How To: Open A COL Financial Account Without Getting Off Your Bum (Hehe)

9:16 PM Daryl 0 Comments

Ever since I ninja-read* Bo Sanchez's My Maid Invests in the Stock Market book in the airport bookstore while waiting for a flight, my eyes have been really opened** to what the stock market can do for you in your mission to create wealth. Bo Sanchez wrote so simply and clearly and I was absolutely moved. My favorite part was when he explained (in the simplest terms!) how banks make money. This how-do-banks-make-money thing was something I thought about often as a child, when I would play Village with my siblings, cousins and helpers (basically, we would pretend to have different stores in our make-believe village, and of course, we had to have banks where we could deposit money and earn interest on our savings)... Finally, at the sweet age of twenty-five (HAHAHA) I have finally understood how they do it, all thanks to Kuya B!

I always thought that banks made money through loans and mortgages, and some vague investments they made using the money that was lent to them. I understood the loans and mortgages part, but the investment part was something very cloudy and blurry in my head. In my sweet quarter-century lifetime, I also learned a little bit about insurance companies and how they give you rates that are far better than the bank's. But it was only until I read this one, super-short, super-simple paragraph in My Maid that I truly understood!!!! Very simply put: the banks make tons of money out of us non-financially savvy citizens because they are making so much more out of investing our money! AND, more importantly, we can DIRECTLY invest our money all thanks to these insurance companies/COL Financial! It is so simple that Bo's helpers can do it (the entire premise of the book, which, by the way, I have found is a FREE DOWNLOADABLE on the COL Financial site! Good thing I didn't buy it and saved myself 300+ Php, yahoo). It is as if we were sweatshop workers in Vietnam making Nike shoes and getting paid 30 Php per pair... And then Nike (the bank) retails our shoes for Php 3000. The wonderful news is that this huge social enterprise (COL financial) has decided to help us marginalized sweatshop workers by allowing us to sell our shoes directly to customers. Now, instead of earning a measly Php 30 for each pair, we make Php 3000! Yahoo.***

The book also answers a terrific question about what to do if you have no stock know-how (like me) and do not know which stocks to buy: just get great, solid stocks like Jollibee Food Corp (JFC) (I LOVE Jollibee and eat there all the time) and Ayala Land (ALI). Buy a fixed amount every month regardless of the current price, so that the cost averages out over time. Bo also suggests that you make a nice fluffy portfolio of different stocks so that if one boat sinks, you won't go all the way down with it. He also discusses the Easy Investment Program (EIP) in the book, which is interesting if you are not a risk-taker. This technical stuff is far better explained by Bo so go ninja-read or buy his book or download it on the site (although I think you can only download it once you are a member).

Of course, it's not all perfect. Here are the bad things I thought about:
1.What will happen if the stock market crashes like it did in the USA and a lot of people committed suicide?
2. What will happen if I urgently need money and stock values are down?

And here are the bad things other people thought about:
3. Isn't the Ph stock market easily manipulated since it is small compared to international stock markets? Doesn't this make it more dangerous since it is in the hands of just a few, and there are so many political issues?
4. Isn't it stupid to lend your money to other people for them to build their businesses? Why won't you just build your own business with your extra money?

And here are the responses:
1-2 (This is me responding to myself) Must only invest EXTRA money in stock market (shopping budget can be used here instead of for buying more clothes I do not need); must have a nicely-sized safety fund that is liquid.
3. (This was a wonderful response given by a very sage elderly man, when #3 was brought up over lunch): Size is relative; all stock markets are subject to manipulation, and on this premise it is best to invest in a market wherein you DO know some things about the local politics and those most likely to do the manipulating, rather than randomly investing in foreign markets where you DO NOT know the politics/interests of those in power.
4. (My own thought): Only invest extra money, and it is good to have some passive investment. Stocks are a good place to put your extra cash into, instead of bloating up your inventory (something I like to do a lot, huhu).

I also had some doubts about whether I could navigate the complex website and understand everything there. But I realized that a lot of my peers have already been investing in the stock market without a peep coming from them (I suppose they are really raking it in now, hahahaha) so I just decided to do it and try to learn as I went and ask questions as I go (this is how I do almost everything in my life wahahahaha).

So after reading the book + going through my mental monologue, I enrolled myself into COLFinancial, and it has been a lot of fun! I have become really obsessed with selling all the things I do not wear/need and buying stocks with the money I raise! Hahaha! It makes me SO HAPPY because all the unwanted stuff get new homes and I get stocks that will make me rich when I am old (if God allows me to grow old).

Enrolling is supremely simple and here is how to do it without getting off your sweet butt (I love being baby-ed and having people I know/trust "hold my hand" and personally & clearly explain the steps to me and verify that it is all legit, so that is my intention in writing this and I hope that it helps):

STEP 1. Read this: and choose which account you would like (I chose the 25000 one)

STEP 2. Complete the THREE super easy documents:
a. The completely-filled up downloadable form under STEP 2 of the above link. When you click the download link, you will only get one file and that is all you need.  It is very short and you will be very encouraged when you see it. Hahaha
For the US-y form, you just put NA for everything.
If you do not know your TIN, just call up your ex- or present employer
If you do not have any TIN, there is a link on the site that teaches you how to apply for TIN (
b. A copy of billing statement (credit card, phone bill) within 3 months
I'm not sure if you can submit a billing statement that is older than three months, or what you can submit in lieu of it in case you do not have any. It might be good to keep in mind that COL is a business out to earn profit, and you will be a customer, so there is a chance that they might be more flexible than you think. They have excellent customer service, just call them at 6515888.
c. Photocopy of any government-issued ID where your signature and photo are visible, like your passport or license.

STEP 3. Book shipment through 
Pop all three docs into an envelope and seal it. Xend will pick up at your house and will deliver to COL for just 60 Php; you just have to create an account, book pick-up, and they will show up and whisk your sealed envelope away. Signing up will only take 5 minutes so do not be lazy! Alternatively, you can also deliver it yourself to:


  • 2403-B East Tower, PSE Centre
    Exchange Road, Ortigas Center,
    Pasig City, Philippines 1605

STEP 4. Wait for the email from COL Financial saying they received your documents and telling you to fund your account.
I funded mine through BDO online banking (I only discovered online banking less than a year ago and it has been a REAL game-changer! haha). All I did was enroll the COL Financial biller, and then transferred 25,000 Php to them, indicating my account number (this number will be provided in the email) as subscriber number. It is important to enroll COL Financial as a biller first because if you do not do this, you will only be allowed to transfer 10,000 Php. I also suggest that you take a screenshot of your transfer for your own peace of mind.

COL discusses the how-to here:

Alternatively, you can also do bank deposits.

STEP 5. Wait for the email from COL Financial saying they received your payment. Here they will also tell you your account number and password. Then you can login and go and buy your stocks!!! :D :D
This will take around a week but you can also bug them/reassure yourself haha by calling 6515888.

You're done! :D I also heavily suggest that you read My Maid as it is very inspiring and very clear in its explanations (manages your expectations but encourages you at the same time).

I've been really enjoying myself and I try now to learn as much about it as I can. It feels the same as when I first discovered Ebay/Xend (and eyelash curlers, joke!); a whole new world has opened up to me! I am sure that there are so many others out there who have been doing this for ages and I would love to learn from you, if you would care to share! This blog is definitely not for you; it is for those like me who had no clue/were too scared/wanted someone to walk them through it.

Here are other things I love about this:
1. It gives you a nice alternative for where you can spend your money: media/culture has got us all thinking that it's either we spend it on travel/thingies/pop it into the bank/buy an insurance plan/save for a house/save for a car; we have not been told about how easy investing in the stock market is.
2. It gives you a nice alternative for where you can spend your time: being a part of this has motivated me to read about different companies, learn how to let numbers speak, etc
3. It helps you think in terms of productivity (ex: this Zara shirt costs 2500 and will not earn me any money whereas one Globe share also costs 2500 and WILL earn me money)

*AKA: was too cheap to buy the book and hence just "browsed" through it in its entirety
** I suppose for now, my eyes feel like they are open. But the nice thing about life is we always find more things to have our eyes opened (or opened WIDER) about! I am sure one day we might say pooh, stock market? How small-minded!
***This is my own analogy, not sure if it is 10000% correct.