I would always push for developing that discipline as it paves the way to a better and more secure financial plan.
I’m so happy for myself having that practice now at this point in my life. And I just did again it last Friday (14th is our sweldo day). I noticed now how it has really become automatic in my system.
Whenever I hear that our salary has been credited to our payroll account, I simply log-in online to BPI ebanking, and TADAAH!
in just matter of clicks, I’m done paying myself.
I immediately set aside a portion for my investment as my monthly addition to my retirement fund on top of increasing my already enough emergency fund.
Then I adjust myself to what’s left.
The sad thing though is that while we’re clear in our agenda of paying ourselves, we may as well be committing mistakes on the second part of the equation – EXPENSES.
Yung maduming pera sa kalsada, pinupulot pa natin, pero ang problema, yung malinis na pera na nasa satin na, parang tinatapon lang din natin.
I hit that realization after reading the very practical books
Kontento ka na ba sa kaPERAhan mo? and Kasu-suweldo pa lang, ubos na written by Vic Garcia together with his wife Avelynn Garcia.
I suggest you grab your own copy as those two books contain very practical and down to earth tips on how to better manage your finances. I liked very much their style of writing talking to their readers. Lots of humor too. I felt like attending a live seminar with their reality-drawn dialogues. Definitely a must read!
Below is also another sharing from Lyndon that may help you in one big financial decision you’ll ever make – that of buying your house.
Enjoy the rest of the week!
Have fun investing!
Let me discuss about the BIG BIG BIG Price of delaying gratification. I know that all young couples dream is to have a house of their dream, its an emotional thing. A house for a Filipino is not just Investment but it is also a symbol of Success and Security even though in reality is not. Your house depreciates in value and only the lot is actually appreciating, in short a house is not an asset but a liability. The bigger the house, the bigger the need for maintenance.
Lyndon Malanog is one of the mentors of Bo Sanchez and Truly Rich Club, and a director of IMG – World Financial Group. He is also an Entrepreneur and the Financial Coach of Bo Sanchez, Inc.. He continuously gives “Financial Discipline and Wealth Management” seminars to companies and groups as part of his noble mission and advocacy of educating people.
Start building your financial foundation by attending IMG’s Wealth Academy Series.
Sign-up here (or below) to reserve your seat.
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