Investments Under In-Trust For (ITF) Account

On my previous post, I have written about opening a mutual fund in-trust for (ITF) accounts for kiddos as Christmas present. As I browse my FB account this morning, I came across a financial group who previously discussed about ITF accounts. 

Opening question: Paano po mangyayari if namatay si parent tapos ka-OR sa account ang anak, would the funds also be included in the estate? Madali lang ba to transfer the account to the child if nag legal age na? 

Book: 8 Simple Secrets To Raising Entrepreneurs

I basically invest my time and money on books. Novels, self-help, financial and parenting are my kind of selections. Books are my best friends.  They are most helpful whenever I need a little push to sleep. One of my best possessions is the GoNegosyo: 8 Simple Secrets to Raising Entrepreneurs. I got it as a birthday gift from Dear Hubby. He really knows me. I would rather get food or a book as a gift.

Walk The Talk

Last Friday morning on my way home,  I chanced upon talking to a friend. She is quite worried on what to wear for their Christmas party. Their company's theme for this year is anime. I told her that there are trendy shops where she can rent costumes. She may get a costume for as low as Php300 to thousands depending on the complexity of the design. Or if she's creative enough, she may just searched online tutorials on DIY costumes. Yet, she is more worried because their boss is asking their department to customize their costumes with their boss' friend mananahi. I told her that's a nice idea so they'll fit their costumes well. However, customizing with their boss' friend mananahi costs Php3,500. What Php3500???? 

True

Photo credit: ANC on the Money

A Different Kind of Gift For Your Child

Photo credit: pbs.org

We can now feel the cool breeze of Christmas. This also means cash blessings on the way. Almost all are very excited to receive (and some just did) their bonuses and 13th month pays. I just heard from the news this morning that half of the 13th month pay of government employees will be given this week. Yahoo!  But before you think of spending your bonuses right there and there for parties, gadgets, travels and appliances, why not "spend" them wisely for the betterment of your future. Specially for parents, this is the perfect time to give a different kind of gift to your kids. Way better than giving out toys, clothes or gadgets (Ipad, newest cellphone model...), why not give your kids something that will benefit them in the future. Let this be the start of their exciting financial journey.  

Nanay is In!

Yes, Nanay is now into investing. 

In my previous post, I have shared how Nanay manage her funds through jar system. All her cash and coins are orderly distributed per use. Yesterday when I visited her and Tatay, she told me to "invest" (she used this term) her allotted savings of my son for his education. I asked her to where? I just want to clarify if she's referring to a specific bank or an investment vehicle she knows. She then answered mutual fund. Wow! Si Nanay alam ang mutual fund. Honestly, I was surprised. I asked her how did she know about investing in mutual fund. Whenever I share to her about it before, she just say "ok". She didn't even care to ask what was it all about or even said something in contrast. " Nabasa ko un Sun Life ni Piolo at naikwento ng Auntie mo maganda ito." So, thank you Papa P for opening Nanay's mind about investing. My aunt is her eldest sister living in the US whom I mentioned sending her monetary gifts. Auntie has insurance and mutual funds with Sunlife in the US. She had explained most probably to Nanay how investing goes when she called a few days ago. 

I don't Take NO for an Answer ( My BDO-UITF experience)

I won't discuss much about the step by step procedures on how to open a UITF account with BDO. There are already countless blogs and sites that you can search on the net regarding those procedures. I would just love to share my experience on how I did open one.