I bet you didn’t expect that right? Those of you who made it a tradition to line up in Starbucks every year — go ahead! MyManila made a computation and it came to PHP 2,186 for you to get the planner given that you get the cheapest set of coffee. Aside from the cost you also get a whopping 2,205 serving of calories with that.
So why do I suggest you get the planner? Because if I say that it’s just a waste of money, it’s an overpriced planner, it’s a planner you probably will never use, or you get extra pounds just by drinking those cups of high calorie drinks — you probably wouldn’t listen anyway.
If I say that P95 a cup / day is P2,660 / month or P31,920 / year or P319,200 in a decade. Something that can give you at least Half a Million pesos given an 8 – 10% interest rate — would that stop you?
If you make Starbucks your office away from home or the regular workplace and you do it regularly anyway; then by all means make the most out of it. I know alot of my friends go to Starbucks to work (freelancers and self-employed). Some go there just because they can (rich kids ika nga). If you are either one of the two then go ahead! But if you are doing it just because you want to spend without thinking about it or you simply don’t have the budget for it then I suggest you walk as far away as possible.
Please check out my blog on Financial Freedom called Rich Filipino Club.
History has proven that investing in quality stocks can give greater returns than most investment instruments. This offers you the best chance in achieving your financial goals and gives you the ability to later enjoy the benefits of your money working for you.
Growing up in an average Filipino family setting, I never really paid attention in investing. I was under the impression that for me to be successful I need to study hard and get high grades, find a good job, save and go on with my life. Never was I aware (or I guess I ignored it) that saving your money in the bank will only yield a measly 0.25% interest per year. This simply means that your Php100 will earn you 0.25 centavos in one year.
I attended a seminar recently about investing in the Philippine Stock Market and it really was a huge eye opener. Ask any Filipino what’s the US Dollar to Philippine Peso exchange rate and they would give you a somewhat correct number. In contrast, try to ask a Filipino what’s the current inflation rate and you’ll be lucky if he/she even knows what it means.
Inflation in the country is at 4.1% which is still considerably low. How does this impact you and your goal to be financially independent? You’re money needs to earn at least 4.1% this year to break-even and more to earn. Is your money going to earn 4.1% by sleeping in your savings account?