What got you started into saving and investing?
A lot of lectures and seminars motivated me to save and invest. Most of the lectures in my economics and finance classes showed me the theoretical side and at the same time practical reasons on why it is logical and important to save and invest. On the other hand, the seminars conducted by private institutions such as Sunlife or stock brokerage firms and Ateneo organizations also taught me the significance of saving and investing but the difference is they educated and guided me how to make or create those investments.
Since when have you been inclined to save and invest?
I was a freshman in college when I first attended seminars about investing. However, I wasn’t 18 then so I cannot make investments yet primarily because of the age constraint in signing legal documents.
What is your goal that motivated you to save and invest?
My goal is basically to be financially independent after college so that my mother could build her retirement fund right away. Moreover, I want to take responsibility for my needs in the future so that I can learn how to manage my earnings at a very early age. I think that action would help me be more financially responsible and wise in the future.
Since you’re still a student, how do you manage to invest while still enjoying life in college?
I still spend some of my money to enjoy college. But what I do is I set aside a portion of allowance for my “gimmick” expenses. If I’m already going to exceed that amount it’s either I don’t go, my friends and I find another activity that is less expensive, we find an activity that doesn’t cost anything at all or some friend of mine pays for my expenses.
How has the discipline of saving and investing long-term changed your life?
First, it changed my lifestyle. It gave me this mind-set to buy things that are cheap and functional or simply don’t buy it if you don’t need it. Second, I think that saving and investing made me more financially responsible and independent. I think that I’m helping not only my future family but also my mother by not making myself a burden after college. Lastly, i feel that my future is more secure primarily because at a young age I’m already earning. Even though the earnings are small, I think what’s important is that you’re already earning. I really believe that it’s definitely better than nothing. Besides, you start with small actions and only after you’ve mastered those small actions can you be more efficient and effective in your bigger financial actions in the future.
Are you happy with your decision to invest? Why?
Of course I am happy with my decision to invest primarily because I know that this endeavor will certainly benefit me in the future. I think that aside from the security that it gives me, it also takes away some amount of pressure to make more money in the future for my future needs.
What would you like to tell other college students to help them jumpstart their financial wellbeing?
Being wise with your finances takes a lot of time and experiences. So why not start now so that 10 years down the road you can be a person who is wiser than his peers in terms of handling his/her finances? It can be really tough right now primarily because of the opportunity costs that you are incurring at the moment while waiting for future incentives. However, I really do believe that the rewards are greater in the end, it’s just a matter of discipline and patience.
