Choose To Make Your Money Make More Money

I am amazed at the response of people whenever I talk about "Managing Your Resources", a quick view of how people can create wealth through the resources God has given us.

I teach this lesson mostly to our workers going to Japan as interns under the JITCO/POEA program.

Their response? Their eyes brightens up and I feel hope starts to swell in their hearts!

Using Robert Kiyosaki's "Cash Flow Creating Wealth" and "Cash Flow Creating Poverty", they realized that it is possible for them to be millionaires if they can manage their money well by making "savings" a priority in their budget. Then, learn how to make their money make more money by "investing".

They don't teach this in school.

Investing For Your Future

Why do the rich gets richer and the poor gets poorer? Is it true in your case? In the Philippines, it looks like the concept is true. It became clearer to me when I ventured into investing in the Stock Market.

About the last quarter of 2012, I decided to try the stock market and prove that what my mentor, Bo Sanchez, says is really working. He said, he taught his maids how to invest in the stock market and they are successful! I thought, if his maid can invest, there's no reason I can't.

Investing Made Easy

Did you know that investing is really easy? Robert Kiyosaki, author of the famous book: Rich Dad, Poor Dad, has this theory that the best way to get out of poverty is to be in the quadrant of either a Business Owner (B) or an Investor (I).

I have been an employee for the past 27 years. It was rewarding financially, but it wasn't the kind of reward you want to end up when you retire. So, I decided to try investing in the stock market. My intention was to see how my money can work for me. Ultimately, I am investing in the stock market to gain experience and prove that it is better than putting my money in the bank. The return on investment (ROI) is better.

5 Things to Never Keep In Your Wallet

I used to think that I need to keep all stuffs in my wallet. Credit cards, ATM cards or Debit Cards, Driver's License, SSS card, etc. I am now of the opinion that it is better to have them all in my wallet just in case I need them, I have access to them right away. Right? Wrong!

Yes, I have realized that if I lost my wallet containing all these important stuff, I am in big trouble. Imagine calling all the credit card companies and canceling the cards to protect it from the thieves? That's just one problem. What about my SSS number? If thieves can access it, they can apply for a credit card in your name and make costly purchases in your name! Whoaaa!!!

How To Save Money Every Month

I just can't let this article pass us by. So I am re-posting it here. Here's some practical ways we can save on money monthly. I love what Moneymaking's idea to stop bringing your credit card for a month. I feel this is a real challenge to all of us. There's a false security in bringing our credit card with us, in our wallets, isn't it. We often tell and even convince ourselves that we might need it, "just in case". So we end up using it. If there is a supply, we usually create the need.

Well, here's what I want to focus on: what activities should we do. My friend from Fiji, Savenaca, always tells me, "No more theories, theories. Just do it!" So here goes:

1. Stop bringing your credit card. At first, you will feel very restricted but you will slowly realize where you are spending money on. It’s amazing that we remember our purchases so much better when we pay in cash.

Doing The Right Thing

I am happy with what I am doing. As I often say, sometimes we fail in managing our finance because we fail to monitor our expenses.

The starting point in budgeting our financial resources is to find out how and where your money is going. I am doing an experiment on my finances. To find out if I am within my set budget, I am taking note of all my financial transaction and recording them in a simple Excel file.

I am excited to see how it goes. So far so good, meaning, I am faithful and consistent with my recording.

See you on my next report.

Have a blessed life ahead of you.
Jimmy

Areas of My Finances I Need To Review

I was hit with two, yes two costly bank charges because of insufficient fund. I felt bad, really bad, because it's really a simple matter but I missed it. The charges cost me a lot. The money could have been used to put petrol on my car for 2 weeks. Whoaaaa!

How did I addressed of this problem? First, I immediately went to my bank and enrolled my checking account to their "back up plan" where they will take money on my savings account to fund my checking account if their is insufficiency. I should have done this a long time ago!