How am I supposed to invest if I don’t have an income?
Valid question, right? That was what’s been bugging me ever since I was promoted. After months of wondering, I recently came up with a doable solution for my situation.
In my updated IPS, I committed that I will:
1. Invest 15% of the allowance given by my husband.
Apart from the money for the household bills that my generous husband provides, he also gives me allowance. He insists that I spend it with what I need or want. With all that he’s already providing for me, I can’t think of anything that I want to splurge on. Except…
Recent example: My husband gave me Php7,000.00, so I set aside Php1,050.00 for future deposit in our brokerage account.
2. Invest unused coins.
Remember the original plan I had that the unused coins would be for our travel fund? I ditched that. I now set aside the coins that comes my way for investment purposes. The following denomination are invested: 10s, 1s, 0.25s, 0.10s, 0.05s, 0.01s. I use 5s, so they’re exempted.
Recent example: My husband and I ate in a food court. One food stall gave a change amounting to Php5.00 in 1s. The other one gave a change amounting to Php4.00 also in 1s. I set aside the total amount of Php9.00 for future deposit in our brokerage account.
3. Invest the savings on loyalty or rewards card.
Doing the laundry half a day is a thing of the past. DIY Laundry Shops (DLS) rock these days. Yes, I’m a loyal customer of one. Aside from the time I save from doing my laundry in a DLS, I also get to save money. How’s that so? The DLS I frequently visits gives their customers Loyalty Reward Card. The loyal customers will get a free wash load or a free dry load or both upon a certain number of visits. What I do is when I get a free load, I set it aside for investment purposes.
Recent example: I got a free wash load amounting to Php65.00, so I set aside that amount for future deposit in our brokerage account.
The total amount saved with the recent examples is Php1,124.00.
The amount may not look promising at first glance. But when we look deeper, we’ll see how promising that humble amount can be.
(For mobile phones, image below is best viewed in landscape mode.)
I chose the category Personal and put $20* in the amount. I opted for a conservative rate of 5% and look what I could have in 10 years: $3,169.63. That’s almost Php165,000.00. How about in 40 years? I’d have more than a million (in Php)!
I don’t know about you, but I’m grateful that I have a way to make a dent in our investment however small or simple that way seems.
*Nearest amount conversion of Php1,124.00 at the rate of 1 USD = 52 PHP.