Category: Money Radiance Book

(Excerpt taken from Money Radiance) By Jon Kho When it comes to leaving a legacy, having enough for ourselves materially should not be a prerequisite for passing the baton. We can still help others improve their way of life by passing on what we have learned from our life’s experiences and teaching the next generation how to do things on their own field. On a relay race, passing the baton is so critical that if one of the runners drops the baton while trying to pass it to the next, the whole team would lose the race. If the team wants to finish the race, it would be imperative for every member to not drop the baton but to make sure that the baton is passed on from runner to…

(Excerpt taken from Money Radiance) By Jon Kho Our view towards money is the key to success in our spending habits and pursuits as it can make us happy or miserable in this area. There are 4 Mentalities with regards to spending money: Mentality 1 This is when we receive our paycheque from our job or income from our business. We usually allocate it immediately to what we deem as important in our expense column. Then, after satisfying all the needed things to pay for, only then are we able to save on what is left for us. This is good, but the problem with this mindset is that most often, we are not able to save anything because we feel our income is not enough. Mentality 2 This is…

(Excerpt taken from Money Radiance) By Jon Kho Consider this situation: Your employer or your business has given you a good chunk of money for you to live by for the next couple of days. What are you supposed to do with it? Here are some tips on handling money and paying off those debts, as demonstrated in the 4 Ss: 1. Set Aside Wisely Have a plan. If you are an employee, you would know how much salary you receive every month. Create a draft on your journal the priorities of your budget allocation. After jotting down the things you think are your priorities, look at the list again. Are the items on your list the absolute essentials for your household’s needs? Will something happen if you fail to…

(Excerpt taken from Money Radiance) By Jon Kho Since money is used to help one achieve his or her life's goals, then one must learn how to set those goals. It is my personal conviction that my life should have a vertical and a horizontal component. This is why, for my life’s goal, I limit the importance of allocating my funds to two important aspects of my life, namely, God and Family. 1. God God should be at the forefront of how I think of money. Since He alone is the Giver of all things, in His Sovereignty, He alone can give blessing in what He deems important to me. And since God is the Giver of all things, my perspective changes in how I view money. I am now…

(Excerpt taken from Money Radiance) By Jon Kho In order to draft a financial plan, we need to have a good perspective of money. Let us use the 4 Cs of life, namely, Create, Cover, Control, and Celebrate. 1. Create Create is the stage where one starts receiving and handling money. This is the stage of exploration, where we get the idea that money is essential in our daily life. We think of a lot of ways to create money, such as asking for allowance from our parents when we go to school or receiving our paycheck month in and month out while we actively work for money. This stage is the foundation of it all. 2. Cover Cover is the stage of protection where one safeguards the money. When…