ABC's to Financial Independence

It’s funny how a lot of people will excitingly raise their hands to the question of.. 

“Who wants to be a millionaire?” 

..but only a few (and some will even hesitate) wants to pursue the necessary work to achieve financial independence. 

What then is financial independence? 

A lot wants it but only a few clearly defines what financial independence is for them. That is why, most people end up quite unfulfilled in their (specifically) financial goals. 

Now, let’s define financial independence in this simplest form. Let’s imagine that we are shopping in a department store. Look here, look there...and voila! There it is, the item that you really want. Pick it up! Disregard looking at the price tag. Hurry! Go to the counter! Pay! 

How do you feel? 

For some, it will be horror. Why? What if they don’t have enough cash on hand or it’s another expense on top of the piled up loans and debts they have?

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4 Ways of Borrowing Money Responsibly

When it comes to personal finance, tooics usually revolve around three things: saving, investing, and debt.

And debt seems to be the most of the three as even people not interested in personal finance will encounter and use it.

And today we have guest blogger Kyle to help us use debt responsibly.

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IMG Convention: Global Campaign for Financial Literacy

Last February 5, 2017, IMG once again went to the Lion City - Singapore - for its first convention for the year 2017. Members from various parts of the world and their invited guests came to take part in the event held at the huge Max Pavilion of Singapore Expo.

IMG SG Convention 2017 - Max Pavilion, Singapore Expo

Everyone wore their white campaign shirts for the first time to unite for IMG's Global Campaign for Financial Literacy. With its theme, Convention of Campaigners, it was a different convention because there were no WSB trainers from US and Canada and no economic and financial updates from our investment mentors. 

Instead, the focus was on strengthening the WHYs of those who want to join in the campaign of having 1 million financially educated families by 2020. It was very timely and relevant because as a campaigner, one had to have a strong conviction to campaign in spite of the challenges faced. 

IMG's Global Campaign for Financial Literacy

Sharers were picked from among the newly promoted SMDs as well as those who have been successful in doing the IMG career for many years. 

They were people from all walks of life, from various professions and social status but  each with a unique story to tell - a seafarer who got sick he got a wake up call on his spending habits, a teacher burdened by medical expenses of family members, ordinary employees buried in debt, corporate executives laid off from work, high school graduates who learned to dream big, savers who sought more guidance to teach their spendthrift relatives - all their past struggles and how their desire to change their lives for the better led them to IMG. 

And how through IMG's platform of financial literacy, financial solutions and the system, they saw hope for a brighter future for their families and want others to experience the same.

Many were inspired, some were brought to tears. And as an IMG member for almost 5 years already, I was also moved because I was reminded of my WHYs of continuing to share about the IMG mission. 

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Vlog: International Marketing Group (IMG) Singapore Convention 2017

Last February 5, 2017, IMG held the Convention of Campaigners in Max Pavilion Singapore EXPO. It was a blast attended by thousands of IMG members all over the world gathering for one noble campaign: The Global Campaign for Financial Literacy - 1 Million Financially Educated Filipino Families by the Year 2020!

IMG Convention of Campaigners 2017 (source: IMG official)

Check out this Vlog from one of our IMG campaigners and experience the look and feel of being part of IMG's convention.  

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When Is It Okay to Show Off?

Today we have guest blogger Kyle to share some thoughtful advice.
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There comes this inevitable point in your life that you might encounter someone who can’t help but show off everything they have, or maybe you’ve seen #blessed posts all over the place and wondered why these people seem to be more worried about how their social media feeds than anything else.

Showing off is attributed to wanting an identity, or wanting to be noticed for having something that nobody else might have just yet. Being showy is okay in some instances, and in other cases, it opens you up to potential risk. If you’re wondering when it’s okay to show off a little, and when it’s not – here are a few instances for you to consider.
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Tax rip-offs targeting tax specialists are now on the rise: Warning from IRS

Today we have a guest post from guest blogger Sam.
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The IRS has issued a special alert for tax specialists against phishing emails sent by scammers where they ask professionals to update their information related to IRS e-services. Like all scammers, they too try to make it sound very convincing and assert that some particular user’s information has been embezzled and that the account must be updated immediately in order to protect that information. IRS has asked professionals to be very careful of the emails generated by the scammers which lead to a bogus website made specially to collect personal information.
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4 Useful Tips on How to be Office-Frugal

Today we have guest blogger Kyle to share with us some valuable savings tips.
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When you’re at the office, there’s always a danger of needing to spend – whether it’s for your own coffee, or when your office friends want to get out of the office for an hour and have lunch somewhere that work-talk is shelved for a while. It’s worse when they want to socialize outside of the office, because that’ll mean that spending barriers go down faster than The Wall.

If you’re trying to be office-frugal, meaning trying to cut your overhead costs on weekdays, it’ll involve shoring up as much willpower as you can to say no to a whole host of things. Here’s how you can get started.
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Daily Habits That Can Help You to Maximize Wealth

I'm a firm believer that all the little things you do and don't do each day eventually matters more than the "big" thins that happen only once in a while.

And today, we have guest blogger Amanda to share the daily habits that can help us on the road to financial freedom.
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How Freelancers Can Make the Most of Their Income

Everyone financial situation is different, and this mean it's necessary to have your own approach to your personal finances. And today we have guest blogger Maricor to share with us tips for freelancers.
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For freelancers, making the most of their income can be tough.

The main reason for this is because a freelancer’s monthly income tends to be incredibly inconsistent. On one month it could be a significant amount, and on another it could only be fraction of the previous months. This inconsistency can lead many freelancers to overspend on some months and have to borrow money on others.

While there’s nothing wrong with borrowing money, there are certainly better, smarter ways freelancers can manage money. If you’re a freelancer struggling with this same situation, perhaps it’s time you made a change.
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Five Reasons Why You Should Buy Life Insurance As Early As Today

Photo credits: Geralt | Pixabay

Today we have guest blogger Carmina to share with us the importance of Life Insurance.
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9 Financial Threats And Scams You Have To Watch Out For

"Ber" months are fast approaching. Unfortunately that usually also means more scam are headed our way.

Fortunately, today we have guest blogger Carmina Natividad to share with use tips on what to watch out for to keep our money safe.
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In a society, where different faces of crimes are getting more rampant, you can't blame other people for losing their faith in humanity. Criminals give in to illegal doings and take advantage of other people for personal gain. These misdeeds can happen anywhere and anytime, and the scary part is each one of us can be a potential victim.

Now, let's talk about the "root of all evil," as they say - money. Financial fraud is one of the crimes we usually see on television. We witness how thieves have become smarter in stealing, and how their ways evolved from directly robbing a bank and threatening citizens to using digital platforms and technology for luring gullible victims and getting funds from them effortlessly.

Just to raise awareness and eliminate the growing number of victims, we listed nine fraudulent activities these smooth criminals might be doing at this very moment.
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Why is financial education vital to beat the rising student loan debt?

Financial education is not just a need for Filipinos. It is a global need! Our articles have not just inspired our fellow Filipinos but also our foreign friends from all over the world. It is not just a national need but a global need. Below is an article submitted by Amy Nickson, a financial writer and professional content marketer of workingmomsword.com, sharing the need for financial education for students in America.

Why financial education is a need especially for students

Gaining financial knowledge has suddenly become a major topic across the country. Why so? Because most of the American students are not up to the mark in understanding financial knowledge and racking up more debts during their educational life.

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How You’re Wasting Money (and Not Knowing It)

Today, we have guest blogger Kyle Kam sharing with us some insights on everyday spending that we should seriously consider before parting with our money.

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There’s a quote out that says “I’m having an out-of-money experience.” You will find yourself out of cash, and it’s at least 48 hours prior to payday. You ask yourself how this could’ve happened when you were cautious about spending.

There are many ways you’re wasting money and not knowing it. They’re small at times, but when you’ve only got Php 50 left in your pocket, it’s time to re-examine your lifestyle choices.
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Are you ready for Fatherhood?

I recently became a father.

Are you ready for the responsibilities of fatherhood?

As I carried my little baby girl, Nathania, I could not help but feel thankful and blessed to have such an opportunity: Fatherhood. Nothing in the world can compare to such joy I am feeling. 

Nothing - no money, no fancy car, no single thing in the entire universe could ever replace the joy that I felt when I cradled her in my arms.

I felt love. I was in love. My beautiful wife, Rodielou, lying down, my beautiful baby girl in my arms. I feel like I am on the top of the world.

Was there an experience in your life as rich as this? The first kiss, your graduation day, your wedding day, the first time you got a house, bought your car or motorcycle, the moment you proposed or were proposed to - all beautiful moments. 

Imagine going back to those memories and try savoring the feeling. Would you like to keep the feeling as long as you can? Everybody wants to but a lot of people would say that it is impossible to always be happy and I agree with you. 

Truly the best things in life such as happiness are free. But to provide and sustain the best things is not as simple as A B and C. 

We all know that such responsibility is not all fun and games. We need to take care of our families: our babies need their milk, we need to put food on the table, we need to have clothes to wear, a roof over our heads and security for our families to keep us safe from this unpredictable world. 

However, not all couples are ready for such responsibility. A lot of couples fight and why would they? 

Is it money?
Career issues?
Bills?
Husband fired from work?
Wife being not financially satisfied?

All the reasons above have one thing in common: Money. 

In the world today, we need money to help us live the good life for our family and for ourselves as well. 

Most of the time, our salaries are not enough. No matter how hard we work, how many hours we burn, how many people we please or how many insults we take because of work, we are not compensated enough - worse, we are not even appreciated. 

And because we are obliged to take care of our families, we borrow money from people, take out loans - basically, go into debt. It provided us temporary relief but a headache when it is already due. 

Because the money we have is no longer enough to pay our debts and feed our families at the same time, we dig into an even deeper debt until such time that everything we earn goes to just paying our debt.

Tell me, how does it feel to squeeze your income just to pay a debt? Not to mention its high interest rates. It does not feel good! It is sad, but true and a lot of people are in this situation. 

Do you know what happiness is for an adult? It is to be debt-free. To be financially free! We don't need to sacrifice our happiness to provide for our families. 

It may sound impossible to all, but it is very, very doable. And it happened to us because of IMG. 

You see guys, it is easy to go into a relationship: to jump into lovemaking. But mind you, becoming a father, a dad - now that is a different story. Be sure to be ready with the responsibility. 

Pass this to someone you care. Let this be a wake up call. And if you need help we are more than willing to help you. 

This article is written by Financial Coach - Joma Leovent S. Dosdos. a teacher by profession now doing IMG as a full-time career as a financial trainer.

Connect with Joma Leovent S. Dosdos in Facebook 

Want to experience a life of FINANCE, BUSINESS and INVESTMENTS? Experience #LifeatIMG. Be a member now! (Click here)

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The Real Scam in our Midst

A scam is often defined as a dishonest way of making money by deceiving people. However, little did we know that sometimes, what we "don't" know is worst than being scammed.

Here's a true life story from one of our financial mentors in IMG and how financial education should be the key in avoiding the real scam in our midst. 

Life is a war. 

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3 Smart Characteristics of Debt-Free People

I recently posted on facebook an article about how a good portion of Filipinos are in debt. Now, we know that some kinds of debt are good and being in debt is not necessarily bad. However, if 2 out of every 5 people you know is in debt, then it's probably a good idea to at least be more conscious about it.

And today, we have guest blogger Kyle to talk more about how to be debt-free.
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Forex and commodities as alternative investments

The past few years, more Filipinos became aware of stock investing. And from what I read, there's more Filipinos investing now than in the past.

But there's actually a lot of investments available out there aside from stocks and real estate. And today, we have Bwayan Jordison to tell us about some of the alternative investments out there.
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There is no healthy budget without constant vigilance

It's been said that genius is one percent inspiration and ninety-nine percent perspiration. And when it comes to personal finance, it's roughly the same.

Keeping our finances healthy requires constant discipline. And today, we have guest blogger Daniel to talk more about that effort.
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Debt is all around us. It can swallow whole companies, state budgets, and human dreams. Yet, without it, many great individual and collective achievements would be impossible. Don’t let all the pressure and difficulties coming from the financial system get the better of you.  The longer you wait, the fewer options you have at your disposal. Meet the challenges head-on, even if you are in over your head.
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Investing in UITF and Mutual Funds: 5 Things You Need to Know

I've written about UITFs and Mutual funds before. But when it comes to investing, I don't think you can ever be too informed. And today we have guest blogger Zarj from Security Bank to tell us the essential things about UITFs and MFs.
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If you are looking for medium to long term investments, you might encounter Mutual Funds and Unit Investment Trust Funds (UITF) in your research. Both are collective investment schemes offered to investors.

Investment companies typically create a collective scheme from money pooled together from their investors and invest the fund in order to achieve a specific investment objective. Although MFs and UITFs have similarities, they have significant differences as well that may help you decide which one would be a better option for you.

Below is a list of things you need to know about MFs and UITFs.
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Savings vs Investments

When I was starting to invest, I had the urge to go ahead and take the plunge instead of building an emergency fund first. And even after I had an emergency fund, I wanted to go ahead and put all my money on stocks and equity funds.

I would later learn it's a somewhat natural reaction, as other beginner investors I knew and some readers who've contacted me either did the same or wanted to do the same.

But  eventually I found out first hand that it's better to save also and not just invest. And to talk more about saving vs investing, we have guest blogger Hui Min.
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