Do you have a sense of awareness when it comes to your
finances? Do you know where you stand when it comes to your financial health?
Kadalasan when I speak to people and ask them this question, ang sagot nila
sakin, either wala silang ipon or may ipon naman daw sila.
I find their answer a little bit disappointing kasi nga, we
need to be aware of your financial status so we will know how far we are from
our goal and to make sure that we are life-ready. We need to be specific, by
specific, it means we need to know how much.
It doesn’t mean that we are relying on money for security.
Only God can give us that, but what I am saying is that, we have to be a good
steward of God’s blessing and that begins by being aware of where we should be
when it comes to our money.
We need to be in control of it, not the other way around and being unaware is a strong sign that wala kang control over it.
So, how can we become financially aware?
It begins by knowing our net worth, how much we owe people,
how much our income and expenses and we also need to know the cost of our
goals.
Do you know how to compute your net worth?
Normally, we are talking about your assets minus liabilities
but I want to keep it simple because The Prudent Millennial is primarily for
regular Filipinos.
Let us begin with the following question.
1 Magkano ang ipon mo?
2 Magkano ang utang mo?
After you get the answer to the following, I need you to
deduct your debt from your savings and the outcome is your net worth.
You also need to know ho much your monthly expenses are and
your monthly income so you can make sure that you do not spend more that you
earn.
If you know these basic things
1 Net worth
2 Debt
3 Savings
4 Expenses
5 Monthly income
It is a good start to manage your finances this 2020.
I have actually created a checklist with a quick guide on
how you can jump-start and diagnose your financial health. Just click on the
link below so you can download it.
https://drive.google.com/file/d/1VG7j6SwKjlmVYEH1C-kiiIbZwYlnnGl1/view?usp=sharing
If you need someone to talk to about how you can manage your
finances, just send me a message and we can set a schedule where we can chat or
meet personally to talk about your financial health and what you can do to make
things better. Just follow the link below
I hope I was able help and I am sure you want to know about the things you need to know. Just subscribe to my page and I am posting information that will help you mature financially so we can have more control this 2020.
Do not hesitate to send me a message, more worksheets are available to help you manage your finances. God bless you.
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