FINANCIAL FITNESS: Seven Nuggets of Wisdom

It was 2005 when I had the realization that I should take charge of my finances.
I was already working for quite some time, but didn’t have any savings.

A friend of mine shared his favorite book, “The Richest Man in Babylon” and at the same time, my brother was trying to influence me into taking a look into my financial status.

Since then, I was able to get a grip on things, slowly paying off my personal credit card debts and invested in some Retail Treasury Bonds (RTB), Time Deposits (TD) and the some Blue Chips in the Stock Market.

Back then, I was challenged as a single mom, trying to get back on track.
Years after the realization, I was able to make the change and had my own share of learnings along the way. These are things one would read in books, but for sure, these had helped me out a lot.

Sharing the Seven Nuggets of Wisdom that had helped me out during those times.

1. It’s all in the mind. 

Wealth is a mind game.

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Unless your parents are already millionaires and tycoons, almost everyone starts from scratch, zero, nada.  A more specific case is that if one is deeply in debt, relying on credit cards to live and funds coming in is not enough, having allocation for savings is the least of your priorities.
If you could relate to this scenario, don’t despair ~ I was in that exact situation 10 years ago.
Know that, as long as you have working income, you can convert that into passive income, IF YOU DECIDE. Be with positive, like-minded individuals. Develop a goal, device a plan and track your progress. What the mind can conceive, it can definitely achieve.

2. Develop the habit of saving. 

 Give yourself  10% no matter how small or big. It’s the habit, not the cost.

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 Be it Php 100 a month, Php 1,000 or even Php 10,000, it doesn’t really matter as long as you start on in. Remember, Rome was not built in a day.

3. Learn to find beauty in simplicity.
Simplify your life. Turn of the television, do picnics with the kids, run in the park and have mini picnics. Your kids will thank you more for it. Time spent with family is what makes childhood memories more special and memorable.
Do bike commutes,get on you bike and reduce your carbon footprint. Enjoy every moment of movement and the zen feeling of just breezing through traffic with just you and your bike.

4. Manage your wealth. 
Being stewards of wealth, we are gauged by how we manage what we have.
If we know how to manage the small stuff, we can then be trusted with the bigger stuff.

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Know how to minimize your extra expenses and determine the thin line between wants and needs. If you must, buy more assets that liabilities. Being a good money manager is the sure fire way to financial freedom

5. Make your money grow. 
It is not how much you earn but what you do with the money coming in.
Learn about your options with different investment vehicles: business, stocks, real estate, time deposits, etc. Expand your knowledge base and take calculated risks.

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Be open to opportunities for your money to grow – broaden your network and meet new people.
Who knows, your next business deal would probably come from that person you met in the gym!

6. Know there is joy in giving.
You might not feel that there is anything to give, but, looking at nugget #1, If you keep on telling yourself you have nothing, then your physical reality would prove your right.
As stewards, it is our duty also to share what we have.

Let us all learn from the majestic tress. They give that they may live.
When you prune a branch or pick a fruit, nature makes sure that it grows back after a time. The law of nature shows that the more you give, the more you grow.

7. Have fun in our way to financial freedom.

These simple things surprisingly makes a big difference to help you reach your financial fitness goals. Try it out and share what your nuggets of wisdom are!

Run Forrest Run! But wait! How do you prepare for one? – Part 1

How can we forget that segment in the movie, “Forrest Gump,” when he describes why he started running?

So he says : “That day, for no particular reason, I decided to go for a little run. So I ran to the end of the road. And when I got there, I thought maybe I’d run to the end of town. And when I got there, I thought maybe I’d just run across Greenbow County. And I figured, since I’d run this far, maybe I’d just run across the great state of Alabama. And that’s what I did. I ran clear across Alabama. For no particular reason, I just kept on going. I ran clear to the ocean. And when I got there, I figured, since I’d gone this far, I might as well turn around, just keep on going. When I got to another ocean, I figured, since I’d gone this far, I might as well just turn back, keep right on going.

As he’s narrating his run where now hundreds are following him, he says, “I had run for 3 years, 2 months, 14 days, and 16 hours.” 

I wonder how our ultramarathoners would fare with that? Wait… three years two months fourteen days and sixteen hours.

WOW! How does one prepare for THAT?

With all the races going on in the metro, though we do not plan for a three year run, we still need to do preparation for our runs.  This article will be supplying you with information on how to arm yourself for THE BIG RACE.

Pre-Race Night:

  • Have all your stuff needed for the run ready. Put out the running outfit you have, chose your colors to further motivate you to run. I remember Coach Xhi would always make it a point to wear orange in her runs and I had wanted the color pink. A splash of color during the race makes it more fun. Prepare your outfit and your equipment (water bottle, energy bars / gels, cap, iPod playlist, etc.) so that its all ready to go for the next day.
  • Make sure that your toenails are trimmed the night before so that they won’t be caught dead the next day!
  • Hydrate yourself. Water (and the rest room) is your friend.
  • Put in your 8 hours so that you’d be up and about during the race. You wouldn’t want to be on low battery by running on just a few hours of sleep!
Race Day Preparation:
  • The early bird catches the worm, and would have the time to eat a light breakfast.You would definitely need it for energy.
  • Never underestimate the power of the anti-chaffing petroleum jelly.
  • Make sure that you have your race kit with you!
  • Expect parking to be far from the race venue so leave early and plan for time to park – use the walking time from the parking to race venue as warm up.
  • Do jumping jacks, dynamic stretches or what ever works as warm up before you race. For some, a slow jog also helps.

Nutrition and Fueling Strategy
  • Before the race DO eat a light meal an hour to an hour and a half. Bread, pasta, rice, water and non-acidic fruit like bananas are good choices.
  • DO NOT eat or drink something you have never ever tried before. Add to the list are dairy products, fried foods, fiber rich foods or anything you are not used to. 
  • Pre-hydration is ok until 15 minutes before the race starts as long as you could still go to the restroom before the start (good luck with the long lines though)

 Next post will be regarding the race itself.

Read here:  Run Forrest Run! But wait! How do you prepare for one? – Part 2