The 10-20-70 Rule

Prior to setting my foot in going abroad and with the knowledge of how much I will earn, I prepared a detailed excel spreadsheet of how much of my monthly salary will be allocated to paying my house mortgage, monthly allowance/allocation for my parents, food, rent and other possible expenses that I may incur.  I never had put aside something for savings/investments on my spreadsheet, because I have lack of knowledge about the investment instruments that I can possibly get into. The topmost priority during that time was instead of paying my house for 21 years, I will strive to achieve to pay it within my 3-year contract abroad.

 

Armed with this, I had myself ready for my financial and career journey.

 

But eeeeek!

 

Leap of Faith!

Just bought another real estate for investing! It is in prime location in the capital city, with 2 bedrooms and 2 balconies! Such a blessing. This entails me to work smarter in managing finances. May this also be a form of blessing to others. Looking forward to helping more Filipinos to also be financially educated and take charge of investing!:)

The Importance of Good Financial Planning

I clicked the start button of Bridgette (my laptop), opened the MS office application for Excel, and drafted a spreadsheet of how I would allocate my funds to arrive at my net worth.  It was a short-term planning, approximately one year financial plan, incorporating all the external factors that would influence my budget and fund allocations in the coming months.  In going through the journey of personal finance, having a financial plan plays an important factor at the starting stage.

I clicked the start button of my work laptop, opened the MS office application for Excel, and drafted a spreadsheet of a financial budget that I would allocate to my team before we start on our fieldwork with our next job client.  As much as we ensure that quality is being undertaken in the job, at the endpoint, the efficiency performance of the budgeted versus the actual results of our fee recovery still has greater bearing, internally speaking.  Hence, financial planning of the job budget is an important factor to always consider at the planning stage.