Tuesday, December 9, 2014


Some advice from Financial Planner, Efren Ll. Cruz, is worth re-posting here, excerpts anyway.  More so, as some of such advice refers to the poor, and COOPERATIVES.

Here it goes:  "..The lifestyle of the rich is an aspiration for the poor.  But to get to that dream life, the poor must emulate the actions of the rich, foremost of which is reining in costs through a tactic known as haggling..."

"..One effective way to get the poor to also employ the tactic of haggling is to band together.

With the pooling of their money, the poor can flex the financial muscle that only the rich have individually.  This is the appeal of pooled funds, like mutual funds, unit investment trust funds, variable unit linked insurance, pre-need plans and even real estate investment trusts...

..Pooled funds are nothing more than cooperatives focused on investing.  Cooperatives themselves have been in the country for more than a century.

In fact, the Cooperative Development Authority lists Dr. Jose P. Rizal and Teodoro Sandiko as those who started cooperatives in the Philippines, the latter earning the title, "Father of Cooperation" in the country.

Just like the other pooled funds, not all cooperatives succeeded in the country.  The main reason cited is the "lack of proper understanding of the principles and true aims of cooperative associations, and the non-adherence to them in actual operation of cooperative enterprises"...

"...Today, pooled funds present a great equalizer for the poor in their pursuit of wealth creation and preservation..."

Excerpts from "The rich haggle, the poor struggle" column of EFREN Ll. CRUZ, PDInquirer, Dec. 10, 2014, p. B-4.

(Note:  Cooperatives themselves have created a "pooled fund".  They own the Cooperative Mutual Fund of the Philippines, where the cooperative-members have also invested.  

Why does Co-op Ph (www.cooperativesPhilippines.com) excerpt and share items/contents such as the above?  Social media (Facebook, blogs, microsites, other social networks), aside from creating their own content and sharing them, have also served as "media multipliers".  Content from traditional media (print, radio and TV, among others) get more readership when shared via social media, whose readership may not necessarily has access to some of the traditional media. And vice versa.  Just to clarify.). (END).



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