Are you cheap or frugal

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I'm a frugal person and I'm proud to be one. I value the quality of everything that I buy because money doesn't grow on trees, right? I make sure that I set aside a portion of what I earn every month. Sometimes I put it in my savings account and sometimes add it to my stock market investment.

Every time I go grocery shopping, I bring a list of things that I need and don't just grab anything that I fancy from the shelves. I compare the price and quality of different brands. I don't exactly buy the cheapest and not the most expensive either. Expensive doesn't necessarily mean the best and cheap doesn't necessarily mean the best value.

So I'm frugal but I'm not cheap. Like for clothes, appliances or furnitures, I don't go for the brand but I go for the quality. If for example I buy audio racks, I won't buy the cheapest if it looks like it's made of low quality material. If it's the most expensive but looks like it's worth the price, that's what I'll buy. I prefer buying expensive clothes because it lasts longer than cheap clothes made with cheap material.

My Maid Invests in the Stock Market

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I just read Bo Sanchez's My Maid Invests in the Stock Market and I cannot help but agree on everything, well almost everything, he said in the book. It's very hard indeed to say "no, sorry, I don't have spare cash", when someone we know needs monetary help. And that's the last we see of our hard-earned money because they either don't have any plans of paying it or worse they get angry when we tell them we need the money already.

We don't all own a very successful business, like a food cart business which is very in-demand right now. So if you want to learn one way of protecting your hard-earned money  and have more funds for your retirement, grab a copy of the book mentioned above. A free ebook version is available at citiseconline.com.

Invest for the Future

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I'm not comfortable with the thought of not being able to buy the things that I want to have, eat the food that I'm craving for and travel to new places that I want to visit in the future. So this early, I don't use everything that I earn. I try to put most of it in savings and investments. I don't buy gold coins but I do buy shares of stocks. I also have some savings account.

I teach my son to save for his future also. He has savings accounts from different banks and he has investments in equities as well. And he's only 10 years old. It's never too early to plan for your future. The best time to start is today.

more investments for the new year

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I am thinking of doubling my investments next year. I am still studying where to invest my modest savings. Buying a term life insurance online is one option. The other is adding more funds to mutual fund investments and some on my online stock account. The market has been uptrend for quite some time now. And my paper losses has been slowly recovering.

It's been proven, through personal experience, that putting money in a savings account is not a good idea. So I just want to leave some in my savings account and invest most of it into something profitable.