Category Archives: Financial Coach

Clench fist financial planning

A clench  (close)  fist in the area of financial management is full of greed that tightly held so that those precious funds (moolah) will never get away. The close fist represents someone who doesn’t know how to give. They think that if they hold those money so tight they think that they will reach financial freedom. People who don’t give because of shortsighted misunderstands how this so called money works. These folks are so weak and insecure, they believe that they get more by hoarding and gripping those funds.
The problem with clench fist financial planning ARE:
1. It is born on weakness 
 Maturity shows up when you don’t clinch. When you try to open your hand that means you are starting to open up your mind. It is also a gesture of invitation and acceptance. Dave Ramsey said  “When we are scared we fight, clench our fists and prepare for battle because we don’t have the perception or position of strength to avoid a fight. So while a closed fist is a sign of battle it is born of weakness.”
2. Insecurity is the motivation
There are many people who don’t give because they felt they don’t  have enough. The money they think they have right now will not be sufficient at all. Giving is a counter intuitive approach.  Open hand is NOT part of the vocabulary.  They let this clinch fist tactics to make their insecurity stronger than ever. Me, myself and I is the anthem of this people which is unhealthy at the long run.
3. Against Biblical principle
When you hoard too much, you exercise your free will  a lot. But, you were created to give something in the first place.   Giving is motivated by grace. Your capacity to give has a spiritual connection too. Remember that in relation to (Gal. 6:10) So then, while we have opportunity, let us do good to all men, and especially to those who are of the household of the faith. This passage shows  that we have no right to hoard money or possessions when we are aware of others in legitimate need. Once you are in clinch fist that means there’s an issue with stewardship. This principle applies to the Body of Christ, since we are part of the  family of God and we are consider as brothers and sisters of each other–and also to the non-Christian poor. 
4. You will surely stinks    

When you don’t take a bath for awhile your nasty odor will surrounds the whole place. It will be devastating for your friends, colleagues or strangers to be around you. Swamps are characterized by slow-moving to stagnant waters. When you hold that too much water without releasing it imagine the toxic waste that’s accumulating inside it this will make you stinky than ever. Clinch fist money management will help you become worst and not achieve financial freedom.
5. Financially imprison

Many people wants to experience financial freedom but still imprison with poor money mindset. You are in chain if you follow this rule.  Way back World War 1 and 2 there were many people who gave their lives to their country for the sake of freedom. Giving is one of the major reason why we are free today.  Break free from those money myth and you will achieve a higher purpose why you need to open your hand.

When it comes to financial planning and wealth building habits we need to be aware how to let go of the financial myths and renew our mind with new set of rules. 

Getting personal
1.      Can you describe your ability to give today in the aspect of Money, Time, Talents.
2.      How many percent do you normally give to the non profit organization like church, charity or orphanages?
3.      Do you have a budget for giving (Benevolent fund)? Can you justify why do you give the way you give?
4.      What are your action plans to prevent the clench fist money management?
5.      Where do you see yourself in the aspect of giving after a year?


David Isaiah Angway is a Financial Evangelist

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Filed under Financial Coach, Financial Planning

Winning financial formula for everyone

 


Image by askmen


Every one is designed to win, wants to win and end up being a winner. Financial problems have simple solutions but that doesn’t mean it is an easy battle. Living your life should be exciting but sometimes you got knock down. With the right amount of knowledge, skills, and attitude you will be back on track.
1.   Get a financial coach
In a generation that is full of information it is easy to get distracted. You badly need insights from someone who can understand and willing to work with you in order  to improve your behavior so you can reach your goals. The end goal of a coach is to simply improve  the clients performance in making sound financial decision. The client will be held accountable for the results of their financial health.   Whenever you watch  Weight watchers and Biggest Loser, those  reality shows have been successful because  of a lot of grind in the  process and change in mental state of the contestants. After the coaching sessions  you are expected to win long term not just for a couple of weeks because the coach was able to empower you with knowledge and equip you will great tools in making your dreams come true.
2.   Manage your cash flow or budget
If you do this everyday or every week am sure you will win long term. By monitoring your behavior and making some action plans after you see the evaluation of your spending pattern it will help you to move forward. Many people are stuck and don’t know what to do with the money they earn, they thought saving some portions of it is the end of the story. What they don’t get is they also NEED to manage the expenses. When you let the expenses overtake your earnings sooner or later you will be in slavery mode (Debt). But if you let that money be in its proper place you are in a good hands. Treat your money like a soldier, if you will place all of them in a war against your old habits (enemy) you will lose a lot of them.
  
3.   Get an Insurance that suits your needs
Many people still don’t see the value of insurance. In a country that most of the people are hardworking but have a poor financial literacy program it is really sad that they can’t see this as a goldmine. You need to get an insurance to secure the needs of the people that you love. If you don’t have a love one then don’t get it. Every body is going to die and you need to prepare for it. I recommend  you to think long  term and know your value. If you are worth 10 million today then get a 10 million or more coverage. Don’t just get one, ask from your insurance agents the things that you need to know or else they might not open up.
4.   Write your will
Imagine  that you have an establish career, your cash flow is good,  you got an insurance and thriving investment together with a happy family but what will happen if you leave the Earth without a will?
If you don’t have a written will and you have so much assets that you have when you die, a complete stranger will decide how to split the  estate  under your name and your love ones like your children will suffer because of that. You are the one to blame if you will mismanage it. Talk to Registered Financial Planners for more info about this.
5.   Revisit your career plan
Planning still the best way to prepare for the worst. Every year should be an exciting year. When mediocrity strikes you then you are setting yourself for less. . Domino effect will happen and you will end up unproductive. Your employer won’t think twice to kick you once your performance drop to the lowest level. Business is business and it will be better to let go of you.
The advantage having a career plan is you got a road map on how to climb up that mountain of road blocks ahead of you. Career choice starts within you not from your boss. You need to write down your skills set that will match to the next job that you have. Pray for divine intervention everyday because it will be a tough decision. You  either might resign and look for the job that you really want or stay within the same company but look for a higher position. Changing your career will also have an effect with your cash flow so you need to think and weigh in things for you to grow.
6.   Have a business.  
Being an entrepreneur needs a lot of commitment. But if you are dedicated to grow more with mistakes and not regrets having a business is a gateway to your success. Grinding and pounding to your next sale will help you get out from living from paycheck to paycheck. Everyone is not cut to be an entrepreneur but you need to think like one. You have crazy abilities. Know yourself and grow it.
I noticed that all billionaires are businessmen who started from ground zero. With your effort, passion multiply it with a really good attitude will help you go on a long way.
7.   Build your  retirement  plan
Study shows that more people once they retire from work are expecting a lot from Social security but according to the statistics, GSIS and SSS cannot sustain the lifestyle that you want. Now, if you want to live comfortably try to make a better choice. Build it brick by brick thru putting your extra funds  in a good pool fund or put it in a stock market with a combination of peso cost averaging multiply it with discipline your money will grow exponentially.  
Our economy is growing plus the pooled funds are doing really well. If you start with 5000 and every month you keep putting the same amount. Historically the equity funds can give minimum of 12% annually. When you do this for the next 30 years you will accumulate 8,258,577.94 regardless of the currency. With the compounding effect PLUS with time and value of money this will roll over and I think you can already live with a retirement in a decent way.

Image from Dave Ramsey Website Financial Calculator

David Isaiah Angway is a Financial Evangelist

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Filed under Business, Financial Coach, Financial Formula, Retirement, winner

Do you have a Masters degree in Financial Procrastination?





Have you ever tried to plan in doing a lot of things before but it seems like you have this struggle with laziness? Haha. I was one of those people before. I am still a work in progress till now especially when I am so distracted and never focus on my goals.
Breaking up with a bad habit especially in finances is like breaking up to a bad girlfriend that consumes your time, effort, energy and money. Sooner or later you will realize that it is totally worth it.
There are habits in our life that we need to admit and we need to let go so we can experience growth. We need to graduate from the following habits.
1. You got tons of excuses why you don’t have savings or investment account.
“Time is gold” whoever said those words knew exactly the value of it. In this lifetime you will earn millions but you have limited time. Get serious with your finances and start now in changing your habits and behavior. Excuses will make you weak. Pride will bring you down.
2. You have so many extra curricular activities and you put the savings and investment as the last of your priorities.
Our ability to discriminate things from the highly important goals will give us an advantage from other people. There’s no problem in going for a long vacation, buying a new car, getting a new gadget or treating your friends to a bar. But remember to manage your finances first or else  activities will manage your finances? What would you choose?
3. You made a promise at the start of the year that you will start investing but till now you never even started choosing what kind of investment you will enter.
How many years you’ve been planning for this to start? Stop thinking about it! Like what the company NIKE said “Just do it”. Do your due diligence. Research, ask, save, invest and do it again and again till you get used to it. Momentum will overflow. Many successful people are known because of what they did not because on what they know.
4. You just plan to have your budget then fail to apply it.
Putting it in a paper is like the the first step but it will take series of action before you achieve your goals. Putting it in paper will not make you win.  Finishing it thru compounding action will make a difference.
5. You planned to pay for all the debts that you have but fail to pay even the minimum of your credit card that you owe.
Let us admit, there is a global pandemic about debt mismanagement. If there’s a medicine for procrastination in paying debt i think many will subscribe or have a lifetime maintenance with it just to simply cure that part. Commitment is something that needs to be enhance. Your ability to discipline yourself and pay for your debt and save money will free you from financial procrastination
6. You are still wondering how come your money don’t last till the next pay day.
Yes it happened again? You  failed to do your assignment. Have some written vision and goals.  Do the budget. Write it down or put it in an app so you can monitor your progress. Seeing whether your growing or not will give you an idea where to make necessary adjustments.
7. You keep on buying in E-commerce thinking that you will earn because of the discount that you are getting.
What you have is a Wrong mindset! The site design was to simply earn from people with the kind of mentality that you have.
Buying in an e-commerce site will not give you savings but will encourage you to get more items and pay more resulting to a rewarding program into your brain called buying endorphins while your pocket or bank account  is having a lot of pain.
Forming those habits is not an overnight process and changing it will take time too. You might be in a season of pruning right now where you need to unlearn a lot of crazy beliefs inside your head. You should graduate from that procrastination by simply doing baby steps after baby steps. 
Pro 22:3 A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.

David Isaiah Angway is a Financial Evangelist



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Filed under Behavioral Finance, Financial Coach, Financial Literacy, Freedom, Understand Us, Victory Over Finance, You Can Make It