I’m sure you are now all familiar with the movie “Slumdog Millionaire” by Danny Boyle. It gathered the most number of awards from the recent Oscars Awards. It’s all about the story of Jamal Malik, an 18-year old orphan from slums on Mumbai in India. He joined the Hindi version of “Who Wants To Be a Millionaire?” game show and won. With the whole country watching the show, he is just one question away from winning the grand prize of 20 million rupees.

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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

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In one of my old posts, I gave some steps that you should take in your journey to financial freedom. Having financial freedom gives us the liberty of doing the the things that we enjoy without having to think too much on where to get the next meal that we would feed to our families. You may be familiar with Kiyosaki’s Cash Flow Quadrant where he divided people depending on where their income flows. It is the famous ESBI which stands for E-Employee, S-Self Employed, B-Big Business

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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

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Ok, we tackled about the first two business entities already: Sole Proprietorship and Partnership. Like most of all of you know, the third business entity is Corporation. A third and very different choice of business form is the corporation. Unlike the sole proprietorship and the partnership, the corporation is an entity completely separate from you, the person incorporating it. Your company is now an “Inc,”, an Incorporated and with that designation comes some additional paperwork and

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Yesterday, we tackled about sole proprietorship as one of the three main types of business entities. As Kiyosaki said, sole proprietorship is not the kind of business entity that he can recommend because as a business owner, you would be “solely” responsible and liable to your business and there’s a risk of putting your personal assets in danger if the business fails. Today, we would tackle the next business entity and that is partnership. Like a sole proprietorship, a

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