How do you manage your family finances? Why not run it like a business? Here’s how: Establish your purpose Did you know that some wealthy families have family constitutions? Well, you don’t have to go that far. But it could do your family well if you set your purpose. Businesses exist for a purpose,...
Social entrepreneurs are hot these days. It’s not that they’re riding on a fad but society responds positively to entrepreneurs who meld profit, passion, and purpose. This resonates to many of us who are not content with just making money but want to find meaning to what we do as well. We can take...
I’ll be the first one to admit I’m no investment expert. But I know that when it comes to investing, the simpler it is, the better (well, we all know how those complex collateralized debt obligations in the U.S. turned out). I subscribe to the John Bogle (the guy who invented index funds and...
I have two young daughters. As personal finance advocates, my wife and I consciously find teachable moments to our kids for them to learn about money. We don’t always do it right but when we do, we know we are making an investment on their financial future. Here are 10 ways we teach them...
“Where should I invest?” The question on where to invest our hard-earned money is a popular one. But the problem for many people is not where to invest but how (not) to invest. So even before you start thinking about which stock, bond, mutual fund, or real estate project to invest in, consider these five...
Here’s a funny story: When Bob found out he was going to inherit a fortune when his sickly father died, he decided he needed a woman to enjoy it with. So one evening he went to a singles bar where he spotted the most beautiful woman he had ever seen. Her natural beauty took...
How do you split money duties in the first place? Well, there are three major roles to play as we’ve been practicing in our family: Role #1: Earning money Earning money for your family is a huge responsibility and puts a lot of pressure on you. We’ve seen single-income families who have managed to...
Everyone makes financial mistakes. I’ve had my fair share of boo-boos over the years. No, I don’t spend more than I earn. I pay off my credit cards in full. I don’t splurge on expensive things. I haven’t gotten myself fooled into a scam. I’ve never lost a lot of money in the stock...
I’m sure you have an Ondoy story to tell back in 2009. It’s embarrassing to admit that we made three mistakes that have cost us a lot: 1) our car was submerged in the flood due partly to our fault, 2) our comprehensive car insurance didn’t include an “Acts of God” or AOG clause,...
While generally men handle the earning and investing part while women manage the spending part, that’s not always the case. In fact, read this article that debunks the idea that men should do the investing while women should do the budgeting. However, we believe it’s not strictly a gender issue. Who does which depends on...
