How's Your Journey To Financial Freedom?

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:

http://www.businessthrival.com/newsletter/part-1-your-journey-to-financial-freedom/

How To Find The Road To Financial Freedom?

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.























     

Does A New President For Pinoy Will Bring Financial Hope?

The Filipino voters have chosen a new leader that will bring the country to a new level of victory: both moral and economy. Our country has been plague by allegations of corruptions and our mother land has a lot of legwork to do to continue climbing the economic ladder. And having a qualified leader is a must to make these things happen.

I wasn't able to vote last election for absentee voting, however, I'm very happy that even my voice wasn't heard and counted in the PCOS machine, majority of the population have shared with my "ideal" for a presidential candidate and voted for Benigno "Noynoy" Aquino III.


One of campaign promises of Noynoy once elected is to create jobs at home so that working abroad will be out of choice, not necessity. I love that promise. And I want to see that promise in reality. Believe me, life away from home, from loved one is not an easy thing. Kung kumikita lang ba ng malaki sa 'Pinas bakit pa kailangan lumayo? (Why should leave Philippines if your earnings is big enough?)


Statistics show that about 10% of the population, overseas workers sent home $17.3 billion in 2009, up 5.6% from 2008 despite the global recession and accounting for 10.8% of gross domestic product. All of these remittances came from an estimate of nine million Filipinos who work overseas as maids, bankers, seamen, doctors, nurses, construction workers, drivers, teachers, cooks, engineers, farmers, musicians, air crew, nightclub hostesses and more. I'm proud that I am one these unsung heroes.

Reports say that without the overseas workers' contributions, growth would have been tougher and domestic unemployment would have been much higher. So Mr. Aquino faces a very challenging economic test if he will translate his campaign promise into action. Let's see. And let's pray. And more importantly, let us become the changes we want to see for our country. The next question is HOW?

Let me share you the realization of Bo Sanchez, my mentor: "There can be no real Freedom in life without Financial Freedom". I would say that this applies to all Filipinos who depend greatly from government. If the government fails, these people complain and blame the government for their fate. Let us stop complaining and stop waiting for opportunity to fall on our lap. Let us start creating our life and making things happen.

The only difference from the rich and the poor people is their mindset. Do you believe on that? That's according to T. Harv Eker from his book Secrets of the Millionaires Mind. To have a rich mind, Mr. Eker recommends the following steps :

1. Know your money blueprint
2. Reprogram your money blue print
3. Disassociate yourself from limiting beliefs about money
4. Recondition your money belief

The next leader of our country should lead all Filipinos to learn the entrepreneurial spirit so that we will start how to grow money through different business and investment vehicles. We can stop sending workers abroad if we create world class Filipino businessmen. Why not dream of a new Philippines where its citizens become business owners employing other nationalities as workers. It doesn't matter how long it will take us to that dream, what matter is we as nation, are taking every step closer to that dream.

On a personal level, I'm happy that I'm taking my own initiative to step further towards my financial freedom. One winter day, I was introduced to a friend whom I just met here in Qatar. Since I've been looking for mentors who can guide, coach, lead me towards financial freedom, I just said "yes" to his invitation to join Create Abundance 2020 International Network in the Philippines. This community has a mission of spreading financial education throughout the nation and the world and committed to create a First World Philippines.

Does watching soap opera in television everyday can make you rich?
Does betting for a lotto ticket or "jueteng" can ensure the attainment of your dreams?
Does procrastination can bring you closer to your dreams?

Do you think financial education can bring you financial success?
Does a new government can guarantee three-meal-a-day for your family?

Your answer to these questions will depend on your mindset. Always remember, you create your life. Your life does not depend from anyone else.


There's so much to expect from the new President of the Republic but we should not forget that driving our nation towards a First World Philippines requires collaborative effort from you, me...us together.