If you want to become educated on business matters, then one of the things that you should know is the financial statement of companies. You need to know how to read numbers because numbers don’t lie. Financial statements are the health check up of businesses. Just like humans, businesses can be subject of certain “diseases” that you should know before it’s too late. Here are some of the financial ratios that you should know to examine the health of a business. This

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We’ve talked about the current recession before and we know that the main thing that triggered it is the subprime mortgage crisis which originated from several investment banks. But what about a more severe economic downturn called depression? According to Wikipedia: In economics, depression involves sustained, long-term downturn economic activity. While recession is seen as a part of a normal business cycle, depression is a sustained recession. It is characterized by abnormal increase

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Earlier, I made a post based on the things that I’ve learned from Kiyosaki’s teachings on the three basic business entities: Sole Proprietorship, Partnership, and Corporation. Kiyosaki says that most people earn money, pay taxes through withholding, and spend what little is left over. The rich do it differently. They earn money, spend it, and then pay taxes. The government gets less that way, and it’s legal. Employees of corporations: Earn       →     pay

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In one of my previous posts, I mentioned about the difference between good debt vs. bad debt. In summary, good debt provides money into our pockets while bad debt drains money out of our pockets. In the long run, good debt becomes asset while bad debt becomes liability. What will you do if you have an unsurmountable amount of bad debt? One of the easiest way to accumulate bad debt is through an undisciplined use of your credit cards. You keep on swiping and swiping that card without you

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All of us have some Chicken Little in us. You remember Chicken Little—the character in the children’s fable who ran around the barnyard warning other animals that the sky was falling. Chicken Little had a doom and gloom attitude toward life. He was a classic cynic. There are Chicken Littles everywhere, especially in the financial world. If you want to be rich, you need to stop listening to their clucking. “The-sky-is-falling” warnings from financial cynics are just a lot of

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I am happy to announce to my readers that this blog, Millionaire Acts, is featured in today’s Manila Bulletin Blog-O-Rama. This is my fifth public blog feature. If you have today’s Manila Bulletin issue, turn it to Tech News page D2. For my readers in other countries, Manila Bulletin is one of the leading newspaper here in the Philippines. Today’s feature is entitled “A blog on how to be a millionaire” which is what this blog is all about - for all aspiring

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Passion is where your heart is. It is where your interests and skills thrive. When you have a passion for things, you tend to do better at those. Finding your passion is the key to success in all your endeavors.   If we compare Rich Dad vs. Poor Dad, Poor Dad’s slogans are the words of fear; Rich Dad’s slogans are the words of passion. While fear reflects disappointment and passivity, passion reflects confidence and energy. What builds wealth isn’t fear, but passion. Sometimes it is

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I’m sure all Filipinos around the world know the name Manny “Pacman” Pacquiao. He is currently the undisputed, “pound-per-pound” champion of the world and was tagged as “The Destroyer!” He rose from extreme poverty to being the wealthiest boxer in the world today. What’s more amazing is he does not brag about his wealth and achievements. Despite his status right now, he remains humble, God-fearing, and respectful to his opponents and fans.

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In one of my previous posts, I tackled about overcoming fear. Today, it’s time to tackle on how to overcome laziness. Busy people are often the laziest. Busyness is a form of avoidance. If you stay busy you can avoid some of the things you don’t want to face—like exercising, or taking care of your wealth. What’s the cure for laziness?  Kiyosaki says a little greed. Isn’t greed bad? Too much of it, yes. An excess of anything is bad. The fact is, however, that all of us

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Inflation is one of the reasons why do you need to invest your money. In economics, we have known inflation as the general increase in prices of commodities. The higher the inflation, the lesser the value of our money. Inflation degrades the value of our money. Your money last year cannot buy the same amount of goods now. WHAT CAUSES INFLATION TO INCREASE? Increase in oil prices. Oil is a very important commodity in the world because it is one of the raw materials of every company used to

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