Saturday, June 23, 2012

BDO Easy Investment Plan

"We find ways"

I must say, Banco de Oro (BDO) still lives up true to its tagline. From an average Filipina who knows a thing or two about personal savings accounts and time deposits, I came to realize that I am finally getting aggressive on one important thing that I didn't really bother to seriously think about during my early years of employment --- "Investing".

I am quite traditional. Not the "coin-bank-hidden-inside-the-closet" type, but somehow close. I maintain a passbook account with BDO and I intentionally did not get an ATM card. As cliche as it is, bank interest rates suck... and so my money slept, well, at least its safe there... that's my only consolation.


 I do think my frequent trips to the bank did pay off. While waiting in the long queues, reading the available newspapers and marketing flyers inside the bank became a part of my routine. Sometime last year, I came across an article on BDO's Easy Investment Plan (EIP). I was a bit skeptical since I'm not comfortable in adding a certain level of risk to my hard earned money, but I enrolled anyway. Best decision ever, and indeed it was "EASY"!

It works this way: enroll your existing savings account to the EIP and specify the amount you are willing to "save" every month (or every payday). That's it! The system automatically deducts the amount from your account as scheduled and places it in an investment fund of your choice. That simple! I am enrolled in the program for almost a year now and I am very pleased with how much my money has grown.

A piece of advice: once you get into the EIP, quit worrying on how to withdraw your money right away. Let it stay there, and allow the program do its magic over time. Besides, the intention is to save up for the future, right?

What I like about the EIP, aside from the higher growth yield, is that it automates and secures my savings. I don't have to remind myself to do that every payday! I just got rid of the vicious cycle of "wanting-to-save-but-hey-there's-a-new-cool-gadget-so-i'll-just-make-up-for-the-next-month" struggle. 

I did mention about getting more aggressive on investing… I surely did. Let’s just say that this whole EIP thing woke up the “Warren Buffet” in me as it eventually sparked my interest in investing in stocks. Finally, I got in the Philippine Stock Market! (hmmm, i think this deserves a separate blog entry ^_^ )

Anyway, to know more about the BDO Easy Investment Plan, click here. I highly recommend it!


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