You can be Rich !
Wednesday, April 2nd, 2008
You can be Rich.
I have read some books about getting rich and most of them say the same thing just in different style. So, I would like to summarize them here.
First, It is not how much you earn that counts but it is how much you save. Let’s say you earn 12, 000 pesos per month net, the question is how much do you allot for savings, emergency fund, funds for everyday needs and funds for things you want/leisure fund.
Savings, should be the first priority. Usually, what we do is that savings is the least priority. Earnings minus everyday fund = savings, this is the usual set up. But the ideal set up is Earnings - savings= everyday fund. How much savings do we need to save? Atleast 20% of our earnings. (more…)
