20 British Pound

These money was given to me by my cousin who came in the Philippines from London. If I remember right, it was 2 years ago since they visited here in the Philippines. Anyways, after some time, keeping it inside my cabinet, I’m thinking to exchange it to Peso. It took me that long to decide whether to exchange it or not because I want to keep it as a memorabilia from London. I don’t know whether in the future, if I will have a chance to go in London. (talking about Dream Vacation). yes! It is one of the places I want to visit. Surely it’s anyone’s dream, right? I just thought these past few days that I need to exchange it to Peso because for one I don’t have money anymore. I haven’t find work yet and I’m still jobless for 7 months now. (yah! ultimate bum that I am). I was trying to look for a job, apply here and there but no luck until now. (hmm). Haizt, I think I don’t have any choice right now but to look for other things for me have some money. Too bad I have to resort onto this.

Smart Way to Manage your Money

Smart way to manage your money

These are the perspective of a novice and inexperienced individual, who just want to share his view or so called "my one cent" about how to manage your money in a smart way. It is not intended for reference or as a source of professional information. I'm just here to share "my one cent".

10. Invest in jewelry, antiques and arts.
- If you have a spare money and you're into collecting jewelry, antiques and precious arts, these would be your best bet to get some extra cash. Selling these items would definitely give you an instant cash because it's easy to sell these and very lucrative too.

9. Invest in pre-need plans.
- Though these might not be a good time to buy pre-need plans, still if let say the world economy turns good and rebound from recession, you will be able to use the money you invested on these company in the long run.

8. Buy foreign currencies.
- Yes, that's right buy foreign currencies. Buy currency that has a higher conversion rate versus your own country money.

7. Be common entrepreneur.
- As much as possible be one of those who take risk to open-up a business, though you might not get your investment soon but if you continue to improve your services and products, sooner or later consumers will flock to buy your products and render service from you.

6. Invest in real estate.
- Make sure if you're going to buy real estate, try to review the saleability of the area.

5. Buy Stocks
- Some might say that this is not the right time to buy stock because it is much riskier. I don't think that's the case now. Stock prices are much lower compare before because capital investor try to bargain their stock to attract more investor.

4. Invest in bonds.
- A bond is a formal contract to repay borrowed money with interest at fixed intervals. So if you are a blue risk-taker this one is for you, a faster way to get your investment back.

3. Maintain a savings account.
- It is common for all of us to save money but be sure to deposit it in a bank rather than keeping it with you. Needless to say that it is much safer and you can even get interest from it if you invest in banks.

2. Invest in mutual funds.
- Is a professionally managed type of collective investment scheme that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities.

1. Pay debts.
- It is self-explanatory, if you have debt either be credit card, loans and the same, pay it first or make sure that you separate some amount of your income on paying debts. As much as possible if you have extra money and you have nothing else to use it for, try to pay it on your debts.