Who Wants to Be a Millionaire? Being a Millionaire is my long dream and my personal goal and challenge.
I chanced upon getting a copy of My Ipon Diary last August 2019.
I bought it for 150 pesos at National Bookstore. If you are not a heavy reader but wanting to start on saving money for your future this book is for you. What I want in this book is it's very easy to read and understand. To start with it is a small book with thin 110 pages and 15 mini-chapters. The narrative is mainly in Tagalog and the Author, Chinkee Tan will never bore you with his comedic lines. If you are not familiar with Chinkee Tan, he is a former hawi boys of Randy Santiago turned comedic movie star turned Wealth Coach. His book is a personal diary of your personal ipon goals, spending, and savings. It will teach you to improve on your financial ideals to equipped you on becoming an iponaryo and ultimately a Millionaire.
This book is very dynamic and engaging because at the end of every chapter you are asked of " MY IPON REALIZATION" and has a built-in "MY TIPID MONITORING CHART" and "MY IPON MONITORING CHART" this tools I personally use on monitoring and tracking my savings and spending. It will guide you to make a SMART plan on how to really save with a definite timeline and a clear purpose and goal.
It teaches the proper financial mindset and attitude, how to save successfully, become financially disciplined, become financially responsible and become financially secure. I like the approach and tone of Chinkee Tan he is very frank, funny and brutal at the same time like when this book will make you realize " Bakit mas madaling mag ipon ng taba kaysa pera?" In this chapter, Chinkee Tan reveals the 3 Main Reasons why people fail to save successfully.
One of my favorite chapters in this book is Chapter 6 " Paano Makakatipid ng PHP 100,000.00 at Maging isang "petmalu" iponaryo discusses the importance of spending less, spending consciously and spending only what you need and minimize want spending. Mr. Chinkee Tan shares the secret of wealthy Tsinoy mentality "Una paraan ay hindi dapat dagdag kita dapat bawas gastos! Kahit laki kita pero laki gastos, wala tira! " In the pure text, it is very simple but very hard to follow. If you are a regular person and been brought up without any knowledge of financial responsibility and financial discipline and you were never taught in school or at your home the importance of savings and spending consciously you will become an average income earner without savings or sadly poorer from debts of credit cards and loans. He reasons out that you should monitor and think about how you spend your money. And calculates your savings if you let go of this want spending. For instance, did you know that you can save PHP 48,000.00 a year if you let go of Eating out with your Family Members? Assuming that you regularly eat out weekly with spending of PHP 1,000.00 you can save 48,000.00 a year. If you cannot let go of this family bonding Chinkee Tan recommends cutting it to twice to a month activity this way you can save PHP 24,000.00 yearly. I am personally doing this on my own ipon journey. I had let go of unnecessary expenses and decided to level up my savings. I had let go of the expensive grab and taxi ride going to the office and been recently converted into a full-time public commuter. By doing this I am saving a lot of money and obliged to walk and climb overpass and have my daily dose of morning exercise. This made my ipon journey more purposeful because this made me healthier. I now eat less and commutes every morning. I am becoming healthier and slowly reaching my ipon goals. I had listed down all my monthly expenses and found out that I can really let go of unnecessary expenses and get a boost on my savings if I let go of my unplanned family travels, expensive grab/taxi ride going to the office, unplanned going to the malls and eating out. Today I am more confident that I will be a successful iponaryo and my dream of becoming a Millionaire will materialize.
The main challenge of this book is to overcome and succeed in your own 52-week challenge.
This is saving a specific amount of money every week for 52 weeks. Here is an example:
1. 100 Pesos (PHP 100x52 weeks =PHP 5,200.00 savings)
2. 500 Pesos (PHP 500x52 weeks= PHP26,000.00 savings)
3. 1000Pesos(PHP1000x52 weeks=PHP 52,000.00 savings)
Personally weekly savings are not for me, I am more convenient on saving my money after I received my salary from work so I tweaked it on my personal comfort. I save twice a month with a clear purpose of my daughter's tuition fee, emergency fund, home renovation, capital for business and 7th birthday celebration/travel. I am doing this for 8 weeks now straight and once the money is saved in the bank I do not touch it- the money stays in the bank until the specific purpose materialize meaning my savings for my daughter's 7th birthday will be cashed out on the year 2022. So far I am happy with my capacity to endure and be disciplined to stay focus on my 52-week challenge. I am not new on savings I am a believer in savings at a young age. Thanks to my father who is a very practical man and knows the importance of savings. He taught me this valuable lesson early on. But I somehow lose my way trapped in consumerism and luxury of comfort and lovely material things but now I am getting back on track. And thanks to Chinkee Tan's My Ipon Diary I know I will succeed my own financial goals.
Overall I highly recommend this book to everyone. It will teach you to have a simple life and to never impress other people by having a new bag or new clothes. It advises you to stop "katakawan" and will reward you ultimately of a richer pocket and a healthier body. It will guide you to have the best chance of succeeding on your wealth transformation by defining a goal and purpose of your personal savings. It brings out the best in you by becoming stronger mentally and emotionally disciplined and financially wiser.
Commenti