The primary reason most people have money problems is that in school they were never taught cash flow management. Without this training, they wind up working harder and harder in the belief that making more money will solve their problems. Unfortunately, more money often just sends people deeper into debt. More money won’t solve problems if cash flow management is the problem. As CEO of the business of your life, you’ve created a personal financial statement and analyzed it. The next step

Read the rest of this entry >>

WHAT IS AN EMERGENCY FUND? Life has a lot of uncertainties. You may not know that one day you’ve been hit by a calamity, you had an accident, you suddenly became ill, or your house got burned. In these circumstances, you need to be prepared. In personal finance, it is often called “saving for the rainy days”. These savings is often called emergency fund that is often used when we encounter emergency situations. WHERE SHOULD YOU PUT YOUR EMERGENCY FUND? Since emergency funds

Read the rest of this entry >>

As I have said in one of my post, one of the keys in achieving financial freedom is to earn more and desire less. Desiring less means controlling your spending. It has been said that no matter how huge your income is, if you don’t know how to control your spending and save for your future, you would end up nothing in the end. As one of my favorite quote in savings says: “Ubos ubos biyaya, bukas ay nakatunganga.” The first thing that you should do is to pay yourself first.

Read the rest of this entry >>

As many of you are aware of, Robert Kiyosaki’s Rich Dad Poor Dad book became one of the hottest selling books. He introduced the term “rat race” which refers to the ordinary income-spend lifestyle, living from paycheck to paycheck. In order to get out of the rat race, we need to build passive income from assets which would generate enough income to sustain our needs and wants. One of the things that we must first do is to change and open our minds from industrial age

Read the rest of this entry >>

Foods - they constitute the bulk of our expenses. It’s one of the basic neccessities in life. This is the stuff of life - the stuff that you put into your mouth and others’. It includes the Starbucks coffee you buy during coffee breaks at work, grocery items you buy every week for your family, and other types of foods you buy every now and then. This is such a variable figure and depends on your circumstances, whether you live alone, love cooking, or choose convenience food. It is

Read the rest of this entry >>

We are talking too much about frugality and ways to save money here. I’ve enumerated several ways on saving money in different situations - whether be it on work, at home, or during leisure times. It’s not always about saving because sometimes we need to spend to get the economy going. If we don’t spend, then basically businesses will shut down because they won’t be generating any sales. Spending somehow have an impact on how we contribute to our economy. It propels

Read the rest of this entry >>

Are you a reader of Good House Keeping Magazine? Last July 2009, I got my very first feature under their Money Makeover section. I was happy with the outcome and I was contacted again to further contribute to their growing number of readers.   And so since I knew that my second feature will come out this September, I urgently bought the magazine again to see how it goes. I bought one copy at the nearby Mini Stop in our office. The September 2009 issue Good House Keeping Magazine cover was no

Read the rest of this entry >>