Showing posts with label GodWhispers. Show all posts
Showing posts with label GodWhispers. Show all posts

Tuesday, July 26, 2011

One way to control spending: Discipline - DELAYED GRATIFICATION

My coach, Al Hollingsworth, defined DISCIPLINE as DELAYED GRATIFICATION. In the area of finances, this means that you postpone any plan to satisfy your desire to buy for the sake of the future. Example, you want to buy a brand new TV but your existing TV set is still working well. Because you want to discipline yourself, you delay the plan to buy a brand new one and save the money for better use.


Discipline works
I admire one of my staff in the office. She likes to buy a brand new Blackberry. Mind you, she has a Nokia touch screen cellphone now. Her dream is to replace it with a Blackberry, latest model. Today she told me she has decided that she will buy the Blackberry in CASH by saving for it. She can get the Blackberry now by just one swipe of her credit card. But she is wise and will stick with her plan to save first and buy later. Isn't that discipline?

Keeping Track of your money
Another way to enforce discipline in your finances is by keeping track of how you spend your money on a daily basis. This is hard work mind you. I did this for a month with the help of my wife. Everyday, I list down our expenses on a small notebook that I always carry with me. Every centavo that I spent was recorded. The simple exercise is enough to make me reconsider any expense I make. It made me think twice before I decide to buy anything. Remember, it is a matter of discipline-delayed gratification.

This exercise gave me an idea and I saw a pattern of where my money went. It gave me control over my expenses. One example was my phone bill. I found out that my cellphone bill way too high from my budget. You know what I did? I saved money by cutting my non-essential calls. It worked for me.


The tracking report also gave me valuable information, which I used to prepare my monthly budget.


Why not try it? I promise you, it will be an eye opener. You'll be surprise where your money goes.


To your debt-free life,
Jimmy


P.S. If you want a sample of an expense tracking notebook, I would love to give you one. write me a comment and your email addy and I will send you one.

Photo credits:
http://www.flickr.com/photos/teegardin/5913014568/sizes/m/in/photostream/
http://www.flickr.com/photos/30691679@N07/3252506530

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!