Be among the privileged Filipinos to witness this year’s winners of the Influential Author, Money Blogger, Advocacy Group/Partner, Institution, and OFW Advocate of the Year awards!
with live performances by neo-ethnic band Talahib,
the VoicePH finalist Darryl Shy, spoken word+poetry+music artists from Romancing Venus (featuring Kooky Tuason, Marty Tengco, Cecil Artates and Caren Tevanny),
singer-songwriter Acel Bisa van Ommen, and DJ Kyle Garon!
also featuring Mike Grogan, Jojy Azurin, Fitz Villafuerte, Ace Gapuz, Alvin Ang, Henry Ong, Dean Pax Lapid, Rose Fres Fausto, Rex Mendoza, Susan Ople, Ardy Roberto, Miriam Quiambao, and a whole lot of finance and investment personalities!
Hosted by EntrepChamp Paulo Tibig, Kassy Pajarillo, and Trix Esguerra
September 24, 6pm to 10pm at the Asian Institute of Management in Makati City
See you there!!
We would like to thank the following:
CO-PRESENTER:
Manila Workshops
OFFICIAL VENUE PARTNER:
Asian Institute of Management (AIM)
IN PARTNERSHIP WITH:
Truly Rich Club
Real Estate Maven
Klimex Capital Markets
SPECIAL THANKS TO:
Sta. Lucia Land
David’s Salon
COLmeJoey
Philcrowd Nutriwealth Multi-Purpose Cooperative ForeclosurePhilippines.com
International Philippine School in Al Khobar
Jesus the Risen Savior School-DeLa Salle Accredited
RockToRiches
MEDIA PARTNERS:
Philippine Star
Radyo5 92.3 FM
Radio Republic
BlogWatch.ph
**Proceeds from this event will benefit the financial literacy and social entrepreneurship mission of Angat Pilipinas Coalition to public schools and poor communities around the Philippines.
Maybe you know where your SSS ID is kept. Maybe you know which drawer you squeezed in your passport. But when your filing cabinet becomes like the traffic in EDSA or the Los Angeles freeway and you can’t find a document that you need in at least 10 minutes, then it’s high time for your files to have a makeover.
Here are some of the pressing financial reasons why you need to get a better handle on all your documents sprawling around your house.
Less cost on fees.Your accountant or tax lawyers will charge your less on man-hour costs and professional fees if your files are well-organized. Having good records will save you money in the long run.
Saves you time. If your files are organized and properly labeled, it will be easier for you and your family members to pull them out if immediately needed.
Easier for family members to pick up documents when you are not around. More importantly, having your files organized will be easier for your spouse or kids to look for your files when needed and if you are not around. You will also set a good example to your family members when they see how organized you are.
Unorganized records lead to relationship friction. You may have experienced blaming your spouse or parents when you were looking for a particular document during an emergency and you could not find them. You can avoid these blame games by maintaining a good filing system.
Lets you know your current financial situation.Having good records and organized filing system will also help you and your family members understand what you currently have and how your cash flows in and out of your accounts.
Transform Your Piles Into Files
Don’t procrastinate, start your simple home filing system now. You can start with just 10 to 20 major categories for your hanging files or filing folders.
Here are some examples for you to consider:
Cash and banking records
Mutual funds and unit investment trust funds
Stock brokerage accounts
Retirement plans
Insurance (Non-life)
Insurance (Life/critical illness/disability)
Insurance (Medical)
Estate plans
Work-related files
Home purchase and improvements
Loans and mortgages
Cars/vehicles
Taxes and government filings
Warranties and manuals of your appliances and gadgets
Have you asked yourself, “Kailan kaya ako yayaman?” even if you are earning bigger than your other friends and relatives?
The truth is, you may never achieve the goal of being rich if you are currently living beyond your means. Did you know that the reason you are not achieving it is not because you have small salary but rather because of your overmuchness lifestyle choices?
If you believe you are guilty, then you should take these steps to turn things around.
1) Know your net worth.
To give you a clearer view on the status of your finances, it is recommended that you conduct a net worth analysis.
Analyzing your net worth is quite simple:
Add the following outright assets: Savings + Retirement accounts + Stock investments + your real estate property + others
Add everything you owe (debts): car loan payments + credit card bills + personal loans + other payables
Then subtract your debts from your assets in order to arrive at your net worth.
If the result is a negative number, then you are living beyond your means. This means that even if you have a job today and you are earning a salary, you still essentially own nothing.
In order for your numbers to become positive, start living within your means.
2) Practice cash-only living.
Many people, Filipinos included, do not really understand what living within or below means for obvious reason: they live on loans and credit cards.
The best thing to mitigate this problem is to instill a habitual behavior of living on cash alone. Just try 21 days of spending with your cash alone and not with your credit cards.
This will challenge your spending behaviour but you will be surprised on what you can do if you are able to make it on the 22nd day just using your cash on hand for your daily expenses.
Do not forget to record your debts as mentioned in our recommendation No. 1. The limitations of living on cash only may frustrate you, this will be a learning experience for you as you will be forced to be more careful and thoughtful in identifying where you are spending your money.
3) Clear out the clutter.
If you are a willing victim of the culture of rushing to malls whenever there are “sale offers”, you must be collecting items you don’t really need inside your closet or drawers.
If your closet contains items you haven’t worn in over a year, old technology, books, or sporting goods, you’ve already got more than you need.
The greatest 3-day sale madness in town is not really helping you saving money when you are actually using your credit card or money you borrowed from your officemate.
Maybe it’s time for you to clear out the clutter and consider selling your items on eBay, Amazon, OLX, ukay-ukay shops, or even at your garage. Or better yet, why not donate them to people who may need them the most?
4. Reformulate your definition of success.
While you really do not show your bank savings or credit card bills to your social media “friends” or neighbors, the way you dress yourself, the car you drive, the restaurants you go to, or how frequent you travel to places other people have not been to in their lives may make people judge how well you are doing. Even if the truth is you don’ really have the means.
There is a big difference between being truly rich and just trying to look rich.
It’s not that complicated to follow these steps but you need to convince yourself that there’s no gain if there is no pain.
