A Simple Budget Strategy

You may have your reasons why you think there's an absolute need to earn more, that your monthly paycheck is not enough. You wish fervently that tomorrow you will be given a raise (or you will find a better paying job… or you will finally hit the lotto jackpot, etc.. etc..) in order to live comfortably.

Bo Sanchez' Truly Rich Club

More than a year ago while I was in Manila, busy with processing my papers so I could join my husband overseas, I grabbed the opportunity to attend one of Bo Sanchez' How To Be Truly Rich Seminar. I took away valuable lessons from that seminar, which I remember I paid only less than Php500 for. (Click here for details of this seminar).

When I moved overseas I felt the need for serious help to sustain the zest in growing my financial life even abroad. So I signed up to be an international member (Php997 a month) of Bo Sanchez' Truly Rich Club.

Investing vs. Trading in the Stock Market

I just got off the phone with my Mama. I informed her (as I try to be open with her regarding our financial strategies) that we have started investing in the Philippine stock market. Her first reaction was, “Aren’t you scared? I hear about people committing suicide because of the stock market...”

It is not because we are not scared. But when we think about the possibility that after years of toiling overseas we might find out that all we have is a house and money in a savings account (which will be grossly devalued because of inflation), and worse we might have to rely on our children for financial support when that savings account runs out... now, that scares us more. It is this fear that fuels us to look for better ways to build our retirement fund and one way is investing in the stock market.

Guide to opening CitisecOnline account from overseas

More Filipinos are now encouraged to invest in the Philippine stock market. But most don't know where to start, and the common misconception is it is difficult to do it from overseas. I had the same misgiving before but from personal experience, it is actually a piece of cake. Here are the steps I did to open my CitisecOnline account:

1. Email helpdesk@citiseconline.com that you are interested to open an account with them. You will receive an email from CitisecOnline customer relations officer who will guide you with every step.
   

What Is Your Net Worth?

Know exactly where you stand financially by calculating your net worth.  The formula is simple.

Net Worth = Assets – Liabilities

where Assets are what you own and Liabilities are what you owe. So Net Worth is what’s left over, the true measure of your financial wealth (or the lack of it).

EnRich Personal Finance Talk

Work on your Wealth Plan

Step 0: Give to God a monthly love offering (10% is a good guide)

Step 1: Free yourself from all bad debt

Step 2: Increase you income

A. Be the best employee by taking on an entrepreneur's mindset

B. Start a business on the side based on your core skills

• Two types of business to get into that you - which should you choose?

1. Business that you already know
2. Business that you don't know (As silly as this sounds, a lot of people choose b!)

• Other import requirements

1. Get a business mentor and establish a training relationship
2. Sell your core skills
3. Create the right entity for your business (sole proprietorship; corporation; etc.)

The 5 Steps To Get Out Of Bad Debts

Q: How do you Eat An Elephant?
A: One Bite At A Time.

1. Never Borrow Again

2. List Your Debts