5 things we consider before Investing

Investing is putting your money in a certain investment product. There are many ways to invest but we should begin with things to consider before doing it .

1. Educate Your Self 

Before anything else, the first and foremost things we should do is learn the basic in Investing. We can help ourselves by reading financial books, e-books, blogs and even attending seminars about money matter. We should initiate the willingness to learn  and improve ourselves. Learning is free, just give time and open your self to new ideas.

2. Settle Your Debts

Before we put our money into investment we should first be reminded to pay our debts. Because investing is useless  if the interest we are paying for debts is higher than our gains. We need to stretch our budget to allocate portion of our income for paying. After we set aside fund  for our tithes, savings , then the next is for paying debts. It's ok to start slow, The important is, we're moving forward. Discipline and commitment are the keys to be freed from anyone we owe! 

3. Build Your Emergency Funds

Except from "Paying our Self First", we need to set aside fund for emergencies.  This should cover our expenses for 3-6 months. Its our fall back fund. This is very important, when emergency come we have something to pull-out. We can avoid getting into debts if we have this. The money we put in our investment cannot guarantee you an instant return and we should be aware of this.

Life is uncertain, better that we'll always be prepared!

4.  Have an Insurance

Emergency Fund is different from Insurance. There are a different kinds of it depending our needs.  Insurance can provide us protection  from big financial losses like medical emergencies, accidents, sudden death, paying of estate tax . It covers our future expenses that we are not hoping to happen but we should be aware off.

5. Build an Investment Fund

Of course, we cannot proceed to start investing if  we don't have money, right? We must have an ample amount of savings to start with. 20 percent of your income are recommended to keep for growing your money. If we're confident enough and settled the pre-requisite above, then we can start now finding what investment product to begin with.

One way to invest is  through Stock Market. It is a place where you can buy and sell the shares of big or even small companies like SM, Jollibee, PLDT etc. In the Philippines we have Philippines Stock Exchange Inc. located in Pasig City. Investing in this area is a very risky move but it gives you a higher returns of income. It requires enough knowledge and guidance when you dip into this investment.  

      If you want to be guided in investing in the stock market, Truly Rich Club of Bo Sanchez can help you . Bo himself made this program to help aspiring Stock Market Investor. He is an expert mentor in this field and  has net worth of more than a million now . In his program, it includes the introduction about financial management, a baby step on how will you start, a guide on how will you pick the right company, and a bonus of while investing and gaining profit you'll have chance to earn an additional passive income through affiliate marketing. One more is, you'll be able to grow your Spiritual life.  Here is the link to learn about it, just click here.

I was then have no idea about any investment or any thing about financial management. Through internet browsing I was lead to this program. It helps me a lot specially right now that I am starting my career as an OFW nurse here in Saudi Arabia. 

It takes a bold move to change our lives. So might as well, let us educate ourselves Financially!

6 ways to start saving and growing our money

Is there a proper way of saving? We all know that to save is, after we get our salary what's left is the portion we're going to keep. That's the common practice that we are doing, and would you believe it happened during ancient times.

I've read a book entitled "The Richest Man in Babylon by George S. Clason. It discussed the right way of saving your money and growing it, though it was represented as gold in the story. So to know more about it, here it is.

       The Cure for a Lean Purse 

 1. Start thy Purse to Fattening 

      How you'll be able to fatten your purse? Arkad, the richest man in Babylon said that you should "Pay Yourself First". He stated that " A part of I earn is mine to keep". Every salary you'll receive, you should take first 10 percent and set aside as your savings. You'll do this before you pay anyone, This is the right formula, INCOME - SAVINGS = EXPENSES. You have to practice your comfortable ways of "Paying Yourself" and make it a habit. If you continuously apply it every Payday, when the year ends you'll be surprise that its possible and doable. You'll be able to build an emergency funds out of your savings. Start it now. Its never too late. The percentage for allocating your budget may vary depending on your preference. Example are 10 percent for tithes,  20 percent for savings and 70 percent for your living. It's up to you!

2. Control Thy Expenditures

      Preparing your Budget is a necessary thing that you should always be responsible. How will you control your expenditure? It's by identifying your needs over wants. You should list all your expenses even at a very small amount to track where your money go. Some of us complains that our income is not enough but usually the problem is our lack of discipline in prioritizing our necessary expenses. You should learn the art of delayed gratification. If you cannot afford the things you wanted to buy, then let go. Don't compromise yourself to borrow, but instead plan and save to get it. 

3. Make Thy Gold Multiply for a Profitable Investment

       It means growing your money. Saving is not enough because as inflation rises it will just lower the purchasing power or your money. What you need to do is invest. Allow your money to begets another money. We need to learn where to park it, there are many investment vehicle to venture into. We can start a small business or learn a high-return investment like stocks, mutual funds and UITF that will gives us profit. I will discuss further about investing high-return product in the future.We cannot forever rely on our body to do the working. Time will come we'll grow old and need to rest. So we must be sure that before that time comes we already build a profitable investments that are able to provide our expenses and sustain our lifestyle.

 4. Guard Thy Treasure from Loss

      Nowadays, scams are increasing their number. People are very attracted to get-quick-rich scheme. Their eagerness to earn instant big amount blinds them to assess or check the credibility of investment they are joining. There's no such thing as building wealth overnight. If you want to become wealthy you'll take the right pace of accumulating assets that gain profit in due time. In order for you to avoid scams that will take your hard-earned money you should guard yourself with Financial Education. If you have enough knowledge in handling your finances, you can never be fool by any scammer. Take good care of your money and be alert always!

5. Insure a Future Income

      In life, we can never tell what's coming ahead. We don't know if everyday we are safe or have a job and if we are still capable of providing for our family. We must learn to plan ahead, specially if we are the bread-winner. We should insure ourselves, because this will save us from any uncertainties, thinking that we're going to leave our love ones who are not ready to take care of their needs. There are different kinds of insurance that can aid us. Examples are insurance for  Disability,  when you're not able to get back to work, Critical Illness Insurance, that can help you in your hospital billings and  Life Insurance, since death is inevitable, this can provide and leave a huge amount to our family from our unexpected loss. We don't wish any misfortune to happen but we should always anticipate emergencies and be prepared for it!

6. Increase thy ability to Earn

      Learning is a never ending process. We should not be complacent to where we are now. If we are making less, we need to improve ourselves and learn a new ways of earnings. We should upgrade our skills to complement the new trend of making money. It's not about just working hard but it's working smart.  We have  many opportunities to earn, we just need to challenge ourselves to step-out from our comfort zone!

  " Go thou forth and practice these truths that thou mayest prosper and grow wealthy!" words of encouragement from Arkad. 

P.S. If You want a guide in handling your finances and grow your Spiritual life as well   learn from Bo Sanchez, join Truly Rich Club. To know more about it, click here.