Time check: 2:09 AM
It has been a long day of household chores, taking care of kids, training and exchanging messages with colleagues that I just had the time now to watch the replay of last Saturday's webinar by Brother Bo Sanchez and Mr. Edward Lee on the topic mentioned above.
Short storytelling. For the past years since the pandemic and zoom meetings became a thing, it has become my habit to take screenshots instead of writing down notes. It's easier and more convenient. But the problem with this is that the photos become part of my gallery's dump, and eventually forgotten.
And so I realized that I have to go back to writing. And because this blog is my digital journal, this is also my way of sharing these valuable lessons with you.
Happy Learning!
Talk 1. THREE ELEMENTS OF A FINANCIAL BREAKTHROUGH
1. Change your story.
- Inner force: the need for consistency
- We have the desire to be consistent with our story, regardless if this story is true or not
- We are all prophetic storytellers. Your words are self-fulfilling prophecies, and so we have to be careful with the stories we say.
Examples:
a. Old Story: "I will always be poor."
New Story to tell yourself: "I'm already rich."
b. Old Story: "I'm poor because of my (dad, boss, friend, wife, family, past...)"
New Story: "I'm taking full responsibility for my financial future and it will be prosperous.
c. Old Story: "The stock market is too complicated for me."
New Story: "I'm a stock market investor."
d. Old Story: "I'm not good with money."
New Story: "I'm very good with money."
2. Change your standards.
- Aspiration versus Acceptable
- Your level of aspiration is strong, but your level of acceptance is 10x more powerful
- At a certain point, you will say, "okay na." (I have personally experienced this, and so I can relate.)
- What you should do is look at the people around you. Think bigger. Madami pang pwedeng tulungan. Find a way to increase your level of acceptability.
3. Change your system.
Design your life to reach your standard or level of acceptance. How?
a. Change your people. As Jim Rohn said, "You are the average of the five people you spend the most time with." We can also say that, "Your income will be the average of the income of the five people you spend the most time with."
Start hanging out with people who are great with money, and see your income grow little by little.
b. Change your media. You are more influenced by your world more than you think.
Reject mental garbage.
When you value yourself, you will value your time, and you will value what you feed your mind.
Win your morning to win your day!
Talk 2. HOW TO HAVE THE BREAKTHROUGH INCOME
- Repetition is the mother of all skills.
- Out of 30 Billionaires in the Philippines, 22 are Chinese.
- "In the Philippines, the 1% Chinese control as much as 60% of the private economy." - Amy Chua, written on her book World on Fire
What do they have that others do not have?
- High Financial IQ. Have a positive attitude towards money.
- Entrepreneurial Mindset.
- In your job, your most important income is not your salary, but your skill and your network?
- People often ask, "Ano'ng magandang negosyo ngayon?" As if there is a general answer to it. Remember the time when pandesal became the "in" business? Or when milk tea were? Or shawarma? Etc.?
- The answer to this question is within you. You have to ask yourself, what is your gift? What is your anointing? What is your skill? Focus and that and use that.
- Start a side-business based on your skill.
- Psalms 22:29 says, "Do you see a man skilled in his work? He will serve before Kings; he will not serve before obscure men."
- Your business should be based on your skill, your gifting and your network.
- Spiritual people can be prosperous people, because spiritual people love to serve. Let service be the core of your business (I love this part!) and then scale up.
- The only path to real prosperity is through excellent service.
Two Kinds of Income:
- Active Income: You exchange your time for money
- Passive Income: You exchange your money for more money
Talk 3. HOW TO HAVE BREAKTHROUGH INCOME
Four Stages of Investing:
- Unconscious incompetence (Ignorance)
- Conscious incompetence (Awareness)
- Conscious Competence (Learning)
- Unconscious Competence (Mastery)
When 25 years old today reach 60,
Only 1% will be wealthy.
Only 4% will be financially independent.
5% will need to work.
27% will be dead.
63% will be BROKE!
Why?
Because there is a lack of understanding of the Three Basic Laws of Money:
Rule #1 : Save 10% to 20% of your income.
Rule #2 : Invest it.
Rule #3 : Reinvest to benefit from the power of compounding.
There are Two Kinds of Failure
1. Action without thinking.
2. Thinking without action.
Thank you for reading until the end! I pray that you experience many financial breakthroughs this 2023 for yourself, your family, your friends and loved ones, and for your ministry. May God bless the work of our hands and be a channel of His blessings! Amen.
Be very blessed!
