Tuesday, March 22, 2011


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Thursday, March 17, 2011

5 Simple Ways to Erase Debt

I used to owe a lot of people and credit card companies. I was deep and wallowing in debt. I had a good job, driving my own car yet deep in debt. I didn’t know how to manage my money. I was loose.
Then one day, I received a demand letter from a law office, threatening me to pay or else? Being a young, I didn’t know how to handle the threat. I felt like it was a shock treatment. I learned my lesson. I decided to do something about my debt. I talked to the credit card company manager and asked for practical way to pay my debt. Yes, slowly but surely I was paying and getting out of debt.

I learned to prioritize my expenses. It was like starting all over again. Somebody taught me how to budget. It was simple but effective. I used a simple system called the “envelope” system. Each time I received my pay, I put money on each envelope, starting with “debt payments” envelope then the rest. My life changed. I cut down on self-indulgent activities and stuck to my budget.
When I got married, the first thing we did was to make a budget. My wife, my lovely wife, Maritess and I agreed to have a budget and stuck with it. I got out of my credit card debt. So, it was a good start!

Today, we still work on a budget. We do this at the start of the year. We review it at the middle of the year and assess it at the end of the year.

Here are 5 simple ways to erase your debt:
1.        Decide you want to get out of debt.
2.        Do something about it. Contact all creditors, honestly relate your problems, and arrange an equitable repayment plan. Creditors love it when you talk to them sincerely. And you know what? They will agree with your repayment plan.
3.        Destroy all credit cards. Buy on a cash basis, and sacrifice your wants and desires until you are current.
4.        Make a budget. Establish a payment schedule and allocate at least 5% of your income for debt payments.
5.       Stick with your budget. If the expense is not in the budget, do not proceed. Be disciplined.

Yes, discipline is an integral part of this debt-free process.  My coach in “Vertical Leap”, Al Hollingsworth, defined Discipline as “delayed gratification”.
Why stay in bondage to your debt? You can live a debt-free life now. Just make a decision!

To your debt-free life,
Jimmy Ching

P.S. This year, instead of focusing on not getting into debt, I decided to increase my income by creating additional income stream. I have joined Jomar Hilario’s “The O.nline Mentoring Club”. He’s helping me make money online.. right now! Jomar is one of the Philippines' foremost online business guru. He has helped a lot of people become internet entrepreneurs. What I am learning from Jomar, I wish I did when I was younger. But, the good thing is you can always start anytime you decide to do something about your situation. Today I am being mentored by one of the best in online business guru. How about you?

Friday, March 11, 2011


The first time I applied for a credit card, I went through a rigid process called “credit investigation”. During those days, the credit card company will make sure that you are capable of paying them. So, they ask you a lot of things regarding your income, your billing statements, the house you live in and many more. And do you know what? The process takes time, so you have to wait for their approval. Credit cards in those days were precious commodities. When approved, you feel like you’ve won in a lottery.

Today, with so much competition, the credit card companies are giving away the credit cards. They just mail it to you and all you have to do is receive it, sign it and you’re in. Others set up a booth in malls and offer their cards to anyone who especially if you’re an existing card user. So easy!
So, here you are with your new credit card and you start using it. The problem comes when the bill starts arriving every month. Today, many use the card as if that is their money. They forget that credit cards are used for convenience purposes. It means you have money but instead of paying cash you use your card so you won’t have to carry cash anymore. You pay on time when the bills come.

Do you know that the credit card companies don’t like it when you pay on time? They love it when you default on your payments because they earn from the interest charges and late payment penalties. They also have the “minimum amount due”, which means you can pay the "suggested" amount and worry about the principal later. So you end up with mounting debts! And here’s the thing, the interest is compounded monthly!

If you’re in this rut, let me tell you there’s a solution to your problem.

I came across Sha Nacino, through Trace Trajano. I’ve joined his Buy Your First real Estate Deal club. Trace co-authored a book with Sha that will help you get out of debt. Sha used to be in debt from using her credit card. The good thing was she saw the problem and she made a decision to do something about it, thus the book.

Here’s the nice thing about it. They are giving you a FREE chapter on how to pay-off our debts in one year or less. Wow, isn’t that good news?

To your debt-free life,
Jimmy Ching

P.S.What are you waiting for? Its time to do something about your debt. Click on this link NOW and change your life to a DEBT-FREE LIFE!

Wednesday, March 09, 2011

Winning Over Debt By Changing the Way You Think

I graduated from college because my parents decided they would do everything to finance my schooling. I graduated from one of the finest schools in the country; Mapua Institute of Technology (thought you might want to know). But, here’s the thing, they did it by borrowing money from their friends and relatives. As a result, they ended up in debt, financially and emotionally. I will forever be grateful to my dad and mom for their support and commitment to give us the best education.

In debt even before they leave
Like them, many are also going through the same process in making both ends meet just to see their children finish school. I know this because I meet them every day. You see, I teach “Work Ethics and Values” seminar in our company, Uno Overseas Placement, Inc. We send out workers to Japan as Technical Interns. One thing common to these Interns is that they go into debt even before they leave for Japan. This is disheartening to say the least.

Connecting to the right people 
When I came across the teachings of Bo Sanchez and later joined his Truly Rich Club, I made it my goal to impart the principles I’ve learned to our interns. I love sharing with them these principles because I have seen the effects of these in my own life. Today, I have almost eliminated my credit card debts.  The first thing that Bo teaches is the renewing of our minds. Changing the way we think. Bo said, Unless You Get Consistently Immersed In a New Way of Thinking, You Won’t Change!” 
People in debt could not think positively because they are in bondage to fear, worry and anxiety. The more they think about their debt, the more they sink deeper into it. Their ability to change the way they think is impaired.
A new mind set
In order to change the way we think, we have to renew our minds. Bo does this by supplying us with positive, encouraging words. In TrulyRichClub, we are fed daily with God Whispers, Soulfoods and lessons on how to create additional income streams. I love it when I receive my daily dose of encouraging words that renew my mind.  Because of my involvement with Bo, I also came to know Jomar, his mentor in internet marketing (but that is another story, which I will tell you in my next letter). Bo says that in order to change your life, you need to get rid of your poverty mindset and gain a wealth mindset. He has learned how to change mindsets: Through the simple act of repetition.  Because repetition is the mother of all skill.  By constantly immersing one’s mind with a new way of thinking, a new mindset is formed. This was the reason why Bo created TrulyRichClub membership.
Opportunity, not Security
Opportunities! Look for opportunities in your daily situations and problems. It was Gen. Douglas MacArthur who said, “There is no security on this earth, there is only opportunity.”  When we change the way we think, we begin to see opportunities. The Bible tells us that “As a man thinks in his heart, so is he.” If you think you are a winner, then you will be one. If you think you are a loser, then you will be one. In our “Managing our Resources”, a topic we teach our interns in our values seminar at Uno Overseas Placement, they learn how to do a simple home budget. This is the first step towards putting their financial house in order and this will lead to living a debt-free life.
To your debt-free life,
Jimmy Ching

P.S. If you are reading this and would like to gain financial freedom and released from your debt, why not try TrulyRichClub! When I did, I felt like entering into a new dimension of opportunities and possibilities, limitless possibilities. It is worth it! Remember: The only thing permanent in this world is change!

Saturday, March 05, 2011

Eliminating Debt

Face the fear. Attack the debt. Be free.

Is debt overwhelming you,
or are you overwhelming it?

If you think about it, the cover of this package could illustrate both scenarios – a life vulnerable to a mounting flood of debt, or a life rising above it toward a stronger financial position. Which best describes your current situation?
There’s no denying that debt takes a toll on us financially, emotionally, relationally, and spiritually. That’s why this study is so crucial! In less that two hours, the Eliminating Debt video study will help you create a plan to attack your debt and be free from the dangers of debt dependence.

Main topics covered:

  • Five reasons why people dive too deep into debt
  • Steady, practical ways to eliminating debt
  • How to address special issues like credit scores, dealing with creditors, and bankruptcy
I believe we can really benefit from this study material from the Crown Ministries. They are reliable. They are now here in the Philippines doing studies and mentoring through the ministry of Christ's Commission Fellowship. It is worth looking into if you are serious in eliminating debt in your life. Live a debt-free life!