I MET JOMAR HILARIO

It has been my desire to meet my mentor personally since I became a student of the Online Mentoring Club. Finally, last week, April 30, at the Think Rich Quick (TRQ) Seminar of Trace Trajano, I met my mentor, Jomar Hilario! In just the span of five minutes of talking with him, I learned a lot. The funny thing was when he asked me who I was. He had a hard time recalling my name. But when I mentioned to him about my BLOG, Debt Free Life! Philippines, he immediately remembered. To me, it means only one thing! He reads and studies my blogs!

Thank you, Jomar. In my amazement, I forgot one thing though... to have a photo op with him. Well, maybe next time. I’ll have that privilege when I join the Breakthrough Seminar.

Every successful person has a MENTOR. Manny Pacquiao has Freddie Roach. He is a billionaire. I have Jomar Hilario, and I am a millionaire!

To your debt-free life,

Jimmy

P.S. Internet Marketing and blogging will earn you passive income. One sure way you can erase your debt. That’s one reason why I enrolled in Jomar Hilario’s Online Mentoring Club. More than the technical information and techniques that I have learned, my mentor opened my eyes to new opportunities and possibilities of MAKING MONEY ONLINE!

You too can.! Be mentored and be the next Online Internet Marketing guru. 

DEBT IS HABIT-FORMING

The other day I got so encouraged by Dani Johnson’s idea on eliminating Debt. As I listened to her, the words she said still rings in my ear: “Debt is a habit and it has nothing to do with how much money you make!”

Anybody who wants to get out of debt should consider this seriously. Debt is habit-forming. It becomes your second nature when you don’t do something to stop it.

How do we get the habit?

You start simply by doing things REPETITIOUSLY. When you buy stuff on credit repetitiously, buying stuff on credit becomes EASY. When buying stuff on credit becomes easy, buying stuff on credit becomes PLEASURABLE. When buying stuff on credit is pleasurable, buying stuff on credit will be done OFTEN. Now here’s the clinger... When buying stuff on credit is done often, buying stuff on credit becomes a HABIT!

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That’s how you acquire the bad habit called DEBT!

What’s the answer? Simply replace this BAD habit with a GOOD habit. The GOOD habit is buying stuff only after you’ve saved for it, in CASH. Now go and repeat the process by replacing that BAD Habit called Debt.

Here’s to your debt-free life,

Jimmy 

The Modern day Slave

If you are in DEBT, you are a SLAVE, a modern day Slave!

In Israel, in the olden times, the Year of Jubilee was celebrated every seven years. People looked forward to this seventh year because it was the year when people were released and freed from the bondage of slavery. If they owe anything, their debts were cancelled. If they sold their land, it was returned to them. It was one of the most joyful time!

But why do they become slaves in the first place? When people owed something and couldn't pay, they become slaves to their creditor. Their creditor could sell or even kill them. Today, this still happens. Creditors could make your life miserable.

“Debt is a slavery of the free” Publilius Syrus

Today, many are still slaves to their creditors. They have allowed themselves to purchase items on credit hoping that when their paycheck comes, they can settle the debt. People buy appliances, cars, personal items and even groceries on credit. Unfortunately, the more they buy on credit, the more they wallow in debt until they can no longer free themselves from the slavery of debt and the tyranny of the creditor!

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“The only man who sticks closer to you in adversity than a friend is a creditor.”
-Unknown

“Live within your means; never be in debt, and by husbanding your money you can always lay it out well. But when you get in debt you become a slave. Therefore I say to you never involve yourself in debt, and become no man's surety. If your friend is in distress, aid him if you have the means to spare. If he fails to be able to return it, it is only so much lost.” Andrew Jackson

There it is! Many times we miss the answer. We complicate things in life. The first step towards living a debt-free life is to follow the advice of Andrew Jackson, “live within your means”! I suggest that you take stock of all your debts and choose today to stop buying things on credit. Do not spend more than you earn. Live within your means.

P.S. There is a way out of this predicament. One thing you need to do is educate yourself and learn from those who have been there and have overcome their debt problems.

As they say, don’t go to a drowning man for swimming lessons. Never again will I be a slave to my credit card. I have learned my lesson, the hard way. Today, I am privileged to help people put their financial house in order. You too, will be set free from debt. Decide today to be debt-free. You can!

To your debt-free life,

Jimmy

#1 Reason Why I blog

I am a Pastor and a businessman. After working for Fujitsu Philippines for 17 years, I retired in 2000 and went into the ministry.  In 2008, I went back to the marketplace to manage a recruitment agency, UNO Overseas Placement, Inc. We send Filipino skilled workers to Japan under the Technical Intern Training System of the Japan International Training Cooperation Organization (JITCO). Part of the training we give to our Interns is the “Work Ethics and Values Seminar”.

The Work Ethics and Values Seminar was designed to help our Filipino Interns cope with life in Japan and equip them to face their future with both emotional and spiritual substance. The most important aspect of this 3-day seminar is changing the way these interns think. Most of them come from the province and urban areas. As such, ingrained in them is the poverty-mentality.

Seeing them wallow in poverty and in debt even before they leave for Japan, I made it my goal to help them be set free from this evil bondage. To break a bad habit of living in debt is not easy. The initial step towards freedom is to teach them to change the way they think and then increase their literacy about finances. So far, we have made progress. We believe money is not the answer to living a debt-free life. When they learn to manage their finances properly as good stewards of what God has given them and then take on an “investor mentality” as opposed to a “consumer mentality”, the interns begins to see that they can prosper!

I love helping our interns or OFWs change the way they think!

Last week, one of our interns came home after a 3-year contract in Japan. He is now a millionaire! What is his secret? He followed our advise by diligently saving 30,000 Yen a month! Now, his plan is to invest part of it in a food franchise.  Indeed, there is hope for our OFWs.

Last year, I became a member of Truly Rich Club. I am now incorporating the principles that I’ve learned and tested from Truly Rich Club to our interns. It is easy for them to understand financial literacy when they see how it works!

To your debt-free life,

Jimmy

P.S. I became more passionate to see our OFWs set free from poverty-mentality. Late last year, I decided to do online marketing and took Bo’s recommendation to enroll in Jomar Hilario’s Online Mentoring Club. I am now in my 4^th month as a student of Jomar Hilario. I am making progress and one day, I will be sharing with them what I’ve learned.

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This blog is part of our lesson. Honestly, it was the monetary returns that motivated me to do blogging. Today, I found the real reason for my blogging: to help my “Kababayans” specially our interns and OFWs, be set free from wallowing in debt.  If I can show them how to be free through my blogs, I would have done a good job. That’s why, now I love blogging!  

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.

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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.

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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?