1. Prioritizing – Know how to priorities. The two key principle in
prioritizing are:
a. Importance
– How important is it for you to have or to make things happen?
b.
Impact –
What is the impact if you make this happen? How does it affect if things will
never happen?
Example:
|
Event
|
Importance
|
Impact
|
Remarks
|
|
Business
meeting
|
1*
|
2*
|
2nd priority
|
|
Daughter
admit to the hospital
|
1
|
1
|
1st priority
|
Note: It depends on you what’s important to you. For me family
is the most important.
Rating – 1 high; 2 – medium
2. Budgeting – List down all your expenses. Monitor you
spending habit. This will give you an idea where your money went & you can
cut those expenses that are less important. You can download an app in
Play-store like money manager to track down your daily expenses. Tips:
before going to grocery store take a photo of your refrigerator to have an idea
what you only need to buy.
3. Saving -
The rule of thumb in saving is “Pay yourself first”. Apply the 70-30 rule. This
is how it goes:
|
INCOME
|
SAVE
|
BUDGET
|
|
100%
|
30%
|
70%
|
Note:
30% savings can be divided into three:
1. Emergency
fund – 10%
2. Invest –
10%
3. Tithing –
10%
4. Investing -
Learn on how to grow your money on investment vehicle like Stocks, Mutual
Funds, Bonds, Real Estate & VUL. Did you know that you only need
P1,500 per month for you to start investing in stock market and become
shareholder of Jollibee, SM, Ayala, 7-eleven, PLDT etc.
5. Bargaining –
Learn how to negotiate. You can take advantage on discounts or as regular
customer to make “tawad” on your purchases particularly on public market.
Master these skills for you to achieve financial freedom. For
guidance on how to start the correct way to save & invest just send me your
details: name, contact number & email address for free financial planning
& coaching.
Email me:
jgantiporta@gmail.com
Fb
page: https://www.facebook.com/Julsantiporta
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