Your Wealthy Mind

5 Great Tips on Handling Criticism

March 13, 2017 by Ray Leave a Comment

Tagalog Version (Click Here)

Criticism is something you can avoid easily—by saying nothing, doing nothing, and being nothing. — Aristotle

Last week I wrote about how someone criticized my answer to “What one sentence can change the world if every human being would live by it?” because they don’t like the fact that people like me can make money from blogging or writing guides. While I could have argued with him on the internet, that would have simply been counterproductive. Thankfully though, I was able to gain a seed of inspiration from him. You can try that too when somebody criticizes you. Instead of reacting negatively to criticism, why not attempt to gain something from it?

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Should You Make Money Teaching?

March 6, 2017 by Ray Leave a Comment

*This article contains affiliate links.

Tagalog Version (Click Here)

“If you think education is expensive, try ignorance.” — Robert Orben

Someone in Quora asked “What one sentence can change the world if every human being would live by it?”, and I answered:

“I have one major life philosophy and I’ve built my website around this central premise:

‘You can achieve nearly anything in life if you learned how!’

Want to get promoted and advance your career? Learn better leadership and management skills.

Want to improve your business? Learn better product development, marketing skills, “growth hacking,” etc.

Want to earn more through stocks and investing? Learn how to choose great companies, how to invest for the long term, when to trade, etc.

If there’s anything you want to become successful at, chances are, there are people who’ve become successful at it already. Learn from them! Study their winning strategies AND their mistakes which you should avoid… then apply the lessons you learned in your OWN life.”

Oddly enough, somebody didn’t like that. They *countered that there are way too many “opportunists selling false hope” and that poverty is hopeless. I understand his point. There are many spammers out there with recycled and plagiarized content and many “investment advisors” scamming people out of their money, but I DON’T agree with his point that poverty is hopeless. After all, there are people who write books and guides on how to improve crop yield to help poor farmers, recipe books for starting small food businesses (I found several in our local bookstores), guides and financial assistance for micro-businesses (Muhammad Yunus’ projects) and more.

Teaching people ways to earn money and escape poverty is MUCH better than telling them “you’re poor so it’s hopeless and all you can do is just suffer and die.”

Then the REAL reason why that person criticized me appeared on his next comment: [Read more…]

10 Success and Frugal Living Tips I Learned Growing Up

February 28, 2017 by Ray Leave a Comment

Tagalog Version (Click Here)

Our parents, friends, and our early experiences are our first teachers on how we handle money, and what we learned during childhood tends to stick to us as we grow up. That doesn’t mean that we can’t change for the better though. I was lucky enough to learn some excellent financial success and frugal living tips when I was a kid, and I’ll share my top 10 tips with you here.

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7 Ways You can Raise a Financially Responsible Child

February 24, 2017 by Guest Leave a Comment

*Contributed by Amy Nickson.

One day, your little child will face the big world all alone. As a parent, it’s your responsibility to inculcate good money lessons in them. Teach your children as to how they should manage their money and why money management is important.

How can you help your kids to become financially responsible? It is easy: Have a look:

1. Help them find a job

Children need to know that money is not easy to come by. Discuss with them why they need to work. This way they will understand the value of money and where the money comes from.

How can kids make money? Kids can make money by babysitting, starting a lemonade stand, car washing etc. But, these involve more direct money. So, the best ways in which your kids can make some money are by helping you out with your household chores. You can ask your kids to help you in cleaning the house, cooking and washing. In return, you can pay some money to your kid.

If your child loves pets, you can also allow your kids to do pet sitting or they can also become a dog walker. This is a great job for earning a little money.

2. Give them a piggy bank

You must encourage your child to save money. Tell them the importance of saving money . Gift them a piggy bank and tell them to save whatever possible.

3. Discuss financial goals with kids

Explain to your teens why it is important to set financial goals. Help them work out how much money they need to put away for achieving their goals. You can also discuss with your young adults regarding their short-term and long-term financial goals. Discuss with your children how much allowance they should spend each week and how much they must put towards short and long savings. Ask them to save money for charity as well. [Read more…]

The Most Valuable Ingredient of Success (that People Ignore)

February 21, 2017 by Ray Leave a Comment

Tagalog Version (Click Here)

While walking around the Philippine Military Academy (P.M.A.) in Baguio City, I saw a plaque containing some very familiar words that I first read during high school C.A.T. (Citizen Army Training).

“We, the cadets, do not lie, cheat, steal, nor tolerate among us those who do so.” — Cadet Honor Code

That’s something we can and SHOULD all live by and it’s simply unfortunate that certain people don’t. Some people got elected into office by giving false promises and lying to millions of people. Some people obtained a lot of money selling cheap products and cheating customers. Some people also received ill-gotten wealth through crime and corruption.

While there certainly are people who became “rich and successful” through illegitimate means, you must NEVER make the mistake of thinking that it’s the only way to become successful. That wrong belief will either keep you in poverty, or it will encourage you to commit crime in order to “get ahead.” You won’t want the results of either of those. Always remember that integrity is an absolute necessity to become truly successful.

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