Category: Personal Finance

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2016 Personal Theme: Health + Wealth

Instead of a resolution or a goal post, I thought of writing a personal theme post. For this year, I want to focus on health and wealth. I couldn’t pick a single theme so I opted for a double. Is that good or bad? Haha, actually, I don’t want to know. All I know is that, compared to last year, I have a clearer vision for this year of the things I want to accomplish and most of them revolve around health and wealth. So health and wealth it is!

Eat healthy, get fit, and lose weight. I got a bit disappointed with myself last year for not having enough discipline to reach my target weight. I tried zumba, jogging, and even yoga, but no visible and satisfying results were achieved. 2016 gives me another opportunity to get more serious and do better, so wish me luck, friends!

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On Economic Outpatient Care and Relatives Who Ask for Money Habitually

I first heard the term economic outpatient care (EOC) in the book “The Millionaire Next Door” by authors Thomas J. Stanley and William D. Danko. There’s actually an entire chapter in the book devoted to it. EOC refers to the affluent parents’ act of giving money (on a regular basis) to their adult children (who normally have jobs of their own). The authors believe that EOC tends to encourage laziness among the recipients and instill a false sense of security in them. Apparently, instead of empowering them, they are weakened by this financial practice.

I have seen and I know of working adults who continue to receive money from their well-off parents. This could be in the form of cash gift and most of the time, debt (the kind that is intentionally unpaid or forgotten to be paid). From what I have noticed, the recipients tend to use up the money on luxuries instead of growing it through savings or investments. Sad, but true.

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Early Retirement Goal

If I had a choice, I would be a stay-at-home wife. Don’t get me wrong. I love my job. I also love the idea of working to earn a living. It’s just that the idea of homemaking and doing a plethora of things on the side at my own pace seems very appealing to me. (I say the lesser pressure from the outside world, the better!) And I can only do all that by quitting work. But the question is, am I ready for it? Am I ready to give up my job –my primary source of income– at this time? The answer is a big NO.

retirement
Image Source: http://www.gijobs.com/plan-retirement-civilian-world/

That’s why making an early retirement goal sounds like a great idea to me right now. I used to imagine myself retiring at age 45 but recently, I have decided to move it to age 50 (that’s exactly 19 years from now). I would still be young and healthy (I guess) by then and my savings and investments should be enough to tide me over until I start receiving my GSIS pension 15 years after at age 65. (That is, if I could complete the required 15 years of government service as I’m still on my 10th at present.)

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On Paying Off Cash Loans

Today is a happy day. It’s pay day and I expect to see a slight increase in my weekly salary because my last month’s pay slip says I’ve already finished paying one of my three cash loans at work. (It’s through salary deduction so I just have to look at my pay slip to check on their status.) The remaining two cash loans will be fully settled by September so that when October arrives (which is actually my birth month!), I could expect more money to finance my birthday party. Haha.

pay slip
my actual pay slip

Now, why am I writing about this? Because I waited for this day to come. That one by one, the hubby’s and my loans will be fully paid and we could have more funds to add to our emergency and retirement funds. Our financial goals are as clear as water and our determination remains strong. We just have to stick to our plan and we’re good.

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Lessons on Stock Market Investing, Vol. III

One year ago today, I opened an account with COL Financial and never looked back. I put money into my account whenever possible. It wasn’t on a regular basis, but I made sure to reach a certain amount before I celebrate my first year as a direct stock market investor. What do you know, I did it!

Somehow, I feel quite accomplished and empowered knowing that I have started taking the journey to financial freedom. I am still far from it, perhaps several years far, but my inner self tells me I’ll get there one day. And so I continue to believe in and work to realize my goal.

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Dealing with Windfalls

This year is getting to be very good in terms of financial blessings. The first quarter alone saw the hubby and I receiving some unexpected incentives at work. Then, during the second quarter, our mid-year bonus arrived and a few more monetary benefits came after that.

Receiving windfalls (in our case, it’s usually from work and nothing else) is always a pleasure and a reason to give thanks. By giving thanks, I mean saying a short prayer of gratitude to the guy above and sharing the blessing (in whatever form or way we like) with our loved ones.

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