Monday 8 June 2015

’Pag ako yumaman…” is a phrase we often hear from family and friend. This is to justify that all of us generally want to be rich, who doesn’t want to be rich in the first place? We say money makes the world go round because we need it to cover the costs of living. That is why we work so hard to earn and be able to provide the best for our family.


Here are questions you should ask yourself if you really want to be financially-wealthy:
 

1. Do I really want to be rich?
Some people just want to live simply, eating non-luxurious meals, living in a fairly decent small home – no worries.Other people think that it is not necessary to be rich, are you one of them? Some people think that having a lot of money means that you’re greedy because you can have all the things that you need. While some people needed to have more money to secure the lives of people depending on them. It’s your choice; it’s your move that will make the change in your life. The formula is really simple: Focus on your goal; do things that will lead you to your goal and avoid things that will lead you to the other end.

2. Are you doing something to be rich?
If you’re born-rich, you may have a lesser problem than the others. The problem is that it’s not the case for everyone. Most people in the Philippines needed to go to work or start their own business just to survive a day, and to be rich, people should make significant moves to be really rich. If you’re the latter, being rich will not be possible if you do nothing. Increase the channels of your income and make the real move. Aside from your job, you should also have small business, or start saving in a right manner like in a bank deposit or investment.

3. Do you tend to overspend?
The little moves count. The daily expenses define your whole cash flow. If you really want to be rich, make every financial move count. Before you spend on something, will it take a big effect on your cash flow? Overspending doesn’t only mean one-time-big-time-purchases. It can also mean regular, big expenses. For instance, taking a cab every day can cost you around PHP3,000 a month for a regular PHP150 per day in 20 days of work. If you try to reduce your cost by taking an actual commute like carpooling and taking the train, you will be saved from big costs, thus more savings. Always find ways and remember that small moves count.

4. Do you have bad vices?

A certain vice will surely cut your savings – whatever that may be. Aside from effect in your money, it may also have effects on your attitude towards achieving your goals. Most of the time, it could be a hindrance to what you really want to be. Change your bad ways and prioritize your activities.

5. Do you have a financial plan?
Lastly, do you have a financial plan? Do you have a real goal? Financial experts say that to be able to be someone you imagine, be more detailed about your dreams and make visual representations to remind you about it. Talk about your dreams all the time – discuss it with your colleagues, with your family and loved ones. Write it down and read it every time you need motivation. Make a solid plan to make your financial dreams not just a dream, but a goal to achieve, not someday, but soon.

After all the questions asked, do you think you’re going to be rich?

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