FINANCIAL PLANNING and GOAL SETTING WORKSHOP at the WEALTH ACADEMY

Series 2 of the training series at the Wealth Academy is the "Financial Planning and Goal Setting Workshop." I was finally able to attend it yesterday at the IMG office in Chino Roces Ave. in Makati.

This training series focuses on having a financial "check up."  First, the speaker will guide you in assessing your assets and liabilities to find your net worth.  After that, you will also evaluate your monthly expenses against your monthly income to come up with your cash flow value.  If you have a positive net worth and positive cash flow, then hats off to you! You're doing great! However, still try to find ways to make sure that you will be able to continue managing your finances and not overspending.  Make sure you know how to make that last all throughout your retirement.  If you do not have yet a retirement fund, start researching about how much money you need for this and how to go about setting it up.

If you have a negative net worth and positive cash flow, it means you lack investments and you have not prepared for the long term.  It's not too late, though! Since you have a positive cash flow, it means you have some money to put into investments.  Look for ways on how you can start investing and minimize risks by increasing your financial IQ.  However, be careful when investing because it is very important to have a solid financial foundation.

If you have a positive net worth but negative cash flow, it goes to show that you are living withing your means.  You need to reevaluate your spending habits because sooner or later, you will be needing to tap into your assets just to provide for your monthly needs. And if this continues on, there is a possibility of ending up with a negative net worth as well.  Also, find some ways of increasing your cash flow by getting another source of income.  You can get freelance jobs or better yet, start your own business.

However, if you have negative net worth as well as a negative cash flow, then it's high time you make some drastic changes.  The first thing you have to do is to cur down on your expenses.  Analyze how you spend your income and from there, learn to prioritize. It will also be a good idea to look for additional means of income to increase your cash flow and avoid debt.

These things can definitely be challenging.  But if we increase our financial IQ and study about financial planning and management, we can get on track sooner and more efficiently.

The training and seminars at the Wealth Academy can address all these concerns by educating people about the importance of financial literacy, as well as providing platforms to apply what you have learned.

If you want to know more about the Wealth Academy, you can check these links:

Increase your financial IQ at the Wealth Academy! 

INVITATION FOR "PRACTICAL MONEY MANAGEMENT AND INVESTMENT STRATEGIES" TRAINING.

FREE FINANCIAL LITERACY TRAINING

Here in the Philippines, financial literacy is definitely not a priority of the common Filipino.  It is not in our culture to think about the future.  We are used to taking each day as it is.  While some cultures say that having this "positive" outlook is one of our strengths, we fail to realize one important thing: we are not prepared for the challenges of retirement.

We are so scared to think about retirement like you are willing bad things to happen. We don't want to talk about insurance or healthcare or investments. Usually we think all these are a waste of time and money.  Besides, we are earning well now anyway. But what we don't realize is that high income does not equate to wealth.  Having a high income is not a guarantee that all our financial needs will be met.  A question we should ask ourselves is that, "If I lose my job today, how long can I live without having to look for a source of income?"

There are two scenarios in life that we don't really think about but is actually disturbing: dying too soon and living too long. Why?

If I die too soon, who is going to take care of my family?  Can they survive?
If I live too long, who is going to take care of me?  Can I survive?

If our answer is doubtful, then we can do something about it to make it crystal clear.  We can educate ourselves to secure our future and our family's future.  There are a lot of programs around that can help us analyze our financial goals and give us a solid plan to achieve them.

The Wealth Academy of the International Marketing Group is one of those programs. Their aim is to educate people about financial literacy and them build a solid financial plan.  They hold a series of training and seminars that tackle different topics about financial management.  By educating ourselves, we can be our own financial experts.

If you want to be your own financial expert and secure your future, you can register for one of the training sessions here:

IMG WEALTH ACADEMY PRACTICAL MONEY MANAGEMENT and INVESTMENT STRATEGIES TRAINING.