Green or Red ?

Tell me... what is the color of your report card?

If it's green, great! You are on the right track
and just passed the first round. But don't be too
happy, you'll learn why...

For those who got a red. Don't be despair.
It's not the end of the day. In fact I am proud of you
for being honest with yourself. Not many people dare
to look at their numbers, and I must salute you.

As you can see, it's just a snapshot of your current
financial condition. There are so many factors that
cause it to look that way. And we need to change
that.

Previously, I was managing my money matters in my head,
and it gave me the illusion that I have money to buy
stuffs without thinking. With the "help" of the credit
cards, shopping can be heaven.

Soon enough, I found out that I was in trouble and
asked myself "What went wrong?". I really wanted to know
the answer.

I created the spreadsheet in MS Excel to put in all the
figures under ASSETS and LIABILITIES. Although I don't have
all the info I need, it did served as a good indicator
that allowed me to zoom into the problem quickly.

BAM! It's obvious that I have overspent. The numbers
never lie!

The first step in gaining control of your finances
is to set up a simple system to track your money.

You may already heard of the popular computer programs
such as Quicken or Microsoft Money. These programs have
the built-in budget tools that help in preparing
your financial reports easily.

However, the point is not in owning the software.
It's the discipline to execute the plan to capture all
income and expenses. You can even write them down
in paper if you want.

I want you to build on a strong foundation of proven
financial strength. If you can manage pennies in your
life, then you'll be ready to manage millions that will soon
be flowing into your life.

If you cannot control and save money, there won't be any
surplus to invest. I'm sure you already know that, but
the question is are you doing that?

You have the big picture, now is the time to have a detailed
budget. Yes, you must start today because you don't want to
lose the momentum that will lead you to financial success.

Just do something, no matter how small it is at
the beginning. Rome was not built in a day.
You'll be glad to make the first move.

We'll meet tomorrow to discuss what really is investing
and why do we invest?

Go for profit$!