Category: Business

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Business Life Updates

What is Brewing @ Rich Money Habits

It’s 2 AM in the morning and I’m still typing away at my keyboard. I really just wanted to take this time to share with you what I am busy with lately, and let you in on an exciting project that I will be launching very very soon.

Three $100/ month income stream goal for 2011 explained

As you know, I’ve shared with you my personal goals for this year. One of those goals is to generate at least 3 streams of income generating $100 per month each. To some of you, it a small amount. Why not make a goal of earning a million instead?

Here’s why.

I’m not crazy. 🙂 I know how to be realistic given that I still have a full-time day job I go to work to almost everyday.  But that’s not really the main reason why.

Right now, I’m actually more focused on learning how to set up systems to create little streams of income that will give cash flow in the future.  If it turns into a profitable venture later on and I end up earning a million, well and good!  If not, I know I will do better next time.

I understand it will probably take a lot of time, money and effort from me in the beginning while I’m still setting up the systems.  But my hope is that once the systems are running smoothly, it will take less and less time from me to maintain it.

To be honest, I can actually earn the $100 a month quickly out of the decent income coming from my day job as an IT consultant.  Unfortunately, it comes with a stiff price.  It still requires my time and effort day in and day out.  So if I want another $100 for next month, I’d have to show up again. If I don’t show up, I won’t have any income. And it does take a lot of my time and effort showing up with the same energy every time.

The Challenge

The challenge is to learn how to setup systems so that it will be able to automatically bring value to other people, people who are willing to pay for the value they receive. Which, in turn, will give additional stream of income from this blog.

My goal for this year is to focus on setting up those systems to be able to at least support this blog. And $100 seems like a good amount to start with. I know, embarking on this project will not make me rich right away. I might even lose some money for investing on setting up these systems.

But to me, I value the experience more than the income. I know I will learn something valuable from the experience. And those lessons will help me in the long run.  That makes it so exciting. That’s why I want to get started right away.  🙂

Current streams of income for this blog

A few days ago, I learned that I actually reached $100 income from Google adsense. Yes, finally! After, 1 year and 4 months! 🙂  Some people may say, “What?! 1 year and 4 months?!  Why so long?”

I know it’s a long time. And I’m ok with that.

It’s something that I decided early on when I created this blog. I don’t want to focus on ads alone. I want to focus more on bringing value to you.  And if that means removing or at least minimizing distracting ads, I am all for it.

Another income stream that’s been helping support this blog is the affiliate income from referring my friends to Bo Sanchez’ Truly Rich Club. My wife and I have been a member for around 2 years already and so far, we’ve learned a lot and been blessed bountifully from joining the club.

Do you want to know my secret in deciding what to stocks to invest on?  It’s Bo’s monthly Stocks Update Newsletter sent exclusively to members of the Truly Rich Club.  The newsletter lists down recommended companies that are worth looking into along with their potential gain if they hit their target price.

Reading through the list of recommended companies helps me get started in focusing on specific companies that I want to research more on.  Some of which I could later decide to invest in.

What to expect from Rich Money Habits in the coming weeks

In the coming weeks, there will be a lot of exciting things happening here at Rich Money Habits Blog.

The first and most important — I will be launching my very first product for the year 2011! Yehey! 🙂 While I don’t expect to become a millionaire from this one product alone, I hope that this is a start of something remarkable.

My hope is that this will help me in my goal of creating a monthly income of $100 a month. When you think about it, that’s just PhP 5,000! If I just have a little bit of initiative, I can go find a job that could pay me that amount doing ordinary stuffs.

Why Launch Your Own Product

One thing I learned while promoting other people’s products is that you have very little control over how the product is created and delivered. You rely heavily on the other party’s integrity in delivering value to your friends when you refer it to them because to be honest, you really don’t have any other choice.

That’s one of the major reasons why I’ve not been focusing much on Google adsense.  I don’t have a clue on who is behind those automatically generate ads.  I’d hate to think I might be promoting a sleazy or scammy product that cold potentially hurt you.

That’s why I am working hard on giving something more valuable by releasing my own product soon.  At least, I’d have the control on making sure that I create and deliver something really valuable that can really help you in your journey to financial freedom.

Almost ready for launch

My very first product of the year is almost complete. My wife has been helping me out with it a lot lately.  It’s like our mini-project outside of our daily jobs, where we create something remarkable together.  Besides, I’ve had so much fun because it’s our little bonding moment at the end of each day.  I guess you can say it’s a product out of love (Cheesy, I know, but what the heck Valentine’s day is almost here)! 🙂

I will be launching my very first guide “Rich Money Habits – 8 Ways To Shift Your Money Habits and Be Rich!”. If you’ve been visiting this blog for some time, you might notice that the title looks familiar. And it is!

The ebook is actually based on the highly popular Rich Money Habits 101 Series Newsletter, where more than 1,200 have already been blessed.

Here’s what they have to say about the Rich Money Habits 101 Series:

“Very informative, full of good ideas!”

–  Fred from Cebu City

“Very personal, very simple from the heart lessons about finances!”

–  Anna from Mandaluyong City

“Thought provoking!”

– Rod from General Santos City

“Concise, informative and a good read!”

– Deo from Urdaneta Pangasinan

“Eye-opening thoughts and financial advise on wise investing”

– Francisco Jr. from Butuan City

“It’s complete advise on how to reach your financial freedom. The insights are very helpful. From changing your mindset and habits to the “How-To’s” of different vehicles to financial freedom.”

– Gailord Fidel from Mandaluyong City

“It addressed issues that I hadn’t recognized in myself before and also it came just at a time when I was starting up a business. Now I am always looking out for what I may be doing wrong and making sure that this time around I am developing only rich money habits.”

– Lissa from Lusaka, Zambia

“I liked the part about saving 20% of your income. I had difficulty saving before I read your Rich Money Habits series. I was paying first all my debts and expenses when salary day comes and what was left which was almost nothing to savings .Now I’m learning how to save properly with discipline and determination.”

– Rowena from Alkhobar, Saudi Arabia

“Fantastic! I like the idea of protecting your money from its enemy including yourself…and to invest early in life like planting a tiny seed if you want to succeed financially. These great ideas, I think should be taught to every poor and struggling Filipino. Had I read your blogs early on I should have protected my money retirement money. But its not too late anyway. I got the idea, applied it, and also shared it to others.”

– Eduardo from Malaybalay City

“All of the ideas in Rich Money Habits series are very helpful!”

– Johnry from Cebu City

“Informative. Relevant and true to life experiences. Proven and tested.”

–  Leo from Manama, Bahrain

I am going to be very upfront with you. 80% of the Rich Money Habits guide ebook is based on the same material found in the Rich Money Habits Newsletter. I know I am taking a big risk here for letting that out. But being honest with you is more important to me than having that extra sale.

I am a straight-forward kind of guy and I hate misleading people.

Why buy the ebook if you can get it free through the newsletter? Great question. And in all honesty, I think it’s something a lot of people will probably do. And I am ok with that. It means more to me to have you receive this information any way you want than making the extra buck.

However, I do realize that some of you still prefer to consume the material in a more readable format, where everything is together in one neat package available right away, and not have to wait for several weeks. The Rich Money Habits guide ebook gives you that choice to get all the information you want in an instant.

I understand that this will not be for everyone. My only hope is that the income from those who buy the Rich Money Habits ebook could at least support the newsletter so that more and more people can get the inspiring articles for free.

It takes money to maintain the system that send out each of the Rich Money Habits Newsletter issues every week to the more than 1,200+ subscribers (and still growing rapidly!).

Launching this ebook not only gives an option to those who want to get the information in a more readable format, it will also allow me to make the Rich Money Habits Newsletter available for free to a lot more people!

This way, I can focus on providing more value to you.

Win, win, win! 🙂

That’s all for now.  This is already getting too long.  It just shows how excited I am on this new project I am embarking on!

 

 

P.S.  Come join me in this journey!  If you want to get into the priority list to get HUGE discounts and bonuses once the Rich Money Habits guide is out, you can sign-up here!

P.P.S. If you are a personal finance blogger and would like to post a review or you just want to help me promote the ebook as an affiliate (yes, you too can earn from this!), just send me an email through the contact page, and I’ll work out the details with you from there.

Categories
Business Credit Card Investing Life Updates Money Mindset Personal Finance Personal Growth

Looking ahead to 2011

Last week, I shared my reflections of the past year 2010.  Today, I’d like to share with you my personal financial goals for the coming year 2011.  This is actually my way of challenging myself by publicly declaring my goals for the coming year.

My 3 major financial goals this year 2011

1) Create at least 3 new streams of income earning at least $100 per month each

Right now, I am still working full time at my current job as an IT consultant for a credit card company.  While I do enjoy my job, I still want to have more options.  I want to be able to one day control my income streams.  Having a job is good.  However, it is only a temporary solution to a permanent financial problem — not having enough money.

I’ve been fortunate to earn quite enough to be able to sustain me and my family and have some extra money saved every month.  The big challenge for me this year, just like in the past year, is to learn how to invest a portion of that money for my family’s future.

I don’t exactly know what the 3 income streams will be.  One thing is for sure — for this year, I’d like to focus on investing to generate more cashflow.  Last year, most of my investments had pretty good returns.  The only problem is, they were only capital gains. There’s no monthly cash flow.  This year, my goal is to learn to invest for cash flow and capital gains.  I’m considering putting up a business.  Or perhaps finally invest in a property and rent it out.  Or may be I can explore going into franchising.  I will share more to you as I get clearer on how to achieve this goal.

2) Go somewhere I’ve never been to for a week, every quarter of the year.

This is my way of growing myself.  I feel I haven’t grown that much personally and haven’t widen my horizon for the past year.  This year, I want to go somewhere I’ve never been to. Either in the Philippines or outside.  I’d like to experience and learn new things to keep my hunger alive.  I’d like be able to share exciting stories.  I’d like to be able to know what it feels like to discover and be amazed again.

As I shared last week, I was able to travel to Bohol with my wife last December.  It realy felt good just doing nothing, hearing the soothing sound of the waves while trying to relax in a hammock by the beach.  Working in a fast-paced IT and financial services industry sometimes takes its toll on my mind and body.  I feel I need to freshen up every once in a while to stay sharp and energized.

3) Weigh no more than 85kg at any time of the year.

It’s been one of my greatest struggles every year to keep my weight down.  I am getting sick quite often the past year.  I can’t go on and blame my work or my lack of time for exercise.  I know that it’s just a matter of building new habits in terms of my overall health.  Eat right. Get some exercise.

So this year, I want to be able to maintain my weight to a more manageable level — no more than 85 kgs.  It will take some time, but I’m ready for it. Let’s bring it on! 🙂

I know goals #2 and #3 don’t look like a financial goal at all.  They seem more to do with personal development than money.  I totally agree, it looks that way.  And it’s the way I prefer it.  I personally think it is very important to take care of my mind and body in my journey to financial freedom.  As I’ve described in one of my articles, your health is more important than your money.  Without it, none of your other financial riches really matter.

2011 Goals for Rich Money Habits

My goal for Rich Money Habits is to be more consistent in posting new articles — at least one per week.  As I share my thoughts to you, I gain more clarity.  The clearer I am with the things I want, the nearer I am to my goals.

Here are some of the things I’ve been thinking as I was doing some planning for Rich Money Habits this year.

– create more useful articles
– find more ways to reach out to more people
– find more ways to help you in your financial goals
– launch a product that helps you manage your money better
– redesign blog so you can navigate it easily

As you might have probably guessed, most of my goals above are still in the works.  And quite general, if you might add.  I still don’t know what exactly I am going to do.  But I think the important thing is to use these goals to remind myself what I need to focus on — helping you.  Everything else is secondary.

Cheers to an exciting year ahead!

Categories
Business Life Lessons

How to Build a Successful Business

This article describes the 3 tips on how to do build a successful business.  This is part 3 of a 3-part series on the lessons I’ve learned from the recent Money Summit and Wealth Expo. 

If you missed the first 2 articles, you can read them here

Ask anyone of your friends and at least one will say they dream of starting their own business someday.  The fact of the matter is, it’s easy to start a business.  The hard part is building it into a successful one. 

They say 1 in every 10 businesses fail in the first 5 years.  Of those who were able to survive, 1 in every 10 will fail in the next 5 years.  Here are 3 tips I learned during the Money Summit and Wealth Expo that maybe able to help you beat these odds.

1) Sell

The secret to building a successful business is learning how to sell. Unfortunately, selling brings out a not so good connotation to a lot of people.  But the fact of the matter is, everyday, you are already selling.  For example:

  • When you were born, you sold to get what you want by crying
    • When you were hungry, you cried and someone fed you,
    • When you wanted to pee, you cried and someone changed your diapers,
    • When you wanted attention you cried and they made funny faces to make you smile. 
  • When you got a little older, you sold your way
    • to play outside with other kids,
    • to play computer games, or
    • to watch TV
  • When you went to school, you sold your parents
    • to give you “baon” (allowance)
    • to buy you a nice school bag
    • to go study at a university
  • When you applied for a job,
    • you sold yourself as an investment to the company and they hired you
    • you sold yourself as an asset to the company and they raised your salary
    • you sold yourself so good other companies are now trying to recruit you
  • When you liked someone,
    • you sold yourself into her/him going on a date with you
    • you sold yourself into being her boyfriend/his girlfriend
    • and then eventually sold yourself to spending the rest your lives together in marriage

The question is not whether you like selling or not.  You have no other choice.  You  are already selling whether you realize it or not.  The only question you need to ask yourself, is how you can be better at selling. 

According to Dr. Rodolfo “Dups” delos Reyes, best-selling author and speaker at the Money Summit, selling can be described in just one word – “attitude”.  To sell effectively, you have to address the needs and fears of your customers.  The #1 need of people is acceptance, and their #1 fear is rejection.

All other techniques on selling revolves around this very simple idea of helping someone else solve his or her problem by having the attitude to be his or her friend.     

2) Solve Problems

According to Zig Ziglar, “You will get all you want in life if you help enough other people get what they want.” When you learn how to solve other people’s problems, they will be more than willing to pay you for it.  Think about it.  Why do you think your boss is willing to pay you your salary if you are not solving his problems. 

Now, let’s ask what are some small businesses trying to solve?

  • a food cart business helps temporary solve the problem of hunger by making it easier for busy people to buy and eat on the go
  • a home-based internet marketing business helps people find the information or products that they need
  • an Ebay business helps collectors find rare items

How about the BIG businesses?

  • Google helps organize information and make it available to you fast…really fast
  • Microsoft helps companies increase their productivity by using their software tools like Windows and Microsoft Office
  • McDo or Jollibee allows people on the go to enjoy a meal fast

3) Build Systems

The only difference between us and Henry Sy, is his ability to leverage the skills and efforts of thousands of people working for him to build his empire of SM malls in the country.  The secret?  He knows how to build systems. 

Can you imagine Henry Sy, doing everything himself? Of course not.  It would be ridiculous.  But that’s what a lot of us are trying to do when we go into business. And we end up doing a job working in the business instead of having the business work for us.

The business system differentiates BIG businesses from small ones.  According to Robert Kiyosaki, you know you have a BIG business when you can take a vacation for 1 year, come back and find your business still standing and more profitable than ever. The challenge then becomes making your business systems work even without you.

How then can you build systems?

One way is through franchising. Franchising helps people get into business by leveraging the systems built by a successful one.  McDonald’s for example, is run by business systems.  Whether you are in Singapore or Manila, a McDonald’s store will practically be the same. 

Another way is to use leverage.  Leverage other people’s skills.  Leverage technology.  Leverage other people’s money.

Lastly, you can get a mentor to help you learn how to build those systems and shorten your learning curve.

 

That concludes our 3-part series on the lessons learned from the recent Money Summit and Wealth Expo. 

 

Dear readers, what other tips can you share to build a successful business?

Categories
Business Investing Life Updates Money Mindset Passive Income Personal Finance Personal Growth real-estate Stocks

Financial Goals 2010 Mid-Year Update

It’s now July! The first half of the year has already passed.  Time does fly so fast, doesn’t it?  So many things have happened and I am still amazed at how this blog has grown steadily over the past 6 months.  Before we welcome the next half of the year, I’d like to take this time to reflect and give you an update on my 3 financial goals for this year 2010. 

Financial Goal #1 – Buy a House!

My first goal for 2010 is to Buy a House.  The short update is…NO we have NOT bought a house yet.  But maybe soon. 🙂

My wife and I actually invested in a house…but only for a private lending deal.  Besides, we won’t actually own the house, so that doesn’t count.  That deal, however, introduced us to great friends doing business in real-estate whom I am learning a lot from.  In the next months I will also be spending some time to learn investing in real-estate myself. 

We’ve also been looking at buying a nice 2-bedroom unit on a pre-selling mid-rise condo.  But this one will NOT be ready for occupancy until April 2012.  We actually paid the reservation already so hopefully, if everything is in order, my first goal for the year could actually be within reach (at least technically). :) 

Financial Goal #2 – Invest 20% of my money

The second goal I have is to invest 20% of my money.  I’ve started investing in the Philippine Stock Market.  I’ve tried the cost-averaging method via CitisecOnline’s EIP and even Bo Sanchez’ SUPER EIP way! The experience has been an eye opener for me. 

Apart from that, I also got into a private lending deal on real-estate.  While I haven’t gotten my money back yet, I’m confident this will lead into more investing opportunities in the future. 

Just last week, one of my friends also asked me to invest in her Travel Agency business.   Normally, I don’t lend money unless I’m very sure I will get my money back.  However, since I know her and the money (including interest) will be returned in just 7 days, I thought it was worth a try.  If this deal goes well, I might be encouraged to invest again in the future and probably open it up also to dear readers of this site.

I’ve also been investing heavily on my personal development these past months.  I’ve just attended the Money Summit and Wealth Expo last weekend to learn more about money, business and investing.  The 2-day seminar was a blast!  The energy from the speakers as well as the attendees was simply amazing!  Up to now, I’m still digesting everything.  I’m really excited to share the lessons I’ve learned from that seminar to our dear readers.  So, watch out for that in the coming weeks.

Financial Goal #3 – Be Consciously Alive

The 3rd and last goal I have is to be consciously alive.  This goal has more to do about my desire to live a healthier lifestyle than anything else.  This is the reason why I think your health is more important than your money. 

While I’m not sick at the moment, my health has not been ideal the past few months.  It is not where it is supposed to be.  My lifestyle is not very good.  I still drink coffee a lot.  I am also having a hard time getting enough sleep.  As a result, I’ve easily gotten a cold every now and then.

I’m always in a hurry. Most of the time, I go for fast food.  My weight has increased so much that my pants now hardly fit.  Oh well, it’s a good thing fitted pants are the “in” thing these days.  I don’t have to feel so out of place. 🙂

One good news is that I finally used our condo’s gym.  Finally.  Just today.  And I liked it.  I’ll probably go to the gym more often now.

Quite honestly, this goal is a little bit vague to measure and be actually effective.  So, to make this goal more specific, measurable and make me accountable :-), I’m revising it to say “my goal is to weigh 80 kilograms by December 31, 2010”.  I only have less than 6 months to go so I better get started right away!  Wish me luck!

 

P.S.  Dear Readers, what financial goals do you have for the year?  How have you made progress on your goals now that the first half of the year has passed?

Categories
Business Life Lessons Money Mindset Personal Finance Personal Growth

Plants vs Zombies Money Secrets Revealed

Do you want to know the money secrets of the rich? Discover these secrets from one of the hottest game these days – Plants Vs Zombies.  This article reveals the money lessons out of this unusually popular game.  If you haven’t played this game, here’s your chance to find out why you should.

These days, my wife is staying out late in the night…not because of work, but from playing plants vs zombies computer game.  I was looking over her shoulder one time and noticed how concentrated she was playing the game.  Curious why she gets overly excited over a simple-looking game, I was intrigued.  While listening to her unravel the mysteries and strategies of the game, I realized there are 5 money secrets that can be learned from this hugely popular game.

Secret #1 – There’s a season for everything

There’s a season for everything.  Just like in the bible, there’s a season of planting and there’s also a season of harvesting.  At the start of the Plants vs Zombies computer game, you have to plant sunflowers.  And when they bear fruit in the form of sunlight (weird huh?) you get points.  The more you plant, the more you can harvest later on.  It’s as simple as that.

Unfortunately, in the real world, we often forget to plant.  We become impatient.  We want the fruits (a.k.a. sunlight) right away.  You want that new car, even if you don’t have any savings and you’ve just started a new job.  You say, no worries.  I can secure a loan anyway.  What’s your “sunlight”?  New house?  New mobile phone?  New LCD TV? 

In the midst of this obsession for chasing these things, we should also keep in mind the most important thing – where’s your plant?  Are you planting seeds that will turn into money machines that will bear fruit and give you money later on? 

Secret #2 – The secret to success is preparation

One time, my wife was complaining to me how she’s so frustrated at a specific stage in the plants vs zombies game.  Apparently, it’s already her nth time repeating that level and she could not get around the zombies.  These creatures always overwhelm her, no matter what she does. 

After some time, I was startled to hear her jubilantly scream “YES! I finally defeated the zombies”.  Without me even asking, she proceeded to tell me how when she gets overwhelmed, she just restarts the game on the same level AND THEN on the next try, she PREPARES way ahead of time.  She plants the necessary flowers and weapons, even before the hoard of zombies come.  So that once they finally come, her plants are more than ready to defend her house by throwing more fruits at the zombies, more fruits than ever thrown at any stage in the game.  Now, it’s the zombies’ turn to get overwhelmed.

While we cannot just restart our real life (that would be like filing for bankruptcy), it’s very important to learn how to PREPARE.  This is the reason insurance and emergency funds are important.  You need to prepare for these things even before you need them.  This is even more evident for life insurance, since the younger you are, the cheaper your premiums will be.  Unfortunately, when you’re young, you are not concerned with life insurance reasoning that you still have a lot of time ahead of you.  You say, that can wait.  But while you’re waiting, the zombies are planning their attack.  Be prepared.

 

Secret #3 – Use leverage

To win the game, you can use different kinds of plants.  Some plants throw only one ball.  Others throw two at a time.  Others don’t throw anything but block the zombies way, delaying time.  Sunflowers, on the other hand, can’t do anything to protect themselves, but they give the most important thing of all – points.  Points to buy the seed for your other plants.

In real life, some people are working their way using only plants with one ball at a time.  That would be like having a job.  Your job can give you money, and scare away some of your zombies (a.k.a. financial problems – like not having any money).  If you have a job, congratulations.  At least you have planted your way to one money machine.

But while having a job helps, it can only throw a ball one at a time.  It’s a slow process.  The richest men in the world, however, own big businesses.  Their plants throw millions or billions of balls at a time.  Take Bill Gates, the billionaire who built one of the biggest software company in the world today – Microsoft.  Or closer to home, you can look up to Henry Sy, the owner of the most successful malls in the Philippines.  They have planted a different kind of money machine – BIG businesses.  

 

Secret #4 – Don’t panic

At every level, you start off really slow.  You plant one sunflower.  Plant another one.  Then your third comes along.  You only need to concentrate on what you can do at the moment.  That is plant more sunflowers to make more money!  Then use more throwing plants to fend off the incoming zombies. 

But once the zombies come in, their faces make you scared.  In real life, zombies do not look like scary creatures.  Often times, they are just unexpected events or people you meet, who forces you to see a better way to live.  So there’s no reason to panic especially if you prepared to the best of your abilities. 

When everything fails, know that it’s ok to restart on the same level.  In real life, this is equivalent to the many lessons you learn about money when you ACT.  When you start your first business, you may find that not a lot of people really need or want the thing you’re offering.  Your business fails.  So when you restart on the same level, like opening up a new business, it would do you good to do market research first to ensure a lot of people would love to buy what you have to offer. 

The most important thing is to just have the bias for action.  Take action.  Even if you fail.  Learn the lesson and try again.  If you fail, restart the game, take a more intelligent action.  Act again and again until you succeed and scream your hearts out to say “Yes! I’ve defeated the zombies!”

 

Secret #5 – Enjoy playing

If you don’t enjoy playing plants vs zombies, do something else.  Play Farmville instead. Or Restaurant City!  Play Cashflow 101.  Get up.  Get running.  Do something. 

In life, if you’re not enjoying what you do, it will all seem like an uphill battle and a huge waste of time.  Are you trapped in a job that you don’t even like?  Are you working 9am – 5pm on something that your heart is not passionate about?  Maybe it’s time to do something else.  Find your passion.  Life is too precious to waste your time doing something you don’t love.

If you’re young, the world is yours.  There’s no better time to be alive.  A lot of opportunities abound for the passionate mind.  Bless the world with your talents.  Help other people with your gifts.  The more people you help, the more the universe will give you what your heart truly desires.

Now, go play!

 

 

P.S.  Do you want to learn how to play the game of money better? Join Bo Sanchez’ Truly Rich Club NOW!

Categories
Business Make Money Online Passive Income Personal Finance Truly Rich Club

Jomar Hilario Internet Marketing Workshop Club Review

Jomar Hilario is widely regarded as Bo Sanchez’ internet marketing guru and the “Tim Ferriss” of the Philippines.  I’ve been a member of Jomar Hilario’s Online Internet Marketing Club since last year.  I wanted to do a review of his online mentoring club for quite a while now, but because of busy schedule I have been putting it off lately.  This time, I want to get the review out ASAP so readers of this blog can take advantage of the huge discounts being offered only until June 29, 2010.

I first met Jomar while attending Bo Sanchez’ Truly Rich Financial Coaching Program.  During the seminar, Jomar shared his experiences on how he got started pursuing financial freedom through various ways.  He animatedly described his adventures struggling to make money through multi-level marketing, taking pictures of houses from one end of Metro Manila to the other by trying to sell/invest in real-estate properties, as well as his initial successes promoting a huge concert through the internet in just 30 days!

In that same seminar, Jomar offered his invitation for a 1-year online mentoring program to those serious about learning internet marketing.  The price is definitely NOT cheap if you compare it to the numerous ebooks about internet marketing out there.  But when you compare it to similar internet marketing coaching programs, which can run up to US $1,000, it is low priced.

Besides, 1-year mentoring offers something else that cannot be found in reading ebooks alone, or even a 2-day workshop.  The 1-year online mentoring program allows you time to digest everything you need to learn about selling and marketing through the internet.  You can ask Jomar to review your blog, ask him questions on any of the online lessons, you even get some special discounts to his other seminars.  As an added bonus, you also have the opportunity to learn from and interact with the other online internet marketing club members through the forum discussions.

In all honesty, when I heard the price, my initial thought was that “it’s too pricey!”  While pondering whether to sign-up or not, I tried to browse through Jomar’s site @ jomarhilario.com.  To my surprise, I saw a birthday promo being offered that time, which gave a whopping 50% discount!  I immediately emailed Jomar to sign-up and the rest is history.

Here’s an actual feedback I shared in the Online Mentoring Club forum discussions a few months ago about my experience with the club.

Reply by Allan Inocente on March 25, 2010 at 10:19pm

Before IMW Club, I earned a measly $1.08 from Google adsense in 10 months of aimlessly trying to learn how to make money from blogging. Since joining the club, my Google adsense earnings have steadily climbed up to reach the all time high of $32.23! That is 30X earnings in less than 5 months of applying the lessons learned from the IMW club.

The great thing about being in the club is that you can go back to the online lessons over and over again…if you still don’t understand, you can post your question in the forum, and someone will always be willing to share a thing or two to help you out with your problem. This is on top of Jomar’s very useful and straight to the point suggestions and recommendations, of course.

Be warned though, the club is not for the impatient nor is it for the half-hearted. The lessons may be simple and easy to learn but finding the discipline and willingness to apply those lessons will definitely play a crucial role in helping you achieve your goals.

Cheers!

Allan Inocente, IT Team Lead
Rich Money Habits @ https://akosiallan.com

Who should sign-up for this online mentoring club?

  • if you are tired of waiting for your next paycheck or promotion
  • if you are constantly frustrated with your measly income
  • if you are not a techie but willing to learn how to earn money online
  • if you have an existing brick-and-mortar business you want to take online
  • if you want to have more time to be with your family
  • if you want to work whenever and wherever you want, even from home

Who should NOT sign-up for this online mentoring club?

  • if you are living in debt or on a tight budget and it’s all the money you have
  • if you are looking for a get rich quick scheme, this is definitely not for you
  • if you are not really planning to follow the lessons
  • if you are afraid of the internet and don’t want to learn anything related to it

It’s been months since I signed-up and I’ve learned a lot since then.  But there is a lot more to learn.   If you do decide to sign-up for a 1-year online internet marketing mentoring program, congratulations and see you at the club!


P.S. I wanted to get this review out ASAP so readers of this blog can take advantage of the huge 50% discount to Jomar Hilario’s Online Mentoring Program!  Unfortunately, this promo is being offered exclusively to Truly Rich Club members until June 29, 2010 only!  So hurry, sign-up to the Truly Rich Club now so you can take advantage of this amazing offer.  Once a member of the Truly Rich Club, you can go to http://www.Bit.ly/truediscount to avail of the 50% discount to Jomar Hilario’s Online Mentoring Program.

P.P.S. If you’re curious, my Google adsense earnings has already reached US $49.81.  Not much, but if you’re like me who didn’t expect to earn anything at all, earning that amount of money “passively” is definitely a huge boost to my confidence!

DISCLOSURE: If you sign-up for a 1-year online internet marketing mentoring program, I get a little affiliate commission.  If you buy through the above link, send me an email with the receipt and I will give you a surprise gift. 🙂  If you don’t buy or or you buy from other links, that’s perfectly fine.  I still thank you for taking the time to read this article until this point.  Dont’ hesitate to contact me if there’s anything I can help you with.


How to EArn from the net - by a Pinoy!


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Bo Sanchez’ Truly Rich Club Review

I’ve been wanting to do a review on Bo Sanchez’ Truly Rich Club for quite some time but I’ve been putting it off due to busy schedule at work.  When I read about Bo’s recent article “How To Be a Billionaire”, I thought people need to find out more about this.

Before I say anything else, please bear in mind that I am (well, technically I am not, but my wife is) a member of the Truly Rich Club, and if you sign-up to the Truly Rich Club, I (or my wife) earn a little income as an affiliate commission.

That being said, this review is not to persuade you to do something you don’t want to do.  My hope is that by sharing my personal experiences with the club, it will help you decide if joining the club will be of help in achieving your financial goals.

 

How did you find about the Truly Rich Club?

A couple of years ago, I was an OFW working as a Mainframe Test Lead for a credit card company in Malaysia.  When I came home to the Philippines for a 2-week vacation, I came across Bo’s 8 Secrets of the Truly Rich book.  At that time, I was really trying to find out ways on how I can grow my hard earned money.  After reading the book, I realized he was actually holding Truly Rich Seminars in the Philippines.   Since I only had a few days left in the country before going back to Malaysia, I was not able to attend the seminar.

A few months after, I learned that Bo created the Truly Rich Club.  Because I wasn’t able to attend the seminar – I was very eager to try out the online club!

Since my wife was the one who has a credit card, I talked my wife into joining the club.  I am very blessed to have a very supportive wife.  She agreed to join in. The next month, we received the 2 months worth DVD videos and Audio CDs we ordered from the club.

 

Why did you join the Truly Rich Club?

I was in a foreign country.  My options were limited.  I couldn’t attend any seminar in the Philippines because I was out of the country.

I didn’t know anything about investing in mutual funds, stocks or internet businesses, especially in the Philippines at that time.  Yes, I learned a thing or two from various blogs and personal finance sites.  In most cases the specific advise on these sites were only applicable to other countries such as the U.S.  I didn’t know if the same thing can be done in the Philippines.

So when I came across the Truly Rich Club, it was like a dream come true.  Joining the club allowed me to learn how to grow my money in the Philippines! Moreover, through the monthly DVDs, I got to watch Bo Sanchez’ interviews and talks.  It was like attending the Truly Rich seminars virtually.

 

What did you like about the the Truly Rich Club?

The content is simply amazing.  When I started, I was looking forward to the next month’s issues.  My wife and I would always checkout the mail box just to see if the DVDs for the month have already arrived.

What I really liked are the very specific information shared through the various interviews on very successful businessmen.  You can see how they view money, their mindset in terms of relationships and on building businesses and character.

The club products are full-packed with information.  I can’t keep up.  There’s a lot of information to learn.  I’m still catching up with the rest of the power talks.

Bo also sends out a weekly Newsletter where he provides stocks update, business advise, and more.  The content is really overflowing, I only wish you could also learn from those DVDs and Audio CDs and get the financial information first hand.

One thing I really appreciate was the smooth transition of delivering the DVDs after my wife and I finally decided to come home to the Philippines last year. We wanted to have the audio CDs and DVDs delivered to our home in the Philippines instead.  We only had to email them our new address and voila! We received the products to the new address.

 

What I didn’t like about the the Truly Rich Club?

When we first started with the club, there were times when the DVDs arrived late.  Since we were always very eager, waiting for the next issue was a torture.

It would also be a great idea to have a forum exclusive to club members where lessons can be discussed or shared with each other.  The feeling of being in a community would certainly help boost members’ confidence when they start to struggle in taking action on those valuable financial tips.

 

Why I recommend joining the Truly Rich Club?

I honestly believe that in today’s world, information is king.  If you are not informed, you will be left out.  You will always be wondering how come others are getting financially ahead while you’re still stuck working at a dead-end job you really hate.

There were a lot of times when I wanted to share the incredible products I’ve watched or heard from the club, but it’s hard because there are copyright issues.  I don’t want to go into the business of piracy.  More importantly, I don’t want to profit from stealing other people’s products.

Thankfully, there’s one “legal” way to help share these products to you.  That is, if you decide to be a member of the club as well.  The Super Gold Package (DVD video +  Audio CD) costs PhP 997 ($37 for International Membership) monthly at the time of this writing.  The Gold Package (Audio CD only) costs PhP 497 ($39 for International Membership) monthly.  The Audio CD is basically a recording of the same DVD video so if you are interested only in listening to the presentations, you can take the Gold Package.  What I do is I copy the audio over to my iPod and I listen to it while working.  The great thing about it is that I can listen to it over and over again.

Bo Sanchez is a preacher so a lot of his talks contain references to passages in the bible.  While I don’t mind since I am a Catholic, others may not be as forgiving.  So if you don’t like hearing the word “amen”, please bear this in mind when you join.

How has the club helped you so far?

After my wife and I finally came home to the Philippines to settle for good, we immediately attended Bo’s Truly Rich seminar.  Even though he was discussing the same basic concepts from his book and the club, it’s still refreshing to see Bo presenting the ideas with my own eyes.  It’s a bit surreal. You can learn more about my experience on the seminar here.

My wife and I also attended the financial coaching program a few weeks after.  After the seminar, I was really excited to finally get started.  Here are 3 things I’ve been exploring since I started taking action on the many lessons from the club and the seminars:

  • RTBs – my wife and I finally started investing in RTBs.  You can learn more about how we opened an account. Here’s an update after we received our first interest income.  And, only a few days ago, we already received the 2nd quarterly interest income.  Yey!
  • Stocks – I’ve started investing in stocks.  I’ve invested through EIP for a couple of months now.  These are small (PhP 5,000) monthly investments on the most stable companies listed in the Philippine Stocks Exchange.  My basic strategy is to take advantage of the dollar cost averaging.  I’ve also learned another strategy from Bo’s Stocks Update that I may try out soon – that is, Super EIP (I think this was coined by Bo himself).  If you want to find out, you can sign-up to the Truly Rich Club or wait for my updates by subscribing to this blog via RSS or Email. Subscription to Rich Money Habits blog is FREE!.
  • Internet Marketing – I am a techie. Having spent the last 8 years of my life working in IT, I am very fluent in more than a dozen languages. Unfortunately, only 3 of them can be understood by human.  No, I am not an alien.  Most of the languages I know, only computers are able to understand.  I can communicate (i.e. program) in Visual Basic, C, Mainframe Languages, Assembly Language, and more.  Which brings me to my point.  I want to be able to communicate to fellow human beings as well as computers.  I want to find out how to present an information product on the internet in a way that the other person will be able to know exactly what he is getting into.  If it is something that will solve his problem, well and good!  If not, at least he doesn’t have to waste his time digging deeper, seeking clarification on that specific product.

What will you get when you join the club?

While reading Bo’s newest book “Choose To Be Wealthy: 8 Habits of the Happy Millionaire” which was launched last Saturday at SMX Convention Center, I got the most updated list of the 11 Big Blessings you will receive if you decide to join the Truly Rich Club.  The list is so much more now than when we signed-up more than a year ago.  It’s really great that Bo is giving away so much.

Here’s a sneak peak of what you will receive:

  • 2 Powertalks every month (instant access via MP3)
  • Bo’s Success Mentors Collection every 3 months
  • 4 Wealth Strategies newsletter every month
  • Daily God’s Whispers email
  • How To Be Truly Rich Seminar
  • How To Conquer Your Goliaths Ebook
  • How To Turn Thoughts Into Things Ebook
  • My Maid Invests in the Stock Market Ebook
  • Monthly update of what Bo invests in
  • Earn passive income by becoming Bo’s affiliate in the Truly Rich Club
  • Earn passive income with Bo’s other internet work

There’s even an amazing “wow experience” guarantee. Here’s how it works.  Should you decide to cancel your membership during your first month of membership, after receiving the stuffs above, the money will be returned to you no questions asked.  You even get to keep all the stuffs that have already been sent to you – an amazing $251.50 value.

That’s all I can share for now.  If you do decide to join the Truly Rich Club, congratulations to you!  My hope is that you become Truly Rich in every sense of the word and share your blessings to other people!  Good luck!

 

P.S.  CLICK HERE  to sign-up to Bo Sanchez’ Truly Rich Club. Once you get started today, I will give you as FREE BONUS my $605.66-value ebook “Rich Money Habits – 8 Ways to Shift Your Money Habits and Be Rich!” Bo Sanchez himself wrote the Foreword to the ebook saying “This ebook contains the most essential tools you need to start your journey towards becoming truly rich.” Simply send me a message through my Facebook Page @ http://www.facebook.com/allaninocente111 after signing up so I can verify and email you the instructions on how to download the ebook. Congratulations in advance to the start of your exciting financial journey!

RMH ebook 3D pic

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Business Credit Card Investing Life Updates Money Mindset Mutual Fund Online banking Passive Income Personal Finance Stocks

Rich Money Habits Carnival – The Psychology of Money

Welcome to the third edition of Rich Money Habits Carnival – The Psychology of Money.  The top picks of this edition all share the same common theme – discovering the psychology of money.

How is Warren Buffet, one of the richest people in the world, different from the rest of us?  Why is it that some people make excuses and others continue to blast their way to success?  How can you get what you want by also giving someone else what he wants?  Find the answers out by reading through our top picks for the month of March.

Rich Money Habits’ Top 5 Picks

  • Your Best Library presents 10 Signs You’re a Financial Disaster posted at Your Best Library, saying, “If you show these 10 signs, the chances are high that you’re a financial disaster.” [RMH] Hilarious! I couldn’t stop myself from nodding my head at the 10 signs of being a financial disaster.  Witty, funny and definitely spot on.
  • Silicon Valley Blogger presents Basic Business Advice from an Accidental Entrepreneur posted at The Digerati Life, saying, “My own story on how I became an online entrepreneur.” [RMH] This article is an honest take on the life of an accidental entrepreneur.  The author said it best in “it’s (NOT) enough to say that your business is filling a need…you should actually be good at filling that need.”
  • Joe Plemon presents Are You An Opportunity Seizer or an Excuse Maker? posted at Personal Finance By The Book, saying, “Some find opportunity when it seemingly doesn’t exist. Others make excuses when opportunity knocks. A great rich money habit is to learn how to seize those opportunities.” [RMH] Great article on why we need to stop making excuses and take advantage of opportunities that come our way.  While reading the post, I remember the movie “Yes, Man” starring Jim Carrey.  It’s a feel good movie about saying yes to opportunities that life has to offer you.“
  • Writers Coin presents Warren Buffett’s Investment Advice: Why It’s So Hard to Follow | Wise Bread posted at Wise Bread, saying, “I almost made a ton of money and then almost lost a ton of money in the stock market. Just goes to show you how hard it is to follow Warren Buffett’s advice on being greedy when others are fearful and fearful when others are greedy.” [RMH] Great article on why it’s so hard to invest like Warren Buffet.  I totally agree that investing is more than money – sometimes it is also about handling your own emotions.  As Warren Buffet said ’be fearful when others are greedy and greedy when others are fearful.’  Unfortunately, working with these 2 emotions is precisely the reason it is not easy to invest and go against the crowd.
  • Learn Save Invest presents Know your position posted at Learn Save Invest, saying, “A personal story of how I saved money on truck repairs just by realizing my position, and asking for a break.” [RMH] Inspiring story on how it pays to know what the other person wants when you try to ask for a discount.  In the end, the goal should be to have everybody win.

Other interesting articles in this edition

On Taxes

Investing

Banking and Credit Cards

Personal Finance

That concludes this edition. Submit your blog article to the next edition of Rich Money Habits Carnival using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Rich Money Habits Carnival – Frugality and Success

Welcome to the second edition of the Rich Money Habits Carnival!

In this edition we will highlight the top 5 frugality and success articles out of the tons of money stories we’ve received during the month of February.  May these articles inspire you to live a wealthy and successful life.  Enjoy!

Rich Money Habits Top 5 Picks

 

  • Steve C presents Why Being Frugal Can Only Take You So Far On Your Path To Wealth posted at MyWifeQuitHerJob.com. RMH – A great read on the age-old dilemma of going too cheap.  Steve argues that raising your income by working on your business gives back way bigger returns than the measly saved income you gain from cutting back  expenses.
  • Faizal Nisar presents Secret of Success: YOU | Be Truly Happy posted at Be Truly Happy, saying, “Creating money begins in the mind. Once you learn that success is a mindset, you can become rich in any industry.” RMH – Inspiring article on taking responsibility for your own success.  The question at the end says it all, “will you take responsibility for your success, or blame others for your failure.”
  • KCLau presents Focus: Achieving Goals posted at KCLau’s Money Tips, saying, “A guest post by Sayeed, a senior manager in a large MNC in Penang on how he achieved his financial goals.” RMH – Interesting article on why we should keep on dreaming.  Sayeed offers 5 tips on how to focus on your dream and achieve it.  My personal favorite – “get 15 minutes a day to read a book, best before going to bed. Develop the habit from there…”
  • FIRE Getters presents A Simple Budget That Works? posted at FIRE Finance. RMH – Very helpful tips on how to make your budget “actually” work.  The article aptly describes the problem of budgeting as being “too complex and rigid” while real life demands “flexibility and simplicity.”
  • Wenchypoo presents Ending Bureaucracy posted at Wisdom From Wenchypoo’s Mental Wastebasket. RMH – Great article explaining what bureaucracy means.  While reading the article, I couldn’t help but compare it to how big companies “bureaucracies” disguised these things as “processes”…in reality, all these “processes” do is delay you from doing what you really need to do in the first place.

Other interesting articles in this edition

Money Stories

Business

Personal Finance

Investing

Other

That concludes this edition. Submit your blog article to the next edition of Rich Money Habits Carnival using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.

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Reader Question: What to do with an extra PhP 50,000?

I recently received an email from an avid reader of this blog.  He asked me one simple question.  He said,

“I have an extra PhP50,000.  I don’t know if I should invest it all in RTBs?  What do you think?  What is the best thing I can do with my money?”

I remember sending a quick note asking him more about his financial situation whether he has any existing debts he can pay off with the PhP50,000 or if he has saved up for an emergency fund.  If he’s financially OK with both, I then asked him if he’s willing to leave his money in RTBs for the long term (at least 5 years)? If not, perhaps he can consider using the extra money to start a small business. 

Upon reflecting on the question, I realized this is a question most of us will face at least once in our lifetime. 

The key to taking control of your own money

If you really want to be rich, one question you’ll have to ask yourself more often than anything else is —

“What is the best thing I can do with my money?”

Do you remember the time you received your last 13th or 14th month bonus?  Maybe, about 2 months ago? 🙂 Suddenly you had extra cash to do whatever you want. Or perhaps when one of your grandmother was so pleased with you receiving honors on your graduation, she gave you a $100 gift?  Or when you recently got your first promotion as a Team Lead and got a whopping PhP 3,000 as bonus? 

All of these brought you the same thing – the sudden problem of having “too much money”.

Now, don’t get me wrong.  I’d rather have the problem of having “too much money” than the problem of “not enough money.”  

Why having too much money is a problem

As some of you may realize, having too much money is indeed a problem.  Granted, not many people are currently facing this problem, especially in this time of recession.  These days, people are more familiar with the problem of “not enough money”.

If you have this problem of having too much money, congratulations!  You have the opportunity to face a different kind of challenge in your journey to financial freedom.  The challenge is to fully utilize your extra money and ask yourself what is the best thing you can do with it.

 

How people try to solve having too much money

1) Spend it

For some, the answer is simple.  Spend it.  Spend it on something you want.  You want that cool gadget they call the “iPad" or the earlier generation and wildly successful “iPhone 3Gs”?  Now, you have the money to pay for it – in CASH! 

Or how about the smooth talking salesman offering you a limited-time-only-special-edition watch for ONLY PhP50,000?  He lets you hold the watch on your hand and shows you how it would perfectly fit into your tiny wrist. After a while, you start to convince yourself. You say “I deserve to have this gorgeous watch”.  After all, you do deserve the reward after so many hours of working hard at the office.

This is the most common way people use their extra money.  Unfortunately, the ultimate question still remains – “is that the best thing you can do with your money?”

 

2) Invest it

For others, it is more complicated than that.  Their solution?  Invest it!  But how?

There are people who define their investments with what they can put under their name.  Invest it in a car or a house, they say!  It is an asset, right?  Of course, it is an asset says your banker.  Unfortunately, he doesn’t say whose asset it is.  The truth is, it is the bank’s asset.  When you pay your mortgage every month, or your car loan, the reality sinks in and you realize that the bank is making money from you.

Other people likes risky & highly leveraged investments. The truth-they are just plain gamblers and not investors.  You will hear them say

“Never mind, give it to me.  I’ll make your PhP50,000 into a hundred million in 3 days. I’ll buy a lotto ticket and when I win, I’ll split the money with you.”

The successful investors like Warren Buffet, on the other hand, live with a different mindset from the rest.  They made their money through sheer hard work, a lot of financial intelligence, and allowing the system to work for them.  Yes, they also lose money.  But they have gained more – knowledge and experience.  After many many years of ups and downs of the market, they still ended up making a lot of money in the process. 

So, which investor are you?

 

3) Donate it

The 2 richest people in the world both donate to charities.  Bill Gates donates some of his money through the Bill and Mellissa Gates Foundation.  Warren Buffet is a big fan of tithing and in fact planning to donate most of his money as part of his last will. 

When you donate, you are allowing yourself to believe that you CAN give.  You allow yourself to believe that life’s blessing is so abundant that sharing it will make it even more meaningful. When you GIVE, you gain so much more. 

Unfortunately, while we busily try to earn a living and make money, we tend to forget that money is a gift to bless yourself and others.  A gift that reflects what is important to you and defines who you really are – God’s blessing to others.

 

In the end, deciding how to spend your extra money is all up to you.  Anyone can advice paying off your debt, save for emergency, buy insurance, or any other advice that seem wise.

The reality is, I do not know your situation.  We are all facing different circumstances.  The advise to start a business may work wonders for some, while it may lead to bankruptcy for others. 

It is only YOU who knows what’s the best thing you can with your money.  Because it’s only YOU who knows what’s important to YOU.  

 

So, what would you do with an extra P50,000?