5 Financial Resolutions for a better and brighter 2015

This I got to post. If you're going to make a New Year's resolution, this must be included. You can't pretend that you're doing well financially if you have not done these major financial resolutions yet. 2015 is your time to start doing these. I hope this helps.

In a few hours, we’ll be welcoming the New Year with hope and enthusiasm. After all, it’s a chance to start our lives anew. We can pursue the dreams we may have left off, or perhaps start building something fresh and entirely different. The feeling that you are given a clean slate is exhilarating and exciting. It leaves you inspired to take on goals that we have yet to find the courage to start… until now.

How Your Hard-earned Money Can Grow For You

Matagal na din akong nagtuturo sa mga Overseas Filipino Workers (OFW) specially sa mga papunta ng Japan as interns under the JITCO program. More than 19 years na! Ito ang mga natutunan ko patungkol sa PERA, handa ka ng malaman?

1. Madali kumita ng pera. Hindi problema ang sweldo, lao na kung sila ay masipag, hindi salit sa ulo ni Shachou, mabait at masunurin. Kadalasan, meron bonus pa pag-uwi.

2. Marami sa mga interns ang nakapagpagawa ng bahay o napagawa at na-improved ang lumang bahay. Ito ang isa sa importanteng dahilan kaya nag-sasakripesyo ang intern na magtrabaho ng 3 taon sa Japan.

3. Marami ang natulungan ng intern sa mga pag-aaral ng anak, kapatid at minsan pamangkin.

4. Bihira ang umuuwi ng walang naipong pera. At least meron nakakapag-ipon ng 100,000 pesos (maliit na ito).

5 Mistakes You Make When Managing Your Debt

Good afternoon. Today, since we're all on holiday, and the typhoon Maring is bringing a lot of rain in Metro Manila, I thought of surfing the net. And I found this article from FoxBusiness by Allison Martin (Credit.com) on managing our debt. I would like to post it here for us to study and hopefully apply some of it's recommendations so that debts can be erased soon.

Not all debt is created equal. With that being said, there is no one-size-fits-all approach to managing your debt and avoiding excessive interest, fees and other penalties that could result if not handled properly.

Here are five mistakes consumers commonly make with their debt (and ways to avoid them).

1. Depleting Your Emergency Fund

If you have a substantial amount of cash in your savings account, allocating a vast majority of it to get out of debt may seem like the wise thing to do. However, the problem with this approach is that it fails to get to the root of the problem. The ultimate goal should be to get out of debt and stay out of debt, and not simply write a fat check to serve as a temporary patch. It is more sensible to jump-start your management efforts and cut costs elsewhere in your spending plan because emptying out your emergency fund can mean even greater debt if an emergency arises and you do not have an adequate amount of cash on-hand to cover the costs.

2. Having No Plan of Action

Taking a lax approach to your debt is a recipe for disaster. You may eventually achieve your goal, but the process may be lengthy and tedious. Just imagine a college student who randomly takes courses that appeal to them without ever looking at their transcript to see what’s needed to graduate.

Save yourself the headache and devise a detailed debt repayment plan that incorporates your financial goals.

3. Getting Caught in the Minimum-Payment Trap

Making the minimum payment each month may give you more flexibility in your budget, but you more than likely will never get out of debt. In most instances, particularly if the outstanding balance is high, the minimum payment may only cover interest (or not much more), leaving you with an untouched principal balance.

Instead of making this mistake, allocate as much money as possible toward your monthly payment, even if the amount is way more than the minimum, to ensure that your payment efforts are not in vain.

4. Robbing Peter to Pay Paul

Advancing cash from one debt source to another solely for the purpose of making your monthly payments may cause you to end up in a bigger financial crunch than you initially bargained for. If your financial situation is dire and you‘re robbing Peter to pay Paul just to make timely payments, reach out to the creditors and request that they grant you some sort of temporary relief until you are able to sort things out.

In addition, refrain from using any sort of financing to pay for purchases unless it is absolutely necessary.

5. Ignoring Statements and Credit Reports

Both your statements and credit reports paint a picture of where you stand in terms of your debt obligations. Ignoring these documents can be very costly and time-consuming down the road if inaccuracies exist because errors that are not promptly reported may be more difficult to dispute.

To avoid these issues, immediately review your statements each month when they arrive to verify their accuracy. If discrepancies exist, report them as soon as possible to the creditor so that the issue can be resolved before the inaccurate information is reported to the three credit bureaus. Also, review your credit report at least once every four months for mistakes – you can get them for free once a year through AnnualCreditReport.com. You can also monitor your credit once a month for free using the Credit Report Card.

Personally, I have applied Item # 2 and # 3 in dealing with my credit card debt. So far, I am now almost out of the rut and setting myself debt-free.

What's your plan?

To your debt-free life,
Jimmy

Read more: http://www.foxbusiness.com/personal-finance/2013/08/20/5-mistakes-make-when-managing-your-debt/#ixzz2caIWfRCz
Photo credit: http://money.howstuffworks.com/personal-finance/debt-management/debt3.htm

Are You Tired Of Your Lingering Debt?

That's the big question that many of us want to be answered. I have been there. It's only fairly recently that I am seeing changes in my finances. Would you believe that I have savings or should I say some investments now in the Stock Market? It's not BIG but compared to when I was working in Makati, I now have some!!! And I know it will grow. That's it, you need to know how to grow your money in order to get out of DEBT!

Here's an encouraging news that our mentor, Bo Sanchez, sent to all members of the Truly Rich Club. You see, I decided that I needed a mentor to help me grow my money. So, I joined the Truly Rich Club and since then I had taken advantage of every lesson being taught by Bo.

You will be informed and you will have to also make a decision when you read this very good article by Bo Sanchez.

Want Of Create Your Future Millions Through The Stock Market?  Now Is The “BESTEST” Time Get In.

          Forget my bad grammar.

          I’m making a very important point.

I believe that everyday is the BEST time to start investing in the Stock Market.  No kidding.  Because to start is glorious.  So many people don’t start!  All they do is talk about starting.  (Does this sound familiar to you?)

But there are days that are BESTEST than others.  (My Grammar teacher in grade school is rolling in her grave right now.)  And this month is one of those BESTEST days.

Why?  Because the Stock Market is down.  You see, in the past four months, we saw the Stock Market go up like a turbo rocket.  It went berserk.

But now, it MUST go down before it goes up again.  That’s just its cyclic nature.

That’s why—if you haven’t started investing in the Stock Market, get into it NOW.

Is This For You?

By the way, my letter today isn’t for everyone. 

Please disregard if this isn’t your concern.

I don’t expect everyone to join my TrulyRichClub.  

If this isn’t for you, I apologize for bothering you with this letter.

Because today,I’m specifically writing to people who want to grow their financial life—and who want my guidance in investing in the Stock Market.

Are you tired of being stuck in a rut in your finances?

Are you tired of your lingering debts?

Are you tired of feeling the pain of wanting to help people you love, but can’t, because you don’t have the resources?

Are you tired of your big fears and uncertainty?

Are you tired of working very hard everyday, only to realize that you don’t really have any savings for your future?

Just in case you’re that person, let me help you.

To know more about my TrulyRichClub, click the link below:

Yes Bo, teach me how to grow my money!

Tell me more aboutthe TrulyRichClub

May your dreams come true,

Bo Sanchez

PS. Don’t Miss This Window Of Opportunity When The Stocks Are Low.  To know more about the TrulyRichClub, click the link below:

Yes Bo, teach me how to grow my money!

Tell me more about the TrulyRichCl

How Can You Benefit From The Exuberant Stock Market

This is the best thing that happened to the Philippines! Our economy is growing and the stock market is exuberant. Yesterday it hit pass the 7000 mark!

So what's in it for you and me? You must not let this opportunity pass you by. How? Learn and be informed, that's how.

I made it a point to learn. We never stop learning isn't it. I became a member of Truly Rich Club and I am now being mentored by no less than Bo Sanchez.

You to can learn and benefit from the improving economy of our country. You are just a click away from it right now.

I am printing an article by Bo Sanchez. We receive this from him on a regular basis, as members of the Truly Rich Club. I know you will learn from this. Enjoy reading and let's learn together.

It Pays To Be Financially Literate

I teach Work Ethics And Values to our OFWs bound for Japan. Most, if not all, needs help in the area of finance. They can earn money with their skills but they don't know how to make it grow. You know, how to make your money make more money.

I have learned a lot from my mentor, Bo Sanchez, since I joined his Truly Rich Club. Today, I can say that I have been blessed to learn how to invest in the stock market, the Truly Rich Club way. It was one of my major decisions, but I was happy that I made a decision to follow my mentor's advice. Today, I am able to impart these lessons to our OFWs.

You too can learn a lot. If you want to make your money make more money, you must try investing in the stock market. Truly Rich Club makes it easy to understand how to invest in stock market for you. If Bo's maid were able to invest, you too can.

Here's one of Bo Sanchez' article that will inspire you to consider investing and joining the Truly Rich Club. I hope you will learn and enjoy it.

Has The Stock Market Gone Up A Lot?

You and I have one thing in common, the desire to prosper. Oh boy, isn't it true? If only I knew how to invest 30 years ago, I could have been truly retired and being supported by my millions because of my investments!

Well, you can avoid the delay and can start now. Why not retire early, say 20 years from now, a millionaire? Is it really possible? You bet, it is now.

For this, I would like to share my mentor's article "You Think The Stock Market Has Gone Up A Lot?"

I can tell you, almost a year ago, I did what he told me to do, invest in the stock market, and I did. Now I can see why. I am learning a lot and ready to pass this on to my children to prepare them for their future. You too can.