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Investment of Earnings from The Farm
I had some money earned from the farm and I went straight to the bank this morning to deposit it in a savings account. I never hold big sums of money since I am bound to spend it with the little things, and before I knew, it is gone. So oft to the bank I went, and put it in a savings account —it’s out of sight, and becomes out of mind.
I am still waiting for my earnings on another farm, and that goes straight to the bank too. Though, I may play around with an investment of $100 and do stock trades with Tim Sykes when I am already confident to do stock trades on my own . If my farm earnings are higher, I may play around with another $50 investment and buy Brad Callen’s marketing tool. Only that, and no more. I cannot risk more than that amount since I can ill afford it.
If I am still lucky, I may have an extra $15 to buy that website which I saw in warriors forum a few weeks ago, if it is still there. That’s the end of it, and no more.
I always gave lectures on my classes regarding savings for ordinary people. But we cannot let our money go idle by merely depositing in on a savings account. We need to invest it in mutual stocks, small business, and stock trading. For good measure, we have to learn about the mechanics of how the bourses work and all about financial instruments. The next thing we do, is look at our funds, and calculate on how much risk that we can we take.
Remember, that the outcome can go either way — you win or you lose. Once you start trading in the stock market or get into business, you must be prepared that you can lose too. That’s all part of the game. But I cannot be an advocate of this idea on investment, if I don’t put my money on where my mouth is.
Hence, I am preparing for this sort of investment strategy in the next few months.
The Need for Savings Account Deposit
While I was at the bank waiting for my turn, I saw a young girl in her teens holding a bag that was jiggling with coins. She must be a young hawker of goods and was depositing her previous day’s earning in the bank. I smiled with this realization, that such a young girl would have the discipline to save all that she got.
In front of her, was a small boy of around 7 or 8 years old, who was holding a wooden piggy bank. There must be a small hole at the bottom portion, since he kept looking at it. The mom was beside him, but he was the one holding tight to the piggy bank. When it was his turn, he got the plastic chair nearby and stood on it to face the bank teller.
The lady teller was so amused by the young boy’s antics that she offered to help him with the piggy bank. He politely refused and said that he will count all the monies that he had. He knew how to count. All the P1 and P10 coins were lined up to P10 and P100 pesos each and the paper monies were counted — P20’s, P50’s, and P100’s. His mom said that those were gifts to him on his birthday and he kept all of it so he can deposit it in the bank. It must have reached close to a thousand pesos and he was proud of getting his first savings account with his name on it.
If only kids could be taught to save early rather than spend on trivial matters, then it would be a better world for everybody. I can bet my life, that these youngsters are going to be very rich someday.