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

m0t0k0m0t0k0 SydneyTotal Reaction Points: 0Member
edited April 2017 in Remittance/Exchange Rate Posts: 79
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. :)
261313 Software Engineer - Visa (189)
-------------------------------------------------------
APR 2015 Touchdown, start employment
14 DEC 2015 Grant Received (exactly 90 days after lodging)! Thank you Lord Jesus! :)
20 NOV 2015 clicked "Information Provided" button and emailed CO
13 NOV 2015 uploaded Form 80 and replied back CO, waiting time again...
10 NOV 2015 3rd contact made by CO (again, a different CO) that gave the 2 HAP IDs and requested for Form 80
27 OCT 2015 2nd contact made by CO (different CO) who processed additional dependent Form 1436, paid 1800AUD
23 OCT 2015 1st contact made by CO asking PCC, medical and uni transcripts
14 SEP 2015: Submitted application and paid 3600AUD
07 SEP 2015: Received invitation via email
12 AUG 2015: Submitted EOI
11 AUG 2015: Got awesome PTE-A results S:90/W:87/R:89/L:84
10 AUG 2015: Took PTE-Academic
31 JUL 2015: Found the PTE thread by @filipinacpa and booked my PTE exam on the same day
29 JUL 2015: Got unchanged re-marking of IELTS Writing (total waste of money and most of all time - lost 6 weeks for nothing!)
15 JUN 2015: Paid for re-marking of IELTS Writing
13 JUN 2015: Got unsatisfactory IELTS results S:7.5/W:6.5/R:9.0/L:9.0
30 MAY 2015: Took IELTS General
12 MAY 2015: Received positive assessment from ACS
08 MAY 2015: Submitted all documents to ACS
20 APR 2015: Got the COE from current employer (waited for APR so it would be exactly my 8th year experience)
20 FEB 2015: Got the COE from 1st employer
04 FEB 2015: Got the COE from 2nd employer
13 JAN 2015: Started gathering Certificate of Employments (COE) from 3 companies
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Comments

  • dencio123dencio123 Saudi arabiaTotal Reaction Points: 1Member
    Posts: 14
    boss mgkano ngastos mo lahat s pagaply
    reaction image 0LOL reaction image 0Awesome reaction image 0Informative reaction image 0Artistic Share on Facebook Share on Twitter
  • LexiLexi MandaluyongTotal Reaction Points: 36Member
    edited April 2017 Posts: 208
    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
    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!)
    reaction image 0LOL reaction image 0Awesome reaction image 0Informative reaction image 0Artistic Share on Facebook Share on Twitter
  • m0t0k0m0t0k0 SydneyTotal Reaction Points: 0Member
    Posts: 79
    @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?:)
    261313 Software Engineer - Visa (189)
    -------------------------------------------------------
    APR 2015 Touchdown, start employment
    14 DEC 2015 Grant Received (exactly 90 days after lodging)! Thank you Lord Jesus! :)
    20 NOV 2015 clicked "Information Provided" button and emailed CO
    13 NOV 2015 uploaded Form 80 and replied back CO, waiting time again...
    10 NOV 2015 3rd contact made by CO (again, a different CO) that gave the 2 HAP IDs and requested for Form 80
    27 OCT 2015 2nd contact made by CO (different CO) who processed additional dependent Form 1436, paid 1800AUD
    23 OCT 2015 1st contact made by CO asking PCC, medical and uni transcripts
    14 SEP 2015: Submitted application and paid 3600AUD
    07 SEP 2015: Received invitation via email
    12 AUG 2015: Submitted EOI
    11 AUG 2015: Got awesome PTE-A results S:90/W:87/R:89/L:84
    10 AUG 2015: Took PTE-Academic
    31 JUL 2015: Found the PTE thread by @filipinacpa and booked my PTE exam on the same day
    29 JUL 2015: Got unchanged re-marking of IELTS Writing (total waste of money and most of all time - lost 6 weeks for nothing!)
    15 JUN 2015: Paid for re-marking of IELTS Writing
    13 JUN 2015: Got unsatisfactory IELTS results S:7.5/W:6.5/R:9.0/L:9.0
    30 MAY 2015: Took IELTS General
    12 MAY 2015: Received positive assessment from ACS
    08 MAY 2015: Submitted all documents to ACS
    20 APR 2015: Got the COE from current employer (waited for APR so it would be exactly my 8th year experience)
    20 FEB 2015: Got the COE from 1st employer
    04 FEB 2015: Got the COE from 2nd employer
    13 JAN 2015: Started gathering Certificate of Employments (COE) from 3 companies
    reaction image 0LOL reaction image 0Awesome reaction image 0Informative reaction image 0Artistic Share on Facebook Share on Twitter
  • LexiLexi MandaluyongTotal Reaction Points: 36Member
    Posts: 208
    @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!)
    reaction image 0LOL reaction image 0Awesome reaction image 0Informative reaction image 0Artistic Share on Facebook Share on Twitter
  • hopeful_meahopeful_mea Whyalla, South AustraliaTotal Reaction Points: 28Member
    Posts: 432
    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
    4 Mar 17 EOI update 75, NSW 80
    15 Mar 17 ITA received
    31 Mar 17 Medicals cleared (primary and dependents)
    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..
    reaction image 0LOL reaction image 0Awesome reaction image 0Informative reaction image 0Artistic Share on Facebook Share on Twitter
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