life.

Art听

What are the rates and fees?

Residential and commercial areas have different rates. Canvass and ask around before getting a condo deal. The rates and fees may differ depending on how valuable the location of the condominium is. Ask about the necessary rates you would need to pay and take the time to learn them all. If anything, condo life should be able to train you to becoming more diligent with your expenses.

What are the rules? How will I ensure my safety?

Each condominium will have its own set of rules and policies. Study them. All of these terms exist to ensure the safety and security of everyone in the building. Make sure that the building has a good security system and is accessible to the police station and fire department if needed.

How do I get the best possible location?

Lastly, scout for a condominium that will give you access to all the establishments you would need 鈥� markets, groceries, drugstores, church, convenience stores, hospitals, police stations and fire departments. A pad that is in the middle of all these places will surely come in handy for midnight snack emergencies or legit life鈥憈hreatening emergencies.

These are just some guidelines to help you assess and decide if condo living is for you. What鈥檚 important is that the condominium you do decide to live in will be a home fit to your personality, your budget and your lifestyle. It will, after all, be your future haven, so make that dream come true in the best possible way. Consider all factors and decide wisely. We鈥檙e pretty sure that with these in mind, you definitely condo it!

We all have big, big plans for our first salary, which for fresh grads on their first job sounds like a lot of money. But if you鈥檙e like most people, then the more you earn, the more you may end up spending, because finally you can buy that cool gadget that you鈥檝e been eyeing for so long, or those fresh pair of kicks, or eat at this pricey but trendy restaurant. And then at some point your parents will expect you to chip in with the utility bills, the rent, your younger siblings鈥� education, existing family debt, and so on. Poof! There goes your first salary.

That just seems to be the thing with our generation. We have big, big dreams according to our听. Topping Filipino millennial search trends are arts and entertainment; hobbies and leisure; travel and tourism; computers; family and community; vehicles; fitness; apparel; finances and of course, mobile phones. We want to spend, spend, spend, but we can only earn, earn, earn so much before we succumb to our physical limits.

Self鈥憇tyled 鈥�40鈥憏ear鈥憃ld millennial,鈥澨�Sun Life Asset Management Company, Inc.听(SLAMCI) bank and alternate distribution channels head Gerald Bautista, who is also the fund advisor of听, shared some of his pro tips on how to make our first salary grow to fit our growing needs during the听听on October 26 at the Pan Pacific Hotel, Manila.

How? Through investing, of course.

鈥淚t鈥檚 easy to get money from our ATM, it鈥檚 so accessible,鈥� Bautista said in his explanation on how investment can make our money grow. 鈥淏ut if you have a piggy bank like a mutual fund that鈥檚 meant to achieve your life goals, then you let it stay there and you only break it when you actually need it.鈥�

An example he gave was that of a 23鈥憏ear鈥憃ld whose goal is to visit Japan. If he invested 鈧�5,000, and then diligently invested 鈧�1,000 every month (which is equivalent to saving approximately 鈧�35 daily), assuming that there鈥檚 a 10% interest in his earnings throughout, then he would have 鈧�47,000 by age 26. By age 28, it could get him a return of 鈧�83,000, enough money for a trip to Japan.

鈥淭hese are certain habits that you should do. You can鈥檛 just invest money one time,鈥� Bautista said. “You have to save regularly… If you don鈥檛 put money in regularly, your 鈧�5,000 after a few years will just amount to 鈧�7,000.鈥�

鈥淭he most important thing to remember is you have to make investing very consistent. For example, the 5鈥�3鈥�5 formula,鈥� he further explained, 5鈥�3鈥�5 being the 鈥渕agic number鈥� to growing an investment fund. The 5鈥�3鈥�5 formula essentially boils down to investing 鈧�5,000 initially, and investing 鈧�3,000 monthly. The financial expert swears that you鈥檙e sure to see a growth in your investments in five months.

Another thing that鈥檚 important: start early. The longer your money is invested, the more your savings grow.

And what better time to start investing than when you earn that sweet, sweet first paycheck, when you have all the money of a working member of society with less of the responsibility. Bautista shared this simple investment breakdown to cover how you could ideally invest your first paycheck and still have money left over for all the fun things you want to do.

Art听

Let鈥檚 do the math, shall we?

Let鈥檚 assume that you got a job with a starting salary of 鈧�15,000 and the听听has passed, which means that you fall under the bracket that won鈥檛 have to pay personal income tax and will be able to take home all of your money.

Under Bautista鈥檚 breakdown, you will be investing 鈧�1,500 in a mutual fund for long鈥憈erm goals for your dream car or wedding, another 鈧�1,500 for your travel plans, and 鈧�3,000 to your future home. Another 鈧�1,500 will be invested in insurance, in case something happens to you. A mere 鈧�750 goes to another mutual fund for short鈥憈erm needs, in case you want to switch jobs, or (God forbid) you get fired. That leaves you 鈧�6,750 cash in your ATM for your personal enjoyment!

And now that you鈥檝e started, all you have to do is top鈥憉p regularly, at smaller increments if you want. Then you can enjoy what you earned while having money saved up for the future at the same time.

鈥淚ndecision is the thief of opportunity. I don鈥檛 want you guys to procrastinate,鈥� Bautista said, quoting the late American entrepreneur Jim Rohn. 鈥淥nce you get your first salary, you really have to be mindful and start investing. These will fund your life goals five or ten years down the road.鈥�

鈥淵ou have to make sure that money is working for you through proper investment means.鈥�

For more information on SLAMCI鈥檚 investment platforms and get more investment tips, visit听.

If you鈥檝e ever stretched your allowance until the end of the week, subsisted on fishballs, or regretted an impulse buy, dear, maybe you need some intervention.

Art听

Happening on October 26, 2017 from 9 a.m. to 3 p.m. at the Pan Pacific Hotel in Manila, the Sinag Students Summit will gather financial industry leaders to talk about the following topics: the importance of financial literacy, Filipinos鈥� financial behavior, and a student鈥檚 guide to investing. There will also be a panel discussion on reporting a story and advocating a cause.

Register through听. For inquiries, contact Lalie Novero at pnove@sunlife.com or 0998-849-5991

The Bank of the Philippines Islands Foundation (BPIF), through its BPI Senior High School Acceleration Program for Employment and Entrepreneurship (BPI SHAPE) program has partnered with key schools in Taguig and Laguna to provide assistance in coming up with the financial literacy curriculum for senior high students. In an interview with听SparkUp听during the BPI SHAPE Business and Academic Fair at SM Aura Premier, Taguig City last September 28, officials from BPI and the local government of Taguig spoke about the benefits of this partnership between one of the largest private banks in the Philippines and the government.

鈥淲e found out that there鈥檚 a real need for Grades 11 and 12 students to learn basic financial literacy if they plan to pursue corporate or employment, and of course entrepreneurship skills if they would go for that track,鈥� said Anika Daudem, program manager of BPI SHAPE. 鈥淏ut aside from that we also encourage students to take the subject even if they plan on going to further studies like college or vocational courses.鈥�

鈥淭he financial literacy module of BPI SHAPE will prepare them for life once they earn their own income. So it鈥檚 really about personal money management, savings, basic modules on investing鈥攈ow to maximize what they鈥檙e going to get once they enter the real world,鈥� Ms. Daudem added. 鈥淚t鈥檚 focuses on the personal finance of the students.鈥�

The executive direrctor of BPI Foundation, Maricris San Diego, herself helped shed light on how BPI and possibly other players from the private sector can help in the Department of Education鈥檚 (DepEd) K鈥�12 program. 鈥淲e embarked with a tie up with the City of Taguig and the Department of Education to help them enrich the K鈥�12 program and cope with the changes that happened. Because part of the goal of K鈥�12 is to reduce unemployment in the Philippines by making sure that our graduates are prepared for employment or entrepreneurship, and of course higher studies,鈥� Ms. San Diego said. 鈥淭he private sector, especially BPI Foundation through BPI SHAPE is really complementing the program that DepEd has already prepared for the K鈥�12.鈥�

There are three ways that partnership with BPI SHAPE will enrich the education of senior high school students: through theory and academics, through practical sessions, and through partnerships and linkages. For theory and academics, BPI SHAPE has developed entrepreneurship and personal development modules specifically for the classroom set up and will train teachers on how to implement these. 鈥淭hereby the students can learn more about themselves and be able to choose which track they want to take in terms of further education, employment, or starting their own businesses,鈥� Ms. San Diego explained.

For practical sessions, BPI will bring in representatives from private companies and individuals who have set up their own successful businesses to share with the students what they鈥檝e learned on their way to success. Finally, for partnerships and linkages, BPI SHAPE will link the schools to companies who are willing to partner with them for the 80鈥慼our mandatory work immersion for senior high school students.

As for training the teachers, Ms. San Diego said that they are planning to have a bootcamp session. 鈥淭eachers can learn not just from us but from each other, to share techniques on how to teach the different modules and also to learn from private practitioners on the skills that we are trying to impart the students,鈥� the BPI official said. 鈥淲e will also invite leaders from student councils so that they will be well鈥憆epresented.鈥�

The partnership with two schools in Taguig and three schools in Laguna is just the start for BPI SHAPE. 鈥淚n the next year we鈥檙e looking forward to expand it to the whole LGU: all 22 SHS in Taguig and hopefully all the ones also in Laguna,鈥� Ms. Daudem said. 鈥淥nce we perfect that model, we will expand that to a bootcamp approach that we will partner with other LGUs for.鈥�

And then maybe, just maybe, we can finally learn about money from school.

We鈥檝e listed the common mistakes of millennials in managing their finances and we hope that you won鈥檛 ever find yourself saying:

Art听

Most millennials think that budgeting your money is only a strong suggestion. Wrong! Budgeting is a must if you want to manage your finances properly. And we鈥檙e not just talking about saving enough money for the next travel or weekend sale. We鈥檙e talking about thinking way beyond your next paycheck.

Budget your money and allot certain amounts or percentages that you are willing to spend for each need and want. By assigning these caps or limitations, you鈥檒l be able to say which expenses really are your non鈥憂egotiables and which aren鈥檛. But more importantly, make sure you stick to your budget!

Art听

Credit cards are your best friend and worst enemy. Never put yourself in a situation that you鈥檒l get wild swiping that plastic left and right. With the emergence of tons of online stores that pop on your screen every few minutes, self鈥憁astery and self鈥慶ontrol will definitely be a challenge, but one that can be done with the correct mindset. Remember, the key here is moderation. It鈥檚 okay to use your credit card once in a while, but just make sure you don鈥檛 overdo it or else you鈥檒l be feeling much regret once that bill arrives.

Art听

Most of us prefer to not think about these things or at least postpone thinking about them for a few years. While medical and life insurance may not always be a priority, it鈥檚 wiser if you start them early. After all, nobody really gets faulted for being prepared way too early, right? Check out our previous column on life insurance听.

Art听

Sure, you won鈥檛 be retiring in the next five to 10 years, but it鈥檚 never really too soon to prepare for it, isn鈥檛 it? Imagine, if you live until 80 and will be retiring by age 60, that鈥檚 20 years of your life without a job! And 20 years鈥攖hat鈥檚 roughly your age now. Most young adults postpone planning for their retirement plan because they think that it鈥檚 decades away anyway, but what they鈥檙e not taking into consideration is the power of compounding interest. Compounding interest could be your ally especially if you鈥檙e about to start planning for your retirement. The earlier you think about your retirement, the better.

These are just the common traps that we hope you never find yourself saying. After all, if you really want to do a good job at this #adulting thing, you really have to start acting like a responsible one.

We invited her to tell us more about insurances and how we, too, could protect ourselves. Read on to know more!

Joisce, tell us more about insurances. What are they and is there only one kind of insurance?

Insurance is a significant financial tool to protect and secure your and your family鈥檚 future by transferring an individual鈥檚 risk of losses to the insurance company.听 It is a protection coverage for damage, loss, illness, death, or return of premium payments, depending on the case or type of insurance product that you have.

There are generally two kinds of insurances: life insurance and non鈥憀ife insurance. Life insurance can further be divided into two classifications: traditional and variable. Traditional Insurance is purely life insurance while Variable Insurance is life insurance with an investment component. Variable Insurance gets you protection coverage and allows you to grow your funds at the same time.

Non鈥憀ife insurance is basically an insurance policy to protect an individual against losses and damages other than those covered by Life Insurance. The coverage period for most non鈥憀ife insurance policies and plans is usually one year where premiums are paid on an annual basis such as for automobile or property loss or damage.

What are the benefits of getting an insurance?

Insurance is the basic, most significant part of your investment portfolio. It is a significant tool for Retirement Plans, Estate Planning, Mortgage Redemption, Asset Protection, Wealth Building, Business and Employee protection coverage among others.听 It serves a great purpose in fulfilling your and your family鈥檚 needs in life, business, finances. Isn鈥檛 getting an assurance of protection for yourself and for the people who matter to you the best benefit you could ever get?

The insurance will surely help protect me and family. How do I purchase an insurance policy?

In purchasing an insurance policy, you can easily set aside a minimum of 鈧�1,500 every month and get a lifetime of protection while you grow your money at the same time. It is a basic and important need for you to secure and protect yourself and your family should possible circumstances take place.听Nowadays, insurance policies are very affordable and should be taken advantage of. There are a variety of insurance options available today. There is even a low annual premium which could provide you with life鈥憀ong protection while allowing you to earn through the investment fund of your choice. Definitely a win鈥憌in situation for you, right?

Most of the time, we find ourselves investing on various products, properties, and gadgets. A new technology is marketed and we find ourselves eagerly waiting for its release. We search and search for things we want to put our money on when we sometimes even forget the things (and people) who really matter the most. If we can invest on these things, then there鈥檚 even more need to prioritize investing and protecting our own lives.

Ms. Abiera may have been doing this for only two years now, but she has made it her personal advocacy to share the idea of saving, investing, growing one鈥檚 funds, protecting and securing individuals and their families. She is dedicated and passionate about assisting people in achieving the kind of lifestyle they have always dreamed of. Aside from being a Licensed Real Estate Broker, getting people to ensure their future fuels her passion for financial fitness.

We are so excited to announce that Ms. Abiera is offering to provide free financial advice to our readers! To get in touch with Ms. Abiera, you can send an email to thesimplyj@gmail.com or visit her website at听听or call her directly at 0915鈥�513鈥�5000.

Can you imagine making promises for a living? You help people make choices in the present in order to assure them and their families a fund which they can use should the unexpected (like passing away) would happen. Making promises and collaborating with people in keeping these promises are Jon Pineda鈥檚 profession and vocation. After a colorful career in advertising, brand management, and sales, Jon has found his purpose in making promises for a living. For the past five years, he has been fulfilling these promises as a life insurance advisor.

Define life insurance in the simplest terms.

Life insurance is the trade of an uncertainty (passing away unexpectedly) for a certainty (a periodic premium payment). It鈥檚 a promise made by an insurer to pay a significant agreed鈥憉pon sum in exchange for a periodic fraction of that sum. To put it simply, it鈥檚 paying 鈧�2,000 per month now and for a couple of years, in exchange for a permanent tattoo that says 鈥渋n case of the inevitable, please tell my wife that I own a promise from someone to give her 鈧�2,000,000.鈥�

A life insurance policy, therefore, is considered by the financially savvy to be the foundation of any sound financial portfolio, particularly by parents. It鈥檚 the single financial tool that multiplies the value of 鈧�1.00 by hundreds of thousands, even millions. There are specific kinds of life insurance that are designed to be there up until the day a person dies. Whether it be at 35 or 95, the amount paid is still the same. It鈥檚 like giving 鈧�2,000 per month for 10 years in order to gain 鈧�2,000,000 million for your family鈥檚 future.

Is it necessary?

Many people think of insurance, particularly life insurance, as an expense or a 鈥渘ice to have鈥� that deserves to be at the bottom of the priority list. Sure, we all want to spend on things we enjoy and while that is understandable, it is also necessary to think long鈥憈erm. Let鈥檚 stop for a minute and think, why are we working today? Is it really for myself, to satisfy my pleasures and to help me gain experiences? Or is it to pay for the mortgage, the tuition, a trip with my wife, our family dinners, braces for my teenage daughter, etc.? What if suddenly I can鈥檛 work anymore, what happens then? Insurances are necessary because it promises your family a secure future. You can actually make that possible for them with a life insurance.

How much life insurance is enough?

The true question to be asked really is 鈥渉ow much would you want them to have to live the life you wanted for them?鈥� Sure, we want our family to have as much as there could possibly be when we do pass, but a good advisor will ask you counter and follow鈥憉p questions in order to reach a more specific, fine鈥憈uned purpose for your insurance policy. Your life insurance is based on your goals and needs, and its policy is customized for you because we completely understand that no two people鈥檚 needs are the same. This is a decision you will have to make with the help and guidance of your advisor.

Determining the 鈥渞ight amount鈥� is a skill set honed by life insurance advisors who have embraced their role in society. We may be pariahs at first, but our belief in what insurance really does鈥攖o protect a family from financial ruin鈥攊s a noble cause that makes our career worth enduring. Stories in the insurance community about families鈥� lives being touched and promises being kept, all while earning a decent (and oftentimes great) living are what really fuels me to keep my promises in return.

Securing a future for your family relies on a decision you make in the present. Talk to a life insurance advisor who does this for a career. Find someone who will make a contract with you and one that will see to it that your family is well鈥憄rovided for, because in the end, our promises to our family live long after we do. They deserve the life you鈥檝e always envisioned for them because you worked to make and keep a promise for them.

For free financial planning consultation, get in touch with Jon Pineda by texting +63917鈥�533鈥�3461 or sending an email to jon_pineda@manulife.com.ph.

Most of us are dead鈥憇cared of debt. We鈥檝e associated credit cards with fear, and rightly so: many people end up with piles upon piles of unpaid bills, whose interest seems to compound endlessly.

One of those people who fell through that financial trap is Sha Nacino, a motivational speaker who recalls getting buried in credit card debt as a young professional, particularly during her first year as an employee.

It took her three years to zero-out her debts, but she eventually found her way out. 鈥淚t was gruesome, but worth the journey just the same,鈥� she says. 鈥淭he drawback inspired me to read books on money, attend seminars, and seek mentors that would help turn the situation around. There was no way but up!鈥�

In this interview, Ms. Nacino talks about finance, happiness, purpose and success principles, and how she became a financial literacy advocate who鈥檚 written and published more than 10 books.

Art听

What is your secret to handling your own money?

Whenever I receive money, I set aside 10% as my tithe then I allocate certain percentages for my fun fund (vacations, eating out, etc.), investment fund (mostly stocks for me and my younger siblings), savings (liquid money), charity fund, business fund, learning fund and the rest is for my personal expenses. It makes managing my money so simple and effective.

I believe that we are stewards of money. Therefore, we should use it well and use it to serve God and others.

What is the biggest reward you鈥檝e reaped from your struggle with money?

After that incident (of getting buried in credit card debt), I found my passion and made a commitment to share financial literacy to as many people as possible. This burning desire inspired me to write a book on money that would help young professionals who, like me, struggled to survive. It was in the process of writing my first book that I fell in love with writing and it brought out even more passion in me that I ended up developing a systematic way of writing a book to teach non鈥憌riters to write books.

To date, I have written and published books which tackle different ways to earn money, manage one鈥檚 finances, and why and how you would eventually want to write your own book to share your story.听Some of my books are 鈥淢oney & Me, How to Earn while on Vacation鈥� (you can听听it for free), 鈥淗ow to Make Your Dreams Come True鈥� with a review by Brian Tracy (also听听for free), 鈥淗ow to Write a Book Even if You鈥檙e Not a Writer,鈥� 鈥淲hy You Need to Write a Book鈥� (again, a free eBook you can听), 鈥淚s it Time to Quit Your Job?鈥� and many more. Most of my books are about personal financial management and making your dreams come true.

Aside from your remarkable way of handling your own money, how else do you become a steward of money?

I use my money to serve God and others. Being a steward of money means you go beyond yourself to help the person next to you. This is exactly why I ended up writing books, giving talks, teaching people how to write their own books through The 90鈥慏ay Book Writing Challenge (shanacino.com/write).听These activities allow me to inspire other people through my words and works. 鈥淚 write听because听I care and I have a message to share鈥� and I feel good every time I write and publish a book that could bless someone. It gives me a different high when I鈥檓 able to help someone write a book and share his idea to the world.听Kind of like giving back and paying it forward. Wouldn鈥檛 it be nice to dream for ourselves and for others this way?

Any words of wisdom for young professionals who may be stuck in a money rut?

Invest in yourself. Do not let certain challenges stop you from trying. If you find yourself in a pitfall鈥攖he same way that I have鈥攐vercome it! These challenges push you to keep learning, so keep learning you shall. Learn and grow not only for yourself, but for others as well.

We鈥檇 like to thank our good friend, Sha Nacino, for being inspiring us and many Filipinos. If you want to know more about Sha and order her books, feel free to visit her website at听听or email her at sha@seminarphilippines.com.

SHARON ON BUSINESS IDEAS

Getting into business isn鈥檛 all about franchising millions鈥憌orth brands, especially if you are just entering the industry. With just 鈧�5,000 as your capital, your business may just be the next big buy鈥慳nd鈥憇ell store or a go鈥憈o鈥憇upplier of chains and chains of restaurants in a matter of months or years. There are dozens of businesses you can get into and all you have to do is match your skill set with a need or demand.

If you鈥檙e into doing the easy day鈥憈o鈥慸ay, you can start with the sari鈥憇ari type of business. When there鈥檚 a demand for tingi or small amounts of cellphone load in your area, get a spare phone and do a pasa鈥憀oad business. In small communities, you can even be the taste of the town by cooking delicious flavored fries, street food like fishballs and squidballs, or grilling some tasty barbecue.

If you are into retail like selling shirts, bags or shoes, get into buying wholesale items in cheap markets and sell them directly online, or approach stores that can afford to get you as their supplier. With this, you dictate how high the mark-up will be and have a regular, stable cash inflow.

If baking and cooking are your hobbies, turn them into money鈥憁aking businesses. Consider being a distributor of cookies and cakes. A friend of mine buys and sells sausages to restaurants and even offers to get orders as their official supplier.

Just imagine how much your initial money can grow with just finding that sweet intersection of skill and need.

CLARISSA ON INVESTMENT SUGGESTIONS

A mutual fund is one kind of investment where money is pooled from different people and then invested in stocks, bonds, short鈥憈erm money market instruments, and/or other securities. Here, a fund manager pools funds or money from clients, trades its underlying securities, realizes capital gains or loss, collects the dividend or interest income, and then distributes it among the investors. This is exactly what my father did with my money when I was in sixth grade. He introduced me to the stock market. My dad acted as my 鈥渕iddleman鈥� and pooled what little I had with his to make our investment higher, allowing him to use it on companies that had higher yields. My initial capital grew and grew until it taught me to invest on higher stakes with higher returns.

I did some more research, decided on a handler who I trusted, and learned that I could start with 鈧�10,000. Harnessing my discipline, I saved up for it and dove right into my very first, independent investment. But I figured that the larger the amount I put in, the bigger the returns would be. I then committed to regularly adding as little as 鈧�1,000 to my fund. Every month, I set aside 鈧�1,000 to 鈥渢op up鈥� my account, knowing that it would be put to better use in my mutual fund rather than leaving it in the bank to collect dust. Someone once told me that putting money in the bank was as good as putting it under the bed. It was a dead鈥慹nd deal, while doing mutual funds鈥攖hough small and incremental鈥攕till allows it to grow.

Fortunately, in this day and age, there are actually more options open to fresh grads, or anyone who wants to start small. Even the stock market has opened its doors to accommodate people from all walks of life. Agents or brokers, like COL Financial, have made it more accessible to the working class by putting the information on the Internet for people who want to study and trade in the market. They even have 7鈥慸ay trials for people who want to get a feel of trading with no strings attached. With as little as 鈧�5,000, you can try the stocks yourself. Every day, someone can earn from the stock market and that someone could be you.

There鈥檚 no shame in starting small because that very first step is what will eventually get you to your desired goal. Whether it鈥檚 鈧�1,000 or 鈧�100,000, what鈥檚 important is as you decide to take on the challenge of growing your money, you also commit and allow yourself to grow with it. Remember that all this will be a learning process for you. You don鈥檛 have to get it right and big the first time around. It will be an exciting journey ahead so take the risk, make that first step. Even your shoe will tell you to 鈥渏ust do it.鈥�

In the past few weeks, has a friend sought your advice on something? Have you given him good recommendations, suggestions or solutions to his problems? Has it ever crossed your mind that what you have done is actually an opportunity in both making a difference and making a fortune?

Brendon Burchard鈥檚 book entitled 鈥淢illionaire Messenger: Make a Difference and a Fortune Sharing Your Advice鈥� tells us that all of us have a story or a message to share. The experiences we鈥檝e had and the learnings we鈥檝e gathered in the creation of our personal narratives could actually impact the world and add value to other people鈥檚 lives. What鈥檚 even better about it is you can actually earn from it! We are all messengers and we can be millionaire messengers at that.

How do we become Millionaire Messengers? Burchard shares with us a 10鈥憇tep program to follow.

Know your message.

What topics are you capable of discussing and are passionate about? Which one of these will help or impart knowledge to other people?

Choose your message鈥檚 recipients.

Who are the people you鈥檇 want to reach? To whom will your message be relevant the most?

Understand your recipient鈥檚 problems.

What are the struggles and challenges your recipients have encountered or are currently encountering? Get to know their pain points and what obstacles are hindering them from what they want to do.

Craft your message.

Develop your personal story and identify what difficulties or challenges you share with your target audience. It is important that your story will shed more light to their stories.

Package your message.

What channels or media will you use in order to share your message and story? In what manner would you want to send your message鈥攚riting, speaking, consulting, coaching, online marketing, delivering lectures, seminars, webinars, etc?

Develop your medium.

Once you鈥檝e identified the medium that will best suit your story and personality, start creating it. In our case, we鈥檝e chosen to showcase our many messages and stories through our website, Lifestyle Upgrade 101, and our books, 鈥淚 Wish They Taught Money in School鈥� and 鈥淢oney Grows on Trees.鈥�

Sell your message.

Promote your message and let everyone know what it is you offer. Provide them with relevant and quality content. Let your audience know that your message is something worth receiving.

Boost your credibility.

Your recipients will need to know that the messenger is trustworthy. Get their buy鈥慽n by providing them with free content at the beginning. Convincing them that you are worth their time will eventually push them to consume your content even at a price.

Promote your message with the help of others.

Get other people to talk about you and what you do. Tap other institutions, groups or individuals, who would expand your message鈥檚 reach into their respective networks. Make them your partners.

Repeat and expand.

The idea is to not only settle with one message but to keep on building your offerings as you go along. What other messages or products could you share with your audience? Keep revisiting your story and always find ways to build your message. Stay relevant at all times.

Right now, we are currently delivering our messages and stories through writing, speaking and marketing online. The journey to being millionaire messengers have been extraordinary and we look forward to doing more and more in the years to come.

Follow these steps and keep on working on your message. We鈥檙e sure that soon enough, you too will have books and websites to make a millionaire messenger out of you.

In the meantime, we await the arrival of your message.

Clarissa Seri帽a鈥慸e la Paz and Sharon W. Que are financial literacy advocates and the bestselling authors of 鈥淚 Wish They Taught Money in School鈥� and 鈥淢oney Grows on Trees.鈥� Check out their books at听.

While it is conventional to work five days in a week, 鈥淭he 4鈥慔our Work Week鈥� author Timothy Ferriss believes that it鈥檚 possible to gain much more by working much less. In the book, Ferriss shares that in order for you to truly achieve your goals and dreams, you have to be a lot more efficient with the use of your time and money, and this is possible through two interesting life hacks: a muse and a VA.

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Muse

It is common for us to think that doing business is time-consuming, but Ferriss believes that businesses do not have to kill so much of your time and effort. This is possible through a muse. A muse is basically an online business, a money鈥慻enerating vehicle that will allow you to earn without having to spend as much time as an 8鈥�5 job. Having an online business will allow you to reach more people and gain more customers because the world is your market and you can earn in multiple currencies. You are not bound by a geographical location and you can work on the business remotely. Location and time freedom for you, automated income for your finances. Definitely a win鈥憌in situation.

Virtual Assistant (a.k.a. VA)

Aside from a muse, Ferriss advocates for outsourcing your life by hiring a VA. The VA will work on the day-to-day while you work on the big picture of the business. Having a VA and delegating tasks will get you to save time and money, and will liberate you from the daily worries that someone else can do for you. Not only does this give you the freedom you need, but also disciplines you to work more efficiently and responsibly.

We actually took Ferriss鈥� advice and got ourselves VAs. Our VAs develop our website, maintain our social media accounts, create and manage our Facebook ads, write for us, design for us, and sometimes, even reply to emails for us. Because of this, we save a lot of our time and we then get to focus on the actual meat of our business. Talk about working smart, right?

Like many life hacks we often hear and see, Ferriss shares with us some tips that will get our businesses and lives rolling in the most efficient of ways. However, it is still important to note that while these hacks could work for him and for us, results and experiences will differ for each person. We recommend that you try these out and get to learn more of what works for your experiences and businesses to find your most efficient hacks. More than anything, Ferriss invites all of us to be as adventurous and brave as he, because who knows, that little life hack, that little extra might just be your key to becoming extraordinary.