Financial Freedom

What is Financial Freedom?

The key to financial freedom is understanding what it is for you. Clarity about what financial freedom for you is the first thing you need to know to achieved it. Let me share with you what I've learned in Millionaire Mind Intensive as the definition of financial freedom. According to T. Harv Eker, Financial Freedom is the ability to live the lifestyle you desire without have to work or depend on anyone else for money.

With this clarity we can now identify what we need to do to be financially free. Income without work is called Passive Income. Yes there is such thing as income without work. We can now say that to be financially free you need a passive income that is greater than your expenses. 

Earning Passive Income

1. Investment Passive Income

Interest income on your money investment. This is money working for you or money creating more money. Popular investment passive income are special bank deposits, mutual funds, unit investment trust fund, stock market investing & trading.

2. Business Passive Income

Business income that does not require too much of your time. This is money & people working for you. Here it is not money working for you but your creativity makes money for you. Popular sample of business passive income is Vending machines operator, Real Estate with positive cash flow, franchising if you are the franchisor because you earn royalty income, same for authors, internet marketing if it is on auto pilot, Network Marketing if you have a system that creates you passive income.

Managing your Money (LIFESTYLE)

Once you have created multiple streams of passive income. It is of equal important to manage it properly to ensure it is aligned to your goal of achieving financial freedom. Millionaire Mind Intensive Money Jar Management System is perfect for this. Every jar is aligned to helping you achieved financial freedom.

Money Jars

1. FFA-Financial Freedom Account, 10%. The money in this jar should go to creating more passive income, either Investment or Business Passive Income. Talk to a Financial Planner to help you plan & set up this account.

2. LTSS-Long Term Savings for Spending, 10%. The money in this jar can be for that car you are saving for, a down payment for the house you've been saving for, your kids college education and a whole lot more. Just remember it should be a big spending in the next 5 or more years.

3. Education, 10%. This money is for your continuous education. I suggest spend it for education that will help you earn more money, particularly more passive income. Like learning how to do internet marketing, real estate investing, stocks investing and trading, leadership training, personal growth seminar and the like.

4. Play, 10%. This is my favorite jar! This let you enjoy the money you work for and earn. This will reinforce your drive and passion to earn more money because the more money you earned the more money in your play jar to enjoy. Spend it! Splurge it! Make it feels that you deserve every piso you spend it for. Have that emotions that you really feel wealthy in all aspect of your life that you would like to have more.

5. Give, 5%. This is the spiritual side of money management. The more you give the more you receive. Be a generous giver and an excellent receiver. You can increase this to 10% or more as you journey towards financial freedom, adjust necessity jar to offset the increase in your give jar.

6. Necessity, 55%. This is your cost of living. Simplify your life, this could be the one jar that if you manage poorly or properly can dictate how long you'll achieved financial freedom. I have written a blog post about practical tips on how you can save more money.

I know this is easier said than done. The key is ACTION. You & I need to take actions. Martin Luther King Jr. once said “Take the first step in faith. You don't have to see the whole staircase, just take the first step.” To help you take the first step in achieving your financial freedom, register in my Financial Freedom Webinar happening this March 22, 2016, 8pm-10pm (Manila time). We will talk about how to have the mindset to earn more income (active & passive), more about money jars and how you can get started in making your FFA work hard for you. Click HERE to register or click the register button below.

Millionaire Mind Intensive Philippines - Experience

Sharing with you my #MMIPH Millionaire Mind Intensive Philippines experience.

It is an exciting 3-day event of the signature seminar & training of T. Harv Eker, author of the famous Secrets of the Millionaire Mind book. Here are the highlights per day!

1st Day

February 26, Friday is the first day. The venue is jam packed with people eager to learn. VIP seats are full same with the General admission. It was a sold out event!

Lead trainer is Rob Riopel started the day with money association exercise. Try it for yourself, complete the sentence with the first thing that comes to your mind.

1. Money is...

2. Money is...

3. Money is...

4. Wealth is...

5. Wealth is...

6. Rich people are...

7. Rich people are...

and a bunch of money belief questions.

Next is winning the money game. Definition of Financial Freedom. FF = Passive income > Expenses.

2 Types of passive income.

1. Investment Passive Income

2. Business Passive Income

Expanding Financial Freedom meaning to: FF = working income + savings + investments + passive income + SIMPLIFY

Then come the world's simplest, easiest and most effective Money Management Method. the Jar system.

  

The whole afternoon is all about belief system. With a highlight activity in the evening. This activity has brought a lot of clarity to me particularly on my money belief system. Amazing day 1!

2nd Day

Is another amazing day. As we learn how to do daily VAKS, Visual, Auditory, Kinetics and Spirit. Including money declarations.Learned to be grateful for every money that comes our ways particularly, surprisingly even the small ones. We end the night with a game about Savers, Avoiders, Spenders and Monks money personality.

3rd Day

Excited for the last day. Morning is all about releasing believes that are not supporting our life. Slow and silent we inquire within using meditation.

The afternoon is the best as we do Arrow breaking!

This activity is the best and truly an amazing experience. The rest of the afternoon is all about celebrations.

It's truly a world class experience. Excited to invite my family and friends to the next Millionaire Mind Intensive here in the Philippines.

How to manage your money

Pay Yourself First

Income less Expenses = Savings

This is how most of people manage their finances and most of the time their savings equals zer0.

Believe it or not with just one change on this equation, the result is phenomenal!

Income less Savings = Expenses

This is the secret to start building wealth. PAY YOURSELF FIRST!
This is more of a mindset that the remaining money after savings will enough for your expenses. This will force you to make fit the remaining money to your expenses. If you need practical tips on how you can save money through your expenses, check out my previous blog post about it here. Practical TIPS on how to save money.

To reinforce this kind of money management you need to make it a habit. Start with a comfortable, convenient, affordable amount of money you want to save. Do it regularly and increase it as you feel right. The important thing is you have to do it NOW and do it regularly. Once it become a habit it will be automatic for you to Pay yourself first and save.

What you do with your money is another thing and it will be our next topic. For now get started in your savings, do it now, do it regularly, increase as you feel right.

Share your thoughts on this and let me know how have you done with savings and paying yourself first.

Practical TIPS on how to save Money

Saving Money

Before we talk about how you can save money, it is equally important to know why we are saving money in the first place. 

To help illustrate the value of savings let me show you how regularly saving money can grow over the long term.

A weekly savings of P250.00 per week is a thousand per month (P1,000.00) and P12,000.00 per year. If you start saving that amount at age 21 and do it regularly it will become P360,000.00 when you are 50 years old. Now a days a big portion of 50 years old does not have that amount of money.

It even becomes better if you have invested your savings in an instrument that yields interest. See for your self. Before we go deeper on where to invest your savings, lets deal first on how you can have a regular savings.

I've learned a lot of these from Vic Garcia's Unleash the Highest Potential of your Money seminar/book.

Here are our top expense category:

Education

Food

Utilities

Transportation

Clothing

Children

EDUCATION

Exhaust all possibilities to study for FREE. (Scholarship programs from the Government, Companies, Schools, Athletics and others).

Encourage your children to study very well by showing them the benefits and value they can get.

FOOD

 

Create a menu for the week and support it with a grocery list. Stick to that list.

Go to the grocery with a full stomach.

Buy the food not the brand or label.

Refrain from buying processed food, they are more expensive. Decide to live healthier and Wealthier.

UTILITIES

Check your bills every month.

Get only services that you really need and use.

Get only appliances and equipment that you really need and use.

Use them wisely.

TRANSPORTATION

Ride Fx instead of Taxi, Jeep, instead of Fx or better yet WALK.

Don't get a car if you don't need one. If you really need a car and you have limited budget, get a good 2nd hand car, if you have the budget (lots of money) it's better to get a brand new car.

CLOTHING

Buy clothes during SALE and off season.

Buy the clothes not the brand.

Wash and iron clothes properly so it will not easily look old.

Learn to recycle unused gifts.

CHILDREN

Do not be a crowd-pleaser and a child spoiler. 

Agree not only on the item but also on the price when buying toys. 

Teach your kids how to save and the value of savings.

Lastly, STAY OUT OF DEBT particularly bad debts, if you do not know the difference between a good and bad debts, the more you have to stay out of debt. This includes revolving credit card dues, personal loans and the like.

Next topic is the correct mindset in saving money.

Let me know what you think about this blog post. leave a comment. If you find value in this, kindly share to reach more and help spread this awareness.

Take 2, How to get started in the Stock Market

This is really GOOD news!!!

We're doing a second run of the first Stock Market Garden webinar "How to get started in the Stock Market".

Here is the link for the registration http://t.co/FVBEtIZlzk. This is FREE webinar, no need to pay anything. It's my way of giving back to the world, for all the blessing I have been showered for the past 35 years of my life and counting including the 8 years of being in the stock market.

The StockMarketGarden.org is also up and running it contains articles about getting started in the stock market (for now). Visit the website and read about the upcoming take 2 of "How to get started in the Stock Market" webinar. There is also a post about the three (3) important information you need to know to get started in the stock market.

Looking forward seeing you in this webinar. It is happening on Saturday, June 21, 2014, 3:00pm to 4:40pm Manila time.

Hope you also find your success in the Stock Market.

How much can I really earned in the stock market?

A 50% gain / earning in a day in stock market is just a bonus and do not happen everyday (we''ll take it anytime the opportunity present it self). Here is another way to look at how much you can earned in the stock market.

You know by now that you do not need too much money to get started in stock market and your investment going ceiling do not happen everyday, so how much could my money earned overtime?

I will give you an example; let us say you found out that your near by retail/wholesale store Puregold will now be listed in the Philippine Stock Market starting October 2011 and because you believe on the strong growth potential of this company, you decided to invest on a regular basis a minimum board lot for Puregold starting November 2011.

Then, every end of the month you started buying 100 shares (minimum board lot) of Puregold starting on October 2011 and you did this for the next 12 months/ 1 year until September 2012.

After one year on October 2012 your total investment amounted to P26,598 and the market value of your investment in PGOLD has grown to P35,940.00 giving you a gained of P9,342.00 or 35% gained on your total investment.

And after another year on October 2013 without putting any additional investment your investment market value has grown to P54,120.00 giving you a whooping gain of P27,522.00 or 103% gained on your total investment, this is conservatively doubling your money in a year.

Your average monthly investment from October 2011 to September 2012 is only P2,216.50, imagine if you can afford more than that every month.

Do not get me wrong there is risk involve in the stock market and it requires proper risk and money management to be successful. Proper education is one of the key to successfully managed your risk and investment.

To know more on how you can get started in stock market register for a FREE webinar on May 31, 2014, Saturday, 7pm - 8pm here https://t.co/rh7XkWYFCp.

How much can you earn in stock market?

How timely can it ever get, to be able to explain how much you can possibly earn in the stock market in a day, by actually earning it for real!!!

Today, May 20, 2014 the most traded stock in the Philippine Stock Market is COAL its price goes CEILING!!! 50% increased from last trading day traded price. That is also the maximum possible earning you can earn in the stock market 50% return in a day*. To give you a complete view there is also a floor price which is also 50% decreased from last trading day traded price.

Call it lucky because in our trading account this is the only stock we have in our portfolio, 100% lock and loaded!!!

COAL is the stock code of Coal Asia Holdings Inc. it is a holding company. It owns 100% of Titan Mining & Energy Corporation that announces yesterday that they just secured compliance certificate from DENR, causing the price to move up up and away.

Again I invite you to join me next Saturday, May 31, 2014, 7pm - 8pm in a FREE webinar on how you can get started in stock market. Register here https://t.co/rh7XkWYFCp.

Please be advised that to capture such price action it requires a specific set of analysis, focus, mindset and intuition that you'll develop overtime in the course of your stock market experiences. For the mean time the only action you need is to know how to get started in stock market and I will be giving you specific action items you'll need to do to get you started in no time in the webinar. This is FREE!!! Register here https://t.co/rh7XkWYFCp.