My Money Management Strategy: The Debt, Savings, and Investment Triumvirate

My Money Management Strategy: The Debt, Savings, and Investment Triumvirate. The strategy for saving, investing and paying off debt.
One time while browsing the forums, I cam across a poster asking what the proper way of saving was. I thought it was an odd question. I mean, saving is saving, right? Is there a wrong way of doing it?

It turns out the poster was actually asking about managing his savings. He's been reading up on personal finance and, like most of us, he was learning that we should have a fund for pretty much everything - emergency funds, funds for debt payment, fun funds, personal development funds, etc.

And it was a bit too much. Where do we get money for all of that? We'd have to be very rich or a very-high earner to fund all of that from just savings. And that's where money management comes in. And in this article, I'd like to share my personal money management strategy.

It's Not Bad To Be Rich; It's Just Bad For Bad People To Be Rich

In my opinion, a big stumbling block to achieving wealth is the belief that wanting more money, more profits, more assets is a character flaw.

As a society we don't have a problem suppressing or criticizing that attitude in individuals. And yet we turn around and celebrate that same attitude in corporations. We patronize big companies - "trusted brands" - by not only buying from them, but also by preferring to work for them.

But of course, the criticism stems at least partly from the selfishness of wanting more and also because wanting more for yourself is greed. The conventional thinking is that we should share what we have.

And you can't really fault that logic. We should share what we have. But, like everything else, too much kindness is also a bad thing.

Can I Take Out A Loan And Invest It?

Can I Take Out A Loan And Invest It in time deposits, bonds, or stocks? Is this a good idea? Personally, my answer is a quick and decisive "No." But this question actually had a twist ending. So let's examine it in more detail.
A while back, while surfing the various forums, I've come across several questions that boil down to: Can I take out a loan and invest it?

Personally, my answer is a quick and decisive "No."

But this question actually had a twist ending. So let's examine it in more detail.

Peanut Butter And Personal Finance

What does peanut butter and personal finance have in common? A lot it turns out:  Pay yourself first and invest before you spend. Don't keep spending your money on luxuries. You should enjoy, but it should be in moderation.
I love peanut butter. Especially Lily's peanut butter (Unfortunately, no this is not an advertorial. Though I wish it was:).

But did you know that there's a personal finance lesson you can learn from peanut butter?

Improve Your Focus

Improve Your Focus. People aren't multi-taskers; we just switch from one task to another. So if you want to make less mistakes, get work done faster, and generally be more productive it's best to focus on one thing at a time. In this post are four things that van help you improve your focus.
The most important asset of any investor or entrepreneur is time. Given enough time, even a small investment in an ordinary time-deposit account can become a huge windfall. 

And because we can't buy or create more time, we have to make sure that we maximize our opportunities today. But despite appearances, people aren't multi-taskers; we just switch from one task to another. So if you want to make less mistakes, get work done faster, and generally be more productive it's best to focus on one thing at a time.

So in this article, I'd like to suggest some things that can help people focus more and get more out on their time.

How To Reduce Your Investment Risk: Hedging, Diversification & Insurance

When it comes to investing, we're generally giving up a sure thing to earn more. But we don't always have to concede and just accept the risk. There are steps we can do to minimize them. And in this article we'll quickly go through some of the ways we can help protect ourselves.

One Morning In The Philippines

So this morning's commute was interesting. I was riding a cholorum shuttle (right spelling?; and no other legit transpo was available, btw), which was being driven by a police officer. No idea if the police driver owned the car being used as a shuttle - which was a Toyota Fortuner.

And the passenger in front had a son who was a policeman as well - so they naturally started talking. And so, over the morning commute, I got to know a lot about the police driver.

One Step At A Time

When I first started investing, one of my "plans" was to buy a lot of stocks and live off the dividends. But I did some  math after seeing that 5-10% is right near the top of how much dividends can be paid.  I realized that my plan would work only if I was already rich enough to invest millions.

Filing for Philhealth Benefits and Reimbursement

How to avail of your PhilHealth benefits and what forms need to be filled out. And how to file for reimbursement with PhilHealth
A few months ago, for the first time, I experienced being the one arranging the paperwork and payments in a hospital.

Plus, while going through the process I overheard one person who was not able to take advantage of his PhilHealth benefits. He was employed, and was getting the premiums deducted from his salary.

But apparently, their Human Resource department did not really enroll him and gave him the application number instead of a real PhilHealth number. I usually hear something like this from those working in agencies or doing manual labor. But this guy was from a BPO. He got asked by the guy manning the PhilHealth booth if he was working for a BPO, so I'm thinking this might happen more often than I think.

So I thought it might be interesting to share my experience and the info I picked up along the way and save people some headache (and money) in the process.

Can how we speak affect how much we save?

Can how we speak affect how much we save? It's very demonstrable that the language we use is tied very much to our culture, and by extension the way we think. Could it be that simple? Could our financial future be affected by something as simple as learning new terms and concepts?
If you've been looking around a few personal finance sites, a while back you might have noticed a lot of posts about money beliefs: old sayings, myths, truths, misconceptions, and the like.

They're fun to read, especially the authors' takes. But when one of the blogs I read posted the different Chinese proverbs about money, my first reaction was I didn't realize there were that many. And I thought about looking for all the salawikains we Filipinos have regarding money.

But in the course of doing so, I came across this very intriguing video from TED. And it raises a very intriguing question: Could our language affect our ability to save money?

Pay for Value

Value is one of the more complicated concepts we have. It can mean a lot of different things. Expensive shoes at 50% off is cheap according to market value. It might be priced just right, depending on its intrinsic value. But it could also be 100% over-priced if you've already got more shoes than you need. But I'm not saying we should just keep our money. What I am saying is to pay for value.
Value is one of the more complicated concepts we have. I've wanted to write about it for some time, but it's been very challenging so say the least. I mean, it can mean a lot of different things so I'm not sure where to start.