my own odyssey towards financial freedom and how my financial advisers mentor me to think abundance, start getting out of the rat race and prepare my way towards financial success and become financially independent
I've been thinking lately of the status of my journey to a destination called Financial Freedom. Since I started blogging about financial freedom, I would say, the journey is full of ups and down. There were times that I was so fired up and all I was thinking is about money! money! money! And there were times that I feel I was stuck again...that I can't achieve financial freedom.
I remember a saying that I've read long time ago, it says: "Trying times is not the time to stop trying".
So I'm here again back on my feet.
It's good that I came across with this article to refresh myself again, the author says it all. Here is the link:
I've read yesterday's article from Yahoo Finance 5 Easy Steps to Become a Millionaire and started thinking: Is that really easy? If becoming a millionaire is so easy then how come that majority of the world's population belongs to the negative zone (expense is bigger than income). And I must accept that I still belong in this category.
Erin Joyce mentioned in his article the last and the most intriguing part for me: Don't Live the Millionaire Lifestyle. He narrated that "Warren Buffett's frugal lifestyle (especially relative to his net worth) is the go-to example for this point. The average value of the surveyed millionaires' homes was $320,000. The bottom line is, those who spend their money on non-appreciating assets cannot put that same money in an asset that will net them a return and increase their wealth. If it is important to you to build your financial worth, stop spending it on new cars, toys and clothes. (The Oracle of Omaha has a net worth in the billions, but his lifestyle is not as rich as you may think.)"
I must agree with Erin Joyce. Most Filipinos I know who belong to Middle Class lives like they are millionaire. You can categorize them by the cars they drive and by the signature shirts they wear. Unfortunately, they are not. If you will know them personally, their credit cards are overly used and over-swiped. On one hand, I can't blame them for behaving that way. Our culture somehow favors those who are visibly "rich". If you wear ordinary clothes, then you are "poor". If you commutes, then you are "poor". If you don't possess a flashy, top-of-the line cellphone then you are "poor". On the other hand, I want to blame the culture itself. It's hard to live simple in this kind of culture and poor-mindset environment, unless you wouldn't care what other people might say about you.
I'd rather be a millionaire who looks "poor" than becoming "really poor" because I'm living the millionaire's lifestyle.
I still remember the time when I graduated from college 15 years back. That was the most memorable part of my college life. No more studying. No more assignments. No more projects. Whew!
I was so excited with the working life so that I can buy the things and stuff I wanted to have for myself and for the family.
If I had my mentors back then, I could have planned better and could have prepared a much tangible financial plans. After fifteen years of working, I have so much loans to pay and with a little investment. I would say I just started right now to execute the financial plan that I should implemented way back then.
For those graduates, Investopedia has a finance tips for you. I wish I could have read this kind of advice long time ago. Read on...
1. If your student loan confuses you, now is the time to figure it out. Don't just read your loan agreements, familiarize yourself with each and every term to the last detail. Know what interest rates to expect, and figure out how much you'll ultimately be spending over your repayment term. In eight months, if you haven't budgeted for your first (of many) payments, you might find yourself a little shell-shocked. College may have been an amazing experience, but your student loan won't be. Spend these next few months getting to know your loan so that you can pay it off as quickly as possible. (For more insight, see Student Loan Debt: Is Consolidation The Answer?)
2. Start saving for the short term. Unless you have a job lined up for the day after you graduate, you need to prepare yourself for some instability. Unless you're moving home, you'll probably need to find a place to live. Plus, you'll need to put food on the table. Don't make the mistake of relying on your credit cards and racking up high-interest debt. Instead, start saving money wherever you can. In three months, you'll thank yourself for creating that cushion.
3. Start saving for the long term.
Even if you have a job lined up, rainy days happen and you should start setting aside funds for them now. You never know what could happen in these next few years, and if you're lucky enough to not need the money, you'll have a head start on your retirement fund. (Find out just how much those early savings can add up in Delay In Retirement Savings Costs More In The Long Run.)
4. Decide whether you really need a car.
Car payments, gas and repairs are extremely expensive and sometimes unsustainable on a student budget. Instead of moving to a place like Los Angeles where you absolutely need a car to get around, consider a place with a good public transit system as an alternative. These days, a car can be too much of a headache for someone with an entry level salary. (Find out why a car may not be the best place to put your money in Buying A Car: The Worst Investment?)
5. Live with a roommate or family while you still can.
Unless you are really lucky, you won't make a whole lot of money in your first year out of school. Regardless, your first year out of school is a crucial time to start building your career. You might need to take an internship or two to get to where you want to be, and you don't want to live an unsustainable lifestyle while you get there. Live at home or with friends, and embrace the fact that you'll get to spend this next year with the people you love.
6. Ask about benefits.
Health insurance, dental insurance, vision insurance, employer-matched retirement plans and other subsidies are just as important as your salary. Don't just let the best salary win your heart - take a look at the big picture before coming to any conclusions. (Get more tips in Job Hunting: Higher Pay Vs. Better Benefits.)
7. Figure out a budget.Next time you have a few minutes, sit down with your computer and research the cost of living in the areas where you want to live. Approach your research with a blank slate - without any assumptions. Dreaming too big will only hurt you, so sit down and get practical.
Life outside the school is harder than you think. Once you stepped outside your school campus and started to apply for a job, you will realize that what you have learned by book is totally different from what is actually happening. You are now in the real jungle. Real experiences. Real battle. And the result of this battle at the end would depend on how prepared you are. It will never be a destiny. It would always be a journey.
I met a lot of people who are so comfortable with their lives and getting out of their own comfort zones is seemed so unbearable. Well, you can not blame these people. As human being, we love comfort and we hate changes especially if changes require another adjustment.
Two years ago, I've been so comfortable with my job. I had a great boss and colleagues. Though I didn't earn that much but the work environment I have kept me from seeing wonderful opportunities outside. I believed then that I can be financially free if I stay hoping that salary increase would spell the difference.
Until one day, the management announced that they are going to enter into a venture agreement with other company.In short, retrenchment is inevitable to all of us. I was sad and a bit excited at the same time. I was excited then because I believe that my position is secured even a new management arrived.
A sad news came. No one from the existing staff will be retained. All of us were asked to resign. Ouch!
Find more videos like this on Create Abundance 2020™ International Network
Admit that you need help
Like Hem and Haw in the above video, I was scared to move out and discover a "new cheese station". My limiting beliefs hinder me too see what my mind can see. My love of reading self-help books had help me to regain my strength and review my financial status. They say that "unless a patient admits he is sick, he will not seek doctor's help". So am I. I started smelling another "cheese station" when I admitted that I really need to cure my financial condition before it's too late.
Find your "emotional why"
While I review my financial status, I began writing my dreams with the amount on it and when it will be fulfilled. The truth struck me down. Most of my dreams are long overdue. If I will not move my ass, these dreams will remain dreams forever. So I decided that action should be made that day! My DREAMS is long enough to enumerate but I keep it always visible so to remind me everyday.
Face your fear
Like anyone else, I got also my list of "what ifs". "When you move behind your fear, you feel free" is always true. I came to discover that most of my fears are only in my mind. They were born of a fearful spirit. I unmasked my fears one by one and I became FREE!
Problems does not happen for no apparent reason. God has many ways of telling us that the blessings we're looking for can be found outside our comfort zones. All we have to do is to step outside.
Last June 4, 2010, a new friend of mine introduced to me an e-commerce business: a cutting-edge communications technology. The first time I saw it, I just said yes to it. And the rest are history.
The fact is, I got my prayer answered that day. The universe just heard what I'm confessing into the world: FINANCIAL FREEDOM.
A day before, I was asking God to give me the opportunity to earn on the side since our salaries were delayed for three months. I never get tired of attracting opportunities, from the small opportunities in the internet to many other survey sites until I was lead to My Video Talk. The Law of Attraction really works.
"What you focus on expands" is my favorite quote. Indeed, my focus manifested differently.
The investment of $350.00 wasn't my problem. It's the solution! Then the following day, I raised the said amount and had myself signed up and so my business with MVT started up without further delay. I keep in mind that I should have the bias for action and never procrastinate.
I thank God that I was introduced to CA2020 last Dec. 2009 where I got my rich mindset and since then I became unstoppable. I never had this kind of adrenaline rush before in pursuing my life's financial dream.
After doing MVT for almost two (2) months, I can't believe that I have already 21 down lines and with a posted earnings of $325.00. I'm so excited to see my executive bonus of $200.00 next Wednesday.
Robert Kiyosaki mentioned in his book "The Business School" the advantages of networking. Though many were mislead before that networking is synonymous to "pyramiding". I must admit that I was once a "burned" victim of networking. But the only difference now is that I know how to transform my limiting beliefs about networking into powerful beliefs.
According to Mr. Kiyosaki, the following are the important real-life business subjects that network marketing companies teach:
1. An attitude of success
2. Leadership skills
3. Communication skills
4. People skills
5. Overcoming personal fears, doubts, and lack of confidence
6. Overcoming the fear of rejection
7. Money management skills
8. Investing skills
9. Accountability skills
10. Time management skills
11. Goal setting
12. Systemization
Companies that possess the values of network marketing business have enormous potentials of giving everyone the source of long-term residual income that would eventually lead to financial freedom as long as you have the right mindset and you have the ability to manage your finances. I'm very happy that I found MVT at the right time, at the right place with THE RIGHT MINDSET.
By the way, it's my great honor to present to you my website in MVT. In MVT, we called it Web Channel. Enjoy watching and feel free to contact me if you are interested to make MVT also your business.
How long I've been working? Am I financially free?
These are the questions I asked myself three years ago that prompted me to review the financial road map that I've been going through for almost 11 years of working continuously. That day, I sat down and devoted the whole day reviewing my finances. I was very sad to admit that when I finished the draft of my personal Financial Statement-- my Balance Sheet and Income Statement, the figures revealed that I am financially bankrupt: few insignificant assets to declare, more liabilities.
T. Harv Eker is right when he said in his book SpeedWealth,"If you're in the business and haven't been creating wealth, there's obviously something missing: there's something you don't know." His words hit me bull's eye. To apply this wisdom in my situation, I'd rephrase what he said and it goes like this: If I've been working for very long time and haven't been creating wealth, there's obviously something missing: there's something that I don't know.
Where did I go wrong? Did I miss something?
The Revelation
I must admit that I really love reading, especially self-help books. Since my monthly budget when I was in the Philippines was not enough to buy books, my thirst for reading doesn't stop. I'd go to National Bookstore, find a book about finances and once I found interesting one, I'd read few pages then go back again the other day to continue reading until such time that I finished reading the book. That's how "wise" I am (lol).
After a year of working as Overseas Filipino Worker (OFW) in Qatar, I was introduced by a friend to sign-up for online business community based in the Philippines called Create Abundance 2020 International Community (CA2020). Through my on-line mentoring program, I was introduced to life-changing books of Mr. T. Harv Eker like Secrets of the Millionaires Mind and SpeedWealth.
In his book Secrets of the Millionaires Mind, T. Harv Eker mentions the different "Wealth Files" that has to be programmed in the mind of anyone who wishes to achieve financial freedom.
One of these Wealth Files says: "Rich people manage their money well; Poor people mismanage their money well"
I got another bull's eye and my face fell flat on the floor. It is a revelation to me. Truth hurts. Indeed, I was good in mismanaging my money in the past because I had a poor mindset. If I had been a good manager of my income as employee for quite a long time, I'm already financially free this time.
The good news is that I believe in the gospel of second chance. So I'm giving myself a second chance to start anew and pave the way towards financial freedom by managing my money well. To become an excellent money manager, one has to know and implement the importance of "Money Jars" as being taught by Mr. Eker.
The Money Jars/Account
1. Set up a Financial Freedom Account (FFA) -
-Always pay yourself first and don't wait for the left over because for sure nothing would be left
-10% of your income after tax
-Should be savings or investment account
- This account shall be used for investment only that will create passive income and never ever spend
- This will be used to create your "golden goose" that will lay golden eggs
2. Set up Long Term Saving for Spending Account (LTSS)
-10% of your income after tax
- Should be a savings account
- This account shall be used for big item like house, car, wedding, vacation, college for your kids, credit card debt etc. You can use separate account for different item.
3. Set up Education Account (EDU)
-10 % of your after tax income
-Should be a checking account
-This account should be used for your continued education related to your profession such as conference, seminar etc.
4. Set up Necessities Account (NEC)
-50% of your after tax income
-Should be a checking account
-This account should be used for utilities, house mortgage, rent, food, car payment, insurance, necessary clothing, your minimum credit card payment.
Note: If your expenses are more than 50% of your income, you have to simplify your life, change your spending habit, and change what it takes you to be happy. You have to choose now: immediate gratification or winning the money game and become financially free?
5. Set up your Play Account (PLAY)
-10% of your after tax income
-Should be a checking or savings account
-This account should be used for your entertainment, massages, nurturing type of things. As a rule, you have to blow all the money in your blow account every month. If you want something special, build the account first for many months then spend it one time. As holistic being, this account allows you to nurture yourself on a spiritual and inner level.Your FFA Account feeds your logical side while your Play Account feeds your spiritual side and strengthens your "receiving muscle" and become an excellent receiver. Remember that you deserve to be happy.
6. Set up your Give Account (GIVE) -10% of your after tax income - This is your charity account.You can give this money in any way you want whether to your church, organization, person in need or whatever. The universe recognizes and rewards giving from the heart. This account strengthens your "giving muscle".
Take note that the percentage for each account is the ideal. You can adjust it according to your situation. That's what I did. Bear in mind that the "habit" of managing your money is more important than the percentage.
After learning The Money Jar/Accounts, I immediately took action. I went to the kitchen, took 6 empty plastic jars (used peanut butter jars) and labeled them accordingly, put it in my cabinet so that I can always see it and be reminded of my financial goals every time I get my things.
With the help of my Money Jars, I can buy the ticket so I can continue my financial journey that has been delayed because of what is called the attitude's nature assassin--PROCRASTINATION.
The financial freedom that is very elusive before is now very close at hand. I agree that being broke is only temporary and being poor is permanent. I'm no longer poor because I already have the rich mindset. I can see now the abundance around me and open myself to the unbounded, limitless and overflowing abundance of God's universe than can be found only when I started moving outside my comfort zone.
Now, I can clearly see what road to take to bring me to the place called FINANCIAL FREEDOM.
Are you a Facebook addict? Does Facebook pays you for being one?
I was a Facebook addict even until now, but the good thing is I started rehabilitating myself by being addicted to another Social Networking site that pays me by doing the same thing I do with all my social networking sites. Is it cool? It's not just cool, it's also very practical!
As I continue my journey towards financial abundance, I keep my eyes open for thousands of possibilities that the universe may give me everyday of my life.
"Every great teacher that ever walk in the planet has told us that life is meant to be abundant"--from the movie The Secret
Let me introduce you to PeopleString...
What is PeopleString?
PeopleString is an international social network media site where everybody can meet new friends, build relationships, join groups and share common interests. It has all the features of any social networking sites like blog, forums, games, polls, photo albums, videos, chat, applications, search engine and more.
PeopleString is basically like Facebook, MySpace, Multiply, Friendster and among others. The difference is that PeopleString pays their members for doing the same things they do on “other” social sites. Isn’t that great?!
PeopleString is the first and next in the evolutionary line of social networking media sites. A community based site where all members gets paid for being active. PeopleString shares 70% of their revenues, from advertisers and other income, back to the members.
What is Revenue? It is the total gross income the company receives without deducting the expenses. Just imagine how generous PeopleString is.
So, aside that it’s a social network media site. It’s also a great income opportunity. With PeopleString the members owns the web.
I am an affiliate marketer and also involved on other online money making programs. How will this social site help me?
It will help you a lot. It’s a social networking site where you can meet new like-minded friends. Meaning this site will be a great opportunity for you to introduce your other online money making programs. Make sure you put it on the right category so that you will not spam the forums.
I just want to use it like any other social network sites. Would that be ok?
Yes it’s ok. You can freely use it like you normally do on other social network site and invite your friends the same way you invited them on other social sites. But weather you like it or not you still get paid for doing those things.
I just want to use their advanced email and their self-destructing email features which is good for affiliate marketing. Would that be ok?
Even though their email system is more advanced than Yahoomail or Gmail it’s totally FREE.
Is this a scam site?
First, let us define what is a SCAM. The term scam is used to describe Internet/online/computer fraud to steal money from people. You can sign-up on PeopleString for FREE and have the option to become and entrepreneur.
You can sign-up on FaceBook for FREE but FaceBook does not pay you. Does that make FaceBook a scam? I don’t think so. But you use their services and do all sorts of things there.
You can sign-up on PeopleString for FREE but PeopleString pays you. Does that make PeopleString a scam? I don’t think so. You can also do things here the things you normally do on other social sites.
If it’s totally free to become a PeopleString member, then how will they pay their members?
As you can see the obvious, social networking sites is a $1.3 billion dollar industry as of 2010 and will even grow. Facebook, MySpace, Multiply, Twitter, Friendster, and among others do not ask any payments from their members. Their membership is FREE. Am I right?
These social sites keeps all the revenues for themselves. While all the free members are making them rich by providing web traffic in exchange for their services. The more web traffic coming to their site, more advertisers will pay for anything to put their ads on them. Are you seeing now where the money comes from?
The income PeopleString receives comes majority of it from their advertisers. As more people joins PeopleString and use their services, there income also increases. Why? More web traffic means more advertisers and 70% of that income are shared among the members. It also means that the revenue sharing of the members also increases as more advertisers advertise on PeopleString.
I am a networker and I like to earn more passive income by building my network. Can PeopleString provide this opportunity?
Definitely, Yes! PeopleString has 6 generations of income streams. You get paid 5% from all your direct referrals lifetime earnings and 2% from level 2 to 6 of your referrals lifetime earnings.
Like any MLM business it will take a lot of time and effort at the beginning and gets easier the moment you reach the exponential growth point.
This is the BIGGER PICTURE OF PEOPLESTRING. Just be active and focus on building wider and deeper network.
The video below shows the potential income of PeopleString by just doing the daily activity of earning PeoplePoints.
Since you mention MLM system integrated in PeopleString, is this a Pyramid Scheme?
System means an organized set of ideas, while scheme means a systematic plan of action. Yes it is an organized set of ideas in a systematic plan of action.
What you mean is the Ponzi of Pyramiding scheme which is illegal. Pyramid schemes profits from the volume of registration fees from new recruited members in order to survive.
Social networking sites do not ask any fees from their members in order to survive and that includes PeopleString. They earn from advertising as explained awhile ago.
I do not want to grow my network. Can I still earn on PeopleString?
Yes, you still can. You can use PeopleString as a medium to introduce your other online money making programs on other PeopleString members. Just do not spam them. Remember to ask permissions first before you blast them with your other online opportunities.
PeopleString has other streams of income too. The PeopleDollar where you could earn $1 for every 100 PeopleDollar you collect. They also have a Mail-Box Cash-Box program which is for now available for US/Canada residences and soon it will be available worldwide.
Why I did not received my Mail-Box Cash-Box code?
Mail-Box Cash-Box is for US/Canada residences for now. It will be open worldwide soon when PeopleString gets more advertisers from worldwide companies.
Why is it that my $0.5 referral bonus still under pending status?
It will remain pending until such time the person verifies his Mail-Box Cash-Box code which is available for US/Canada for now. Therefore, to earn their $0.5 referral bonus you must invite a member from US/Canada for now. Remember that this is just one of their income stream. Do not loose focus on building your network wider and deeper since this is where the huge money comes in, from revenue sharing.
Do I need a PayPal account for this?
Yes, you need an ALERTPAY account and a bank account to withdraw your earnings.
How much will I earn and how do I get paid?
Once your lifetime earnings reaches $25 or more it will automatically go to your ALERTPAY account.
Proof of payments from PeopleString. (Video Proofs are much better and credible than image
How long will it takes before I get my very first payment?
It takes about 60 days for first time FREE users to get their payments. After that, it will be on a regular monthly basis. Which is normally the case because it takes some time to grow the network and collecting PeoplePoints for being active on their site. For entrepreneurs, they get paid every 2 weeks.
I received an email that I’m already paid through PayPal but it is still not showing up?
It usually takes 7-10 days from the time they told you before it will show on your PayPal account.
What are lifetime earnings and current earnings?
Lifetime earnings are your real earnings where when it reaches $25 or more it will automatically go to your ALERTPAY account.
Current earnings is your Pending earnings. It is usually the referral bonus which needs to be confirmed by entering the Mail-Box Cash-Box code which is available to US/Canada residences for now. So it will remain pending for non-US/Canada residences for now until such time it will be available worldwide.
What should I need to do in order to receive their monthly revenue sharings?
You only need to complete at least 100 PeoplePoints every month to be eligible to receive their monthly revenue sharing.
What is PeoplePoints and How do I complete my daily 100 PeoplePoints?
PeoplePoints is use to determine how active you are on PeopleString. It is also use to determine how much revenue sharing you will get from the allocated 70% revenues received from their advertisers. The more PeoplePoints you collect the greater your share, from you and your network, will be.
In order to earn PeoplePoints you need to do these tasks:
1) Login to PeopleString = 10 PeoplePoints
2) Use their Google custom search engine = 10 PeoplePoints (Your need to refresh the browser to see the updated PeoplePoints)
3) Just Click Mail-Box Cash-Box since this is available for US/Canada for now = 10 PeoplePoints
4) Just Click any shopping categories and do a window shop = 10 PeoplePoints (Buy only if you need it)
5) Check your PeopleString email = 10 PeoplePoints
It will total to 50 PeoplePoints. To get the daily 100 PeoplePoints just do these same tasks after 12 hours. This is what most PeopleString members do.
PeoplePoints Update:
You can now earn 200 PeoplePoints per day. You can earn within every 6 hours. The PeoplePoints system resets 12nn/12mn (EST) and 6am/6pm (EST)
Here’s how I do it productively instead of waiting for 12 hours. I only do it in less than 1 hour. Here’s how.
You need to understand that their PeoplePoint system resets every 12 noon and 12 midnight Philippine time. So, it is logical to do the daily 100 PeoplePoints either:
11:55 AM and 12:05 Noon Schedule (10 Mins)
I login around 11:55 AM and do all the 50 PeoplePoints tasks and then logout. Do some other Internet surfing stuff.
Afterwards, I login again around 12:05 Noon and do all the 50 PeoplePoints tasks to complete my 100 PeoplePoints daily activity.
11:55 PM and 12:05 Midnight Schedule (10 Mins)
You get the idea already. In just within 10 minutes I’m done. It’s no secret actually. I just studied their system carefully.
Also around 5:55 AM and 6:05 AM and 5:55PM and 6:05PM
How can I earn more than 200 PeoplePoints per day?
By playing the PrizeWheel and the Coin-Man. Here’s how you do it:
PrizeWheel – Every time you referred someone and that person verifies his email account you get a free spin. You are entitled to have at maximum of 5 spins per day. Prizes ranges from 20 PeoplePoints to 1000 PeoplePoints and $1 to $100 that will go directly to your lifetime earnings. The minimum you earn here is 20 PeoplePoints. So you always win.
Coin-Man – It’s a game of chance. You bet some PeoplePoints and if you win you earn twice the amount you gambled.
What is PeopleDollars?
You earn PeopleDollars by doing a free survey, signing-up on other online programs and deals, doing tasks under Amazon’s Mechanical Turk.
100 PeopleDollars = $1 once reach it will go directly to your lifetime earnings.
Who owns PeopleString?
PeopleString is owned by Darin Myman, President and CEO of BigSring Corporation, an Email service company. Below is a video of him being interviewed on CNBC by Donny Deutsch on The Big Idea.
