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Showing posts from October, 2016

Steps on Creating Monthly Passive Income

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Everyone wants to live a life free of financial worries, I keep trying to venture with different businesses, sidelines, hustle, etc. etc. I worked in real estate 4 years ago and today claiming the fruits of my hardwork.

I received my unclaimed commissions from May to Sept 2016 in my previous real estate deals.

I would like to share with you tips and my personal experience in achieving my goals of  creating passive income of 1M PHP monthly. 
I'm on my way to achieve this goal, it was tough there are many challenges and trials along the way but I keep standing and  focusing on the goal.
Here are few steps to follow:
1. Find your strength. Don't focus on your weaknesses instead make your strength to be at a world class standard. For example ; I worked as a Financial Controller, I keep improving myself in fundamental analysis, reinforce my education and  credibility (I recently passed the CPA Board Exam).
2. Create New Ideas. Think of something different that can solve somebody&#…

Create a SMART Goals !!!

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Everyone creates goal but not everyone make it SMART:

S - Specific
M- Measurable
A - Attainable
R - Relevant
T- Time Bound

Goal should be Specific.I want to achieve Financial Freedom, this is very vague, instead I want to hit 1 Million PHP Passive Income Monthly by June 2017.

The goal can be Measured thru numbers, results and outcomes. You can execute a plan to hit the goals. How can you hit the 1 Million Goal Passive Income?

Goal can be Attained. Attainable thru action steps or plans. Start creating money machines and take small steps toward the achievement of 1 Million Passive Income. Start a blog, invest on stocks, and mutual funds etc. etc.

Goal should be Relevant. Some questions that you need to answer, Is your current work relevant to your goals? Is it pushing you to the right path to your goals?

Goal should be Time bound. Do you have a set deadline? Is it possible to achieve on the set timeline? Are you following the required steps to achieve the set goals?

If you don't have a …

Bad Debts VS. Good Debts

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Bad debt is debt that makes you poorer, such as credit card debt, car loans, and more. This is the type of debt used to buy liabilities.
Good debt is debt that makes you richer, such as a loan for investment property or to purchase equipment for your business that will make you a return. This is the type of debt that is used to buy assets.
Personal loans, business loans, consumer loans, car loans, student loans, mortgage, credit card loans etc. etc. At some point of our lives we are buried with BAD DEBTS or GOOD DEBTS, frankly speaking, I myself been into the bottom. My student loans, personal loans, credit card loans piled up in the past.
I'm thankful that I'm almost cleared with those loans and getting clean. The truth, I only took loans for necessary things and for emergency purposes and good reasons.
Here are some of my  "GOOD DEBTS" ;
First, Student Loans for my "Master's Degree". This is not an easy decisions to pursue a Master's Degree especia…

Wasted Time = Wasted Money

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I'm trying to be productive and manage time wisely, as they said "TIME IS GOLD" but in reality "TIME IS MONEY". Probably you are working full-time 9 - 5 hours worked, received monthly paycheck according to hours worked. Sometimes, you are working extra hours and get paid for overtime.

Of course, there a lot of interruptions that cut your time such as facebook notifications, email alerts, browsing and navigating in the net, more or less it will be equivalent of 1 hour or more in  a day. Try to cut the wasted time instead spend it for quality time:

Here are some activities that cost us money:

1. Gossip meeting. Only attend meetings that are necessary, if you are working in an organization that focuses on teamwork, you will have at least 3 meetings in a week. Check the agenda of the meetings before attending, probably less time will be wasted or ask your secretary to attend the meeting if your presence are not necessary.

2. Reading news. If you are reading the ne…

Wasted Time = Wasted Money

Image
I'm trying to be productive and manage time wisely, as they said "TIME IS GOLD" but in reality "TIME IS MONEY". Probably you are working full-time 9 - 5 hours worked, received monthly paycheck according to hours worked. Sometimes, you are working extra hours and get paid for overtime.

Of course, there a lot of interruptions that cut your time such as facebook notifications, email alerts, browsing and navigating in the net, more or less it will be equivalent of 1 hour or more in  a day. Try to cut the wasted time instead spend it for quality time:

Here are some activities that cost us money:

1. Gossip meeting. Only attend meetings that are necessary, if you are working in an organization that focuses on teamwork, you will have at least 3 meetings in a week. Check the agenda of the meetings before attending, probably less time will be wasted or ask your secretary to attend the meeting if your presence are not necessary.

2. Reading news. If you are reading the ne…

5 Ways to Make Money While You Sleep

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I keep  looking at ways on making money without exerting too much effort, the two key words "Passive Income". I want a lifestyle that I can have cashflows overflowing in my bank account. There is no need for me to work fulltime, I can spend more time with my family and travel the world. Probably this goal will take longer than 5 years from now.

I'm trying to work on these 5 money machines and targeting to exceed my monthly fulltime income:

Here are 5 ways to make money while at sleep:

1. Starting a blog. Find a niche and start creating a quality content for readers that can be turn into paying customers. You can set up a free blog site at blogger and wordpress. My 2 weeks blogsite that I'm working out right now that there will be a potential passive income: http://drivelikegermans.blogspot.ae

2. Create Digital Products. It can be an ebooks, newsletter, guide and online courses. The trend in publishing is promote yourself or self-publish. I wrote few ebooks in PDF fi…

Abundance Now!!!

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I believed everyone can have abundance in their lives. We can amplify our lives and achieve prosperity today.

I'm reading the book of Lisa Nichols and Janet Switzer -Abundance Now, I would like to share with you the formula of getting rich. Again, this is not a "get rich quick scheme" but a tried and true formula for amassing substantial wealth over time.





Here is the summary:

1. Write a budget  that tells you every month where your money should be spent. Include savings and investments- in any amount - as just another expense you pay along with your groceries, rent and electric bill. If you need a budgeting app, here is the link https://play.google.com/store/apps/details?id=com.ps.iprosperapp&hl=en .

2. Get Out of Debt. Pay off your smallest debt first, then apply that now-available debt payment toward paying off larger debts.  Keep going until you have zero debt- except for your mortgage(and many people pay that off too). Get rid of excessive credit cards except on…