Finance is defined as the management of money such as the activities that you put into, including investing, borrowing, lending, etc. How you manage your finances will show how good or bad your accounting ledgers as a family. Moreover, how you value the importance of financial management will reflect how you run your business, family, and your participation in the community you live in.
What are the areas of Finances?
There are a lot of important considerations as we unpack the financial management aspect. However, in this blog, we will take a look at how we manage finances as a family. We will talk about the controversial element of finances which is the income. How much do you generate and how much you spend. Did you know that most of the families who got involved in separation has something to do with the money? So as a family, our goal is to arrest this culprit to enable our family’s to have a brighter future as you manage your finances properly.
Good planning and hard work lead to prosperity,
but hasty shortcuts lead to poverty.
Recently, I attended a financial management talk of Enrico Chua and he has justified these Biblical Principles which I think is equally important. I’d like to share this with you guys.
Four Biblical Principles on Money Management
SPEND LESS THAN WHAT YOU EARN. This principle is no brainier. This is easy to understand. It is so simple that many of us are fooled that we do not pay attention to. But these words speak a lot with regard to how we spend our money. I need not elaborate more on this fact but rather we should be concerned about how we consume our money. My wife will always be my conscience and she would always ask when I tend to be so lucrative, she would say, “is it a want or a need”. So assess yourself, are you spending less than what you earn?”
The wise have wealth and luxury,
but fools spend whatever they get.PROVERBS 21:20
AVOID THE USE OF CREDIT CARDS. The use of credit cards can really be helpful but is also dangerous specially if you do n’t have control. There are a lot of significant use of cards which can definitely give convenience, comfort and equally valuable to many. A lot of banks and credit companies use the point system schemes so they can provide money back to customers. However, there can also be loopholes when card usage is not being monitored and service fees and charges are incurred.
Listen to the words of the wise;
apply your heart to my instruction.PROVERBS 22:17
INVEST FOR A LONG TERM. Investment is so important as a family. Investing in layman’s term is setting aside a portion of your money to make it grow over a long period of time. For me, investing is making your money grow while you are working. Investing is so crucial because if you don’t know where to start you might end up being fooled of losing your money if you don’t know what to do. Therefore I recommend choosing your own financial advisor. There are a lot of platforms where you can make your money grow such as mutual funds or stock trading. I created this simple article to give you learning tips on investing here.
Good planning and hard work lead to prosperity,
but hasty shortcuts lead to poverty.NLT
Emergency Fund, Set Aside 3-6 months of Income
Go to the ant, you sluggard; consider its ways and be wise!
Preparing for the unexpected is an important step that you should take to secure your family’s future. Designed to achieve financial security, we provide you affordable life insurance protection & investment plans that can help take care of your family’s needs no matter what happens.
We specialize in
What is life insurance?
Life insurance, simply put, gives you peace of mind.
Life Insurance is designed specifically to take care of the financial burdens that occur on the death of yourself or a loved one. It pays a death benefit (also called “Face Amount”) to your beneficiary at your death. This death benefit can be used for many things, including funeral expenses, mortgage debt or other final expenses. The beauty with life insurance is that you can tailor the coverage to your needs.
But life insurance is expensive. Right?
No, not necessarily. 80% of us are deterred from purchasing the right level of coverage because we believe it to be too expensive; that’s a huge number of our loved ones who are going to be left with debts when we die. There are many types of life insurance policies available, with products to suit every budget.
Yet, because of the specific way that life insurance is calculated (taking into account factors such as age, medical history and lifestyle), most of us will find it to be much more affordable than we originally thought.
Be sure to get your FREE Life Insurance quotes at the bottom of this page!
What types of life insurance policies are there?
There are many different types of life insurance and we are happy to help you decide which coverage best suits your needs. Some of the products we carry are:
Term Life Insurance – Generally the most affordable option, this policy will give you death benefit coverage for a specific period of time or ‘term’.
Universal Life Insurance – This is designed to last a lifetime, which is the main difference between term and whole or universal life insurance.
Basic Investment Tips
People were asking always on where to invest their money well. The basic learning which has taught me how to grow money while working with the insurance industry and corporate job were these two basic investment tips.
1. Do not forget to invest for the long term. Everybody should have a 5-year 10-year goal.
Investing in the stock market has grown more than double. So, do n’t be frightened by the volatility because it is included in the experience of investing. Just keep it there because chances are you can double your money in 5 years or if not, wait for a little while it will double in a few years. That is one of the legitimate ways of gaining your money. In fact the pockets of volatility [does not scare], this is what the wise investors are waiting for in the market. This is where they gain much confidence at a later year. Do not invest because someone else is doing it. Invest because you are looking for long-term benefits.
2. Diversify your investment. Do n’t invest your money only in stocks. It will allow you to make your client stable on each platform. You can get Bonds, Equity and Index so when the market has some hurdle you can hold on to gains at a long-term level. The choice is yours! But what we need you to do is to make sure that your money is growing while you are sleeping because we do not want you to get left behind when the tides of our economy go high in the near future.
When you invest in the market, you invest in the market that has growth. If the market is growing you can buy low and sell high. This is the basic principle. When the GDP is good. what we are seeing, it supports the generation of companies in the stock market on the earnings per share.
Now, when your money grows here comes our suggestions. There are a lot of instruments that you can put your money into. You can put it in the VUL policy which will give you insurance and investments or you c
Hi, my name is Jack Marbida, I am a financial advisor from Sun Life Financial for over 4 years now. My goal is to help thousands of Filipino people understand and embrace the spirit of financial preparation through our program, “Financial Freedom”. I know you need help but you just don’t know where to start. Allow me to help you establish a brighter future. Click here for more information. Check what I have been doing here.