Decide today that throughout your working career to pay yourself first, you will set aside and invest at least 10% of your income.
Sa tuwing makakatanggap ka ng suweldo, deduct 10% off the top and deposit the money into a dedicated savings account for compounding. You will actually be worth more than fifty million pesos sa oras na magretiro ka kahit 5,000 pesos lang ang ipon mo kada buwan during your working life and invest that money in a typical mutual fund that grows at 10% annually.
This means that any Pinoy—kahit isang Pinoy na minimum wage earner—can become a millionaire throughout the course of their working life if they start saving early and for a long enough period of time.
A part of all you earn is yours to keep, and if you cannot save money, the seeds of greatness are not in you.
—W. CLEMENT STONE
LIFELONG HABIT OF SAVING
Mahirap bumuo ng lifelong habit ng pag-iipon at pag-iinvest ng pera. It calls for a great deal of resolve and willpower. It must be made a goal, written down, the subject of a strategy, and constant work. However, once this behavior takes hold and becomes natural, ang iyong financial success ay garantisado.
Ugaliing maging matipid in all of your endeavors. Use every peso with extreme caution. Analyze every expense carefully. Every significant purchase should be postponed or delayed for at least a week, if not a month. The better your decision will be and the price you will get at that time, the longer you wait to make a purchase.
PARKINSON’S LAW
Impulsive purchases are one of the main causes of Filipinos retiring in poverty. Kapag nakahanap sila ng isang bagay na gusto nila, mabilis silang gumawa ng desisyon na bilhin ito. They fall prey to “Parkinson’s Law,” which states that “expenses rise to meet income.”
Nangangahulugan ito na gaano man kalaki ang kinikita mo, karaniwan mong ginagastos ang halagang iyon plus a little extra. You never succeed financially and you never pay off your debt.
PAY YOURSELF FIRST GRADUALLY
However, you don’t have to succumb to Parkinson’s Law. Kung hindi mo pa kayang maipon ang 10% ng iyong kita, start saving 1% of your income right away in a designated savings and investment account. Even before you start paying off your debts, put them away at the beginning of each month. Mabuhay sa natitirang 99% ng iyong pera.
Raise your savings rate to 2% of your salary, then 3%, 4%, and so on as you get used to living on 99% of your income. You will start saving 10%, possibly 15%, or 20% of your salary within a year and be able to live well on the remaining amount. Your investment and savings account will begin to expand at the same time. Magiging mas maingat ang iyong paggastos, at magsisimula kang bayaran ang iyong mga obligasyon.
Your entire financial situation will be in your hands within a year or two, and you’ll be well on your way to being a self-made millionaire. Every single Filipino who has ever used this method has found success. Test it out for yourself.
ACTION POINT, KABAYAN
To pay yourself first, create a separate account now to start accumulating money. Make a deposit into this account, regardless of size. Then, keep an eye out for chances to add to this account. Start learning about money so that you can learn how to grow it. Read specialized books and periodicals on the subject. Until you achieve financial independence, never stop saving, studying, and developing.
Author: The Pinoy Engineer
GOOD TO GREAT BOOK SUMMARY FOR FILIPINOS
In this blog, you will find the Best Book Summaries and Productivity Tips in Taglish (Tagalog-English) made specifically and exclusively for Pinoys in and out of the Philippines tulad mo, Kabayan. Self-improvement reading is one of the most productive things to do.
GOLDEN OPPORTUNITY FOR PINOYS
Sabi nga ni Jim Rohn – “Ang pagkakaiba sa pagitan ng kung nasaan ka ngayon at kung nasaan ka limang taon mula ngayon ay makikita sa kalidad ng mga librong babasahin mo”.
If seryoso ka sa iyong personal growth and development, Basahin mo din itong FREE E-book na nagawa exclusive lang para sa mga Pinoy. 7 Steps to Living a Life Full of Abundance. Take Control of your Career, Do what you Love, and be Successful. Download the book na yan ng libre, kaibigan.
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