Who is Era Fey?

Era Fey is your blogger extraordinaire who dreams to make this blog awesome for awesome people!

Figurines Come to Life

Prepare to be stunned by the gorgeous photographs of your favorite figurines in everyday moment!

One Piece Reviews

For all the One Piece fans in the world, join Era Fey on an amazing adventure at New World and pretend to be pirates! Hurr! Hurr!

Era Fey Experiences

Check out Era Fey Experiences to find new things to try out! You may discover a new passion!

Guru's Recommendations

Run out of interesting manga to read? Era Fey recommends you a new manga or anime figure! She is a guru.

Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts

12 November 2013

Do You Know How to Save up Your Money?

I have always enjoyed keeping track of my finance to the dot. I started this habit when I earned my first paycheck during my first part time job. It's simple and organized. It's never too late to keep track of your earnings and spending. The earlier you start, the better off you will be. Book keeping can be surprisingly simple and efficient.

For Job: 
Create an Excel name: [Job] Salary

In there, you are going to create on the horizontal columns the following: 
  1. The date your paycheck starts
  2. The date your paycheck ends
  3. Payment Date
  4. Rate/Hour (if you are minimum/fixed wage, just drag down the tab)
  5. Hours worked
  6. [4 * 5] 
  7. Vacation pay rate
  8. Vacation pay (it's written on your pay)
  9. Gross income = [6 + 8]
  10. Tax with (simpler when you are doing your income tax next year)
  11. Total deductions (if you pay provincial and federal tax, sum them up)
  12. Net pay = [9 - 11]
Click to enlarge
Trust me. You just have to do this once and you can copy paste this for your next job.

Then of course, you should allocate yourself about 10-20% of your salary to PLAY.
By that, I mean to truly relax yourself. You work hard. You deserve some rest. It doesn't include food, necessity. It's an amount just for you to be happy doing things you like. It could be like treating yourself to spa, go to amusement part, buy fashionable wears...etc.

Create another separate column called "Amount allocated for PLAY (10%) per paycheck.
= 12 * 10%
That is the amount you can spend only. 
If you want, at the bottom of this column, you can put the sum of the amount you spend on PLAY.

You can also dedicate another column for travelling. I allocate another 10% of my paycheck to save up for my future travelling expenses. You can allocate more but 30% should be the max. Don't forget you still have a 10% of "Play". And you still need to save up for future expenses. 


This is my simple trick to be financially organized when it comes to SALARY SAVING. 
I have other methods of keeping track of my money which I will post them in other posts. The earlier you start being financially organized, the better. You won't feel so overwhelmed when you wonder why you are always poor or why your salary is not consistent. So I hope this post will help you! Let me know of your own book keeping habit. 

Don't miss out on next update by subscribing!

Follow us on Facebook: LIKE (It auto updates new post :))
Find out more Do You Know: Click Here!
Click on the Join This Site/Blog on the right sidebar (scroll up)!

Definitely leave your comments below. I want to know what do you guys think about this!

3 September 2012

Do You Know How to Think Rich?

I read this excellent book called Secrets of Millionaire Mind by T. Harv Eker. While he tells you some basic concepts, the book still manages to blow my mind.
Here are some interesting facts he wrote:

Rich people chose to get paid based on results.
Poor people chose to get paid based on time.

It's super true. If you think about it, poor students (including me) are paid minimum wage. We know we are not experienced so when our boss offered fixed hourly wage, we are happy to grab it. A job is a job, we tend to say. The truth is that we feel secure by the term "fixed". It's safe. Who cares how the business is going or how hard I am working, I get paid a fixed amount anyway. That can be pretty detrimental to both employers and employees. As employee, you are not motivated. If you are a student and you want to break away from this cycle, go be a waiter/waitress. You get tips! What are tips? Tips are money based on your results! Not time! Woohoo! That's right! Your tips reflects how hard you work. You feel super happy when you get big tips right? So work harder! That's the spirit.
When you are an entrepreneur, your income is based on your results. If you suck at running your business, you get nothing. If you succeed, bye bye poor life and hellooooo sweet big Lamborghini!
However, if you are scared of taking risk (not confident in your own performance) then you work on fixed salary. There, safety!

"Rich people believe in themselves. They believe in their value and in their ability to deliver it. Poor people don't. That's why they need "guarantees"." ~Eker

Rich people have their money work hard for them.
Poor people work hard for their money.

It's cool that you want to work hard to earn money but you got to work smart too! Take an example of a writer John. John works super hard, crashing his brain to think of a purple cow that can appeal to his targeted audience. He wrote like chicken without head to reach the deadline...etc. Yeah, John worked endlessly hard. How will he be rich if he just writes boring story? No. He can be rich when his books spread like wild fire because of his eccentric ideas/plot/characters. That's when our John can sit back and relax. He had worked hard for this. So he is going to let the money(in this case, his bestselling book) works for him. With the money he gained from royalty, he can spend it on advertisement for example. Then the ads will bring in more clients, which will generate him more revenues...etc.
John doesn't need to work hard anymore. He had worked hard and smart so now his money works for him. And he is now filthy rich.

"You do have to work hard for your money. For rich people, however, this is a temporary situation. For poor people, it's permanent. Rich people understand that "you" work hard until "money" works hard enough to take your place." ~ Eker

Pretty neat, isn't it? I absolutely love his book. I read it before I hit university and it supposed that book changes my view of the world. I'm always seeking ways to improve my thinking. I want to be rich. Who wouldn't want to be rich? The question is how to be rich! It's easy to just blurt it out but you need action to get to your goal. You can't win a race if you bum around the starting line. You need to man up and start training like mad then go to the race and run like a horde of hellhounds are chasing after you. Then you can't just run and run (working hard) you have to find ways to outrun/hide from them (working smart) that's when you will eventually reach the finish line and shout to the world: "I HAVE SUCCEEDED!"

Wouldn't you like that? I would. So if you want me to talk more on this particular topic, comment below to let me know... otherwise I will be talking about something else next week. Or you can buy the book. Good luck in becoming rich! Remember. Think like a rich man. Work hard AND smart.


Don't forget to follow us on Facebook: LIKE
More Do You Know: Click Here!

 
F