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.

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.

TRQ 3.0 is coming!!!

Think Rich Quick seminar by Trace Trajano is happening this weekend April 29 - 30, 2011.

It will be TRQ 3.0 because it's the 3rd time they have done this seminar and I'm lucky to be part of the 2nd run.
Get your tickets now because it's selling fast and you might not be able to get one if you don't act now!!!

Get your tickets here.


You'll learn here not just Real Estate Investing in a Philippine setting but you'll also learn about "Internet Marketing" and "How to have a Millionaire Mind Set" from the best PINOY coaches.

Since TRQ 2.0 I've been applying the principle I've learned from it and have been reaping the rewards. Get ready to learn and earn in TRQ 3.0.

And if you decide to join TRQ 3.0 just send me your ticket confirmation and I'll share with you a very special audio book about the source of "The Secret" movie/book, where you can learn how to get the law of attraction work for you. Get NOW your TRQ 3.0 tickets here. Or go to http://tinyurl.com/TRQ3-0 for more details.

Remember knowledge is not power it's knowledge in action is the REAL POWER! ACT NOW!