Monthly Archives: June 2016

Poverty is not a hindrance in entrepreneurship.

Written by Adrian Pascual

For a developing country like the Philippines starting a business can be a big challenge. That is of course is an understatement. The need for capital to start a business is not the most important thing to have though. There are far more important things to possess than a stack of cash. Here are the top 7 most important things one must have before one enters into entrepreneurship.

 

Dreamer

 Be a dreamer.

“Dare to dream the impossible. The future belongs to those who believe in the beauty of their

dreams.” – Eleanor Roosevelt

 

One sure way to fail in life is to fail to see the big picture. Only through dreaming and dreaming big will you be able to have a clearer vision of the market and for you to plan for your company’s future.

 

Bruce-Lee-Must-Do

Be a doer

Have the Nike attitude of just doing it. Don’t just dream. Hustle!

Only through acting on your dream will you know the true outcome of your idea. Test your assumptions and discover new things about your idea and about yourself. This is vital in your entrepreneurial journey. You grow not by the successes you will have but by the mistakes you commit.

 

aos.iacpublishinglabs.com

aos.iacpublishinglabs.com

 

Be passionate

Be committed on your goal. Have a laser like focus on your goal. To achieve it do the following:

 

Plan – thoughtfully your business and it will most likely succeed. This will help you know what needs to be done and what goals and milestones to achieve.

 

Execute – the idea and execute it fast. As the saying goes; not a single idea has never been thought of by another person. The measure of success is not on how good the idea is but on how it was executed.

 

Adjust – or pivot as many time as needed.

 

Kill it – good or leave it. Don’t just try. Give it your all.

 

You will commit many mistakes and you will go through many ups and downs as you progress in your pursuit of success. These are important moments in your journey as important as the milestones you will achieve. Be relentless in your actions and be in the PEAK of your game. Always.

 

Entrepreneur.com

Entrepreneur.com

 

Be a people person

Network, network, network.

The lifeblood of any business are the customers. But before you get to that point when you are selling your products or services you need to connect first with people. Be it for future business partnerships, marketing, sales or mentoring the need to connect with different people is vital on your growth as an entrepreneur and of your business.

 

 

 

self-discipline-shaolin-monk

self-discipline-shaolin-monk

 

 

Be disciplined. 

“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” – Aristotle

Many entrepreneurs have the best business ideas but failed miserably because they can’t execute their plans or they can’t handle themselves in the middle of the journey. Mental toughness is key in entrepreneurship. The need to act on things must be tempered with a disciplined mind. You will encounter many problems, setbacks, opportunities and situations where you would need to choose which best action to take. Like choosing between: Saving vs. Spending or Expanding vs. Waiting. The ability to see things with a long term perspective in mind is something that one must develop over time.

 

http://3.bp.blogspot.com/

http://3.bp.blogspot.com/

Be hungry for knowledge.

Learning never stops.

Read as many books as you can. Watch documentaries. Enroll in short courses. Attend all seminars and conferences you can. Google as much as you can. Get a mentor to guide you.

Smiling human child hand listening deaf ear gossip

Smiling human child hand listening deaf ear gossip

 

 

Be a good listener

It is not about you. It is ALWAYS about your customers.

Build products that your customers need and will use or don’t build at all. Innovate based on the needs of your customers. Interview the right people and build your Minimum Viable Products through the gathered insights. This way you can save a lot from the process or not spend at all.

 

There are many ways to start a business without even having to shell out a capital. You can start a Consultancy Services company, Make something (like arts and crafts), Be Fashion & Beauty stylist, Babysitting services, Cleaning services or Sell old stuffs. Be creative in finding ways to start a business without having to spend much.

Sure, we need money to fuel the business. Heck to start it. But starting a business without the proper mindset and preparation is as bad as being broke. Poverty is not a hindrance but a challenge one has to overcome. A clear goal with the proper mindset and motivation are the vital tools one needs to succeed.

Adrian

 

 

Adrian F. Pascual is the Director and Founder of AP Media Communications, a business development consultancy company aimed at helping MSMEs’ grow and reach their full potentials. A man who wears different hats, he uses his extensive years of experience in the fields of Financial planning and management, Customer Service and Fraud Prevention, Client Relations and Retention and Sales and Marketing to help build and expand different companies. His advocacy is to build an ecosystem of socially responsible startups in the Philippines that will address the different issues in the society using modern technology for maximum impact. He also does professional copy writing for some of the top international news,business and lifestyle online publications.

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5 compelling reasons why you need to invest in real property

Thinking of a good investment for your future? Here are five good reasons why real property should definitely be at the top of your list.

 

REAL-ESTATE-COMMUNICATIONS

 

It’s a relatively low-risk investment

Of course, with investments, there can never be any guarantee. Depending on what it is you have invested in, you might end up losing more money than you gain. An investment in real property, however, is less likely to end up a fluke so long as you play the game right. After all, it is not without reason that real estate is considered a “rich gainer”. The key thing is to keep in mind that several factors—the geographic location, mortgage interest rate stability, inflation rate, population density, market behavior, etc.—determine whether a property is going to make a good investment or not. Play these factors well and you’re in for a positive cash flow in the years to come.

 

clocks

It’s not time consuming

 

If there’s one resource that is just as valuable as money, or even more so, it would be Time. The great news about real estate investments is that they are not time-consuming ventures. It’s more on learning to watch and wait for the optimum time—excellent market conditions that would allow for great property deals. The entire process involved in consummating the deal may be overwhelming at first, but don’t worry! You can always ask for professional help, but we’ll talk about that later.

virtual-leverage

 

You don’t need big capital 

 

What’s wonderful about real estate investments is that you don’t have to shoulder the finances alone. You don’t need to have a huge start-up capital. So how will that work? This is where the concept of leveraging comes in handy. It is a common practice in the industry for property investors to put in only a part of the full sum that they need for the investment. The rest of the financing often comes from other sources such as finance companies, investment companies, banks, and OPM (Other People’s Money). Your ROI (Return on Investment) will then largely depend on how well you have utilized the concept of leverage based on a keen understanding of mortgage rates, property appreciation, and other key factors.

Child-counting-money

 

You can benefit from real estate appreciation

 

Appreciation rates for properties vary depending on their location. Well-maintained locations and those that are in high-demand areas often garner the highest appreciation rates. These are areas you should be on the lookout for. You could even own properties that appreciate for as much as 8-15% annually as long as you know where to start looking.

 

atelier-growing-demand

 

 

There is a high demand for real property

 

Especially in highly-populated areas where usable land area is scarce, real estate properties are in high demand. These areas may be constrained by development regulations, resulting in an increase in demand for land. In such locations, it is thus not uncommon to see prices for real estate skyrocket. Going with the trend for real property is thus going to prove an entrepreneurial decision on your part, and one day soon you’ll be thanking yourself for investing in it.

While there are, indeed, strong reasons for making an investment in real estate, you might feel at a loss—not knowing exactly where and how to start. If so, that is not a problem! That is exactly why we’re here.

 

PHILGEMS Realty Corp, it is our passion to cater to those who seek professional help in real estate investing and property management, among others. Our organization is made up of seasoned individuals—professional licensed brokers, experienced consultants, and accredited real estate salespersons—all dedicated to helping you invest in properties wisely. So <a href=” http://www.philgems.com.ph/contact-us”> give us a call or leave us a message today </a>, and let us know how we could be of assistance. We would be more than happy to render our professional services so you could make the best out of your investments.

 

Richard Thaddeus Carvajal is a Registered Financial Planner and the CEO of Philgems Realty Corp.

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7 things Golden State Warriors can teach us about personal finance

 

Golden-State-Warriors-900x440

 

 

Congratulations again to all GSW fan for putting a good fight right now even we lost in the biggest stage (NBA Finals) that doesn’t mean we never learn. They are back to back Western Conference NBA Champion and won multiple awards for their organizations this year. That doesn’t stop there but they also made another history by beating the Chicago Bulls 1995-1996 historic run of winning 73 games out of 82. That record was unbeatable for the last 20 years. Is that a stroke of luck or there’s a formula for success in making things happen?

 

These are the recipe in order for you to replicate the success that you had yesterday without the following are a clueless wanderer on how to make things happen.

 

You got to have big why – Whenever they were asked what’s their yearly goal, the team consistently says “we want to win championships and break barriers”, with that answer, that propels them to drive the team to do the things they need to do. The Golden State Warriors teaches you to be reminded why you need to save, invest and have insurance. They also gave you insights that you need to keep on paying your mortgages and the reasons you need to put money on your mutual funds or retirement funds. If you want to win, you need to think with clarity why you need to monitor your finances and that will solve bigger issues.

 

STEVE KERR

 

You need a coach – When they started the season, head Coach Steve Kerr was not there to simply take care of his team full time but when the Golden State Warriors won their first 24 games, everybody was getting crazy. It was Luke Walton the assistant coach, secondary to Kerr was responsible in pushing those hard buttons early this season.  Having a coach increases performance since there’s accountability partner behind you, a coach should increase your awareness and help you bring into your consciousness all those existing issues that you have in your finances. They aim to simply make you progress on your finances in long-term not just acquire products that doesn’t fit to your goals and risk profile.

 

OAKLAND, CA - MAY 10: Stephen Curry of the Golden State Warriors poses with his back-to-back NBA Most Valuable Player Awards following a press conference at ORACLE Arena on May 10, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)

OAKLAND, CA – MAY 10: Stephen Curry of the Golden State Warriors poses with his back-to-back NBA Most Valuable Player Awards following a press conference at ORACLE Arena on May 10, 2016 in Oakland, California. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Ezra Shaw/Getty Images)

 

You need to play like an MVP – Curry keeps on doing a lot of crazy things in the court but the secret to it is his preparation and the way he lead his team will also reflect the outcome of their game.  He plays like an MVP, by breaking every stone wall, doing crossovers, dribbling in style and making sure her daughter present in the post conference haha. Every single day you should wake up with the mentality of getting things done, be assertive in your finances and play the whole 48 minutes of the game. If you are currently in debt, learn to hustle more and rebound from those old mistakes and put your best in the field.

 

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You need to prepare – When Curry and the rest of the team have this pre and post conference with the media, they keep on telling everyone about their mentality. “We need to be hungry and never settle from what we have achieved” That’s absolutely correct, when you are hungry, you are unstoppable. You better understand that you got money and if you won’t take care of it, you will surely lose it but if you are hungry to help more people and prepare for the worst it will prevent you from fatal disaster. You need to be serious with your money coz others (big companies designed their marketing to lure you) are serious to take that away those hard earned moolah that you have.

 

 

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You need to defy the odds – A historic run of 73 wins is another record high. A back to back champion is another one.  1st time in the history of NBA there’s a unanimous vote for MVP was another milestone for this organization. They started to believe and execute things daily and got the reward. You can also achieve it by deciding to win today.

 

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You need a great team- Golden State Warriors got plenty of guys to choose from especially when they’re shooting percentage is too low. They got their bench take over when Curry and Thompson also known as the splash brothers are missing a lot of shots, their bench are the one who is solving the gap and defense. In your finances, you should have a team who can help you grow but if those people who are with you are dragging your savings, making your investment go low then you might need to reconsider joining their gimmicks.

maxresdefault

 

You need to have an effective system – Basketball is all about system, the Warriors won their first 24 games and became the champion again since they have an effective routines, when it comes to your finances, I would recommend you to double check the things that’s working and not. Whenever you use your time, you need to make sure that there’s always a return of investment. Don’t just focus on passion but also focus on your routine. Gretchen Rubin said that your habits are the invincible architecture of your life.

 

The playing style of Warriors is like an army or a navy seal; they adapt, adjust and respond. They have core mentality that in order for you to win long-term, you need to let that ego out from the door and you will thrive more. See you again at the NBA Finals 2016-2017.

 

 

Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

 

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How to increase your financial IQ during traffic

 

Image by BusinessWorld Online

Image by BusinessWorld Online

 

The economic cost of traffic mayhem is devastating our country today and no one knows when it will end. Economic  Planning Secretary Arsenio M. Balisacan has said the economic cost equals $3 billion a day. The sad part of it is we lose that much money forever. Traffic jams wear us out physically and often mean the loss of quality time with family, deny everyone sufficient rest and certainly very inconvenient. While most people fret, whine and complain in their car seats, idle times like these actually present opportunities for people to learn something new and worthwhile. There are ways to increase one’s financial IQ when one is stuck in traffic.

 

 

Image by Geekwire

Image by Geekwire

Read e-books that talk about business

There are hundreds of downloadable documents, magazines, books and piles of information available online. They dwell on investing, saving and money management. Use the leverage of technology and time to help you get smarter than a fifth grader.

Listen to a podcast 

Phone applications are way more popular now and podcasting is gaining prominence even among the nondigital natives. There are free programs available and all you do is look for “Personal finance” and subscribe. This is a free source of information to sharpen your thoughts and enhance your ability to make decisions.Listen or watch YouTube tutorials

WE are in an era where modern technologies, like the Internet, are readily available. Use these free resources to help you build a solid foundation in expanding or broadening your horizon in terms of finances. Though these are free sources of information, they do not necessarily suit you best. Filter what you hear and apply those that fit you best.

Write your thoughts about your finances

Financial products won’t solve 100 percent of your problem in finance, but self- awareness is going to free you from things you don’t know about yourself.  Take notes or type your ideas in your laptop. Have a broader view of what your finances will look like this year and of the breakthroughs you expect to happen. Make the necessary adjustments to handle it.

Image by Imore.com

Image by Imore.com

Download an app so you can monitor your finances

One good thing about these applications is they help you evaluate your finances. I love numbers, since they don’t lie. They tell you something. If you see that your budget is in jeopardy and begins to get out of hand and way beyond your weekly limit, learn to cut your wants and prioritize your needs.

Check web sites on personal finance

Financial web sites are effective in spreading new stuff about practical applications and the principles behind the popular blogs, articles and quotations should inspire you to be resolute move forward.

 

Image by Instagram

Image by Instagram

Bring a book

This is my personal favorite. Business books give me a sense of accomplishment. I can highlight the important points and prevent my phone from draining its battery. The books you need to read should relate to personal finance to increase your IQ and your financial awareness.

Excuses can make you weak. Never fell into that trap. Traffic can prove worse in the coming years, but I also believe that if you want to make some progress in your life, career or personal finance, change your mental perspective and, perhaps, do the unthinkable.

This was also published in BusinessMirror

Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

 

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

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What to do with excess funds after kids graduate?

Image by Assets.nerdwallet

Image by Assets.nerdwallet

 

Congratulations!  As a parent whose child has just graduated from college is an accomplishment you should be proud of. Alas!  No more fees and bills to worry about and you have excess funds or you have enough money to sustain you in retirement. The majority of Filipinos today, once their children finish college, splurge on things they cannot afford just to celebrate. They use credit cards to make sure everything is accommodated. This is just bad consumerism. This gobbles up even your future savings and prevents you from investing more.

 

The following are ways to maximize the deployment of excess funds after the children complete college and one retires in comfort.

Explore new heights—If you still have children in college or high school, look for more opportunities to increase your income potential by developing a business that is sustainable. I know it’s complicated, but remember to do some risk management by studying the market, or join a trusted existing MLM company and look for a franchise that works for you. I know it sounds odd, but if you want to increase your earnings, you have to take risks and step out of your comfort zone to avoid losing. The worst thing in life is living with regrets.

 

Start fresh—If you are the breadwinner and you did your fair share in supporting your siblings, you need to make sure that you have left something for yourself, as well. At this point, commit yourself to changing your financial status and get into the fast lane. If you don’t have savings yet, and an emergency fund or the value of insurance is not enough, prioritize them by developing a habit of putting money to your bank in a bimonthly basis. Sooner or later it will grow. Once you are secured and established, your next challenge is to focus your attention on investing.

 

Prioritize your emergency funds—When you are single and you have no one to support, that’s better. Make sure you understand how much you earn and spend accordingly. Base your monthly emergency fund with the way you spend. Look for opportunities to make your money grow, like investing in real assets instead of spending it on the newest gadgets and the latest fashion. Perhaps, you can invest your money in a business that’s close to your heart.

 

Pay all your debts—You will always be the slave of the lender if you don’t pay your debts. The interest rate will compound and the more you delay payment, the more it eats you up. The various financial products won’t help you thrive if you are buried in debt.

 

Invest in yourself—Your decision reflects your value system. Fix, update and constantly upgrade your financial I.Q. It will help you last another decade.  Attend financial seminars. Buy books on personal finance. Read up and follow the best bloggers on personal finance you can find.

 

Give yourself permission to fail—You got an excess fund that you can use, the great thing about that is you get more options compared to yesterday. Remember that all kung fu masters were once students themselves. They kept grinding and exercising their talents. They never stopped even after they stumbled but learned through the process. Many people are afraid to fail. That’s normal. But if you don’t fail no learning happens.

 

Get your act right—Try to do everything to maximize every single peso and it will surely payoff. When you are faithful, I know you will receive more.

 

This was also published in BusinessMirror

 

Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

 

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

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Why employers should adapt financial-literacy program in the workplace?

Employee Benefits - Chart with keywords and icons - Flat Design

Employee Benefits – Chart with keywords and icons – Flat Design

OUR employment rate as a nation is currently at 94.20 percent, according to the labor force survey done by the Philippine Statistics Authority. PricewaterhouseCoopers estimated that 75 percent of millennials will be part of the global workforce by 2025. This generation is getting impatient with the normal work routine and usually hops to other companies due to the “greener pasture” mentality. Millennials are very creative when it comes to information-technology (IT). With the existence of more than 700 IT-business-processing outsource (BPO) companies in the Philippines, only 1 percent of the industry is providing retirement solutions or any related financial-literacy program to their work force.

The most common benefits of employees today, in the private or public sectors, are paid leaves, paid holidays, life insurance, 13th month pay, profit sharing, yearly bonuses, and health and wellness program.

Very few employers are giving retirement incentives, and believe it or not, that big lump sum will not also suffice for an employee since that money statistically can be wasted away easily because of poor financial habits.  People’s lack of self awareness and self discipline will not get things done and the big pay day won’t last due to overwhelming distractions offered by the different shopping malls in the metropolis.

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There’s a big gap between the recent survey of literacy rate that we have as a country at 97.3 percent and the prevailing financial literacy rate. The Asian development bank revealed in its study in 2015 that the Philippines does not have a countrywide strategy for financial education. In contrast, Indonesia introduced its public strategy in 2010, while India started in 2012.

Executive Director of Investors in People Gerry Plana FPM confirmed that “some organizations were having 50-percent attrition rate and that number is totally alarming. If that continues, you are killing the company fast.” You need to have a sustainability strategy that focuses not only on profit and purpose, but also a strategy that empowers your employees.

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He added that organizations must create an engaging workplace since almost all industries are toxic.  With the stressful environment in the workplace, it’s not only enough to give money as compensation to the workers. Companies must guide workers by providing them and their family opportunities to invest in the future, as well as for their children.

Creating a program within the workplace or hiring a Registered Financial Planner can help lessen the prevailing financial literacy gap. Sooner or later, these young people will have a family of their own. Being financially literate will have a positive impact on society as a whole. Empowered and equipped workers give an advantage to the bottom line of any company, in particular, and to the nation, in general.

As of the moment, the most common concern of an employee in terms of finances pertains to retirement. A collaborative research made by Bank of America and Merrill Lynch in 2015 showed that workers responded very well when they get empowerment programs like personal finance literacy in the workplace. Offering financial solutions can help improve business with increased employee satisfaction. This helps make employees become loyal, and productivity, as the study found out, could go as high as 91 percent. This definitely contributes to a healthier bottom-line.

The study also found out that if employees are not stressed with their finances, they are more engaged at work. This way, productivity can be doubled. No one can deny the fact that employees with high morale at work are more productive. 

The autonomy to make decisions base on their financial situation gives workers a boost in self-esteem. Employers will also be happier if they can retain their productive employees by giving them powerful financial literacy programs. Attrition rate will go down when workers enjoy their workplace where they are being given powerful financial- literacy knowledge.

The change that this nation needs could begin in the workplace. Every company not only wants to survive but also to thrive.  This is why good employers must create a sustainable strategy to retain good, productive workers. If you want to have an outstanding organization, invest in your people.

This was also published in BusinessMirror

Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

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Financial Strategy for Passionate Travelers

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Travel is one of the best ways to learn. You get to see and explore places, experience cultures, feel adventures, meet interesting people and get to know more of yourself in every journey. I got fascinated by postcards as a child, and I promised myself to get to these places when I found a good job and started earning money, which I did and still do.

We can’t deny the fact that travel costs us our hard-earnings but it won’t necessarily be, only if we know how to budget, plan, and spend wisely.

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The more we travel the more money we need to sustain it. This is the thinking that hinders us from fulfilling our dreams to see the world, which is absolutely true. Some thinks they can’t afford it because of their income level. Some believes that working very hard at young age and travel when rich is the most suitable. But the questions are; when are they going to be rich and start to travel? By the time they are rich; do they still have the energy and enthusiasm to explore? Travel doesn’t define how much earnings we do nor knows age, for it applies for people who have greater view of the world.

 

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The only differences are the enthusiasm and energy. Most people who travel on budget at young age take the most out of their journeys due to minimal limitations. They have all the energy to move everywhere on foot and do almost everything out of nothing. They experience the most adventures!

I have been traveling both domestic and overseas for 8 years now to earn experiences and memories that will last a lifetime. Memories that will make us smile reminiscing, when our knees can no longer endure long journeys. I did it, and so can you!

 

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I am writing this blog to help people set a better planning with their finances for travel funding to fulfill their dreams too. I also share my strategy and formula backed by some financial research I did few years ago which I proved myself to be very effective. It only needs control and determination to save the target funds we need.

 

Income vs. Expenses

Income – Expenses = Remaining Funds

Income is the money obtained through employment, business and other assets.

Expenses are the outflow of funds from income which includes all sorts of bills, food, shelter and other liabilities.

Remaining funds is the difference between income and expenses.

 

Remaining Funds

%20 Savings

%10 Investments (Stock Market and etc.)

%10 Emergency Funds

%60 Travel Funds

Example:

Assuming I only have 1 source of income through my employment earning 20,000php a month.

Income = 20,000php

Expenses = 11600

  • Electric Bill = 1500ph
  • H2O Bill = 500php
  • Monthly Allowance = 5000php
  • Cable = 600php
  • Food = 4000php

 

Income – Expenses = Remaining Funds

Remaining Funds = 8,400php

  • %20 Savings = 1,680php
  • %10 Investment (Stock Market and etc.) = 840php
  • %10 Emergency Funds = 840php
  • %60 Travel Funds = 5040php

 

I have 60,480php accumulated by the end of the year for my travel without compromising my savings and other necessities.

 

Disclaimer:

The information above related to finances are based only on my own understanding of the books I read, I researched and formulated a long time ago, which I applied to myself and proven to be successful for travel funding in the past 8 years.

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