Money

Maybe you are holding a full time job but need more money than you’re being paid. Or you are unemployed and can’t find a job. Or you want a good income but not a BOSS. Or you are simply one of the millions of people that have come to realize that having a JOB is just not the answer. That no matter how good and determined you are, you are still on the rat race, running madly but not going anywhere. You know you want more than this. You know there’s got to be a better way.

You're RIGHT!!!

The bad news? According to Robert Kiyosaki, it is not your boss's job to make you rich, it's your job. The good news? You can make yourself rich during your spare time.

Let me say that again, you can make your self rich in your spare time.

You could get more out of life.
You can change your fate.
You can control your income.

Here are just some ways I found along the way. These are not get-rich-quick schemes. These require some work and patience. You have to be willing to learn the systems and apply them.

REMEMBER:
1. These are NOT JOBS. They are LIFESTYLES. Pick one that suits you.
2. These are NOT INDIVIDUAL efforts. They involve working with a team and leveraging on other people's effort, time, knowledge and skills. We can not do it alone, but together, nothing is impossible.

WHAT, WHY and HOW MUCH?

A lot of books deal about HOW- how to start a business, how to trade stocks, how to make money from real estate, etc. While these knowledge are essential, it's not enough. Knowing HOW is just a small part of the equation. What's more important is the WHAT, WHY and HOW MUCH.

WHAT do you want? What are your dreams? What are your goals? What are your plans? What are you doing to achieve them?

We have to know what we really want. Everybody wants to be rich. Everybody wants to amass wealth. Everybody wants financial freedom. I keep hearing these that wanting them starts to sound kinda average. While a lot of people were affirming their wants and betting their way to get it through the most popular investment scheme in the country, the lotto, I was desperately searching for that one, elusive answer to reach my dreams. Unfortunately, I kept failing. The more I failed, the more I doubted my ability to know what I really want.

In his bestselling book, Rich Dad, Poor Dad, Robert Kiyosaki wrote the first step to financial freedom is to have a reason greater than reality. It is not enough to know what we want, we have to know our "WHY." We need to be clear about why we want something.

After some soul searching, I found what I want and why I want it. Yet it didn't make things easier. I still kept jumping from one business to the next. After hearing some stories from successful people at IMG, I realized I kept failing because I wasn't persistent enough. I always knew I had other choices. I can drop any project anytime. This prevented me from giving my best to a single endeavor. My HOW MUCH wasn't enough. People succeed because they persist. We have to want it bad enough in order to win.

CHANGE YOU

Getting rich begins with the right mindset, the right words, the right plan.

-Robert Kiyosaki

We can only change our lives if we change- ourselves and our mindset. A lot of people hate their jobs. Some feel that they are not being paid enough. Yet they stay. Yet they are too busy to look for a new one or to find something to augment their income. The problem with Filipinos is not the lack of opportunity, it's the lack of drive. A lot of people want to be rich, but they won't go the distance. They are not willing to pay the price. They would rather shop, watch TV or sleep.

We had a convention in Tagaytay last August 15, 2008. Bo Sanchez was at the lobby (Taal Vista Hotel). He joined our group and attended the IMG Summit, not as a speaker but as one of the participants (He sat infront, listened and took notes like everybody else).

Later on I learned how Bo got involved with IMG. I was amazed because it was so simple. He sat next to one of our leaders on a plane, they had a conversation. He invited Bo to attend the seminar. He came to the office, attended the seminar and joined (and he refer us to his readers and seminar attendees). So simple.

As far as I know none of the people I invited are as famous, rich or busy as Bo, but I had to plead and still get all kinds of excuses. It’s disappointing but I guess I can not help people who won’t help themselves. Bo knows how to say yes, he makes time and he is open to ideas, that’s why he is truly rich!

Xuan Nguyen said the middleclass are the hardest to change. They are comfortable where they are. They are voluntary prisoners of their average lives. They have dreams but won’t go the distance. They are content where they are.

The middleclass-
Top of the bottom,
Bottom of the top,
Cream of the crop?

LEVERAGE YOUR MIND

Before anything else, before taking any step, learn the rope. Find a mentor. Associate with financially knowledgeable people. Invest in your knowledge first before jumping the gun, it could save you a lot of trouble and money in the long run. I enrolled in a technical analysis class once and found that most of my classmates are there because they are losing money in the stock market. People have the tendency to act only in retrospect. It is better to be late than never but we don't have to fail in order to learn.

There are lots of organizations and individuals giving seminars out there. Here's one:

FREE Financial Management Seminar by Wealth Academy








Series 1: Financial/Wealth Management: How to Increase Cash Flow, The Law of Building Wealth, The Rule of Money, The Wealth Formula, Fundamental of Investments, Putting the Allies of Wealth to work on Your Side, Overcoming the Enemies of Wealth, How Money Works? How to Get the Highest Potential of your Money?

Series 2: Creating Multiple Income Streams: Breakthroughs and Innovations in Financial Solutions, Creating Multiple Passive Income Streams, Be your Own Financial Expert, Investment Vehicles, New Concepts of Making Good Money

Series 3: Financial Planning & Management Workshop: Goal-setting, Financial Check up & Need Analysis, Coaching & Mentoring, The “Investible” Fund, Fortune from Small Change, Statement of Income & Expenses, Statement of Assets & Liabilities, Estate Preservation. Etc.

Other topics:
Series 4: Finance 101
Series 5: Building Big Business
Series 6: Winning Principles
Series 7: Train the Trainers
Series 8: Investment Strategies

REGULAR SEMINAR SCHEDULES:

Monday to Friday : 9am and 2pm (by appointment)
Wednesday and Friday : 7pm
Saturday : 2pm
Note: Schedules may change without prior notice.

VENUE:
3/F King's Court 1 Building
2129 Chino Roces Avenue
Corner Dela Rosa St.,
Makati City

For more details, please contact:
Edmund Lao
mobile: +63917.326.2077
email : edmund.lao@gmail.com

INCREASE YOUR CASH FLOW

You have two choices in life.
1. You can shrink your dreams to fit the size of your income.
2. You can increase your income to be able to afford your dream.

There are ways to increase your cashflow. Here's a list (Note: These are the author's recommendations based on personal experience. Results depend on individual's efforts).

1. Get a part time job.

a. Join IMG (International Marketing Group). Why? Because it does not require capital investment; you learn while you earn and it is the only business I know that teaches people how to save (instead of spend), invest and become financially free.

International Marketing Group is one of the biggest and fastest growing financial distribution companies in the US, Canada, Taiwan, Hongkong, Philippines and going worldwide. IMG has established agreements with many of the world's leading financial services companies to provide us a broad array of financial products & services. IMG will help you comply accreditation and licensing requirement of all its Product Provider Companies. Multiple companies (Multiple products) will help you get the best product...Best service ... Highest Rate Of Return.... Diversify investments, etc.

It provides a great opportunity for individuals to become entrepreneurs and build their teams.

CALL Edmund at +639173262077 or email esmuns.lao@gmail.com for more information.

b. Join a bona fide MLM (multi level marketing) company. MLM gives everyone the opportunity to own a business without investing a lot of money or going through the trouble of building a business system from scratch. With MLM you invest only small amount of money and you get the benefit of a proven effective system. MLM offers the leverage of other people's time, effort and money without additional cost from you, something you can not do with other businesses.

I know a lot of people don’t want to get into MLM probably due a bad experience with fly-by-night networking (pyramiding) group they have joined or heard about in the past. The key is to research the group before signing up, call DTI hotline at 02.897.7384 and inquire about the company or choose a company that is a member of the DSAP (Direct Selling Association of the Philippines). Not all DSAP members offer MLM though; some of them only offer commission-based distributorship so you have to find the right company with the right product.

c. Join PTC/PTR sites
There are thousands of PTC/PTR sites. It's for those who have time to view ads (for 15-30 seconds). The pay outs are not that big ($0.01 to $0.02/click) but it's FREE to sign up and it's easy to do- just view the ads (links/email) and refer others. They have minimum payouts, so you have to wait till you reached that amount. Here are some of the sites :

ThinkBux
Per click : $0.01
Referral: $0.01
Minimum Payout: $2
Payout : via Alertpay/Paypal

Buxvisit.net
Per click: $ 0.01
Minimum payout: $ 10.00


lifebux
Per click : $0.015
Referral: $0.015
NO minimum Payout!
Payout : via Alertpay

neobux.com
Per click : $0.02
Referrals click : $0.01
Minimum cashout: $2.00
Payout : via Alertpay

Click fantasy
Earn up to €0.025 per click (30 seconds)
Earn up to €0.015 per referral.
Payment through PayPal.

ClixSense
Per click: $ 0.01
Minimum payout: $ 10.00

Xclix.net
Per click: $ 0.01
Minimum payout: $ 10.00
Croclix.com
Per click $ 0.01
Payout $ 5

Angelbux
Per click $ 0.01
Payout $ 10

Ten-ads
Per click $ 0.01
Payout $ 7
d. Join Social Networks and affiliate programs

YUWIE...where it pays to socialize

Okay. Let's have some fun. Do you know that you can get paid while socializing in the internet? Here are some ways where to get earn money for something you are already doing.

Yuwie, the first social networking website that pays it's users. Like any other social network, it includes features like email, customizable profile, blog, videos, pictures, clubs, etc. But unlike other networks IT PAYS IT'S USERS.

How?
1. It pays you when your stuff is looked at
2. It pays you when you refer friends.
PLUS, it's 100% free.

Mylot is another networking website. It offers customizable profile page, discussions, news, blog articles, photos and private messages PLUS you get paid every time you use myLot!
It's easy, just sign up and start discussions, post responses or comments to current discussions, news or blogs, or refer friends!

DirectMatches, the business space
This is a networking site for business people. It offers email, blog, a chance to network with people of the same business interest and seek new oppurtunities. You can open an account for free but to earn sales volume commissions, you have to upgrade your membership (which means paying the membership fee. It's a nice site for establishing business connections and seeking oppurtunities. Everybody's into something interesting. There were so many opportunities, I got blown away. Whew!

You can sign up for free but to get commisions, you have to upgrade your membership and pay the membership fee. Well, if you want to check out the site, CLICK HERE.

e. Join referral and affiliate programs.

Here's something for the computer buffs. If you love sitting infront of the computer all day and have time to watch videos (but hey, watch your back, Boss might drop by. The idea is to FIRE her/him when the right time comes [read: you are ready; your passive income is enough to cover your expenses] not to get fired!!!), this one's for you. I'll be discussing other online streams (in other posts) but I'll do this first because it's easy to do. Just watch the video and it will guide you every step of the set up. Plus it features 22 streams of income (including google adsense, google adwords, yahoo search, global domains international, yuwie, etc.). You don't have to go searching for internet programs you can join, the system found them for you and it will help you make the most of these programs.

KNOW HOW MONEY WORKS

LIVE simply. Live below your means. If you can't live below your means, increase your means. But the bottom line is, always have something EXTRA to pay yourself (before the bills and everything else) at the end of the month.

In The Richest man in Babylon, George Clason wrote, A PART OF ALL YOU EARN IS YOURS TO KEEP.

According to this book, there are 7 CURES for a LEAN PURSE

1. Start thy purse into fattening.
For each ten coins you put in, spend only nine.
2. Control thy expenditures.
Budget your expenses that you have coins to pay for your necessities, enjoyments and desires without spending more than 9/10th of your earnings.
3. Make thy gold multiply.
Make money work for you.
4. Guard thy treasure from loss.
Invest only where the principal is safe...consult with wise men. Secure the advice of those experienced in the profitable handling of gold. Let their wisdom protect your treasure from unsafe investments.
5. Make of thy dwelling a profitable investment.
Own your own home.
6. Insure a future income.
Provide in advance for the needs of your growing age and the protection of your family.
7. Increase thy ability to earn.
Cultivate your own powers, study and become wiser, be more skillful and act as to respect yourself.

Saving is not just taking aside a portion of your income. It has to have a purpose and we have to stick to that purpose. We have to distinguish EMERGENCY FUND from INVESTIBLE FUND.

Emergency fund is something we set aside for emergencies, something we can cash in anytime. Investible fund is something we set aside for the long term. Our investment should grow on itself and be able to provide for us when we stop working.

Where to invest?

a. MUTUAL FUNDS

A mutual fund collectively pools money from individual and corporate investors. These funds are managed by a professional fund manager who invests the money in stocks, bonds, money market instruments, and/or other securities. The mutual fund earns in two ways: from the capital gain (increase in value) of the security and dividend or interest income. These proceeds, net of whatever charges and expenses, are passed along to the shareholders. The value of a share of the mutual fund, called the Net Asset Value (NAV), is calculated daily based on the fund's total value divided by the total number of outstanding shares.

There are mainly four types of mutual funds in the Philippines: stock (or equity), bond, balanced, and money market. Stock or equity funds invest in shares of stock of Philippine corporations listed in the Philippine Stock Exchange. Equity funds offer the highest possibility of growth among all mutual fund types, but they also have a corresponding high amount or risk.

Bond funds invest primarily in fixed-income securities such as bonds or treasury notes issued by the Philippine government and commercial papers issued by reputable Philippine companies. Because these bonds are normally guaranteed, the possibility of loss is very low. Investing in bond funds provide capital preservation while maintaining conservative asset growth.

Balanced fund is a mixture of equity and bond funds. The high potential growth of equity investments is tempered by the conservative growth of fixed-income securities. Obviously, the return of a balanced fund is normally somewhere between the return of an equity fund and a bond fund.

Money market funds are similar to bond funds because they also invest in fixed-income securities and the growth of the fund is conservative. The main difference lies, however, in the term of money market fund investments, which is usually short-term such as one year or less.

Choosing which mutual funds to invest in ultimately depends on the investor's growth goal and risk tolerance. If the purpose is capital growth, equity funds are the way to go. Bond funds are chosen, on the other hand, if the investor prefers capital preservation over risky capital growth. For those who want medium risk and medium growth, balanced funds are the best option. Money market funds are for those who wish to earn a conservative amount of return in the short-term.

According to the Investment Company Association of the Philippines, a duly recognized association of investment companies in the country, there are currently a total of 22 mutual funds. Six (6) of these are bond funds, five (5) are equity funds, ten (10) are balanced funds, while one (1) is a money market fund. (Source: http://www.pinoymoneytalk.com/2006/09/11/introduction-to-philippine-mutual-funds/)

b. UITF
A unit investment trust fund or UITF is a banking product that replaced common trust funds (CTFs). It is managed by the offering bank’s treasury department or group.

c. STOCKS
A stock market, or (equity market), is a private or public market for the trading of company stock and derivatives of company stock at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.

NOTE: Investing can be a risky endeavor. Get a broker you can trust (who would put your best interest first before his/her commission) or learn the trade yourself. Don't know where and how? Wealth academy offers seminars on investing. Text/call edmund at 09173262077 for more information.

Be your own broker!

Every time you buy something, somebody is making a profit. Everyday, every month, your hard-earned money goes to other people's pockets. When you buy a house, you lose 2-5% of the cost on commission. When you pay your health care, life insurance, car insurance, fire insurance, pre-need insurance- you pay your agent. When you invest in mutual fund, you pay your broker. When you put money in the bank, the bank profits but you are losing it's worth due to inflation. Isn't it time you make money instead of paying someone else?

Eliminate the middle man. Be your own broker. Be your family's broker. Be your company's broker. Be your neighbor's broker. Be your friend's broker. HOW? Attend the Wealth Academy's FREE financial course and we'll help you get accreditation, prepare for your financial future and grow your career.Your only competition is your own will to win!!!

College degree is not enough to become financially successful, you need Financial Education.

You need to set goals for your money because others are setting their goals on how to get your money.

If you think FINANCIAL EDUCATION is a waste of time & money, TRY IGNORANCE!

Edmund Lao
Mobile +639173262077
Email edmund.lao@gmail.com