October 21, 2009
Ok , going back to morning pages by writing out what I've learned from T. Harv and Robert K --- to entrenched the ideas into my system. First, I'm intent on following T.Harv's advice to set up several accounts for expending my current income , no matter the size of it, which being government employee salary-based, is quite nil, but no matter. If I remember right, he also said that initially, what is important is to get into the correct financial habits and entrenching them into my system so they become quotidian and natural. But I'm injecting some adjustments to suit my situation. First, 16.77% of my monthly income is appropriated by the government before I even laid hands on it in taxes. Fine. But then again, taxes are really paid out of my Necessities account (which according to Harv should be about 50% of tax-net income). They are my payments for my use of roads and bridges, my use of police/military protection (the latter I hope I won't personnally need), for peace and order in the country, for governance of society so everybody will behave according to the law, etc. I just hope those in government will try to run like the country like a corporation. Taxes are not the privilege of the government, They are payments from the Filipino people for societal goods and services.
Also, taxes are part as well of my Give account ( which according to Harv should be 10% of net). Part of the taxes I pay will go to education and social welfare services and that is good and I support that.
Second, 11.81% of my monthly income goes to insurance and the like and this should take care of my Long-Term Saving for Spending account.
Third, I would need about 39.44% of gross monthly income for my Necessities account for daily reasonable healthy food, stress-free transportation and reasonably OK accomodations.
Fourth, 10% I reserve for my Gift to God/Tithe account.
Fifth, 11% will go to my Long-Term Savings for Investment account.
Sixth, 10% will go to my Education and Play account. They are supposed to be two separate accounts with 10% each , per Harv. But that's OK. I enjoy education,research,reading,learning , so it's really play for me. Play account will also pay for my occasional-getting-frequent dark chocolate-with-almond-or hazelnut-or-walnut fix. Question is where will I get my Paris-trip funds?
So, I guess that accounts for 100% of my meager monthly income. But the start of the habit is there. As they say,if I cannot manage a small income, how can I manage a huge one. Gotta learn.Better late then never.
Bullet-point #2 : From reading R. Kiyosaki , I got this crazy notion of going from quadrant E to quadrants B and/or I ... Would take a quantum leap, so please Father God Creator and Provider, help me . Thank You. AMDG.INDNJC.
All for now....
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