ENTRY NUMBER 2: NOT ENOUGH SAVINGS?
Some might say saving money is hard, But when i applied this in my life, everything changed. Not only a was able to sustain my personal needs, I am also able to help others. I learned this from my Father and
Bo Sanchez, with few changes to suit my needs.
This will be a quick one...
Are you ready?
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10-20-70 rule
10% of earnings will go to charity (tithe) - very important, sharing the blessing to others will attract every positive energy in the universe, you heard that right. Giving and sharing allows us to channel the blessings in store for us
20% of earnings go to investments (long term) - for your retirement, this where your long term money goes, remember you will not work for a lifetime (my goodness, it is very exhausting!) saving up for old age is also important, Well .......you see helping others is nice, but you must also love yourself at the same time in able to help them in the first place
70% of earnings go to expenses - yes 70 percent! , by the way this one pertains to Miscellaneous, Transportation, Electric Bills etc.
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well 70 is quite to large right?
i usually put it into 3 parts
1. savings - THIS IS YOUR TRUMP CARD i should say. Aside from your personal investments, this is readily available in case of emergency, Have you experienced situations when you desperately need money when you don't have it? (and when i say emergency it means it's readily available should the need arises).
2. support - for your family, sometimes you need to send money to your relatives and loved ones. (if you're single) this is what i call PADALA (pocket money), like allowances for your kids (if you have your family)
3. misc (daily needs) - personal needs, need not much to say (basic needs: food , clothing , shelter etc.)
Well there you have it, the ratios can be changed, but these i should say give you a balanced management when it comes to your finances.
I hope this could help ....
HOPING FOR YOUR FINANCIAL SUCCESS
WILLIE S. VERIDIANO JR.
WILLIE S. VERIDIANO JR.