My Love for Personal Finance

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Since I posted that I’ve been buying and trading US Stocks via Gotrade, my friends and my daughter have been asking me about trading. Zeeka (my daughter) came up to me one night and asked me why I constantly check weird lines that go up and down on my phone. I said, “Honey, I’m checking the market”. Then she asked me what’s the “market”. So I gave her a simplified version of how purchasing stocks work, in a version where she put up a hotdog stand.

This led me to think about writing this article. Growing up, I wasn’t really exposed to how money works. I just knew that I needed to make lots of it, because that’s what people do. People around me were always saying they wanted more money, my parents were encouraging me to save, etc. And, having a lot meant I get to buy all of the toys, gadgets and clothes that I wanted.

I knew about savings and my parents taught me to save money in the bank under time deposits. But they never really taught me about index funds, bonds, stocks, mutual funds, etc. I was around 27 years old when I made my first personal purchase of an investment + insurance plan from one of the big insurance companies in the Philippines. Every month I would deposit a minimal into this plan (with no fail), and thankfully, today, I can use it for anything in the future, like my retirement or my kid’s education.

This started my love for personal finance. All of these seemed so interesting! I found friends who I got to learn from and who shared the same interest. Learning about growing money excites me. LOL! I know it’s a weird thing to say, but to me, it’s a game. It’s a game where you’re competing with a lot of different factors, testing out different moves and strategies.

Don’t get me wrong. It wasn’t always fun. There was time when I found myself close to a million pesos in credit card debt. It may be small to a few people reading this, but I’ve never had debt that huge in my entire life. I managed to wipe off that debt in one year, and I’m super proud of this.

I don’t have dreams of becoming a billionaire. I’ve never been that kind of person. My dreams are more for my children (if you’re a parent, you’d understand this) and for the world. I really, honestly-to-goodness want to help in making this world a better place, and I chose my niche. My heart goes out to MSMEs and freelancers out there because I have been where you are at a certain point in time. I understand the struggle, the hustle, the pain and the triumphs that these people go through.

So in terms of personal finance, I’d like to share with you some of the things that I’ve done that has helped me grow my money and not stress about finances in the recent years:

Be Honest with yourself

If you’re in pain because you’re bleeding out money and talking about personal finance gets you down, face the problem and understand why you’re in this situation. What helped me a lot is tracking my inflows and outflows. If you are married or live with your parents or siblings, it’s best to have track household budget and expenses, too. My husband and I track our own expenses using a Google Form. Here is a template that you can use: TRACKER It’s easy to make a tracker like this. Just go to Google Drive then create a Google Form. Once you have created the form, share it with the person who you want to track the household budget with.

A huge part of our revenue goes to mortgage (but that’s a given). What I realized from doing this is that I spend a lot on food. LOL! So from knowing this behaviour, I’ve become more intentional about splurging on food. We only splurge when their’s a celebration and only try to order food when it’s the weekend.

Never compare your life with others

I love looking through Instagram, Facebook, TikTok, Youtube and there are times when I honestly compare myself and what I have with others. It’s so tempting, right? When someone else has that new iPhone model, or a bigger house or when someone else has a stock portfolio of a $1,000,000, you can’t help but wish, when is it going to be my turn. But what I have learned is that our lives are different. Whenever I’m tempted to buy, I ask myself, will this be something that I really need in my life (channeling in Marie Kondo). Sure, a few thousands of pesos will definitely bring more comfort. But if you stress yourself out in the journey getting there, is it really worth it?

Rules I Follow when I invest Money

We all know that cash in a savings account is obviously safe, but that’s it. Nothing happens to your money, because interest is so small that you don’t really feel it grow. Plus, over time, money really depreciates in value. So the trick is really to place it in a vehicle that earns more than the yearly inflation rate at least. This is why I have learned to be more open to risks.

My first rule in investing is to know how much risk are your are willing to take. Don’t invest in something that you haven’t researched or read about. Also, don’t invest money in high risk vehicles because you can lose all of this in an instant.

My second rule is to diversify. We scattered our funds and have investments in PH and US stocks, mutual funds, high-yielding savings accounts and crypto.

And my last rule is to never invest in something that you don’t understand. Don’t get me wrong. You don’t have to be an expert on investing, but read up or watch videos online. There are a lot of resources online that will teach you about investment. Don’t get left behind, too, when it comes to knowing about what’s happening around you. There are a lot of fake and crazy news that you’ll eventually read — a lot of scams, too. So learn as much as you can, ask friends or people who have tried these investments out and practice caution (but not to the extent that you’d rather keep your money under the mattress).

I hope you liked my thoughts for today on personal finance. I am not a financial expert so these are really general tips and the things that I shared and will share with you are really based on my own experience. Having said that, for those who would love to learn about Crypto Trading, you can start by reading this article:

It’s about how to get started on Cryptocurrency trading using Binance. Binance is the main platform that I use.

Let me know if you have other topics (personal finance is so broad) that you want me to discuss, zoom in on, and talk about.I also talk about finance on my TikTok channel so you can follow me here: https://www.tiktok.com/@gingerarboledatv

‘Til next time! Happy investing!

How to Buy Crypto Currencies 101 on Binance

I recently just learned how to buy Crypto Currencies on Binance (All thanks to my friend and co-founder, Kevin). I never really thought of purchasing digital coins before, because I had to pay my loans and we had a lot of things going on. Now that I have paid all of my credit card debt and I know that I can pay it off fully every due date, I had a little bit of cash to test the waters and buy coins.

For all beginners reading this, it fine if you want to test is out and buy crypt currencies with only $50 (around Php 2500). From my research, what investors would advice beginners is to test the waters first using up to $250 dollars first. Figure your way out first and learn how to use an exchange like Binance.

Since this is a post on how to start with Binance, let’s get started.

How to buy crypto currencies on Binance

Step 1: Sign up here This link will lead you to Binance. Have the following by your side when you sign up: Passport, Proof of billing like utility bills with your name and address and download already the Google Authenticator App from the App Store or Google Playstore. So be ready with these things as you will need to have yourself verified and this is the first step on how to buy crypto currencies.

Step 2 (Feel free to skip this if you wish): Once you are verified. Go to the TASK CENTER. From what I know you will see this. One of the tasks that you haven’t complete yet (of course) is to “Buy at least $50 worth of crypto” and you will get a beginners pack. The beginners pack is actually 1000 BUSD which is almost or most likely equivalent to 1000 US Dollars that you will need to keep for 7 days in Binance Earn (sort of like the savings account of Binance). You can’t withdraw or transfer your Trial Fund but you’ll enjoy the annualized interest generated by the subscribed Savings product with the Trial Fund as the initial capital. Basically, what this task shows you is that Binance has other features like this. I bought USDT since I thought initially that you can transfer it and use it to buy coins. I suggest that you try it out with BTC or Bitcoin instead.

Before we proceed on the steps on how to buy crypto currencies, let’s go through some definition of terms first. Bitcoin or BTC was the original crypt currency so you’ll see a lot of reference to it. Account balances are show in BTC, too. The other coins in the market such as Ethereum or ETH, Binance or BNB, DOGE or SHIBA INU or SHIB (or whatever coins you may have heard of) are called ALT coins. Now there are also STABLE coins like USDT or USD Tether and BUSD which are close to the amount of the dollar.

What I do is that I buy stable coins first then convert it to the coins that I’d like to buy when I want to or when it hits a certain price.

STEP 3: To buy STABLE COINS (what I use is USDT), just click on Buy Crypto and you can use any of these. I use Credit and Debit Card. P2P trading is where you buy from another person.

For P2P, this is how the screen will look like. Set the currency to PHP and choose how you want to pay the other person for buying your stable coin.

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Some reminders, which I learned from Ken Ken, one of my friend who is into Crypto Currency trading, you have to check on the number of orders and the percentage completion of the orders. The higher the number of orders and rate of completion, the better it is to deal with that person.

Step 4: Once you have your stable coin in your Binance account, it’s time to purchase a currency. Before purchasing though, please do your own research. You can check out https://coinmarketcap.com/ I’m not here to tell you what to purchase, but please do read up before buying. Also, only use funds that you are willing to lose. Truth be told, I’m just experimenting right now and in the same stage as you, so I am not in the position to give advice.

So let’s proceed on how to buy coins on Binance. There are multiple ways to purchase a coin.

A. Go to Wallet then click on Fiat and Spot. It will take you to this page. You can either click on Buy or Trade your USDT for BTC.

how to buy crypto currencies 2

if you chose Buy, it will take you to this page where you will can directly purchase the currency that you like.

how to buy crypto currencies 3

B. My recommendation though is to click on TRADE after you have purchased STABLE COINS. You can watch my friend Marvin’s video on why here: https://www.youtube.com/watch?v=uv7UULOQ-7Q

So when you click on trade, (in this example, I want to buy BTC/USDT meaning I will trade my USDT for BTC), it will show me this page.

It looks complicated but just read up more on trading. I will try to invite a person to interview to talk about crypto currency trading soon on my Youtube channel. If you know people, please recommend them to me too! 🙂

Anyway, scroll down to the fields below.

For this guide for Beginners, I’ll talk about Market and Limit. Basically, when you click on Market, you buy (or sell) based on the current market rate. You will just need to place the amount of USDT that you are willing to spend, just like this.

Then just click on Buy BTC and voila! You will have that crypto in your Binance Wallet.

Now for limit, if you have an idea of at what rate would you like to buy (or sell) this currency, place the rate in the Price field and then move the line to how much of your USDT are you willing to spend when the price reaches your indicated price.

In this case, you are willing to spend 82% of your USDT when the price reaches 56500.

Step 5: To check if it’s in your wallet, just click on this – Wallet >> Fiat and Spot or click on Overview.

So that’s it for today. I hope I explained clearly on how to purchase crypto currencies on Binance. Again, if you don’t have a Binance account yet, you can click here: https://www.binance.com/en/register?ref=O3SBEE8M

Please check that you are in Binance.com since there are some phishing sites that replicate Binance.

If you have any questions, feel free to comment below so that I can help you out or I can get someone to help you out! haha! As you know, I’m just still starting like you.

Why did I start purchasing Crypto?

I just thing that the time will come when most of us will be using this as currency. Right now, I don’t really see myself day trading this, because I know that I am more likely to hold on to these currencies and see what will happen. Plus, I know that I have a lot to learn still. So… let’s learn together. I wanted to start with the topic how to buy crypto currencies, but I promise to share new learnings with you.

Learning Snippets: What is a Cryptocurrency and Bitcoin?

This year, I thought of sharing snippets of information that I get to learn about. The first one that I’d like to share and talk to you about is  CRYPTOCURRENCY and BITCOIN. There is much talk about bitcoins and cryptocurrency. Of course, I also wanted to know and study what these were!

Ayoko ngang magpahuli! Plus I wanted to know why my husband was constantly borrowing my laptop to “mine”.

What I did was I watched Banking on Bitcoin on Netflix. Here’s a trailer:

What is Cryptocurrency?

Cryptocurrency is a virtual or digital currency protected with cryptography. This feature secures transactions that are made online. Bitcoin is a cryptocurrency developed by Satoshi Nakamoto back in 2009. It functions like a real money but does not come in printed form. It can be used to buy anything online like book a hotel, buy gadgets, equipment and a lot more. The transfer of funds is much easier and cheaper due to absence of extra fees for wire transfers (more to be said about that, but that was the original intention).

Here is a short video about BITCOINS:

Others trade it. Trading of bitcoin in different currencies occur in marketplaces called “bitcoin exchanges”. Some examples of these marketplaces are Bitfinex, Bitstamp and Coinbase, which is taking the lead.

Bitcoins are stored in the user’s computer or cloud storage. This serves as the “wallet” or “virtual bank account”. It is where bitcoins are being received or transferred, withdrawn or deposited. To transfer bitcoins, just use a mobile application or the computer.

It is not regulated by any institution like the government or bank. It is checked-and-balanced by different people on different computers. Everyone validates everyone else. This is where mining comes into the picture. Mining is basically checking if the ledgers are correct. As for regulation, governments of China, Japan and Australia are now considering to regulate the system and the currency. Others are seeing the possibility of adding tax to it.

Anonymity of the owner of bitcoin is another feature. All transactions that were ever made online using a bitcoin are stored in a ledger called the blockchain. Although transactions are recorded, the personal information of the users is anonymous. Names and addresses are not revealed. It only shows the wallet IDs of the users.

That’s my learning snippet for today! I hope I helped you, even in a little way, to learn more about Crypotocurrency and bitcoins.