How to be a Billionaire

The story and article below from Bo Sanchez  really explains the importance of saving and an awareness of personal finance for a person's future.
Very often I see and hear people talk about how barely anything is left of their salary every month, how "matipid" they supposedly are and yet they are hardly able to save anything because they spend for their nearest whim may it be toys, shoes, gadgets, etc. The concept of delayed gratification is so lost most of the time. Although I am all for treating yourself from time to time for all your hard work, I am also a very strong advocate for saving up and more importantly, seeing the bigger picture of "why" you're saving money. I am very goal-oriented and everything I do needs to have a reason and purpose. I do purchase some stuff from time to time on a whim (retail therapy :p) but I do make it a point to stay on track with my goals and avoid unnecessary spending as much as possible.
One of the most prevalent poor mindset when it comes to money came from one of my previous bosses. I'm sure that you've heard this at least once from someone you may even know very well (i.e. you): I had just gotten a raise and my boss said, "Anong bibilhin mo sa raise mo?" (What are you going to buy with your raise?) and to that I said, "Ah wala. Ise-save ko yung sweldo ko." What he told me has stuck with me since then as a lesson as to how NOT to deal with excess money. He said... "Ha? Sinasabi mo lang yan. Ganyan naman e. It's natural. Kapag tumataas ang suweldo tumataas din ang gastos." I'm not sure if I was able to hold my eyebrow from raising at an incredible angle but I thought to myself that it wasn't necessarily so and more importantly, it shouldn't be so. You're dooming yourself to living the same lifestyle forever instead of actually moving up.
It's something to think about. Personally, I replay that line in my head whenever I feel like spending. It allows me to have a "reality check" and puts me back on track. I just think about my 30-something boss who was already at a very high paying position in our company and still did not yet seem to have the right monetary mindset. I hope that in the years since we last saw each other that he'd straightened up his financial mindset most especially since he now probably has a family.
Anyhow, please do take the time to read Bo Sanchez' article below. It'll really change how you see things and it'll not only show you the importance of saving and investing early but he will also tell you where to put it. This is the concept that is so difficult to explain (believe me I've tried to explain it time and again) most especially to people who are already a few years into working and still have not even begun to think of their future and have not yet begun to save a single cent.
=============================================================
One day, a man got lost walking in the desert.
       The next day, he was still lost.

After two days under the scorching sun, he was very thirsty. 

       All of a sudden, he saw a little wooden shed.
       He ran to it, thinking of only one thing—Water!
       When he arrived there, he saw an old, rusty water pump sticking from the ground. He gripped the handle and began pumping like a mad man. 

But nothing came out.

       Disappointed, he stepped back how to make it work.
       Looking around, he saw a jug covered with dust.
       When he grabbed it, he saw a piece of paper stuck on it. The message read, “Open this jug and you’ll find water. Don’t drink it. Pour it instead on the pump. And you’ll have all the water you want.”
       He popped the cork. 

True enough, the jug was filled with water. Lovely, thirst-quenching, water.

       Now imagine you’re that thirsty man. 

For two whole days, you haven’t drunk water. Your mouth is so dry, your tongue is sticking to the roof of your mouth. You’re literally dying of thirst. And you’re now holding a jug full of water. But the message says that you should throw it away!

       For a moment, your heart is torn. 

What if the message was a joke? A cruel prank? What if you poured the water on that rusty pump and nothing happened?

       But the man in our story chose to take the risk.

He closed his eyes, took a deep breath, and poured the water.

He held the handle and pumped like crazy.

A few seconds later, torrents of water gushed out. Indeed, he had more water than he could ever need!

He drank to his heart content. He also found water containers to bring with him in his journey and filled them up to the brim.

But before leaving the place, he filled the jug with water.

And underneath the sign attached to it, he scribbled, “I tried it. Believe me, it works.”

You Have A Choice:

Drink Now Or Drink Forever

This is a great picture of why people are poor.

The money that you hold now, no matter how small, is like that jug of water. And you always have a choice: You can drink now or you can drink forever. You can have money now or have money forever. 

How? By investing.

A lot of people don’t invest. 

They spend whatever they have.

I’ve met people who earn P10T a month or 50T a month or P500T a month—and they spend everything.  (Yes, I’ve met a lot of high-income poor people!) That’s why their money pump remains dry. And they’ll remain poor forever. It really doesn’t matter how much people earn. What matters is how much they invest.

Investment is a crazy decision.

It’s as crazy as pouring that last jug of water into the pump.

Friend, you have money now.

It may be small but you have it.

       And you’re standing in front of a money pump.
       Actually, three money pumps:
·        Business: Traditional, Franchise, Networking, etc.
·        Property: Rental Property, Buy and Sell, etc.
·        Paper: Bonds, Mutual Funds, Stock Market, etc.

But today, I’d like to focus on the “Paper” money pump. 

Not everyone can start a business right away.

Not everyone can buy a property right away.

But almost everyone can invest in Paper Assets.

Friend, you have a choice.

       Will you simply consume your little money?
       Or will you pour it into the money pump—so that it produces more money for you?

I call this sowing in time of famine.

Don’t Wait For Better Times

Before You Invest

       In the Bible, Isaac sowed in time of famine. 

Crazy, right?

Shouldn’t you keep whatever seeds you have to eat?

But because he did that, the Bible says, that year he harvested a hundred times as much as he had sown, because the Lord blessed him. He continued to prosper and became a very rich man.

Wow.

If you want to be rich, you need to sow in time of famine too.

When you have very little money, that’s the time to invest.

       Here’s a promise: The seeds that you sow in time of famine will give you your greatest harvest too.
       Do you want to prosper?

Here’s a Bible passage that will tell you how.

Invest When Your Money Is Small

Proverbs 21:20 says, The wise man saves for the future but the foolish man spends whatever he gets.

Are you wise?

Let me tell you the story of Jack and Jill. 

Jack and Jill went up the hill to get a pail of water.

Jack fell down and broke his crown and Jill came tumbling after. And the people who saw the horrific accident, they sang and clapped their hands, “Lalalalalala…” (Our nursery rhymes are very strange.)

If all this time, you’ve always been wondering what happened to Jack and Jill after their fall, now you’ll now.

Jack had brain surgery and he recovered.

But he had no health insurance—and his high medical expenses made Jack’s family very poor. This experience changed his life. The emotional pain created an inner resolve in him.

Jack told himself, “When I grow up, I’ll never be poor!”

At age 15, he started a small business.

Everyday, he sold peanut butter and jelly sandwiches to his classmates. Every month, he earned P2500, which he invested in the Stock Market. His uncle advised him to buy the stocks of strong, solid, great companies. For the next 5 years, he was faithful with his investments. 

When he reached 20 years old, he volunteered in Anawim, a ministry for the poorest of the poor. He received only a small allowance and didn’t have any savings.  From then on, he couldn’t add to his investments anymore.  

Jill Saved At Age 27

Jill had a different life story.

The fall from the hill didn’t affect her too much.

No traumas. Except for a few scratches, she was okay.

She lived a happy-go-lucky life and didn’t save at all.

She worked as a mountain climbing instructor. So her fall from the hill affected her after all, at least subconsciously. She made it her lifelong goal to prevent people from falling.

But she lived like everyone else—spending her salary on “stuff”. Nothing was left at the end of the month.

But when she was 27 years old, Jack called up Jill and invited her again to “Go to a prayer gathering called the Feast.” There, she heard a handsome preacher say that it’s okay to be rich if your heart is in the right place.

That experience changed her life. 

At 27 years old, she began to save P2500 a month. And like Jack, she also invested it in the Stock Market—the same strong, solid, great companies that Jack invested in.

She was so faithful to her investments, she didn’t stop until she reached 65 years old.

Happy Retirement

One day, when they were both 65 years old, Jack and Jill had lunch together after the Feast. 

While waiting for their dessert, Jack said, “My service in Anawim is so happy and fulfilling.  But I guess at my age, I think I’m ready to retire.”

Jill said, “Me too. At 65, it’s getting a bit difficult to climb mountains.”

That was when Jack touched her hand said, “Jill, remember that day we went up the hill to fetch a pail of water?”

“Yes,” Jill said. “You fell down and broke your crown and I came tumbling after. How can I forget?”

“Do you know why I fell?”

“Why?”

“Instead of looking at where I was going, I kept looking at you.  I had a big crush on you.”

Jill blushed. “You did? Jack, I had a big crush on you too!”

For a few minutes, both of them couldn’t stop laughing.

Jack Pops The Question

That was when Jack looked at Jill and said, “I’m 65 years old.  I don’t have much time left.” He knelt on the floor, held her hand, and asked, “Jill, will you marry me?”

Tears filled her eyes, and she said, “Yes!”

After a few hours of celebrating their old new love, they sat down to discuss their finances.

“How much money did you invest?” Jill asked.

Jack said, “That was a long time ago. For 5 years, from age 15 to 20, I invested a total of P150,000.”

“That small?” Jill looked at him with pity. She said, “For 38 years, from age 27 to 65, I invested a total of P1.17M.”

“Wow,” gushed Jack. “I’m marrying a rich woman.”

“I’ll take care of you,” she squeezed his hand. “But I wonder how much money we have?”

“Let’s take a look.”

Both of them called up their Stock Broker.

Both were totally shocked…

Total Amount Investment:
Jill: P1.17Million
Jack: P150T
Total Retirement Money if it Grew at 20% A Year
Jill: P220M
Jack: P1 Billion

Jill Is A Multi-Millionaire;

Jack Is A Billionaire

       If Jack grew his money at 20% a year by investing in great, solid companies through the Stock Market, he’s now a billionaire.
       He did that by investing P150T some 45+ years ago.

Jill, because she invested late by 12 years, even if she invested a much bigger amount, P1.17M, has P220M “only”.

Are you 50 or below? You can retire with a few millions.

Are you 40 or below? You can retire with tens of millions.

Are you 30 or below? You can retire with hundreds of millions.

Are you 15 or below?  You can retire with a billion.

How?

Sow in time of famine.

       Don’t wait for better times before you invest.
       Don’t wait when you have excess money.
       Invest now while your money is small.
       Because your greatest ally is time.
        

The Two Ways To Invest In The Stock Market

How do you invest in the Stock Market?

You can do so Directly and Indirectly

You can invest indirectly through a Mutual Fund Company. 

There are many great ones around. 

On average, you’ll earn 12% or more.

The key is to do this long term. That means for ten years or more, invest every month a small amount of money.

Or you can invest in the Stock Market directly.

If you put small amounts of money every month, buying stocks of great, solid companies (no penny stocks, please!), you can grow at 20% on average every year over the long-term.  Again, only if you do this for ten years or more. Disregard the lows, the crisis, the recessions. Just keep investing when others are panicking. Sow in time of famine!

Some people will tell me 20% is an unrealistic number.

Not true.  It’s really quite simple. In plain English, I teach people how to do it my TrulyRichClub. (More on this later.)

But the key is discipline.

You have to be consistent in investing every month your small amount of money. 

How small?

My house helpers invest in the Stock Market already.

That’s how small.

A True Story

       My three house helpers now partly own Ayala Land and Manila Water Co. Because they invest in the Stock Market.
       How did they do it?
       They changed their mindset.
       They now have a goal: To retire with P5 Million in 20 years.
       And I taught them a very simple system.
       Each week, I meet my driver and my three helpers for prayer, sharing, and bible study.  In these meetings, I coach them spiritually and financially.
       For years, I noticed that nothing is left in their salaries. All their money goes to their families back home.
       So I taught them a very simple system that changed their lives. If they can do it, you can do it too.

I discussed this system fully in my Ebook, My Maids Invest In The Stock Market… And Why You Should Too! 

If you’re a TrulyRichClub member, you already received this.

Every month, I also send to my TrulyRichClub members a Stocks Update. Through it, I tell them what Stocks to buy, when to buy them, and when to sell them. To join, simply log on at www.TrulyRichClub.com now.

       Warning: There are many scams out there that lure ignorant people from their hard-earned money and run away. Please be careful. If you have any questions, I’ve provided email addresses below for you to email.
       Are you ready to change your financial life? 

Let me end by giving you step-by-step instructions on what to do next…

Instructions:

       Step 1: Invest 30% of your Income, Live on 70%
       Why 30%? 
       First, invest 10% in the Kingdom of God.  This is your investment for eternity.  Tithing is your greatest investment. You tithe to the spiritual family that nourishes your soul.
       Second, invest 20% into your Retirement Fund. For most, it’ll be in Mutual Funds or the Stock Market. For a few others, it’ll be in business and properties.
       And then live on 70% of your income. Simplify!
       Step 2: Invest First Before Spending

That’s why the Bible says to give Him the “first fruits”.

When your receive your salary, set aside your 30% right away. Don’t spend first and then invest what’s left. From experience, nothing will be left. 

Step 3: Choose Between Mutual Funds or Stock Market

       If you have fifty million or more, and if you’re sixty plus years old, I’ll point you to Bonds and even Banks to keep your money.
       But for the rest of us, choose between Mutual Funds or the Stock Market to invest your long-term savings. By long-term, I mean 10 years or more. Each month, you add. But you don’t subtract. Call it your Retirement Fund to brainwash your mind that you won’t touch it.
       What’s the difference between Mutual Funds and the Stock Market? In Mutual Funds, you pay a company to manage your funds. Like Philequity or Prudential Optima or ATR Kim Eng and Sunlife Financials or Philam Asset Management… For a small management fee, they take care of your investments. Many insurance companies also combine insurance products with investments, and you can look at those too.
       But if you invest in the Stock Market directly, you manage it yourself.  Obviously, you earn more if you learn to invest well.
       And yes, you can also do both.
       To avoid confusion (and to avoid scams), I’ve written down some resources for you to call or email below.

Mutual Fund Resources

If you like to invest in Mutual Funds, you can email my friends Lyndon Malanog and Fely Santiago. They’ll be happy to assist you. You can email Fely at fely.santiago@yahoo.com or Lyndon at lyndonmalanog@yahoo.com now. They can also help you grow in your financial journey by giving you more opportunities to learn.

Stock Market Resources

       If you’re interested in investing in the Stock Market directly, you can log on at www.citiseconline.com and attend their seminars. Or call them up at Tel. 6333777. For more information, you can also email helpdesk@citiseconline.com.
       If you want my personal guidance on investing in Stocks, join my private group called TrulyRichClub.  Each month, I email you a Stocks Update, giving you in plain English (no financial jargon) how to grow your Stocks investments. I tell you what Stocks to buy, when to buy them, and when to sell. Our long-term goal is 20% growth or more every year. To join, log on at www.TrulyRichClub.com now.

PS. Avoid Confusion. Get guidance. Join my TrulyRichClub. Every month, receive my WealthStrategies Newsletter, my PowerTalks, my Stocks Update every month. Immediately, you’ll also receive my Ebook, My Maid Invests In The Stock Market… And Why You Should Too! To join, log on at www.TrulyRichClub.com now!  

Posted via email from alittlebitofeverything's posterous

Where to put your extra P5,000 to P10,000

As you know, I attended Bo Sanchez' How to be Truly Rich Seminar last February 6, 2010 at the St. Francis Theater in Lourdes Mandaluyong and there Bo Sanchez talked about investing your money in the right places. He advises us to save 20% of our income every month.

What do we do with the 20 percent? It depends on your current situation.You also have your current finance and debt situation to consider. Here are some questions to think about:

1. Do you already have an Emergency Fund?

      What's an emergency fund you say? An emergency fund is just that, money set aside for a rainy day or any emergency. Your emergency fund should be equal to at least 3 to 6 times your monthly salary. So, for example, if you're retrenched or get sick, you'll have enough money to cover your expenses for the next few months til you get better or find another job.

2. Do you have any debts?

     This is self explanatory. If you owe any one or any company any money then you have debt.You can use what is called a FREEDOM FUND to hasten your debt payments. Let's say, for example, you pay P5,000 monthly for your car. You add the FREEDOM FUND to your monthly payment of P5,000 so that your balance will go down much faster. The next thing you know you're already debt free!

So if you don't have an emergency fund yet plus you also have debt. Here's how you divide your 20%
     Place 1/3 of 20% in EMERGENCY FUND
     Place 1/3 of 20% in FREEDOM FUND (for paying off debt)
     Place 1/3 of 20% in WEALTH FUND (money for investing)

Just adjust this accordingly depending on your situation. Once you already have your Emergency Fund in place then you can then already allocate 1/2 each to your Freedom and Wealth Fund or if you don't have any debts then allocate half each to building your Emergency Fund and Wealth Fund.

Also remember, if you have any particular debts that must already be paid then you can put your full 20% towards your FREEDOM FUND.

Additionally, if your emergency fund is already in place and you're debt-free then you can also place the entire 20% in your Wealth Fund.

We'll talk more about the Wealth Fund soon.


- designstudentny

Have You Started Saving?

I've already attended Bo Sanchez' How to be Truly Rich Seminar twice and it took this 2nd seminar to remind me to save and invest.

I got so focused on running my business that I forgot all about investing and saving.

Have you started saving? Start early!

Bo Sanchez showed us a chart and told us a story about two people.

Let's call one of them Carlo and the other Anna.

Carlo started saving P20,000 a year (approx. P1,700/month) and invested it every year for 6 years. At the end of 6 years, he met Anna and he taught Anna all about saving (At the same time Carlo was stationed at another country so he had to stop saving). So Anna started investing P20,000 a year also. After 6 years, Anna was also stationed to another country so she also stopped investing.

After 20 years, Carlo and Anna both decided to withdraw their money. Carla and Anna had both invested P20,000/year for 6 years so they both put in P120,000 in investments. So would they have earned the same amount?

Anna went to check how much money she had and the banker told her she had P4.6 Million in the bank. When Carlo heard this he, too, checked the money that he had. Carlo asked the banker how much he had...

Guess how much he had?

Is it the same amount as Anna?

Carlo had P9 Million in the bank!

How'd that happen when they both put in the same amount of money? It's because Carlo had started investing earlier. So even if they put in the same amount of money (and even if he stopped investing after 6 years) through the law of compounding interest, Carlo's money would definitely grow more than Anna's.

So moral of the story??? Start saving and investing early!

Starting early makes all the difference in the road to wealth.


Start investing now!

-designstudentny


P.S.
Bo Sanchez' next How to be Truly Rich Seminar is on April 10, 2010 so be sure to mark your calendars and reserve a seat for this event.

In the mean time, you can also check out Bo Sanchez' TrulyRich Club. I'm a member of this club and Bo sends us emails every week, audio lessons 2x a month and videos every 3 mos. It's really such a blessing. I am learning so much. Check it out here or paste this link on your browser: http://www.bosanchezmembers.com/amember/go.php?r=1138

Here are also some of my favorite books on investing and money management:

My God Whispers for Today

I'm sharing the God Whispers that I received today from Bo Sanchez with you. It really hit home. Sometimes when you "grow up" you tend to forget how to dream. You become all about becoming "practical" and "realistic." You get so jaded because of your many experiences growing up.

This was a wake up call. It's not too late. Don't give up.




To dreams!


- designstudentny


P.S.
Want to receive your own personalized God Whispers?
God Whispers comes free with a subscription to Bo Sanchez' Truly Rich Club. I'm a member and it's been nothing but a source of such great blessing and inspiration. Learn more here or follow this link: http://www.bosanchezmembers.com/amember/go.php?r=1138

Are you Destroying Yourself with Your Own Words?

One of the things that really struck me when I read Bo Sanchez' past email was the huge effect that our words have.

A Japanese scientist decided to see how powerful our words are by experimenting with water.

Dr. Masuro Emoto took droplets of water and exposed them to different words, music and environments then froze these water droplets for 3 hours. 1 part was frozen as is and was not exposed to any words or music. The 2nd part was positively prayed over while the 3rd and last part was exposed to heavy metal music. Afterward, he examined these frozen droplets under a dark field microscope.

Guess what he found? How do you think the frozen water formations look like?

A normal drop of water when frozen looks like this:

 

This is how a frozen water formation looks like when exposed to hard metal music and the like:

See the difference with the picture below. This is how a positively prayed over frozen water formation looks like. Isn't it absolutely gorgeous?

You can read Bo Sanchez' entire article on this topic here but for now I'll leave you with these thoughts to ponder. If this what a few short minutes of exposure to negativity or positivity can do to water, can you imagine what it can do to you, your body and your life? Isn't our body 75% made of water?

I've heard quite a few stories of people who've cured themselves of serious illnesses such as cancer through positivity (you can read more about this story in The Secret) so imagine what the counterpart can do to your life and body.


Surround yourself with positive thoughts, people and things.


- designstudentny


P.S.
You can read Bo Sanchez' entire article on this topic by clicking here or by following this link:
http://bosanchez.ph/remove-the-lies-in-your-mind/

Want to receive messages like this from Bo every day, week or month? Subscribe to Bo Sanchez' Truly Rich Club and be nourished like I am. I am also a very happy subscriber. Click here to learn more or follow this link: http://www.bosanchezmembers.com/amember/go.php?r=1138

Here are some books that I've read that also teach of this same topic in more detail:

Your Wish is My Command

One of the things that Bo said during his seminar (How to Become Truly Rich) that really hit me was when he talked about the power of words. He talked the about the impact of the things that we say in our lives... how what we say tend to become self-fulfilling prophecies.

Here's a simple example:
Bob is asking Cara to look for the salt in the kitchen. Cara reluctantly stands up and goes to the kitchen to "look." Cara is "looking" for the salt but while she is, she's saying "I can't find it." "Bob, I can't find the salt." A few minutes later, Bob goes into the kitchen and in just a few seconds, finds the salt right on the kitchen counter in plain sight.

What's the point of the story? The lesson of this story can be summarized in this simple phrase: "Whether you say you can or you cannot, it is true." Cara kept on saying that she can't find the salt so therefore she couldn't find it. So be careful what you say. So when you catch yourself saying "I'll never become rich.", "I could never do what she's doing", etc. stop yourself and say the truth: "I can be rich."; "I can do whatever I put my mind to."

Remember to always speak in the positive because your words create your future. You are powerful. Your words are powerful.

Read this article by Bo Sanchez. It really blew me away especially the part about the Japanese scientists' experiment on water and rice. It will really change the way you think, what you say and maybe even what you listen to. It's a bit long but it's really worth not only your while but your life.
http://bosanchez.ph/remove-the-lies-in-your-mind/


Have a great day!

-designstudentny


P.S.
Bo Sanchez' next How to Be Truly Rich Seminar is going to be on April 10, 2010. Watch out for details on this blog.

If you want to receive more of Bo Sanchez' emails and lessons, you can check out his TrulyRich Club. He sends emails and newsletters every week as well as audio/video every month. I'm also a member of this club and every email is always jam packed with information. Bo's also so very generous as he constantly sends us unadvertised bonuses. Joining this club is worth every cent. Learn more here: http://www.bosanchezmembers.com/amember/go.php?r=1138


Here are other great books that I've read that have really taught me about the power of our thoughts and words in our lives:

Bo Sanchez' How to be Truly Rich Seminar

I attended Bo Sanchez' How to be Truly Rich Seminar last Saturday at the St. Francis Theater at the Lourdes School of Mandaluyong.

Photo courtesy of www.bosanchezbooksingapore.com

The seminar is still as dynamic, entertaining and more importantly information-packed as ever. It's actually my second time to attend and for the small fee that they charge, it was really worth every cent. For one, I realized that besides building businesses, I had totally neglected the whole other part about investing and saving. As I was going home with my boyfriend, I even told him how sad I felt at how I hadn't applied all that was taught in the seminar. In hindsight, I'm thinking at least I applied some of it. I stopped investing (but didn't stop saving) because of my mistake in investing when I was starting out.

The stock market was fast rising at the time that I started out and I got excited and maybe a bit greedy. I put all my money in a balanced fund. I even took out some of the money that I earlier invested in a fixed-income fund and transferred it to the balanced fund. Long story short... fast forward to the global recession and all the money is negative territory. I got blinded by my 5 digit returns that I totally ignored the voice in my head telling me to pull the money out or at least re-invest some of it in safer investments. I had even read that when the market double tops that's the time to take your money out. But did I take it out? No. So imagine my distraught when the market started plunging and I couldn't do anything about it.

Anyway, that's all water under the bridge. The stock market is slowly rising again. It's actually a great time to invest. Bo Sanchez said during the seminar that the best time to invest is when the market is down, when prices are low. It may be hard to do but this is when preparation and saving pays off because you'll have the chance to take advantage of opportunities that others cannot partake of.

Bo Sanchez reminded me that I needed to also invest money in paper assets besides putting them in my businesses. So starting this coming payday, I'll start saving part of my income to what Bo calls the Freedom Fund, the Wealth Fund and the Emergency Fund.

According to Bo, we should all FIRST AND FOREMOST, set aside 20% of our income for our savings. Pay yourself first! And divide this 20% into 3 parts:

1. 1/3 should go to your Wealth Fund - money to go into investments
2. 1/3 should go to your Freedom Fund  - money for paying debts, if any
3. 1/3 should go to your Emergency Fund - money set aside for a rainy day (like Ondoy :p)

This has gotten a bit long. I'll tell you more about the different types of funds next time.

Gotta go! Have to open a new bank account so I can properly set aside money from my salary.


Til Next Time,
designstudentny

P.S.

Bo Sanchez' next How to Be Truly Rich Seminar is on April 10, 2010 if you want to attend. It's still going to be in Manila but if you can't attend, the next best thing for continued education (even if you've already attended the actual seminar) is Bo Sanchez' TrulyRich Club. Me and my brother are already members of this and many of my friends have also signed up for this really great treat. It's like having Bo Sanchez' as your personal financial mentor sending you notes and lessons right in your inbox every week. Click here to find out more.
http://www.bosanchezmembers.com/amember/go.php?r=1138

Reading Bo Sanchez' books is also a great way to learn from him. Here are some of my favorites:

My Dreams and My Life

I am currently reading The Success Principles book by Jack Canfield. It's really changing my life. It's taught me to really commit to creating the life of my dreams. More than that, he's taught me that it is possible.

I'm making this blog to log my progress as I go through this journey. I started reading the book the last week of 2009 and barely 2 months into the New Year, I already have a new business, I enrolled in a once a week class for sewing (I dream of becoming a world class fashion designer) and I have big plans for expanding my new and existing businesses.

I truly hope that you can all join me in this journey. I also really hope to be able to share all the things that I'm learning from not only Jack Canfield but also from my other "mentors" like Bo Sanchez, Jomar Hilario, Loral Langemeier and Anthony Robbins. I hope that through my experience, you, too, can find the courage to reach for your dreams.

Hope to see more of you!



- designstudentny

P.S.

Here are some of the books that have helped and inspired me so much along the way. I'll tell you more about them as we go along but if you'd like to learn more, you can find out more through the links below: