Saturday, May 2, 2009

make it automatic

I am not as discipline as you think I am. I hate budgets and I don't like sticking to it. I am not a details guy. I still don't know the exact amount of our expenses. But one thing I do practice that has save us and brought us to a place nearer to our financial freedom is what David Bach, author of Smart Couples Finish Rich, "MAKING IT AUTOMATIC"

We have created an automatic system that sets aside all our obligations to MR. FINANCIAL FREEDOM every payday. I am currently using the BPI SAVE UP system that automatically sets aside a portion of my earnings every month.


So example: I earn P200,000 (how I wish). I enroll in BPI save up and program it to set aside P25,000 a month. I am left with P175,000 to spend and do whatever I want with my money.

At the end of the year I have P300,000.

Imagine having an automatic system for the next 40 years before your retirement?

3 comments:

millionaireacts said...

Nice! Maybe you could also visit my site for more personal finance tips. :)

Who wants to see Abstract Art Paintings? said...

Great post! Very informative and helpful… I can see that you put a lot of hard work on your blog, I'm sure I'd visit here more often. Maybe, you want to come by my site too. It's mainly about Do it Yourself Credit Repair . I'm sure you'd find it useful. thanks!

johnythomas said...

Hat’s off. Well done, as we know that “hard work always pays off”, after a long struggle with sincere effort it’s done.
cheap life insurance quotes | life insurance uk