Be Free Pinoy - for your FREEDOM

Develop a Personal Budget Save 20% of your Net Income Think, Talk & Plan in terms of your Net Income Round up your Checkbook e.g.if you spend P 950.00, record it as P 1,000.00 – overtime, this creates a nice cushion. Have only one Credit Card (Don’t use it carelessly). Decide to invest at least 20% of your Income. Give 10% of your Income to your Place of Worship. Avoid paying Interest, instead get paid (e.g. dividends, royalty, etc…) Read & Absorb books on Money Management and Investing Become knowledgeable about Investing: master Risk management & Risk / Reward balancing. Choose a competent accountant to work closely with you. Review your RESULTS monthly.

  WITHOUT LIFE  INSURANCE Do not go without life insurance if you have anyone depending on you.  If you are working and have a family that depends on your income, you need to have ten times your annual salary in term life insurance.  You can stop buying the insurance when you have built up enough cash to replace your salary (again, 10 times your salary).  It would be normal to buy 20-year level term when the children are born since that will last until they are into college and hopefully you will have become wealthy enough to be self insured by that time. (If you are investing regularly, you will be).  If you do not have a standard job but take care of the children, you should still have insurance to cover a nanny or other arrangements.  If you also take care of the house, money for more meals out, maid service, and other help will be needed. WITHOUT DISABILITY INSURANCE Do not go without disability insurance.  You are much more likely to be di...

del.icio.us Tags: Wealth Concepts , Money attitude , financial idea , financial concepts African hunters have a clever way of trapping monkeys. They slice a coconut in two, hollow it out, and in one half of the shell cut a hole just big enough for a monkey's hand to pass through. Then they place an orange in the other coconut half before fastening together the two halves of the coconut shell. Finally, they secure the coconut to a tree with a rope, retreat into the jungle, and wait. Sooner or later, an unsuspecting monkey swings by, smells the delicious orange, and discovers its location inside the coconut. The monkey then slips his hand through the small hole, grasps the orange, and tries to pull it through the hole. Of course, the orange won't come out; it's too big for the hole. To no avail the persistent monkey continues to pull and pull, never realizing the danger he is in. While the monkey struggles with the orange, the hunters simply stroll in and capture the m...