Updated: January 20, 2020
The festivities of the Christmas season is over. But most Pinoys remain excited because they’re looking forward to celebrating the Lunar New Year with the Filipino-Chinese community in the country.
Chinese New Year
Indeed, one of the best things about being a multicultural society is that New Year celebrations doesn’t just end on January 1. The revelry continues until January 25 this year, which is the beginning of the Chinese New Year.
Also known as Spring Festival, this is the longest and most important celebration for Chinese families around the world. The year 2020 is the start of a new 12-year cycle and that means, it’s the Year of the Rat.
As the first year of the 12-year cycle, the Year of the Rat is also expected to set the pace, template, and direction of the next 12 years with its intelligence, agility, and quick-thinking.
So what can the Chinese New Year and the Rat teach us about finance?
Strive for agility.
The cost of living continues to increase and it is getting harder to stick to a strict budget. That doesn’t mean we shouldn’t try, though.
Start off simple, and look for expense items that you could actually do without.
For example, if you’re already subscribed to Netflix, then maybe you can cut off your cable TV subscription. When did you last use your landline to call? You can’t remember? Save money and terminate your phone service.
Try This:
Be agile! Without as much subscription and monthly responsibilities, you can easily move your money between different places. This will allow you to discover ways to save and invest for your future.
For example, redirect your “found” money towards investments or build a source of income.
Leave your ego at the door.
Since the rat is very social, then you could experience an increase in social events this year. With that in mind, it’s important to be aware of your own social behaviors with respect to your spending habits.
For example, are you a people pleaser to the point that you become reckless with your money? Do you spend money unnecessarily just to keep up, or impress other people? It’s time to stop this habit.
Ego often clouds our judgment and choices, leaving us with a less than ideal outcome. Being self-aware of our intentions when spending, and hanging out more with people who have good money habits will certainly help us in the long-term.
Try This:
Instead of going out, have a potluck party at home instead. It’s a fun way to get together with friends without wrecking your budget. Or perhaps, instead of mindlessly scrolling through Facebook posts the whole day. Why not find ways to connect, engage, and learn from other people online?
It’s a great time to start.
As mentioned, the Year of the Rat is the beginning of another 12-year cycle. That’s why most Feng Shui experts believe that it’s a good time to start a new project, a new business, or even a new investment.
Go ahead and start looking into new ways to make money. Even if you have little capital, there are income opportunities out there that you can get into. Because as always, when it comes wealth, the earlier you start, the more time your money can grow.
Try This:
Last year, Wall Street indices hit record highs. So if you’re only investing in the Philippine market, then you missed out on a great opportunity last year. So this year, why not put some money and invest in global markets?
The easiest way to do this is through eToro because they are a global multi-asset broker. I opened an account with them several years ago, and I’ve never had any problem with them.
Plus, I love their Social CopyTrading feature, which allows me to automatically copy professional and expert traders and investors around the world. It’s one my of favorite sources of passive income.
Fortunately, to celebrate the start of 2020, eToro is currently having a Chinese New Year promotion.
All you have to do is make your first deposit to your account, and you’ll be eligible for a $50 cash reward. (Terms and conditions apply)
Basic Steps to Earn the $50 Cash Reward
- Create an account with eToro HERE. If you already have one, then just login into your account.
- Finish your account verification process.
- Deposit at least $200 into your account.
And that’s it! There’s no catch. That’s all there is to it.
Now, what can you do with the $50 cash reward?
Well, you can invest it in 1 stock right away. Buy Google or Apple shares for example.
Or maybe you can add that into your initial deposit and do CopyTrading and make money with the help of a professional trader.
The promo runs until February 5 only. So hurry and don’t miss this chance. Sign-up with eToro HERE and get started with a FREE $100,000 practice account.
Disclosure: eToro is a brand partner of this website.
