business & savers club

in my last article i utter my disappointment with the less interest of our members in our financial literacy seminar. but now i will hold on to our mission and to stay focus in achieving what we have started.

my only consolation after our activity was that the participants wanted to have a follow up. not just another seminar but a concrete action plan on how to move another step towards financial freedom. they wanted to come up with a savers club and a business that would create passive income among members.

those who have low risk tolerance may opt to save their money, pool them together and we will park it at the Simbayanan ni Maria Development Cooperative with a minimum annual interest of 6% for time deposits.

while the other members who have high risk tolerance will embark on a business with high return on investment but with potential high risk. though up to now we have not decided on what kind of business we are going to enter since we also need to protect the each others investments.

here are the suggestions:

1. eatery - pares, lugaw/goto, kwek2, siomai, chicken feet
2. store - ladies bags and accessories
3. rtw - ukay-ukay

we can also help market the existing products of our members then encourage other members to come up of their own business. sooner or later we may come up with a company that would concentrate on marketing our own products.

but since we have not yet decided on what business should we take, we better start our savers club as of the moment. at least we can say that we did something to jumpstart our small idea.