Do you want to get to know some overseas Filipino workers (OFWs) who are already investing in the stock market?
Scroll down to find out who they are.
Do you also want to learn how to be a successful stock market investor like them and achieve financial independence? Click here to learn how.
Photo credit to owner
As we celebrate the 117th Philippine Independence Day tomorrow, 12 June 2015, I hope that this momentous event in our history will inspire you to dream of another form of independence for yourself, financial independence. Believe that financial independence is attainable and it is a goal that is within every Filipino’s reach.
Here are some pieces of advice for attaining financial independence.
1. Avoid consumer debt. In Robert Kiyosaki’s book, “Rich Dad, Poor Dad”, he wrote that there are two kinds of debt, good debt and bad debt. Good debt is when we borrow to buy things that put money into our pocket and bad debt is when we take out a loan to buy things that take money away from our pockets. Refrain from using your credit card to buy the latest gadgets or designer bags that you cannot afford yet. Practice delaying gratitude. Set aside a fixed amount every month intended for these things and buy only when you can already fully pay for them.
2. Wait for things to become cheaper. If your television, smartphone, laptop, and other consumer goods are still in good condition, it would be smarter to not buy when new versions of these are just launched. It is usual that these goods become cheaper in a year or two and better bargains are available after a period of time. Besides, you get to know how the latest models perform and if they are value for your hard-earned pesos.
3. Be a better version of yourself. Only compete with yourself. if you want to earn more then brush up on your skills. Keep learning what is new in your field of expertise. Use these to contribute to the corporation or organization where you are in and look forward to a promotion or an increase in your salary.
4. Live below your means. If you can does not mean that you should. If you are fond of pampering yourself in spas, for example, you can do less of this and go once every two or three months instead of once a month. Do a DIY at home to minimize your spending and thank yourself later should a crisis arise and you have saved enough money to use to help you recover.
5. Pay yourself first. Automatically save a part of your earnings first before you spend. It is ideal to set aside 20% of what you make but if you can only save less than 20%, then by all means, regularly save that smaller amount. This is way better than not saving at all.
6. Tithe regularly. Give to support your church or wherever you get spiritual nourishment. From Luke 6:38, “Give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you.”
7. Increase your financial IQ. If you want to get rich, learn how money works. Read. Attend seminars. Seek for mentors.
8. Invest a portion of your savings. I define investing as putting money where it has the potential to grow. Put your money in bonds, mutual funds and equities where it can earn higher interest rates and enable you to retire a millionaire.
9. Keep a good record. In Rick Warren’s video entitled, “How To Build A Strong Financial Foundation,” he has talked about how it is helpful to record what you own, what you earn, what you owe and where it goes. This way, you will easily follow your money and make necessary adjustments to your budget as you see fit.
10. Select the company you keep. Surround yourself with people who have your best interest in mind and those who are supportive of your goals and who share the same values that you have. They are the keys to your success.
Do you have other ideas how to achieve financial independence? Share them in the comment below.
P.S. If you want to learn the successful system of investing in the stock market that two maids and a driver apply, click here. One of the maids, as at last update, already has P800,000.00+ in her portfolio. 🙂 How? Click here.
Employees Can Earn Millions In The Stock Market 