https://www.istorya.net/forums/blog.php?212807-Money_Guru en Wed, 20 May 2026 15:02:31 GMT vBulletin 300 https://www.istorya.net/forums/images/metro/blue/misc/rss.jpg https://www.istorya.net/forums/blog.php?212807-Money_Guru https://www.istorya.net/forums/entry.php?2386-Get-Motivated-Start-Solving-Your-Financial-Worries Tue, 22 Jul 2014 06:17:05 GMT “A journey of a thousand miles must begin with a single step.” – Lao Tzu I know you’ve probably heard or read this line somewhere before. It can be interpreted to fit millions of other situations or problems and can sound cliché - but like solving every other worry we have in our lives, I believe that the first thing we have to do (before anything else!) is to actually want to solve the problem. If we don’t motivate ourselves to solve our problems, then we won’t get anywhere with them because we haven’t even started with them in the first place. We’ve all had our worries about life- whether financial, social or emotional- but I’d like to focus on helping you *stop worrying* and *start solving* your financial stress. I’m not some money-making machine and I won’t be giving you specific tips on how to make thousands of pesos in just a few weeks. However, I will try to inspire you, at least. I hope it generally works. Here’s how I think you should get motivated: *1. **Determine where you are now * Identify where you are in your financial state. Are you hanging on the edge by a thread or do you have just enough to live by? Be honest and don’t start denying things. Take a sincere look at yourself and your life. See if it needs improvement, and see if you need a big change. The sooner you know where you are, the faster you’ll understand how much you want to get out of there! *2. **Decide where you want to be * Now that you know where you are in life, sit down and contemplate and seriously decide where you want to be from now on. Give yourself a timeline. Imagine how you want to be in 1 year, 3 years, or even 5 years! Do you still want to worry over the same financial things that you’re worrying about now? I don’t think so. Enumerate the things you want to stop worrying about and be specific about it, like your electricity bills, water bills, etc. Maybe you want to start your own business? Think about getting a business loan (http://www.loansolutions.ph/business-loans). *3. **Distinguish between your wants and needs * This is very important. Now that you know where you are and where you want to be, evaluate your current lifestyle and understand the difference between your own wants and needs. Start with yourself- because you may have other people depending on you, but the number one person that you should learn to trust the most is yourself! Sort out your own priorities. What is your salary really for? Maybe buying a new cellphone isn’t something necessary at the moment. Consider getting a (http://www.loansolutions.ph/salary-loans)salary loan (http://www.loansolutions.ph/salary-loans). This will really help you decide how you want to solve your financial worries. Be practical and start thinking with a mindset that you should be controlling your money- not the other way around. *4. **Stick to a Budget, Save, Invest! * Having sorted your priorities, make a realistic budget for yourself and track your spending. Start saving what you can, and learn to appreciate the importance of wise investments. I highly recommend reading KuripotPinay (http://www.kuripotpinay.com/), a very relatable blog and how we can all take small steps to saving money. It has inspired me to want to inspire you. Get motivated and take the first step! Comment below and let me know your story on getting financially motivated. I would love to know your story. “A journey of a thousand miles must begin with a single step.” – Lao Tzu

I know you’ve probably heard or read this line somewhere before. It can be interpreted to fit millions of other situations or problems and can sound cliché - but like solving every other worry we have in our lives, I believe that the first thing we have to do (before anything else!) is to actually want to solve the problem.

If we don’t motivate ourselves to solve our problems, then we won’t get anywhere with them because we haven’t even started with them in the first place.

We’ve all had our worries about life- whether financial, social or emotional- but I’d like to focus on helping you stop worrying and start solving your financial stress.

I’m not some money-making machine and I won’t be giving you specific tips on how to make thousands of pesos in just a few weeks. However, I will try to inspire you, at least. I hope it generally works.

Here’s how I think you should get motivated:

1. Determine where you are now

Identify where you are in your financial state. Are you hanging on the edge by a thread or do you have just enough to live by? Be honest and don’t start denying things. Take a sincere look at yourself and your life.

See if it needs improvement, and see if you need a big change. The sooner you know where you are, the faster you’ll understand how much you want to get out of there!

2. Decide where you want to be

Now that you know where you are in life, sit down and contemplate and seriously decide where you want to be from now on. Give yourself a timeline. Imagine how you want to be in 1 year, 3 years, or even 5 years! Do you still want to worry over the same financial things that you’re worrying about now? I don’t think so.

Enumerate the things you want to stop worrying about and be specific about it, like your electricity bills, water bills, etc. Maybe you want to start your own business? Think about getting a business loan.

3. Distinguish between your wants and needs

This is very important. Now that you know where you are and where you want to be, evaluate your current lifestyle and understand the difference between your own wants and needs.

Start with yourself- because you may have other people depending on you, but the number one person that you should learn to trust the most is yourself! Sort out your own priorities. What is your salary really for? Maybe buying a new cellphone isn’t something necessary at the moment.

Consider getting a salary loan. This will really help you decide how you want to solve your financial worries. Be practical and start thinking with a mindset that you should be controlling your money- not the other way around.

4. Stick to a Budget, Save, Invest!

Having sorted your priorities, make a realistic budget for yourself and track your spending. Start saving what you can, and learn to appreciate the importance of wise investments.

I highly recommend reading KuripotPinay, a very relatable blog and how we can all take small steps to saving money. It has inspired me to want to inspire you.

Get motivated and take the first step! Comment below and let me know your story on getting financially motivated. I would love to know your story. ]]> Money_Guru https://www.istorya.net/forums/entry.php?2386-Get-Motivated-Start-Solving-Your-Financial-Worries https://www.istorya.net/forums/entry.php?2355-When-Is-a-Personal-Loan-Too-Much Mon, 05 May 2014 06:17:19 GMT How do you assess when a "little" personal loan is acceptable or dangerous.

For many lay people, knowing when and how to avoid a financial disaster or overdraft can be tricky because the clues are subtle. If you plan to apply for a personal loan, or if you are already for one, assessing your debt situation gives an overview of your personal finance and place some frugality measures in place.

10 Hard Questions for Assessing Your Current Debt Situation

Below are the hardest questions you can ask yourself in order to determine if you're treading on thin ice.

Q1: Is the percentage of your income allocated to pay debts increasing?

If you have been using the money tracker ideas I shared, you are keen on how much of your monthly income in % are going for your personal loan. If it has increased over time, you should take caution. If not, then you're doing well.

Q2: Do you have a savings cushion? Is it adequate?

A savings cushion is money you're setting aside to protect you in case financial trouble strikes. It could be for emergencies or as a debt protection measure. If it is non-existent or if you think it's inadequate, try to find an item you can minimize or cut in your budget to fund for it. If this is not possible, then take a note of this possible impediment to be accounted for in your future personal finance decisions.

Q3: Are you nearly maxing out your credit line?

Or maybe you are at the limit? Be cautious of your credit lines.

Q4: Are you paying for the loan through your credit card?

If you plan to obtain a loan and forecast to only pay the monthlies through your credit card or revolving charge accounts, let me tell you outright that it's a bad idea. If you are paying currently for your loan this way, know that you're in a bad situation and should take remedial measures.

Q5: Are you late in paying your bills?

Not a good sign. Late payments usually have penalties which are additional strains on your budget.

Q6: Are you paying bills allocated for something else?

This is a sign that your financial situation is not healthy.

Q7: Are you now borrowing money to spend for items you used to buy with cash?

This is a cause for a pause. Might as well suspend purchase for a later time if possible.

Q8: Would sudden loss of job put you in an immediate financial difficulty?

Always assure source of income before getting a personal loan, or a savings cushion for such emergency as employment.

Q9: Do you know how much you owe?

Are you calculating your remaining unpaid balance every month? Always keep track. When planning to get a loan, get a clear statement of how much you owe so you can budget.

Q10: Have you been threatened with repossessions of your property or other legal action?

This is the surest sign that you're mismanaging your debt. Don't let things come to this. Seek help from a financial advisor or some other professional who can give you financially viable options.
Note that these questions can and will spark your defense mechanism to action. Make the effort to answer each one truthfully without denial. Anyway, only you will know.
These are very subtle clues that our minds tend to overlook and that will prove to be very useful once identified. ]]> Money_Guru https://www.istorya.net/forums/entry.php?2355-When-Is-a-Personal-Loan-Too-Much https://www.istorya.net/forums/entry.php?2353-Smart-Ways-to-Achieve-Financial-Freedom Tue, 29 Apr 2014 10:17:56 GMT If there's one thing all the financially successful people have in common, it's the fact that most of them
have already achieved financial freedom.
They have worked so hard in achieving financial freedom even before they became rich, and they pass
this value on to their offspring. Achieving financial freedom is both easy and difficult because it involves
a lot of sensible decision making in the day to day.


Here are 5 smart ways to achieve financial freedom through your salary loan:


Open a savings account


Saving for the rainy days is deeply rooted in Filipino values. Remember the story of the ant and the
grasshopper? The ant spent all summer saving up food while the grasshopper basked in the sun drinking
his cola. Came the rainy season and the poor grasshopper shivered from cold and hunger.


Moral lesson: Always save for the rainy days which are sure to come. Life is cyclical, and if we are to ride
with the tides, we have to prepare for the difficult times.


Take it from the ant. If you got a salary loan, save some for the rainy days -- for the unforeseeable
emergencies such as health emergencies, accidents, natural disasters, repairs, and other unfortunate
events.


Keep track of assets & liabilities


Keep track of your assets and liabilities. Looking at the two-column list lets you weigh your financial
health. It helps you keep in line with your financial goals, warns you of overspending and consequent
overdraft, and it motivates you to keep tipping the scales to the assets side.


Right now the salary loan you got goes into the liabilities plate because you would have to pay for it
every month. How do you convert some of it into assets to somehow tip the scales?


Company shares


Some companies help their employees gain financial freedom. Many companies offer profit sharing
based on tenure positioning it as a reward for their longest-staying, loyal employees.


Take advantage of these initiatives even if it means cutting a portion of your monthly salary and,
consequently, your budget. Take it even if it means reducing your expenses. Unlike savings accounts which earn a fixed, usually meager, interest rates set by banks, investing in your
company shares has the potential for a higher earning especially if you are in an industry that is
performing well in the market.


Retirement funds


Start planning your retirement as early as now. You cannot work for money forever. Have a plan for a
steady income without working by the time you are at the age you would want to retire. You can do this by starting a retirement fund you will use as your income during old age.


Of course, the size of the fund will depend on how much you will be spending monthly in the future.


Having a retirement fund frees you from worries in the future when you will lose the regular income
from your job. That is one of the smartest ways of gaining financial freedom.


Income protection


Have you thought about what would happen if you were to lose your job or any source of income
today? Can your existing assets sustain you as you are yet looking for another one?


How about if you lose not just your job, but more than that -- life or limb? How will your family fare
without their breadwinner? You might want to think about these worse case scenarios and look for ways
to protect your income.


Income protection can protect and free you from any untoward financial disasters by having a
replacement for your income. Due to the stiff competition, many insurance policies combine investment
and retirement so that when your life insurance is not used, it can be converted into a retirement fund
in the future as it earns in the market today. Look up some income protection products and see what suits you best. ]]> Money_Guru https://www.istorya.net/forums/entry.php?2353-Smart-Ways-to-Achieve-Financial-Freedom