Financial Advisor - Arlene B. Freo

The only money rules you need 💯

Realities if you don't have enough insurance coverage or anyone in your family 💯

10 LESSONS ON FINANCES: 💯

1. If your salary here in the Philippines is below P20,000, we will be exhausted. Add income or aim for higher compensation. We can do that.

2. Build an EMERGENCY FUND - amount that can hold your expenses for 6 months in case you lose income.

3. Follow this MONEY FORMULA:

Income - Savings = Expenses

First set aside savings no matter how small. This way, you can build the proper habit and mindset.

4. If you can't AFFORD - don't buy. Sometimes, we are the ones who put ourselves in a difficult situation because we are impulsive shoppers. Use 14-day rule.

5. It's not because it's on SALE, you're going to buy. Especially if you really don't need it. That emotion will pass.

6. Zero debts = Peace of Mind. Avoid if you can't manage the debt. Many are anxious because of debt that's why they can't work properly.

7. BUDGET - you cannot improve something you don't measure. Know your total income and total that comes out of your expenses.

8. Must learn to live BELOW OUR MEANS. Don't go broke trying to look rich. It's okay that things, shoes and clothes aren't always new. As long as that's okay.

9. MONEY IS NOT EVERYTHING, but we cannot deny the fact that we NEED money to live comfortably. So, SAVE and INVEST properly.

10. Life and health insurance are not expensive, death and illness are. Be financially protected.

You can change your life and financial status with proper mindset and disciplined actions. Let's use the remaining 6 months to have financial growth!

Photo credit to the owner 📷
Photo not mine 📷