A Missed Opportunity...

Few years ago, an old acquaintance (may his soul rest in peace) mentioned to me that he got a condo unit somewhere in Fort Bonifacio.  He was not a real estate agent (and he didn't need to be one as he was a very well-off man) but he tried to convince me in getting myself a condo there, too.  According to him, it's for investment purposes...

Brilliant idea!  But when I learned that the contract price (at that time!) of units was around a little over one million (as it was on its pre-selling stage then and Fort Bonifacio was not yet as developed as it is now), I backed out!  How could I pay it off with the meager salary I have as a government employee?!  He suggested that I avail of the maximum loan term of say, 20 years, and shorten it eventually when I already have additional means.  The important thing, he pointed out, is I get to own an investment property and start it off with forced savings.  Hard-headed as I always am, I did not heed on to his advise..

Now, I regret that decision.  I heard condo units at Fort Bonifacio cost at around P6 million nowadays.  If only I listened to him.. :(

Money... money... money...

I just could not understand other people who believe that talking about money is a taboo. Living in this real world requires purchasing power to buy things you need (or if you have more of it, you can acquire even your wants). And to have a purchasing power, you should have a medium, and that's money. Unless of course you still live in a stone age wherein bartering of goods was a way of life and money was still unheard of at that time.

To say that money is not important is hypocrisy. If it is not, then why should we still need to earn a living and try to climb the corporate ladder? Why could we just throw away the money we have right now and go to the mountains and live there till we die? We could do the latter but i am sure very exceptional few (if there is any) will take action. Why is that? That is something to ponder on..

Saving vs. Inflation

I know some people who complain that they do not have enough financial means and yet they do not do something about it. They are so conservative that they just put their money at the bank earning a measly interest of 4% less government share of 20%. Unfortunately, that kind of saving is way too low from the current inflation rate of 11.4%, the highest in 14 years as reported by the Philippine Star dated July 5, 2008.

How should one solve this dilemma? Be financial literate. Ask me how..