Howdy people! I'm gone for more than eight months because of new business venture and now that everything is stable, Money Maker Philippines is back with more quality and comprehensive information to help you make money.
First of all, time flies fast and before I know it, my blog about definitive guide about money making opportunities in the Philippines is already one year old!
Bring out the birthday cakes, go get some balloons, bring out those cold and refreshing ice cream and turn on the party music and let the fun begin. Just kidding!
To celebrate our first year, I would like to dedicate this post to our OFW (Overseas Filipino Workers) readers who's eager to learn how to become a certified money maker by starting their own businesses. So I'll start a FAQ's (frequently asked questions).
This past few weeks, I'm getting a lot of e-mail asking different things related to business and money making. I'm really happy because you guys and gals are asking my opinion and to help out, I'll answer those questions here in this post.
Question #1: Hi there Marcelo, what is the best business to start in the Philippines (insert province or town).
Answer: Sorry to say, it will be impossible for me to know what is the best business in your area without actually studying the location.
Then you might be asking.
How to know the best business to start in your location?
First thing you need to do is be very observant. Start observing some of the market near your proximity, list down their behavior and start to look for something missing.
Yeah, you read it right. Look for the missing products or services. If your area lacks small grocery stores or sari-sari store, then its high time to start one as soon as possible to fill in the needs.
If you noticed the consumers in your place flocks in a far away bakery to buy pandesal and bread products, then it might be a good chance to start a bakery business. The same is true to different food businesses such as tapsilog biz, lugawan, small canteen and many more.
The best business is always the missing one. Fill in the needs and provide the consumers what they need.
Related Post: Best Business Ideas in the Philippines
Question #2: I want to make money online, is there any possible way to make it happen? Or maybe, online opportunities are just scams?
Answer: The Internet is like a murky waters full of golds and shits. You'll need to be very careful on grabbing underneath because you might grab a shit and that'll be nasty.
So, how to make money online in the Philippines?
Is it even possible?
You'll surely earn at home using only your desktop and laptop computer plus internet connection if you can write articles. There are some people or websites that buy articles for $2-5 per 500-1000 words. The topic will be given by your employer and all you have to do is research and write an article about the topic.
Article writing skills is also very helpful if you'll be aiming to be a blogger. Blog about topics you're interested in and keep on producing insightful, thoughtful and helpful articles to garner readers. Once you gain readership and search traffic from Google and other search engine, its time to monetize your blog and get some profits.
Another good job on the internet is online teaching. In this kind of job, your task is to teach English on Chinese, Korean and Japanese students online. Some people I know is earning quite good from this kind of online job, 15,000-20,000 a month for just a couple of hours a day is very good.
Question #3: Can I earn from (Name of MLM company)? My relatives are persuading me to join but I'm really hesitant because some people say that MLM companies are scam.
Answer: Those multilevel marketing (MLM) companies that asks for an entrance fee upon joining and sells you overpriced products without BFAD certification, or no products at all are surely a scam.
Many MLM companies just asks for money as "investment" and pushes you to recruit more people that will serve as your downlines. The more you recruit, the more you earn. This scheme is the same old pyramiding scam! Avoid them at all cost and don't listen to their incredible promises.
Question #4: Should I invest, save or get medical insurance? I cant decide what to do.
Answer: Save money, even 40 pesos a day. If you're saving 40 a day then you'll have 14,600 a year or 73,000 for five years. Isn't that amazing?
At the same time, try investing in legitimate investment company. Mutual funds and unit investment trust funds (UITF) are good choices. Visit the banks near you and don't hesitate to ask about investing.
Now go get some medical insurance because the old saying "health is wealth" is very true. If you have medical insurance, your hospital bills will be free or lessened. Of course practice a healthy lifestyle to avoid hospitalization.
In short, do them all.
Question #5: How can I pay my debts? My credit card debts are up to my neck already and its very stressful.
Answer: First thing you need to do is calm down. Take a deep breath and focus. Panicking and worrying wont pay your debts anyway.
Once your mind is clear and your thoughts are focused, start calling the credit card agent and arrange a meeting to talk about payment. Try your best to convince the agent to cut the interest and promise to pay your debts every month until the whole debts are erased.
Now create a tight monthly budget plan and strictly follow it. Be frugal, avoid too much spending and for the love of your pocket, stop buying unnecessary items, stop using your credit card if your in debt!
There you go guys! Hope I helped you out this time. Do you have any tips about making money? Share them in our comment section below and let's all have a nice discussion.