Understanding Personal Finance

2012-05-24T04:27:00.003-07:00

Young as I am, I am clear of my objective in life. I want to earn my first million before I reach the age of 30.

Aspiring millionaire, Jerrick Gerard C. Go

The practice of personal finance is a very helpful process in helping us create awareness on how we can utilize properly our hard earned money and improve our financial standing in life.

I just started the practice that’s why I am sharing it with the world. Good luck!

What is Personal Finance?

As defined by Wikipedia, it is the application of the discipline of finance to your personal decisions. Sounds so serious right?

In simple words, it’s just simply planning how you deal about your finances.

Personal Financial Planning involves:

Obtaining/earning
Budgeting
Saving
Spending

Why learn how to manage Personal Finance?

Aside from its something cool and important, doing personal finance is the first step in achieving financial wellness (internet).

Financial Wellness is a state when your financial situation allows you to:

Meet your goals in life
Stay stable and secure through uncertainties
Invest and grow your wealth.

Financial wellness is when your money is the one who’s working for you.

Now aren’t we all excited to be financially well?

How do I manage my Personal Finance?

It involves three (3) processes:

Assessment
Planning
Act

Step 1. Assess: Determine what type of financial manager you are.

Types of Financial Managers

The 15-30 Survivor
The Great Pretender
The uninformed
The Master

THE 15-30 SURVIVOR

Everything earned is spent

Earnings=Spendings

What is good about the 15-30 survivor is that he/she is capable of surviving till the next pay date. However, if there would be a delay in the payment of salaries then crisis comes in.

THE GREAT PRETENDER

Money Earned is overspent! For LIFESTYLE!

Very dangerous practice. Awareness and acceptance are the key elements. The next step of action is to change.

THE UNINFORMED

You have extra funds but you do not know where to put it. (do you want me to give you my account number for safe keeping? )

THE MASTER

He/she has the capacity to Earn, Save, Invest and Spend

For a life of:

Success
Fulfillment and a
Sense of Purpose

Step 2. Plan: Decide what type of financial manager you want to become. After identifying what type of financial manager you are at present, decide what type of manager you would like to be in the next 24 hours…

Types of Financial Managers

The 15-30 Survivor
The Great Pretender
The uninformed
The Master

After deciding, I invite you to write down your FINANCIAL GOAL and post it somewhere visible that you can see every day.

FINANCIAL GOAL

I want to become a (state type of manager) with a savings of (in words), P______.00 by (feasible date).

Step 3. Identify steps to take to bridge the gaps

Step 4- Act: Execute on the identified steps.

How? Using the following tools:

Statement of Cash Flow
Personal Finance Statement

For more details on how you can avail of a copy of the tool. Email me at jerrickgo@gmail.com.

TIPS FOR BUDGETING:

1. Every centavo counts or is important!

2. Control in buying things you do not need. Buy things you need in bulk to avail bulk discounts.

3. Use the 70-20-10 principle

70% of your money you spend

20% goes to savings

10% goes to Tithes

I hope you enjoyed reading my blog. Please do share it with your friends and stay tuned for my next post.

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Be a Corporate Trainer NOW!

2012-05-12T02:16:00.000-07:00

co-facilitated Coaching Basics.

What is a Corporate Trainer?

As defined by Wikipedia: A corporate trainer is a specialized skill development position in a corporation where the goal is to help improve the performance of the employees. The performance areas can range from "soft skills" or "people skills" to “hard skills” relating to specific technical tasks.

What does a Corporate Trainer do exactly?

We conduct trainings and we facilitate outputs from our program attendees. The technique is program mastery and to actively listen to your participants. Draw and connect their answers to the program objectives for them to better appreciate the module.

How much does a Corporate Trainer earn?

The rate depends upon your years of experience. It may range from P12, 000.00-P40,000.00. There are two types of compensation: (1) monthly compensation and (2) the project based.

Do you need to have a business background to be a Corporate Trainer?

It maybe an advantage but definitely not a requirement. As long as you are willing to learn and I mean learn a lot from experience and from reading books.

Do we have Corporate Trainers in the Philippines?

Yes! We have tons of Corporate Trainers in the Philippines. It's a fun and noble profession. At present, I am affiliated with The Phoinix Consulting Corporation (www.phoinixconsulting.com). As a corporate trainer I get to meet many people from different walks of life. We (participant and facilitator) learn from each other.

What are the advantages of being a Corporate Trainer?

It's fun to travel while doing what you love most!

personal and professional growth
you develop your communication skills and self-esteem
good pay
you get to travel

"Be the change you want to see in the world."

-Mahatma Gandhi

I am Jerrick

Understanding Personal Finance

Be a Corporate Trainer NOW!