Be Financially Stable today. Not tomorrow!

Who doesn't want to be Financially Stable?

Everyone wants to be Financially Stable, right? Who doesn't? Its the dream and the goal but it is not the life goal. Here's a story:

My high school classmate was a factory worker here in the Philippines. His salary was 16,000 pesos a month. He feels like his income is not enough so then he went abroad and tried to make more money. Now, he is making 60,000 a month however his expenses are 68,000 in all. Negative and now having debts. In other words, when he is in the Philippines, his budget was a little bit enough to support him. But now even having a much more income he got debt and negative accounts. What's the problem?

Where is Financial Stability?

In Reality, no one is Financial Stable. Even Rich people. Why? Because the more we make the money the more we spent. If you really analyze the situation, the real problem is not only the lack of income but also:

Lack of financial discipline

Lack of patience

Lack of skills

Lack of financial knowledge

Our goal in life is not to pursue Financial Stability but to practice Financial Responsibility.

How to become Financially Responsible?

These are you must do:

• Save before you spend - think if you're really saving your money before buying your favourite items. Your favourite coffee brands, your make-up kits, your whitening gels, it's not wrong if you want to buy them but realize first if your saving enough. If you are not saving enough, but you still wanted to buy all, You have a problem.

• Control Spending - control your money. "Buy what you need not what you want". Ask your self before you buy something. Ask yourself why you have to buy it? Do I really need it? or I just wanted it? Don't tell yourself you need everything. Do you need it to impress others? This is the problem. Sometimes we buy things we don't really need just because it is trending, someone will like it, people will envy you, it suits my IG profile? (LOL) NO! it's not. Repeat asking your self first, do I save enough money even buying this?

• Budget your money well - creates a budgeting system. If it's not in your budget, don't buy it. Even it is in the sale.

• Pay your bills first - Pay it on time. Don't get fees

• Build your emergency fund - Atleast 6-12months

• Stay away from bad debts - no guarantee, every debt is negative.

  If you wouldnt become financially responsible you will not become debt-free.

Thank you for reading! Will be making investment practice in the future! Please subscribe and like my article! God Speed!