It's about how he was able to help his maids and his driver on their finances and encouraged them to invest in the stock market. I myself am interested in the stock market and would want to invest in that soon. Not now. I'm still struggling with my finances to say the least. I try to make a list to budget my salary but it I still don't have enough for savings and emergency fund. But after I read Bo's ebook, I started to somehow manage my finances.
In his book, he talked about a simple system which is what I recently practiced. It is about his maids dividing their salary into 5 envelops. And it works for me! Here it is:
- First Envelop: Tithe Fund
- Second Envelop: Expense Fund
- Third Envelop: Support Fund
- Fourth Envelop: Emergency Fund
- Fifth Envelop: Retirement Fund
For now, I'm still trying to really manage my finances. I basically discipline myself. I don't even go to movie houses lately. And since I'm following the rules of Bo, I now know how to say NO to unecessary spending. And I'm proud of it!
Thanks Bo! I finally am able to manage my finances! Stock Market, you're next!