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What to do with savings in peso back in the Philippines?

m0t0k0m0t0k0 SydneyPosts: 84Member
edited April 2017 in Remittance/Exchange Rate
Hello,

I am not sure where to put this thread and decided to put here since I am not sure what's the best thing to do with my savings back in the Philippines. It's a few hundred thousand pesos that are just lying in the BPI savings account, which earned a measly few hundred pesos from annual interest.

In comparison here in Australia, even just the savings account earns 20-30 AUD per month. Is it worth transferring all the PHP and into my Australian savings account? Or will the exchange rate hurt me and perhaps I should find a better place in the Philippines to put it, ie. some other better interest rate (not sure as I am not financial savy)?

Any advice would greatly help. :)

JUN 2021: Australian Citizenship Received
JAN 2015 - JUN 2021: 261313 Software Engineer - Visa (189)

Comments

  • dencio123dencio123 Saudi arabia
    Posts: 15Member
    Joined: Apr 14, 2017
    boss mgkano ngastos mo lahat s pagaply
  • LexiLexi Mandaluyong
    Posts: 208Member
    Joined: Sep 10, 2016
    edited April 2017
    Invest it in blue chips stocks in Philippine Stock market. Sayang naman kung nasa bank lang.

    Visit colfinancial.com :)

    221111 Gen. Accountant
    04/13/17 - CPAA Positive Assessment
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    11/29/17 - EOI 189 - 75 pts.
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  • m0t0k0m0t0k0 Sydney
    Posts: 84Member
    Joined: Aug 11, 2015
    @Lexi when you applied for an account in COL, were you already in Australia?

    If you don't mind me asking how much does it earn per year on average?:)

    JUN 2021: Australian Citizenship Received
    JAN 2015 - JUN 2021: 261313 Software Engineer - Visa (189)

  • LexiLexi Mandaluyong
    Posts: 208Member
    Joined: Sep 10, 2016
    @m0t0k0 I am still here in Philippines. You can apply even if you're there in Oz.

    Di ko masabi ang earnings per year. It's not like a savings account. Nag-iissue ang Col Financial or other stock brokers ng advise on when to buy a stock. You'll buy the stock, set a target gain like 10% , then pag tumaas na value ng stocks mo, benta mo na. Here's an example para makapili ka ng stocks na bibilihin mo:

    https://dailypik.com/undervalued-stocks-in-the-philippines-latest-list/

    221111 Gen. Accountant
    04/13/17 - CPAA Positive Assessment
    08/2016 - 11/2017 - PTE Journey
    11/29/17 - EOI 189 - 75 pts.
    01/09/18 - EOI 190 NSW
    02/02/18 - NSW Pre-invite
    02/09/18 - Submitted NSW application
    03/22/18 - ITA/NSW Approval
    04/06/18 - Lodge Visa 190
    07/11/18 - Direct Grant (worth the wait!)

  • hopeful_meahopeful_mea Whyalla, South Australia
    Posts: 440Member
    Joined: Jan 24, 2014
    I have stocks din thru colfinancial for 2 years na and yan din plan ko next year pg nkasettle na sa oz. mg.quarterly bili ng stocks =) that's better kesa nkatago lng sa bank. you can venture din real estate kc hndi ng.dedepreciate.

    Accountant (221111)
    Mar 2014 IELTS Davao L7.5 R7 S8 W6.5
    Dec 2015 Discovered PTE
    5 Jan 16 PTE - L82 R84 S71 W83
    2 Feb 16 CPAA Positive assessment, EOI 60, NSW 65
    4 Feb 16 PTE - L88 R76 S65 W90
    22 Feb 16 PTE - L84 R74 S49 W90
    29 May16 EOI update 65, NSW 70
    16 Jun 16 PTE - L80 R83 S61 W90
    20 Sep 16 PTE - L86 R83 S74 W90
    2 Mar 17 PTE - L90 R90 S87 W90
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    12 Apr 17 Lodged 189 VISA
    22 Apr 17 VISA grant DG
    1 Nov 17 Big Move (Whyalla, south au)
    6 nov 17. 1st day of work

    In God's time..

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