I recently enrolled to one of the saving scheme of HDMF Pag-Ibig Fund which is Pag-Ibig (MP2). Pag-Ibig MP2 lets you save money with the highest interest rate per annum as compared with bank. Once you are employed, you can immediately enrol in this program straight to Pag-Ibig branches. The catch is, you have to save money for a minimum of five years. Yes, five years. It’s similar to a time deposit. You can check out these sites to further learn about Pag-Ibig MP2.
The Entire Blog Post is Updated: September 9, 2017
Happy saving.
Update: August 8, 2017
The Entire Blog Post is Updated: September 9, 2017
• Learn directly tru Official Pag-Ibig website
• Check out this site which elaborates the program a bit more
In case you are wondering, Pag-Ibig MP2 is different with Pag-Ibig 1. Pag-Ibig 1 is mandatory by the government whereas, Pag-Ibig MP2 is completely voluntary.
I highly suggest you do this because;
1. In Pag-Ibig MP2 the money is safe (there is no chance that your money will be lost cause it is guaranteed by the government)
2. It is sure to gain interest. Check out their interest report for 2016.
Right now, I intended to save money for my future in case I needed something important that needs funding, but I didn’t go all in. Remember that Pag-Ibig MP2 is like time deposit your savings will stay there for a minimum maturity of 5 years. I separate money for my immediate need (like for example planning to go back abroad) either way whatever your plan is, saving in Pag-Ibig MP2 or any saving platform lets you give a little bit of freedom of what you want to do in the future.
Let me share to you some of the common advice I read from social media;
Roberto Kiyosaki (one of the personality who teach people to financial freedom)
said saving money is not advisable because of inflation (purchasing power of money became less as time goes by), but for me this is the best option I could do for my hard earned money. |
(Check out this site for stats of inflation rate in Philippines) Photo credits to www.bsp.gov.ph/statistics/spei_new/tab34_inf.html
Looking at the table (but still not sure about the math though) saving in Pag-Ibig MP2 is still a win win situation. Because Pag-Ibig MP2 has 7.43% dividend rate last 2016 and the inflation rate for the same year has the average of 1.8% . Hopefully at the end of 2017 dividend rate will be higher which means higher earnings.
So maybe you ask me if where I could put my money for best possible return. (Hmmm, I think I am not the best person to ask for this but I will answer anyways. Please note that I am just sharing to you what I am currently doing, I am not an expert of anything at all. If in case I share false information kindly tell to me immediately so I can erase it out of my blog.) That would be in ‘business’ so if you have the opportunity go for it.
Also, as other financial adviser would say ‘do not stop on saving’.
I think investing on stocks is the most popular thing to do, but I did not do it, because I do not have knowledge about it. |
(never enter into something you do not understand this is one advise I also learn, I forgot where I got it from, but sure is something worthy to remember).
Other option I am thinking is the local cooperative (click on the link new article is up about local cooperative) at our place. Following the advice of local entrepreneur in our area (I learn it thru my mom, they are her clients), cooperative can lend you money for the lowest interest rate (in case I needed it) at the same time your money is gaining interest.
I hope I inspire you to plan for your future. This is one way to start ‘NOW’. If you are abroad, I believe they have similar program like these for OFW’s. I will put the link here. Even if your are abroad, you can still enrol to Pag-Ibig MP2, on your vacation you can easily apply directly thru Pag-Ibig branches and then later on let your relatives continue the payment for you (they do not accept payments thru any remittance center for MP2; for normal contribution to Pag-Ibig yes it is payable thru bayad centers).
Happy saving.
Update: August 8, 2017
I’ve been here and there to search how this Pag-Ibig Overseas Program POP works. I surely wish I did this when I was abroad but unfortunately I didn’t (what a waste of opportunity). That is why I am so eager to share this post to you.
Kindly click here on FAQ about Pag-Ibig OFW Program this will directly go to Pag-Ibig website so there is no way you can get scammed. I'd really love to explain it to you one by one but as I see the website explains it in a Question and Answer type which we can all easily understand.
You can check out this website as well click here to know where you could pay your contribution after you register to Pag-Ibig Overseas Program.
I suggest you avail these two saving scheme at the same time. So the more money you save, the more you can say that you’re hard earned money went on to something good.
Finally, to give you an inspiration to do it now, Pag-Ibig website shares OFW stories’ who enrolled in this scheme and are so satisfied with the end result. There isn't really a downfall in this program as it is fairy affordable to do the contribution 1% of your income and not to mention that dividend is high. So click here.
Hope this helps.
Again, happy saving!
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