Your Wealthy Mind

Because Ideas Change Lives

You’re not Lucky… and that’s a Good Thing

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Tagalog Version (Click Here)

“Diligence is the mother of good luck.” – Benjamin Franklin

You see lucky people everywhere. They have rich parents, they are good at sports, and they nearly always get good grades in school. Most of us, however, are just ordinary. We don’t have rich parents, we’re not very good at sports, and we barely pass our exams. For a lot more of us, it’s even worse as we’re often saddled with disadvantages and life often feels like an uphill climb.

You probably know what it’s like. You study hard for your exams and you barely pass that test. You work hard at your job and you still don’t get promoted. You try to improve your business yet sales don’t increase one bit. While you’re doing all that, other people seem to just glide through life. Some people just have all the luck, right?

You know, I wish luck will give me a billion-dollar business tomorrow. I also want to get lucky and become a world champion athlete as well. I mean, that how most people think luck works right? You wake up one day and you suddenly built a multinational corporation from thin air, you suddenly won the world title fight without ever leaving your couch, or you go from fast food worker to a real estate billionaire in a day because you got “lucky.”

Sadly, that doesn’t happen. So what can we do about it?

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Skills for a Better Livelihood: A Quick Glance at TESDA

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Tagalog Version (Click Here)

“Give a man a fish and he’ll eat for a day; teach a man how to fish and he’ll eat for a lifetime.”

One of the main reasons why YourWealthyMind.com was created is to help the needy by providing information that they might need. For the average poor Filipino or the low wage employee with a family to feed, life feels like a maze of hard work with little reward. Fortunately, the way out can be learned.

Before we begin, we have to learn one important fact: It’s not how hard we work that determines our pay but how much VALUE we give.

A street sweeper earns less than a software developer.

A rag peddler earns less than a real estate sales agent.

A cook that makes cheap stew earns less than a gourmet chef at a five-star restaurant.

The time and effort at work is similar, but the pay differences are immense.

What’s the key to it all? Useful KNOWLEDGE.

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What are Stocks and Why should you Invest in them?

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Tagalog Version (Click Here)

After controlling your expenses, paying back debts and saving money, the next step in your journey to financial freedom is to start investing! What’s one of the best and most common investment vehicles nowadays? Stocks! Now, if you haven’t had the time to study what stocks are and if you want to learn the basics, then we have a short guide for you right here!

 

What are Stocks?

Imagine you and nine of your friends want to start a business so you each equally contribute around P1,000 in cash, equipment, materials and more. In that business, you each decide to share the profits and ownership equally. In that scenario, it will be similar to the business having 10 shares of stock and each of you own one.

Stocks, which also called “shares” or “equities,” signify shares of ownership in a company. The Stock Market is the place where these shares are traded. If, for example, a certain company issues 10,000 shares of stock outstanding and you bought 100 shares, you become a stockholder and you own 1% of that company (100 is 1% of 10,000).

Like the example above, if you’re a stockholder you own part of the company’s assets AND you might also receive a part of the company’s profits in the form of Dividends. Some companies don’t give out dividends and simply reinvest earnings though, so in those cases you earn money when you sell them after the stock price goes up (capital appreciation) or when you perform a short sell. [Read more…]

Choosing the Best Stocks: 10 Investing Terms you HAVE to Learn

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Tagalog Version (Click Here)

Personal finance gurus all teach you to save a part of what you earn and invest it, but not a lot of them will teach you the specifics of fundamental analysis (analyzing the specifics of companies) and how you should choose specific stock investments aside from “buy shares of big companies.”

Warren Buffett said that “Risk comes from not knowing what you’re doing.” Before you invest in a stock, you need to learn what the company’s valuation numbers mean. You need to know what the numbers say about the company’s performance instead of gambling solely on what the stock price graphs say.

*Note: This is a basic guide and I’ll include links to the Investopedia articles if you want to know more about each one. The true importance of this guide is in its Tagalog translation as it’s intended to serve as a primer for Filipinos who want to learn a few things about choosing the best stocks.

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Are you Afraid of Success?

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Tagalog Version (Click Here)

Many of us dream of living in a big beautiful mansion, earning a lot of money, having lots of friends, and a loving family… but one main reason why we don’t achieve it is because many of us are subconsciously afraid of success.

To be more specific, many of us are afraid of what we need to do in order to become successful. We are afraid of giving up the comfortable things that we have now and we are afraid of trying new things in order to earn something better.

Whenever we think about the good life, doubts also cloud our mind and we can only think of the reasons why we CAN’T do it. The mansion, the riches, and the happy family all seem like an IMPOSSIBILITY for us and we think to ourselves “What if I fail in business? What if I invest and lose money? What if I don’t like that new job or I get fired? What if those people hate me? Why can’t I tell my family directly that I love them? What if I lose everything I have now?” Thus, we stay as we are, do what we’ve always done, and keep earning what we’ve always gotten.

Aside from all that, many want positive changes, but few want to MAKE those changes. Many want to be rich and successful, but few are actually willing to do the work required. Millions of people fail because they’re too scared to try.

What do you do? How do you resolve that fear? How do you earn the life you want?

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