What comes first to mind if you have an extra Php 5K?
First off, I'm not selling anything worth 5k. Okay? The e-book below doesn't cost 5k and I'm not going to pester you with it. So, don't worry😄. If you have an extra five thousand pesos, what would you do with it? Three things I often see Pinoys do with their extras--buy extravagant food, clothes or the latest gadget. It's gratifying but not productive. By the way, by "extravagant" eating, I mean unhealthy food. Pizzas, burgers, softdrinks, shakes, milktea, sugary beverages, donuts, etc. Carbs or sweets that lead to insulin resistance.
Photo by John Fornander on Unsplash.
With latest gadget models, they all become outmoded sooner than later and lose value. The battery weakens and everything gets busted altogether. All your Php 5,000 down the drain. Sayang. You know why? Because we often put our money on liabilities, and we don't even realize it. We're not particular about returns with our expense. "What do I get in return aside from indulgence?" We should always ask ourselves this whenever we spend money on nonessentials.
Ways of Looking at P5K
In short, we enjoy trashing our hard-earned extra money. It's been a lifestyle, a consumer mentally ingrained for decades, because we were never taught at home or in school to put money on assets, on what would make us money. We were raised with the orientation to get a job and use the pay to consume products. Period.
Is 5K pesos big money or small? It depends. If we trash it (use it for buying liabilities or things that won't make us money) it's big money. But if it's for business, it's small. Imagine a franchise or sari-sari store complete with merchandise for 5K pesos. That's small.
But if you bought 5K worth of virtual weapons for a PC game, or costly rubber shoes (because you got 3 pairs for whatever reason), it's a big waste, especially if your PC game doesn't make you real money. Or if you don't play basketball at all or you're not a professional player. I see lots of young people waste money like this. Not just once but several times over. A lot of 5K pesos wasted.
Online Marketing is Easy
If you go online, your 5K can go a long way with a business. Live selling is a fad today but it requires a lot of work. You sell and entertain online (often that means worldwide) for at least 2 to 3 hours a day and you need to show your face because you're going live. And yes, you heard me right--you need to be entertaining, which is a hustle for most of us, especially if you get bashers. And no work, no profit.
I have a better idea. Go with an affiliate marketing business. You just create a blog for free, buy a domain name for it (about P500 a year), be an affiliate, and market online via Facebook, Twitter, Instagram or Linkedin. And spend money for ads to get lots of sales.
An affiliate is an online marketer dealing with products a company produces and delivers for you. The company also takes care of inventory and customer service. All you need to do is sell, which your blog and social site ads do for you 24/7. Yup, even as you sleep or take vacations.
And you never have to show your face online or entertain customers just to make a sale. Your blog does all that for you (your blog is your "face" online and the blog design and quality posts do the "entertainment" for you). Joining an affiliate company is often free but there are others with minimal registration fees.
Just Blog
Are you fond of writing or taking photographs or videos? Then put them on a blog and share on social media. You can make money out of this by applying AdSense. It's free. Just make your blog quality and passing AdSense's requirements and they (at AdSense) put ads on your blog. As people visit your blog and visit the ads, you get paid.
Where do you use your P5K? For spending on ads on social sites, like FB. Creating ads sends more traffic (people who visit your blog) to your blog or vlog and that increases the chances of your AdSense ads getting attention and you making more money from it.
Or get a YouTube channel (for free) and post your quality videos there. Have your channel running with AdSense and you make money the same way.
MLM
I know a lot of people stay far away from anything that has to do with MLM or network marketing. I don't blame them. A lot of these schemes are scams, so beware. But not all of them are. I know legit ones that have been in the business a long time and made lots of people turn millionaires, or at least making good money.
Better if you join an online network marketing business because it's lots easier. And almost all MLM companies are online now. However, few MLM or networking businesses charge lower than P7K today. Some even costs P15 to 25K. Some make you pay a lot in exchange for garbage products. So you better watch out. And you better not cry when things go wrong. Remember, all businesses have risks and you have no one to blame but yourself if you don't make money.
The Point Is
The point here is, what do you do with your extra money? Putting it in a bank is one of the worse things you'd think of. Money in your bank depreciates with inflation rates. If the interest rate you get from a bank is 1.5% per annum and inflation rate in the country hits 6 percent, all your money gets wasted in the bank just depreciating. Sayang!
If you're not that excited about blogging or online businesses or MLM but want your P5K to grow, invest it. It should be a good sum to invest in GCash's investment program (Ginvest), or Pagibig Fund investment for its members. Just remember, investment takes time to profit and give you returns. At least you make your money grow. Better than nothing.
I definitely was guilty of spending my hard earned money when I was younger instead of making it work for me. But yeah, I agree that we have to put it to good use like investments and maybe a small business to make it grow.
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