Monday, 14 July 2014

Best Practical Tip on Savings

by Randy Tudy

I had fun reading the answers to the survey I conducted.  If you were one of those who responded, this article is the first response to the series of articles I will be writing.  If you have not participated it yet, click here to answer this ONE survey question.

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A good number of responses focus on their problem on saving money.  I remember when I was explaining this topic to my students. They were so focused listening to me talking about the power of saving.  But when I told them to start saving I got smiles and wondering looks.  I knew what was in their mind.  They were college students who were trying to budget their allowance. Some said, "My allowance is not even enough for me.  How much more if I still save?"

Again, I fully understood their reactions.  Then, I declared, "Whoever are the biggest savers will be exempted from our final examination."  Not only that.  They will also automatically receive a flat one in the final examination grade. 

I began to see glowing eyes, exciting faces.  As a teacher, I know how to motivate students.

They started saving January 3.  On March 3, I sat down in my table, got my laptop and recorded the amount of money they were able to save.  By the way, I asked them to bring their savings, hard cash.  After everybody presented their savings, I sum up the amount using excel.  

I can't believe what I saw.  The total savings of my students, about 45 of them, was a whooping 110,000.00 pesos.  It was a miracle!  How come these students who at the beginning said their allowance was not even enough were able to save that much in just two months?

Here's the secret.  Ready?  Do you want how the miracle happened?

No.  It was not a miracle.

Before they start saving I gave them a very simple assignment when they go home that day.  I asked them to write all their expenses in a week using the table below. After writing all their expenses or where their money goes, they will check on the other columns if they belong to a need or want.

My definition to a want and a need is very simple.  Need is anything you can't live without like food, clothing, shelter, etc.  Want is anything that can either be there or not.  It is something that will not let you die without it. 

I then asked them on the following session what they discovered.  Well, as expected, they discovered that they have wants.  I said, "If you can sacrifice some of your wants, there's no reason you cannot save."

That's all!  My students followed.  

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Now, what about you?  If you are still having trouble setting aside from your income, do what my students did.  Copy the table above and list your expenses.  Be honest of identifying wants and needs.

This simple exercise could change your life.  

So, the first lesson on savings is to sacrifice some, if not all, of your wants. 

If you find this article helpful, share this to our friends so that more will be blessed. 

Friday, 11 April 2014

Important Concepts When Day Trading Stocks

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As with any career discipline is important to have when working as a day trader.  You will have to create your own set of rules and guidelines and you will need to stick with those rules and guidelines.  As a day trader it is easy to fall off track and get side tracked by other things.  When you stop following your own set of rules you will find your focus will not be good and you will make errors. 
Having a strategy that works for you will be another key concept to success.  Not every strategy works for everyone.  When you find a strategy that works you should stick with that one until you become consistent before moving onto another one.  Many day trading professionals will recommend that you have more that one strategy when trading so that you can handle different trades when they come up. 
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Study And Review
Education is one of the most important concepts when trading.  When learning the field of trading you should study different types of trading and the strategies that go with those trades.  In order to be a successful trader you must want to prepare yourself for trading.  You might feel like you are overwhelmed in the beginning but it will get easier along the way. 
Keep A Positive Attitude
It is a well-known fact that people who stay positive have a good energy around them and that will allow for them to be more successful at what they are trying to accomplish.  Even if you are having a difficult kind of day you keep that positive attitude.  Having a bad day happens to the best of us.  However it is important how you handle that bad day.  You should not let a few things going wrong ruin everything. 

When entering the world of day trading you should be disciplined, study and keep a positive attitude.  By keeping all of the key concepts important to you it will be easier to succeed in your trading future by visit here.  By researching and finding yourself a good trading coach and mentor you will find that this will help you to stay on course and stay afloat while just starting out.  Once you learn the basics you will find that day trading can be a rewarding full or part time career.

Saturday, 8 February 2014

The New World: 4 Ways the Recession Changed the Financial Planning Industry

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          Ever since its inception, the financial planning industry has been, for the most part, a reliable industry in predicting the normally unpredictable behaviour of the economy. If the economy was a raging sea, the people that make up industry were the captains that braved that sea. However, the great recession of the mid-2000s has altered that. Now, years after the recession, the financial planning industry has to deal with changes that were left behind by the recession.

Risk Assessment

          There are several effects of the recession, and it is sometimes hard to tell if these effects are positive or negative. But from a financial planning standpoint, changes with the most impact come from a general perception that it can happen and it can happen soon. This puts an entirely new consideration when it comes to risk assessment. People asking for loans for their startup businesses are asked to provide more solid business plans. The equivalent is happening to individuals applying for credit cards.

          Banks all over the world have taken a huge hit due to the recession. Lending institutions have faced certain financial problems as well. Because of this, while certain necessary financial risks are being taken, those risks are highly calculated now more than ever.


          The losses people have suffered during the recession have affected relationships between clients and financial planning institutions. With a great number of individuals either coming close or completely losing their jobs and homes, earning a client’s faith is more difficult than it was during before the recession. While one cannot blame recession victims for the unwitting vilification of anyone even connected to financial institutions, this particular effect undoubtedly hurts the industry as a whole.

Potential Obsolescence

          The abject fear caused by the recession have pushed members of the private sector towards learning as much as they can about the financial industry, slowly making members of the industry itself little more than middlemen between the bank and the individual. This fear, along with the availability of information on the Internet, have people gobbling up all the information they can get their hands on, and this poses a danger to those in the financial industry.

          In an age of electronic banking and online transactions, financial experts, advisers and planners face the possibility of being obsolete. Loans and credit cards can now be availed without the help of a financial planning professional. While it’s true that browsing the World Wide Web for specific topics will never be able to substitute the years of schooling and mastering the craft, as well as the priceless contributions of real world experience, it would all be for naught if there comes a time that no one seeks out their expertise.

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Untrained “Experts”

          In line with what was mentioned above, the way the recession has brought upon an intellectual hunger for all things finance and savings to the general public, that hunger does not necessarily mean there is a more “educated” public out there. The amount of misinformation that can be found on the Internet only tends to mislead and further confuse people. This then would lead to communication barriers between financial professional and the financial novice, sometimes each armed with contradicting information.

          In conclusion, the biggest impact the post-recession world has made is basically the muddying up of the relationship between people in and out of the financial planning industry. Hopefully, despite the seemingly grave effects the recession has left, everyone can focus towards rebuilding for a better future and a more stable financial and economic state.

Author Bio:

Cristina Beltran is a writer for Compare Hero, Malaysias’ leading online comparison portal. Tina is also a freelance writer of several Singaporean sites. He worked as a Researcher before he started his writing career.

Monday, 3 February 2014

Understanding the Importance of Investing at an Early Age

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      While there is no ideal age to start making positive financial decisions, it is important to remember that the earlier you start, the better. Starting early when it comes to investing yields a lot of benefits that are not available to people who get in late in the game. This is not to say that starting to invest at an advanced age is not a good idea, investing your money always is, but it is an obvious advantage when you have a headstart. Here are some reasons why:

Investing Early Means More Time

        The obvious benefit of starting on your investments early is that you give yourself more time to save. The more time you have to save, the more money you end up putting aside. Having more time to save or make proper investments with gives you a better chance of achieving your intended financial goals as you have more time to refine whatever plan of action you have of achieving those goals and have more time to execute those plans.

        Looking at it from a purely savings point of view, with a longer amount of time you have to save money, you will be able to aim for a higher total amount of savings with less of the usual financial sacrifices as you only need to set aside relatively smaller increments at a time.

        There is truth in the adage that time is money. Essentially, more time allows you to explore more options and possibilities, and increases your chances of attaining your financial objectives. Investing early is a good way to assure your financial success simply because it ensures that you will have more chances to do so.
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Investing Develops Proper Financial Habits

        To tap into another tired cliché, it is hard to teach a dog new tricks. By the same token, it is also hard to unlearn old habits. By getting into investments early on, you get to instill some very valuable habits you will be able to utilize throughout the rest of your life. The truth is, we humans are creatures of habit. We are slaves to the things we are just accustomed to doing. From biting our nails to engaging in our morning rituals, our habits are hard to shake off. That is why investing at an early age works. It does not merely teach us to be responsible with how we handle our money, it makes financial responsibility a way of life.

Whether it is properly investing your money, knowing when it is wise to use your credit or debit card, or basically managing your day-to-day expenses in a practical manner, an early start in the world of investments and finance will train you in the wise way of handling money.

InvestingEarly Means Early Rewards

        By investing at young, you will be able to enjoy the fruits of your investments earlier and at a relatively younger age compared to other people who may have started their investment portfolios later in life. We need to take advantage of the situation as Philippines shows signs of economic strength.This may sound grim, but nobody wants to be at a point when they are too old to enjoy their hard-earned money.

        Starting early means you achieve your goals early, and if you choose to be content with that, you can walk away without any regret and spend your time basking in the glory of financial success.

Author’s Bio

Ryan Del Villar is a writer at Money Max, Philippines’ leading online comparison portal. Ryan is also a freelance writer at Helm Word, an Online Reputation Management company. He worked as an online video editor before he started his writing career.

Monday, 13 January 2014

How You earn Money through the Philippine Stock Market?

by Randy Tudy

Yesterday, I friend from Cambodia asked me on how to begin investing in the stock market.  He works there as an accountant of an international firm.  He would like to set aside a part of his income to invest.  After reading my blog, he becomes interested. 
For beginners, I usually recommend  to educate themselves first.  I suggest they read articles on my blog. I even created the Frequently Asked Questions section so that they can choose topics which answer their needs.  I also ask them to read books or articles about stocks.

The video below explains how the stock market works.  This is a good learning material for those who are still starting in the stock market. 

This is the second part of the video on how the Philippine Stock Market works.  This time you will learn how to invest wisely your money in the Philippine Stock Market.

Sunday, 5 January 2014

10 Practical Tips on How to Prosper without Losing your Soul

CLICK to get a copy here
2014 is going to be a blessed year for all of us…that is if you declare it and work to realize your dreams.  One time I watched a TV program about predictions for 2014.  The expert shared about what are the opportunities, good news and possibilities for growth for 2014.  It dawns on me that regardless of your sign, status or race blessings will come depending on your capacity to spot, receive and work for them.

This year I am also blessed to have published my first book in Kindle Amazon with the title “The Road to Prosperity:  10 Practical Tips on How to Prosper without losing your Soul”.  You want to get rich without losing your soul?  This book is a guide on how to prosper and be successful in all aspects of your life be it in finance, personal or spiritual.  God wants us to be wealthy.  He wants us to prosper to help other people prosper.  Having a positive mindset, clear goals and willingness to learn from the champions are some ingredients to success which are thoroughly explained in this book with practical examples. 

This book is available for FREE starting January 5-9, 2014.  Click this link

I hope you read this Ebook and I wish you a fruitful 2014 and beyond.

Wednesday, 18 December 2013

5 Prized Entrepreneurial Advice to Steer Clear from Financial Failures

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Great, or better yet, ground-breaking ideas can change the market, the industry and maybe even the world. However, many innovations cannot last long.

Take a look at Friendster, the most popular social networking platform back then. In fact, they even popularised the concept of social media. But after the company turned down a redeeming $30 million buyout offer from internet giant Google, Friendster gradually exited the social media scene and was never heard of again.

In the Philippines, companies that are in financial trouble seek solace in the country's bankruptcy policies andrehab. One of these firms is the insurance company Prudentialife.
Aspiring entrepreneurs might be wide-eyed at the thought of a potentially lucrative business idea. But without the right strategies, one could end up picking the pieces from their corporate ruins. You need to understand how important the following tips are in order to avoid financial and start-up errors:

·        Understand your market. An in-depth market research should become the top priority of every company. However, it shouldn't just be done during the start-up phase, but  periodically. We are in a fast-paced world and the needs and wants of the consumers can change. An intimate understanding of the market would allow you not to build ideas based on guesswork. A good market research and analyses will enable you to make sound decisions and calculated risks. With this, you may figure out if having a Makati business address will do good to your business as well.
·        Check out your funding options. Many individuals think raising capital will only mean either one of two things: gathering it on your own or seeking assistance from investors. While these two are necessary, you don't have to rely only on these two options. Get money into your business through other tried-and-tested funding choices such as strategic alliances for resources and crowd-funding.
·        Hire competent staff. No matter how good you are when it comes to the different skill sets of running a business, you can't do it all alone. It's incredibly hard to manage accounting responsibilities or do logistics on your own. From the start, you need to hire a support team. Although paying salaries could take a lump sum from your profits, you will be amazed at how a high-functioning team could kick-start your money-making venture. Plus, it will increase the capacity of your business to grow.
·        Create an emergency fund. This is not only applicable to individuals but to organisations too. A sufficient cash flow will prevent entrepreneurs like you on solely depending on lenders and lines of credit. You don't want to end up having a large amount of debt to take a portion of your profits.
·        Sacrifice your lifestyle. Starting up a business could mean quitting your day job. As a result, you may not be able to enjoy weekly meals at the restaurant or purchase a few luxuries. Although cutting back on personal costs is part of the change, other things you need to sacrifice include time and mental energy. Be prepared for a dramatic shift in your life in order for your business to prosper in the long run.
Above all, you must remember to be patient and disciplined. Overnight success is a fallacy. By following these basics, you can make your company grow and withstand any challenges while steering away from financial setbacks. The best of luck to you!

About the Author:

Regus PH is the Philippines' branch of Regus, one of the world's leading providers of business solutions. They offer serviced accommodation such as meeting rooms, video conferencing facilities and shared workspaces. They are currently based in the country's top metropolitans: Manila, Makati and Cebu City.