Financial Minimalism

In  2020 I wrote a lot of things about Minimalism and Financial tips on how to save money.  Listening to real financial adviser really help us achieve our financial goals despite of pandemic. As I try to continue on this topic I would like to share the following steps that i personally use to improve my financial situation.

Saving is a priority
IN COME-SAVING=EXPENSES. When you put priority on saving and make your budget adjust to you it will help you in the long run. 
    
Many of us know this formula but if we are not kin to save and listen to financial adviser we always save what was left after paying all our expenses and often time we end up saving nothing. We tend to postponed saving money because we live YOLO (You only live once) Thinking it is ‘fine’ and will do it next payday until next never comes. 
      
NOW

Many Financial Adviser (Chinkee Tan, Vince Rapisura, Wealth Arkhi, Marvin Germo ect..) has mentioned in their respective youtube channel that the best way to save is NOW! We postponed our savings for various reasons, until we forget and lost time and the moment we realize it time, money and situation is no longer at our advantage (old age, lost job and ect…). We end up regretting our doings, and our self pity grow. There is no perfect time, place  and season for savings and investment. The earlier the better!

 
Tracker
From January 2020 to December 2020 I successfully (and finally) was able to track my expenses up to the last penny and I am proud of my-self! (yahoo!!!!). I wrote my tracker in excel and save it in dropbox this way I can access it in different device.
      
In my tracker I put not just the money that I spend but also my earnings from regular (8-5 job) and other source of Income. Finally I can evaluate my 2020 IN/OUT money and I am excited to make a separate blog on this regard and how does tracker help me with my budget as well.

Auto-saving/deduction
Many of us has really very demanding workload, that we end up doing just minimal (what I mean by that is, sending money for only what is needed) that we forgot doing the extra like paying our invest and ect… But if we do auto deduction will save energy and worries. We only have to see to it that our main bank has money to do the auto debt.
 
I remember when Mr. Chinkiee Tan mentioned that he has 4 accounts as he explain auto debit. Mr. Vince Rapisura also mentioned that he has 4 MP2 with different purpose. This strategy has helped me in a way that I can have accounts intended for certain purposes.
 
Taking advantage of low price (gold, stocks & investment)
Many people panic because of the pandemic. Many panic because their stock got too low, many sold it before it will go down further. Others withdraw their investment because they failed to have emergency funds. 
    
I like it when FA always do emphasize of having Emergency Fund before you invest. I really makes sense if you try to think of it specially if you have emergency like loosing your job, hospitalization and ect… Your emergency fund will help you not to withdraw your savings and investments.
 
Legitimacy checking
People are easily pursued by scams simply because they are too emotional whenever they invest. They get to excited with offers specially if its higher profit than banks, they only see the $$$ and not properly evaluating if they are legit or not. For me going through the terms and condition and other legalities is a precautionary measurement to safe. 

Living within your mean is not a solution, as well as finding more source of Income. Like what many FA would say 'Its not how much money you earn, but how much money you save'. My advice would be simple 

"Live minimally (dosent mean your depriving yourself that is never a minimalism in my own dictionary). Save and Invest" lastly let me live to you the quotes from Dave Ramsey to ponder.

“We buy things we don't need,

 with money we don't have,

 to impress people we don't like.”

Thank you for reading and i hope you learn something from this blog!

Life lesson i've learn from corporate world

I started working in Corporate world at the age of 19, literally 6 months after college just like how the many Filipinos does. My transition from College to Corporate world was exciting because i find myself having so much to explore and my freedom has been loosen a bit. But what really i have learn from Corporate world after 13 years. Let me share to you few points of my corporate world lesson and i hope you will learn as well.

1. Mind your own business

I thought that in corporate world everyone is already matured and they can handle and present themselves very well but i was wrong. Many employee has has personality disorder and very stress at work, yet they cannot resign because they have financial obligations with-it they end up becoming the person they hate, they gossip about their fellow worker and find flaws of other that reflect them. The sad thing about it is they are not aware that they are doing it, or even if they are, they tend to believe that what they are doing is correct and refuse to accept corrections. They become too proud of themselves!

2. Stay away from those who gossip

Wither your inside the corporate world or not, avoiding those gossiper will save you million tons of stress. This kind of people would often use line such as "Let me tell you something, but don't tell anyone", "tell me and i wont tell anyone". This kind of people are the exact people that will spread those information like wildfire. 

Be careful and stay away from them.

3. Caution to what you share

House of Representatives is my 1st corporate world after college under the program of USAID-GEM. If there is one lesson that i have learn from this institution is to share less about your personal life specially to the people that you work with because they may turn to be your enemy at any given time.  

As they say, "work, get paid and go home" by following this mantra you will feel less stress about your work and officemate and going home will always be exciting and a new world for you!

4. Have life after work

Many of us work 8-5 and many of us still answer our phone after leaving the office. If its not always then its fine, specially if its emergency. But if even after our working hours our mind is still at work then i think you have to have your life after work. 

Life and work balance will help you attain good productivity and will make you feel excited and always looking positive. Otherwise if the work becomes your world, then who are you when you lost it?

5. Save & Invest

Salary hook us, it becomes our dopamine. Many of us set aside or even forgot to save money and invest that we stay as employee for a very long time, sometimes we die as employee. 

For me this is something that i want to improved in myself. Having another source of income will help you work at peace. What i mean by that is, even at the most secure job, we experience layoff. If we have saving and investment will be able to handle layoff and termination in a proper manner, we wont be in a hurry to find immediate job and accept very low job offer. We will be able to push forward our value and skills and be able to set good offer.

I was once layoff in my 7 years plus company and for me its really heart breaking, however instead of rushing finding a work, i went back to my home country, take rest for 11 months rest while building my dream place and arrange some investment for my self and future. If ever i will lost my job again i know that i can handle it even better this time because after that heart breaking experience i have educate myself towards saving and investing even more, thanks to various books and educational videos that teaches us on how to handle our finances.

6. Don't be too emotional

At work we often experience that our boss will feel bad about us and will say worlds we don't deserve. If its purely about work or your poor performance don't take it too personal nor be emotional. But also do not tolerate below the belt remarks. Handle it professionally that after you left the office you are in your new environment and be happy.

7. Maintain good communication

We may end up in a company, but it doesn't mean that our connection with the people we work with will end too. I always believe in valuing the people the people who are genuinely good on us, and we are good with them. Keep in touch, and say hi & hello. They are all part of your life. 

So what about you? is the job that you have keeping you up? What lesson have you learn?

(Photo not mine)