What makes you respond to the Philippine booming economy, as we all hear right now in the Philippines. CNN reports last year what surprisingly growing Philippines is way back July 2012. Stock market (PSE) index reaches new milestone as it breaks to PHP. 6000 Levels as of January 7, 2013.
We’ll as a person who mainly observes these changes in our lives. I know in my heart I want to be a part of this success and have my own personal literacy, but how? I am still in the process of creating my own Financial aid and saving funds so in a few days or a month I could join the rally of the Philippine booming economy through Metrobank FAMI for mutual funds or FirstMetroSec for buying or trading in Philippine Stock Market (PSE)
Reading books on financial literacy,Financial literacy Videos and blogs that teaches personal literacy pushes me in reaching my dreams and conquer what I long but forgotten. The first step of these is save and learn towards achieving our goals. Saving Funds that you will be needing in the future.
Tyrone Solee of Millionaire Acts says Income – Savings = Expenses not the other way around. Well, me as an ordinary person the principle I have in life right now is Income-Expenses=Savings. I’m sure most people do. Tyrone as Personal Financial Literacy blogger and one of the best is definitely right. Right now, I will put that it as a motto in my life so maybe at age of 35 I can be millionaire as he reaches 26 to be a millionaire. (Drool)
Tyrone Solee also mention in his Millionaire Acts – Financial blog site Seven Money Habits of Truly Rich People.
1. They Value It. The rich treats cash with incredible admiration and does not squander it. They realize that cash is a financial seed that can make a fortune and might be utilized as a lever to attain more time and monetary flexibility or Financial freedom.
2. They Make It. The rich create the cash. They work to learn. The more keen their mind, the simpler for them to venture enormous gaining outcomes at a shorter time to time. Money is just a thought. A basic thought can transform into millions if achieved properly.
3. They Manage It. The rich grasps and applies successful money stream administration. They drill an exact budgetary for each peso in their ownership. They screen their monthly wages and costs and adjust it accordingly to prioritize a greater amount of their necessities than their wants. As Warren Buffet says: “If you buy things you do not need, soon you will have to sell things you need.”
4. They Save It. The rich accepts that a part of what they gain is theirs to keep, which is key for financial ability. They realize that a minor measure can transform itself into a generous whole.
The foundation of wealth is delayed gratification. Use less than you can afford so you can put the contrast for more terrific worth in the future.
Materialism doesn’t carry satisfaction yet it does keep you from attaining riches. It will keep you joined to the shallow instead of interfacing with the deeper cause that drives you to accomplish riches.
Don’t mislead by the consumerism myth that being rich is about living an exposed lifestyle. Most self-made millionaires live modestly – that is how they built their richness. As Will Smith says: “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.”
5. They Invest It. The rich have confidence in the Law of the Harvest. They plant the rich seed, grow it, and permit it to influence a greater amount of its kind.
6. They Shield It. The rich shields their fortune tightly. They accept that financial fortune is measured not by the extent they win yet the extent they keep. They safeguard and save their fortune with incredible caution.
7. They Share It. The rich practice the guideline of favored giving. They impart what they have to open hearts. Giving is a cash multiplier that adds quality to their prosperity a thousand fold. They accept that there is a period for collection and a period for distribution. The extreme motivation behind financial riches is to assist others discover their own. As Bendixline said: “A man’s true wealth is the good he does in this world.”
These simple money habits are what sets apart those who build wealth from those who just appear wealthy.
There are three C’s of life: Choice, Chance, Change.. You must make the Choice to take the Chance if you want anything to Change.
For me it’s never too late as there is always today, NOW to start building my Financial Goal. I will definitely keep this Seven Money Habits of Truly Rich People. I will grasp the Philippine booming economy today and be a part of the growing Philippine Stock Market. Watching financial literary videos, Personal finance blogs and sites that will help me grow my investment.
Resources:
Rappler – PSE New milestone 6000 level
First Metro Asset Management Inc
First Metro Securities – Trade Stocks Online
Personal Financial Blog Tyrone Solee of Millionaire Acts.