Failure Is A Choice Made By The Undisciplined part 3 of 3

By Vic Cosant
Part3
Here's a fun, potentially life-changing game I'd encourage you to play. Pick out an area of your life that you've had weak discipline in in the past. Set an objective relating to this area. Now, set that objective as your life's top priority — or at least put it in the very top few. Then set a minimum time that you will stay committed to this objective. I'd recommend a minimum of a month, but for this game you could even choose a week. If you can be disciplined for one week, you can be disciplined for as long as you choose. Now, this is going to mean repriori-tizing your time from your normal weekly schedule, but you'll do it — Why? Because it's your top priority!
While doing this, you're going to experience an interesting phenomenon. In the past, when you have set halfhearted objectives, your brilliant mind would start figuring out how to get around the objective to get you back to your comfort zone. However, now you'll find when it's your top priority, your mind works only on achieving the objective and taking you where you really want to go.

PS: Plan your road map to your success. Seasons Greetings to all.
Bro. Willy

Failure Is A Choice Made By The Undisciplined- part 2 of 3

By Vic Cosant


The truly disciplined

My great friend Wayne Dyer (author of The Secrets to Manifesting Your Destiny) is a wonderful example of what it means to be "truly disciplined." There was a time when Wayne had run eight miles every day for 21 years in a row without missing a day! That's over 7,665 days straight running eight miles a day with no exceptions! I don't know about you, but I'd be overwhelmed with the thought of attempting that. And yet to Wayne, it was a part of his day — every day — without exception. Now I think Wayne would admit he isn't disciplined at everything. But what allowed him to be so disciplined at this?

He simply made running the most, or certainly one of the most, important activities in his day, every day. The great thing about this is that you simply don't allow anything to get in the way of the most important objectives in your day. Everything else takes a lower priority. All of a sudden reaching the objective becomes easy. You become — disciplined.

In the case of Wayne, I'm sure that over the 21-year period there were literally millions of things that he could have used as an excuse not to run one of those days. But, because it was one of his top priorities, nothing got in the way of Wayne's running. He ran when he had a fever, he ran in place on long flights, and during bad weather he would run up and down the halls of his hotel. That's discipline!

ps: make a habit in the basic principle of discipline , my your dreams come true.

Bro. Willy

Failure Is A Choice Made By The Undisciplined Part1 of 3

by:Vic Conant

Failing to meet your objectives, regardless of what they are, is a choice, because something else has been given higher priority. If you fail, it is because you choose to fail.
We call some people "self-disciplined" and others we call "undisciplined." And what's fascinating is that one person can be disciplined at one thing but not at another. I know an extremely successful businesswoman who has run two different billion-dollar businesses. If you saw her in her business environment, you would say she was disciplined. However, this same woman has had an extreme weight problem for as long as I've known her, and so far she hasn't had discipline in that area of her life, even though she would identify it as an area of tremendous concern to her.
How can this happen? How can a brilliant person so strong and disciplined in one area of his or her life be so undisciplined and unsuccessful in another?
The answer is deceptively simple. Discipline always involves the act of reaching a goal, and it also reflects the level of commitment that is attached to the goal. Furthermore, our various personal commitments will be ranked in the order we consciously, or more likely unconsciously, believe fit with our life priorities. When goals are set halfheartedly and they don't reflect our top life priorities, there should be no surprise when we display low discipline and we fail.
The vast majority of us have no grasp of what our top life priorities are. And because we aren't conscious of them, we tend to move them around very fluidly. That's why weight may seem like a high priority on Monday but be lowered to a secondary importance below taste enjoyment by Friday. Likewise, fidelity might seem like the highest priority until temptation comes in our path. In general we allow ourselves to get in the habit of setting goals for which we are not truly committed, and then we beat ourselves up when we fail at achieving them. There is a huge difference between even a 99% commitment and a 100% commitment. Choosing to be disciplined about something means committing 100% to reaching the objective.

picture courtesy to :http://darenz.cybernamix.com/cms/imagelibrary/100042.jpg

PS: Have the habit of discipline may your dreams come true.
Bro. Willy Testa

Lesson2: The Types Mutual Funds

Types of Mutual Funds

There are mainly four types of mutual funds in the Philippines: stock (or equity), bond, balanced, and money market.

Stock or equity funds invest in shares of stock of Philippine corporations listed in the Philippine Stock Exchange. Equity funds offer the highest possibility of growth among all mutual fund types, but they also have a corresponding high amount or risk.

Bond funds invest primarily in fixed-income securities such as bonds or treasury notes issued by the Philippine government and commercial papers issued by reputable Philippine companies. Because these bonds are normally guaranteed, the possibility of loss is very low. Investing in bond funds provide capital preservation while maintaining conservative asset growth.

Balanced fund is a mixture of equity and bond funds. The high potential growth of equity investments is tempered by the conservative growth of fixed-income securities. Obviously, the return of a balanced fund is normally somewhere between the return of an equity fund and a bond fund.

Money market funds are similar to bond funds because they also invest in fixed-income securities and the growth of the fund is conservative. The main difference lies, however, in the term of money market fund investments, which is usually short-term such as one year or less.

How to choose a good mutual fund
Choosing which mutual funds to invest in ultimately depends on the investor’s growth goal and risk tolerance. If the purpose is capital growth, equity funds are the way to go. Bond funds are chosen, on the other hand, if the investor prefers capital preservation over risky capital growth. For those who want medium risk and medium growth, balanced funds are the best option. Money market funds are for those who wish to earn a conservative amount of return in the short-term.
According to the Investment Company Association of the Philippines, a duly recognized association of investment companies in the country, there are currently a total of 22 mutual funds. Six (6) of these are bond funds, five (5) are equity funds, ten (10) are balanced funds, while one (1) is a money market fund.

Source: http://www.pinoymoneytalk.com/introduction-to-philippine-mutual-funds/

UNDERSTANDING MUTUAL FUND INVESTING

Part 1

UNDERSTANDING MUTUAL FUND INVESTING


A mutual fund is an investment vehicle that pools together the funds of various investors---both individuals and corporations. The pool of funds is managed by a professional fund manager who uses the funds to create a diversified investment portfolio consisting of various investment instruments such as stocks and bonds.

Mutual Fund Quick Facts
o It pools the money of people, with the same investment objectives, through the issuance of shares.
o The resulting size of the fund allows it to invest in a basket of securities.
o It is managed by full-time professionals.
o Investors in a mutual fund are considered part owners or shareholders of the fund.
o Shareholders are entitled to a proportionate share in investment income and risk exposure.
o Each share represents a proportionate ownership in all the fund’s underlying securities
o Earnings in a mutual fund are based on Net Asset Value Per Share (NAVPS)


courtesy of http://www.philequity.net/investorEducation.php

Mutual Funds : What is this all about?

MF Lesson1: Mutual Funds : What is this all about?
As you probably know, mutual funds have become extremely popular in other country such a the US. What was once just another difficult to understand financial instrument is now a part of our daily lives. Less than 1 million people in Philippines, invest in mutual funds. But in the United States alone, trillions of dollars are invested in mutual funds by 80 Million investors.


In fact, to most people, investing means buying mutual funds. After all, it's common knowledge that investing in mutual funds is (or at least should be) better than simply letting your cash waste away in a savings account, but, for most people, that's where the understanding of funds ends. It doesn't help that mutual fund salespeople speak a strange language that is interspersed with jargon that many investors don't understand.

Originally, mutual funds were heralded as a way for the little guy to get a piece of the market. Instead of spending all your free time buried in the financial pages of the Philippine Stock Market Street Journal, all you had to do was buy a mutual fund and you'd be set on your way to financial freedom. As you might have guessed, it's not that easy. Mutual funds are an excellent idea in theory, but, in reality, they haven't always delivered. Not all mutual funds are created equal, and investing in mutuals isn't as easy as throwing your money at the first salesperson who solicits your business.

In this tutorial, we'll explain the basics of mutual funds and hopefully clear up some of the myths around them. You can then decide whether or not they are right for you.

DEALING with DEBT

DEBT CONSOLIDATION

If you have a lot of debt, you're not alone. Today, more and more Americans are burdened with credit card and loan payments. So whether you are trying to improve your money management, having difficulty making ends meet, want to lower your monthly loan payments, or just can't seem to keep up with all of your credit card bills, you may be looking for a way to make debt repayment easier. Debt consolidation may be the answer.What is debt consolidation?
Debt consolidation is when you roll all of your smaller individual loans into one large loan, usually with a longer term and a lower interest rate. This allows you to write one check for a loan payment instead of many, while lowering your total monthly payments.How do you consolidate your debts?

There are many ways to consolidate your debts. One way is to transfer them to a credit card with a lower interest rate. Most credit card companies allow you to transfer balances by providing them with information, such as the issuing bank, account number, and approximate balance. Or, your credit card company may send you convenience checks that you can use to pay off your old balances. Keep in mind, however, that there is usually a fee for this type of transaction, and the lower rate may last only for a certain period of time (e.g., six months).
Another option is to obtain a home equity loan. Most banks and mortgage companies offer home equity loans. You'll need to fill out an application and demonstrate to the lender that you'll be able to make regular monthly payments. Your home will then be appraised to determine the amount of your equity. Typically, you can borrow an amount equal to 80 percent of the value of the equity in your home. Interest rates and terms for home equity loans vary, so you should shop around and compare lenders.
Some lenders offer loans specifically designed for debt consolidation. Again, you'll need to fill out an application and demonstrate to the lender that you'll be able to make regular monthly payments. Keep in mind, however, that these loans usually come with higher interest rates than home equity loans and, depending on the amount you borrow, may require collateral on the loan (e.g., your car or bank account).Advantages of debt consolidation
The monthly payment on a consolidation loan is usually substantially lower than the combined payments of smaller loans
Consolidation loans usually offer lower interest rates
Consolidation makes bill paying easier since you have only one monthly payment, instead of many Disadvantages of debt consolidation
If you use a home equity loan to consolidate your debts, the loan is secured by a lien on your home. As a result, the lender can foreclose on your home if you default on the loan.
If the term of your consolidation loan is longer than the terms of your smaller existing loans, you may end up paying more total interest even if the rate is lower. So you won't actually be saving any money over time, even though your monthly payments will be less.
If you use a longer-term loan to consolidate your debts, it will take you longer to pay off your debt. Should you consolidate your debts?
For debt consolidation to be worthwhile, the monthly payment on your consolidation loan should be less than the sum of the monthly payments on your individual loans. If this isn't the case, consolidation may not be your best option. Moreover, the interest rate on your consolidation loan should be lower than the average of the interest rates on your individual loans. This allows you not only to save money but also to lower your monthly payment.
The 360 Degrees of Financial Literacy Web site offers general information for managing personal finances and does not recommend specific financial actions. For financial advice tailored to your situation, please contact an expert such as a CPA or a personal financial advisor.

source:http://www.360financialliteracy.org/

A Life-ChangingFinancial Literacy and Money Management Seminar:

"FINANCIAL SOLUTIONS TODAY"

You will learn the following:

- The Steps to Financial Independence- How Money Works
- How to Build a Solid Financial Foundation
- The Wealth Formula
- Different Investment Vehicles:
Mutual Funds, Stocks, etc.
- Investment Strategies: Money Cost Averaging, Diversification, etc.
- How to Create Multiple Passive Income Streams
- How to Become Your Own Financial Adviser/ Broker

Dates: Saturday, @ 2pm Monday , Wednesday,@ 7pm,
3/F, King's Court Bldg 1, Chino Roces Ave., Makati City

*No Registration Fee,*No Registration Fee,*No Registration Fee


FREE ....FREE...FREE....Training


BEFORE:•
With a little hard work & careful budgeting, most families could realize their dreams of buying their own home, sending their children to college & retiring in comfort.

A parent can raise 10 or more children—only the father works, mother stays at home.• Having a job/ profession & only one source of income is enough.But

TODAY:• Many families are financially struggling.- A couple, both working, can hardly raise 2 or 3 kids. - Couples often argue over finances.- Can’t fund parent’s hospitalization/ medical needs•

INFLATION & INCREASING COST OF LIVING: Makes it difficult to save money for the future. When the need arises (illness, education, emergency), people fall into debt.

• DEBT TRAP: credit cards, car/ housing loans, pawnshops

• JOB & BUSINESS INSECURITY: loss of income due to business failures & lay-offs.• Having multiple streams of income is already a necessity.

• Gaining FINANCIAL EDUCATION/ LITERACY is much needed.If we can show you FINANCIAL SOLUTIONS TODAY,

are you willing to learn?


Email me at firstworldpinoy@gmail.com to join this great even.

Again its FREE ....FREE... FREE

PS : May your dreams come true ...financial freedom

SMART SPENDING, SMART SAVING TIPS THIS SEASONS HOLIDAY

Ten Tips for Holiday Spending

1. Review last year’s spending and decide if and where you can cut back this year.

2. Decide who should be included on this year’s gift list; consider drawing names instead of buying for everyone.

3. Set a price limit for gifts, holiday decorations and cards, clothing, food, gift wrapping, mailing, etc.

4. Develop a realistic spending plan, considering how much money is left after paying bills.

5. Stick to your plan by keeping track of spending, so you don’t exceed your budget.

6. Avoid using credit, as the bills will come due during the new year!

7. Consider sales and outlet, discount, and thrift stores.

8. Instead of buying gifts, give “gift certificates” for your time and talents.

9.Create your own decorations and greeting and gift cards.

10. Take advantage of after-holiday sales for next year.

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"Millions of Filipinos never plan to FAIL, they simply FAIL to PLAN."

My your dreams come true.

7 Common (Expensive) Financial Mistakes

Too many young adults who are already out of school have low levels of financial knowledge so we, as a society, need to come up with other alternatives. Employers could offer financial literacy programs or at least provide resources to help young people avoid some of these costly mistakes. Schools should offer basic financial planning classes.
If nothing else, the recession has made us brutally aware of what we don’t know. Here are some of the more common, and costly mistakes, and ways that people can avoid them.
1. Not having an emergency fund. Experts recommend that everyone have a three-month emergency fund—at least. You never know when you’re going to get a flat tire or a leaky pipe—emergencies that happen all of the time but that can become very costly if you’re not ready for them. Having to borrow money on a high interest credit card can cost you hundreds in wasted interest payments.
What happens if you lose your job and have to dip into your emergency fund? First, don’t stress. It’s ok to use the emergency fund for rent or food—for needs. It’s not such a good idea to use it for that pair of shoes you really want or a night on the town. During a recession it can be hard to have and maintain an emergency fund. That’s ok, as long as you save what you can.
2. Slow leakers. These are the people who spend money on bottled water and daily Starbucks runs. The people who use their debit card for everything, no matter how small, and then forget to include the little things when they balance their bank account or budget. Even that $2 coffee can lead to overdraft fees.
3. Bad budgeters. These are the people who forget about certain expenses and therefore don’t budget for then. Or, they don’t budget at all, then wonder why they don’t have any money.
4. Minimum wagers. Paying just the minimum on your credit card is another expensive mistake. The bigger the balance, the longer it will take you to pay off and the more you will pay in interest. If possible, only use your credit cards for emergencies and pay off the entire balance on time. If that’s not possible, pay off as much as you can each month.
5. Plastic life. Living off a credit card is one of the worst money mistakes that you can make. If you are living off your credit card this probably means that you are spending more than you’re earning, a big budgetary no-no. If you are out of work and out of money you may have to live off your credit card for a while, but, in this case, you should really tighten your belt and spend as little money as possible. In addition, try to find a credit card with a low interest rate. A credit card is like a loan, meaning that the money will have to be paid back, with interest.
6. No doggy bag. It is possible to have some money leftover from a college or personal loan. As tempting as it may be do not use this money for anything other than paying back what you borrowed. Loans have to be repaid. The longer it takes to repay them the more money you’re going to end up paying in interest. Instead of spending any leftover loan money, simply use it to pay back what you have borrowed. In fact, it’s a good idea to make a loan repayment plan and begin paying back your loan as soon as you possibly can.
7. Too much, too young. Many young people make the mistake of thinking that they need to build credit while they are still in college. While it is always good to have good credit, it is not always necessary to have credit at all. Remember, it’s a lot easier to turn your credit bad than to keep it good. Don’t open a ton of accounts just to build up your credit. In reality, it only takes three months to build credit.
No one can be perfect all of the time but if you can avoid making some of these costly mistakes you can avoid wasted time and money.

Article source: http://www.richdadwisdom.com/

Fit Right in Christmas

Financially Fit Even After Christmas



Credited to: Francisco Colayco



We are just now feeling the effects of the global downturn of financial markets. The situation is unprecedented and nobody really knows how soon or how long the recovery will take. More importantly, nobody knows how the financial markets will look like after the dust settles. For sure, investment banking will no longer wield the financial clout it used to have. Most players in the industry will have probably de-leveraged and be more strongly capitalized. Unfortunately, this could also mean less credit being made available even to qualified borrowers. The bottom line is we must all be more conservative and assume that our own economic prospects may not
yet be as bright the coming year. These times call for belt tightening but aggressivepursuit of new income generating activities. Even with uncertainty, Christmas is still Christmas. When you receive your 13th month pay and/or bonus, your probable immediate reaction is a desire for self-gratification. After all, you deserve it after having worked and scrimped so hard over the past months because your salary was not enough. Salaries are never enough even if it is. You will surely admit that even if you are able to cover your living expenses and save, you still want
more. Then, you get a bonus that you see as a prize for work well done. You will surely be tempted to splurge. But before you start splurging, can you remember what we have discussed in this magazine regarding Active Income.


• Active income is the income you earn by working.
• You must set aside 20% of this hardearnedMoney
• Active income is to be used only foreveryday expenses and for savingsand investments.


Your 13th month pay and bonus are both Active Income. If you do not work, you will not get it. Therefore, you have to treat it like any other Active Income but with a twist. Since your regular salary covers your everyday expenses, then most of your 13th month and bonus should go into savings and investments. Maybe it is too much to ask that you save all of it but budget your bonus mostly for savings and a reasonable portion to support some increases in your December expenses.


DO NOT BY ANY MEANS SPEND ALL OF IT FOR ENTERTAINMENT OR GIFT GIVING!


Strictly speaking, it is only passive income that you can use for your giftgiving and parties during the Christmas season. Remember that passive income is the income you earn from your savings.
The income will come to you whether you work or not. If you are tempted to use your passive
income for the holidays, remember that if you use it instead of “rolling it over” or reinvesting it to earn more income, you will have to find a way to replace it so that you can still meet your Net Worth Goal for your retirement. After all, having a good retirement is when you have sufficient passive income to support your retirement lifestyle. You need to really save for it now while you still actively earn. If you spend it now, your retirement will surely suffer. If you really want to spread good cheer and sharing during Christmas, remember to cut down on your everyday expenses during the months or weeks before Christmas. If you have not done so during the past weeks, you will just have to reduce your Christmas expenses this year and make up for it next year. You can start cutting down on your daily expenses starting January so that you can spread more cheer for Christmas 2009. This means setting aside perhaps more than 20% for savings to be able to share more during Christmas and for that matter any other holidays you want to celebrate (including birthdays and others). Remind yourself that your life will not end after Christmas and New Year’s Day. There is nothing wrong with giving and sharing. In fact, it is one of the noblest things to do especially when we give to those who have much less without expecting anything in return. Just remember that you cannot share money that you do not have! Your first financial obligation is to yourself. You have to plan and prepare for your own future. Finally and most important, let us remember what Christmas really is. The birthday of Jesus Christ who was born in a manger. All the consumerism of Christmas is man-made. We can be happy and share but let us remember that life will continue and we will have to prepare for our future while we still have the means.


I wish you all a Blessed Christmas. For 2009, may your troubles be less! May your blessings be more! May nothing but happiness, peace and prosperity come through your door!


credited to and written by: Francisco J. Colayco

The Birth of First World Pinoy

Today is the birthday of First World Pinoy. In this site will rise the start of new breed of people, minds, talents etc. We will dedicate our time and effort to help our dearest Filipino people to become financially literate, honorable, respectful, loving, generous and most of all God fearing.

Its time to be ready , time to make a difference, and time to start this wonderful challenging site.

I am proud to be a Filipino. Kaya natin ito . FIRST WORLD PINOY!!!