You cannot stop inflation from happening. Prices of goods and services will go up. It is all part of the economic cycle. For as long as you are a consumer, you need to start caring about inflation because it will affect you whether you like it or not. No one is exempted from the pain of having to go through the rising prices of goods and services, wherever you are in the world. The good news is that there are some things that you can do to protect yourself from inflation
“Why buy vintage and antique items?”, I’ve always been asked this question by people around me. I would like to address that question on this blog.
All of us who are stuck in the rat race know the daily stress of work and the anxieties we have for our future even as we worry about the present issues that our families are struggling with. The chart of expenses below compares the expenses of the regular employee to their house helpers. The comparison may seem funny but the situation also tugs at reality in a major way.
Putting your money on a low interest savings account is not such a good idea especially if you have big financial goals such as buying a house, sending your kids to college or saving for retirement. The only way to get more money is to make your money work for you by investing it. Investments will generate more money for you in the future through interests and price appreciation. In other words, you invest to create wealth.Read More »
You have been working very hard all your life. Yet, you found yourself in the same financial situation over and over again. Your income is barely enough to cover your basic needs. You are trapped in the rat race. You often wonder, what is it that you have been doing wrong? How come there are some people who are getting richer and richer by the day while you who had been working very hard is getting nowhere?
Parking your money in a regular savings account is never a good idea. Warren Buffet, one of the world’s most successful investor of our time has this to say about investing in cash:
The one thing I will tell you is the worst investment you can have is cash. Everybody is talking about cash being king and all that sort of thing. Cash is going to become worth less over time… Cash is a bad investment over time.”
Compound interest can either be your best friend or your worst enemy. It all depends on how you use it. You can either gain from it or you can loose a lot because of it. Your life can be much better or much worse than you already have. It’s your choice.
How many athletes, movie stars, heirs and lottery winners do you know who have gone from filthy rich to flat broke? Although it is hard to create massive wealth, it is even harder to maintain wealth over a long period of time. Whether it is creating or maintaining wealth, the secret behind it is having the correct mentality. The truth is that rich people think differently than the average person. So, if you want to be wealthy, you got to have the correct mindset.
According to Chinese folk legend, the seventh lunar month is the ghost month. During this time, the gates of hell are supposed to be open so bad spirits roam the world of the living. For 2018, the ghost month starts on August 11 and ends on September 9.
Generally, believers are not supposed to put themselves at risk during the ghost month. Major decisions such as getting married, buying a house, changing jobs, signing contracts, traveling, having a major operation or starting a business should not be done during this period.
Minor things such as not staying at home at night are also practiced. It is believed that spirits will follow you back if you roam around at night. Taking photos at night is also a no, no. You might capture images that you don’t want to see if you take photos at night.
According to Robert Kiyosaki, “an ASSET is anything that puts money in your pocket.”
He also says that your house is not an asset and is in fact a liability. Is that surprising? There are other things we think are assets but are actually liabilities. Based on this definition, check your list of assets and see if they really are assets or not.
Ideally, your assets should exceed your liabilities to enable you to build your wealth and enjoy financial freedom.