So Marami Kang Utang.......Bakit Kaya?

This is how clear your mind will be if you are able to erase all your debts

Your ambition of erasing your debts will be as high as this mountain but it's worth it!

Eager to achieve financial freedom? Me too, has that kind of dream. I grew up poor and lack the mentor luck as they say, as well as the opportunity to better my life. As I struggle from one work to another, I see no hope of ever ever improving my life. I see life as an aimless venture, like a driftwood that goes from direction to direction, as the waves of the sea lashed at it. There seems to be a lack of people willing to help you out without getting something in return, mostly things that will cause you to regret it for the rest of your life.

But as Malala would say recently, they can only shoot a body but not my ambition. So I strive. Until I got the opportunity to finish my education, got a job and worked to rise from the ranks. I can say that my life now is much much better than from my life while I was still young. But deep inside I still long to better my life even more. So I looked and looked around for more opportunities.

From the many financial educators, I came upon these formula: Income-Savings = Expenses. Which means save first before spending. Most employees are deep in debt mainly because they start on credit. When the first salary comes, it most often is not enough to pay the advance expenses. Which is understandable. I have been in that road before, and sometimes even now. Ang hirap kaya nang may pinapaaral.

Bo Sanchez's advice is this: If you can't afford it now, don't buy. Many of us (yes, us, including me!) in our eagerness to have this gadget or that signature clothing, would have it by hook or by crook. So we incur loans, use our credit card and in the end, find it difficult to ease out of the financial burden. The experts advised about lessening our expenditures. We can start at home. If our practices causes us to have a monthly electricity bill of 3,000 or more, they perhaps we can save electricity by minimizing the use of airconditioner (init naman!), or minimize eating out at costly restaurants. In that way we can save more cash for other deserving expenditure. Hirap naman!, you might say. Well, sa umpisa lang naman yan mahirap.

Bo Sanchez and Fitz Villafuerte-another highly regarded financial educator urged us to budget our income using the envelope system. You can allocate money to go to food, bills, savings and other allocation. Bo Sanchez emphasized on the need to allocate 10 percent to God as tithe. Di ba worth it kung mag laan ka naman para kay Lord?

Another thing to avoid is impulsive spending. Nakakita ka lang ng magandang blouse, bili agad kahit wala sa budget. Nag sale lang ng mamahaling panty, bili agad ng sangkatutak kasi baka di na maulit. Hayun, nagkakautang ka tuloy.

If you wish to have more tips on how to improve your lot in life, visit these links:

      www.readytoberich.com by Fitz Villafuerte
      www.eskapology.com  by Jun Orana
      www.trulyrichclub.com by Bro Bo Sanchez
      www.colfinancial.com   an online stock investing company by Edward Lee

More on this later.