Already an owner of several businesses at 25, Kapuso actor David Licauco sees to it that he puts all his money into good use.
Knowing that showbiz is not as stable as a “nine-to-five job,” David invests his income as an actor into other ventures.
“I think with our line of work, it’s always nice to have a second source of income,” said David in the Friday episode of Pilipino Star Ngayon’s webinar Wais sa Kwarta hosted by wealth coach Chinkee Tan. He was joined by fellow celebrity-entrepreneurs Dimples Romana and Gladys Reyes as guests.
David, who said he’s been influenced by his business-oriented family, currently owns a boxing gym, milk tea place, food delivery service and food chain franchise.
He also recently launched his own e-commerce platform As Nature Intended (asnatureintended.ph) — a one-stop shop for everything healthy.
Due to the imposed lockdown brought about by COVID-19, David said he realized that the best way for his business to thrive is to go digital.
“So nag-aral ako ng mga online courses, nag-enroll ako sa London School of Business, University of Michigan, etc., etc., ng mga pang-online businesses … I came up with my own e-commerce platform,” he said.
With show business being his main source of income, the actor uses his earnings for investments.
“Whenever I have a show or endorsement, so siguro medyo malaki ‘yun, good na ako for six months or a year diba. So in order for me not to spend it right away, I choose to put it on an investment.”
David also has his own way of effectively handling his money. He divides his budget into five groups:
3. Learnings — “‘Yun yung mga online courses, yung mga gym trainers ko.”
4. Emergency — “If ever na, let’s say, maubos yung money ko for investment and everything, meron akong naka-set aside na money for emergency.”
5. Fun — “I wanna enjoy the fruits of my labor, so parang gusto ko pa rin naman mag-enjoy yung mga pang travel, pambili ng damit, kumbaga yung mga ‘wants’.”
In a Pilipino Star Ngayon report, David also shared that time and effort are needed for businesses to grow.
“Same naman ‘yan sa kahit saang bagay. I think even in relationships, if you invest your time and effort and your whole self tapos wala naman pala, sasabihin mo pinaasa ka, maba-bad trip ka ‘di ba? Ganu’n lang din naman ‘yung business. Kailangan mo lang din talagang magbigay ng oras para alagaan mo siya in the long run,” he said.
Watch the full webinar Friday episode below: