PAL RAINE

Showing posts with label High School Student. Show all posts

There is always a regret at the end if you yourself doesn't know how to handle your own PAYCHECK.

I read a book " I WISH THEY TAUGHT MONEY IN HIGH SCHOOL - So I'm Not Dependent On My Pay Check". (Book 1)

Remembering back when I am still in my college years, when it's my first time to come across what is BUSINESS all about.

I am a Business Administration graduate major in Marketing, I don't have any backgrounds with my course of study at all. But I really did learned from my course so much, that in business you don't need to study it and become successful, if you cognize to balance MONEY and EXPENSES, you know how to market your product and have that discipline to acquire it, you will become successful.

Taking in a decent job, you work hard and live modestly but still have that balancing risk, weighing your assets and liabilities you still can't hold back living paycheck to paycheck. A hard time in having trouble just making ends meet, the increasing price of supplies versus your paycheck. This is really the sad part, you work hard for money 8 hours a day but the truth is your money works for you 24 hours a day. And by the end you are still negative in your income per capita.

To invest is the answer just to gain back the slack from your income. And what better investment plan is to BUY ASSETS.

As the author have said, and I quote "BUYING ASSETS is what we call INVESTING". Simply because when you buy assets, you put money into your pocket. And that is a better way of investing because we want to be financial secure for our future!

THINGS I'VE LEARNED FROM BOOK 1

When you invest you need money to start. Don't start investing if you don't have a stable job. So better SAVE.
Then if you need a good guidance in investing better read this book, I WISH THEY TAUGHT MONEY IN HIGH SCHOOL(BOOK 1).
Need to practice simpler things in investing. Enroll yourself in a STOCK MARKET, with as little as PHp 5,000 you can start to open a stock for yourself.
You need to invest regularly and systematically with strategy. Just like in the authors example the PLANTS vs ZOMBIES.

photo credit: inju via photopin cc

Wherein the NATURAL LIGHT is your INCOME you receive as an employee. With a fixed rate that comes and slow but steady. The SUNFLOWERS are ASSETS, you invest some sun to buy them, but the returns are a continuous supply of sun that will not only give you back what you spent but to buy other plants.

Nice analogy from the author,a well explained picture that high school student can easily understand.

Added mine here, ZOMBIES are the EXPENSES that get your income unknowingly or knowingly.

My explanation is when you find your income is not enough to cover your expenses and you are dependent with your credit cards simply to pass over your expenses and it flexes out to be a cash crunch, you may see yourself asking for a total budget resources and without knowing it you're totally broke and ruined like a ZOMBIE.

So, learning from this we really need to DISCIPLINE our SPENDING and SAVING. As I've learned with my Marketing course you need to have a BALANCE DIET with your Financial. Get the Balance Right! Maintain your discipline towards saving a percentage of your monthly income and a long way of retirement will continues to grow.

*This is the first book I've reviewed from them, another one will be on my next post:
I WISH THEY TAUGHT MONEY IN HIGH SCHOOL - So I Can Start My Own Business Right Away.