How I Get Out From Credit Card Debt?

Like most of the middle income employees in their mid to late 20’s I’ve been one of the victim of credit card debt too. Spending on things that I don’t need, using money that I don’t have. I’m a typcial woman who splurges … Continue reading

Proud to be Pinoy Now!

God is doing great things in our nation. I believe in the past two years and for years to come, Philippines will no longer be the tail but the head in terms of economic growth and development. With Aquino administration Long-term Development Plan of sustainable and inclusive growth in financial, agriculture and fisheries, infrastructure, sound governance, social development and peace, we are on the right track and we’re slowly benefiting from it.

This video report from Bloomberg says that PH ranks 3rd as fastest growing economy, next to Thailand (2nd) and China (1st). Who would have thought that we are now receiving recognition in terms of success in economic growth, aside from the victory gained by our fellow Filipinos like Manny Pacquiao, Shamcey Supsup, Monique Lhullier, Jessica Sanchez, etc. Let’s take advantage of this opportunity not just being proud to be Pinoy but by contributing to economic growth and benefiting from it. I encourage you to start investing in stock market or UITF. I’m just a newbie investor and still learning.
But before you invest learn from my on-line mentor Randel Tiongson (@randelltiongson) , Chinkee Tan (@chinkeetan) , Fitz Villafuerte (@brodfitz) and Marvin Germo m(@marvingermo). Learn from them too, visit their website and follow them in twitter, for sure you’ll also realize that investing is fun.

http://www.randelltiongson.com
http://www.marvingermo.com
http://www.chinkeetan.com
http://fitzvillafuerte.com

Decrease your Cash Flow

Here are some ways to decrease cash flow from Chinkee Tan’s “Till Debt Do Us Part”

  1. Change your lifestyle, spend less
  2. Be open-minded for other opportunities
  3. Save as much as you can
  4. If you have more, maintain your lifestyle
  5. Have a long-term perspective

And here are some applications i started out immediately:

  1. I try to bring packed lunch at the office as much as possible, i can save as much as 70 pesos daily or 1,400 pesos monthly.
  2. When i only have to buy few grocery items or pay bills, i do it within 15-30 minutes so i don’t have to pay parking. You can save 20 pesos by doing this.
  3. I also maximize Alabang Town Center’s free parking (it’s beside Cinema). You can save 20 pesos.
  4. Minimize eating out for dinner, i just eat at home instead. I can save 150 pesos/meal.
  5. Instead of watching movies at cinemas, i watch DVD at home instead.
  6. Instead of bringing a car going to school at UP-Manila, i just commute. I can save as much as 250 pesos for toll fees (SLEX) and 250 pesos for gas expenses.
  7. I started to pay-out credit card debts and have it cut. Tip: start paying your small amount debts then the large debts. Be sure to terminate your credit card account upon paying. Negotiate with your credit card companies to wave interest and give you flexible payment schemes.
  8. I avoided malls and going to my favorite brands on SALE, this way i’ll avoid buying stuff i really don’t need.
  9. I set a goal “I’ll be a millionaire in 5 years” so if i won’t change my spending and saving habits i cannot attain this goal.
  10. I started giving my TITHES faithfully and correctly 🙂 God promised to bless us abundantly if we honor Him with the first fruits of our crops.

Always think of long-term, the longer the term the better off it will be. – Chinkee Tan