Financial Freedom GOALS: The Richest Man from Babylon.

Sharing is caring muna tayo mga #Kabayan! About the lessons that we can use to achieve our Financial Freedom GOALS as learned from the book:

The Richest Man from Babylon.

The Richest Man in BabylonThe Richest Man in Babylon 2.JPG

1) #Start thy purse to fattening: Put simply – pay yourself first. Start by investing 10% of your total income. Do this consistently, make it a habit. As your income grows, so must your savings.

2) Control thy #expenditures: In layman’s term – live below your means. When you grow your income, it doesn’t necessarily mean you have to upgrade your lifestyle too, of course you can and you have all the right to. But go back to step 1, pay yourself first, it is possible to increase your savings to 15% to 50% before you upgrade your lifestyle. This way, you reach your goals sooner.

3) Make thy gold #multiply: Be smart, make your money work for you. Take advantage with the power of compounding interest- invest, invest, invest!

4) #Guard thy treasures from loss: Going back to step 3, always analyze your investment plans well before you sign up for anything. Do your research, there are a lot of information available in the Internet for free. Ask your friends for recommendations, much better if you can ask your mentor for advice. Beware of fishy promise of enormous returns! #NoToScam

5) Make of thy dwelling a #profitable investment: Rent-to-own, BUT, this depends on your lifestyle. There are a lot of factors to consider on whether you should buy/build a house or just continue to rent lalo na ngayon sa mga Millenials. Please do your calculations wisely, of course go for the option where you can save more in the long run.

6) #Insure a future income: Retire a Multi-Millionaire, because you can! Nowadays a lot of insurance companies are offering insurance with investments such as Pension Plans, just choose which best works for you. Choose wisely, sleep tight, and look forward to retiring comfortably.

7) #Increase thy ability to earn: Either you are currently an employee or an entrepreneur, acquire additional skills that can fetch you extra salary or a part time pay. The more you become good at what you do, the higher amount of money you can get for the value of your work.

Syempre dapat walk the talk tayo 🙂 how am I faring so far?

1. Sa #Pay Yourself First — nakaka save ako ng minimum 20% at maximum 100% ng salary ko every month. Paano naging possible ang 100% you ask, eexplain ko sa step # 3 & 7.

2. Sa #Live Below Your Means — eto proud ako dito, kasi dati hindi ko alam to kaya ako si tangengot I was living above my means hahahah (nakakatawa now pero nakakaiyak talaga ito noon)! Right now I sitll live in the same area where I was 13 years ago, taga Dubai ako super mahal ang renta kaya ang tanging na-upgrade ko lang is a from bed space naging kwarto ang tinitirhan ko but for a fraction of a price… Kasi yun ang secret recipe ko: KURIPOT ako madalas.

3. Doon naman sa Make Your #Money Work For You. Meron akong few sources of passive income na malaking tulong sa monthly gastusin.

4. Sa pag analyze naman ng #investment na papasukan, nagreresearch and ask around lang ako. Halimbawa nung mag invest ako sa Mutual Funds nagbasa ako about sa Phil Equity at na meet ko pa nga sa isang event si Mr. Wilson Sy, as if kulang pa yun binasa ko rin ang kanyang libro hahaha! Sa stock market naman nag background check muna tayo sa COL. Madalas ko din pagtanungan ang mga friends ko about dito.

5. Make of thy dwelling a profitable investment, dito naman, connected yung sa akin sa # 3, kasi inilipat ko yung residence namin sa less expensive and low maintenance setup. Then ginawa naming paupahan yung lumang place which luckily is commercial area na ngayon. The #opportunity presented itself, so I had to grab it mga kabayan!

6. Sa pension plan naman, proud din ako dito, kasi before may mga nagofffer na sa kin ng 12yr plan na ganito pero tinatanggihan ko kasi nanghinayang ako sa pera at time. Then narealize ko napakadali pala lumipas ng panahon. 8 years ago nagsimula na ako, and this year natanggap ko na ang kauna unahang pension ko, pero hindi pa man ako retiro, kaya ang saya saya di ba! Adik ako dito sa mga pension plans hahahah!

7. Increase thy ability to earn. Learning never stops ika nga, and if you put what you learn into actions ayun werpaful! Every year, basta masipag ako (palagay ko lagi naman) may inaaral akong bagong skills, tapos inaapply ko yun sa trabaho/business para kumita ng extra 🙂

Sa una mahirap sundan, pero pag naging #HABIT mo na, madali na lang mga kabayan!

Eh bakit hindi pa ako umuuwi ng Pinas? Kasi may pamilya na ako dito, at madami kaming tinutulungan ng pamilya ko which is mas madali pag nandito kami sa Dubai 🙂

Baka may maituro ka rin sa aking technique, i-comment mo naman, or add mo ako sa Facebook, usap tayo!

I am always willing to learn. Salamat in advance Kabayan!


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