By: MJ Gonzales | Executive Chronicles
Making money requires plenty of time and focus. It’s the simple truth why some finds excuse not to think of investing, aside from having not much money to invest. The good news is there are means to invest that only need little to zero time and probably, budget friendly for you.
- Subscribe to Online or mobile banking
The ads about banking using internet and an app on mobile phone of bank companies that shared they offer convenience are true. You don’t need to go in line in any centers just to pay utility bills and yes, even brokerage and insurance companies. Thus, check if your bank firm allows you to transact online and your investment company is enrolled in their system.
On the other important note, the online issue such as phishing is also possible so you have to be very careful and learn to preventive measures to avoid them.
- Enroll in automatic debit arrangements
Local banks also offer automatic debit arrangement so you don’t have a problem in case you forget to transact. It’s good, especially if you’re investing in the products of your bank such as Unit Investment Trust Funds (UITF) or mutual fund.
- Learn Easy Investment Plan
Easy Investment Plan (EIP) programs of banks and investment institutions are perfect for newbie investors and for those who find investing require big initial capital. Banco De Oro’s Easy Investment Plan will let you save and invest starting from Php1000 contribution per month. You can schedule how often and when you want it to do it. Since they also offer “autodebit,” they automatically deduct Php 1000 from your savings or payroll account. Just remember that like Bank of the Philippines Islands (BPI), BDO will only put your money in the Market when you reach Php 10,000. Their EIP helps you to save Php10,000, the usual initial amount to join for mutual fund, slowly and conveniently.
Another firm that’s known offering EIP (their version is called Easy Investment Program) is Col Financial. Though they don’t have automatic debit arrangement, they offer EIP scheduler and automatic buy of shares. Their system will remind you about your investment plan (either stock market or mutual fund) through your email and if you log in on their website. Furthermore, they also automatically deduct from your fund the amount you set to invest so you all you have to do is put fund in your Col Financial account. If you have internet or online banking facility, it’s going to be easier to fund this.
These are just few know programs, you can scout more legit easy investment schemes where you don’t to devote much time and money to build your wealth.
