How did you reach your first million?What age and how?Inspirational stories 2

[sparklingjewel]

^That im not sure, hindi ko talaga alam how much the other managers earn pero yung isa alam ko she earns so much more than me. So i would say nasa lower end of the range pa ako, kaya mas mataas increase ko than usual. Equitable sila that way.

[shyreen]

I'm turning 25 and still targeting to have 1M savings. Ang hirap lang sa part ko kasi I'm still supporting my family, naghuhulog sa house, car at life insurance monthly. Although no regrets naman sa mga hinuhulugan kasi dream ko din naman yung mga yun for my family. I just think na medyo matatagalan ako makasave ng ganun kalaki with these monthly expenses. Sana before 30 magawa ko to

[chicafabulosa]

@ sus shyreen, it's fine, dont rush whats important is you are trying your best to save. Kesa dream lang ng dream to save a certain amount but doesnt do anything to achieve it di ba. Don't worry, you will get there.

[emsgalon]

Hi. I just turned 21 this February and been working for 6 months. I'm surprised marami pala tayo na during the 1st year of work ay winawaldas talaga ang money. Reading this thread motivates me to save na. Really happy for those na nahit na ang 1M nila. I CLAIM IT I WILL BE A MILLIONAIRE BEFORE 30 YEARS OLD. My bf is convincing me na maginvest sa sugarcane farming since may lupa sila sa Negros. If this works out, I will invest more pa. I am also building up my emergency fund pa. I only have <50k pero I think I should take one step at a time.


Sis, ano po ibang tips n'yo para may sideline po? Baka po may mga referals dyan? Thanks

[Lizi]

I've mentioned here before that I hoped to earned it til I reach my 30 pero here I am LOL. I'm 30 right now and half a million pa lang ang ipon  Kasi naman kakayanin talaga if I'm not a big spender pero lame excuse yung something came up diba hehe. So no pressure din naman if wala pa talgang milyon it will come at the right time (I hope). Ngayon pa na first baby is coming, mejo matatagalan ulit before I get back on track.

[aNgelofThEMorning]

Nakaka-inspire mga kwento dito..let me share mine..

I was able to buy 2 lots sa province namin when I started working at 21 yrs old. Would you believe sahod ko lang nun 7.5k/month. Hinilugan ko lang sa may-ari ng 1 year. That time lot prices are way way cheaper pa. Sa ngayon wala pa kong balak ibenta yung lupa pero ngayon na 35yrs old na ko, malaki na value ng lupa na nabili ko. Age 25, kumuha ako ng life insurance payable ng 10yrs. Ang liit lang ng kinuha ko since natatakot akong hinde mabayaran, that time nagpa-aaral pa kase ko sa kapatid kong bunso from high school to college. Nawalan ng work papa ko, nagsu-support din ako sa family ko. Last year natapos ko ng bayaran life insurance ko  hinde nga ako aware, kaya pala hinde nababawas sa acct ko since auto-debit sya hehe...

Until now, tuloy pa rin support ko sa mom ko. Binibigyan ko sya ng monthly allowance and pays some of their utility bills.

Got married last year, lahat ng gastos sa kasal kami lahat ni hubby. Walang sponsor and wala din family member na tumulong sa amin financially. 3 yrs before that nakakuha kami ng lot sa cavite, ni-loan namin sa bank for 5 yrs. Ngayon, 2 more years and matatapos na namin bayaran. Next project yung house construction.

I have 2 Mutual Funds and stocks, pero lately hinde ko nalalagyan ng funds since nag-iipon kami para sa upcoming first baby. Marami pa kong kelangan ma-achieve, wala pa kaming emergency fund. And honestly walang kaming masyadong savings,  lahat nasa investments. Hinde ako fan ng big savings na nasa bank lang, gusto ko lagi ilagay sa investments.

Lesson learned: Lakasan lang talaga ng loob. Kung maiibabalik ko lang sana nag-start na ko bumili ng bahay dati pa.

[ayi0119]

30 years old na kami ni hubby pero malayo pa sa 1M.
Pareho kaming hindi galing sa mayamang pamilya. Kami ang gumastos sa sarili namin wedding na medyo malaki talagang gastos. Bumili kami ng sariling bahay (lahat ng appliances at furniture), at sariling kotse. Plus, may 1 anak kami. At medyo maluho din yun mga out of towns namin. May investments din naman kami sa stocks at mutual fund.
Pero I'm happy. Kasi lahat naman ng meron kami ngayon, pinaghirapan namin magasawa. Hopefully, pag natapos na yung kotse, makapaginvest naman for passive income. Sana less than 5 years may 1M na din kami.

[rhumbafrapp]

I earned my first mil at age 28. Pero literal na dugo at pawis. I am a professional pero consultant based, meaning no "real " employers. Walang bonus bonus, walang benefits, lahat wala. Sipag at tyaga lang
How I did it?
1. Save up most of my PFs. Few investments here and there. Work work work by rihanna ang peg ko
2. In my first year of work, I allowed myself na todo luho lang the first 3 months. As in waldas, to satisfy myself (kung sa diet tawag dito gorge myself here) pero after dapat diet mode na sa gastos. I try to limit myself sa daily budget ko
3. I mostly live simply - I don't spend much sa clothes , im okay as long as presentable yun clothes ko, I commute, I don't go out a lot para Kumain sa labas. Pero I have a few splurges din- a designer bag once in 2 years, yearly travels, expensive makeup habits that i am so proud na i have already kicked, uber. Binabalanse ko lang, my motto. Dapat may matira pa sa "daily" pf ko.
4. I take extra work - in my field, sa mga ka age ko na colleagues, few of us do it. Kasi nakakapagod, pero my point why I still do it- kaya ko pa kahit nakakapagod. Pag siguro 35yo na ako tsaka na ako magstop. As long as I am needed, why not diba?
5. The mindset na Hindi porke kaya ko, bibilihin ko- always in my mind yan. Better to have on hand cash than a gorgeous designer bag/new gadget/new car tapos wala naman pala kaya ilabas pagka need maglabas. Another mindset. If you can't pay for it by cash, then you can't afford it
6. It helps if you have simple habits- masaya na ako to read a book, minsan lang ang labas, tumingin online pero hindi naman always bibili, and  things in life that are free. Hindi ako thrill seeker, higit sa lahat wala akong poser mentality, sa tingin ko eto yun pinaka nakakagastos  sa lahat. Hehe

[ember_sky]

Malayo pa sa 1M! haha. pero I'm glad that I was able to purchase a rent to own house (pero balak ko din ibenta) and I have funds sa stock market. Not bad na siguro.

[stylus]

Got my 1M savings before I turned 30. pero yun lang, savings at car lang investment ko. walang bahay.. hehe.

[karenkaren27]

got my first million during my early 20s , i just got lucky i guess, sold a property of a friend and got a huge commission.. after that medyo umalat na,,

[kwang sun]

Nakakainspire naman kayo...huhu...buti pa kayo eh :/... Sa totoo lang okay naman sweldo ko ngayon pero natatakot ako mag invest2 kasi po yung work ko hindi naman talaga ata siya pang matagalan... Online job kasi .. Help i need tips mga sis paano po ba macocontrol ang gastos if nadeprive po ng matagal ang sarili sa luho ? I really really need tips po :/

[BAISANAN]

nice inputs...when it comes to investment like mutual fund kahit na gusto ko undecided kasi
ayokong ma scam. if you have any recommendation post it here thanks.

[kwang sun]

Hello guys , so I only earn at around 13-16k a month.... Can somebody please tell me how to invest wisely? What mutual funds are good to grow my income? What types of mutual funds can I join? How should I allocate my earnings???

[ikaela]

^Investing wisely entails that you have extra money that you do not need for a certain period of time. The longer that time, the better.

If income is the problem, the answer is not to invest but to increase cash flow. Do sidelines, buy and sell things, and/or get a higher paying job while keeping expenses low at the same time.

Once you have a little extra to set aside, the proven best passive asset class that you can invest in is equities. "Passive" being the keyword here, because although you can get better returns in business and real estate, those two require that you put in some degree of work.

So look into equity funds and index funds. Consider the ALFM Growth Fund, Philequity Fund, Philequity Index Fund, Philippine Stock Index Fund, UCPB's Equity Fund, and BDO's Equity Fund. These are the ones that have so far been managed well and have beaten their benchmark, the PSEi.

Choose the one that's most convenient for you to regularly invest in, then STAY INVESTED. Consider the money you put in here GONE. Although investing this way when you are young will not give you cash flow, it will let you take advantage of compound interest and snowball your wealth MUCH faster.

As for allocating your earnings, a good rule of thumb is to save at least 20% of your gross income.

[ikaela]

^Use the caret (^) sis instead of quoting the whole post. You know how these mods are with their community rules.

Anyway, savings could mean your emergency fund, your retirement fund, your investments, or whatever. As long as you're putting that money away, forgetting it, and letting it earn/work for you.

If you want, you can follow the general personal finance advice of saving up your emergency fund first before investing. Here's the Girltalk thread dedicated to emergency funds.

[luna laxa]

Helpful sis ikaela, thank you.

Here's my story:
I have a small business, a clothing brand, which was doing well and my bf (now fiancé) was an employee and was earning considerably well so we really were doing great as finances go. But last year he decided he wanted to pursue his passion which means he'd have to quit his job. Of course I stood by his decision cos I know how burned out and uninspired he was at work.

We should have more than survived that because with his new arts business, he was already making good money the first couple of months. But my bouts with depression was hitting me hard and I really couldn't work, napabayaan ko na yung business ko which is still "on hold" till now.

And so with basically just one income coming in, and with my medical expenses, household budget and car ammort, we are left with no savings.

I'm slowly regaining my hustle back and hopefully tuluy tuloy na. We will regain all the money we "lost".

With all the Make-up, Bags, Skin Care threads, i think this one should be the more active. It's a good platform for us to inspire and motivate one another.