Thank You Pope Francis

This day is the flight of Pope Francis to Rome.

He has been in the Philippines last Thursday for Pastoral and State visit.

This is also his 2nd trip in Asia after Sri Lanka

Pope Francis has been the PRESENCE of God here in the Philippines.

His pure presence gives us Filipinos the JOY and HOPE.

Truly the theme MERCY and COMPASSION was there.

It was a historical 3-day visit for us Filipinos.

And we are so thankful that it was given to us.

We thank God for it.

We will always pray for Pope Francis to be always the light and symbol of Jesus to the world.

We Thank you Pope Francis.

 

10 Tips on How to Manage your Money Written by Edmund Lao

From the time we were school children up to the time we are in the corporate world, it is very essential to practice prudent management of the money we have. When we start handling money, we are already stressed because most of the time, we end up with lots of needs but not enough money. The culprit is reckless spending and poor money management.

When I was in college, my parents gave me an allowance of Php 10, which covered my transportation for the whole week. Back then, my schedule was only up to 12 noon, so it was logical for me to go home for lunch. I often heard other students complain that their allowances were not enough due to their careless spending. If only they knew how to live within or below their means, they would have been able to accumulate more due to the excess funds that they can generate.

Since spending recklessly has been their habit during school days, I just hope they were able to change their habits by the time they have gone into the corporate world. Take note that it is the habit and not the amount of money that determines one’s financial future. As Dave Ramsey said, “Personal finance: 80 percent behavior and 20 percent head knowledge”.

Money is a good servant but terrible master. Manage it well or it will manage you.

Below are 10 simple tips to help you manage your money,

1. Ignore it. There is a high probability that your new job requires a new lifestyle which may come at a high cost. You might need professional clothes, a new car or a luxurious place to live in. It is highly recommended to live like a broke college student even if gainfully employed. Just maintain the simple lifestyle you had as student and there is a big chance you will get a better handle on all new expenses. A good idea is to forget you have money, and keep it where you do not have quick access to it.
2. Live at your parents’ home. While still single, continue to live with your parents as you will be able to save a lot. Living alone will expose you immediately to expenses such as costs for shelter, utilities, food, etc. Living with your parents will give you the benefit of having free shelter and food, although you may want to share a little in the household expenses. You can save a lot doing this as per my personal experience.
3. Limit or eliminate debts/loans. As much as possible, avoid purchasing items on borrowed money which might bury you in debt due to the high cost of interest. A good way is to save up for the item you want, and then when the time comes you can afford it, there is a chance that you might not want it anymore or the item is on sale already. There is truth to the saying that haste makes waste. By delaying gratification, you get rewarded later. If you are in debt, pay it as fast as you can to avoid the interest from piling up. Or else, you will be working for the lender.
4. Pay yourself first. When you earn your income, always put yourself first in the list of bills to pay. By paying yourself, you can start your saving and investing program.
5. Create emergency fund. Emergencies strike on the moment we do not expect. Without a fund to answer the need, a person will resort to getting loans even with the highest interest. Set aside 3 to 6 months’ worth of salary as emergency fund. Every time you use it, make sure to pay it back to maintain it to its level for future emergencies.
6. Ensure proper protection. It is always a good practice to protect our assets because assets can generate money for us. A breadwinner is the asset of the family so he is required to have insurance. A lot of people insure the house and car they have but not themselves. They treat insurance as an expense. However, it is an expense that buys peace of mind and it is also an expense that transfers wealth to his family and life’s risk to the insurance company. Without insurance, just imagine the financial disaster when the income suddenly stops due to the demise of the breadwinner. With or without him, expenses are here to stay.
7. Accumulate assets. Invest in assets and invest for the long haul. This will make your money grow. Shift your excess money in the banks, take calculated risk, invest and make it work for you. Remember, you are only human; your strength and earning capacity is limited. Money, when invested properly will earn for you 24/7 and it will never complain the way employees complain.
8. Save for your golden years. One thing is certain aside from death and tax. We all will grow old whether we like it or not. It is always recommended to prepare for your retirement. The best time to prepare is when you start working. Time will come that you will retire from work and the only guaranteed source of your income is your saved money, not your children. A lot make the mistake of making their children their pension fund. There is no guarantee to it as they will have their own responsibilities for their own family. The best person to take care of you in your old age is the younger you.
9. Protect your estate. Your income earned was subjected to tax. When you invest the income you earned, the gain it will earn will again be subject to tax. When you depart from this world, transferring your assets to your beneficiary will again be subject to tax. Protect it against taxation by putting it into an instrument free of estate taxation so that your family benefits.
10. Teach your children sound money management. Nobody would want their hard-earned wealth squandered after passing it to the next generation. So it is a good idea to educate the children while young on how to manage money.

As Proverbs 22:6 says:

”Train up a child in the way he should go; even when he is old he will not depart from it.”

Pinoy, How can you e.arn online without spending a single pesos?

Did you ever wonder how you can increase your income stream or have an extra income? But don’t have the capital to put up a business?

There’s a way to do it.

Introducing Affiliate marketing.

There have been many people na ang kumita through this method.

First, ano nga ba ang Affiliate Marketing?

Let’s define Affiliate Marketing is the process of earning a commission by promoting other people’s (or company’s) products.

Teka MLM ata ito. (you thinking)

Nope, Hindi siya MLM.

Walang kang bibilin na products.

Magpopromote ka lang ng products ng iba at kapag nakabenta ka may commision ka.

Yes, Tama, correct ang iniisip matrabaho ito ngunit hindi mo kailangan gawin lagi.

Maraming company sa internet ang merong affiliate, like Clickbank atbp.

Pero International yan and maraming products na pagpipiliin.

So let’s go local muna. Practice na rin di ba.

Let’s promote an event of a Guru here in the Philippines and a Fil-Australian Entrepreneur.

His name is Jomar Hilario and Jay Mclean respectively.

They’re having a live seminar about Wealth Creation Strategies for those are aspiring to work from home as a Virtual assistant and for Business owners to increase their sales.

You can check the details here: http://bit.ly/WealthBluePrint.

Ok back to afiliating.
Eto na click this link http://bit.ly/PinoyYouCanWorkFromHome

And then click “Be An Affiliate”

Then Register.

Follow this instructions: http://jhilario.com/promotejomar

Then VIOLA! pede ka na magpromote at kumita.

Good Luck and God bless!

 

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P.S. 

 1  1/2  years ago, I joined the TrulyRichClub. It was one of the best decisions of my life. Because of the guidance I get from the Club, I’m now investing in the Stock Market each month! It’s amazing how I’m personally growing in my finances now. For the purpose of helping others to become financially literate founded by Bro. Bo Sanchez. I’m inviting you to join the Club too. If you’re interested, then join the TrulyRichClub NOW click I want to Join Truly Rich CLub ! or email me at bosanchezmember@gmail.com if you have any questions.

 

OFW Stories in Singapore (Part 1)

By Nolan Lazaro

Have you tried spending P200,000 in a day? This was the first question my friend asked me during one of our lunch in a local hawker centre in Singapore.

 My friend went on and shared with me the story of his officemate, let’s just call  him Peter, a regular wager OFW in Singapore.

Peter went to a vacation in Manila and spent P200,000 for the birthday of his son in a prime location where rich people do gatherings.

He spent all his money and savings on that vacation and asks friends to loan him money when he then returned to Singapore.

P200,000 expense for the birthday of his son alone, it excludes the pasalubongs for hiskapit–bahays at pati mga ka-barangay kasama pa.

I know a lot of “Peter” not only in Singapore. They are the type of OFW who spends money just to impress people, spending on things which they cannot afford.

Working on a foreign land is not easy. The culture and homesickness is really hard but as per Peter:

“syempre 1st birthday ng anak ko dapat magarbo ang party. Ano na lang sasabihin ng mga ka-barangay at mga friends ko, wala akong pera?”

“Dpat may pasalubong din lahat pati kapit-bahay at ka-barangay. Ano nlang iisipin nila? Nakakahiya masabihan pa akong kuripot.”

So to impress people he reasoned out that he has to have extravagant birthday party for his son. He also  bought new clothes, new gadgets just to impress people. Dapat imported lahat ng gamit and updated mga gadgets.

Pasikat ika nga. Then upon returning to Singapore, He now has to borrow money for food, transpo and for rent.

My friend told me that he tried many times to invite him to attend financial seminars, but Peter has all the reasons not attend seminar.

He asks the following questions:

Peter: May bayad ba yang seminar na yan?

My friend: $35 lang

Peter: ang mahal nmn nyan, wla akong pera.May libre bang pagkain jan sa seminar na yan?

My friend: wlang free food, pero for sure you’ll learn about stuffs that will help you regarding financial literacy.

Peter: may lakad ako nyang date na yan, next time nlang

This is a real story of an OFW here in SG, Peter is not the real name of the person. I shared this story not to humiliate; my only objective is to share to people so we can get the lesson of the story.

According to Will Smith

If Peter knows only how to Invest, he could have grown his money by at least a minimum of 12% when he put his money on an Investment vehicle.

Year 1:	12% of 200,000 = 24000+ 200,000                     =       224,000
Year 2:	12% of 224,000 = 26,880 + 224,000                  =       250,880
Year 3:	12% of 250,880 = 30,105.6 + 250,880                =       280,985.6
Year 4:	12% of 280,985.6 = 33718.272 + 280,985.6      =     314,703.87
Year 5:	12% of 314,703.87 = 37,764.46 + 314,703.87   =     P 352,468

His P200,000 becomes P352, 468

That is the power of Investing and Compound Interest.

 

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Nolan Lazaro is an EX-OFW, he used to work in Saudi Arabia for 1 year as an IT guy and also worked in Singapore for a Multi National Company for more than 4 years before finally deciding to return to Philippines.  He is the owner of the blog site  Super OFW Investor: Stories about financial freedom.

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P.S. 

 1  1/2  years ago, I joined the TrulyRichClub. It was one of the best decisions of my life. Because of the guidance I get from the Club, I’m now investing in the Stock Market each month! It’s amazing how I’m personally growing in my finances now. For the purpose of helping others to become financially literate founded by Bro. Bo Sanchez. I’m inviting you to join the Club too. If you’re interested, then join the TrulyRichClub NOW click I want to Join Truly Rich CLub ! or email me at bosanchezmember@gmail.com if you have any questions.

PH Holidays and Long Weekends 2015

Money Summit And Wealth Expo 2014

Money Summit is a conference on investing aimed at beginner and intermediate-level investors and traders.

 

This conference happens on July 4, 2014, 9:00am-6:30pm, at F5, SMX Convention Center, Mall of Asia Complex, Pasay City.

Money Summit and Wealth Expo

Why Attend

Here are some benefits you will get from attending Money Summit:

• Discover various investment options beyond bank deposits, including stocks, funds, forex, and real estate.
• Gain valuable insights on investing such as asset allocation, risk profile, and behaviorial finance that will help you become a more informed and well-prepared investor.
• Meet and network with like-minded investors who share your desire to invest for their financial future.

Conference Agenda

Money Summit 2014 features a mix of fundamental and technical topics:

• Building a Filipino Investor Class
• The Impact of the Economy on Your Investment Portfolio
• DIY Investing: The Steps to Building a Rock-Solid Investment Portfolio
• The Psychology of Investing: How Your Brain and Emotions Affect Your Investment Decisions
• How to Make Money in Any Market
• Money Making Machines
• Scam Busters: Identifying Red Flags to Avoid Getting Burned
• The 3 Pillars of Building Wealth

* topics may change without prior notice

 

More Details an To Register here: Money Summit and Wealth Expo

 

source:moneysummit.com

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P.S. 

 1  1/2  years ago, I joined the TrulyRichClub. It was one of the best decisions of my life. For the purpose of helping others to become financially literate founded by Bro. Bo Sanchez. Because of the guidance I get from the Club, I’m now investing in the Stock Market each month! It’s amazing how I’m personally growing in my finances now . I’m inviting you to join the Club too. If you’re interested, then join the TrulyRichClub NOW click I want to Join Truly Rich CLub ! And email me at bosanchezmember@gmail.com if you have any questions.

What is Time?

by Edmund Lao

The greatest gift you can give to someone is your time, because when you give your time, you are giving a portion of your life that you will never get back. — Anonymous

Time is a commodity that is often taken for granted specially by Filipinos. A proof of this is coming late for appointments. The usual reason is the traffic jam, which has already been part of our lives. That is also the reason we have the term Filipino time. By coming late for an appointment, we are in effect robbing the other person of his precious time which he can use productively.

In the world of financial planning, what really is the meaning of time? We always hear financial institutions say that in building wealth, time is of the essence. From a desk calendar byFirst Metro Asset Management Inc. I saw in 2012, the number one tip was :

Start Early: The only way you can make the most out of the limited time you have is to start early. The sooner you invest, the more time your money will ha e for growth. If you delay, you will almost certainly have to invest much more to achieve a similar result. Let the POWER OF COMPOUNDING WORK FOR YOU.

Many people erroneously think that in wealth building, time is not important. When young , you will often hear the reply “I am still young. Retirement is still far away”. They do not realize that when they delay, they are in effect robbing themselves and their future generation of a bright future ahead. Each year of delay in their investing decision translates to millions of pesos of loss in the future.

Time waits for no one, once gone; you can only look back but can never get it back again.

Let us look into a short story below which I received several years ago:

TWENTIES: I CAN’T SAVE NOW.  I’m just getting established. I have credit card due to pay and there’s a loan of the car too.  I’m not ready to make commitments yet and I want to have fun while I can.  There will be time to think about saving later on, then I’ll save.

THIRTIES: I CAN’T SAVE NOW.  I’ve got a family and responsibilities. It costs a lot to raise and there’s mortgage on the house too. It takes all I have to make ends meet, when I am making more and the kids are older then I’ll save.

FORTIES: I CAN’T SAVE NOW.  I’ve got kids in college and costs are out of sight.  Then there are weddings. I want to help the kids get started.  Expenses are their highest and it’s the hardest time to save, but things will ease off soon. Then I’ll save.

FIFTIES: I CAN’T SAVE NOW.  Things haven’t worked out like I thought they would. It’s not easy when you are locked in and there’s an opportunity to move up the ladder. I can’t just make a break and start a new career. I’m helping the folks too, now that they need my assistance. I’m just barely making ends meet. Something will open up, and then I’ll save.

SIXTIES:  I CAN’T SAVE NOW.  I thought things would be better.  I wanted to retire earlier but I just can’t do it. I’m trying to pay off the last of the mortgage and get other bills take care of, but things mount up. Remembering the grand children and other things take all I have. I guess that’s the way it is. I wish I could save.

SEVENTIES: I CAN’T SAVE NOW.  I’m too old to save. My retirement benefit from the SSS and from my company just can’tgo far enough. Medical bills and long term care expenses really worry me. I’m such a burden on my kids. I wish I had saved when I should have. Now it’s too late… I REALLY CAN’T SAVE NOW.

The above story just showed one thing. Procrastination is a thief of time. Now that his 40 years of productivity was stolen from him, automatically, his future wealth also vanished into thin air with the passage of time.

Almost 10 years ago, I was thrust into the wonderful world of investment. Ever since joining a seminar that changed my mind-set, I hungered for more knowledge. For me, knowledge is nothing unless it is applied. Having knowledge made investing for me a lot less risk. I started investing in different kinds of instruments ranging from low to high risk. I realized that even high risk investment is not that all risky for as long as there is a goal and time attached to it. When I invested my money, I pretended that it was spent already. It was really spent not on consumption but on buying my future which is certain to come. It is a fact that we cannot prevent old age and getting sick but we can do something to provide for that certainty. True enough, after years of having invested, the returns are far beyond my expectation. I earned more without exerting a single effort. It was time that allowed my money to grow. Conclusively, time is the real money.

Now that we know Time is money, would you still waste it?  START early and make it your friend.

 

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P.S. 

 1  1/2  years ago, I joined the TrulyRichClub. It was one of the best decisions of my life. For the purpose of helping others to become financially literate founded by Bro. Bo Sanchez. Because of the guidance I get from the Club, I’m now investing in the Stock Market each month! It’s amazing how I’m personally growing in my finances now . I’m inviting you to join the Club too. If you’re interested, then join the TrulyRichClub NOW click I want to Join Truly Rich CLub ! And email me at bosanchezmember@gmail.com if you have any questions.

What is Working Smart? by Edmund Lao

In our High School Physics, we were taught that the term work is weight lifted through a height. The French mathematicianGaspard-Gustave Coriolis defined work mathematically as applied force multiplied by the distance travelled by a body due to the force exerted onto it. This principle shows us that for a work to be done there must be an effort or hard work to get a result.

In the corporate world, employees are required by the company to work hard and give their best in exchange for the salary they agreed upon during the hiring process. Just by observing the working class, one can easily see that these people earn money by exerting so much effort in making their employers rich while they are striving to make both ends meet. They are so busy doing the jobs assigned to them that they forgot to look for much simpler ways to make life easier for them. In Physics, we learned the use of lever to make work easier. The same can be applied to our personal financial lives. True, we work hard to earn money by but we can always have the ability to earn money by working smart. Working smart is actually applying the law of Physics by using the power of leverage in maximizing our income with the least effort.

Below are some ideas on how to leverage:

1. Invest in mutual funds. Putting your money in a mutual fund is a form of leverage. Here you can use the principle of Using other people’s money, time and effort. By joining a mutual fund, you are leveraging on the expertise, effort and time of the fund manager is growing your money. Investors do not need to be directly involved in thinking of ways on how to increase their income. At the same time, their money is pooled with other people’s money to form a larger amount that can buy securities. By being pooled in the fund, let their money work the same way as those of the rich.

2. Invest in good companies. By putting your money in big companies as a shareholder, you automatically become a part owner of that company without having gone through the hassles of building one. By being a shareholder, one is leveraging on the experience and business decision of the owner, the system of the company, and the productivity of the employees without the headaches of running one. When the company declares dividend, you as a shareholder, also earn. This can be possible by buying share of companies in the stock market. Just make sure that you study well before investing.

3. Join Network Marketing. One of the most effective but controversial instrument is the MLM industry. So many individuals have abused this to the point that majority of good MLM companies were called scams. By joining MLM, you can be able to multiply your time without limit because you will have a lot of people working with you and for you. It must be remembered that time is the real money. More time equates to more productivity which translates to money.  You can notice that employees are busier than the employer because the latter owns the former’s time (40 working hours a week). If he has 10 employees, that means he has 400 working hours a week. When you build your MLM business right, you will be the same as the employer who earns with the least effort.

4. Use social media. With the advent of the internet, more and more opportunities to earn were made available. You can use the online store to sell your products or your services without any overhead cost. You can also maintain a blog where you earn via advertising.

5. Build a client base. Another source of active and passive income is to have a wide base of loyal clients. A perfect example is the insurance industry. For as long as you are able to give good service to your clients, as long as you have created a good system and your clients regularly renew their policies (especially true for non-life), you are guaranteed a huge passive income even if you do not get new clients anymore.

6. Get good team/partners. Tie up with people who can fill your weakness. That way, you need not waste time trying to perfect something you are not good at. This is reminiscent of a story about Henry Ford about his alleged ignorance from which came his intelligent reply: ”If I really want to answer that foolish question you just asked, or any of the other questions you’ve been asking me, let me remind you that I have a row of electronic push buttons on my desk, and by pushing the right button, I can summon to my aid men who can answer any question I desire to ask concerning the business to which I am devoting most of my efforts. Now, will you kindly tell me, why should I clutter up my mind with general knowledge, for the purpose of being able to answer questions, when I have men around me who can supply any knowledge I require?” This is leverage at its best.

7. Think. Of all living creatures, we human beings are the only ones who can think. Our mind is the greatest gift to us by our Creator. All of the people who became rich just observed, saw the problem and thought of an idea to solve the problem. An example is the parking guide in our major malls. The one who thought of that solution has surely made a lot of money due to his innovative idea. 

8. Take advantage of time. Time is money. Never abuse or waste it. Time waits for no one. Once gone, you can only look back but can never get it back. While young and working, start saving and use the power of time to grow your money with proper investment. Time will come that you need not work for money as your money will be the one working for you.

Work Smart!

Are You Afraid Of Growing Old Without Money?

 

 

Here is a good story by Bro Bo, a story to ponder. I hope we could all learn from this.

Greg is a 63-years old Vice President of a company.
The salt and pepper hair fits him nicely. Makes him look elegant. Greg also wears cool clothes that make him look like a rich gentleman.
But his eyes can’t hide the bone-chilling TERROR inside.
Because he knows he will retire at 65. That’s just two years away. And he’s scared. Because on that day, he won’t have a monthly paycheck
anymore.
“I’m sure you have savings, right?” I asked Greg.
He looked down, shaking his head. “Not more than P200,000 in the bank. I’ve never been very good with savings. I just spend my money. And there
were many emergencies along the way. I know I should have saved more. But I didn’t.”
I asked, “But you’ll get a nice retirement package from your company?”
“To pay my debts,” he sighed. “I just borrowed to buy a car last year. And did some house repairs this year. We also travelled as a family last
summer, paid for by another loan. So whatever I’ll get from my retirement will erase my debt. But nothing will be left. Absolutely nothing.”
I couldn’t help but groan.
Greg was staring at the PERFECT STORM. A financial calamity that was coming in two years.
“Can you help me, Bo?” Greg asked.
I pitied him so much. If only he was twenty years younger—it would have been easy!

My Maids Have MORE Investments Than This Vice President

All my maids are invested in the Stock Market.
My first maid—the first one who started her investment program under my guidance—now has P518,844 in her stock market portfolio. She’s only 30
years old. If she keeps investing, she’ll have P15 Million by the time she hits 50. Note: A maid! (Last year, I promoted her to bookkeeper, but
that’s another fascinating story to tell at another time.)

Almost all my employees (over a hundred of them) are investing in the Stock Market too. Messengers, janitors, clerks… I’ve got happy employees
because they will all be multimillionaires when they retire.
Even my sons Benedict and Francis, ages 13 and 7, are investors. For years, Benedict would invest money from his odd jobs. And Francis would
invest Christmas cash gifts from Ninangs and Ninongs. They will be millionaires by age 18 and multimillionaires by age 21.
Let me repeat: Their money is in the Stock Market.
Not in the Bank.

Did you know that the interest you earn in a bank is LESS then 1% a year? But in the Stock Market, if you follow my simple investment system (NOT
trading!), you’ll grow your money from 12% to 20% a yearover time and become a multimillionaire in 20 years.

You Don’t Have To Make The Mistakes Of Greg

Some people think that as you grow older, you’ll have to grow poorer.
Not true. You don’t have to make the mistakes Greg made.
Thousands of people have already joined my TrulyRichClub And following my guidance, they have started investing in the Stock Market. And they’re
very happy.
Those who joined me 3 years ago—and who invested in the Stock Market with my guidance—can’t thank me enough for the TOTAL CHANGE that has
happened in their financial life.
I repeat: Don’t be like Greg. You don’t have to be afraid growing old and poor.

Stop postponing! You’re missing out on these earnings. Most importantly, you’re missing out on gaining financial freedom.

Yes Bo, I’d like to change my finances in 2014;
Tell me more about the TrulyRichClub.

To join, click the link below:

http://bit.ly/TrulyRichClubMember
May your dreams come true,

Bo Sanchez

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P.S. 

 1  1/2  years ago, I joined the TrulyRichClub. It was one of the best decisions of my life. For the purpose of helping others to become financially literate founded by Bro. Bo Sanchez. Because of the guidance I get from the Club, I’m now investing in the Stock Market each month! It’s amazing how I’m personally growing in my finances now . I’m inviting you to join the Club too. If you’re interested, then join the TrulyRichClub NOW click http://bit.ly/RichGoodPeople ! And email me at bosanchezmember@gmail.com if you have any questions.

 

 

Financial Tips for Yuppies by Edmund Lao RFP

 

It’s been a while when I last posted, today I want to share with you an amazing article. Happy reading!

Young urban professionals are earning so much today  as compared to 20 years ago. With the proliferation of the BPO industry, even those who did not finish college are eligible to work as call center agents as long as they can speak English correctly and fluently. Initial salary ranges from 20 to 25 thousand Pesos.  Higher income translates to higher lifestyle and unnecessary expenses. Due to commercialism, these young people are wasting so much power that they possess in creating and building their future wealth.

It is unfortunate that personal finance has yet to be a required subject in high school or college, so majority is fairly unaware about how to manage their money when they are out in the real world for the first time.  The only secret to get started on the right path is the willingness to do a little reading. One  doesn’t even need to be particularly good at math,  one merely has to change his behavior towards money.

To get started, here are some of the most important things to understand about money in order to live a comfortable and prosperous life. 

Be Disciplined

Discipline is doing something you hate to do. Years ago, President Marcos said “Sa ikauunlad ng bayan, disiplina ang kailangan”. This is true even to our personal financial lives. Discipline can be achieved by having self-control. Self control is an art and the sooner you learn the fine art of delaying gratification, the sooner you’ll find it easy to keep your finances in order. Although you can easily purchase an item on credit  by just swiping your credit card , it’s better to wait until you’ve actually saved up the money. Doing that, you’ll save up on interest  which you can use on other important purchases. 

If you make a habit of putting all your purchases on credit cards, regardless of whether you can pay your bill in full at the end of the month, you might run the risk of still paying for those items in 10 years. It makes perfect sense to always pay your balance in full when the bill arrives, and don’t carry more cards than you can keep track of.

Manage your financial future

If you don’t learn to plan your own finances, other people will find ways in planning to get your money. Remember, malls are everywhere and very often they offer madness sale. People really get mad and flock to the malls to purchase things they do not want just to impress people they do not like. Most of the time, they buy things that depreciate in value. When you buy these, your money is gone forever. It is better to buy assets which will not drain your pocket. Buy books or bond with financially inclined people and get infected by their virus. You will see a big improvement in your financial life.

Know where your cash flows

Once you’ve gone through a few personal finance books, you’ll be amazed to see  how important it is to make sure your expenses do not exceed your income.  The best way to do this is by budgeting.  You’ll realize that making small, manageable changes in your daily expenses can have big impact on your financial situation. In addition, keeping your recurring monthly expenses as low as possible will also save you big bucks over time. 

Start an Emergency Fund 

One of mostly repeated rules in personal finance “pay yourself first”. No matter how much you earn,  it’s wise to set aside 3 to 6 months of salary in your budget to save in an emergency fund every month. The common problem with us is that every time there is an emergency, there is no fund. Having money in savings to use for emergencies can really give you a relaxed life because any crisis that arises will not throw your life into other people’s hands.   

Start Saving for Retirement Now 

Unknown to many, the time to start preparing for retirement is when one starts to earn income. On the average, a person’s productive years is only 40 years , and the younger they start, the lighter the effort will be because he has time on his side. Another factor to consider is the power of  compound interest . The sooner one starts saving, the less principal you’ll have to invest to end up with the amount you need to retire. He will then be able to call working an “option” rather than a “necessity”. Another option is to take advantage of company-sponsored retirement program, where employer matches employee contribution. As the employee stays longer in the company, his retirement fund has an opportunity to grow better. 

Guard Your Health 

The most important wealth generator is YOU. It pays to get healthy. If the health is lost, income will follow.. As former Health Secretary once said “ Bawal magkasakit!”. My late father was once diagnosed to have “colangio carcinoma”, a possible treatment but not guaranteed survival is liver transplant. That procedure costs Php 6M. I always remember a saying that went this way ,” People sacrifice their health to gain wealth, later they sacrifice their wealth to recover their health”.   It pays  to get protected against health issues by getting HMO, Critical illness insurance or even Hospital Income Plan to cushion the loss of income due to illness.

Guard Your Wealth

If you want to make sure that all of your hard-earned money doesn’t vanish, you’ll need to take steps to protect it. If you want help managing your money, find a fee-only Registered Financial Planners to provide unbiased advice that’s in your best interest. There are a lot of RFPs in the Philippines now who are ready to help clients solve their financial problems. Then get  your financial products from a commission-based but reliable financial advisor. That way you get the best of both worlds. 

You don’t need any fancy degree or special background to become an expert in managing your finances. If you use these financial rules for your life, you can be as personally prosperous as the guy with an MBA or a PhD.

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P.S. 

 1 Year ago, I joined the TrulyRichClub. It was one of the best decisions of my life. For the purpose of helping others to become financially literate founded by Bro. Bo Sanchez. Because of the guidance I get from the Club, I’m now investing in the Stock Market each month! It’s amazing how I’m personally growing in my finances now . I’m inviting you to join the Club too. If you’re interested, then join the TrulyRichClub NOW click http://bit.ly/RichGoodPeople ! And email me at bosanchezmember@gmail.com if you have any questions.