Tuesday, January 28, 2014

Calculating My Net Worth

I should have done this earlier. For all of my talk of personal finance and wealth accumulation, I sadly only have a vague idea of my net worth! Well, a quick Google search remedied that (see site here) and a few minutes later, I found out how much (or little:p) I am actually worth.


Calculating My Net Worth

I should have done this earlier. For all of my talk of personal finance and wealth accumulation, I sadly only have a vague idea of my net worth! Well, a quick Google search remedied that (see site here) and a few minutes later, I found out how much (or little:p) I am actually worth.

Saturday, January 25, 2014

Mortgage Payment Plan





Just to show how serious I am with paying off our mortgage as quickly as possible, I added this debt thermometer from Easy Fundraising Ideas to my blog (it can be found on the right column, near the bottom) to track my payment status. 

Wednesday, January 22, 2014

Credit Card Resolutions for the Chinese New Year

*Guest Post

The year 2014, according to Chinese horoscope, is the Year of the Horse. It is considered to be a very lucky year when it comes to money matters, particularly those born under the animal signs of the Horse, Rat, Rabbit and Rooster—at least, as believed by those who practice feng shui.

But of course, regardless of what your animal sign is, improper credit card management is only bound to lead to some really unpleasant consequences, lucky year or not. These consequences may include collectors bugging you every other day, or worse, getting deeper in debt trying to pay off previous credit card debts.

With 2013 coming to a close, leave behind some bad credit card habits and take up some new, good ones. It would be an even better idea if you include a promise to get out, and stay out, of debt in your New Year’s resolutions! This 2014, resolve to:


Pay more than the minimum amount.

If you have credit card debt, you may want to pay a little more than what you’re expected to pay on a monthly basis. By making higher payments, you can eliminate your credit card debt faster than it would take if you opt to just pay the minimum. Paying more than the minimum also helps you avoid accumulating more debt on interest.

Avoid unnecessary purchases.

There are certain signs in the Chinese horoscope, particularly the Dog sign, that are also predicted to have an excellent year ahead—financially and professionally—but will have trouble saving money. Don’t let these predictions deter you from achieving your goal to save more this year, by making sure to limit the use of your credit card to important purchases only.

Create a timetable for paying off your debts.

The Year of the Snake has come and gone, and 2014 promises to be a crucial year for the Snake sign. A snake’s loyalty can be proven over time, and time is something that’s also crucial to your credit card management. If you’ve a sizeable credit card debt, it would be a good idea to establish a specific timeframe wherein you intend to pay off that debt. Make sure your timetable is a realistic one. Otherwise, it’ll only be another source of stress for you.

Stop using cards that have balance.

Certain animal signs, like the Rabbit for example, are predicted to have a 50-50 year when it comes to money. Because of this, it might be a good idea to stop using cards that already have a tremendous balance to avoid getting buried deeper in debt. On a year that can go either way when it comes to luck, it’s best not to take chances.

No matter what animal sign you may fall under, or how seriously you take the Chinese Zodiac signs, one thing is for sure: you definitely need to establish a more disciplined approach to your credit card use and management. Doing so will definitely lead to a prosperous 2014, regardless of your sign.

* MoneyMax is the Philippines’ foremost online platform for comparing financial and telecom products and services – fast, comprehensive, and free. We aim to give the power of smart purchase decisions back to Filipino consumers by providing everything they need to become financially savvy. Find out more at MoneyMax.ph.


Credit Card Resolutions for the Chinese New Year

*Guest Post

The year 2014, according to Chinese horoscope, is the Year of the Horse. It is considered to be a very lucky year when it comes to money matters, particularly those born under the animal signs of the Horse, Rat, Rabbit and Rooster—at least, as believed by those who practice feng shui.

But of course, regardless of what your animal sign is, improper credit card management is only bound to lead to some really unpleasant consequences, lucky year or not. These consequences may include collectors bugging you every other day, or worse, getting deeper in debt trying to pay off previous credit card debts.

With 2013 coming to a close, leave behind some bad credit card habits and take up some new, good ones. It would be an even better idea if you include a promise to get out, and stay out, of debt in your New Year’s resolutions! This 2014, resolve to:

Saturday, January 18, 2014

Reverse Engineering

If you asked me twenty years ago what I wanted to be when I grew up, I would have answered: To be happy. If you ask me the same question now, I will answer: To be ridiculously happy.



But with such adult concerns like the mortgage, utility bills and similar ek-ek like that, the challenge now is doing what makes me happy while earning a living at the same time. I still don't have all the details in place, but a perfectly happy day for me will go something like this:


Reverse Engineering

If you asked me twenty years ago what I wanted to be when I grew up, I would have answered: To be happy. If you ask me the same question now, I will answer: To be ridiculously happy.

But with such adult concerns like the mortgage, utility bills and similar ek-ek like that, the challenge now is doing what makes me happy while earning a living at the same time. I still don't have all the details in place, but a perfectly happy day for me will go something like this:

Monday, January 6, 2014

The Importance of Financial Mistakes

An interesting conversation with my officemate today brought up the topic of financial mistakes and how we both couldn't believe what we threw our money at when we first started working. She had her concerts and eating out, while I had my impulse shopping purchases and eating out. And travel, oh yes, how we both loved to travel!

She lamented her spendy past because it didn't bring her closer to her ultimate goal of being a billionaire. I admitted that I also regretted my mall rat ways, but wouldn't change a thing because without that stage in my life I would not have exorcised my poor student self and would have continued spending on frivolous items. Really, you need to hit rock bottom so that you can internalize the change that needs to happen.

Living vicariously is well and good sometimes, but when it comes to the important stuff like embracing a frugal lifestyle and calling bullshit on the marketing coven, you need to get in there and experience it first hand. And what better way to make the lesson stick than to actually have to claw your way out of the financial hole that you yourself dug in the first place.

So go ahead and spend like there's no tomorrow. Snap up every must-have item paraded before you by celebrities, bloggers, your friends etc. etc. You only live once right?

When the dust settles and you find yourself fed up with all of the mindless accumulation, zero savings and the scary realization that you'll be going through the same cycle of spending until the day you die, that is if you still have money to spend in your old age, then you can finally start putting your financial house in order. And because you know how it feels to be walang-wala, you'll be more cautious this time around and be more circumspect with your spending.

At least that's what happened to me. 

If you have somehow found yourself in my neck of the woods, chances are you're already looking into sharpening your personal finance skills so congratulations to you! I promise you won't regret the freedom that comes from knowing that your financial future is secure and taken cared off. Besides, contrary to what the dark ages denizens might say, making money is not sinful at all and is actually, dare I say it, quite fun.

The Importance of Financial Mistakes

An interesting conversation with my officemate today brought up the topic of financial mistakes and how we both couldn't believe what we threw our money at when we first started working. She had her concerts and eating out, while I had my impulse shopping purchases and eating out. And travel, oh yes, how we both loved to travel!

She lamented her spendy past because it didn't bring her closer to her ultimate goal of being a billionaire. I admitted that I also regretted my mall rat ways, but wouldn't change a thing because without that stage in my life I would not have exorcised my poor student self and would have continued spending on frivolous items. Really, you need to hit rock bottom so that you can internalize the change that needs to happen.