6 Where to Invest My Blank Thousand Pesos?

Where to Invest My Blank Thousand Pesos?You just received some huge amount of money that is way above your usual income, and the next thing you'll probably do is ask, “Where do I invest my blank thousand pesos?”

You can do this in two ways: (1) ask anyone (if you know what I mean, it's like asking a doctor for some tips on about farming) or (2)  ask in Facebook groups.

If you do number 2, just wait for a few minutes and you'll get some good, if not the usual answers like “open a mutual funds account!”, “get an insurance!”, “buy stocks!”, “join an MLM!, “invest in yourself! Attend our seminar!”, “open a business!, and a lot of “PM Sent!” (Trust me, you'll get a lot of what I mentioned last.)
Where you are
The fact that you're asking what to do with your money would say that you have zero to little knowledge on the subject of personal finance.

So it's not hard to assume either that you probably have zero to little savings as well. It's OK, we all started from zero at some point, anyway. So let's base the more appropriate answer under these assumptions:
  1. You have zero to little savings.
  2. You have zero to little knowledge how money works.
  3. You got this money from either an inheritance, balato, a gift or a loan (because you applied for a loan without a purpose). In short, you're not expecting the money you just received.
What's the best thing to do with your money
While most people would suggest the samples I mentioned above  (such as investing in stocks, mutual funds, crowd funding, online farming, networking, cooperatives, investment-linked insurance, etc.), I would suggest that you open a savings account (preferably a passbook and not an ATM) instead.

This idea would not sit well for most people, of course. They'd probably go berserk and start saying things like But your money would earn very little on bank interest!, “That's a stupid idea! Why not invest?” and the list would go on.

Please, just hear me out.

Nothing is mathematically wrong with all these advice, mind you. The only problem I have with them is:

They would not work for people who are just starting to understand how money works.

Opening a savings account would increase your psychological wallet. How? Remember - you have zero to little savings, so the point of having a savings account with bigger amount compared to what you are used to would have a significant impact on your financial mindset! It would bring confidence to your financial state.

Psychological what?
Again, psychological wallet determines the capacity of our brain to handle money. In essence, you're actually training your brain to handle bigger money by having a savings that has much bigger value compared to what you normally have. Plus, it saves you from committing mistakes or bad decisions such as impulsive buying (buying things you don't really need) or opening a business just because they said so.

Of course, this is a two-way test - either it increases your brain's wallet or it takes you back from where you started -  zero.

So what I mean by bringing confidence is not going to the  market and not worrying about what to put in your cart because “Hey, I have money anyway!”. Instead, it's the confidence to start investing or trying a business without much fear of failure or losing all your money. For this part, most people would agree that before you start investing, it's important to have what we call an emergency fund.

What's an emergency fund?
It's simply the money you would use in case you badly needed money while your business or  investment is not doing good or is not liquid (easily convertible to cash).
Again, the main objective of this advice is to start training your mind to get used to having bigger money and proper financial mindset.
Did you get that?
Hoping for you,

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  1. Thank you for this advice! It will really help me on my financial status! God bless!

  2. This article is on point. People should NOT jump on something they do not understand. Good Read!

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