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Hello there!

How committed are you to changing your life for the better and learning about managing money well?

If you are as serious as we are to take control of our life to be able to live comfortably and retire young and rich, then head over to our Facebook Fan page and like us!

From here on, we will bring you free, sensible and regular tips that will improve your understanding of how money works. Don't be intimidated by money. Like some of you, we too avoided talking about money like it was a plague.We were so uncomfortable talking about it and it was only when we badly needed money that we realized WE HAVE TO TALK ABOUT MONEY in order to understand how it works and learn from those who have mastered money management!

This is where I come in. Coming from a humble background, I have worked my way up the corporate and financial ladder. I listened eagerly to people I admire, people I consider my money mentors. I listen and wrote down what they said and applied them to my life. While yes, it wasn't easy but I guarantee you that it works! And with lots of motivation and a little discipline, you too can crawl out of the money problem hole and have as much money as you wish.


If you've noticed, we changed the website's name too -- from There's Cash Online to Double Your Peso, Pinoy! The change in name makes sense since the new title zeroes in on what I would like you to do, to double the worth of your money and make it work for you. I've gone from featuring real and bogus PTC sites to sharing the financial know-how that was passed on to me, and I am happy to do this because this is my way of paying it forward, of showing gratitude to my selfless mentors who also wanted me to succeed.

Cash flow, money management, saving and investment tips: I will break down all these intimidating concepts into bite-size lessons that will hopefully make sense to you. So keep on visiting Double Your Peso, Pinoy! (formerly There's Cash Online and Learn to Earn Online) for money handling tips and info! :)



Eager to help you make your first million,
Baneneng

Go and LIKE our new Double Your Peso Pinoy fan page today! :)



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Part 3.2: The basic concepts of money management - the secret principle to becoming wealthy

Now that you know what cash, assets and liabilities are, allow me to differentiate the roles of these in terms of building wealth.

Notice that I used here the phrase "building wealth" and not "becoming rich". You might be asking, isn't being rich simply having more than enough money? Is there are difference between the two? You bet there is!

Becoming rich, for me, is simply the state of having a lot of money. You feel rich because you have in your possession loads of moolah but only today. What happens tomorrow or next year then, when prices of commodities begin to rise? The value of the money you have today will be worth less in the future, so you won't be rich or as rich as you are now.

Also, I know a lot of people who are rich. They earn Php100,000 or more every month but they also spend P100,000 or more every month! So before the next payday, they are left with nothing. Worse even are people I know who spend more than what they earn; they spend their cash and use their credit cards to buy things that they don't need and already own such as phones, laptops and other gadgets. This leaves them with an empty wallet and a mounting credit card bill that slashes their money's worth. It's sad but true. I am certain you know people like this.

So now, do you think being rich is simply having a lot of money? I hope you see my point that it isn't. Our goal here is not to become rich, but to become wealthy and live an abundant life.

Going back to the previous post, the basic concepts of money management - cash, assets and liabilities, among the three, what do you think you think in order to build wealth?

But before that, let's clarify this -- what does it mean to build one's wealth? Building wealth simply means having enough money or resources that works for you. This is the secret that your boss or your client refuses to tell you. because if you know and understand this secret principle well like they do, then you won't have to work for them again! You will be like the millions of Filipinos trying to eek out an honest living, working hard for a salary.

If you are like most Filipinos and citizens of the world who start as employees, then you have experienced working hard to get the money. You spend days at the office doing something you do not like just to bring home a pay which may not be even enough to cover your monthly expenses and occasional luxuries. Never mind the pay is low, because you keep reporting to work anyway, because you are thinking, too little money is better than nothing.

But did you know that instead of slaving hours away to earn money, your money can actually work for you? Your money, if used properly, can compound. This is great news, don't you think? And this is the truth! You don't need to trade your precious time for money. If you understand this concept well, you will never be someone else's underpaid and under-appreciated (ouch!) work slave. I know this well, because I've been there too.

How can you make your money work for you? This relies on your intimate understanding of the three concepts discussed in the previous post, the basic concepts of money management - cash, assets and liabilities. Among the three, what do you think you need in order to build wealth? You need two, cash and assets, to build your wealth. You just have to DO IT PROPERLY.

How do I do this then, you ask. Let me discuss this further in my next post. I am excited to share how you can do this! :)

Money Management Lessons by baneneng@gmail.com


NOTE: THIS WORK IS COPYRIGHTED! This is an original work by Baneneng, 2011. All works of intellectual creation are protected by international copyright law, based simply upon their creation, without any formal requirements. Please give due credit when using this text for your research, paper or article. You are NOT to copy, reproduce or republish this without prior and explicit consent from me. Go here to understand what Intellectual Property Rights are.

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Part 3.1: The basic concepts of money management - cash, assets and liabilities

To begin understanding how money works and how it increases or decreases in value, we first need to understand the basic concepts, the things that decrease or increase in value.

We can classify all of our properties into three things:

1. First there is cash. Cash is what almost everyone wants. Cash is money, the bills and coins that we use to buy food at the grocery, to pay for our gas or fare. Centuries ago, people traded objects with objects. If a fisherman wanted to buy salt, he will exchange part of his catch to pay for the salt. Now, we use cash, the standard, universal object with value (as printed on the bill like $10, 20, etc.) to pay for the things we need.

People want more cash because lots of cash makes one rich. Or so we think. Hold that question, let me explain this later.

2. There are also assets. Simply put, assets are properties that earn money for you. There are different types of assets; there are tangible assets such as a house,a  building and businesses, then there are intangible assets (or paper assets) such as stocks, treasury bills and mutual funds. As the word suggests, we would like to have assets because these add value to our wealth. I'll expound on this on my next post.

3. Then there are liabilities. Liabilities are exactly what the name implies, they are a burden because simply put, liabilities are expenses. They make us lose our money or current value of our money. For instance, if you spend $30,000 or Php1,200,000 peso for a brand new car, in a three years, your money will decrease its value to P400,000 because that will be your car's worth after three years. So your money decreased. Liabilities work this work way, that is why we would like to get rid of liabilities in order to become truly wealthy.

Now, let's delve in deeper in the discussion:  How do these differ in value? Which of the three would I want to become rich? I'll tell you more in my next post so stay tuned.


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Part 2: Why do we need to manage money?

Why is money important?

Apart from time, money is an essential resource that we will need for as long as we live. With money, we can buy the essentials and luxuries in life. We need money to pay for food, clothing, shelter and service. And without it, we couldn't get food.

Money is not everything

Some say that money isn't everything, and I agree. Money indeed isn't everything. There's more to life than just having money, but we must have money too to have options in life. For example, wouldn't you prefer to live in a comfortable home with its own garage, garden, toilet and bathroom, rather than live in a small space with shared toilet and bathroom? I would! If given a choice, wouldn't you want to send your children to the best school? Of course, you would! If unfortunately they became sick, wouldn't you want to send them to a private hospital with the best medical equipment and doctors, where they could get the best possible care? I'm sure you would too!

Money is not equivalent to happiness

Money too can't buy happiness -- I've met people who have millions in their bank account but every day they feel miserable because after working so hard for years to get that money, at the end of the day they do not have a family or someone special with whom they could share their achievement.

... Yet money is important

Like I said, money isn't everything but we need money to live comfortably and to have choices in life. The amount of money in our bank account will dictate our quality of life, and all of us always want the best out of life. It's only natural, because as we grow, we constantly want for better things. This is rooted to natural impulse of living. Like a seed growing to a plant, every day we must grow more and become more. Because, as the old adage goes, any person who stops growing is dead.

Having money helps us to grow and become And for us to grow, we require things to use. Do you want to become a
better piano player? Then read books or enroll in a piano lesson. Do you want to write better? Then rent or buy books so you can read more and improve your language skills. Do you want your kids to reach their maximum potential? Then let them try a lot of things so you would know where they are best at, may it be sports, music, art or anything! For all these things, we need money so that we can avail of the things that we need to improve.

Money is not evil

With these said, I hope you grasp the importance of money. Religion may teach you otherwise, but if you believe in a god, believe that the god wants what is best for you. And to attain your highest level of growth, god wants you to have a comfortable life. I don't believe that the god would like you to suffer. No one in their reasonable mind would wish this for you, because wishing such for you is tantamount to hoping that you would never grow, that you will retain whatever you have while the rest of the world goes on to become more and achieve more.

If it were true that god doesn't want you to have money for your sustenance and growth, it is directly opposite to what God has said through the parable of talents. You were given a life and talents, and if you choose not to harness them, they will be taken away from you. Money then, is important for us to have to help us in our path for growth. That is unquestionable.


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Next: Read about Part 3.1: The basic concepts of money management - cash assets liabilities.

Watch out for it!

How good are you at managing your own money?

While many of us are are dying to have lots of cash at hand, have you asked yourself what would you do once that time comes?

I ask this because financial experts found out that the problem with money starts and ends with -- no, not how much you earn -- but how you manage your money.

Manage money? Is that even necessary?

Yes, it is. Like everything else in life, money needs to be managed well. Are you handling your finances well? Below I wrote several questions for an initial checklist so that you know if you manage your money well or not, or if you are somewhere in between.

1. You have been working for years and you have had salary increase in the past. You were also promoted in your job before. But no matter how much you earn, you are almost always out of money before the next pay day comes. Yes or no?
2. You earn enough. But whenever you get extra money like a salary bonus, something always comes up like your partner's debt, or a school requirement of a family or a friend. To make a long story short, you end up spending your bonus income. Period. Yes or no?
3. I have a stable job but I have a small savings.Yes or no?
4. I have a stable job but I have no savings at all. Yes or no?
5. I earn enough but I feel I should earn more because the money is never enough. Yes or no?
6. I get an allowance bigger than most of my friends' but it's still not enough. Yes or no?
7. I'm not employed but I get paid for projects here and there. The pay is more than what most people earn in a month but I often find myself short on funds. Yes or no?
8. We had an emergency recently or in the past and I didn't have money to cover the expenses. Yes or no?

If you answered mostly yes to the questions below, then my friend, I am sad to say we need to work on your financial literacy, or your knowledge about money. It's true that money can work for you, and we will find out how you can stop running after money every month, and instead make money truly work for you. This is the key to become wealthy.

I will teach you lessons that I had to learn the hard way (by being employed and starting my own business). I will share with you valuable lessons about money in a simplified, step-by-step guide to mastering money management.

So stay tuned, friends, and more info are coming your way here!

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Treading the path to financial freedom two years later

After the nasty encounter with scammer and plagiarist DJ Clix* (I know your bad karma must be bogging you down by now,) I've found and became comfortable with a path that I believe, and as other have proven, truly leads to real financial freedom.

I admit when I succumbed to the idea of clicking ads, it was one of the lowest points in my life when I had the skills and time but I just wasn't making money. Clicking ads sounded easy and I gave in easily because I was in a vulnerable state.

Perhaps some of you felt like I did. It was like, do this to earn or be totally broke. In the real world, having a few dollars as income per month sounded more attractive than earning nothing at all.

But a few months after, I came across a group of people and several books which turned my belief and attitude towards money 360 degrees.

From a bum whiling away hours in front of a desktop computer, I have become -- through will, guidance and eagerness to learn from what I've found -- an independent professional earning five figures per months.

It's true, folks. That's why I've stopped posting here because suddenly, after the money started pouring in, neobux, clickbux and all ppc sites sounded like a terrible idea. Yes, there are people who earn from this, but why settle for cents when you can earn thousands? If I can do it, then you can, too!

No, this is not some crazy sales talk and I won't be selling you books or seminars. I came back her to pass on what I've learned because these were passed on to me too, and it's only right that I return the favor by helping others benefit from this knowledge.

But just as my friend often says, You take people as far as they will go, not as far as you would like them to go." So if you would really want to earn thousands online like I did, you have to make a CONSCIOUS DECISION TO TURN YOUR LIFE AROUND FOR THE BETTER.

That is all what you have to do. Choose and want for yourself the riches you deserve, then read on to the bombshells of information that only the selected few, the rich people, know about.

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