TrulyRichClub's Wealth Summit 2013

Wanted: Superheroes of Abundance!

Last year, Bro. Bo sent out his invitation for the first ever TrulyRichClub's Wealth Summit 2013. This is a 2-day event filled with a truckload of wisdom from great financial heroes who have walked their talk and can claim the grand title of being Superheroes of Abundance. Moreover, this event is also a call to action for us, "regular" folks, to be our own Superhero of Abundance as well. There is also a bonus 3rd day for those who wanted to go into the field of wisdom-giving.

I am so grateful that I was able to attend the TrulyRichClub's Wealth Summit 2013. It's such a great opportunity to listen and learn from the "big shots" such as Dean Pax Lapid (Professor of Entrepreneurship at the prestigious Asian Institute of Management and the Dean of Entrepreneurship of the TrulyRichClub); Edward Lee (Founder and Chairman of the Board of COLFinancial and Dean of Investments of the TrulyRichClub); Rex Mendoza (President of Philam); and of course Bro. Bo Sanchez (Missionary Entrepreneur Extraordinaire and Founder of the TrulyRichClub, among others). The wisdom generously shared by these great financial heroes truly blessed, inspired, motivated, and called the participants to take charge and be superheroes of abundance too!

The 3-day event (I also attended the bonus day) is so jam-packed with so many wisdom and learning that I don't think could ever be contained and shared in just one blog post. However, I would like to share the key take-away I got from the summit. The list below is definitely not an exhaustive list. My hope and prayer is that upon reading, one or more of the items below would spark a passion for your own desire to learn more and take charge of your financial and spiritual life. Perhaps next year, you'll be able to join us in the Wealth Summit 2014! :)

The MasterMinds from left to right:
Rex Mendoza (Philam); Dean Pax Lapid (Asian Institute of Management);
Bo Sanchez (TrulyRichClub); Randy Manaloto (Citydorms Corp.);
Ronnie Siasoyco (Trion); Junie Toreja (Toreja Corp.);
Edward Lee (COLFinancial); Larry Gamboa, Ph.D (Think Rich Pinoy)

Key Take-Away from the Wealth Summit

• True wealth is not about having money. True wealth is when we have a true relationship with God. As we create our multiple money machines and grow our finances, we also share our time, talents, and treasure to our inner circle and to the people outside our circle because we believe that our wealth is ultimately for the people that we love.
• You don't need to be great to start, but you need to start to become great. (Zig Ziglar)
• We need to have a big (emotional) WHY. 
• Love what you do and be a superstar in your niche. If you're not a superstar in the current field you are in -- (1) ask yourself how you can be a superstar and do it; OR (2) change your field where you can be a superstar in it! (Bo Sanchez)
• If you want to be wealthy, you need to have your own business -- this could be through entrepreneurship, equity, or estate. 
• You want to learn? Get out of your circle. Get mentors. Build and nurture relationships.
• If you want to be successful -- FAIL, FAIL, FAIL, and FAIL some more!
• Get into the habit and discipline of saving and investing, BUT enjoy the process to fuel your dreams. (Rex Mendoza)
• Secret of success: REPEAT, REPEAT, REPEAT, and REPEAT some more!
• It all starts with your belief system. 
• New financially literate formula: "Income - Investment = Expenses" (Edward Lee)
• 2 skills you need to learn to be a Superhero of Abundance: Produce wealth (sell something of value) and reproduce wealth (learn to increase your income by investing). (Bo Sanchez)

As the Buddhist proverb says, "when the student is ready, the master appears." When you are finally ready to take that first step towards your financial freedom -- I would like to invite you to join the TrulyRichClub where you will be mentored and guided on how you can change your present so you can have a more prosperous and bless-filled future. To learn more about the blessings that await you for joining the club -- please click the link below:

YES -- I want to have a more prosperous and bless-filled future for me and my family!

Praying for your happiness,

Joanne

Pay Yourself First

One of the best lessons I learned from my financial journey is how to pay myself first. Well, actually, to be more accurate, it's "pay back to God" first by tithing, then myself second. But for the purpose of this post -- let's talk about setting aside and not touching our earnings for our savings and investments first, then live on what's left of our income for our other expenses. As opposed to spending our hard-earned money paying our bills and buying stuff, then saving what's left of it (if there is something left that is).

Why It's Important to Pay Yourself First

I was taught at a young age that I should not be selfish and greedy. Being the eldest, I learned how to share and be generous with what I have and to put the needs of others first before my own. It comes naturally to let other people pass before me; stop what I'm doing to be of assistance; and to put aside what I want if it means not being a burden to other people. I didn't see anything wrong with it, in fact, this characteristic of mine is often praised by others.

As I grew older, I felt that I have allowed myself to be available and generous for everyone but myself. As much as I highly treasured my friends and family, I have nothing to give myself but cutting words that hurts too deep. I spent so much time in making sure that I please everyone, but I failed to spend time making myself feel good. Ultimately, it brought me to a breaking point and I found myself lost and drained of life.

Now, I am making it a point to be generous with myself and not feel guilty with prioritizing myself first. I learned that when I invest in making myself feel good, this translates to my outside world as well. My relationship with other people is much richer and fuller now than my half-assed attempts before. In the end, everyone benefits. 

The Concept of Paying Yourself First

"Paying yourself first" means that when you receive your salaries, you allocate a certain percentage to your savings and investments first, and make sure that you do not use this money for any other expenses other than what you have saved it for -- your future self.

Let's say your goal in saving money is to have an Emergency Fund. Then one day, the latest iPhone 5 was launched and you wanted to buy one. However, you found yourself short of cash and you've used up all your credit card limit. Even if you are itching to touch your savings -- DON'T. Stop eyeing your savings and just put off buying that iPhone 5, until you have the money to buy one, because purchasing this latest gadget is not an emergency but a luxury. You have to remind yourself that the reason why you're saving is because you want to have a cushion for yourself for emergencies such as job loss or illness.

Ultimately, this is what paying yourself first means for me. You give priority to what you value most in your life. You invest in your needs first, not wants.

A Paradigm Shift

Moreover, paying ourselves first doesn't only benefit us but others as well. In my experience, paying myself first caused a paradigm shift in me that translates and affects my way of living. And I believe that this can also happen to those who practice paying themselves first.

Financial Security. Safety and security is the second basic needs of human beings, according to Maslow's Hierarchy of Needs. When we have savings, we have something for rainy days. There is a sense of security that even if an unforeseen event strikes -- like losing a job or someone in your family needs medical care -- you know you have savings to fall back on. This sense of financial security lessens our anxiety and helps us have a more positive over-all feeling.

Abundance Mindset. As we see our savings grow, we have a concrete visual of abundance in our lives. As we are continually exposed to this financial abundance, our focus is being shifted from lack to abundance. The Law of the Universe says that "the more we focus on a particular idea or thought, then we will attract more of this idea or thought". This means that the more we focus on abundance, the more abundance we will attract in our lives -- not only financially but in all areas of our lives as well.

Natural Giving. When you pay yourself first, what you are really practicing is generosity. Although you are starting to be generous towards yourself at first, as this becomes a habit, you will find yourself being more generous towards other people as well. It's just the joy and the fulfillment in giving that will move us into becoming natural givers, I believe. And for me, this is the most rewarding of all because I am able to be a blessing for others as much as I am blessed.

These are just some of the paradigm shifts that I have experienced by practicing paying myself first. I'm sure there are others more. If you are already practicing this, I would love to hear how paying yourself first changed your life! =)

On my next post, I will share with you the methods I use in paying myself first.

Praying for your happiness,
Joanne

New Page Launched: Lessons from My Financial Journey

16 October 2010 -- In my "How to be Financially Free: Introduction" post, I have made a rather daring proclamation that I will achieve financial freedom in the near future. I also declared in that post that I will chronicle this journey in my "How to be Financially Free" series.

A "how-to" series seems a little daunting because it kinda gives off the impression that this will be an instructional series. That I have some sort of expertise on the matter, in which others could follow and expect to succeed.

I don't really consider myself as a teacher and I definitely don't have the expertise to teach anyone just yet. With this, I came up with a more appropriate title for this series of mine -- Lessons from My Financial Journey. I believe that this captures more accurately my purpose for writing this series (and really my purpose for this blog). I wanted to share my stories and journeys in hopes that through my sharing, others will be blessed. That they can take away something from my personal stories and apply into their lives as they see fit.

"Lessons from My Financial Journey" is where I share my own personal journey towards financial freedom. Here is where I hope to share what I have learned from books, mentors, articles, and most importantly, from being a member of the Truly Rich Club. Here is where I will share the steps I have taken, am taking, and will be taking as I embark on my journey to being financially free.

My hope and prayer is that as you read my posts in this series, you will also be moved to start your own journey towards financial freedom. For you, I pray a life free of debts; a life free of financial worries; a life free of financial limitations. For you, I pray a life full of generosity and charity; a life full of giving; a life full of blessings received and blessings shared. Amen!

Now on to the posts! ;)