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I have a confession.
I have plugged the leaks in my personal finance. I have taken stock of my finances; I have more than enough in my emergency fund, I have properties I am leasing out, and I am investing in the stock market.
But I still have a hard time living below my means and within my needs.
You see, I was a shopaholic.
The mall was my therapy! I get stressed, I shop. I have nothing to do, I shop. I need to get this same blouse I am wearing in a different color, I shop.
Shopping made me happy!
I have curbed my addiction, thankfully.
Kind of.
ROBERT KIYOSAKI’S VIEW ON LIVING BELOW YOUR MEANS.
So instead of living below your means and within your needs, he asks you to EXPAND YOUR MEANS!
EXPANDING YOUR MEANS does make perfect sense. The rich don’t live below their means.
They make BETTER MEANS.
Robert says that instead of saying “I can’t afford that.”, ask “How can I afford that?” Living below your means limits your imagination and your diskarte and leaves you with feelings of deprivation.
He stresses that Financial Education and learning how to make money work for you would give your more choices and freedom to decide how you want to live your life.
One example he gave was when he wanted to splurge on a new car (a liability in Robert Kiyosaki’s financial world). He did not cut costs. Of course, he can afford to buy the new car, but he used the money to invest in assets that would provide enough cash flow to cover the payment of his new car. It took a little longer, but months later, his investments where creating enough cash flow to pay for his car.
Identifying what you want and creating a plan to get it is the smart way to get what you want and create assets.
One of the ways I am expanding my means is by investing in the stock market.
Consider this. If you live today, the same way you lived yesterday – How can you expect today to be different to yesterday?!
Do something NEW today and EXPAND YOUR MEANS. Do something that can REALLY change your life.
Start investing and create new assets. You can start by joining me and thousands of people trying to expand their means at theTruly Rich Club.
To be honest, I don't live within my means but save enough to get what I want. A litttle patience helps.
I really want to try investing on stocks. I heard my co-attendees talking about their stocks e. Kaso I have little understanding about it pa and I have fears of trying it. I asked Daddy to study it pa but I guess he is too busy to do it now.
You can start by reading Bo Sanchez ' book My Maid Invests in the Stock Market -get it for free by clicking on the truly rich link. then you can decide from there. If you are a member of the club kasi they will guide you, may power talks and loads of materials to make you figure out stocks
Expanding your means indeed makes better sense. We're trying this somehow but we have not tried ETFs yet. I'm looking into it and have seen Bo's site. Is membership in his club really worth it?
It is truly worth it sis. Aside from stock advise – when to sell, when to buy – there are also lots of downloadable materials and power talks from mentors and leaders in the industry. try it!
I can totally relate with the post. I too plugged my personal finances. My guy had a huge financial problem and the kind hearted in me can't help but helped him. I'm back to zero in saving again. 🙁
We (hubby and I) are also trying to save some money bt for some reason everytime we think that we are ahead, may mga pangyayari naman na its not on my control and usually involve money kaya palaging back to zero. It's always nice to invest something and we been thinking about it
I first learned about the Truly Rich Club back in college when I read Bo Sanchez's My Maid Invests In The Stock Market. Unfortunately, I never got around to signing up–so thanks for reminding me about this!
Although we already have an emergency fund, hubby and I cannot invest in stocks yet because we had a lot of expenses these days especially my son's needs. Later on when he is older and had recovered maybe our expenses might lessen. We're praying for that. 🙂
Two of my colleagues were already investing in stock thru COLFinanacial (not sure of the name). I asked him how to invest on such. Mahirap kasi kapag nasa bank lang ang pera, ang baba ng earnings.
There are also banks that recommends investing on stocks. Do you recommend such?
We do not invest in stocks and shares as the market is too unpredictable these few days but am saving up more and putting down more for the loans that we have.