Does it take money to make money? People always say that the rich will get richer and the poor gets poorer and the gap gets wider. Every country the Government are trying their best to bring the gap closer by giving subsidies to the poor, providing opportunities and assistance so that they can live better. But we still see poor people everywhere; from dirt poor (homeless) to the just-barely-make-it poor.

Have you ever pondered how the rich gets richer? Or how the poor gets poorer?

continue reading "How to be a millionaire?"

It is a universal fact that it is easier to spend than to save. Human has high level of needs and that is the main reason why we spend more than we save. Statistics showed 1 in 20 of us are unable to control the urge to spend , men and women alike.

It is also true that we spend as much as we earn if not more. There is never enough. If you have been working for 10 years and more, you can make your own comparison.

Assuming that you were earning just $24k annually 10 years ago, you get along fine with your income and expenses and now 10 years later if your earning has increased let say to $60k annually, I am sure you are not just spending $24k but that you probably are spending $60k or even more. If you are spending more then this will equate to the fact that you are in debt.

Conclusion here is, if you are one of those who said to yourself that you will start saving when you are earning more, stop it, because it will never come to that. If you do not have a financial plan in place, each time your earning increase you will have this other thing that you need or something that you are committed to. And “poof” there goes that additional amount of money you have.

So, are you a spender or a saver?

continue reading "Spenders versus Savers"

Are you one who will put off what you can do today till tomorrow. Are you in a habit of promising to do something today and went on with your daily routine and forget about what you have agreed to do?

Take note that sometimes putting off things you can do today till tomorrow might be detrimental to your financial health.

Here is a simple 3-questions checklist for you. Do not procrastinate any further. Use them to get your personal finance and life in order before any regrets:-

• Have you put up a financial budget yet?
• Have you put away an emergency fund yet?
• Have you taken care of your financial succession plan yet?

continue reading "Are You a Procrastinator?"

Part II deals with Secret # 5, 6, 7 and 8 which completes the 8 Secrets of Wealth Creation.

5 LOVE YOUR JOB

If you have to work to earn a living, find a job that you love and enjoy. “When you start doing what you really love to do, you’ll never work another day in your life” said BRIAN TRACY, author of the book “The 21 Success Secrets of Self-Made Millionaire”. While you are doing what you love and earning your salary, put a portion of which into your investment portfolio to create wealth. If you are new to investing, this is a good start to your investment experience ; your first step to being rich.

continue reading "8 Secrets of Wealth Creation (Part II)"

1 ADD VALUE

If you have invested in a business and in order for you to make your products or services more valuable, you have to work harder, work smarter, work longer. This is to ensure that your business will start creating wealth for you faster. You should also look at leveraging on human resources, time and location.

continue reading "8 Secrets of Wealth Creation (Part I)"

Wealth Creation.……….it’s the most talked about topic in the financial arena. Is it only for the likes the Warren Buffets, the Bill Gates or the Robert Kiyosakis of this world? Or is it for ordinary working people like us? Are we ready to invest, to create wealth?

continue reading "How to create wealth?"

“Go to school, get good grades to get a good paying job” is our way of life and we ended up working for money. This is Income Creation……. trading our time for money by working for others or ourselves. Now… is this the only way we know how?? Lets analyze and see what we can get out of this so ever famous term called WEALTH CREATION.

continue reading "Wealth Creation"

“Let money work for you” - A beautiful statement but what has this statement got to do with people with not enough money? Yes, we are always having not enough money.

continue reading "Don’t work for money, let money work for you"

Now you are serious about your life. You have a sheet of white paper and a pen…. you are starting to want to plan. “Where do I start??”

continue reading "How much will I be worth?"

If you cannot save 10% of your income, start by saving 1%. Put it away at the beginning of each month, even before you begin paying down your debts. Live on the other 99% of your income. As you become comfortable living on 99%, raise your savings level to 2%, then 3%, 4% and so on.

continue reading "Put Your Thoughts and Feelings into Action"