Net Worth Update (September 2012)

Is Money Your Terrific Servant Or Your Terrible Superior?

Three Steps to Abundance 

Is Money Your Terrific Servant Or Your Terrible Superior?

By Bo Sanchez

Is Money Your Terrific Servant Or Your Terrible Superior?

From TrulyRichClub Wealthstrategy...
Today, I want to talk to you about Holy Money. Money can be a terrific servant but a terrible superior. The moment money controls you, it destroys you. But if you control money and use it for good, it can become a wonderful instrument of God’s love. I’d like to share with you Three Steps to Holy Abundance. And I’ll base these three steps on one of the most inspiring (to me) miraculous stories in the Old Testament.

Read it carefully……

The wife of a man from the company of the prophets cried out to Elisha, “Your servant my husband is dead, and you know that he revered the Lord. But now his creditor is coming to take my two boys as his slaves.” Elisha replied to her, “How can I help you? Tell me, what do you have in your house?”

“Your servant has nothing there at all,” she said, “except a small jar of olive oil.” Elisha said, “Go around and ask all your neighbors for empty jars. Don’t ask for just a few. Then go inside and shut the door behind you and your sons. Pour oil into all the jars, and as each is filled, put it to one side.” She left him and shut the door behind her and her sons. They brought the jars to her and she kept pouring.

When all the jars were full, she said to her son, “Bring me another one. But he replied, “There is not a jar left.” Then the oil stopped flowing. She went and told the man of God, and he said, “Go, sell the oil and pay your debts. You and your sons can live on what is left.” (2 Kings 4:1-7)

I love this story. Here was a real financial problem—And God responded to this financial problem from the mindset of abundance and not scarcity. Elisha didn’t tell this poor widow, “Just pray and read your Bible. Focus now on the spiritual, not on the material. God is more important than your two sons. Now that you’ll be alone in life, join the convent….”

That sounds totally silly, but that’s how some religious leaders respond to other people’s financial problems. They avoid it. They give spiritual solutions to material problems. They want good people to remain poor. They expect it. Because they have a hyper-spiritual scarcity mindset.

But Elisha wasn’t like that. He addressed her financial problem by giving her a financial solution: He got her into the oil business!

Love Me or Hate Me

As a spiritual leader, I get a lot of flak when I give financial teaching. One very angry religious leader asked me, “Bo, why do you talk only about money these days?” Excuse me. I don’t talk only about money. Let me clarify what my life is all about: It’s about Jesus. Beginning, middle, and end. My mission and passion is to help people love God and follow Jesus. Because money will never make you happy, Only God can do that.

BUT God has placed a divine burden in my heart to help good people prosper, to become entrepreneurs and investors, so that they can prosper others too. (Side note: Have you noticed something about successful people? You can’t be neutral about them. You either love them or hate them.

Well, I must be doing Bo’s Wealth TIPS something right because I’m making people choose—you either have to love me or hate me. Because you’re here, I’m hallucinating that you’ve chosen to love me.)

But I want to be like Elisha. When he was presented with a material problem, he didn’t go hyper-spiritual. He addressed it head-on with the mindset of abundance. I believe God thinks in abundance. The Bible says, Remember the Lord your God, for it is He who gives you the ability to produce wealth (Deuteronomy 8:18).

Think about it: God wants us to produce wealth. In fact, in Psalm 35:37, it says that God rejoices, delights, and is happy in the prosperity of his people. Isn’t that refreshing? If you listen to some religious people, you’d think that God delights when we are poor. Sheesh.

Well, if you think in scarcity, that’s what you’ll receive—scarcity. But if you think in abundance, then you’ll receive abundance too. Because when you change your thinking, you’ll change your living. Here are three practical steps to reach abundance in your life…

Three Practical Steps to Abundance

In this story, I realize that abundance comes from what’s available, acceptable, and actionable…

1. Available

If I were Elisha, I would have just pulled out my wallet and said, “Here lady, let me give you some money…” But Elisha didn’t want to give charity. He didn’t want to give a dole-out. Because God didn’t want her to be a beggar, He wanted her to be a businesswoman. God wanted her to preserve her dignity. God wanted her to be a part of the solution.

Elisha could have just said, “You need money? Abrakadrabra…” And a treasure chest full of money would suddenly appear in front of her. But that’s not how God usually works. God doesn’t take something out of nothing—He usually takes something out of something.

To multiply food for 5000 men, God has to use a little boy’s lunch of five bread and two fish. To defeat Goliath, God had to use a stone from a young shepherds’ sling. And to build a church, God had to use 12 ordinary, imperfect, immature, power-hungry, insecure men. To create saints, God uses sinners.

God creates something out of something. So Elisha asked her, “What do you have in your house?” What’s in your possession? What can you offer? What do you have that you can use to gain abundance? And she said, “A little jar of oil.” I know you want abundance.

A lot of people do. But many people don’t get it because if you want abundance, you need to put something on the table. You need to identify your “jar of oil”. Answer this question and you make your first step towards abundance.

Tell me: What is your jar of oil? What do you have right now—a gift, a talent, a passion—that you can bring to God so He can multiply? Even if I’m terrible in math, I still remember what my math teacher in grade school told me—that zero times any kind of number—no matter how big—is always zero. For example, one hundred billion times zero is equal to zero. And one hundred trillion times zero is still equal to zero.

In the same way, God’s power, no matter how infinite, can’t do anything in your life if you don’t offer what you have. It’ll still come out to zero. Let me ask you again. What’s your jar of oil? It may be small, but that’s where your abundance will start. Thirty years ago, my friend started his small business with P150,000. Today, that business earns more than one billion pesos every year.

People who want to be entrepreneurs tell me their frustrations. “Brother Bo, I don’t have lots of money to start my business. How can I start?” And I tell them, “What do you have?

Start with that. At this stage in your life, the worst thing that can ever happen to you is to have lots of money. If you’re starting a business with lots of money, and you know nothing about business, believe me, you’ll just lose all your money. When you start a business, don’t look for what you don’t have. Look for what you have. Bootstrap. Tighten your belt. Make do. Start small.”

A Small Flickering Light

Speaking of making do: Thirty-two years ago, Light of Jesus, our spiritual family, started with 20 to 30 people. Half of those were relatives—Mom, Dad, me and my five sisters, two cousins, and three aunties! Where did we meet?

In a garage. Our entire sound system was an old karaoke. Song lyrics were handwritten by my sister Beckie on large manila paper pasted on the wall. (It helped that our songs were very short like Lululalei Lalulalulalei… Put your right hand in, put your right hand out, and shake it all around.

Do the boogie woogie and turn around, and that’s what it’s all about. I have no idea why that was a religious song, but that was what we were singing back then.) My sisters Bubu, Tina, Pinkie, and a couple of cousins were the choir. Dad and Mom were the greeters team. My elderly Aunt Sisang cooked delicious almondegas for everyone. So even if my preaching wasn’t very inspiring, at least people were inspired by the almondegas.

Yes, I was the preacher. Oh, you should have seen me back then. I was 14 years old, an awkward lanky guy with pimples and a squeaky voice wearing sandals, jogging pants, and an old t-shirt. I was as ugly as a frog. (But there were still a lot of pretty girls who fell in love with me, hoping that if they kiss me, I’ll turn into a prince.) I was preacher, worship leader, guitarist, lead singer, counselor, and healing ministry.

All of us gave our jar of oil. And God multiplied it. Today, Light of Jesus has spread all over the world. Yesterday, I came from Singapore. The last time I went there was fours years ago. Light of Jesus was 15 people meeting in a living room flat. Today, there are three Feasts in the area—two in Singapore and one in Kuala Lumpur. They too gave their jar of oil and God has multiplied them.

Is God asking you to start something? Start with what you have, no matter how small it is.

Second step to abundance…

2. Acceptable

Elisha told her to borrow empty jars from her neighbors. He specifically told her, “Don’t ask for a few.” And here was the miracle: The oil kept on multiplying UNTIL there was an empty jar. The moment all the jars were full, the oil stopped flowing. So who determined the amount of abundance? She did. NOT GOD.

Perhaps she said, “Five jars are enough.” So she ended up with five jars of oil. If she got 10 jars, she would have had 10 jars of oil. If she got 20 jars, then she would have had 20 jars of oil. We think it is God who determines our wealth. That’s not true. He simply gives us the key to His infinite storehouse and says, “Just take whatever you want.”

I liken it to a game I saw on TV. The participants were taken to a giant grocery store. With a pushcart in front of them, they were given five minutes to fill their cart with anything they wanted. There was this woman who went straight to the sardines section—got the cheapest brand (because that was what she was familiar with) and got an armload. She then rushed to the instant noodles aisle and filled her cart with it. Poor girl. She got less than P5,000 worth in her cart.

I was thinking—she could have gone to the meat section—and loaded her cart with prime steaks from Australia. That would easily be worth P100,000—and she could have sold it.

What Are You Willing to Accept?

This is what Adam Khoo calls “Level of Acceptance”. I believe your level of acceptance, not your level of expectation, will ultimately determine your level of abundance. Listen carefully. What you expect and what you’re willing to accept are two different things. Believe me, what you’re willing to accept is 10 times more powerful than what you expect. There are two things that can drive a person: hunger and hope.

And hunger is 10 times more powerful than hope. Desperation is 10 times more powerful than your dreams. One day, I was talking to a man who told me, “Bo, for a long time, I was earning P20T a month.

I had a big goal. I wanted to earn P200T a month! Ten times more! So I worked hard and prayed hard, got into tiny business, and soon, I was earning P75T! It was unbelievable. I was so happy. But Bo, that was two years ago. For some reason, I’ve been stuck at P75T. I’m very happy with my P75T.

But I wonder how I can go to P200T a month…” I told him what I’m telling you now, “The reason why you’re stuck at P75T is because you’ve reached your level of acceptance. Your income has more than tripled—from P20T to P75T. Your needs are now met. Your desperation has been satisfied. Your income jumped from P20T to P75T because of the fuel called hunger.

Now, you want to move from P75T to P100T, but you changed your fuel. It’s no longer hunger but hope. In your mind, you’re telling yourself, Wouldn’t it be nice to earn P200T? It’s a dream without desperation. Because you’re actually happy with P75T. If you want to move from P75T to P200T, you can’t just be fueled by hope. You have to be fueled by hunger. So your goal now is to find your hunger again.”

I’ve seen a lot of people whose hunger ended the moment their needs were met. But what about the hunger of those around them? I was reflecting on my own financial journey. Because I’m totally immersed in ministry work, every single day sharing God’s Love to others, I’m ALWAYS hungry. But it’s no longer my hunger.

(My needs are simple and I’ve met them a long time ago.) Every day, I feel the suffering of God’s people around me. Their hunger has become my hunger. Their pain has become my pain. Their tears have become my tears. So I earn as much as I can so I can give as much as I can.

How many empty jars will you bring before God? Like Elisha, God says, “Don’t bring a few.” Bring a lot more. I like what preacher Steven Furtick said: “If your vision isn’t intimidating to you, there’s a chance that it will be insulting to God.”

3. Actionable

When all the jars were filled with oil, Elisha told the woman, “Go and sell the oil…” Imagine if the woman said, “But I don’t have any sales skills. I’m very shy. And Elisha, if you were going to perform a miracle, instead of multiplying oil, why didn’t you just multiply money instead? It would have been easier for me!” That’s our problem. We’re addicted to easy. We’re infatuated to easy.

But much of the success you want isn’t found in the world of easy. This reminds me of a man who, one evening, was walking on the street when he saw a guy searching for something beneath a lighted lamppost. Wanting to help, he asked, “Did you lose something?”

The man said, “I’m looking for my wallet.” Both men searched beneath the lamppost. After a few minutes of finding nothing, the passerby asked, “Are you sure you dropped your wallet here?” The man shook his head and said,

“Actually, I dropped my wallet 10 meters over there,” pointing to the darkness. The other guy was shocked. “For crying out loud, what are we doing looking for it here?” The man replied, “Because it’s easier to look for it here.”

We make the same mistake. We’re looking for success in the world of easy. Here’s what I learned: The miracle of God requires the action of man. The hemorrhaging woman of 12 years had to push herself inside the crowd to touch the hemline of the garment of Jesus. The paralytic had to boldly stand up, pick up his mat, and walk. The catch of fish that almost broke the nets of Peter was done by going farther and deeper into the lake.

Even dead Lazarus had to walk himself out of the tomb. God loves action. And He allowed abundance to flow through your action. What are you willing to do to make your dreams come true?

Final Word: Travel Light

“But Bo, if the amount of abundance we receive depends on what we’re willing to accept, won’t we grow greedy? Doesn’t the Bible preach on contentment?” Oh, it does. The Bible says, Keep your life free from the love of money, and be content with what you have (Hebrews 13:5).

I want you to be content with what you have. But DON’T be content with what you can earn for others. Stop thinking of yourself. Stop thinking of your needs. Be the very best that you can be so that you can be a richer blessing to others!

Don’t love money. Love people. You need to learn how to “travel light”. Each year, I take a group for a holy pilgrimage, and in these pilgrimages, I meet the most wonderful people. In one trip, I met this fascinating woman who only brought with her one smallish pulling bag as her luggage. Almost everyone else brought two gigantic suitcases the size of refrigerators.

I also noticed she wasn’t buying too many things from the shops. So I asked her, “How did you learn to travel light?” She smiled a knowing smile. Like she was waiting for me to ask her that question. She said, “One day my house in the famous Provident Village in Marikina was surrounded by raging floods. And it destroyed my home and everything in it. Everything I worked for was gone.

I stayed up in the rooftop for 16 hours, waiting for the water to subside or for someone to rescue me. But Bo, those were the best 16 hours of my life. I went down from the roof with a totally new perspective on life. I went down a changed woman.” “Wow,” was the only thing I could say.

“Before that day, I was very materialistic. I would buy this and buy that, and there was no stopping me. But then the flood happened. Brother Bo, when the floods came and destroyed my house, I realized that I couldn’t bring up everything on the rooftop. It dawned on me—If I couldn’t bring up everything on the rooftop with me, how much more can I not bring up everything with me to Heaven?”

It was amazing how free she was from material things. May you use your money for love. God isn’t against money. In fact, He wants to give you more money. He wants to fill your barns. Honor the Lord from your wealth and from the first of all your produce; so your barns will be filled with plenty and your vats will overflow with new wine (Proverbs 3:9-10). But He gives it to you for a purpose—to love more. Travel light.

May your dreams come true,

Bo Sanchez

PS. By the way, the TrulyRichClub isn’t just about Stock Market investing. That’s only one part. In the TrulyRichClub, aside from teaching people how to grow in their financial life, I also teach people how to grow in their spiritual life. 

For what’s the use of growing in your finances if you lose your soul?

To know more about the TrulyRichClub, click the link below:  

Yes Bo, teach me how to grow my money! 

Tell me more about the TrulyRichClub

Combined or separate finances for married couples?

I have been trying to figure out a system to manage the finances with my future spouse. My girlfriend is against the idea of separate finances while I feel that both systems have their pros and cons.

Combined finances could accelerate wealth accumulation given that both parties in the marriage have common financial goals. Also, combined financial power can contribute to a sense of solidarity, as you begin to think of spending as a unit. Saving together allows a couple to start working towards mutual goals, such as buying a house, going on an overseas trip or building passive income.

On the other hand, separate finances will be a fairer system if the couple have a huge income disparity or markedly different spending habits. Also, it may allow greater independence when it comes to spending and make personal gifts and dates more special.

What appeals to me most is a hybrid system that incorporates the benefits of both combined and separate finances. In this system, both spouses put their entire paycheck into the joint account, and then withdraw a fixed amount(allowance) into their personal accounts every month. Household expenses and bills will be deducted from the joint account.

Below is an illustration of the system assuming take-home pay to be $3,000 each:

Both my wife and me will deposit our entire paychecks into a joint account. We will each withdraw $600 as our allowance. If there is any amount left at the end of the month, we will deposit into our personal accounts and this will form our individual personal savings. Parents' allowance, household bills, insurance, cash portion for mortgage payments and other miscellaneous expenses will be debited directly from the joint account. Also, an amount of $2,000 will be set aside every month as our opportunity fund. There will be a leftover of $1,000 in the joint account every month and this will be our combined savings/emergency fund.

Updates: Bursary Application 2012

I called up my school today to enquire about the status of my bursary application. I am pleased to know that I will be awarded the full quantum of $3,700. The bursary will be disbursed in 2 stages in late October 2012 and January 2013 respectively.

Also, the result of my private bursary application will be known in early November 2012. If this private bursary application is successful as well, I will be awarded an additional $1,800. Investible net worth is estimated to cross the $60k mark by February 2013, leaving me 10 months to accumulate $10,000 in order to achieve my first goal - $70,000 by age 25 (Dec 2013). This target should be easily achievable as I should be starting work full time in mid 2013 after graduation if nothing goes wrong.

When Money can buy happiness?

When Money can buy happiness?



Money can buy happiness



As a Quotes say,

Money can buy a house but not a home…

Money can buy a bed but not sleep…

Money can buy a clock but not time…

Money can buy a book but not knowledge…

Money can buy blood but not life…

Money can buy sex but not love…

For some, money can cause a lot of pain and suffering so to help you with that pain send all your money to me and I will suffer for you. joke! (hehehe!)

So, what’s the point of this joke? Money is not everything and the common belief is that money can’t buy happiness.

Let’s accept it; lack of money can be a real frustration. You need a certain amount of money just to cover the basics in life – food, shelter, and clothing. But having more money does not mean necessarily make you happier. It really depends on what you do or where to use your money that creates happiness.

I’ve been reading a lot of this topic and I have come to believe that money CAN, in fact, buy happiness – we just have to spend it on the right things.

1. We can be happy by spending our money on experiences, not things Spending is fun.

Spending makes us feel rich. But unfortunately, it’s a short term high that does not usually last.

Think back to a great trip or a memorable experience and how does it make you feel? Spending money on experiences can create everlasting happiness because those memories can last a long time.

2. We can be happy by spending our money on relationships

People have a strong influence on our happiness. Making others happy can make you happier. Being around with happy people often makes it easier to be happy. I know my relationships are very important to my happiness.

money equal happiness

I’m not suggesting that we buy friendships but investing in friendships and relationships can go a long way. Couple this with the first thing about experiences and you can have a very powerful combination.

I had a friend that was not interested in buying an expensive toy for his kids. Instead, he felt better investing that money for a family picnic every Sunday. That not only brought him more happiness but also brought more memories and bonding time for the family.

3. We can be happy by spending our money to create security and control

One of the key elements to happiness is to have financial security and control (Stress free cause by money). Paying down debts and saving money adds to happiness. Spending money on stuff is like a drug. It can give you a quick high but it’s often not sustainable.

4. We can be happy by spending our money on pets

Many studies have shown that people love their pets and pets can be a tremendous contributor to happiness. I don’t have pets today but I grew up with dogs/cats in the house and I loved the unconditional love and happiness they brought into my life and our home.

5. We can be happy by spending our money on health

Good health has many benefits including the potential for more happiness. Good health creates opportunity for experience, relationship, activities, confidence, energy and accomplishments.

6. We can be happy by spending our money on goodwill and community

One of the best ways to make yourself happy is to make someone else be happy. Think about ways you could spend the money that would make a big difference to someone else — whether someone you know, or a cause you support.

Does donating money to a good cause make you feel like a better person? Does it make you happier? I know I get a lot of joy and happiness by giving financial help to those helpless people.

Last Word

Making happy everyday is a personal choice just like our values and thoughts around money are also personal. That’s also why financial planning is personal too. There is no exact ways on finding happiness whether you have money or not. Therefore, there is also no perfect correlation between money and happiness. That correlation is personal.

For me, I’m not ashamed to say that there are a lot of things that make me happy and having enough money is one of them. I love money and I love what money can do for me and my family. Not everyone feels the same way. How do you feel? What do you think?

“What If Everything Crashes?”

“What If Everything Crashes?”

TrulyRichClub stock market updates…


Stock market crashes

The stock market has NOT been very exciting these past two months. Almost all stocks are down. Let me clarify: It’s not exciting for new TrulyRichClub members. But it’s exciting for the older members. (I’m not talking of their age, but the time they joined the Club.) It’s during these difficult times when the difference between neophyte members and mature members come out. “Older” TrulyRichClub members have already been sufficiently brainwashed by… uh… me.

They smile a knowing smile during these “down” times. Because they know that their greatest earnings are made when they buy at this difficult time. They buy with conviction and courage. On the other hand, new TrulyRichClub members are fearful. Last month was an extremely trying month, especially when I asked everyone to “switch” EDC and CEB (at a loss) to our other SAM stocks. Some wrote to me, just asking for some words of emotional assurance. One wrote, “Brother Bo, please tell me I’m doing the right thing. On paper, I’m losing money. I’m so afraid. I’m still investing each month only because I trust you.”

I wrote back, “Thank you for your trust. I’m humbled and honored. But hopefully in the next 12 to 18 months, when you start seeing the happy results of your investments, you’ll be like the Apostle Thomas—that your belief will be based on evidence. Because you’ll see with your two eyes how your investments will go up in value…”

Regularly, I get “mobbed” by the “Older” TrulyRichClub members. They approach me whenever they see me in restaurants, bookstores, or just walking in the mall. They tell me how their stock market investments are growing. Usually, they say things like, “My investments are up by 24 percent!” or “18 percent!” or “32 percent!” or “35 percent!” Wow. I love these percentages.

But for new TrulyRichClub members who are starting out, they’re terrified during down months. Sometimes, this fear prevents them from investing. The other day, while walking in a mall, a middle aged bespectacled man came up to me, and he didn’t give me any percentages. Because, he couldn’t. After our friendly greetings, he said, “Brother Bo, I’ve been a member of the TrulyRichClub since last year.

I’m really happy reading your stuff. I learn so much. BUT…” and he paused really long… “I can’t invest in the stock market. I just can’t. I’m afraid. What if the entire economy will crash?” My heart went out to him. I could actually “smell” his fear. It was very real. My spiritual antennae discerned that this man was gripped by many, many fears.

I nodded, “Yes, anything can happen. The economy can crash.” “And all the favorite SAM Stocks you tell us about will be cut in HALF. That’s possible, right?” “Yes, that’s possible.” “Well, what will you tell your TrulyRichClub members if that happen? They’d be horrified.” I laughed, “If I was successful in indoctrinating them, no, they won’t be horrified. They’d be thrilled. They would save MORE money and buy MORE stocks. Tell me, would you buy a Mona Lisa painting if it was sold at half the price? So that you could re-sell it at full price in a year or two later?” “Yes, if I had the money, I guess I would.” Later on, he revealed all the other imagined fears in his life. I prayed for him. Before we parted, he promised to start investing. I really hope he does.

My friend, don’t be ruled by your fears. Be ruled by your faith!

May your dreams come true…

Bo Sanchez

PS. By the way, the TrulyRichClub isn’t just about Stock Market investing. That’s only one part. In the TrulyRichClub, aside from teaching people how to grow in their financial life, I also teach people how to grow in their spiritual life.

For what’s the use of growing in your finances if you lose your soul?

To know more about the TrulyRichClub, click the link below:

Yes Bo, teach me how to grow my money!

Tell me more about the TrulyRichClub

Ethics, CyberEthics and CyberBullying Blog Instructions

Select one of the following articles or video. Write a critique and response to the article or video in your blog.  Choose an appropriate and fitting title for your post.

Work Ethics: The entitlement Creed - http://www.workethic.org/resources/resource-articles/ 

Patent Violation (CyberEthics):  Apple Wins $1 Billion as Jury Finds Samsung Violated Patents

http://www.cnbc.com/id/48783982

CyberEthics: Teens Grapple with CyberEthics in the Digital Age http://www.technewsworld.com/edpick/73445.html

CyberBullying: The Megan Meier Story http://www.meganmeierfoundation.org/

CyberBullying:  Identification, Prevention and Response http://www.cyberbullying.us/Cyberbullying_Identification_Prevention_Response_Fact_Sheet.pdf

CyberBullying: Top Ten Tips for Teens

http://www.cyberbullying.us/Top_Ten_Tips_Teens_Prevention.pdf  and http://www.cyberbullying.us/Top_Ten_Tips_Teens_Response.pdf

Your critique and responses should include but are not limited to the following:

1.      Introduction and summary of your article. Describe or explain what the article is about and a hyperlink to the source of the article. Include the name of the website and title of the article and then the web address or link to the article. Use a HYPERLINK not a long URL!

2.     What viewpoints do you agree on?  Why?  Support your reasoning with other sources or other people’s point of view.

3.     What viewpoints do you have an issue with?  Why?  Defend your answer with other sources.

4.  Summary or conclusion.  What did you take away or learn from the article.  What are your final thoughts on the topic?  Do not be redundant

When to have my first child?

I am planning to have my first child in year 2020/2021(32 or 33years old) and that is also the time when I have fulfilled/almost fulfilled the Minimum Occupational Period(MOP) for my HDB flat. I will then sublet my whole flat and move to my parents/parents in law's place to stay for a year. According to my girlfriend, her mother has already agreed to such an arrangement even though that will be in 9 years time.

Rental of a similar property in the area is around $3500. Assuming rental stays constant till 2021, I will be able to rent out my flat and receive a passive income of $3500 monthly. After taxes and expenses(additional allowance for parents in law), it will be approximately $2800/mth or $33,600/year.

Apart from the financial benefits of this plan, I'll also be able to spend more time with my child and my future parents in law could take care of their grandkid as well. As my HDB flat is quite a distance from my girlfriend's home, I could save tonnes of travelling time and costs if we stay at my future parents in law's place. Most importantly, my girlfriend is happy with this arrangement.

Quotes about Debt that will Make You Think or even Laugh

 Quotes about Debt that will Make You Think or even Laugh

Large Debt

I love reading quotes. In fact, with too many quotes I’ve been gathered. TagalogQuotes website was born.

A passionate quote can provoke thought, encourage laughter, or inspire thousands into action. So I’ll going to share with you a quote about debt that will make you think and laugh. If you find this resource valuable, please consider sharing it with your friends!  I’d like as many people as possible to be able to use this in the future.

So True...

“Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”
-Ogden Nash

“Good times are when people make debts to pay in bad times.”
-Robert Quinlin

What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience?”
-Adam Smith

“It is the debtor that is ruined by hard times.”
-Rutherford B. Hayes

“We all think we’re going to get out of debt.”
-Louie Anderson

“The man who never has money enough to pay his debts has too much of something else.”
-James Lendall Basford

“I’m in debt. I am a true American.”
-Balki Bartokomous

Proverbs, Sayings, and Unknown

“He who promises runs in debt.”
-The Talmud

“It is poor judgment to countersign another’s note, to become responsible for his debts.”
-Bible

“Debts are like children: the smaller they are the more noise they make.”
-Spanish Proverb

“Interest on debts grow without rain.”
-Yiddish Proverb

“There are four things every person has more of than they know; sins, debt, years, and foes.”
-Persian Proverb

“The only man who sticks closer to you in adversity than a friend is a creditor.”
-Unknown

“Before borrowing money from a friend, decide which you need most.”
-American Proverb

“In God we trust; all others must pay cash.”
-American Proverb

“Promises make debt, and debt makes promises.”
-Dutch Proverb

“Christmas is the season when you buy this year’s gifts with next year’s money.”
-Unknown

“A hundred wagon loads of thoughts will not pay a single ounce of debt.”
-Italian Proverb

“Running into debt isn’t so bad. It’s running into creditors that hurt.”
-Unknown

“A church debt is the devil’s salary.”
-Henry Ward Beecher

“The borrower is servant to the lender.”
-The Bible

Benjamin Franklin (and other dudes like him)

“Rather go to bed supperless, than rise in debt.”
-Benjamin Franklin

“When you get in debt you become a slave.”
-Andrew Jackson

“Tis against some men’s principle to pay interest, and seems against others interest to pay the principle.”
-Benjamin Franklin

“The second vice is lying; the first is running in debt.”
-Benjamin Franklin

“Never spend your money before you have it.”
-Thomas Jefferson

“Lying rides upon debt’s back.”
-Benjamin Franklin

“I say to you never involve yourself in debt, and become no man’s surety.”
-Andrew Jackson

“Creditors have better memories than debtors.”
-Benjamin Franklin

“Buy what thou hast no Need of and ere long thou shalt sell thy Necessaries.”
-Benjamin Franklin

“Live within your means; never be in debt, and by husbanding your money you can always lay it out well.”
-Andrew Jackson

“Those have a short Lent, who owe money to be paid at Easter.”
-Benjamin Franklin

Funny… well, some of them at least…

“If I owe you a pound, I have a problem; but if I owe you a million, the problem is yours.”
-John Maynard Keynes

“If you think nobody cares if you’re alive, try missing a couple of car payments.”
-Earl Wilson

“This would be a much better world if more married couples were as deeply in love as they are in debt.”
-Earl Wilson

“When a man is in love or in debt, someone else has the advantage.”
-Bill Balance

“Debt, n.  An ingenious substitute for the chain and whip of the slavedriver.”
-Ambrose Bierce

“No man’s credit is as good as his money.”
-E.W. Howe

“Today, there are three kinds of people: the haves, the have-not’s, and the have-not-paid-for-what-they-have’s.”
-Earl Wilson

“Forgetfulness. A gift of God bestowed upon debtors in compensation for their destitution of conscience.”
-Ambrose Bierce

“Some people use one half their ingenuity to get into debt, and the other half to avoid paying it.”
-George Prentice

“A man who pays his bills on time is soon forgotten.”
-Oscar Wilde

“I like my players to be married and in debt. That’s the way you motivate them.”
-Ernie Banks

“Ten million dollars after I’d become a star I was deeply in debt.”
-Sammy Davis, Jr.

Heavy Debt

Writer’s writers

“A man in debt is so far a slave.”
-Ralph Waldo Emerson

“He that dies pays all debts.”
-William Shakespeare

“Debts are nowadays like children begot with pleasure, but brought forth in pain.”
-Moliere

“Wouldst thou shut up the avenues of ill, Pay every debt as if God wrote the bill.”
-Ralph Waldo Emerson

“Neither a borrower nor a lender be; for loan doth oft lose both itself and friend.”
-William Shakespeare

“Debts and lies are generally mixed together.”
-Francois Rabelais

“There are but two ways of paying debt: Increase of industry in raising income, increase of thrift in laying out.”
-Thomas Carlyle

“Poets, like friends to whom you are in debt, you hate.”
-William Wycherley

“He looks the whole world in the face for he owes not any man.”
-Henry Wadsworth Longfellow

“Who goeth a borrowing. Goeth a sorrowing.”
-Thomas Tusser

“Debt is the worst poverty.”
-Thomas Fuller

“Speak not of my debts unless you mean to pay them.”
-George Herbert

“Youth is in danger until it learns to look upon debts as furies.”
-Edward G. Bulwer-Lytton

“Small debts are like small shot; they are rattling on every side, and can scarcely be escaped without a wound.”
-Samuel Johnson

“Do not accustom yourself to consider debt only as an inconvenience; you will find it a calamity.”
-Samuel Johnson

Government, Politics, and other boring topics

“Blessed are the young, for they shall inherit the national debt.”
-Herbert Hoover

“I found this national debt, doubled, wrapped in a big bow waiting for me as I stepped into the Oval Office.”
-Barack Obama

“A liberal is someone who feels a great debt to his fellow man; a debt he proposes to pay off with your money.”
-Gordon Liddy

“I go on the principle that a public debt is a public curse.”
-James Madison

“A billion here, a billion there, sooner or later it adds up to real money.”
-Everett Dirksen

“You cannot spend your way out of recession or borrow your way out of debt.”
-Daniel Hannan

“Debt is a prolific mother of folly and of crime.”
-Benjamin Disraeli

“Simply put, unsustainable debt is helping to keep too many poor countries and poor people in poverty.”
-Bill Clinton

Modern ‘Gurus’

“Debt is dumb. Cash is king.”
-Dave Ramsey

“Debt can turn a free, happy person into a bitter human being.”
-Michael Mihalik

“Chains of habit are too light to be felt until they are too heavy to be broken.”
-Warren Buffett

“If you’re thinking of debt, that’s what you’re going to attract.”
-Bob Proctor

“Debt is normal. Be weird.”
-Dave Ramsey

“If you have debt I’m willing to bet that general clutter is a problem for you too.”
-Suze Orman

Kickin’ it Old School

“Debt is the slavery of the free.”
-Publilius Syrus

“A small debt produces a debtor; a large one, an enemy.”
-Publilius Syrus

“Crito, I owe a cock to Asclepius; will you remember to pay the debt?”
-Socrates

“It shows nobility to be willing to increase your debt to a man to whom you already owe much.”
-Cicero

“It is thrifty to prepare today for the wants of tomorrow.”
-Aesop

Hard to categorize quotes…

“It takes as much imagination to create debt as to create income.”
-Leonard Orr

“A habit of debt is very injurious to the memory.”
-Austin O’Malley

“In the long run we shall have to pay our debts at a time that may be very inconvenient for our survival.”
-Norbert Wiener

“The impulse dances inside the debt.”
-Jareb Teague

“A mortgage casts a shadow on the sunniest field.”
-Robert Green Ingersoll

“One of the greatest disservices you can do a man is to lend him money that he can’t pay back.”
-Jesse Jones

“Debt is like any other trap, easy enough to get into, but hard enough to get out of.”
-Henry Wheeler Shaw

“Many delight more in giving of presents than in paying their debts.”
-Sir Philip Sidney

“Wars in old times were made to get slaves. The modern implement of imposing slavery is debt.”
-Ezra Pound

“Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt.”
-Henrik Ibsen

“Debt is the secret foe of thrift, as vice and idleness are its open enemies.”
-James H. Aughey

“Worrying is like paying on a debt that may never come due.”
-Will Rogers

“One can pay back the loan of gold, but one lies forever in debt to those who are kind.”
-Malcolm Forbes

Which quote is your personal favorite?  Is there any great quote on debt that I forgot to include (I’ll add it)?  Let me know in the comments below!