Now that you really want to start investing, you must learn first how to save, read my previous posts to learn more. Also, you should research and study first the investment vehicles you want to enter that would suffice you investment objectives and risk appetites.
Make sure that it is legitimate and not a scam. Do your due diligence and be cautious about investments that are too good to be true. There are lots of people became victims of frauds and scams because they are not aware of what are they entering in. Do not be lured with the high returns of scam investments.
One good option to start a legitimate investment is by investing in UITF. Same as mutual funds, Unit Investment Trust Fund is a type of investment wherein fund is pooled from individual investors and invests this fund in securities, bonds, commodities and other legal investments. Normally, you can buy UITF in all big banks in the Philippines like BDO, BPI, Metrobank, PNB and others. Read more : Investment Vehicle 101: What is UITF (Unit Investment Trust Fund)?
UITF is almost similar to mutual fund; the difference is the company managing the fund. For UITF, the fund is normally managed by banks while mutual fund is managed by an investment company. UITF is being monitored and regulated by the Central Bank of the Philippines while mutual fund is regulated by Securities and Exchange Commission.
Before you can buy UITF, it is much recommended to have a bank account first. If you don’t have yet a bank account, you should apply first a savings account at the bank you can trust and near your place. It is easy to open an account especially if you have all the requirements and enough money for initial deposit.
Your bank account will be the source fund when you buy your UITF. It is better to enroll your bank account to online banking account so you can purchase UITF online or wherever you are. By having an Internet banking, you can buy more UITF when times you have more money and even when you are outside the country.
Investing in UITF is one way to make your money works for you. It is one of the legitimate investments available in the Philippines and much recommended for people with full time employment or for those people working abroad.
To know more about UITF, here are my previous posts. Happy investing!