I am proud to let you know that I've started my very first UITF! If you read my post here, it's one of my goals to open a UITF account. After reading a lot of blogs and joined forums, I decided to open a BDO EIP on EQUITY Fund. The start of the automated payment is on August 30, 2015 for P1,000 pesos. I can't contain my excitement and nervousness at the same time.
I read this post from Fitz Villafuerte, How Do You Make Money From UITF Investing? It is easy to understand because he explained it in simpler words.
I remembered that I usually rant here about my financials and we are just living paycheck to paycheck. And I am happy to let you know that I can stick now on our monthly budget. It amazes me that when I do that, there's an extra money that I can allot to the twins' savings account and to my savings too. It's still small but I am proud of myself for being consistent. It really depends on how you do it. This is my new favorite motto "Its not how much you earned, but how much you keep". I've tried a lot of budgeting plans and you should stick with the one that really works for you. Now I really want to try the "Pay Yourself First" or allot at-least 20% to my savings. It really takes time to do that because I am a mom. My priorities are the needs of my kids. And as you know, raising twins is not easy, it will drain you financially. But I am really blessed that my kids are healthy. No major emergencies. We also have a health card that will cover all health concerns if ever and we can also reimburse any medicines that will be prescribe to us (company's benefit).
Making the first step is the major achievement for me. But I still have a lot to learn. I hope you will also do the same. Let's learn to manage our hard earned money for our future. :)