Mr. Francisco Colayco, if you are reading this, I’d like you to know that I’m a BIG fan of yours! Your book, “Pera Mo Palaguin Mo” is entertaining and the financial tips are easy to follow.
I came across Mr. Colayco’s column by chance when I got addicted to Bulgar. Call me jologs, call me jejemon, call me whatever adjective you want but yours truly indeed got addicted to that tabloid. Off topic, I’m fascinated and at times, irritated by Cristy Fermin’s column there.
Mr. Colayco writes for Bulgar about financial tips. He also writes for Good Housekeeping on a similar topic. You’ve got to get a copy of his books, you won’t get bored and you’ll easily understand what the gentleman is talking about.
Mr. Colayco, here are among your tips that I followed:
1. I’ve cut my Mabuhay Miles Credit card last March 2010 because as you say, credit card interests are the highest. Imagine that 3.5% interest rate per month!
2. I learned to differentiate NEEDS from WANTS. I WANT a BIG house but do I NEED one? I WANT the latest model of cellphone but do I NEED one?
3. I learned to live beyond my means.
4. My husband and I are religiously saving 20% of our income and we are hoping that someday, we could invest it to create a PASSIVE income.
I don’t dream of being RICH. I just want a comfortable life that I can enjoy and let’s be frank, money has a big role in our life. The LOVE of money is the root of all evil. I love to be financially independent so that I can extend help to more people. Aint that a noble reason to dream of financial independence? 😉