Your Wealthy Mind Author : Ray L.

Work Smarter, Not Harder: Three Short Tips About Success and Productivity

July 25, 2019 by Ray L. 1 Comment

Tagalog Version (Click Here)

Have you ever heard the phrase “work smarter, not harder”? One day I was hanging out at a coffee shop and I overheard a young man talking to his older companions (potentially his relatives) about his potential business plans. From real estate, to online businesses, to vending machines, that man had a lot of decent business ideas.

Unfortunately, it felt like he was vastly underestimating the financial risks involved and it also seems like he has very little business knowledge and experience. That’s a recipe for disaster. I still hope he succeeds at whatever he plans to do though.

In any case, while he was talking to his older companions I heard him repeat the words “work smart” and “not work hard”, and how nobody gets rich being an employee (there IS a way if you know how to save and invest properly). It’s thanks to him that I got something I want to write about this week.

What does it mean to “work smarter” and not harder? We have three tips for you here!

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A Short Money Lesson

July 18, 2019 by Ray L. Leave a Comment

There are some rare weeks where we’re a bit too busy to make long and detailed articles. Thankfully, even short ones can contain valuable lessons that you shouldn’t miss, so here’s one from Prosperity: How to Attract It by O.S. Marden!

In a certain chapter of Marden’s book, he talked about the list of personal finance rules from New York’s Y.M.C.A., and it’s called the “Ten Commandments for a Young Man’s Financial Life”. Check them out here!

Ten Commandments for a Young Man’s Financial Life

Work and Earn.
Make a Budget.
Record Your Expenditures.
Have a Bank Account.
Carry Life Insurance.
Own Your Own Home.
Make a Will.
Pay Your Bills Promptly.
Invest in Reliable Securities.
Share with Others.

And there you have the very basics of good personal finance! This is a short lesson, but if you want more details on each of them, just click on the links above to learn more!

Ano ang Gambler’s Fallacy? Iwasan Mawalan ng Pera sa Pekeng Pag-asa

July 10, 2019 by Ray L. 1 Comment

English Version (Click Here)

Noong bumibisita kami sa aming mga lolo’t lola (sumakabilang-buhay na sila noon pa), nakikita ko ang ilan naming mga kapitbahay naglalaro ng mahjong, baraha, at yung makulay na dice game (tinatawag itong “casino” ng kakilala ko) sa kalsada. Nakakatuwa naman talaga ang mga larong iyon, pero kapag may pera nang itinataya, nakakaadik ito dahil sa risk (panganib) at posibleng pagkapanalo. Mananalo ka at matatalo (pero mas madalas kang matalo), pero ang posibilidad na manalo ka nang maaraming pera ay maghihikayat sa iyong magsugal pa.

Sa kasamaang palad, pag nagpatuloy ka mas lalo ka lang mawawalan ng pera. Alam naman natin kung paano nakakasira ng buhay ang pagsusugal.

Maraming rules ng psychology ang gumagana pagdating sa pagsusugal, at ito ang dahilan kung bakit napakadaling mawala ang perang pinaghirapan mo dahil sa isang dealer sa casino, lotto, “gacha” game, o iba pang uri ng sugal, pero sa ngayon paguusapan natin ang isa. Ito ang tinatawag na “gambler’s fallacy”.

Kung ayaw mong mawalan ng pera sa mga laro na kailangan ng swerte, sa investing, at sa iba pang desisyon sa pera na parang ganoon, ito ang isa pang aral na kailangan mong matutunan.

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What is Gambler’s Fallacy?: How to Avoid Losing Money on False Hope

July 10, 2019 by Ray L. 1 Comment

Tagalog Version (Click Here)

Long ago when we used to visit our grandparents (before they passed away), I’d see a lot of our neighbors play mahjong, cards, and that colored dice game (some locals call it “casino”) on the streets. Those kinds of games are fun, but when there’s money involved, the thrill of the risks and potential rewards can make them very addictive. You win some and you lose some (you actually lose a lot more often), but the possibility of winning big keeps you coming back for more.

Unfortunately, it just makes you lose more money. We all know how a gambling addiction ruins people’s lives.

There’s a lot of psychology involved when it comes to gambling, and that’s why it so easy to lose more and more of your hard-earned cash to some slimy dealer at a casino, lottery ticket stand, “gacha” game, or some other similar gambling system, but for now, we’ll talk about one in particular. It’s called the “gambler’s fallacy”.

If you want to avoid losing more money in games of chance, investing, or on other kinds of financial decisions, this is one more lesson that you need to learn.

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Pagkaswerte at Kamalasan… At Paano Tumigil sa Pag-aalala

July 2, 2019 by Ray L. 3 Comments

English Version (Click Here)

Ang kamalasan ay hindi palaging kasunod ng pagkaswerte, at ang pagiging masuwerte sa sa isang bagay ay hindi direktang magdudulot ng kamalasan sa iba. Kung sinuwerte ka, hindi ka dapat magsayang ng oras pagaalala sa kung ano mang “darating” na masama. Mabuting magpasalamat na lang sa natanggap na biyaya, at magsaya!

Ang buhay ay parang isang “wheel of fortune”. Minsan nasa tuktok tayo ng mundo at napakasaya sa isang panahon, pero baka tayo ay dudurugin ng kamalasan sa kasunod na oras. Gayunpaman, magiging ganoon na ba parati ang tadhana? Ang malas ba ay palaging susunod sa kasiyahan?

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