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Tuesday, May 3, 2011

Francisco Colaysco's 10 Commandments on Personal Finance (Part 1)


Francisco Colayco is the author of the best selling personal finance book named Making Your Money Work; Pera Mo, Palaguin Mo! 2, Wealth Within Your Reach; Pera Mo, Palaguin Mo!.

He is a financial adviser and successful entrepreneur, businessman in the Philippines.

He shares some of his expertise about investing and his 10 commandments on personal finance on his books. You can avail the books of Francisco Colayco at amazon.com or just click the book title above.

I upload of his video, explaining one by one of his 10 commandments on personal finance. I hope it can helps a lot to you..

1. Pay yourself first 
 - he tackle about how to save some money from your salary.

 

2. Define your financial target at each phase
 According to him there are 4 stages in financial journey
a) Start up phase -  all incomes coming from active income (salary)
b) Build up phase - 20% of incomes coming from passive income.
c) Fine tuning phase - 50% of incomes are all coming from passive or investment instrument
d) Retirement phase - 100% of incomes coming from passive or investment





I hope you find some interesting tips for your personal finance. Happy earnings!!


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