Thursday, June 28, 2007


taken from the book 8 Secrets of Truly Rich by Bo Sanchez

In his book Bo wrote " becoming financially healthy depends on how you've taken steps towards financial health." He presented six steps to financial health. He put Step#0, which he considered a faith act. Are you ready? here are the challenges:

Step#0: Give to God a Monthly Love Offering ( start with 10%)
Bo wrote" the purpose of money is to use it for love. Tithing are the "training wheels" to learn how to do this. Each month. set aside a fixed percentage of your income to God and the poor. And be open to the blessings that will flow to you.

Step#1: Free Yourself from All Bad Debt
List of down all your bad debts and declare when your Freedom Day will be. Never borrow for anything that doesn't put money into your pocket. Renegotiate with creditors if you have to.

Step#2: Increase Your Income and Start a Sideline
Grow yourself, your skills and your liabilities.

Step#3: Get Protection (Insurance) Equal to 10 Times Your Annual Expenses
Your goal is to be self-insured. While your investments haven't reached that point where your passive income is equal or greater that your expenses, you need to buy insurance.

Step#4: Create and Emergency Fund in the Bank Equal to Six Month's Expenses
These are for your daily expenses as well as unforeseen expenses. Having an Emergency Fund prevents you from dipping into your long-term retirement fund.

Step#5: Create a Retirement Fund Saving 20 Percent of Your Monthly Income in Various Growth Funds
Keep searching on the best places you can put your long-term savings. It will be determined by your age and the level of risk you're comfortable with.

Step#6: Create Passive Income via Business and Investments Equal to or More Than Your Expenses.
This is financial freedom. It is the place where, even if you stop working, you can still live your present lifestyle.

As you take one step after another step, you gain in financial health. You create your future by your choice today!

Wednesday, June 27, 2007


A lot of Filipinos today shifted careers to keep up with the trend. Schools are attracting enrollees for certificate courses and second courses. The two major careers that people chose to pursue other than the baccalaureate degrees they obtain are Special Education and Nursing. For more than ten years the United States of America is attracting applicants from different countries to work as teachers or nurses there. Filipinos are number one feeders of those work demands. It is understandable that many would opt to work in United States since earning dollars is an opportunity for them to alleviate from poverty. This is actually a form of escaping. People flight and resist facing the problems here in the Philippines. Remembering Rizal’s view that this country is having a cancer would definitely describe how one would continue to suffer if nothing is invested for risking. To work abroad is a great risk. However, one should be prepared physically, mentally, emotionally and spiritually. Seeing things beyond imagination, this should be a guide for those who want to go abroad. There is no such thing as easy life in other countries. The easiest life is in your own home. Other countries do have their own cancer. This must not give you discouragement but rather encouragement as you keep up with the challenges ahead of you. Nevertheless preserve and strengthen your values. Discover as well the root causes of our countries cancer. You might have a major contribution as to why this country is suffering. See things beyond imagination, you will learn later that it’s our attitude that has been nurtured that definitely disable this country. Change for the better. Start it within you without judging and blaming others. Good luck!

Tuesday, June 26, 2007

Monday, June 11, 2007


To start saving, the word "PAY YOUR SELF FIRST" should be your motto every pay day. It should be a habit from now on. Don't delay, don't say I can't do it now, don't say I'll save only after all my debts are paid. In short do not make excuses. Save at least 10% of your salary, do it every pay day. Is this something very hard to do? then you may start saving 5% of your salary then gradually increase it. It entails discipline, consistency and commitment to your goal. As what proverbs says "Money grows on the tree of patience". Spend wisely, at least keep a record of all your expenses each day and at the end of the day try to reflect which expenses are unnecessary and this time practice the gift of self-control. Les William said " the best way to save money is not to lose it". So control your spending habits by avoiding unplanned purchase.

Save your money in the right place, save in the investment vehicles that allows your money to grow at least 8 - 20 % annually ( you may start couching for the right investment company at Invest in a stable credit cooperative (for example CFI cebu). Avail of stable insurance that gives you protection ( Philam, Prudential and KAISER International). One must take note that the companies or corporations I am recommending here are examples of stable investment vehicles in the Philippines at present its up to you to make an in-depth research of their services. Why not save in the bank? the bank gives you only 1% interest annually, so isn't it wise to save or invest where these banks invest our money?. Earl Wilson said "money in the bank is like a toothpaste, easy to take out hard to put back". You may also start a small business that you love to do or otherwise use your core gift to earn extra income. (e.g if you are good in writing then work as a freelance writer and get paid, if you love cooking or baking then start making your own delicacies and sell them)

Do regular physical exercise, eat the proper kind of food, and give your self a good rest. I may sound like a doctor or health professional but remember the saying " Health is Wealth". Maintaining a healthy body and a healthy life keeps you safe from sickness and financial burden from hospital bills, doctors consultation and medicines.

Lastly, start giving. It is actually the law of nature," what you give comes back". So aim at becoming more generous especially to the poor and to the church. In gratitude we are human; in generosity we are divine: “You received without pay, give without pay” (Mt. 10:8). Give consistently no matter how small it is. Generosity according to Linda Popov is being aware that there is plenty for everyone. It is seeing a chance to give what you have and giving just for the joy of giving. Remember, multitudes of blessings will be at your door steps when you least expect it.

I wish this tips would give all of us an insight on how to save money not only for rainy days but also for our future ................... do you find this post hanging? do you want more? find out on my next blog on Achieving Financial Aptitude the Key to Financial Independence.