Let me share you something I learned from a Personality Development Course...
We all do work. We work for ourselves, for our family, for our friends and for anybody. All things have a set of rules we have to follow. In these rules, it is as if the work we do for others are talking to us personally. Here are some simple rules we can apply in our work...
Ten Commandments of Working for Others
1. Do not lie. It wastes mt time and yours. I am sure to catch you in the end and that is the wrong end
2. Watch your work not the clock.
3. Give me more than I expect and I will give you more than you expect. I can afford to increase your pay only if you increase my profit.
4. You owe so much to yourself that you cannot afford to owe to anybody else.
5. Dishonesty is never an accident
6. Mind your own business and in time you will have your own business to mind.
7. Do not do anything to hurt your self-respect. An employee who is willing to steal for me is willing to steal from me.
8. It is none of my business what you do at night, but if it will affect what you do the next day and do only half as much as I demand, you will last half as long as you hone.
9. Do not tell me what I like to hear. Tell me instead what I need to hear.
10. Do not kick if I kick. If you are worth correcting, you are worth keeping.
Where can We Learn a System on How to Manage our Money?
Money is important to each one of us. We Earn. We Spend. We Save. With money we can provide for our basic needs such as food, shelter, clothing. It also gives us the opportunity to enjoy a Lifestyle we choose to have. We also have the responsibility to save and invest for future needs.
There was this Seminar held by John Calub titled "How to Become a Money Magnet"
A friend wrote an article for me about the said event:
On How to Become a Money Magnet
by Miguel
Oscar D. Castelo
As a Financial Advisor, I constantly seek
ways to improve my service to my clients and teach them new things, that’s why
I never get tired of attending seminars and trainings that would help both them
and me.
I started the month of September by
attending a seminar provided by John Calub on how to become a “Money Magnet” by
managing your money well and having the proper mind set to achieve your
financial goals. Obviously I wanted to learn more so that I can teach more, and
paying 500php for knowledge that I would be able to use forever was a cheap
price to pay.
What struck me the most, during the seminar
was the methods and techniques that I have learned as regards to paying
yourself first before you pay for your bills and buy your necessities, a
process that most Filipinos are not familiar with and the main reason why we
always seem to burn through our salaries really fast. Have you ever heard of
the saying “mabilis mawala ang pera”? That was what John Calub was referring
to.
Another aspect of the seminar which caught
my attention was the notion that you will never become rich or financially free
and stable if you just keep your savings in the bank. This is something that I
actually tell my clients about. It is not enough to spend less than what you
earn and put the difference in a savings account, that’s pointless because it
will never grow. You will need to “spend
less than what you earn and invest the difference”. The best part of this
was that one of the safe investment mediums John Calub was talking about is
something that I specialize in which is “Variable Life Insurance” (financial
protection plans packaged with Investments). John told his audience to seek a
Financial Advisor and Life Insurance Agent because they can help kick start
safe investments. You can imagine how much I was trying to restrain myself from
standing up in a crowd of over 1000 people and shouting, “Financial Advisor
right here I specialize in Variable Life Insurance, talk to me after the
seminar”.
All in all, it was a great experience as I
now teach what I have learned to my clients as part of my service. Whether they
get Life Insurance from me as crucial part of their financial planning method
doesn’t really matter, for as long as I see them financially free in the future
because of what I was able to teach them, I would consider myself repaid for my
efforts.
I would like to end this entry with a
question.
When you retire, do you suppose your money
will outlive you? Or will you outlive your money?
If you answered that your money will
outlive you, then congratulations you probably are financially free or at least
on the road to getting there. You are part of the few people who can eat at a
fancy restaurant without the need to look at the right hand column of the menu
(where the price is located). Or you don’t need to charge everything on your
credit card because you’re still waiting on your months’ salary.
But if you answered the latter, and you
feel that what you make won’t be able to support you until the final days of
your life then ask yourself why. Maybe you need to learn how to manage your
money properly.
I find it funny that we spend such a long
time in school to receive a degree in order to get a good job and earn money
but we were never taught how to handle it. For that reason I take pride in my
work as a Financial Advisor, because I teach people something that they do not
actually learn in all their years inside the four corners of the classroom that
cost our parents a small fortune just to put us through school.
I’d like to give a shout out to all my
fellow Filipinos who would like to learn more about how to manage your own
money and make you stop working so hard for the money you earn to the point of
breaking your backs and not enjoying life.
But instead making your money work hard for
you simply because you deserve to become rich while you enjoy the company of
your friends and family as well as enjoying what life has to offer.
I would love to share what I have learned
from this experience as well as what I have learned throughout my career that
would make the financial lives of Filipino people better.
Have a Good day and
may God Bless us all
Miguel
Oscar D. Castelo
Pru
Life UK Financial Advisor
For
inquiries you may contact Oscar at: 09178039114 or 6711686
Is it the same as Financial Literacy and Financial Management? How can people relate with this stuff?
Where does one learn Financial Education?
Let me give you an overview...
What is Financial Literacy?
Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions through their understanding of finances.
In Asia Pacific and Middle East Africa
A survey of women consumers across Asia Pacific Middle East Africa (APMEA) comprises basic money management, financial planning and investment. The top ten of APMEA Women MasterCard's Financial Literacy Index are: Thai 73.9, New Zealand 71.3, Australia 70.2, Vietnam 70.1, Singapore 69.4, Taiwan 68.7, Philippines 68.2, Hong Kong 68.0, Indonesia 66.5 and Malaysia 66.0.
Financial Management means planning, organizing, directing and controlling the financial activities such as procurement and utilization of funds of the enterprise. It means applying general management principles to financial resources of the enterprise.
Scope/Elements
Investment decisions includes investment in fixed assets
Financial decisions
Dividend decisions
Objectives of Financial Management
The financial management is generally concerned with procurement, allocation and control of financial resources of a concern.
The objectives can be:
To ensure regular and adequate supply of funds to the concern.
To ensure adequate returns to the shareholders which will depend upon the earning capacity, market price of the share, expectations of the shareholders.
ABU DHABI // Filipino migrant leaders are teaching their compatriots how to manage their hard-earned money, invest their savings and prepare them to reintegrate into their communities back home....
The move follows a financial literacy "training of trainers" organised in Dubai by the Ministry of Labor, not only for Filipino migrants but for those from Bangladesh, India, Pakistan and Sri Lanka.
A series of workshops were held in January by representatives from Atikha, a non-governmental organisation that provides economic and social services to overseas Filipino workers (OFWs) and their families in the Philippines. Atikha also developed a training module that was applicable to other migrants.
The financial literacy seminars discussed basic concepts of saving, investing and borrowing and the various investment instruments that Filipinos could utilise.
"It is our nature to make sacrifices for the family," Mr Junio said. "We need to know how and when to say 'no' to some of their demands."
Just click the link to read the whole article.
For a review about the banks in the Philippines such as Bangko Sentral Ng Pilipinas, Banco De Oro, CitiBank Philippines, Bank Of The Philippine Islands, Union bank, Philippine National Bank, Metrobank, Security Bank, Land Bank Of The Philippines, HSBC Philippines and China Bank Philippines click here.
So where do we learn this Financial Stuff...
For me, I learned from a book. Then through videos and eventually through seminars. There are people that have knowledge and wisdom to share about Financial Literacy, Financial Management, basically finding Financial Education.
Robert Kiyosaki has been one of my Best Mentors. Who is he? Wikipedia says Robert Toru Kiyosaki is an American investor, businessman, self-help author, motivational speaker, financial literacy activist, and occasional financial commentator. Kiyosaki is perhaps best known for his Rich Dad Poor Dad series of motivational books and other material published under the Rich Dad brand. He has written over 15 books which have combined sales of over 26 million copies. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" CDs and disks.
As a devout global financial literacy advocate, Kiyosaki has been a staunch proponent of entrepreneurship, business education, investing, and that comprehensive financial literacy concepts should be taught in schools around the world.
Here is a video or Robert Kiyosaki talking about Financial IQ
Here is my Conclusion:
Financial Intelligence means being Financially Educated and having a Financial Management System that works for you.
It is Important that each person has a High Average Financial IQ for money has a very important role in our life today.
To be Financial Educated, it starts from within. Your DECISION. Decide to be financially educated, raise your financial IQ and have a financial management system. Resources are available at hand. It can be your friends, family, books, newspaper and Internet.
