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

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?

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.