Friday, October 17, 2008

Simplify and Live the Good Life

My BIL shared to me the book of Bo Sanchez

... and I would like to thank him for that!

I have finished reading it already.. I was inspired and awakened (as Eds mentioned)..

As described in this book, you will alter your priorities and start focusing on what is most essential to your happiness. You will transform the way you use money and you will raise the quality of your most intimate relationships to a higher level - because you'll discover that they are the source of your greatest joys.

Bo's principles are so practical that you can adopt it easily in one's life..

I want to share with you some of the book's insights on how to save your money creatively...

The moment you get your salary, give your tithes first (tithe is in the Old Testament law which means giving 10% of your income to the Lord). Second, give at least 10% of your income to your savings account. Third, give to your "irregular expense" account - these are expenses that don't come each month like tuition fees, car insurance, or repairs. Figure out what irregular expenses are in your life and know how much they cost in total each year. Divide this figure by 12 and that's what you set aside.

Other ways to save money are as follow:

1. Automatic Savings - arrange with your employer or your local bank to regularly set aside a certain amount of your monthly salary for your savings - before you ever see it!

2. Save your Raise - allot your raise to your savings and live within your old paycheck

3. Keep Paying Loans After the Loans Are Paid Off - keep sending the same amount not to the creditors but to your savings account!

4. Hold On to Unexpected Cash - Received a bonus? cash gift from your parents? Keep this in your savings account - not in your wallet - because all wallets have invisible holes and money kept in them has been known to vanish within 24 hours!

5. Give up Expensive Habits - compute your savings if you give up smoking, buying Lotto tickets or eating an extra sweet snack

6. Sell Assets - sell all the clutter in your home (stuff that you no longer use)

Am trying to adopt the above principles at present.. And it's not that easy huh..! Maybe, I'll just start in small amounts first until I master budgeting our family income.. I just hope i would be successful and patient in dealing with this..

I hope somehow you were enlightened by this and will try it as a way of life..

I will try to share other insights of the book in my succeeding posts.. Until then..

4 comments:

Eds said...

Thanks for sharing sis! I hope I can adopt this principles too. Good luck to both of us :)

Russell Earl Kelly, PHD said...

COMMENT: Bob Sanchez is wrong. He uses the Bible like a Ouija board and ignores the context.
……………..
The moment you get your salary, give your tithes first (tithe is in the Old Testament law which means giving 10% of your income to the Lord).

COMMENT: Biblical tithes are NEVER the same as FIRSTFRUITS. Compare Deuteronomy 26:1-4; Neh 10:35-38 and Numbers 18:7-19. Firstfruits were very small token offerings. Although money was common in Genesis and essential for worship it was never included in tithes. Tithes were only food from inside Israel off God's holy land.
………………..
I hope somehow you were enlightened by this and will try it as a way of life.

COMMENT: The other points were good.

Russell Earl Kelly, PHD
www.tithing-russkelly.com

SharQue said...

ok.. tnx for the info.. but i still believe in the idea of giving first what is due to God.. whether it is through goods or money.. good day!

BAM! said...

bought this book too. nice read :)

Simplify and Live the Good Life

My BIL shared to me the book of Bo Sanchez

... and I would like to thank him for that!

I have finished reading it already.. I was inspired and awakened (as Eds mentioned)..

As described in this book, you will alter your priorities and start focusing on what is most essential to your happiness. You will transform the way you use money and you will raise the quality of your most intimate relationships to a higher level - because you'll discover that they are the source of your greatest joys.

Bo's principles are so practical that you can adopt it easily in one's life..

I want to share with you some of the book's insights on how to save your money creatively...

The moment you get your salary, give your tithes first (tithe is in the Old Testament law which means giving 10% of your income to the Lord). Second, give at least 10% of your income to your savings account. Third, give to your "irregular expense" account - these are expenses that don't come each month like tuition fees, car insurance, or repairs. Figure out what irregular expenses are in your life and know how much they cost in total each year. Divide this figure by 12 and that's what you set aside.

Other ways to save money are as follow:

1. Automatic Savings - arrange with your employer or your local bank to regularly set aside a certain amount of your monthly salary for your savings - before you ever see it!

2. Save your Raise - allot your raise to your savings and live within your old paycheck

3. Keep Paying Loans After the Loans Are Paid Off - keep sending the same amount not to the creditors but to your savings account!

4. Hold On to Unexpected Cash - Received a bonus? cash gift from your parents? Keep this in your savings account - not in your wallet - because all wallets have invisible holes and money kept in them has been known to vanish within 24 hours!

5. Give up Expensive Habits - compute your savings if you give up smoking, buying Lotto tickets or eating an extra sweet snack

6. Sell Assets - sell all the clutter in your home (stuff that you no longer use)

Am trying to adopt the above principles at present.. And it's not that easy huh..! Maybe, I'll just start in small amounts first until I master budgeting our family income.. I just hope i would be successful and patient in dealing with this..

I hope somehow you were enlightened by this and will try it as a way of life..

I will try to share other insights of the book in my succeeding posts.. Until then..