BACANI, JOMAR V.

FM 1-1
BUSINESS FINANCE

𝗜𝗣𝗢𝗡 𝗠𝗘𝗧𝗛𝗢𝗗 𝗡𝗔 𝗠𝗔𝗚𝗣𝗔𝗣𝗔𝗬𝗔𝗠𝗔𝗡 𝗦𝗔𝗬𝗢 𝗡𝗚𝗔𝗬𝗢𝗡𝗚 2022.

1. We must exercise caution in our spending habits.

2. Our money that is not spent is money that is earned and saved.

3. Purchase a product at a low cost and resell it at a high cost. (buy and sell)

4. Starting a business is the best way to earn money in 2022.

5. We need to increase our income while decreasing our expenses.

6. Live to earn from multiple source of income.

7. Live a lifestyle of simplicity.

8. When you prioritize savings, you are saving for the future.

9. Develop the habit of saving, not borrowing.

10. Having one source of income is never enough, we need to generate income for the short-term,
medium-term and long-term.

𝗪𝗔𝗬𝗦 𝗧𝗢 𝗦𝗔𝗩𝗘 𝗠𝗢𝗡𝗘𝗬 𝗙𝗢𝗥 𝗟𝗢𝗪 𝗜𝗡𝗖𝗢𝗠𝗘 𝗘𝗔𝗥𝗡𝗘𝗥𝗦

1. Reduce your housing costs if you are only renting.

2. We need to avoid debt and pay off debt.

3. Debt is something that prevents us from achieving our financial objectives in life.

4. We need to learn how to budget properly.

5. Let us resist temptation.

6.We need to be careful in our expenses in food.

7.Transfer our income to a savings account.

8. Change our lifestyle, dont buy luxurious items when not needed.

9.Sell things you no longer need and buy second-hand when possible.

10. Determine how much you should be saving each month. Divide the large annual payments by 12 to
get the average amount you should be saving per month.
10 𝗛𝗔𝗕𝗕𝗜𝗧𝗦 𝗪𝗘 𝗦𝗛𝗢𝗨𝗟𝗗 𝗔𝗩𝗢𝗜𝗗 𝗧𝗢 𝗛𝗔𝗩𝗘 𝗔 𝗕𝗘𝗧𝗧𝗘𝗥 𝗟𝗜𝗙𝗘.

1. Being unclear of our financial goal.

2. If someone is living beyond their means, they are spending more money that they can afford.

3. Ignoring our debts.

4. The mindset we have created in which you believe it's too early to save.

5. Absence of value of system.

6. Our poor budgeting habbit.

7. Making your money work for you entails taking control of your finances and then using that control to
improve your financial stability and security over time.

8. We are making space for negativity.

9. We give up easily, if we encounter difficulties.

10. We need to have a higher goal of success and should not limit our vision to material worth, which I
believe can lead to underestimating one's own worth in many cases.

10 𝗪𝗢𝗥𝗦𝗧 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗗𝗘𝗖𝗜𝗦𝗜𝗢𝗡𝗦 𝗪𝗘 𝗦𝗛𝗢𝗨𝗟𝗗 𝗔𝗩𝗢𝗜𝗗

1. We are overspending or borrowing money to maintain a lifestyle you cannot really afford.

2. Allowing debt to pile up that may impact our mental and physical health over time.

3. We are too excited to invest. (over investing)

4. Not getting protected your money.

5. Not saving enough during good times.

6. You are overly generous.

7. Being a co-maker with your friends, relatives or love ones.

8. Not leaving enough for your retirement.

9. Spending of your retirement fund.

10. You're investing in a scam.