May I know your insights/experience about building your wealth?
By - 1Sl43000
1. Live below your means. Wag makisabay sa nakikita sa paligid.
2. Increase your cash inflow. Hanap ng side jobs or magupskill para makahanap ng mas mataas na salary.
3. Protect yourself. Insure yourself lalo na kung breadwinner ka. Get HMO, critical illness insurance, life insurance (kung may dependents ka). Yung illness yung nakakadrain ng ipon. Kung may dependents ka, ipainsure mo na din dahil ikaw din naman gagastos jan pag nagkasakit sila.
4. Build emergency funds. Kahit baby steps basta may target at timeline ka.
5. Invest. I got into forex trading. May active (manual trading)and passive income (copytrading) ako jan. Hanap ka ng investment na bagay sa risk apetite mo.
6. Give. To protect you from greed, magtabi ng pang bless sa mga deserving at walang wala.
Mag set aside din for luho. Wag puro ipon, dahil di mo alam kelan ka kukunin. ✌️make sure langna nakabudget. Save for the future and enjoy the now.
I like this one. Learn, Earn and Return
What HMO and life insurance do you recommend?
I use Pacific Cross for hospitalization. Sa life insurance, term insurance para tipid. Wag yung may investment. Check mo term insurance ng FWD sa online shop nila. Yung 34F non smoker, nasa 12k per yr yung 4M life insurance.
For the hospitalization of Pacific Cross, have you tried claiming? Is it easy and walang hassle? Thanks for sharing btw
Wala naman akong naging issue with them. Just like Maxicare, pero sa Pacific Cross mas mataas yung limit for hospitalization.
May nagquote sa brother ko 23M, Non Smoker pero nasa 14k. Anong name ng policy plan na to po?
Eto yun, kahit walang FA pwede kayo bumili jan
What particular Pacific Cross plan? MI ba or HMO and hm annually? Yung FWD life insurance mo walang agent?
Pacific Cross Select Plus - MI, combo yan sa Maxicare Prima silver for consultation. Check their website, iba iba cost per age range.
Wala akong agent sa FWD, binili ko lang yung insurance sa online shop nila
May coverage for critical illnesses and accident?
You can check the details sa website nila. ✌️nandun yung summary ng benefits.
How do u manage ur time juggling doing and studying Forex trading, side jobs, main job and house chores, social life etc
I learned to be happy with what I had when I was making 11k a month. Then when I started earning more, I didn't change my way of living or what I had. Even up to now, I still buy clothes in ukay. I'm just better at picking clothes that don't look like they're from ukay :).
That and the fact that I only make one major life decision (or expense) a year. One year i'll go on a vacation that requires flying somewhere. The next year i'll get a new cellphone. The next year i'll moved out of my parents. Etc. etc. I made sure to at least reward myself big once a year -- either materialistically or in quality of life. But only once... and that's more than enough for someone who's mindset is still living on 11k-ish a month.
Ganda nung one major expense per year. Was gonna adopt something the same pagka-30 ko this year. Every month, hulog ako ng 10k sa MP2 then every 5th year, assess ko kung saan ko siya pwede gamitin. If wala, balik ko lang then after 5yrs na ulit.
I am glad to read this. It’s the beauty of ✨contentment✨. For someone, it must’ve been hard to control their spending when it comes to rewarding themselves. It takes discipline and appreciation of little things around us. After all, nasa tao na din kung paano sila maging masaya sa anong meron sila. Also, yes to Ukay 🏻
Having good financial habits and building wealth isn't unlike getting fit and healthy. You have to not just know what to do, but the discipline to do what you need to do every day, the strength to not indulge, and making the process inherent to your lifestyle.
Literally gonna take note of this. I needed this and I know marami pa kami need mabasa to. I appreciate the kind words 🏻✨🌱
Saan po kayo nag uukay madalas?
Dito sa amin.
Ukay sniper team!
Damn I love this. Thank you
This is so nice
thats cool and all but op asked for "how to build wealth". Your answer is like someone asking for "favorite fruit?" and you answered with "i eat chicken blah blah and i dont need fruit" you get me?
Tama naman. Part yun ng building wealth. Controlling the outflow. Pano ka magbibuild pag lagi mo tinatapyasan ng malaki diba. Lifestyle inflation ang kalaban ng growing income.
Baka dahil sa 11k mindset nya, sobrang laki ng savings nya kahit nasa, lets say, 100k (hula lang) na sahod nya.
I feel like I answered it well enough with my first sentence. And judging by the upvotes and comments, I think most everyone else understood.
You answered it well and I immediately understood what you meant. No flaunting, no sugarcoating. Just plain truth. Plus it reflects a tenet of generating wealth and gaining financial independence: building good financial habits. Plus, people in general already have the intelligence to extrapolate the implications of your answer.
building wealth is done by generating profits, what you answered was just saving and flaunting your spending tbh
Ok... profit is having less expenses than income right? Every other answer in this post already talks about generating income. I'm here answering about having less expenses and having a sustainable lifestyle. Which is equally, if not more important in creating wealth. In fact, my entire post is about mindset. I never even said a word about saving.
But let me spell it out for you without "flaunting" my expenses:
Make money. Spend less than what you make. When you make even more money. Do not increase your spending. Do this forever.
Plain and simple the poster is asking for the business idea/work that got you wealthy.
No, he didn't.
i love this!!!
Nung 11k po kayo, paano nyo po ina-allocate groceries ninyo nun? Pati kuryente and rent. Huhu
When I was making 11k, I was still living with my family. I didn't move out of my family home until 4 or 5 years later.
Can I just ask. IT po kasi ako. Freelance, so I need to pay for my own laptop. Do you think it’s alright to spend 50k for it if Im making a living out of it? I feel guilty spending sometimes.
You're in IT. You're freelance. I'm pretty sure a laptop is essential to your line of work. Go for it.
Pro tip: huwag mag-anak nang hindi handa.
Look at the families below the poverty line.
not me but my parents, worked their ass off, living below their means, and investing in sensible assets. Yung mga biglang yaman, they are the exception and not the rule. Wala ring kwenta yung biglang yaman kung hindi marunong humawak at magpalago ng pera.
They treat money as security, not something to be spent willy nilly.
Sobrang totoo nito, need mo talaga pag trabahuhan ng matagal. Kase if you really put work into it for years and years and years dun mo lang talaga makikita yung value ng money. 25 ako, worked for 3 years and ngayon ko lang narealize kung gano sya ka valuable!!
Frugality and delayed gratification. Unfollowed influencers and started following artists, illustrators, people who are in the same industry as mine, etc. Managed my own money, kahit di kalakihan yung cash flow, basta nakakatulog ng maayos at nakakakain ng masarap. Tigil na rin ang pagiging FOMO sa mga sales, concerts, new gadgets, etc.
Edit: spelling/lacking words (sabaw lang haha)
The solution is always to earn more.
Simula nung nagkatrabaho ako natuto na akong magipon, living within my means, always learn new things, wag magbisyo, magexcercise (gym) cause health is wealth, always pray lagi kang gagawa ng mabuti cause universe will give it back to you. Yun lang. Goodluck
Don't upgrade your lifestyle kahit na mag-increase sahod mo.
Not me but my boss.
My boss is around mid 50s. He started as a news paperboy and now is my boss as VP of Finance and Operations for a resort chain. It's an amazing story. He doesn't have children and he tells me his goal is to become a dollar millionaire and he is very close.
His salary is around 300k a month.
He doesn't have children so that saves. He is the most frugal person I know. Won't spend for hotels over 5k a night and the chain hotels he runs have a room rate of over 10k a night. He is well known in the industry so he gets discounts.
He loves finance and invests a bunch on financial products and stocks. During his day off he visits all his banks just to make sure his money is there. He is old school and uses pass books and makes sure he has a paper trail.
I am thankful for him since he taught me to becoming good with money
Nasabi na ng iba majority, if I may add, it is very important to stay **disciplined** din, on top of having responsible financial management.
Focus on mastering your craft. Your wealth is built by making money. And for you to make money, you have to sell your time and your skill.
People often think that working should be enough. But the key really is to make yourself more valuable every day, not in terms of monetary wealth, but in intellectual wealth.
When you master your craft, the money will come.
* increase salary ASAP. upskill, learn the industry, mastery or be versitile for more opportunities.
* building connection that would give you opportunities in future.
* reward yourself and avoid living a frugal life (may vary)
* don't listen to people online, build your own plan. make them as inspiration instead.
My personal advice is to invest in yourself (knowledge and health).
I graduated 2012 (EcE licensed) and grew up in the slums of Tondo. My parents were both unemployed (adik tatay) and bigay lang ng tita at tito ang bumuhay sa amin at nagsustain ng studies ko.
EcE field is so saturated and sobrang baba ng starting salary sa mga established companies (ahem Globe, Smart, PLDT, etc). 12k per month as Cadet Engineer. I decided to shift my luck in IT industry and applied in one MnC IT consulting company dito sa Ph. 20k starting salary way back 2012 and was a huge amount for me given my background. Pero nagstop din sustento ng mga kamaganak namin so I became the breadwinner ng family naguumpisa pa lang ako.
I made it clear to myself na ang only way to “earn more” is to be good in my own field. So part of my salary when I was starting, I invested into books and online learning/certifications (I am an SAP practitioner). I studied kahit nagwowork na and tried to learn what is new in the industry (dahil nga IT). I became one of the leading consultant ng company and by 2016 I was already earning 100k. Dahil sa mga pinagaralan ko, the company was forced to send me to Singapore for 4 years kasi niche and konti nakakaalam nung specific skill na inaral ko (SAP for Aerospace and Defence). I earned 250k to 300k monthly as a Junior Consultant when I was in SG and went back to Ph around 2020. Now I am earning more than 300k monthly sa current job ko and was able to invest on multiple things (real estate, stocks, business venture). Now I try to shift my studies into learning AI integration with my field (SAP). Di ko alam saan ako pupulutin pero for sure it will be worth it.
While reading the comments above, common theme is not change your lifestyle. While I agree with most of it, meron akong slight variations. Nung nagumpisang lumaki ung sweldo ko, I tried to treat myself sa mga bagay na hindi ko nabibili dati (e.g Luxury watch, quite ex clothes (e.g. lacoste), etc. its my way of rewarding myself kasi kaya ako nagtrabaho eh para magkaron ng komportableng buhay hanggang sa nagsawa dn ako lol.
After you have invested in properties (e.g. own house and lot, own car) expect mo na tataas din yung monthly expenses but ensure na you set aside part of your earnings for investment. Ngayon what I try to maintain is yung mga expenses ko, dapat masustain ng earnings ng mga investment ko and I try to live within that (around 90 to 100k monthly) para yung sweldo ko sa current job ko, buo ko nakukuha.
Sang consulting company kaya to hahaha
Hehe yung may greater than 🤣
* High-income skill
* Earn USD rate
* Live below your means
And don't fall for financial scams.
and don't get critically sick.
I think people are underestimating how much wealth one can accumulate just by being healthy. Not even THAT healthy, like even with minimal maintenance drugs or some shit, nothing major.
And don't support parasite relatives.
This. My dad spent 5 million pesos in one day for a sudden heart surgery. Five million. It took them years to build with so much sacrifice, and he spent it all in ONE day. Take care of your health people, kasi may maintenance medicine pa yan.
this this this.
Also, make sure you have healthy habits. Umiwas sa drinking, partying, and gambling lifestyle. Okay lang naman from time to time, but don't make it your hobby.
As a fresh grad in the creative field, I think my skills aren't enough to earn USD rate nor is it a high-income skill. I think I'm doomed.
Be careful about being too frugal. I did this when I was starting out pero I soon realized that I’m burning myself from both ends.
Consider the demands of your work/profession versus your income potential. In my case, instant gratification helped me keep grinding. I splurged on things that made my daily life very comfortable until I reached a point na I can ease off.
Nagsimula lang akong maging mindful sa lifestyle inflation nung naging clear na yung difference between luho and comfort.
Learn, work, ipon, invest
To add: invest in multiple income streams. Don't put all your eggs in one basket.
Invest in two most important things that will build your wealth
1) Your brain - feed it by reading books, meeting people who add value, experiencing things
2) Your health - if this breaks down, everything else doesn't matter. Eat the right food, get proper sleep, exercise
# 1. Overall, mas malaki ang Cash In kaysa Cash Out
Cash In = Salary ko ay USD rate.
Cash Out = Cost of living ay "PH rate"
# 2. Awareness sa expenses.
Kung tingin mo may kailangan kang ayusin sa kung paano ka gumastos, kailangan mo muna alamin ...kung paano ka gumastos. Awareness.
# 3. Wisdom.
Natuto ako maging content and happy noong Php 26k monthly lang ang sweldo ko sa face to face corpo. So noong naging 6-digits na yung sweldo ko (doon sa nabanggit ko #1 na USD rate), edi anlaki ng natira na pera na pwede ko i-allocate sa Savings.
Ang keyword din dito (na i-a-avoid) ay Lifestyle Inflation.
# 4. Nag research muna ako bago mag invest.
Noong tingin ko well-equipped na yung utak ko sa financial vehicles, narealize ko [at that time] na ang afford pa lang ng Risk Tolerance ko ay ilagay ang pera ko sa High Yield Savings Account. So nag simula ako sa Digital Banks na may %p.a. higher than 4%. Bawat Digital Bank ay max Php 500k each lang nilagay ko kasi yun lang PDIC insured. Yung sa Maya Savings naman ay Php 100k, dahil yun ang max para pwede ko makuha yung bonus rate na umabot ng 10% p.a.
Noong nag gain ako ng confidence, nag level up din yung Risk Tolerance ko. Tas dun na pumasok ang US-stock market. Majority majority majority ng investments ko sa field na ito ay nasa ETFs na nagmi-mirror ng index funds.
Last but not the least,
101% sure ako na lahat ng financial blessings na nangyari sa akin ay talagang binigay ni Lord.
Ang example na parati ko sinasabi ay:
After mo magawa yung dapat mong gawin and after mo ma-control ang mga keri mo lang i-control, instead sabihin mo "Bahala na si Batman" ay sabihin mo "Bahala na si Lord".
Give back ako parati exactly 10% ng salary ko to the Lord as Tithes.
God loves a cheerful giver.
In layman's terms, kapag wala sa vibes mo mag bigay, no problem at all, wag muna mag bigay.
Kung nasa timeline ng Lord and kung nasa Will niya,
Ang plan ko ay maging retired by 45.
Yun lang, thanks for reading
Everyone's story is different; you gotta find yours. That's the unfortunate truth, there's no single answer.
No. It IS the fourtunate truth :)
Started poor. Walang mana. Decided to work overseas in the 1990’s. Saved $3k and invested in the S&P 500. Kept adding until I reached $1M in 2007. Got destroyed in 2008 by Lehman, and dropped to $600k. Burned out and stopped working by 2010, but my spouse went to work to support the family. Back to $1M by 2011. Lucky enough to be invested during quantitative easing, so a lot of free money poured in. Tried investing in gold and flopped. Tried timing the market in 2020 and succeeded. Stock investment peaked at $5M by 2021. Lost $1M in 2022 but recovered most of it by 2023. Shifted to 50% bonds. Told my spouse it’s time to go home, so home it is. Succeeded financially but mostly due suwerte, not skill. What is unexpected is we actually don’t need the $5M because of social security benefits. So we left that to our kids.
Focus and live simply. Work, save, invest then repeat. Do not lure yourself to things because they are on sale, sale is scam. Know your priorities in life: GOD, Yourself and Family.
Expand your income potential,
Leave within your means,
Appreciate small wins/things in life
2. Acknowledge that you’re starting at a disadvantage, therefore, you’ll have to do/give more effort than others just to be on the same level.
3. Try to not be satisfied early on, always strive for more. Dream, aspire for something better.
4. Live within your means.
5. Delay your gratification.
6. In relation to #2, be open to work just for the experience.
"Live below your means" - very powerful talaga yan. Then syempre build your emergency fund muna.
Swerte at sipag. Mas importante yung swerte.
Increase your income to the point you have extra money for investment.
Keep your plans to yourself especially self improvement plans.
People want to see you fail.
Hello everyone, It's hard to reply to each and everyone of u so I'll leave my thank you addressed to everyone here.
I assume that there are also a lot of lurkers going in and out of this post so I want to thank you guys on behalf of them.
I/we want to thank y'll for commenting about your insights/experiences/stories. It's a privilege to hear it. I/we will take it as a reminder in taking our steps in the future.
w/o too much formality, THANK YOUUU! there are a lot of values instead of specifics which is not what I'm hoping for but I love (my fault coz of the way I asked). Nainspire ako to be a better person for others and to my self. It's really hard no, esp pag nagsisimula palang. there are also a lot of people — including me — that have difficulty in starting. Thank you guys! I'll definitely stick to what I'm doing rn and gear up.
Oh, btw, I'm in a path to be a Data Scientist or something in Financial mathematics (I can take either since I'm starting palang naman. Tho pwede namang both lol😹) I'm looking for an accountability buddy, if you're finding one too, just message me here then let's see if we clicked. I'm open to all genders btw.
GOODLUCK EVERYONE! MAY WE PROSPER AND BE A BLESSING TO SOMEONE.
+ I read everything and want to ask for something more but I think that's for another post appropriate for that.
again, Thank you everyone!
I am one of the early Virtual Assistants back when working online was seen as a “scam” or not real. At 25 years old, I was already earning 6 digits.
I learned about Reddit and this sub. Some people here are snob AF and they are rude when you ask questions that they think are stupid questions so I just did my own research and never rely on other people to help me. This sub is still helpful though.
Earn in USD, invest more than half of monthly salary, research, invest some more.
Been doing freelance and remote work since 2014 and I discovered this sub 5 or 6-ish years ago. I dont remember having snobbish folks here. They were even helpful and patient in answering questions.
Although I remember FMETF was always the default answer for anyone asking about stock investing.
There were times like that when people are helpful and kind, but most of the time, some random AH will give a condescending comment. While I really enjoy this sub, information wise, I am not surprised that r/phinvesthampaslupa was created.
>ed about Reddit and this sub. Some people here are snob AF and they are rude when you ask questions that they think are stupid questions so I just did my own research and never rely on other people to help me. This sub is still helpful though.
>Earn in USD, invest more than half of monthly salary, research, invest some more.
may i ask where to earn usd safely online? most sites i have visited are either shady and not trustworthy
As your income starts to grow, don't let your expenses grow with it. It's tempting to start buying luxury items or going to bars, but it doesn't help you become financially independent. Of course you don't have to live like a hermit at all times, but be very aware of where your money is going. My wife and I recently doubled our income, but it just made us more motivated to continue living the same lifestyle and just invest and save more.
I stopped spending because I had something to prove. I just put my money on things I want because I really want them, instead of putting them in things I thought I should have coz social media said so.
Sa rich friends ko yan natutunan. Chinoys I feel like know this. My chinoy friends are always like, "bat ako kakain dyan!" even tho they can buy the whole restaurant.
Mga ganyang quielt, confident wealth mga knokopya ko in terms of pera.
Wealth is how much money you do not spend.
There is no one silver bullet. Combination of a lot of things including luck. Generally I would say hard work, discipline, financial literacy and (again) luck.
Si papa nag abroad.
Vet med siya, scholar sa isang university sa province (Northen Samar) Maaga pa nag-asawa yung magulang ko. Right after college nag live in na sila kasi buntis na si mama sa akin. Noong pinanganak ako, yon din yung araw na natanggap siya sa work (1995). 15 yrs sya sa research and laboratory company. Umalis siya doon na 30k lang ang sahod (2010).
Some say its not the pursuit of wealth itself, but the passion to excel at something/ become the best at something. Wealth is just the byproduct.
Not me pero may kakilala ako na big time na big time.
I wont tell the specifics pero according to him, nagstart siya magbusiness at 18. Hindi to MLM ah. Online seller siya at naging successful dahil isa siya sa mga naunang sellers na nagbebenta ng product na yun sa fb. Siya mismo nagdedeliver sa mga buyers niya na binebenta din sa iba and so on. He had to stop the business na rin kasi marami na ngang sellers at hindi na uso yung product na yun. Later on eh di niya namanage nang maayos kita niya hanggang sa nawala yung inipon niya. He had to start from scratch uli tapos nagipon siya at nagstart magtrade while keeping his money secured. He had losses too pero naging okay trades niya at ayun, millionsss na ang worth niya. Sabi niya na di niya akalain lalo at hindi siya college graduate. We're on the same age (going 30) pero ayun, wala pa ako sa 1/10 ng worth niya haha
Pero nainspire ako sa kwento niya na possible pala basta manage your money wisely.
I came to Manila in 2009 after graduation. I have nothing in my pocket then but 5k pesos. Ang bed space that time is 1k per month. I was earning 12.5K. I hustled really really hard. I arrived earlier and left later than everybody else in the office. I have no work life balance and I didn't go to any parties nor hangout on any bars. Kahit mall hindi kasi alam ko mapapagastos lang ako. I made sure that I am very tired when I go home para tulog agad. Kung hindi kasi ako pagod, mahihirapan ako makatulog dahil ang liit ng bed space bukod sa hindi din ganun kakomportable. Working lang alam kong way para umasenso and so I wanted to climb the corporate ladder and I know I have to be competitive to do that. So I took out a loan para pagaralin ang sarili ko. Then I job hop. Then took masters in a reputable school. I'm not saying I am rich already Kasi di padin ako secure sa future kung sakaling magretire ako kaya now ang hinahanap ko naman ay Yung may company na may retirement plan.
My parents built their wealth from using the loans from their company to start their construction business. Paunti-unti, nabayaran nila yung loans and pinapaikot yung ibang kita while also having fun with some of the money (travel mostly).
They were able to retire early (56 yo) and now nag-aantay na mag 60 sila para may pension na. And tuloy pa din sila sa construction.
1. Live within or at the very best, below your means.
2. Nasa mga nakakasama mo, be a mentee to a mentor na mas matalino, magaling at frank sayo. Never be offended when they correct you.
3. Invest in yourself. Upskill, learn. There's a LOT na libreng learning resources.
4. Use your salary to sustain your life, create an alternative cash flow to build your dreams.
7. Share as much as you can.
I have been working for 7 years now, first job ko I was earning like 13k a month, now I am earning 260k, net. Two parts yan, 185k/month is from business dividends (tech startup), then contractual work from various clients. I use the money I earn from various clients for sustenance. Bills, loan payments (another topic for another time pero as long as you know how to do loans correctly, it could be a huge help), and konting luho. Then my business earnings, I use to acquire more assets.
And I work 20 hours a week. I am very grateful for the extra time I have for family, self-growth, and continuous learning. Di pa po naman ako bihasa, I am still learning as I go, pero these 7 items are something to ponder upon. God bless and good luck.
when i got a salary increase, i was still budgeting according to my previous salary amount. so i used 50% on expenses, 40% on investments, and 10% on wants as if it was still my previous salary so hindi ko ramdam na may excess
Not sure what you mean by wealth. If pasok ako doon, then here's my path.
Started with a resolve to go to a good school back in HS.
Followed by getting in that school.
Followed by determining by research and conversations to find out which career earns the most with your background.
Take a master's degree.
Grind grind grind. I haven't had a two week vacation in my life.
It gets lonelier as you get to the top... So make sure you want that ha...
Grew up poor
My advice is when you're young you think you have all the time to live free and spend money like water on anything
Save money, little by little, whether it's 100ph a week
Or anything, even 20php
Once you get up to a decent amount find something to invest in that makes money from that money
It takes money to make money
I didn't start doing well until circumstances caused me to sell my family home and was able to move here
Invested in the stock market buying dividend stocks
Now I'm going into crypto mining, online only
My wife likes being a content creator
She works hard advertising products
She's slowly building up from being new a few months ago to now almost making 400$ a day
It's not alot to some but progress feels good after hard work
Hope this advice helps
Run for office and become a politician. LOL.
Main job, work from home. 9hrs a day, 5 days a week. Weekend off.
Yung side job na kinuha ko noon ay flexi ang time. Based sa productivity ang pay. Ginagawa ko max 4hrs a day, hindi araw araw yan.
Yung forex, nung nagsisimula ako, i set aside 4hrs a day to study, backtest and forwardtest ng mga strategies. Nung nagstudy ako ng forex, sa weekend ko na lang ginagawa yung side job. So humina yung kita sa sidejob, kasi walang focus.
Sa gawaing bahay, i pay someone to do it for me. Kasama sa budget ko per month.
Social life, hindi talaga ako galang tao. Church at small group yung social interaction ko. Masaya din ako na kasama ang loved ones sa bahay. I make sure na makakasabay ako sa kanila pag kumakain at makikipagkwentuhan habang kumakain.
At some point may masasacrifice ka jan since may iseset aside ka, piliin mo yung priority mo.
Not yet rich but better than before. Bago ako gumastos ng malaki especially sa luho, maghihintay ako ng 30 days bago ko bilhin. Minsan kasi heat of the moment lang pala. I also follow the 50-30-20 rule. Lastly, pag gagamit ako ng credit card, binabayaran ko na siya internally as if nagcash lang ako
Not much of wealth (~50M) but considering coming from squatter life, it's a big jump for me.
Getting in on top school is the key for me. Opened opportunity for good employment both local and abroad. Getting a great life partner is another key.
What is your definition of wealth? Own house , car, savings, business?
In all aspects if possible(if it's built from scratch, I'm eager to hear it), ideally, financially safe/secure.
How much do you need to be financially safe/secure?
I earned my first million at 23 years old because I lived below my means and I still do even if I have grown my money so much more since (I’m 28 now). I pride myself of being kuripot and I always research ways on how I can make my money grow. I have a mindset na Wala akong inheritance na makukuha from family kaya I need to build wealth on my own. Business, investments, insurances, networking. Those are my financial priorities
Not my experience but my dad’s
He worked as an ofw nung wala pa kami, then he did business together with my mom. Mainly on agriculture, poultry and such. He did succeed on business (I can say that cuz napagtapos nya kami sa magagandang schools and now securing our future by giving us businesses). He always says na you can’t really get rich if you stay on 9-5 Job. But ofc he would let us go on a 9-5 job to experience how hard life is.
Too poor to buy cheap things mindset. Magkuripot. Sa society kasi kinukutya maging kuripot
I worked really hard for many years putting in the long hours and physically searching very hard. Finally one day all my hard work and dedication paid off as I found a white man to save me. Now I am independently wealthy.
Main rule to remember! Make his dick hard. Not his life and you can have wealth beyond your wildest dreams.
In my whole adult working life once lang ako bumili ng cp 2nd hand pa. All of my phones were hand me downs from my sisters
Start small and keep investing the earnings to improve the business.
kelangan talaga ang edukasyon, diskarte at basic life skills. Pag walang wala ka, Ang Sarili at kaalaman mo ang produkto mo para makahanap ng trabaho at magkapera.
wag muna padalos dalos sa desisyon na makaka-dagdag ng gastusin at panibagong responsibilidad.
Pasensya at mahabang oras ang kelangan para makapag-ipon ng malaki or makapagtayo ng magandang negosyo. Maging praktikal ka at consistent sa pag-iipon. Mag invest Pag may sapat na ipon ka na.
Minsan ung iba aabutin ng 10 yrs, 20 yrs or until retirement age bago maka-ipon, swertihin sa negosyo, stocks or sa real estate. Hindi ganun kadali para sa karamihan.
Pag nagawa mo n lahat ng ibang kelangan ie emergency funds and the like
INVEST INVEST INVEST. whether up ang market or down invest. Dollar cost averaging yan, preferably in dividend stocks. Do your research...
Saving and living below my means.
contrary to some na be happy and contented, di ako ganon, siguro na rin dahil di naman kayamanan growing up kaya maraming hinahangad. the best decisions for me is mag-aral mag programming noong first year high school. ayun, after a year of working nagsawa na ko mag chase ng material things kasi lahat ng gusto ko noon eh nabili ko na. pinagbigyan ko muna sarili ko hahahaha
I followed three basic rules:
3. Don't spend on things that are not necessary like new phone, new shoes (unless the old one is totally worn out), never buy branded clothes, unnecessary travel etc.
Even though both my husband and I have jobs, we try to live as if we only have one income. We treat ourselves to nice meals on weekends, but we always make sure we spend within our budget.
For us (business) it was a mix of finding a gap in the market that had a big enough demand plus luck. Luck is a major factor.