Money Quotes

- June 11, 2016

Are you one of those who still keep notebooks to jot down things?
Well, before apps became a thing to help one in practically anything, I used to keep good old traditional notebook to remind me about expenses and whatnot involving money. I also use that notebook to jot down some quotes I read somewhere.
One of the notebooks I used to keep had these money quotes. Before I lose it, I figure I'll just transfer them here. Hopefully, anyone who may happen to chance upon this little place in the web might find it helpful, the way they were and are helpful to me.

"Bring the whole tithe, into the storehouse, that there may be food in my house. Test me in this, says the Lord Almighty, and see if I will not throw open the floodgates of heaven and pour out so much blessing that there will not be room enough to store it" (Malachi 3:10).
---->Give back a portion of what you have to bring glory to the name of the One who made you were you are!
Even if you tithed, housing should never cost more than 40% of your spendable income after tithing.
"Prepare your work outside & make it ready for yourself in the field; afterwards, then build your house," (Proverbs 24:27).

Hmmm, I can't remember the reason why I wrote this down, but it's probably something to do with the timing on when you should build your house (in my case, taking out a housing loan). I interpret this as something about preparing your finances; thinking about your income, expenses, etc. before taking the plunge of committing what could be your life's biggest expense. I read this after I took out my housing loan. If i were to go back, I would have wanted to save 200K or 300K before taking out a loan.

Allocate money for non-monthly expenses such as clothes, car maintenance, and annual insurance

The message here is to allocate something for those little expenses that will come sometime. Those little expenses will eventually arise, and you don't want to be taking out the money for this from the funds that's been 'labeled' already. Yes, easier said than done, but try anyway.

Don't commit yourselves to monthly expenses based on two incomes.

I probably was thinking then that marriage will be in my picture. Something I could tell the future husband that this is a non-negotiable for me. Maybe, we can tweak, but definitely not to put both incomes as spendable. LOL! But seriously, think about it, married people. It's a sound advice. We don't know what the future holds. One could lose a job, business, or whatever. What will happen then if all your expenses are based on the two incomes?

Avoid---too much, too soon problem.

I think this has something to do with lifestyle inflation and delayed gratification. Don't rush too soon about buying everything in sight. Inflation, which is the rise in prices, can also apply to one's lifestyle. Ponder: how is it that with increased income, one still doesn't feel any richer?

Be self-disciplined today!

Just two words: compound interest. If you make yourself save consistently, and you have time as your ally, coupled it with the right financial instrument, then wow, you have something going here.

"The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty," (Proverbs 21:5).

"Stay with what you know best, and you'll lose a lot less money in the long run."

"A faithful man will abound with blessings; but he who makes haste to be rich will not go unpunished," (Proverbs 28:20). (Weird, but Janet Lim Napoles just popped in my head relating to this, hehe).

"Be anxious for nothing, but in everything by prayer and supplication with thanksgiving let your request be made known to God. And God shall supply all your needs according to his riches and glory in Christ Jesus," (Philippians 4:16-19).

"Let every person be in subjection to governing authorities, for there is no authority except from God, and those which exist are established by God for because of this you also pay taxes, for rulers are servants of God, devoting themselves to this very thing. Render to all what is due them; tax to whom tax is due; custom to whom custom; fear to whom fear; honor to whom honor," (Romans 13:1, 6-7).

I hope there are bits that you'll find helpful in your quest for financial independence. Let's help in promoting financial literacy to fellow Filipinos.