Saturday, June 9, 2012

How to Get Rid of Debt: Negotiate

In my last post Now or Never I promise that I will tell in details how my husband and  I was able to start and get out of our debt. I want to share a lot of things that I knew when we first decided to get out of our debt. We made a lot of mistakes and although we can't go back in time and redo our life again, but I hope that our past experiences can somehow help others by learning through our experiences. 

Bo Sanchez suggested that if you really wanted to be financially free Invest, Invest, Invest, but how can you invest when you have a huge and sizable amount of credit and debt. This is where discipline coming in. Do you really want to be financially free and get out of your debt? have some goals. My goals then were just simply pay off all our debt before anything else, so what I did was I made a computation on how to pay off our lender monthly in a way that it was not difficult for us, my husband then already decided to go overseas. Out of worry that he will not be coming back hehehe me and my malicious mind (thank God he didn't turn his back on me). 

I was left alone physically with all the responsibility. I come up with a proposal, I made a payment plan with his approval of course because the majority of the payment monthly will be coming from him, a proposal on how to pay our lender easily with his consent. Then I negotiate, one thing I've learned when we got into this financial crisis was I learned to negotiate. Some of my lenders became my friends and soon they became my partner in some of my investment. Don't hesitate to negotiate because lenders love to negotiate rather than not paying your debt, don't make your credibility be on jeopardy credentials was far more important than money.

So remember when you cannot pay your debt don't forget to negotiate be honest. After all the negotiation and all of our lender say yes to our proposal we started to plan the next step which is how to INVEST. How we started Investing? What investment? you will find out on my next post for now it's time to say goodnight. Happy savings and have a fruitful life.

Friday, June 8, 2012


I want to have a Rich mindset after all of what happened to us. Hope you too. For a better world to live in.

The first step to change is Awareness.

The second step to change is Understanding.

Find out what current mindset do you have just listened to this audio for additional awareness and for better understanding


Who: Employees, Laborers, Wage Earners
Education: High School or College Graduate
Most Valuable Resources: Paycheck salary
Resource Focus: Salary or Hourly wage
Time Setting: Next Payday
Major Financial Goal: To Survive until next payday
Cash Flow Management: "How much do I have in my wallet?"
Investment Sources: The government
Expected Rate of Return: Get Rich Quick
Advisor: Broke Friends and Family


Who: Employees and Self-Employed
Education: Values a College Education
Most Valuable Resources: Short Term Investments
Resource Focus: Networth (home & personal effects)
Time Setting: Long-Term
Major Financial Goal: To built up a vast net worth by age of 40 to 65 years old.
Cash Flow Management: Understands the value of CFM
Investment Sources: Invest in products or services created by others
Expected Rate of Return:
 10% to 30%

Advisors: Financial Planner, accountants


Who: Entrepreneurs & Investors
Education: Values only "street smart" education from peers / self-learning / what works
Most Valuable Resources: Time and Long-Term Investments
Resource Focus: Cashflow, Net worth (real assets) and Network
Time Setting: Adapt to each financial goal or investments Financial and Time Freedom
Cash Flow Management: Understands that Cashflow Management is the key to all wealth foundation.
Investment Sources: Create products and services to sell to the middle class and masses.
Expected Rate of Return: 50% to 300%++
Advisors: Themselves, each others, selected professionals and mentors.

Have happy savings and fruitful life.

Thursday, June 7, 2012

Think ang Grow Rich

Think and Grow Rich is  a motivational personal development and self-help book written by Napoleon Hill and inspired by a suggestion from Scottish-American businessman Andrew Carnegie. While the title implies that this book deals only with how to get rich, the author explains that the philosophy taught in the book can be use to help people success in all lines of work and to do or be almost anything they want. 

Even it was published a long time ago, several edition was made and it was still a highly respected and well-read books. It has sold millions of copies and always a best seller of all time. According to Napoleon what the mind can conceive and believe can be achieved (becomes our family motto) and that is the real essence of the book. The main character of the book was Andrew Carnegie one of the very successful businessmen in America. Andrew Carnegie was at that time this book was written he was the richest man in the world. An immigrant from Scotland with no money and with little education but he was able to worked himself up and became a giant steel manufacturer.

The formula mention in the book is as relevant and useful as it was 100 years ago. Maybe it is more relevant now that internet and information were so easy. People starts to understand that becoming rich is not all about the lucky stars and magic (I used to think that before). That being rich starts with the way how we think. The book teaches me to think differently. And if you wanted financial freedom this book is a must to read.

Some of the words that I want to share it with you that I think without my knowledge I already use them unconsciously. Until I've read this book and start to wonder and became more aware now.

1. Every adversity, every failure, every heartache carries with it the seed on an equal or greater benefit.

2. Great achievement is usually born of greatest sacrifice and is never the result of selfishness.

3. Education comes from within; you get it by struggle and effort and thought.

4. Self-discipline begins with the mastery of thoughts.

5. The starting point of all achievement is desire.

I once read this poem and according to author it was written out of Think and Grow Rich book.

If you think you are beaten, you are,
If you think you dare not, you don't,
If you like to win, but you think you can't,
It is almost certain you won't.

If you think you'll lose, you're lost
For out of the world we find
Success begins with a fellow's will
It's all in the state of mind.

If you think you are outclassed, you are,
You've got to think high to rise, 
You've got to be sure of yourself before
You can ever win a prize.

Life's battles don't always go
To the stronger or faster man,
But soon relate the man who wins

Happy Savings and Have a fruitful life.

Wednesday, June 6, 2012

Now or Never

When my husband and I got into a big financial crisis, those few who are close to us and  those who devoted their time and money in our first ever business venture can testify what we've been through and it was a total failure, it seems like yesterday. When we fail I began  asking myself how to be a millionaire? Is there a way? Not because of any other reasons I just wanted to pay all of our debt. There were so many "what if" in my mind at that time. Because we really need to pay our debt but I don't know how. What if I have millions right away I can pay my lenders easily. What if my lenders will file legal actions I might end up in jail, what will happen to my children if I go to jail. What if I will just disappear and never show up again what will happen with my work, with my family, my friends (though few remain loyal). Those were all the what ifs that running through my mind several years ago. Yes' that was years ago and at that time I thought everything is impossible, thinking that situation will stay until forever until the rest of my life. But I was wrong, it is true that nothing is permanent in this world. Everything has an end, just like rain the sunshine will appear after the storm, the leaves will fall after the summer and spring will follow thru. Our life is like a cycle full of ups and down, I think God let us experience all the down fall in our life so that we may learn how to do better in life. How to appreciate all the things that we had and we will have. And for us (my husband and I) we learned how to seek financial freedom, we became hungry in terms of financial aspect in our lives seeking how to be free from our debt and how to have a peaceful mind and wanting not to think of  how to have money to pay for our everyday financial obligations, and making sure, that part of our life (nightmare I may say) will never happen again. That the million in my what ifs years ago can make it possible. That I can be a Millionaire because it is by choice. We all have a choice I believed and  according to one of Bo Sanchez article which I find it so appealing. Starting today, I will post articles base on my experience about financial literacy and how I apply it on my personal life. It is my way of telling each and everyone that nothing is impossible just have faith and dream high.

Drink Now or Drink Forever
Some few words are excerpt from Bo Sanchez article

This is a great picture of why people are poor. 

The money that you hold now, no matter how small, is like that jug of water. And you always have a choice. You can drink now or you can drink forever. You can have money now or you can have money forever.---Bo Sanchez. When I've read this article I thought of why not follow Bo Sanchez advise, nothing to loose because I don't have money at all, after all we were buried with debt at that time. But the question is How? 

A lot of people do not know how and where to start. I, myself been through that process but by the determination that I really wanted to get out of the situation that's why I tried my best. Later on or maybe on my next post I will  tell you how I started it all. But first let me tell you what is the real problem why people are struggling to get out of their debt but they cannot and this is proven because I was like this before until I've started the curiosity of reading books, articles, attending some seminars because I am trying to look for an answer and I was already fed up with our financial situation.

A lot of people according to Bo they don't know how to handle their money. They spend whatever they have, and it's true, been there, done that.  I've been with several people who earn as much as fifty thousand or more a month and they spend everything. Some few really doesn't have that much of money but still they spend everything they have and much worst they keep on borrowing to a loan shark so to speak just to feed their hunger for material things. That's why their money pump remains dry. And they'll remain poor forever. Once I've read this quote and on the day that I decided to change my life I've posted it on my table inside my office. It says, "It's not about how much you earn, It's how much you save that matters. Don't wait until the situation becomes perfect because trust me it won't. You have money now. It may be small, but you have it. Act now, think on how to take care of your money, decide, after all it is our choice, our life. At the end of the day,  it's between you and God and nothing else.  Happy Saving and have a fruitful life.

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