28 August 2007

Pay yourself first

Lately, there have been struggling with the finances. The allowances always ran out and there are no extras to put aside. It seems that one important principle is being forgotten, that is, to set aside money first before spending the rest.  Some things must be given up, unnecessary stuff that can do without.  Budgeting is very important but is always taken for granted. It is hoped that this month, financial freedom can be gained again. It is hoped that this reminder help other people experiencing the same problem.

One of the most effective strategies to obtaining dreams and goals:

Money, like water, expands to fill the container in which it is placed. If you lack an objective set of financial goals for your life, you probably reach the end of each month and find yourself broke. You vow that next month will be different, but it never is.

This scenario is certainly one with which millions of people can identify. Fortunately, it doesn't have to be that way. One of the most powerful and effective strategies for building wealth is to pay yourself first.

Start with your monthly bills

When you set down to pay your bills, the first check you write should be to yourself. Decide on an amount you can commit to for at least six months and immediately pay that "bill" by depositing the money into your brokerage, mutual fund, or retirement accounts. You must do this even if you cannot afford it! Then, pay your other bills as usual. If you find that you do not have enough money to cover all the expenses, write down the amount you are short and then find away to raise the money. If this means you have to recycle cans, switch to an off-brand cereal, work a few extra hours, or cancel your magazine subscriptions, do it.

But that's too hard!

Think it sounds too hard? If so, you must answer this question for yourself: is the pain of giving up your "perks" greater than the pain of being in financial bondage? If it is, you need to resign yourself to remaining in the same financial situation for the rest of your life. In fact, if you are prone to using debt as a means of upgrading your lifestyle, the problem will probably grow worse with time.

Taking control of your finances creates a sense of empowerment that will reach into every area of your life. The freedom that comes from knowing that you and your family will be provided for regardless of what may come up cannot be expressed in words. It is something you will experience for yourself when you make the decision that being financially independent and secure is more important than impressing your neighbors with material goods.

Honor your Word

Once most people have given their word to someone, they are careful to keep their promise. They have no qualms, however, about lying to themselves. In order to be successful, you must honor your commitment. You cannot cut yourself any slack. As soon as you miss one "payment", odds are, you will miss another, then another, until you have stopped saving altogether. The secret to success in this game is not so much the amount of money you are investing, but the persistence with which you are doing it.


17 August 2007

Music and Law

Come to think of it, the study of law is just like the study of music. Countless hours must be spent practicing every note so that when it is time to perform  good music is produced. The study of law is not much different. One must study at every possible opportunity to make sense in recitation or exam.

The study of music is usually 5 years, the study of law is about that same time, too.
Not everyone can graduate from the college of music, likewise, not everyone can graduate in the college of law. It takes a lot of courage and determination, sacrifice, and skill. As cliche as it may be -- a lot are called but only a few are chosen.

It's about  the gracefulness, the talent, and the music and sense that is produced. It about that moment in time in the spotlight to perform the best that you can.

At the end of the day only two things may happen. It's either you sound good -- or not.