Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
Don't just save your money, learn to invest. Savings and Investing are two different things. This is how you know the difference
It's not about how much money you make. It's how you save it. Form the habit of saving by repeatedly doing it until it becomes second nature.
Regardless of your age, if you are planning to retire at any time, it is important to save today, save consistently, and save wisely.
Pay yourself first! The concept is simple:
Every payday, the very first thing you do is set aside
Pay Yourself Formulas
Income - Savings = Expenses
Income - Savings & Investments = Expenses
Income - Savings & Tithes = Expenses
Income - Savings & Tithes & Investments = Expenses
Are you investing wisely?
Warren Buffett said, "Someone's sitting in the shade today because someone planted a tree a long time ago."
First, never get into something you don't understand. Is there a friend inviting you into a business you know nothing about? Think twice and thrice and four times before jumping in. I'm saying this because I've seen many that have lost their whole life savings and retirement fund. After all, they got into things they didn't understand.
Second, never put your life savings into high-risk investments. If you have negligible funds that you're prepared to lose, then go ahead. Practice due diligence. Due diligence simply means doing your homework and finding out which statements are opinions and which are facts. Beware: Too much due diligence is also called "Analysis Paralysis."
Third, seek and choose your mentors wisely. If you seek wise counsel, you multiply your chances for sound decisions.
The Bible says in Proverbs 15:22, "Plans fail for lack of counsel, but with many advisers, they succeed."
Small sacrifices go along the way! All the hard work. All sacrifices. All the sleepless nights, struggles, downfalls, it all pays off.
Cheering on you! Stay safe and healthy! God bless!
To a better you!
9/23/2022 04:53:19 am
Hello, what are the best investments for first-time investors? Could you suggest? Thank you!
Question: What are your financial goals?
10/18/2022 10:23:53 am
Hi, I would like to have your idea. I'm earning six digits per month (tax already deducted).
Yes, The bank interest rate in a savings account is low (Gross Interest Rate Per Annum 0.0625%, as of October 19, 2022—based on one of the big 3 banks here in the Philippines), plus it still has a tax. Inflation is also a factor here.
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.