If you have known me for a while or read my blog posts, you may have seen a lot of posts hyping my My Journey to Million Project. This project is to save and invest to our retirement fund. I share my results regularly on Facebook to let every one know what I am doing. Some people see it positively, some people see it negatively. But since whatever you do, someone will tell you something anyway, so it’s better to let every one watch you from the sideline. Some will become your fan, some will become your foe.
It’s not my style to brag or become showy about my achievements. I’m a shy person and I don’t announce my results to others to praise me; I prefer other people coming to me praising my success if they have known it from someone else. I am a person who prefers to be sitting in the corner and enjoying the success by myself.
But there is also a good thing about doing such hyping. This is what Darren Hardy calls Public Display of Accountability from his book The Compound Effect. I publicly put out my goal so that I will be held responsible of any action that rolls back on my promises. As I said, I will also gain praise along the way for the progress towards the achievement of my goal.
I wanted to create a new habit so I let everyone watch me, challenge me, mock me, laugh at me, and of course, praise me if I am gaining momentum in achieving my goal. Sometimes I felt guilty about showing it off, but I learned that if people ridicule me, it pushes me all the more to work harder to move forward to my goal.
It’s never been easier with all the social media available. In my case, I concentrate writing my stories on my website and then posting on Facebook. Darren recounts about a woman who decided to get control of her finances by blogging about every penny she spends every day. She’s got her family, friends, and plenty of colleagues following her spending habits, and as a result of the many eyes of scrutiny, she’s become far more responsible and disciplined in her finances.
That’s it! Tell your family. Tell your friends. Tell Facebook. Get the word out that you are in charge with your own finances.
What’s the next goal?
So what’s my next goal after reaching my first million with my Millionaire Project? I decided to reach a total retirement fund of P2M by August 31, 2018. That means I have to double my efforts from the last two years in reaching my first million. I have to find more ways to create additional income. I can do this by looking for more services or products that I will recommend to earn extra income as an affiliate. I will move faster as well in creating my own products to sell.
I remember my article Two Ideas How To Become a Millionaire, I told about finding one million people to give me one peso each. So if will create my own product, I have a value to provide to other people that they may give me their money in exchange. So if I will price my product to P1, I need to find one million people; if P10, I will not a hundred thousand; if P100, I will need ten thousand people; if P1,000, I need only to find 1,000 people.
How much to save to earn a million peso in one year?
If you will check my Millionaire Calculator, you will find out that you will need P75,000 a month and a 10% interest to reach one million peso in one year. That’s the amount I need to save every month, if I will break it down monthly.
Since what I will earn as extra income on top of my full time job salary, I put all to my investment for our retirement fund. That is after deducting the 10% for my Church and Charity. This retirement fund will be the money machine that I am building that will work for me and my wife when we reach the point that we will not be able to work for income. At that point, our investment fund will take care the lifestyle of our choice.
So I decided to once again HYPE my results on Facebook to catapult my results by taking more responsible with the goal I set before me. It’s my resolve to reach my goal. After losing everything, I don’t have fear on anything. I will do it until.
How about you? Have you made your decision to take charge of your financial future? PM me if you are interested to know more details about how I’m taking charge of my financial future.
Doing more and becoming more are our responsibility to ourselves; this includes personal finance. If we don’t do our best, we fail our Creator. But then, it’s a choice either to follow or not to follow. There is a saying that, “You can’t help a person who doesn’t want to help himself.”
So what I do is to enrich myself from the good blessings coming from God and make the best of it. Then I share the inspiration, it’s all up to others if they will take charges of their own lives. Life is a matter of choice.
God bless and here’s to your success!