What if you Die too soon or Live too long?

One of the basic and powerful personal finance tool I learned from IMG is the X Curve Concept.

It gives a clear picture of the 2 stages of our Financial life.

Let's start with our younger years. 

This is the stage where we are still active and strong enough to work and make money. This is also the stage where responsibilities and expenses are big. This is the point where an active income is a must to provide for our basic needs like food, shelter, clothing, health, education and debts or loans. 

Our active income at this point usually comes from our job or businesses. Sadly, our basic needs are permanent while income is not. We still need to eat, change clothes, have a home and of course we need medical attention because as we grow older we are more prone to illness. 

It's best to practice our Prosperity formula at this point. This is also the best time to protect ourselves especially if we are the sole breadwinner in the family and many are depending on us. 

The question here is: What if we die too soon?

This is the question that shows how you really care for your loved ones. First, you need an Insurance to make sure they have something left when you can no longer provide for them. Next, you need to set up an emergency fund so in situations like loss of job, immediate hospitalization, fire or accidents you still have something to pay for the monthly bills while building your way to recovery.

Now on for Older years.

You may think that the next stage is still far from where you are now. But this stage is where we are all going to. Now what we did or did not do during our younger years will reflect on this stage.

Ideally, there should be less responsibility at this stage, no more debts and loans and at this point we should already be living on interest. No more dragging of ourselves to work and more bonding time with  the family. Our money should now be working for us.

Now, provided you have saved enough for your future. The dilemma is What if you live too long?

According to the latest reports,  life expectancy is longer now because of advances in medical technologies. You may have saved enough for 10 years after your retirement but is it enough? What if you lived another 10 years? I'm sure you don't want to be passed around by your children when you are already old and sick. By this time they already have a family of their own and on the stage of big responsibility. 

At this point you have to be covered enough for your health expenses, emergency fund and long term fund for all other expenses. Ideally at this point, you are already living on interests where your money is working for you.

Photo screenshot from sxyshandy

So what does the X Curve concept teach us? 

It basically shows that we should accumulate and save more while we are young and actively earning money to prepare us for our future. It takes time for money to grow and it is our great ally in securing our future. So better start now.

What's your next action?

1. Like the Pinay Helpdesk page to get bits and pieces of financial tips.

2. Answer this Appointment form if you are interested to attend a financial coaching in person or via online.

3. Join the Truly Rich Club to get your dose of financial and spiritual abundance.

*X-curve video credit

Be Storm Proof

Ella, What is your Investment?

This used to be my most dreaded question every time I discussed financial concepts and money machines. I cringe whenever somebody asks this. I take my time in answering this question. Thanks for the gift of gap. I'm almost tempted to answer in a Ms. Universe pageant way: "My kids are my investments not because I'm expecting them to take care of me when I get older but because they will be a reflection of how I have been as a parent. "

But of course the person asking the question wants to hear a different answer. It's actually a question of doubt challenging the person being asked. To put it bluntly: "Who are you to teach me these when you yourself is currently in debt?

Now before I answer that let me tell you my story.

3 yrs ago I learned about Bo Sanchez after searching for spiritual and inspirational ebooks and daily readings. I subscribed to his blogs and read his books. I attended his seminar on How to be truly rich.  I learned many practical ways on how to handle money and to change my perspective about it. I learned how to invest in myself by enriching my knowledge about finances and the importance of creating income streams versus depending on only one source. I enrolled myself in an online class mentored by Jomar Hilario, Bo's online marketing mentor about internet marketing where I have learned a lot and have used to empower myself and help other people as well. I learned about money jars, prosperity formula and the stock market because I joined the Truly Rich Club. I spent most of my free time attending all sorts of financial seminar there is while slowly adapting the bits and pieces of financial concepts in my life. I honestly learned a lot to the point of information overload. Then  I  realized I haven't done any real action yet.

You're probably asking why I haven't done any action yet despite the load of information I've been feeding my mind with. Ask me why.

Well, the place where you are now is exactly the place where I once was. Yes. That exact place where despite of all the promising and not so impossible great future (provided you coupled it with consistent hard work and persistence) I still have fears.

My big struggle was fear mixed with doubts. I believe in the logic and truth in the concepts I've learned. But will I be able to do it just by merely following the books? I believe in the vision of creating more Filipino Millionaires by the year 2020. But I fear that will I,  myself be included in that vision?  I believe in consistently saving for the future but I fear that I won't be able to sustain it as several reasons and the problems always appear like mushrooms. Well the truth is, problems do come and go but time doesn't. There will never be a right time and right opportunity when we don't take action.

You see, God is great. He prepared everything for me. He knows my fears so He has to bring me personally to my mentors. He brought me to SG to be surrounded by people who think the same as me financially.  All along I thought it was another story but amazingly He always has better plans for me.

Here in Singapore I met people who have started investing 2 or 3 years ago.  That very same time when I was just starting to follow Bo Sanchez,  attending financial seminars, reading blogs about Investing,  and became a Truly Rich Club member. These people have already gained a lot and have an impressive portfolio. They learned a lot too because they are doing it while following the stocks update from the TRC. While I was stucked with my fears, trying to secure myself by learning more, these people who bravely took action are already learning along the way and enjoying the planting stage.

The Financial Advocates from SG who attended the Money by the Book - Biblical Stewardship Seminar by Randell Tiongson, one of the most respected personal Finance  coaches in the Philippines.

It took me several years before I took my baby steps towards financial freedom. I finally opened an account with Citiseconline after more than a year when I last attended their seminar in PSE Ortigas. I opened my first Mutual fund account with Philequity and secured myself with Kaiser, a health card, insurance and investment all in one. I have plans for creating more after my debt management plan which hopefully will totally be wiped out before the end of the year.  I know doing all of these will give me more knowledge and experience which in truth is the best teacher. I'm learning along the way and especially now that my IMG family is here to support me and my friends who also share the same vision of No family left behind. As my recent post I got somewhere on FB: Friends don't let friends retire broke.

I haven't directly answered the question yet but I want to point out that if I bravely started the same time my new friends did, I would have been experiencing a harvest time now given the good economy of the Philippines recently. Honestly,  I have regrets but I believe God allowed it to happen because I have a mission to fulfill and that is to share this experience and teach the younger ones. Looking back, if I had known this 10 yrs ago, I wouldn't be here in SG away from my kids. My faith tells me to say Yes to God's will so here I am with the rest of my friends who are financial advocates as well ready to share and teach how to be good stewards of God's blessings. 

And to answer the main question. Yes I have investments but not that much yet but it is growing. I have just started and am continously learning. The important thing is I have successfully overcome the first challenge and that is when to start. The rest is easy. As a coach, I'm following the proper Foundation of investing. I was really inspired after I attended the Money by the Book - Biblical Stewardship talk by Randell Tiongson.  He told us financial advocates, " You are not storm free because you will still have financial problems but it makes you storm proof because you have solutions"

And I'm not scared anymore because I have support directly from mentors who have been doing this for years already. And that same support I commit myself too for my friends,  relatives and acquaintances I had coached previously and soon to be coached either personally or via online coaching.

And btw, being a Truly Rich club member not only teaches you about finances. It provides spiritual guidance and uplifting messages plus an opportunity to earn passively. It's actually one trickle of income stream for me. The rest, soon.

What's your next action?

1. Like the Pinay Helpdesk page to get bits and pieces of financial tips.

2. Answer this Appointment form if you are interested to attend a financial coaching in person or via online.

3. Join the Truly Rich Club to get your dose of financial and spiritual abundance.

Be storm proof, start now.

10-20-70 Prosperity Formula

One of the best things about IMG is the crusade to change people from being spenders to savers and eventually become Entrepreneurs and Investors. The big question is HOW?

Most of us consider our paychecks as profits. When we get the paycheck we always think of rewarding ourselves for the hard work we put in for the half month or for us OFWs, a whole month. There's nothing wrong with that actually. Remember that we have discussed this from our Money Jars  where we have Play Jar because we need to pamper ourselves too for balance. This also saves us from cheating in the other jars.

                                                      Photo credit: IMG TRM

And so this Prosperity Formula is a guide for us to be able to achieve the goal to financial freedom. It states Pay yourself first. Not pay our efforts by buying so many unnecessary things but pay ourselves by investing in our future. Keep in mind that we are still within the working age. The age line where we are still working hard to earn money. So take your paycheck as capital. Use it to earn more by investing in knowledge, experience and in various money vehicles that will yield more giving you greater opportunities to achieve your goals.

I learned this 10-20-70 Prosperity formula from Bro Bo Sanchez. I've been a follower years ago but it's only recently I really took the step to make an action. The baby steps really paid off. Now I'm not scared anymore and I appreciate more what I read and learn along the way.

This is a basic concept we all must learn and of course practice. 10 percent is nothing compared to what God has been blessing us. Remember that we can never outdo God's generosity. The mere fact that we have a source of income is already a great blessing, so what is 10% anyway? It's not necessarily exact but anything that comes from your heart will already please the Lord especially if that means helping others. Keep in mind that God is blessing us to be stewards of his blessings and be able to help others. 

The 20% is used for retirement plans. Remember that it takes time for money to grow. So while we still have the resources like, good health, strong body, a good paying job or a good business, we should start investing now so we can look forward to a good future. 

The 70% goes to our living expenses which includes our bills and basic needs such as food, clothes  and housing. Now since this is what's left, that means we have to live within the our means. With this we can surely fund our financial plans.

Here is a video of Bro Bo Sanchez when he guested in Aya Laraya's Pesos and Sense TV Show. He basically discussed here his different view on money and how it relates to our spiritual life.

 I personally believe that money is just a vehicle to bless more people and it will only be the root of evil if used otherwise. 

Money cannot buy you love, so where do you use your money?

Afraid of the Stock Market? Get a Mentor.

"The Philippine Stock Exchange's current bull run is expected to last for at least three more years, longer than previous cycles the country has seen, following the credit rating upgrade.
Read more: BULL RUN

(Photo: Bloomberg)

Philippine stock market's bull run to last at least 3 more years.
So what?

Guys, it's the best time to grow our hard earned money and save it from inflation. This also means that this is the best time to invest in our own country. Investing is like planting. Just like any plant, money takes time to grow. And now is the best time to start planting.

For guidance on what to pick in the stock market without the info overload, sign up and be a member of the Truly Rich Club. Truly Rich Club teaches people to become a Rancher, how to invest and know where to invest. Helping good people become rich so they can be a blessing to others.'

Click this link to know more.
TRULY RICH CLUB

Recently, Bro Bo updated that his first maid,  started her investment program under his guidance has now P518,844 in her stock market portfolio! Isn't it great?  She’s only 30 years old, btw.  Bro Bo added that if she keeps investing, she’ll have P15 Million by the time she hits 50. Yes. She is a maid! (Now she's been promoted as a bookkeeper).

Bro Bo Sanchez is the author of " My Maid Invests in the Stock Market... and Why You Should too!" Anyone who wants to borrow this book let me know or you can download from this link:

Truly Rich Club

Guide to signing up with TRC:


You can also follow my blog for bits and pieces of financial concepts that you can practice on your own. Don't forget to LIKE the page.

Pinayhelpdeskmom


"Opportunities don't happen, you create them."

When are you going to start?

Revised Money Jars

I have recently joined a group who aim to share financial concepts and learning to people who have financial goals. Actually, we also reach out to those who have no idea on how money works or how to make it grow. I myself have been reading a lot of these financial stuffs but it is only recently that I have seriously taken action. Our team is currently working to make more opportunities for educational meet ups to support those who are interested to learn more on how to achieve financial freedom. I am working my way through it, thanks for the help and support of my IMG team.

Yesterday we had an opportunity to play the Cash Flow game, learned more about mutual funds through mind mapping and money jars. I have my own version of money jars. I use my online bank accounts for each purpose. Now I have yet to revise my money jars since many have change already when I started here in Singapore. But to the benefit of those interested I'm re posting my old article about money jars.

My Money Jars

I first learned about this when I attended a financial seminar last year. That was the time when I started subscribing to Bo Sanchez' newsletters. I attended every financial seminar there is and was able to finish 3 modules in a week. I must say it's worth the time and until now I'm encouraging my sisters and even friends to attend. Every topic assures me of what I'm doing right and enlightens me on my weak areas as well.
I can say I'm good in budgeting. I can juggle my monthly income from payables to regular expenses and emergency stuffs. I have learned to make ends meet albeit sometimes it looks impossible even before payday comes. I've learned how to use excel program to tabulate and monitor expenses and payables. I have mastered the art(if there is such) of scheduling loans during enrollment and special occasions. All of these I'm proud to have learned all by myself but not until I've humbly opened my heart to my mentors. Note that my budgetting only covers expenses and it's not a good thing.

With my new money jars, it covers everything. It's not a physical jar that you can see in my home. It's actually a system I learned from one of the financial seminars I've attended last year. This system will not only build your wealth in the long run but it will also help you settle previous debts. It's originally 5 jars but I have mine divided into 7. Each account has a certain percentage from my income sources.

Financial Freedom Account ( FFA) 20%
- This is the account where I build my fund for future investments. This should be regularly funded to accummulate and be used if you plan to invest in stocks or finance a business or start up a passive income. Passive income is a business that generates income even when you sleep. I have mine in a bank with a passbook so I won't be able to withdraw in a whim. It shouldn't be touched unless I'm ready to invest.

Charity  10%
- This is  the account where a certain amount is kept for charity purposes. Remember that helping others is one way of giving back God's abundant blessings to us. It depends on how much you wanted to give back. But as saying goes, the more you give the more you receive, most of the time surprisingly better.

Play 5%
- After the seminar, this is the first account that instantly pops out of my head when I tried to review the money jar lessons. Why? Because this is the account where I put the amount alloted for my monthly self indulgence. We need to pamper ourselves too for balance. This also saves us from cheating in the other jars. :P

Emergency Fund (EF) 10%
- This is the account where I save for emergency purposes like medical bills, urgent house repairs and other unexpected expenses. Take note: Unexpected expenses. This too is safe in the bank to be withdrawn only if needed.

Education fund (EdF) 10%
- Before, I used to wonder why seminars cost so much. I also thought these are only for carreer enhancement and required to update professionals like medical practitioners and those in Information technology. Now, I'm always on the look out for latest and practical seminars related to my interests and source of income. This is where I allot my Education fund. This is also used to buy books, magazines and stuffs I need to learn about businesses and personal development. Remember that education is also an investment. The more we learn, the more we become a better person.

Living Fund- 40%
- This goes to Necessities. This includes regular monthly bills like water, electricity, groceries, food, transportation, subscriptions. It also depends on your lifestyle. If you have other activities you regularly do and pay monthly dues like running activities or going to the gym, include it here.

Kids Fund 5%
- I'm a mom and I have to set aside a special account for my kids activities and needs for our bonding time. It doesn't have to be expensive when you do activities with kids but it still helps to have a separate account that will not affect our regular budget.

You can modify your money jar according to what suits your status and lifestyle. If you are single, you can stick to the basic 5. What's important is that you are able to keep an amount to build your future, save for emergencies and still able to give back to God. It's your choice and my advise as always is START NOW. 

How are your money jars?

Start em Young

There's no proper age in learning how to save money than starting them young. As early as six months your kids  can already have their own savings account. Me and my kid's dad have started this early for our eldest Ichiro. We opened an account for him to save for his education. Sadly, it stopped sometime when he already started going to school. But because I believe in teaching kids through example, I opened a new account for each of them and a separate Remittance account for me. Each of these accounts have different purposes but it doesn't fail to let my boys experience banking everytime they accumulate quite big enough money of course courtesy of the generous Grandpa and Tita's and other sources.
                                                     

Here are the requirements if you want to open an account for your kids. 

1.  your child's picture
2.  2 pcs. of your ID picture 2x2 in size



my boys waiting for their turn to deposit their money


3.  2 Valid IDs
4. Your child's original birth certificate photocopied
5. Php 500 for initial deposit

This comes with a passbook without the ATM. I'm just not sure if you can request an ATM for the Junior Savers Club account. I don't need it anyway since I do online banking everytime. I do monitor these accounts online. These way all transactions are easy to manage without the hassle of long lines in Bayad centers and the fear of carrying a big amount of money during travel. 

For more information regarding online banking, check BDO website here.

Have you started yours?