𝙈𝙤𝙣𝙚𝙮 𝙈𝙞𝙨𝙩𝙖𝙠𝙚 𝙩𝙤 𝘼𝙫𝙤𝙞𝙙 𝙞𝙣 20𝙨 & 𝘽𝙖𝙨𝙞𝙘 𝙁𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝙇𝙞𝙩𝙚𝙧𝙖𝙘𝙮 𝙀𝙭𝙥𝙡𝙖𝙞𝙣𝙚𝙙 | 𝙏𝙮𝙥𝙞𝙘𝙖𝙡 𝙁𝙞𝙡𝙞𝙥𝙞𝙣𝙤

there's a story about this little girl and her mother preparing a dinner kid asked ma why you cut the ends of the hem mother replied I don't know we should ask your grandmother she'd called her grandmother grandma why you cut the ends of the ham the grandma replied I don't know sweetie maybe we should ask my mother the kid called her great-grandfather kid asked grandma why you cut the ends of the ham the great-grandma replied I don't know why you guys cut the ends of the half but I did it because my oven was too small it's funny because sometimes we do things just because that's the way it has always been done most of us are always thought that you go to school get good grades you can have a high paying job it is true for the most part but it's not the high paying job that will make you wealthy like what Robert Kiyosaki said in his famous book Rich Dad Poor Dad it is not how much money you make but how much money you keep and make that money works for you that matters I have seen a lot of people with high paying job end up owning a lot of debt why because of her Filipino money mindset the first day we get that high income salary we tend to take on how are we going to spend it rather than saved it in San walloping ions Awad many is it Panama be bohemian answer salary increase the cost of your living expenses also increases we started buying car buying that loan spending money on shopping buying that expensive shoes getting that latest gadget and then one day little did you know you are now in the rat race this is why most people struggle financially you go to work get that hard-earned money you pay the bills and since this is your salary you reward yourself by spending beyond your income this is where most people lost their hard-earned money and then you don't have savings anymore aside from that you need to pay for your house don't Carlos credit card and appliance loan and the rat recycle beginning because you need to start working again rad racer frustrating hard to break financially so if you don't do anything about it you will be working for the rest of your life now the million-dollar question is how can we escape the rat race the answer is basic financial literacy financial literacy is the ability to manage your money effectively we don't need to be smart to learn this stuff but if you wanna get a financially literate person get yourself there as fast as you can what does this mean this means that you sit down and map out a plan get control of your spending habits minimize your debt and liabilities the video means before trying to increase your needs you will be surprised on how little money you can invest from money but a realistic rate of return it will take to reach your goals goals such as at what age do plan to stop working if you certain ways be it can be your greatest ally of success famous Albert Einstein said that compound interest is the eighth natural wonder of the world and the most powerful thing I have ever encountered why let's take an example Pedro n1 both are inserted thousand bits of the difference between Pedro and one this one is early at the age of 22 he managed to open an account and found a 12% interest and invest 20,000 pesos a year for six years then he stopped investing on the other hand Pedro started investing at the age of 28 years old with the same amount of 20,000 pesos a year a total percent interest and then stopped investing also after six years as you can see both one and petrol invested 120 thousand pesos over a period of six years but because who one started earlier he made a whopping nine million five hundred ninety seven thousand nine hundred twenty pesos meanwhile Pedro who started the same amount of money six years later made only four million eight hundred sixty-two thousand six hundred when they will reach the age of people who are men formally and more than better just by starting early that is the magic of compound interest at this level keep it simple don't get fancy start saving on the right investment vehicle today take advantage the health protection but not for wealth accumulation sit down with your loved ones and build your emergency fund you don't need a lot of money to be wealthy but a well balanced financial habits will make you wealthy and successful over the long haul if you start today and invest regularly you can make it to a phenomenal world good luck on your investing journey and don't forget to enjoy the process

Channel: The Financial Minimalist PH

Views: 33,976

Keywords: personal finance, money, money management, investment, stocks, finance, financial literacy, money mindset

Id: xKh6vpyFKKA

Length: 4min 51sec (291 seconds)

Published: Tue Jan 28 2020