April 15, 2008

Stopping At Step Two

Posted in 4 Steps to Financial Freedom, templates at 11:40 am by kimsan23

I was reading posts on my thread today in Pinoyexchange.Com and one of the posters mentioned something about the will to earn being the primary driver of most people who have succeeded in becoming millionaires.  That post made me realize that to become rich, to get what we aspire, we must follow certain steps.  No one can get rich overnight unless you bought a lotto ticket, got lucky and won! And even that involves it’s own mysterious process as well.

Let me define what I call The 4 Steps to Financial Freedom

STEP 1: ASPIRE (for your financial goal)

Dream about owning your own home, being debt free and having enough money and assets that will work for you through  means like investments and deposits.  Make a plan that you feel will get you to your financial goal.

STEP 2: ACHIEVE (your goal by implementing your plan)

Implement your plans!  Look for the resources you need to grow the existing money that you have.  Make the money work for you.  Implement the plans that will predict gains and losses as well as cite avenues on how you can make your money grow.

STEP 3: ACQUIRE (money into your savings)

Don’t forget to save a fraction of any extra income you may earn.  Many people stop at step two– then they start spending (I used to do that a lot)!  Reserve a portion of your earning to be acquired into your bank account or time deposit.

STEP 4: ALLOCATE (to investment as well as primary and secondary expenses)

After you have set aside money for savings, assess where the rest of your earnings will go.  Prioritize primary expenses and if you have resources left, move on to your secondary expenses.  Practice responsible and practical spending.  Make investments that you feel will help you grow your money.

Less than a year ago, I always stopped at Step 2.  Problem with me was that I didn’t see the importance of saving a lot because all I did was rely on the fact that I get paid every month not to mention my monumental expenses.  I had a savings account but hardly made time to really analyze it’s potential for growth.  Ever since I transferred to a new job, I turned over a new leaf and started tracking my expenses.  It has been easier for me to budget my regular earnings as well as any extra income I earn.

*If you wish to see my money tracker file, just comment here and I will be more than happy to e-mail it to you.*



  1. Juan said,

    Nice post. very impormative. Do you mind to forward to me you money tracker file for me to have a guide to follow in achieving my goal to financial freedom. Thanks.

  2. Juan said,

    By the way, please feel free to reach me at my email j_icaro@yahoo.com. Thanks

  3. kimsan23 said,

    HI Juan…I’ve sent you the tracker.

  4. rose said,

    wow, here’s mine rosalie_rosel22@yahoo.com

  5. bamzki said,

    hi can you sen

  6. tunneltwo said,

    hello kimsan, if you could send me your tracker please, jonas_mariano1987@yahoo.ca. thanks

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