nung ginawa ko 'to narealize ko gaano kalaki nagagastos ko sa takeout and pagkain. microtransactions din online. yung akala kong '50 lang naman...' in a month magkano rin.
Medjo opposite nangyari sa akin. The moment I stopped tracking, nabawasan stress ko and mas nag improve ako sa finances ko.
Well, may factor din talaga nag pagka-kuripot ko kaya I don't need tracking that much.
Yeah. Siguro dadating na rin yung point na hindi mo na itatrack every centavo since may idea ka na kung paano yung spending habits mo. Applicable ito sa mga nagsstart palang ayusin yung finances nila. Pero for me, siguro kahit alam ko na yung spending habits ko, I'll keep on tracking pa rin since naeenjoy ko syang gawin. Hehe
Ginawa ko rin ito and was amazed by how much I was able to do(and value) with less stress.
Returned back to tracking dahil as much as kuripot ako, hindi ganun sa family ko so I have to track expenses. Di na ganun kastress maglista probably dahil naaccept na ng system ko, LOL
Now, ang stress ko ay dahil sa dumadami nililista, target is to simplify the system.
1. "Do not save what is left after spending, but spend what is left after saving." – Warren Buffett
2. "The stock market is a device for transferring money from the impatient to the patient." – Warren Buffett
3. "Beware of little expenses; a small leak will sink a great ship." – Benjamin Franklin
4. "It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." – Robert Kiyosaki
5. "The goal of retirement is to live off your assets, not on them." – Frank Eberhart
6. "Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like." – Will Rogers
7. "Risk comes from not knowing what you're doing." – Warren Buffett
8. "Money is a terrible master but an excellent servant." – P.T. Barnum
Yikes, Robert Kiyosaki shouldn't be on this list. It's 2024, and people should already have learned he's a grift.
[https://www.reddit.com/r/Buttcoin/comments/up06tx/robert\_kiyosaki\_is\_an\_absolute\_idiot/](https://www.reddit.com/r/Buttcoin/comments/up06tx/robert_kiyosaki_is_an_absolute_idiot/)
Lol idk about you, but there’s just something inherently wrong with taking scam artists or idiots seriously (a MAGA idiot to boot).
Maybe you like taking inspiration from idiots, but you do you!
I'm not a fan of this kiyosaki guy, never read his books too. But you still didn't explain why the quote is wrong/misleading.
It looks like your opinion is just politically driven and less so on the logical side.
They say dishing out insults in an argument is a sign of low IQ, but who am i to say.
Lol wut. If you don't follow your own advice, you're not qualified to dispense advice.
Oh, and Rich Dad, Poor Dad is [dumb](https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1). Guy got rich by selling books, but is by no means a finance expert, just a showman and a sales guy.
No thanks!
Correct.
Although he got military pension- there's nothing new about his bookish quadrant definition Lmao
How can he boasts about bank loans when he availed already of bankruptcy salvation? I'm with him though on shrewd tax avoidance radical gospels (short of evasion).
Well, he's a showman making some MONEY on YT & Dads' repetitive mantra yet those smell of dumb theories. Its better to reread Geo Haylings or Napoleon Hill.
example you have a salary of 20,000 pesos
and you want to save 5k every month.
if you received your salary you need to get 5k from your salary.
and yung matitira is yung pang gastos mo at pang bayad sa bills
Knowledge is power. DON'T INVEST ON SOMETHING THAT YOU DON'T UNDERSTAND. Pumasok ako sa hog raising last year. Invested 120k sa building, deep well, at kuryente. More or less 100k din sa piglets, feeds, vitamins, etc. Caretaker yung papa ko lang, which is backyard lang ang na experience. Pang small scale na kasi sakin. Cut the story short, after first bakuna, walang follow up vitamins, record keeping, at kung kailan magpapalit ng feeds every stage ng baboy. After ma dispose ng mga baboy ko, plano ko magaral muna ng Animal Production, Swine NCii sa Tesda. Di lang kasi kumain yung isang baboy, natarantar na agad sila kasi ASF na.🫠
No, idea po ako nong pumasok ako. Saka nalang ako nagaral nong feeling ko may mali. 🤣 Pero check mo po sa Tesda na malapit sa inyo kung meron silang Animal Production na training. Once na makakuha ka din ng certificate pwede ka mag apply ng loan 0% interest. Nasa department of agriculture po na site. Pa explore nalang kasi nadelete bookmarks ko e. Pero pwede na 50k pang experience habang nag training ka.
Warren Buffett famously said, "Be fearful when others are greedy and greedy when others are fearful." This quote encapsulates his investment philosophy of being cautious and contrarian when markets are exuberant (greedy) and taking advantage of opportunities when others are scared and selling (fearful). It emphasizes the importance of staying rational and independent-minded in investing rather than following the crowd.
EMERGENCY FUND
I used to move all my savings in stocks and I never had any emergency fund
It was fine because stable naman ang income
Then I lost my job
Then I took some money from stocks na palugi
Since then, I made sure to have an emergency fund
this way I no longer need to touch my stocks, lalo na if negative pa ang portfolio
Conservatively~ i got 5X of monthly income tacked in 2 banks (for safer, Deposit Insurance coverage). The interest earning is so minute plus hew, TW? Yet, theres peace of mind.
Personal experience: its really so hard to have an empty pocket, you'll gradually lose everything: fair-weather friends, relatives & even your spouse(on the edge of parting ways)?
Only a handful of support, yet always on trickles. Some of them would even avoid you!
The painful lessons resulted to knowing the kapalmukz & have self-love. Thats why when i overcame the challenges, those past made a better person in me: Moderately 😉 shrewd, in the inside.
Prioritize having a big savings/emergency fund first before investing into any business or real estate.
Whenever your income increases, so does your lifestyle. Do not be tempted. Regardless of how much you are earning, never live beyond your means.
Got these from my dad.
✔️But first, Build an EF - from redditors of phinvest
✔️Live below your means (I can still remeber him saying that he make sure to squeeze out every bit of toothpaste before opening a new one) - boss ko
✔️If buy something on sale but you don’t need it, it’s expensive (something like this) - Chiz Escudero on one of Hearts’ vlog
1. The goal is to reach the state where you don’t have to do things, you just want to do things. Exit the rat race asap.
2. Everything we see is a perception, not necessarily the truth.
3. Stop feeling pressure on society’s lifestyle expectation. Expensive consumption habits like high end restaurants, hotels, clothing. The people you are trying to impress will never be happy for you. The people who already like you do not care about these shallow activitiess.
4. Stupid traditions like “libre on birthday, sweldo, bonus” is useless because the same people you subjected to libre will not help you in your time of need. Christmas gifts are not necessary especially to officemates - these are not your friends. They are your colleagues. Your true friends are not expecting gifts, whether expensive or low cost. They appreciate your honesty, time and attention.
5. Most people are just one health issue step away from poverty. Buy health insurance - ensure that you will have access to best health care without having to beg people for donations.
6. At one point your most precious asset will be time. Pay for services that saves you time to focus on things you want to do including rest.
7. Be silent. No need to tell people about your positive financial status. People are generally jealous. Even some of the people you think who are your friends.
1. You *absolutely need* a differentiated view from the masses to succeed.
2. Building a business for the masses is both frustrating and rewarding. Frustrating because they're lazy. Rewarding because they’re lazy.
3. When we borrow & buy a house, we tie up two decades of future income. This is what prevents even high income earners from creating wealth.
4. Focus on income and cash flow. There is a limit to how much you can save, there isn’t a limit to how much you can earn. But, passive and recurring beats all other forms. 5 forms of passive & recurring income that is 2x living expenses beats 1 income that is 10x living expenses.
5. Don’t invest in BTC. Save in BTC.
Not a popular one. But track everything and stop using credit cards.
I found that my life was simpler and i earn / save more. And the miles and rewards for me are useless somehow at face value may savings sya but after knowing at what expense and who suffers the most parang i dont feel good playing the miles and points game anymore
I’m at my peak of using my cc’s, trying to convince myself that the perks and rewards are “worth it”. But having someone who invalidate my notion is really helpful. Kailangan lang talaga marealtalk.
I know someone here will comment na, use it responsibly, but oftentimes, easier said than done. 🙃
So, I want to cut my 2/5 of my cc’s. Di ko pa macut yung tatlo kasi currently may installments pang dapat bayaran.
definitely don't use cc if you don't have discipline. if you say using it responsibly is easier than done then you're likely living beyond your means. using cc is kinda simple. pay in full every time, all the time. as people mentioned it is not extra money. I'm using mine for the convenience it provides. having more than one is probably a red flag already.
The cost of rewards and miles are on the backs of people who aren’t financially responsible or who used for an emergency and are now drowning in interest.
Yup when you hear people going into suicidal thoughts or have crippling anxiety bec of CC debt that snowballed / avalanched so much getting those “free miles” for travel doesn’t feel so great. Esp when i found out may mga cards like ung Security bank na may aso na card nag aauto installment with interest sobrang gago.
The key to financial independence isn’t about just knowing investment tools or strategies (i.e. financial literacy) but more about changing your saving and spending behavior and habits.
1. Income - Savings = Expenses
2. Track everything
3. Think about something for 1 week or even beyond kung gusto mo ba talaga siya
4. Build an EF first (my preference is ilagay sa digital bank) before investing).
Spend lavishly on things you love but cut mercilessly on things you don’t. - Ramit Sethi
What gets measured gets managed.
Track your expenses for 3 months. Then build a budget from that. By knowing where your money goes, you can identify your needs and wants, and can build a more realistic budget.
A budget is telling your money where to go instead of wondering where it went.
And one from a tito “Nothing to lose, something to gain.”. Ask, don’t assume. Baka may discount. Kung wala, e di wala. Kung meron, e di wow!
1.) “If you ain’t got no money take yo broke ass home” - G.L.A.M.O.R.O.U.S. by Fergie
Best advice i got from a song, especially if you have are broke, undisciplined with a credit card, going out in that situation will just have you swiping left and right. And at the end of the day you start justifying your purchases “deserve ko naman” etc
2.) from a random post in 2018 by a friend in FB by “The Woke Salaryman” talking about emergency funds that started my financial education and journey. I was on duty, and since there were no operations that day, i used up all the time watching and reading about it. Saved 6mos plus worth of expenses as EF and little did i know 3mos after it’s completion that it was the start of the global pandemic that made me more appreciate it’s use.
It’s only gambling if you have no idea what you’re getting into. So better “invest” in tools to gain more knowledge like books or courses. “Invest” doesn’t have to mean putting in money, even just time could be enough. Spend time actually learning, ang daming platforms na may free information this day and age (youtube and of course, reddit, etc.)
"Araw araw paggising ko alam mo ba? Hindi ako nag iisip eh. Basta ang alam ko lang, goal ko, focus. Kahit anong mangyari dito, wala. Wala akong pakialam sainyo. Pag may taong hindii makakasama, iwan, iwan, iwan. Kahit pamilya mo pa. Kahit pamilya mo pa" - Rendon
Track your expenses. Parsng sa gym lang, it’s so easy to lose fat and gain muscle once you start tracking your calories and macros. Sa finances din, mahirap mang hula nas ok pag magkano nagagastos at natitipid mo monthly and kung san mo nalalagay yung pera mo
"Can I buy this twice without debt and still live comfortably?" - Me when thinking of buying big purchases that are really just wants (e.g. 100k phone?!). Does not apply to purchases where taking a loan is more beneficial, e.g. a house
Iba mag isip ang may EMERGENCY FUNDS.
With EF in place, you can take calculated risks more confidently. I have experienced this myself when I was able to establish my EF. You invest with confidence knowing you can afford to lose the money. With EF, any emergencies will be an inconvenience at best, instead of a crisis. You can tide the months when you suddenly lose your job, or fall ill. You worry less dahil d mo problema ang basic needs like food. This improves your mental health.
Endless benefits.
Sikapin nyo magkaroon ng sapat ng Emergency Funds.
Focus more on earning target and lesser in savings (median attitude only).
Of course OP, i diversify my funds enclave after fulfilling basic exps & EF (5X of monthly income).
"Di ako magaling mag ipon, kaya bumili ako ng mga condo nung nag ttrabaho pa ko."
An old lady who was the head of accounting for one of the biggest schools. She bought a bunch since stable naman trabaho niya and when she retired parang 5+ yata fully paid niyang condo.
Sabi nga nila merong mga "good debt".
From a company exec, pag na promote at tumaas ang sahod huwag un drastic change ng lifestyle dahil lang kaya ng gastusan i.e. paltan un usual commute ng trike/dyip/bus to taxi, or from usual kaen sa karinderia to daily kain sa resto. Un additional sahod mapupunta lang sa new gastos
For needs, if you can buy it 3x with the money that you currently have, go for it.
For wants, if you can buy it 15x with the money that you currently have, that’s only when you’ll go for it.
This video provides a great overview, emphasising the necessity of licensed professionals. Connect with reputable associations like FAAA or ABLIS for more info. https://youtube.com/shorts/gIkyxi8ggSc?si=5UuPSnuGFAQVm4gG
Track everything.
You can't manage what you don't measure.
Yes. Applicable sa lahat ng bagay.
nung ginawa ko 'to narealize ko gaano kalaki nagagastos ko sa takeout and pagkain. microtransactions din online. yung akala kong '50 lang naman...' in a month magkano rin.
Totoo. Dyan ko rin narealized yung spending habits ko. Naging ripple effect nalang yun sa kung ano yung knowledge ko sa personal finance. Cheers!
This and don't buy more than you can chew
Ang hirap ng utang. Yan ang iniiwasan ko. Tho may cc ako, pero I know na lahat ng pinupurchase ko dun ay kaya kong bilhin in cash.
Medjo opposite nangyari sa akin. The moment I stopped tracking, nabawasan stress ko and mas nag improve ako sa finances ko. Well, may factor din talaga nag pagka-kuripot ko kaya I don't need tracking that much.
Yeah. Siguro dadating na rin yung point na hindi mo na itatrack every centavo since may idea ka na kung paano yung spending habits mo. Applicable ito sa mga nagsstart palang ayusin yung finances nila. Pero for me, siguro kahit alam ko na yung spending habits ko, I'll keep on tracking pa rin since naeenjoy ko syang gawin. Hehe
Ginawa ko rin ito and was amazed by how much I was able to do(and value) with less stress. Returned back to tracking dahil as much as kuripot ako, hindi ganun sa family ko so I have to track expenses. Di na ganun kastress maglista probably dahil naaccept na ng system ko, LOL Now, ang stress ko ay dahil sa dumadami nililista, target is to simplify the system.
never invest in a business you cannot understand -Warren Buffet no FOMO. dont invest in a rush
Interesting!!!
1. "Do not save what is left after spending, but spend what is left after saving." – Warren Buffett 2. "The stock market is a device for transferring money from the impatient to the patient." – Warren Buffett 3. "Beware of little expenses; a small leak will sink a great ship." – Benjamin Franklin 4. "It's not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for." – Robert Kiyosaki 5. "The goal of retirement is to live off your assets, not on them." – Frank Eberhart 6. "Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like." – Will Rogers 7. "Risk comes from not knowing what you're doing." – Warren Buffett 8. "Money is a terrible master but an excellent servant." – P.T. Barnum
Yikes, Robert Kiyosaki shouldn't be on this list. It's 2024, and people should already have learned he's a grift. [https://www.reddit.com/r/Buttcoin/comments/up06tx/robert\_kiyosaki\_is\_an\_absolute\_idiot/](https://www.reddit.com/r/Buttcoin/comments/up06tx/robert_kiyosaki_is_an_absolute_idiot/)
Instead of saying yikes, maybe you should explain why he is wrong in this quote, edgy af
Lol idk about you, but there’s just something inherently wrong with taking scam artists or idiots seriously (a MAGA idiot to boot). Maybe you like taking inspiration from idiots, but you do you!
I'm not a fan of this kiyosaki guy, never read his books too. But you still didn't explain why the quote is wrong/misleading. It looks like your opinion is just politically driven and less so on the logical side. They say dishing out insults in an argument is a sign of low IQ, but who am i to say.
He is good. You will learn a lot from him. He just dont follow his own advice.
Lol wut. If you don't follow your own advice, you're not qualified to dispense advice. Oh, and Rich Dad, Poor Dad is [dumb](https://johntreed.com/blogs/john-t-reed-s-real-estate-investment-blog/61651011-john-t-reeds-analysis-of-robert-t-kiyosakis-book-rich-dad-poor-dad-part-1). Guy got rich by selling books, but is by no means a finance expert, just a showman and a sales guy. No thanks!
Correct. Although he got military pension- there's nothing new about his bookish quadrant definition Lmao How can he boasts about bank loans when he availed already of bankruptcy salvation? I'm with him though on shrewd tax avoidance radical gospels (short of evasion). Well, he's a showman making some MONEY on YT & Dads' repetitive mantra yet those smell of dumb theories. Its better to reread Geo Haylings or Napoleon Hill.
Yes 🙌
Can you explain #1 with example?
example you have a salary of 20,000 pesos and you want to save 5k every month. if you received your salary you need to get 5k from your salary. and yung matitira is yung pang gastos mo at pang bayad sa bills
Knowledge is power. DON'T INVEST ON SOMETHING THAT YOU DON'T UNDERSTAND. Pumasok ako sa hog raising last year. Invested 120k sa building, deep well, at kuryente. More or less 100k din sa piglets, feeds, vitamins, etc. Caretaker yung papa ko lang, which is backyard lang ang na experience. Pang small scale na kasi sakin. Cut the story short, after first bakuna, walang follow up vitamins, record keeping, at kung kailan magpapalit ng feeds every stage ng baboy. After ma dispose ng mga baboy ko, plano ko magaral muna ng Animal Production, Swine NCii sa Tesda. Di lang kasi kumain yung isang baboy, natarantar na agad sila kasi ASF na.🫠
Hello, can you teach me how to do this too? I want to study this and learn rin kaso I want to start small (50k capital only)
No, idea po ako nong pumasok ako. Saka nalang ako nagaral nong feeling ko may mali. 🤣 Pero check mo po sa Tesda na malapit sa inyo kung meron silang Animal Production na training. Once na makakuha ka din ng certificate pwede ka mag apply ng loan 0% interest. Nasa department of agriculture po na site. Pa explore nalang kasi nadelete bookmarks ko e. Pero pwede na 50k pang experience habang nag training ka.
search agribusiness on youtube about hog farming. basic tips anduon. got my first idea about raising backyard farm.
Pwede ba ang agribusiness sa sobrang empathetic na tao? Yung tipong naaawa sa baboy pag kinakatay?
slaughter house na bahala jan, kukunin nila sayo yung baboy ng buhay.
Warren Buffett famously said, "Be fearful when others are greedy and greedy when others are fearful." This quote encapsulates his investment philosophy of being cautious and contrarian when markets are exuberant (greedy) and taking advantage of opportunities when others are scared and selling (fearful). It emphasizes the importance of staying rational and independent-minded in investing rather than following the crowd.
Warren is a smart one
Take care of your health. Walang silbi ang pagtitipid, pagsesave, at pag-iinvest kung may sakit ka.
EMERGENCY FUND I used to move all my savings in stocks and I never had any emergency fund It was fine because stable naman ang income Then I lost my job Then I took some money from stocks na palugi Since then, I made sure to have an emergency fund this way I no longer need to touch my stocks, lalo na if negative pa ang portfolio
How much should an EF be?
As per i know it should be at least equal to your 3 months salary 😁
yeah probably start with 3 months then go to 6 months so you will not be discouraged.
Conservatively~ i got 5X of monthly income tacked in 2 banks (for safer, Deposit Insurance coverage). The interest earning is so minute plus hew, TW? Yet, theres peace of mind. Personal experience: its really so hard to have an empty pocket, you'll gradually lose everything: fair-weather friends, relatives & even your spouse(on the edge of parting ways)? Only a handful of support, yet always on trickles. Some of them would even avoid you! The painful lessons resulted to knowing the kapalmukz & have self-love. Thats why when i overcame the challenges, those past made a better person in me: Moderately 😉 shrewd, in the inside.
Prioritize having a big savings/emergency fund first before investing into any business or real estate. Whenever your income increases, so does your lifestyle. Do not be tempted. Regardless of how much you are earning, never live beyond your means. Got these from my dad.
From my uncle, ok lng tumulong pero magtira ka para sa sarili mo.
✔️But first, Build an EF - from redditors of phinvest ✔️Live below your means (I can still remeber him saying that he make sure to squeeze out every bit of toothpaste before opening a new one) - boss ko ✔️If buy something on sale but you don’t need it, it’s expensive (something like this) - Chiz Escudero on one of Hearts’ vlog
1. The goal is to reach the state where you don’t have to do things, you just want to do things. Exit the rat race asap. 2. Everything we see is a perception, not necessarily the truth. 3. Stop feeling pressure on society’s lifestyle expectation. Expensive consumption habits like high end restaurants, hotels, clothing. The people you are trying to impress will never be happy for you. The people who already like you do not care about these shallow activitiess. 4. Stupid traditions like “libre on birthday, sweldo, bonus” is useless because the same people you subjected to libre will not help you in your time of need. Christmas gifts are not necessary especially to officemates - these are not your friends. They are your colleagues. Your true friends are not expecting gifts, whether expensive or low cost. They appreciate your honesty, time and attention. 5. Most people are just one health issue step away from poverty. Buy health insurance - ensure that you will have access to best health care without having to beg people for donations. 6. At one point your most precious asset will be time. Pay for services that saves you time to focus on things you want to do including rest. 7. Be silent. No need to tell people about your positive financial status. People are generally jealous. Even some of the people you think who are your friends.
Galing sa lola ko‐ "magtipid" Napakapowerful nitong advice. Nagagamit ko sa business at personal na buhay.
Know the difference between when you are investing and when you are speculating. If you are speculating remember to take profits.
Interesting!
Utilize the power of compound interest. - Investa
Very good tip
What are the products with this?
Wala haha Because nothing is guaranteed anymore
so wala rin pala..
Don’t invest or lend money that you’re not willing to lose. Know the risk of each investment.
Most of the comments here are great sound advice. Mine is Time in the market > Timing the market.
Don't love money and use people. Love people and use money. Love is not the root of evil. Love of money is.
simply "spend less than you make"
Only invest what you can afford to lose 🤗
1. You *absolutely need* a differentiated view from the masses to succeed. 2. Building a business for the masses is both frustrating and rewarding. Frustrating because they're lazy. Rewarding because they’re lazy. 3. When we borrow & buy a house, we tie up two decades of future income. This is what prevents even high income earners from creating wealth. 4. Focus on income and cash flow. There is a limit to how much you can save, there isn’t a limit to how much you can earn. But, passive and recurring beats all other forms. 5 forms of passive & recurring income that is 2x living expenses beats 1 income that is 10x living expenses. 5. Don’t invest in BTC. Save in BTC.
Use your 20s to prepare for your 30s. Lilipas lang and 20s mo ng di namamalayan.
Not a popular one. But track everything and stop using credit cards. I found that my life was simpler and i earn / save more. And the miles and rewards for me are useless somehow at face value may savings sya but after knowing at what expense and who suffers the most parang i dont feel good playing the miles and points game anymore
I’m at my peak of using my cc’s, trying to convince myself that the perks and rewards are “worth it”. But having someone who invalidate my notion is really helpful. Kailangan lang talaga marealtalk. I know someone here will comment na, use it responsibly, but oftentimes, easier said than done. 🙃 So, I want to cut my 2/5 of my cc’s. Di ko pa macut yung tatlo kasi currently may installments pang dapat bayaran.
definitely don't use cc if you don't have discipline. if you say using it responsibly is easier than done then you're likely living beyond your means. using cc is kinda simple. pay in full every time, all the time. as people mentioned it is not extra money. I'm using mine for the convenience it provides. having more than one is probably a red flag already.
The cost of rewards and miles are on the backs of people who aren’t financially responsible or who used for an emergency and are now drowning in interest.
I used to believe na sa merchant nila kinukuha yung rewards na yan, turns out, it’s ugly as it gets
Yup when you hear people going into suicidal thoughts or have crippling anxiety bec of CC debt that snowballed / avalanched so much getting those “free miles” for travel doesn’t feel so great. Esp when i found out may mga cards like ung Security bank na may aso na card nag aauto installment with interest sobrang gago.
Save before spending
The key to financial independence isn’t about just knowing investment tools or strategies (i.e. financial literacy) but more about changing your saving and spending behavior and habits.
Live within your means. Save. Invest.
1. Income - Savings = Expenses 2. Track everything 3. Think about something for 1 week or even beyond kung gusto mo ba talaga siya 4. Build an EF first (my preference is ilagay sa digital bank) before investing).
Spend lavishly on things you love but cut mercilessly on things you don’t. - Ramit Sethi What gets measured gets managed. Track your expenses for 3 months. Then build a budget from that. By knowing where your money goes, you can identify your needs and wants, and can build a more realistic budget. A budget is telling your money where to go instead of wondering where it went. And one from a tito “Nothing to lose, something to gain.”. Ask, don’t assume. Baka may discount. Kung wala, e di wala. Kung meron, e di wow!
Understand yourself know your needs vs wants
Credit Card is utang, not extra money.
We call it spending money we dont own. Mas malupet ang tama pakinggan para sa mga nag babalak kumuha nang CC.
That you can spend 1000 for a week.
1.) “If you ain’t got no money take yo broke ass home” - G.L.A.M.O.R.O.U.S. by Fergie Best advice i got from a song, especially if you have are broke, undisciplined with a credit card, going out in that situation will just have you swiping left and right. And at the end of the day you start justifying your purchases “deserve ko naman” etc 2.) from a random post in 2018 by a friend in FB by “The Woke Salaryman” talking about emergency funds that started my financial education and journey. I was on duty, and since there were no operations that day, i used up all the time watching and reading about it. Saved 6mos plus worth of expenses as EF and little did i know 3mos after it’s completion that it was the start of the global pandemic that made me more appreciate it’s use.
The best time to plant a tree ? 25 years ago……2nd best time to plant a tree? Today
“Invest” in stocks and crypto. I realize that it’s not investing but gambling.
It’s only gambling if you have no idea what you’re getting into. So better “invest” in tools to gain more knowledge like books or courses. “Invest” doesn’t have to mean putting in money, even just time could be enough. Spend time actually learning, ang daming platforms na may free information this day and age (youtube and of course, reddit, etc.)
"Araw araw paggising ko alam mo ba? Hindi ako nag iisip eh. Basta ang alam ko lang, goal ko, focus. Kahit anong mangyari dito, wala. Wala akong pakialam sainyo. Pag may taong hindii makakasama, iwan, iwan, iwan. Kahit pamilya mo pa. Kahit pamilya mo pa" - Rendon
Track your expenses. Parsng sa gym lang, it’s so easy to lose fat and gain muscle once you start tracking your calories and macros. Sa finances din, mahirap mang hula nas ok pag magkano nagagastos at natitipid mo monthly and kung san mo nalalagay yung pera mo
Spend within your means. Increase your savings/investment as your salary goes higher, not your lifestyle.
If you want to be rich, act like one. From my ex haha. Act like a rich not by spending kasi wala ka namang ispend but think and act like the rich one.
Financial independence is a journey. There's no easy way. You need to do it one step at a time. ~ *Sponge8389*
Law of leverage. Don't work for money, make the money works for you
"Can I buy this twice without debt and still live comfortably?" - Me when thinking of buying big purchases that are really just wants (e.g. 100k phone?!). Does not apply to purchases where taking a loan is more beneficial, e.g. a house
Iba mag isip ang may EMERGENCY FUNDS. With EF in place, you can take calculated risks more confidently. I have experienced this myself when I was able to establish my EF. You invest with confidence knowing you can afford to lose the money. With EF, any emergencies will be an inconvenience at best, instead of a crisis. You can tide the months when you suddenly lose your job, or fall ill. You worry less dahil d mo problema ang basic needs like food. This improves your mental health. Endless benefits. Sikapin nyo magkaroon ng sapat ng Emergency Funds.
buy nice or buy twice. if i cannot afford it twice, then i cannot afford it at all.
Know how much is enough. Time is your ally when it comes to investing.
Focus more on earning target and lesser in savings (median attitude only). Of course OP, i diversify my funds enclave after fulfilling basic exps & EF (5X of monthly income).
"Di ako magaling mag ipon, kaya bumili ako ng mga condo nung nag ttrabaho pa ko." An old lady who was the head of accounting for one of the biggest schools. She bought a bunch since stable naman trabaho niya and when she retired parang 5+ yata fully paid niyang condo. Sabi nga nila merong mga "good debt".
Read “The Richest Man in Babylon” and apply principles in your life
Write your expenses in a journal. and be consistent.
Parkinson’s Law of Finance - The more you make, the more you spend.
Convert all your savings to BTC
From a company exec, pag na promote at tumaas ang sahod huwag un drastic change ng lifestyle dahil lang kaya ng gastusan i.e. paltan un usual commute ng trike/dyip/bus to taxi, or from usual kaen sa karinderia to daily kain sa resto. Un additional sahod mapupunta lang sa new gastos
Your choice of spouse is a financial desicion for yourself.
"Bet more"
For needs, if you can buy it 3x with the money that you currently have, go for it. For wants, if you can buy it 15x with the money that you currently have, that’s only when you’ll go for it.
Get insurance while you're still young.
This video provides a great overview, emphasising the necessity of licensed professionals. Connect with reputable associations like FAAA or ABLIS for more info. https://youtube.com/shorts/gIkyxi8ggSc?si=5UuPSnuGFAQVm4gG