Updated on December 27, 2007
X-Curve
I’m sharing with you today simple yet potentially powerful financial concept that can make a difference for you today.
Watch and learn.
Updated on March 22, 2009
Free personal finance web app coming out & Free Ebooks
Free personal finance web application
A free personal finance software called Mint is about to come out. It may give a more intuitive approach to managing money as it claims to find ways to save you money! It features automatic categorization of expenses.
Now, if only there was a way for these very interesting web applications to integrate with my Philippine bank accounts and online stock brokerage. I’m doing it manually right now — should I go ahead and make a Philippine version of Mvelopes and/or Mint? I thought of that before but I think the more pressing issue is to push for financial literacy first. People should know the basic financial principles before even thinking of trying new software or using credit cards.
Right now, I’m trying out You Need a Budget by Jesse Mecham.
Personal Finance 101 Newsletter for Yuppies
I’m also working on a newsletter tutorial for you working young beautiful people so you can get your personal finances on track and catch up on 20+ years lacking financial education. This should be up within this week. I’m giving a special treat with it too! I’ll put up the sign-up link on Tuesday so you can get in early.
Free Ebooks
Check out this free ebook on budgeting that I highly recommend you read.
- Money for Life teaches envelope budgeting in a laid-back fashion because it’s in storytelling format. I’m giving you a free 80-page excerpt. I printed this out and wish I could share more real-life examples but I honestly think the Filipino culture of “bahala na” is so dominant that people don’t even want to bother with understanding finances. I gave a quick preview here.
Updated on March 22, 2009
Cash flow management: Envelope budgeting
The Foundation for Credit Education says:
For individuals who don’t like to work with figures, the “envelope method” provides a simple way to build a savings fund. This convenient system allows you to set aside money each week for various expenses without making frequent trips to the bank or keeping paper and pencil records.
What do you need?
- Discipline and commitment. If that’s so intimidating, fine, discipline and commit yourself for 30 days (just like a trial period!).
- Past utilities and phone bills, credit card statements
- Envelopes
- Calculator/Spreadsheet, budgeting software
Does this even really work?
The envelope budgeting system has been around for a long time. Working on the principles of paying yourself first and spending money only according to your plan gives you a sense of control that you otherwise wouldn’t. It’s right there in the school of KISS.
Updated on March 22, 2009
Manage your Cash Flow
Overspending? Does it seem as if you never know exactly where you are with your finances? I’m not going to promise you’ll be rich overnight but at least take a look at the budgeting techniques that have worked for many others.
Why is it important to even take a look at your finances? The B Word is a scary, intimidating word. I have tried so many times to allocate my allowance, imposing strict limits in Excel, but not thinking twice about swiping my debit card when I find a great pair of shoes (on sale!). I’m supposed to be a numbers girl but I realize that it’s been hard because I haven’t seen a concrete approach to follow, that’s worked for others, and is easy to do.
I think I’d rather call it Cash Flow Management, since majority of the young people do start out with cash rather than assets and investment.
You can’t really count on your income, your allowance, or your topline to increase – you don’t really have control over that. What you do have control over, believe it or not, is your expenses, the money that goes out of your wallet.
We’ll take a look at concrete approaches to budgeting. Ways that work and aren’t just all principles or all-talk.
We’ll take a look at both envelope budgeting and spreadsheet budgeting.
Updated on March 22, 2009
FINANCIAL 4-SQUARE Part 1
Hello Friend,
Are you looking for immediate payoff? Can you tolerate delayed gratification (work hard and invest time and money now with no paycheck for exponential returns later on)? Do you want to work hard in the office and then try to find some leisure time or catch some sleep on the weekends? Do you sometimes like to splurge on a good meal or a movie or nice clothes and makeup? Are you always getting up at 5:30 in the morning to shower and beat the morning rush to get to the office (because you can’t be late!)?
You answer YES!
Well, Friend, I bet you’re an honest hard-working employee! No? Are you, perhaps, self-employed? (FYI, my questions in the first paragraph came from Robert Kiyosaki’s Cash Flow Quadrant.)
I wrote this about you so keep reading. My intent is to educate, please read on even if some parts taste slightly bitter.
What did you look forward to in career class in college? I was quite amused with dressing up in business attire and doing the mock interviews because I knew how to work it.
I bet you liked the role-playing and dressing up. I did too!
