Budgeting Using Enveloped System

Do you have difficult time Budgeting your money?

1 Corinthians 16: 2 "On the first day of every week each one of you is to put aside and save, as he may prosper so that no collections be made when I come".

Did you calculate your money every month and try to divide each single centavo to manage your needs and wants? 

For everyone else, whose expenses exceeded their income -  you are not alone. And most of the people think that shifting to other companies will be the solution, for them to increase their financial source. But the truth is, its not about the salary but it is all about budgeting and giving up all unnecessary things. 

Budgeting is the important tools in financial success. It is the basic step on how we can manage and handle our finances. It is not difficult to handle and it is not only for those people who have limited funds.

Many people think that budgeting as depriving themselves buying that things they want and they avoid budgeting as they will never enjoy their lifestyle.

Here is my tip on budgeting using the Enveloped System, this system was actually adopted from Bro. Bo Sanchez, my wife and I decided to apply this system and found out very effective for us.

Prepare a 5 enveloped and label each enveloped as follows:

1. Eternal Fund 

Budgeting is like a Workout 

    In this enveloped we put our tithes, whatever salary we received either from salary,extra income or even dividends from our investment we set aside a portion of it as a tithes. This enveloped we give to the church, community and to the charity we support. This enveloped must be the first enveloped to be filled before the others.

2. Prosperity Fund  
    In this enveloped try to put your investment, a portion of your earnings and salary must re invested for the future and it will be multiplied. Constant amount will make a huge difference. This is your future fund, this make your dreams reality in the future.

3. Emergency Fund
    This enveloped put a small portion as name of its enveloped if emergency occurs. Nobody can predict what will happen for our future but we can prepare to avoid any difficulties.

4. Living Fund
    This is our daily expenses, paying all the bills, grocery and other needs. This will also include your clothing or everything that you need. In this envelope, if ever there is an extra  you can buy the things that you want. If you are a bread winner or still supporting your parents you can also include that in this envelope.

5. Fun Fund
    You still consider your weekly date with your spouse, some relaxation and all those expenses will get from this envelope. Building relationship is also investment and I consider that investment as essential to everyone. If you are married then start having a weekly date with your spouse.

    This simple strategy can be useful but discipline still the key in budgeting. You still consider your weekly date with your spouse, some relaxation and all those expenses will get from this envelope. Building relationship is also investment and I consider that investment as essential to everyone. If you are married then start having a weekly date with your spouse.
Proverbs 21 : 5  16: 2 ""The Thoughts Of The Diligent Tend Only To Plenty; But The Thoughts Of Everyone Who Is Hasty Only To Poverty".

P.S. 1. Bernard B. Anduyon is a OFW based on Doha Qatar and a trainer for OFIE-M ( Overseas Filipino Investors and Entrepreneur – Movement) a group of advocates teaching OFW to start investing and be an entrepreneur. He is also a member of Bo Sanchez Truly Rich Club http://bernard.trulyrichclub.com. 

P.S. 2.  I’m inviting you to attend our Financial Literacy Talk series every Monday at POLO-OWWA Doha, Qatar where I am a regular speaker for Abundance Mindset and Entrepreneurship for Filipino. I am also a trainer of ATIKHA promoting migration issue of OFW and financial literacy both OFW and in the rural area of the Philippines.

If you want a financial coaching you can send email to b_anduyon@yahoo.com

Please like our page:  

https://www.facebook.com/trulyrichcouple

https://www.facebook.com/OverseasFilipinoInvestorsEntrepreneursMovement

Things to Consider Before Investing

Are planning to start investing for your future but no idea how to start? Are you ready to take the risk and be financial independent in the near future?

If you are asking those question and looking for solution on how to start investing this might be helpful to you. Starting into investment without any corresponding goal will only lead you to failure. 

Here are 7 things you need to consider before investing:

1.         Write a financial plan. 

What is financial goal? How long you will be needed the money you will invest? Is this for short term (3 years and below) , mid-term ( 4-9 years) or long term (10 years or more). Your goal must specific put the exact figure you want to attain make it clear in yourself, be realistic with the figure compare to the time frame. Sit down with someone who has extensive knowledge on financial planning and wealth management and ask them to help you write your own financial plan. Be honest in giving out answers to their questions because their financial advice is just as good as the information you provide them.

List down all your priorities in life; ranking each from the most important to the least important: retirement, month-long holiday to an exotic place, brand new car, your children’s college education, healthcare plan for you and your spouse or your parents, business capital, among others. Remember that the first step to investing is figuring out your goals and risk appetite, lest you get ‘lost’ along the way.

 If you get the right plan, have the discipline to regularly follow it and let it grow over time, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

"Nobody plans to failed, they just failed to plan".

No one's ever achieved financial fitness with January resolution and abandoned by February - Suze Orman

2.         Evaluate the risk.  

You need to understand that all investments involve risks. The risk will be depended on your emotions and personality. If you intend to purchase securities - such as stocks, bonds, or mutual funds - it's important that you understand before you invest that you could lose some or all of your money. These investments do not give you any guaranteed return. Always remember "High risk, high return". 

If you have a financial plan for a long term investment then the risk may be tolerable with a small assurance of great return.

"It is better to risk starving to death than surrender. If you give up your dreams, what is  left". - Jim Carey

3.      Diversify.

"Do not put you all your eggs in one basket".  This is the most common quote of an investor when referring to diversification. You need to diversify your investments to avoid or minimize heartbreaking results. You need to consider other investments like insurance, healthcare, properties, business (traditional or non-traditional), paper assets, etc. A safe investor always diversifies.

Most people consider only paper assets and real estate as their investment and forget about covering the “basic” first like insurance and healthcare. Everyone needs to prepare for the unexpected events of life so having these are just as important as your other investments.

Market conditions that cause one asset category to do well often cause another asset category to have average or poor returns.  By investing in more than one asset category, you'll reduce the risks, lose less money and your portfolio's overall returns will have a smoother ride.  If one asset category's investment return falls, you'll be in a position to counteract your losses with better investment returns in another asset category.

4.        Get for any Emergency. 

Emergency funds are money intended for unexpected financial expenses such as job loss, significant medical expenses, home or auto repairs, among others. The last thing you want to do is being forced to rely on credit cards or a loan to pay off your emergency needs, which could simply compound the problem.

These funds should be easy to liquidate hence banks are good places to store your emergency money.

5.         Pay your Debts.

There is no investment strategy anywhere that pays off as well as, or with less risk than, merely paying off all high interest debt you may have. If you owe money on high interest credit cards, the wisest thing you can do under any market conditions is to pay off the balance in full as quickly as possible.

The blessings of becoming debt-free go far beyond the financial area. They extend to the spiritual and material realms as well. No one who is financially bound can be spiritually free. Furthermore, the effects of financial bondage on marital relationships can be devastating.

6.         Do it regularly (Cost Averaging).

Small but regular amounts in investing can lead you to huge results. Use the cost averaging method, this is simply putting your extra money into an investment every month.   By making regular investments with the same amount of money each time, you will buy more of an investment when its price is low and less of the investment when its price is high.  Individuals that typically make a lump-sum contribution to an individual retirement account either at the end of the calendar year or in early year may want to consider “cost averaging” as an investment strategy, especially in a volatile market. This strategy works for a long term investor. 

7.            Control your Emotions (or they will control you).

Many of investors fail or lose their money (in stocks particularly) because they cannot control their emotion. People tend to make wrong decisions when they are emotionally unstable. Emotions like, excitement, panic, greedy etc. must be overcome to become a successful investor.

 Long-term investors will fare much better than those who allow emotions to guide their investment decisions.

Remember: be mentally ready, stay focus on your financial goals and be disciplined in fulfilling them. These will be your keys to attaining financial freedom.


P.S. 1. Bernard B. Anduyon is a OFW based on Doha Qatar and a trainer for OFIE-M ( Overseas Filipino Investors and Entrepreneur – Movement) a group of advocates teaching OFW to start investing and be an entrepreneur. He is also a member of Bo Sanchez Truly Rich Club http://bernard.trulyrichclub.com. 

P.S. 2.  I’m inviting you to attend our Financial Literacy Talk series every Monday at POLO-OWWA Doha, Qatar where I am a regular speaker for Abundance Mindset and Entrepreneurship for Filipino. I am also a trainer of ATIKHA promoting migration issue of OFW and financial literacy both OFW and in the rural area of the Philippines.

If you want a financial coaching you can send email to b_anduyon@yahoo.com

Please like our page:  
https://www.facebook.com/trulyrichcouple
https://www.facebook.com/OverseasFilipinoInvestorsEntrepreneursMovement

Begin with the End in Mind (Abundance Mindset)

Do you wonder why there are people who is very successful and there are people was not and became failure?

What is the secret of the successful people that the failure people did not make it to became successful?

Did you know someone who became successful and did you ever have a chance to ask him or listen to him how they became successful? If you will notice most of the successful people once in their life they are failure. Yes they did a lot of failure in their life. But the only different between successful people and failure people is how they react and learn from their difficulties and tragedy in life.

Successful people focus on the rewards and learn from their failure. What you focus on, you will see in your world. Since you can’t take in all impressions around you, your reticular activation system – your focus system in the mind – will bring into focus what you focus your thoughts on. If you want to become successful, change your mindset, focus on the rewards that are waiting after the difficulties. Did you notice that success come after the pain? After you overcome the most difficult moment in your life you find the sweet rewards.

"Beloved, I wish above all things that thou prosper and be in health, even as thy soul prosper." 3 John 2

The Lord want us to prosper and to become successful. Only us limit the blessing and stop us from reaching our dream because of our Scarcity Mindset. Control your belief and you will be soon surprise how powerful your belief is. As I remember the video "The Secret" state that "declare your dream to the universe and the universe will revolve according to your dreams". God want us to develop our Abundance Mindset, there is a promise of prosperity in the end of the pain unless you act and overcome the hindrances of life.

"'For I know the plans I have for you', declares the Lord, 'plans to prosper you and not to harm you, plans to give you hope and a future.'" Jeremiah 29:11

You are born to become successful in all areas of your life. Every resources are given to us, your talent, your skill, your dreams if we only understand how this resources fulfill our dreams. Count your blessing and you will found out that your blessing is hundred times than your failure. Successful people around the planet focus on the rewards that God promise us, He is true to His promise we only need to be more aggressive and full of perseverance to fulfill our success.

“Abundance is not something we acquire. It is something we tune into.”~ Wayne Dyer

How to developed Abundance Mindset:

1. HAVE FAITH

You need to believe that God is the source of your infinite blessing, it never stop His blessing is limitless. You also need to believe in yourself that you are the Champion of God. If you don't believe in yourself don't expect others will believe in you.

You need to believe that there is a God who will provide whatever you need to achieve your dreams. We need to be convinced that God is generous, goodhearted, kind and ready to pour out His blessings upon us. To gain a personal revelation of this and increase our faith, meditating on the Word and immersing ourselves in the Scriptures is a must. This will help validate our expectations.

Faith needs to be exercised to be effective and help us grow in our ability and capacity to receive abundantly. So believe God for financial abundance, spiritual abundance, and also abundance of love, joy, and peace. Have faith in God to prosper in every area of your life.

2. BE POSITIVE

Always focus on the rewards not in the challenges of life. Change your negative thought into positive mindset. Believe that God will provide all the resources you will be needed to achieve your success. It all start in the mind. visualized your dream make a clear picture of your goals in life, all aspect in life imagine, dream for it and you will receive.

But, God is the God of more than enough and we should not put limits on Him. Our focus should be on the abundant promises in His Word.

3. TAKE ACTION

A dream is only a dream unless you have act on it. Do not blame the society or people around you in your failure or pain remember that you are the one responsible for your own success. Most of people blame the government the society, their parents and their family for all the failure that they experiencing.

It is your choice if you want to be a successful or you want to be a failure. People around us is just a temp and instrument, they can help us or they can destroy us. But your action will be the result of being a successful or a failure.

A serious responsibility goes along with the abundance that is manifested in our lives. Selfish stewardship over the gifts, talents, and blessings we receive can destroy their usefulness and our ability to receive more.

The gifts we have been blessed with are meant to be used to benefit others; not only ourselves.We are blessed to be a blessing.

4. BE GENEROUS

There is a power in giving. The more you give a thousand fold it will return. As you give you also open the gate of receiving exponentially. Giving and receiving  work hand-in-hand, the more you give the more you receive.

“Give, and it shall be given to you. Good measure, pressed down, shaken together and running over… For with the measure you use, it will be measured to you.”
– Luke 6:38

5. BE THANKFUL 

Do not be anxious about anything, but in everything by prayer and supplication with thanksgiving let your requests be made known to God - Philippians 4:6

Always be thankful because everything happens for a purpose.

Unless you are ready and you mind is open the blessing of the Lord will flow abundantly. Opportunities are unlimited blessing we only need to open our mind and always focus on the reward that is what God promise us.

This post was originally posted in my last blog.. www.pinoyfinancialliterate.blog,com

First Comes First: Invest in Knowledge

Maybe your asking yourself, how can I become successful?

What should I do first?

Success doesn't come instantly. You can only achieve your success with hard work and perseverance. You are responsible for your own success. People around you can help you to be a successful individual but it your level of success still depends on your decisions and actions.

Start learning. Invest in Knowledge.

"An investment in knowledge pays the best interest" -Benjamin Franklin

If you want to become a successful person, start investing in your knowledge. Find your niche or identify the core gift that God has given you. Develop and learn how to be more better than the others. Use your creativity.

Successful people never stop learning. They innovate using the latest technologies available. They keep attending seminars, workshops and training-- constantly updating themselves with the latest developments. Also, you need to have a mentor in your life, someone who shares the same love in your niche and is willing to teach you the tricks of the trade.

"Without consultation, plans are frustrated, but with many counselors they succeed".

--Proverbs 15:22

Mentors help you by sharing their experiences of successes and failures. Having knowledge is not a guarantee that you will not face trials and difficulties but it can be minimized. Get inspiration from people who emerged victorious at the end of their trials. Most of them will generously share their success story.

Knowledge and experience gained when faced with different challenges comes in handy at some stage in life. I want to encourage you to acquire as much knowledge as you can as you go about working on achieving your life’s purpose. You just never know when you will need to call upon it for help.

Knowledge is the beginning of wealth. Discipline is the beginning of health. Wisdom is the beginning of spiritually. Searching and learning are where the miracle processes all begin. Knowledge is the most powerful asset of successful people. It becomes power if and only if we put it into action. This is the secret recipe to success and gaining knowledge would be the main ingredient in it.

“Before success comes in any man’s life, he’s sure to meet with much temporary defeat and, perhaps some failures. When defeat overtakes a man, the easiest and the most logical thing to do is to quit. That’s exactly what the majority of men do”. – Napoleon Hill

The problem with most people is that they are well on their way to success when an obstacle decides to block their path. Most people will attempt to jump this hurdle or blast through the challenging brick wall but when rejected, they decide to turn around, give up and walk away because the task is just too challenging. Most people don’t have the burning desire and persistence to realize their dreams because they feel it’s easier to just be average and carry on like 98-99% of the rest of the world.

No matter what happens, the one thing that can't be taken from you is your mind. And the more you know, the better prepared you are to tackle the hurdles that life throws in your way.

The great breakthrough in your life comes when you realize it that you can learn anything you need to accomplish any goal you set for yourself. This means there are no limits on what you can be, have or do.

Success is the meeting of preparation and opportunity. Difficulties and trials are inevitable part of success and that we need to defeat them by consistent and persistent action. Face your fear, face your challenge. The only thing that can ready you for battle is when you gain knowledge and put in to action.

Remember, failure is a postponed success.

This post was originally posted in my last blog.. www.pinoyfinancialliterate.blog,com

P.S. 1. Bernard B. Anduyon is a OFW based on Doha Qatar and a trainer for OFIE-M ( Overseas Filipino Investors and Entrepreneur – Movement) a group of advocates teaching OFW to start investing and be an entrepreneur. He is also a member of Bo Sanchez Truly Rich Club http://bernard.trulyrichclub.com. 

P.S. 2.  I’m inviting you to attend our Financial Literacy Talk series every Monday at POLO-OWWA Doha, Qatar where I am a regular speaker for Abundance Mindset and Entrepreneurship for Filipino. I am also a trainer of ATIKHA promoting migration issue of OFW and financial literacy both OFW and in the rural area of the Philippines.

If you want a financial coaching you can send email to b_anduyon@yahoo.com

Please like our page:  

https://www.facebook.com/trulyrichcouple

https://www.facebook.com/OverseasFilipinoInvestorsEntrepreneursMovement

What is your Strongest Desire?

Most of us have a dream and we want it to be fulfill, but only few of us follow their dreams with their deepest desire in their heart.

Here is the truth. People keep on dreaming but they don't commit on their dreams. Why? Because they don't find their strongest desire. In their mind they want to be successful but behind their mind they have doubt that they will achieve their dreams. The law of attraction said whatever you wish will be granted. The whole universe listen to your dreams, you just need to be clear and more eagerly act on it. How?   click here