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Principles of Getting Rich by John Calub

PRINCIPLE #1.

Never limit your potential. YOU AND I HAVE INFINITE POTENTIAL.


What are the Limiting Beliefs? Example:

1. Money is the root of all evil.
2. You cannot be rich if you stay in the Philippines.
3. Knowledge is power.

The Limiting Beliefs should instead be reprogrammed to Empowering Beliefs:

1. The greed of money is the root of all evil. It is a sin to be poor.
2. I can be rich wherever I am.
3. Wisdom is power. Wisdom is knowledge in action.

PRINCIPLE #2

"MAKE A DECISION TO BE WEALTHY STARTING TODAY."

PRINCIPLE #3

Understand that "YOUR INNER WORLD CREATES YOUR OUTER WORLD"

meaning, if you want to be wealthy the first step is "feeling wealthy inside."

"Have fun, feel good, it's all been done!"

PRINICIPLE #4

BE FAMILIAR WITH THE FOUNDATIONAL LAWS OF THE UNIVERSE ON WEALTH
Understanding the laws of the universe and applying it in one's life.

1. The law of attraction
2. The law of tithing
3. The law of giving
4. The law of cause and effect
5. The law of forgiveness
6. The law of gestation
7. The law of polarity
8. The law of abundance
9. The law of rhythm
10. Law of circulation

To read more about these laws click here.

PRINCIPLE # 5

"PAY YOURSELF FIRST BEFORE PAYING ANYONE ELSE."

Remind yourself with these empowering beliefs:

1. I always have money that I will never need.
2. My money works hard for me and makes me more and more money.
3. Whenever I spend money, more money comes to me. (guided by the laws of the universe on wealth)
4. I always make decisions that are for the highest good of all concerned including my self.

Thanks to this article.

Seven Important Laws of Success by Deepak Chopra M.D.

from: http://www.shareguide.com/Chopra.html

There are many aspects to success; material wealth is only one component. Moreover, success is a journey, not a destination. Material abundance, in all its expressions, happens to be one of those things that makes the journey more enjoyable. But success also includes good health, energy and enthusiasm for life, fulfilling relationships, creative freedom, emotional and psychological stability, a sense of well-being and peace of mind. Even with the experience of all these things, we will remain unfulfilled unless we nurture the seeds of divinity inside us. In reality, we are divinity in disguise, and the gods and goddesses in embryo that are contained within us seek to be fully materialized. Although I call the laws I'm about to discuss The Seven Spiritual Laws of Success, they could easily be called The Seven Spiritual Laws of Life. This is because they are the same principles that nature uses to create everything in material existence--everything we can see, hear, smell, taste or touch.

Success in life could be defined as the continued expansion of happiness and the progressive realization of worthy goals. Success is the ability to fulfill your desires with effortless ease. And yet success, including the creation of wealth, has always been considered a process that requires hard work, and it is often considered to be at the expense of others. We need a more spiritual approach to success and to affluence, which is the abundant flow of all good things to you. With the knowledge and practice of spiritual law, we put ourselves in harmony with nature and create with carefreeness, joy and love. True success is the experience of the miraculous. It is the unfolding of the divinity within us. It is the perception of divinity wherever we go, in whatever we perceive--in the eyes of a child, in the beauty of a flower, in the flight of a bird. When we begin to experience our life as the miraculous expression of divinity--not occasionally, but all the time--then we will know the true meaning of success.

Visit  Deepak Chopra's website here. 

Now let's go over The Seven Spiritual Laws of Success and see how we can apply them in our lives.

1) The Law of Pure Potentiality

This law is based on the fact that we are, in our essential state, pure consciousness. Pure consciousness is pure potentiality; it is the field of all possibilities and infinite creativity. When you discover your essential nature and know who you really are, in that knowing itself is the ability to fulfill any dream you have, because you are the eternal possibility, the immeasurable potential of all that was, is and will be. This law could also be called the Law of Unity, because underlying the infinite diversity of life is the unity of one all-pervasive spirit. There is no separation between you and this field of energy. One way to access the field is through the daily practice of silence, meditation and non-judgment. Spending time in nature will also give you access to the qualities inherent in the field: infinite creativity, freedom and bliss.

2) The Law of Giving

This law could also be called the Law of Giving and Receiving, because the universe operates through dynamic exchange. The flow of life is nothing other than the harmonious interaction of all the elements and forces that structure the field of existence. Because your body and your mind and the universe are in constant and dynamic change, stopping the circulation of energy is like stopping the flow of blood. Whenever blood stops flowing, it begins to clot, to stagnate. That is why you must give and receive in order to keep wealth and affluence--or anything you want--circulating in your life. If our only intention is to hold on to our money and hoard it--since it's life energy, we will stop its circulation back into our lives as well. In order to keep that energy coming to us, we have to keep the energy circulating. Thus, the more you give, the more you will receive. The best way to put The Law of Giving into operation is to make a decision that any time you come into contact with anyone, you will give them something. It doesn't have to be in the form of material things; it could be a flower, a compliment or a prayer. In fact, the most powerful forms of giving are non-material. The gifts of caring, attention, affection, appreciation and love are some of the most precious gifts you can give, and they don't cost you anything.

3) The Law of Karma (or Cause and Effect) 

"Karma" is both action and the consequence of that action; it is cause and effect simultaneously, because every action generates a force of energy that returns to us in kind. There is nothing unfamiliar about the Law of Karma. Everyone had heard the expression, "What you sow is what you reap." Obviously, if we want to create happiness in our lives, we must learn to sow the seeds of happiness. Therefore, karma implies the action of conscious choice-making. Whether you like it or not, everything that is happening at this moment is a result of the choices you've made in the past. Unfortunately, a lot of us make choices unconsciously, and therefore we don't think they are choices--and yet, they are. If you step back for a moment and witness the choices you are making as you make those choices, then in just this act of witnessing, you take the whole process from the unconscious realm into the conscious realm. This procedure of conscious choice-making and witnessing is very empowering.You can use the Law of Karma to create money and affluence, and the flow of all good things to you, any time you want. But first, you must become consciously aware that your future is generated by the choices you are making in every moment of your life. If you do this on a regular basis, then you are making full use of this law. The more you bring your choices into the level of your conscious awareness, the more you will make those choices which are spontaneously correct--both for you and those around you.

4) The Law of Least Effort

This law is based on the fact that nature's intelligence functions with effortless ease and abandoned carefreeness. This is the principle of least action, of no resistance. This is, therefore, the principle of harmony and love. When we learn this lesson from nature, we easily fulfill our desires. In Vedic Science, the age-old philosophy of India, this principle is known as the principle of economy of effort, or "do less and accomplish more." Ultimately, you come to the state where you do nothing and accomplish everything. This means that there is just a faint idea, and then the manifestation of the idea comes about effortlessly. What is commonly called a "miracle" is actually an expression of the Law of Least Effort. Least effort is expended when your actions are motivated by love, because nature is held together by the energy of love. When you seek power and control over other people, you waste energy. When you seek money or power for the sake of the ego, you spend energy chasing the illusion of happiness instead of enjoying happiness in the moment. When your actions are motivated by love, your energy multiplies and accumulates--and the surplus energy you gather and enjoy can be channeled to create anything that you want, including unlimited wealth. There are three components to the Law of Least Effort--three things you can do to put this principle of "do less and accomplish more" into action. The first component is acceptance. Acceptance simply means that you make a commitment: "Today I will accept people, situations, circumstances and events as they occur." This means I will know that this moment is as it should be, because the whole universe is as it should be. The second component is responsibility. This means not blaming anyone or anything for your situation, including yourself. This allows you the ability to have a creative response to the situation as it is now. All problems contain the seeds of opportunity, and this awareness allows you to take the moment and transform it to a better situation or thing. The third component to the Law of Least Effort is defenselessness. This means that you have relinquished the need to convince or persuade others of your point of view. If you relinquish this need you will in that relinquishment gain access to enormous amounts of energy that have been previously wasted.

5) The Law of Intention and Desire

This law is based on the fact that energy and information exist everywhere in nature. A flower, a rainbow, a tree, a human body, when broken down to their essential components are energy and information. The whole universe, in its essential nature, is the movement of energy and information. The only difference between you and a tree is the informational and energy content of your respective bodies. You can consciously change the energy and informational content of your own quantum mechanical body, and therefore influence the energy and informational content of your extended body--your environment, your world--and cause things to manifest in it. The quality of intention on the object of attention will orchestrate an infinity of space-time events to bring about the outcome intended, provided one follows the other spiritual laws of success. Intention lays the groundwork for the effortless, spontaneous, frictionless flow of pure potentiality. The only caution is that you use your intent for the benefit of mankind.

6) The Law of Detachment

This law says that in order to acquire anything in the physical universe, you have to relinquish your attachment to it. This doesn't mean you give up the intention to create your desire. You give up your attachment to the result. This is a very powerful thing to do. The moment you relinquish your attachment to the result, combining one-pointed intention with detachment at the same time, you will have that which you desire. Anything you want can be acquired through detachment, because detachment is based on the unquestioning belief in the power of your true Self. Attachment comes from poverty consciousness, because attachment is always to symbols. Detachment is synonymous with wealth consciousness, because with detachment there is freedom to create. True wealth consciousness is the ability to have anything you want, anytime you want, and with least effort. To be grounded in this experience you have to be grounded in the wisdom of uncertainty. In this uncertainty you will find the freedom to create anything you want.

7) The Law of "Dharma" or Purpose in Life

The seventh spiritual law of success is the Law of Dharma. (Dharma is a Sanskrit word that means "purpose in life.") This law says that we have taken manifestation in physical form to fulfill a purpose. You have a unique talent and a unique way of expressing it. There is something that you can do better than anyone else in the whole world--and for every unique talent and unique expression of that talent, there are also unique needs. When these needs are matched with the creative expression of your talent, that is the spark that creates affluence. Expressing your talents to fulfill needs creates unlimited wealth and abundance. There are three components to the Law of Dharma. The first says that each of us is here to discover our true Self. The second component is to express our unique talents; the expression of that talent takes you into timeless awareness. The third component is service to humanity. When you combine the ability to express your unique talent with service to humanity, then you make full use of the Law of Dharma. The Seven Spiritual Laws of Success are powerful principles that will enable you to attain self-mastery. If you put your attention on these laws and practice the steps outlined above, you will see that you can manifest anything you want--all the affluence, money and success you desire. You will also see that your life becomes more joyful and abundant in every way, for these laws are also the spiritual laws of life that make living worthwhile.

Inspiring Stories by Steve Jobs

Transcript of Commencement Speech at Standford 

Given by Steve Jobs

I am honored to be with you today at your commencement from one of the finest universities in the world. I never graduated from college. Truth be told, this is the closest I've ever gotten to a college graduation. Today I want to tell you three stories from my life. That's it. No big deal. Just three stories.

The first story is about connecting the dots.

I dropped out of Reed College after the first 6 months, but then stayed around as a drop-in for another 18 months or so before I really quit. So why did I drop out?

It started before I was born. My biological mother was a young, unwed college graduate student, and she decided to put me up for adoption. She felt very strongly that I should be adopted by college graduates, so everything was all set for me to be adopted at birth by a lawyer and his wife. Except that when I popped out they decided at the last minute that they really wanted a girl.

So my parents, who were on a waiting list, got a call in the middle of the night asking: "We have an unexpected baby boy; do you want him?" They said: "Of course." My biological mother later found out that my mother had never graduated from college and that my father had never graduated from high school. She refused to sign the final adoption papers. She only relented a few months later when my parents promised that I would someday go to college.

And 17 years later I did go to college. But I naively chose a college that was almost as expensive as Stanford, and all of my working-class parents' savings were being spent on my college tuition. After six months, I couldn't see the value in it. I had no idea what I wanted to do with my life and no idea how college was going to help me figure it out. And here I was spending all of the money my parents had saved their entire life. So I decided to drop out and trust that it would all work out OK. It was pretty scary at the time, but looking back it was one of the best decisions I ever made. The minute I dropped out I could stop taking the required classes that didn't interest me, and begin dropping in on the ones that looked interesting.

It wasn't all romantic. I didn't have a dorm room, so I slept on the floor in friends' rooms, I returned coke bottles for the 5¢ deposits to buy food with, and I would walk the 7 miles across town every Sunday night to get one good meal a week at the Hare Krishna temple. I loved it. And much of what I stumbled into by following my curiosity and intuition turned out to be priceless later on. Let me give you one example:

Reed College at that time offered perhaps the best calligraphy instruction in the country. Throughout the campus every poster, every label on every drawer, was beautifully hand calligraphed. Because I had dropped out and didn't have to take the normal classes, I decided to take a calligraphy class to learn how to do this. I learned about serif and san serif typefaces, about varying the amount of space between different letter combinations, about what makes great typography great. It was beautiful, historical, artistically subtle in a way that science can't capture, and I found it fascinating.

None of this had even a hope of any practical application in my life. But ten years later, when we were designing the first Macintosh computer, it all came back to me. And we designed it all into the Mac. It was the first computer with beautiful typography. If I had never dropped in on that single course in college, the Mac would have never had multiple typefaces or proportionally spaced fonts. And since Windows just copied the Mac, it's likely that no personal computer would have them. If I had never dropped out, I would have never dropped in on this calligraphy class, and personal computers might not have the wonderful typography that they do. Of course it was impossible to connect the dots looking forward when I was in college. But it was very, very clear looking backwards ten years later.

Again, you can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

My second story is about love and loss.

I was lucky — I found what I loved to do early in life. Woz and I started Apple in my parents garage when I was 20. We worked hard, and in 10 years Apple had grown from just the two of us in a garage into a $2 billion company with over 4000 employees. We had just released our finest creation — the Macintosh — a year earlier, and I had just turned 30. And then I got fired. How can you get fired from a company you started? Well, as Apple grew we hired someone who I thought was very talented to run the company with me, and for the first year or so things went well. But then our visions of the future began to diverge and eventually we had a falling out. When we did, our Board of Directors sided with him. So at 30 I was out. And very publicly out. What had been the focus of my entire adult life was gone, and it was devastating.

I really didn't know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down - that I had dropped the baton as it was being passed to me. I met with David Packardand Bob Noyce and tried to apologize for screwing up so badly. I was a very public failure, and I even thought about running away from the valley. But something slowly began to dawn on me — I still loved what I did. The turn of events at Apple had not changed that one bit. I had been rejected, but I was still in love. And so I decided to start over.

I didn't see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.

During the next five years, I started a company named NeXT, another company named Pixar, and fell in love with an amazing woman who would become my wife. Pixar went on to create the worlds first computer animated feature film, Toy Story, and is now the most successful animation studio in the world. In a remarkable turn of events, Apple bought NeXT, I returned to Apple, and the technology we developed at NeXT is at the heart of Apple's current renaissance. And Laurene and I have a wonderful family together.

I'm pretty sure none of this would have happened if I hadn't been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don't lose faith. I'm convinced that the only thing that kept me going was that I loved what I did. You've got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle. As with all matters of the heart, you'll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don't settle.

My third story is about death.

When I was 17, I read a quote that went something like: "If you live each day as if it was your last, someday you'll most certainly be right." It made an impression on me, and since then, for the past 33 years, I have looked in the mirror every morning and asked myself: "If today were the last day of my life, would I want to do what I am about to do today?" And whenever the answer has been "No" for too many days in a row, I know I need to change something.

Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure - these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.

About a year ago I was diagnosed with cancer. I had a scan at 7:30 in the morning, and it clearly showed a tumor on my pancreas. I didn't even know what a pancreas was. The doctors told me this was almost certainly a type of cancer that is incurable, and that I should expect to live no longer than three to six months. My doctor advised me to go home and get my affairs in order, which is doctor's code for prepare to die. It means to try to tell your kids everything you thought you'd have the next 10 years to tell them in just a few months. It means to make sure everything is buttoned up so that it will be as easy as possible for your family. It means to say your goodbyes.

I lived with that diagnosis all day. Later that evening I had a biopsy, where they stuck an endoscope down my throat, through my stomach and into my intestines, put a needle into my pancreas and got a few cells from the tumor. I was sedated, but my wife, who was there, told me that when they viewed the cells under a microscope the doctors started crying because it turned out to be a very rare form of pancreatic cancer that is curable with surgery. I had the surgery and

I'm fine now.

This was the closest I've been to facing death, and I hope it's the closest I get for a few more decades. Having lived through it, I can now say this to you with a bit more certainty than when death was a useful but purely intellectual concept:

No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet death is the destination we all share. No one has ever escaped it. And that is as it should be, because Death is very likely the single best invention of Life. It is Life's change agent. It clears out the old to make way for the new. Right now the new is you, but someday not too long from now, you will gradually become the old and be cleared away. Sorry to be so dramatic, but it is quite true.

Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma — which is living with the results of other people's thinking. Don't let the noise of others' opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.

When I was young, there was an amazing publication called The Whole Earth Catalog, which was one of the bibles of my generation. It was created by a fellow named Stewart Brand not far from here in Menlo Park, and he brought it to life with his poetic touch. This was in the late 1960's, before personal computers and desktop publishing, so it was all made with typewriters, scissors, and polaroid cameras. It was sort of like Google in paperback form, 35 years before Google came along: it was idealistic, and overflowing with neat tools and great notions.

Stewart and his team put out several issues of The Whole Earth Catalog, and then when it had run its course, they put out a final issue. It was the mid-1970's, and I was your age. On the back cover of their final issue was a photograph of an early morning country road, the kind you might find yourself hitchhiking on if you were so adventurous. Beneath it were the words: "Stay Hungry. Stay Foolish." It was their farewell message as they signed off. Stay Hungry. Stay Foolish. And I have always wished that for myself. And now, as you graduate to begin anew, I wish that for you.

Four Things You Need to Achieve Your Goals

Everyone has their own achievements - in their relationship, career, education and of course, within their own self. These achievements are something to be proud of, used to inspire others and to their share wisdom. Whether it is a simple thing that is achieved or a great one, it is one thing that is valuable to a person.

Why do people want to have an Achievement?

One reason I can think of is having the goal to be better. Better person, better relation, better career, in short Achievements are a proof of improvement, growth, change or maturity.

In order to success and achieve your goals, you need this four things

Dreams

-  Dreams are for free so you dream big and do not limit yourself

- Think of what makes you happy and list it down

- Your dreams are who you want to be, what you want to do, where you want to go and what do you want to have

Goals 

Make your goals S.M.A.R.T. (Specific, Measurable, Attainable, Realistic, Time bound) and in-line with your dreams

Timeline 

It is your plan, lay-out or outline towards your goals and dreams.

Make it simple an detailed. Start with simple tasks you will do daily, weekly and monthly.

Track Record 

Use this to monitor your process, steps taken, results and challenges.

It is great to look back and see what happened for the day or the week and how it went towards your success. If the result is good, your a step closer to your goals. If you encounter difficulties and challenges, make this things an inspiration on how to be better.

Robert Kiyosaki on How to Achieve Your Goals

The past is unchangeable and the future is uncertain,
We live "Now", it is the Present and a Gift
What is needed today is your Decision towards the achievement of your goals.

Thank you for spending time to read this article.
Hope you learn a thing or two.

Credits to this article for giving me an idea on what to write about.

Inspiring Story: The Farmer and the Donkey

One day a farmer's donkey fell down into a well. The animal cried piteously for hours as the farmer tried to figure out what to do. Finally, he decided the animal was old, and the well needed to be covered up anyway; it just wasn't worth it to retrieve the donkey.

He invited all his neighbors to come over and help him. They all grabbed a shovel and began to shovel dirt into the well. At first, the donkey realized what was happening and cried horribly. Then, to everyone's amazement he quieted down.

A few shovel loads later, the farmer finally looked down the well. He was astonished at what he saw. With each shovel of dirt that hit his back, the donkey was doing something amazing. He would shake it off and take a step up.

As the farmer's neighbors continued to shovel dirt on top of the animal, he would shake it off and take a step up. Pretty soon, everyone was amazed as the donkey stepped up over the edge of the well and happily trotted off!

MORAL : Life is going to shovel dirt on you, all kinds of dirt. The trick to getting out of the well is to shake it off and take a step up. Each of our troubles is a steppingstone. We can get out of the deepest wells just by not stopping, never giving up! Shake it off and take a step up.

Remember the five simple rules to be happy:

1. Free your heart from hatred - Forgive.

2. Free your mind from worries - Most never happens.

3. Live simply and appreciate what you have.

4. Give more.

5. Expect less from people but more from God.

How To Achieve Your Goals

What you really need is...

FOCUS

Follow
One
Course
Until
Successful

Robert Kiyosaki speaks on how to reach your dreams and goals.

Got A Millionaire Mind?

Here is a song which can help you have a Millionaire Mindset...

Seven Secrets of Success

Seven Secrets of Success

Answers that can be found in your room

Roof said: "Aim High"

Fan said: "Be Cool"

Clock said: "Every minute is precious"

Mirror said:
Reflect before you act"

Window said: "See the world"

Calendar said: "Be up-to-date"

Door said: "Push hard to achieve your goals"

Project J.18

"One Small Change Can Make One Big Difference"

How to Make a Financial Plan

Ten Tips to Financial Planning

1. Find out where you are today
2. Get all your financial paper works in order
3. Workout what you want from life and what your finances need to look like to support this
4. List your financial objectives in order of priority
5. Make your financial objectives SMART
6. Decide what steps you need to take in order to make your financial dreams a reality
7. Get an advice
8. Create a documented financial plan
9. Have Short term, Medium Term and Long Term Goals
10. Review your plans regularly and make changes as required

Here is a video for further explanations:

Project J.18

"One Small Change Can Make One Big Difference"

An Overview on Financial Intelligence

Taken from my previous blog.

Financial Intelligence. 

Is it the same as Financial Literacy and Financial Management? 
How can people relate with this stuff? 

Where does one learn Financial Education? 

Let me give you an overview...

What is Financial Literacy?

Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances.

In Asia Pacific and Middle East Africa

A survey of women consumers across Asia Pacific Middle East Africa (APMEA) comprises basic money management, financial planning and investment. The top ten of APMEA Women MasterCard's Financial Literacy Index are: Thai 73.9, New Zealand 71.3, Australia 70.2, Vietnam 70.1, Singapore 69.4, Taiwan 68.7, Philippines 68.2, Hong Kong 68.0, Indonesia 66.5 and Malaysia 66.0.

from: http://en.wikipedia.org/wiki/Financial_literacy 

Robert Kiyosaki's New Financial Advice

Meaning of Financial Management

     Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise.

Scope/Elements

1. Investment decisions includes investment in fixed assets
2. Financial decisions 
3. Dividend decisions

Objectives of Financial Management

The financial management is generally concerned with procurement, allocation and control of financial resources of a concern.

The objectives can be:

• To ensure regular and adequate supply of funds to the concern.
• To ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders.
• To ensure optimum funds utilization. 
• To ensure safety on investment.
• To plan a sound capital structure.

Functions of Financial Management

1. Estimation of capital requirements
2. Determination of capital composition
3. Choice of sources of funds
4. Investment of funds
5. Disposal of surplus
6. Management of cash
7. Financial controls

Read more at http://www.managementstudyguide.com/financial-management.htm

See also : http://tutor2u.net/business/accounts/finance_management_intro.htm

Conventional Education Vs. Financial Literacy

Here is a preview of an article about the trends in finance management of Filipinos.

Filipinos Taught Better Financial Management

By Ramona Ruiz

taken from  http://www.thenational.ae/news/uae-news/filipinos-taught-better-financial-management 

ABU DHABI // Filipino migrant leaders are teaching their compatriots how to manage their hard-earned money, invest their savings and prepare them to reintegrate into their communities back home....

The move follows a financial literacy "training of trainers" organised in Dubai by the Ministry of Labor, not only for Filipino migrants but for those from Bangladesh, India, Pakistan and Sri Lanka.

A series of workshops were held in January by representatives from Atikha, a non-governmental organisation that provides economic and social services to overseas Filipino workers (OFWs) and their families in the Philippines. Atikha also developed a training module that was applicable to other migrants.

The financial literacy seminars discussed basic concepts of saving, investing and borrowing and the various investment instruments that Filipinos could utilise.

"It is our nature to make sacrifices for the family," Mr Junio said. "We need to know how and when to say 'no' to some of their demands."

Just click the link to read the whole article.

For a review about the banks in the Philippines such as Bangko Sentral Ng Pilipinas, Banco De Oro, CitiBank Philippines, Bank Of The Philippine Islands, Union bank, Philippine National Bank, Metrobank, Security Bank, Land Bank Of The Philippines, HSBC Philippines and China Bank Philippines click here.

So where do we learn this Financial Stuff...

For me, I learned from a book. Then through videos and eventually through seminars. There are people that have knowledge and wisdom to share about Financial Literacy, Financial Management, basically finding Financial Education.

Robert Kiyosaki has been one of my Best Mentors. Who is he? Wikipedia says Robert Toru Kiyosaki is an American investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator. Kiyosaki is perhaps best known for his Rich Dad Poor Dad series of motivational books and other material published under the Rich Dad brand. He has written over 15 books which have combined sales of over 26 million copies. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" CDs and disks.

As a devout global financial literacy advocate, Kiyosaki has been a staunch proponent of entrepreneurship, business education, investing, and that comprehensive financial literacy concepts should be taught in schools around the world.

Here is a video or Robert Kiyosaki talking about Financial IQ

Here is my Conclusion:

• Financial Intelligence means being Financially Educated and having a Financial Management System that works for you.
• It is Important that each person has a High Average Financial IQ for money has a very important role in our life today.
• To be Financial Educated, it starts from within. Your DECISION. Decide to be financially educated, raise your financial IQ and have a financial management system. Resources are available at hand. It can be your friends, family, books, newspaper and Internet.

Project J.18

"One Small Change Can Make One Big Difference"

To Save or To Spend

If you have 200,000 Php today,
what will you do with the money?

Photo from FHM PH

First let us define spending and saving...

Spending is using the money you earned to buy goods and services that can be consumed immediately.

While saving is setting aside hard-earned money to be used in a certain time. 

There two classifications of Savings: Short- Term and Long-Term. A short-term saving can be the amount of money one person needs in order to sustain his needs for at least a year. Long-term savings are usually a large amount money that is set aside for future investments or larger expenses. 

Now let's take a look in the picture on the side.

It is an usual spending and saving habits based on a certain amount of money by people in the ages of 20's, 30's and 40's. 

In a 200 Pesos, a guy in 20's can spend it for cellphone case or save it in his contribution to the government. A person in his 30's might spend the money for a shirt or save 200 pesos in his savings bank account. A 40's guy most likely will purchase a cologne or use it for his travel insurance.

Given a Million Peso, one have the option to spend it for his dream car, dream house, wedding and honeymoon or to save it for a business, financial protection and other investments you can think of.

In reality, spending money makes you enjoy its benefits right now and then. You trade your money into something valuable to you and can make you happy at that moment. On the other hand, saving money can make your money grow through interest at a given time. It is money earning money. You just have to look for a successful savings plan that suits you and your dreams.

Income leads to Expenses and Savings.

Expenses leads to having Just enough.

Savings leads to Investments. 

Investments leads to more Income.

Now,either you spend your money or you save it, the decision is up to you.

"One Small Change Can Make One Big Difference"

Project J.18