I have been a Financial Planner since I was 19 years old. Quiet young huh? Well let’s just say I got attracted to Personal Finance early on because I saw its importance. I also considered 19 as late, well for me I should’ve known about personal finance when I was 16 years old and maybe I might have been able to invest during the global economic crisis when everything was cheap and made my millions back then hahaha!
Kidding aside I would like to talk about the fundamentals of financial planning today. Well I can make it as complicated as much as possible and include some accounting and taxation in it but that is not my goal. My goal today is to give you a basic plan to follow. The most basic one I know. Well, of course I got this from my mentor Bro.Bo Sanchez and I believe that it is quite effective for anybody.
I’ll break it down into 3 parts so you can easily understand it. So here it is:
Give 10%
Invest 20%
Spend 70%
Simple huh? Told you didn’t I. Well if you just followed these 3 simple steps, I can guarantee that your finances will always be in order PLUS you can retire as a mega-millionaire. How is that? Allow me to explain in my next posts. Until then try the magic of giving 10, investing 20 and spending 70.
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