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Time Value of Money: How to Determine the Value of Money with Respect to Time

Money received today is more valuable than the same amount of money a year from now. It is essential to understand the relation between mone...

Why it's Important to Track Your Expenses

Have you ever wondered why you usually have little left days before your next paycheck? Have you experienced emptying your ATM just to pay your bills? I was in this predicament a couple of years ago.

I spent on small things, and I didn't realize that I spent most of my salary on things that I didn't need. I didn't mind those expenses because the costs were negligible compared to my salary. I used to buy coffee during the morning right before I go to work. I would dine out twice or thrice a week with my girlfriend. I never realized that every peso I spent splurging on those little things would add up.


When I finally decided that I wanted to invest to prepare for the future. I made a plan on which products to invest in and when I would start investing. When the date came I didn't have to money to open an account. This continued until I finally decided to track my expenses.

How to Accumulate Wealth and Become Financially Independent

Accumulating wealth can be attained through proper planning and determination, no matter what your current financial status is right now. There are a lot of people who want to accumulate wealth but don't know where to begin. I have listed a few guidelines to help you get started with your path to financial freedom. With a little discipline, patience and determination, you will attain your goals in no time.

Start now! 

Money invested today will earn more than the money that is invested tomorrow. Ask yourself how many times you planned to save or invest but never started. If you don't start now, you will always find a reason why you can start tomorrow. Some of the common reasons people tell themselves are "It is pointless to save now since you can only set aside a small amount." and "I am still young I can always start preparing when I am older". These are the most common misconception among young adults.

When you have few responsibilities and a low cost of living, it is the best time to plan for your future. It is when you are young that you will have more cash to spare for your future. Even though if you are earning a low salary, your expenses are also at a minimum. As you grow older, it will be harder to set aside a portion of your income for your future. Once you start a family, there will be more expenses to worry such as rent or monthly amortization, groceries, utility bills, and tuition fees. Starting young will give you an edge when you grow older. Time is the best tool you have in increasing your retirement fund.