Increase your Income (Create your money machine)

Being wealthy is achievable. First in mind, then in reality. There are 2 elements of financial wealth, the mindset to create money and the ability to create money. These 2 elements can transform people from being poor to financially wealthy. I learned that principle from my mentor Bro. Bo Sanchez.

What is Your Wealth? 

Is it your money? Your car? or your house? Does this thing brings your more money? For me, my wealth is the ability to create money automatically while doing the most important things in my life. Like more time for my family, serving God with my time and to help other people achieve their dreams.

Do not ask for money alone. Money can be a burden if you don't have money machine. (Money machine is your regular source of income from your job or business).

For example you wish for a car and the car was given to you. I believe that your next problem will be the daily gas for your car. After more months your next problem will be the car maintenance to maintain its condition. If you don't have money to sustain it, what will you do?

Friends money will be your big problem if you didn't know how to increase your income.

There are 2 stages of financial life.

  

Stage 1. Man works for money - best example of this is your job or self employment. You exchange your time and service to earn your income.

Stage 2. Money works for man - in this stage, the money grows itself. I'll discuss it later. Read on.

Which of these financial stage would you choose? For the mean time, we starts from stage one which is our job or by by being employee. If you had the experience and the right knowledge/skills, you can transfer to stage two. Money will work for us. Whether it is in the form of investment, property or business.  From there you could also create money machine.

There are 2 kinds of money machine.

1. Manual money machine - it is your job or maybe self employment(doctor, dentist, lawyer etc).

2. Automatic money machine - there are many automatic money machine. These are paper assets, business and properties.

3 kinds of Automatic Money Machine

1. Paper assets - one of the example of this is mutual fund. In mutual fund, you simply invest your money to the mutual fund company. Then the company re-invest your money either in bonds or stock market. If the company invest your money in bonds, it will called bond funds. If it invests in bonds and stock market, it will called balanced funds. And if it invests in stock market alone it is called equity fund. In paper assets like mutual fund, your money will earn up to 12% to 18% a year.

Another example of paper asset is the stock market. Stock market is very dangerous for the people that  doing stock trading. Stock market trading is buying big amount of stocks in low price and sell it in 1 to 2 days when the price increase. It is simply a gamble for the beginner. I recommend the stock market investing. It is the investing or buying big and stable companies in whatever price and earn from the dividend. 

2. Business - being an entrepreneur is the fastest way to be wealthy. However the requirements of being entrepreneur is to learn the ability to earn money. They have to study consistently and build relationship with their clients or customers. By having business, you can create your money machine and it needs to be automatic. There are lots of business that the operation is automatic and can earn passive income.

Warning: Doing business is not an overnight event, you need more patience and perseverance. You can fail more times but you have to be strong to succeed in your business. When you succeed in business, it can also be an automatic money machine for you. Choose the business that can operate automatically.

3. Properties - owning properties is great source of income. For example you own an apartment or condominium, the monthly rental fee will be the continuous source of income.

I hope this post serves you. If this article blessed you, kindly share it to your friends.

PS: My free ebook is now available. Get your copy now. Click http://bit.ly/get-jun-borgonos-ebook

PS2: Gusto mo ba ma-achieve ang time at freedom while you're making money online? Watch the video here. Make sure na tatapusin mo ha. Email me at rodolfoborgonos@gmail.com if may question ka. I'm happy to serve you! :)

Your friend,

Jun Borgoños.

4 Steps to Control your Finances

I believe that anyone can be wealthy whether their earning was small or big. It is on how we can control our cash and use it in more valuable way. I also believe that controlling our cash will lead us to financial freedom.

Friends, I want to share to you the 4 steps on how to control your finances and to live simply and happy. I got this 4 steps to my greatest mentor Bro Bo Sanchez. Here are the 4 steps.

Step 1.  Stop borrowing -> avoid debts, because there's no such thing as easy payment. There's a curse on borrowing or having debts. The curse oh having debts are:

1. Marital fights
2. Increasing part of your income goes to debt payment.
3. Sleepless night

Step 2. Protect your assets -> your greatest asset is your ability to earn money. Then to earn more you have to multiply your money and ensure that your source of it is strong. They might suggest to get some insurance. You can research some kind of term insurance, stocks, bonds etc.

Step 3. Live in 70% of your income -> your goal  is to control your cash. It will not useful, if you're note able to control it. Just live simply and don't waste your money for the things that aren't important. Prioritize your common needs. Make a practice to live in your 70% of your income. I'll tell you what to do with 30% in the next step.

Step 4.  Set Aside 30% or more of your income to your 4 special funds -> must step aside your at least 30% of income to special funds to achieve financial freedom for the future. Here are the 4 special funds.

1. freedom fund (paying your debts in advance). Set a fund to slowly paying your debts and the other expenses in advance.
2. emergency fund (save at least 2-3 months of salary). We'll never know when the crisis will come. We need to be prepared always. It is recommended to set money for your emergency fund.
3. wealth fund (investments). Invest at least 20% of your income to investments or business. It will not make you rich in an instant, however it will make you rich over time.
4. tithe fund (give to God). Give your 10% of income to God or other charity organization that nurtures you and make you grow as an awesome individual. God will bless you more if you can give for His work.

Friends, we need to be like the ants. They store their foods during summer and use it for the winter. We need to be prepared on the time of crisis. Our financial wisdom for now will make us strong and ready for those times.

I hope this post serves you. If this article blessed you, kindly share it to your friends.

PS: My free ebook is now available. Get your copy now. Click http://bit.ly/get-jun-borgonos-ebook

PS2: Gusto mo ba ma-achieve ang time at freedom while you're making money online? Watch the video here. Make sure na tatapusin mo ha. Email me at rodolfoborgonos@gmail.com if may question ka. I'm happy to serve you! :)

Your friend,

Jun Borgoños.