Saturday, May 28, 2016

Live on 70 Percent of Your Income

Live on 70 Percent of Your Income
           I can hear you now.
           "Bo, that's impossible. How can I live on 70 percent of my income? I live on 110 percent of my income!”
           I want you to look at the list below.
           If you cut back on buying some not-so-essential items, and invest it in an investment vehicle that grows at 12 percent a year (or more), you'll be earning millions. (NOTE: If you followed the guidance of the TrulyRichClub
 in the past 4 years, your investment would have grown at an astounding 17.3%
           You think it's just a few pesos today—so why not spend it?
           But when you do, you're also throwing away your earnings.
           If you quit smoking, you would earn P6M.
           If you cut back on coffee, you could save yourself P10M.
           If you give up lotto, you'd have another P6M.
           Take a look…
Little Things
Price/Item
Quantity
Month
35 yrs @ 12%
Softdrinks
P20/can
2 cans per day
P1,200
P6M
Coffee
P60/cup
1 cups per day
P1,800
P10M
Internet on-line games, video games, CD rent
P500
1 per week
P2,000
P11M
Ice cream, dessert, junk foods, candy, etc.
P100
1 per day
P3,000
P17M
Cigarette
P40/pack
1 pack per day
P1,200
P6M
Extra cellphone load
P1,000
1 per month
P1,000
P6M
Lotto tickets
P40/ticket
2 tickets per day
P1,200
P6M
Movie tickets
P100/ticket
10 per month
P1,000
P6M
Buying "sale” items
P1,000
1 per month
P1,000
P6M
Total: P74 Million
Fact: You're Throwing Away Millions!
           Obviously, you have to watch your big-ticket purchases.
           That's where a lot of people lose money.
           Example: I've been driving my car for the past four years now. (And it was even given to me!) A lot of people are telling me, "Bo, it's time to buy a new one. You can afford it anyway.”
           Yes, I can afford it.
           But my car is still in a great condition.
           Sure, it isn't as smooth as when it was new. And its interiors are showing its age. Its mileage is pretty huge because I go all over the country.
           But I don't have plans to change it yet. Not now. I'm having so much fun investing my money and seeing it grow.
           May your dreams come true,
           Bo Sanchez


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