Friday, 11 January 2013

The Secret Formula to Financial Freedom

Both rich and poor people follow this simple formula.  Watch this video!


That's the first thing to do.  According to financial experts, we should change our old mentality of saving.  Before it is saving after expenses (Income-Expenses= SAVINGS).  It should be INCOME minus SAVINGS equals EXPENSES. In other words, you identify the amount to save every month and religiously put it aside, not in your ATM account but somewhere else which you could not easily withdraw anytime.  A good practice would be a regular investment for a monthly saving.
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Secondly, as I already mentioned, invest your savings.  As the video has presented, if you put your money in the closet, it will not grow.  For me, I invest my savings every month by buying stocks.  In other words, I invest my monthly savings in the Stock Market.

Therefore, the secret formula to financial freedom is SAVINGS and INVESTMENT.  Continue to follow on this blog in order to learn more about savings and investment.



P.S.
Do you want a mentor on how to reach your dreams?  I am fortunate that this man teaches me how be successful  in my personal, spiritual and financial life.  Click this link of my mentor Bo Sanchez.









Extra Work, Extra Income

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I talked to some Filipinos in Rome way back in my 2002 visit.  I was really amazed to learn that some of them worked for 3 different workplaces.  How can that be possible?  Well, according to Melisa, she works from 6-9 in the morning at one house cleaning and doing some laundry.  At 10 am-1 pm, she does the same job at another house.  From 2-4 pm, she acts as a tutor.  Wow! She likes her work because she can go home and relax after unlike those in house domestic helpers.

As college teachers, we earn extra income by taking overloads.  These are subjects we teach aside from our regular teaching loads.  

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Some of my colleagues are doing even better.  When they reach home, they have other things to do like cooking food for the canteen, accepting tutorial job and many others.  Others turn their hobbies into business.  One colleague makes home-made ice cream.  It was delicious. We order from her if we have party at home.

What about you?  Do you have hobbies that can turn into a little business?  Do you have talents that you can turn into a profitable work?  Sit down and reflect.  Write down what comes to mind.  Later on evaluate what you have written and take action.  Do it now! 

Saturday, 5 January 2013

3 Questions refuting Employee Mentality


Are you a happy employee?  Are you contented with what you are right now?  Whatever your answer, this article will shed light on the culture most of us are in.

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During the latest election campaign in America, I noticed that there are two words that I kept hearing from the candidates- American Dream.  Both Obama and Romney were one in saying that their government will pave the way for the Americans to live the American Dream.  What then is the American Dream?  It is synonymous to prosperity and success achieved through hard work. We can simply say that these candidates are telling the voters that we can lay the path towards the American Dream.  What is this path?  Get a job, work for promotion, earn big and that’s it- live the American Dream. This is not a surprise why many people are migrating to America. 

When I was young I was always told to do well in my study so that I can land a good job in the future.  That is the mentality.  This is what I call Employee Mentality.  What about in school?  How are we formed?  Our teachers will tell us to study hard so that our grades will be good.  Why? The company personnel we are applying will be impressed upon looking at our transcript.

Thus, learn to reflect upon yourself guided by the 3 leading questions in refuting Employee Mentality.

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1. What is your purpose of being employed?  In other words, ask if you have clear goals in life related to your dreams.  Ah, dreams!  What has something to do with my job in relation to my dream?  Plenty.  Big.   A lot of people equates their job with their dream. That is the reason why when we ask students about their dreams it is usually related to employability. For instance, I begin the semester with asking students about their dreams.  I usually do this to first year college students.  The common answer?  Finish my study, get a good job.  Nothing is wrong about this except that employability seems to be the dream of most people.  I have heard people saying they have landed their dream job.  Again, is there something wrong with that?  None, except that it closes the door for bigger dreams.  It might sound rude but many of us are in this situation.  I remember when I got my first job.  I told myself that if I will receive 20,000.00 later in my career, I will not go abroad.  My mentor Robert Kiyosaki has a bigger dream.  Did he apply and land a job?  Yes, but only to learn.  I’m not saying it’s not good to have a job.  Goodness!  I am employed at this time but I am not just an employee, nor be contented to remain one.   Therefore, your job right now is only one of the means of attaining your dreams.   

2. Are you contented with your present job?  The biggest obstacle to financial freedom is contentment mentality.  You might say I am not contented.  I want more.  Then, you ask, “Do I still have the contentment mentality?”  Yes, if you feel you are not contented but do nothing about it. As the saying goes, “You are your biggest obstacle.” Before going further, let me give you a comparison of a Pinoy and Tsinoy.  You may call Tsinoy as real Chinese or Filipino Chinese.  As shared by Chinkee Tan, a Filipino parent would usually advice his child to study hard in order to land a good job.  On the other hand, a Chinese parent would tell his child to study hard in order to do good business in the future.  See the big difference?  It might not be a surprise why 1% Chinese Filipinos in the Philippines controls 60% of Philippine economy. 

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Let me introduce to you, Kim.  He is a son of Filipino Chinese family.  When we were in college, he became classmates in some subjects.  He was not intellectually gifted but friendly.  Sometimes, he was the center of ridicules among classmates because he looks different and speaks different accent.  Though he really struggled in class especially in our English subject, he was able to survive and eventually graduated like most of us.  Now, where is Kim?  He manages their family business.  Where are my other classmates, including me?  Employees.

3. Do you save and invest part of your salary?  My colleague is working as a staff in one of the service offices in our school.  He is a differently-abled person but when he talks to me he is a proud man.  At one time he shared about how he was able to build his own house out of his salary.  Upon hearing this, my mind wondered how come this man has a house already compared to me even if I’m receiving a higher salary than him.  What’s more interesting was that he was also  able to buy two tricycles which added to his income.  This man invested part of his salary and had passive income now.  Thus, my colleague until now is not just an employee.  He uses his being an employee to move ahead of other employees.  What an inspiration!

 This blog came about to help people have extra income while still holding their full-time or part-time job.  At the same time, this will also open the floodgates of opportunities for people doing part-time job search or anybody still looking for a descent living.  When I began refuting my own employee mentality, I saw a lot of potentials without sacrificing my present work. I noticed that I spent hours on television at night watching non-sense shows. Slowly, I tried to make my spare time productively.  I started educating myself by reading books and articles.  Now, me and my wife are regularly saving and investing part of our salary every month.  It is an inspiration to see our accounts growing.  This is a complete opposite of my discipline before.  Friends, when you see your money growing, you will surely be inspired.  I am a happy employee because my job is a parcel of attaining my dreams.

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Get your pen.  Write and answer those three questions.

You may copy and paste your answers in the comments below.

May God bless your dreams,

Randy T. 

Sunday, 23 December 2012

A change for life: My mentor's Inspiration


The moment you ask about your life you are philosophizing.  This is what I remember on my philosophy class in college.  Well, I have not asked that question since my life after  college days has a very clear direction.  I entered the religious community and had a wonderful life.  Thirteen years after  I had to say goodbye to this community and found myself with the rest of humanity living a secular life.  At first, I was bewildered by the thought of receiving my salary and the freedom to spend it the way I wanted it. However, I noticed that among my peers we seemed to have common disposition.  This is about waiting for our salary.  Starting on the 10th or 25th of the month, we began to wait anxiously for our 15th or 30th salary.  I thought this was normal to most of us.  To my surprise, this disposition continued when I was already in the administrative position and definitely having a higher salary.  There must be something wrong.  Not only that.  Most of us have no savings. 
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Then I began asking about life.  Am I in the right place?  Am  I   going for a career change?  How come others are earning higher than us?  I even had my PhD degree and yet this does not translate into making me financially free.  After working for almost 10  years still I don’t own a house.  Something is really wrong or I am just in the wrong place. Then,  I started reading different articles and books and I met this person whom I considered my mentor. 

My mentor was a poor missionary.   He worked with the poor and lived like a poor following the footsteps of St. Francis of Assisi, the saint who radically lived a poor life. However, this mentor was a changed man after his marriage.  I began reading his books and articles.  What attracted me most is his being a missionary and yet he is now a millionaire.  I learned that it is possible to be a missionary, which I consider myself as such, and to enjoy financial blessings.  This is a complete turnaround from the religious life I lived before having committed myself to the vows of chastity, obedience and poverty.  My mentor showed me the road to financial freedom. 

The first and biggest lesson I learned from my mentor, Bo Sanchez?  MINDSET.  It is about having an excellent mindset without losing my faith in God. It is about being serious of identifying and acting out keys to success . It is not about career change but being excellent in your chosen career. This is the road for a change for life. 
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What about you?  What is your mindset?  Get a ballpen.  
Write and answer these questions below:

1.  What is it that bothers you the most nowadays?
2. How happy are you of your chosen career?
3. What do you really want in life?
4. What are the steps you have undertaken to achieve your dreams?