Healthy Tips on Money Management for Filipinos

Step 1. Invest in Financial Education:

"Spend" time and effort to research and study on the following important financial planning basics:
 
   > Goal Setting and Budgeting
   > Difference between Active Income and Passive Income
   > Difference between Good Debt and Bad Debt
   > Time, Compound Interest and Inflation
   > Going from Saving to Investing
   > Risk / Reward Trade-off
   > Different Financial Instruments available in the market - (Insurance, Mutual Funds, Stocks, Bonds, etc.)

This "investment" in knowledge will help you make sound financial decisions in the future and will help you avoid making costly mistakes in money management decisions. This is the first and most important "investment" you need to make before you venture out into actually investing (and risking) big sums of your hard earned cash in the business or financial world.

Important Advice: Do not invest in anything which you do not understand.