Strategic Costing Method

We are all familiar with Average Costing Method, which investors recommend as one of the best strategy to ensure you win in stock market. According to,  Cost Averaging Method is  costing method by which the value of a pool of assets or … Continue reading

The Ultimate Source of Wisdom

If you are into financial management i guess you already read one of the books of financial coaches – Dave Ramsey, Warren Buffet, Robert Kiyosaki. Yeah, they give practical advise on savings and investment. But I agree with financial  guru Randell Tiongson that more than the wisdom we can get from self-help books we can great source of wisdom from the Bible.   The author of broken mindset shared a blog where does financial gurus get wisdom.

Randell Tiongson’s Bible verses that affect our daily lives:

On work – “Lazy hands make a man poor, but diligent hands bring wealth.” (Proverbs 10:4, NIV); “Go to the ant, you sluggard; consider its ways and be wise!” (Provebs 6:6, NIV)

On handling money & integrity – “Whoever can be trusted with very little can be trusted with much, and whoever is dishonest with very little will also be dishonest with much.” (Luke 16:10, NIV)

On debt – “Owe nothing to anyone – except for your obligations to love one another. If you love your neighbor, you will fulfill the requirements of God’s law.” (Romans 13:8, NLT)

On lifestyle – “Some who are poor pretend to be rich; Others who are rich pretend to be poor.” (Proverbs 13:7, NLT)

On productivity – “Plant your seed in the morning and keep busy all afternoon, for you don’t know if profit will come from one activity or another – or maybe both.” (Ecclesiastes 11:6, NLT)

On investing – “But divide your investments among many places, for you do not know what risks might lie ahead.”  (Ecclesiastes 11:2, NLT).

On generosity – “Give freely and become more wealthy; be stingy and lose everything. The generous will prosper; those who refresh others will themselves be refreshed. (Proverbs 11:24-25, NLT)”

 And here’s what I’m believing God for…

On work – “Whatever you do, do your work heartily, as for the Lord rather than for men.”  Colossians 3:23

On handling money & integrity – “Now it is required that those who have been given a trust must prove faithful” 1 Corinthians 4:2

On productivity – “You need to persevere so that when you have done the will of God, you will receive what he has promised“. (Hebrews 10:36).

On saving & investing  – “Four things on earth are small,   yet they are extremely wise:  Ants are creatures of little strength, yet they store up their food in the summer;” (Proverbs 30: 24-25)

On keep doing  “Sustain me according to your promise, and I will live; do not let my hopes be dashed“. (Psalm 119:116)

On generosity “A generous person will prosper; whoever refreshes others will be refreshed. (Proverbs 11:25)

On living avsimple lifestyle “One man pretends to be rich, yet has nothing; another pretends to be poor, yet has
great wealth.”  Proverbs 13:7

On Debt “The rich rule over the poor, and the borrower is servant to the lender.”  Proverbs 22:7

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