Don't Save Your Money in Banks

That's the most significant learning I got from reading Bo Sanchez's books. No, he is not totally against saving our money in a bank. In fact, he advises all of us to put 3-6 months of our salary in a bank for emergency purposes. Other than that, the rest of our disposable money should not be parked in a bank. Why? Because we will not get the maximum gain if we do so. Not even the time deposit will grow our money exponentially. Even an 8% per annum (this, I think, is the highest rate being offered by one of the biggest rural banks in the country) is nothing if there are other charges that will be deducted once a time deposit has matured.

The Road to Financial Freedom

I came across a book by Bro. Bo Sanchez, the popular charismatic Catholic preacher, about the Eight Secrets of the Truly Rich. It talks about how his views on accumulating riches have changed from that of negative to positive. He also gives some practical steps on how to free oneself from financial burden and earn passive income that would give anybody the opportunity to increase the active income -- one derived from day job -- without really eating too much of one's time.

I Will Be Rich

I never dreamt of becoming rich because I just wanted to live a simple life. I was content with just being able to feed my family at least three times a day, send the kids to school, pay all the bills, and spend some for leisure activities.