Getting a mortgage can help you achieve Financial Independence faster! Getting a mortgage can be one of the single biggest financial decisions you will make in your life. Therefore a mortgage can have a big impact in your financial journey and you have to get it right. Owning the home you live …
Accommodation expenses are the most significant monthly expense for most of us. Thankfully, whether you are renting or owning your flat or house there are many ways in which you can reduce or even eliminate this significant monthly expense. Below are the FILIP ways for reducing your accommodation expenses starting today! …
Transportation expenses is one of the four main categories of necessary expenses together with accommodation, food and taxes. Therefore, it is very important to research well the different available options. Here are the FILIP suggestions to reduce your transportation expenses. 1. Work from home (Estimated monthly cost £0-£50) In the …
Tax planning is very important! Do you know what percentage of your income gets paid to the government each year? Most people do not know the answer to this question, this is especially true for people who are employees as tax gets automatically deducted from their salary each month and most employees receive their …
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Effective debt management is key towards your financial independence journey! The first goal in the FILIP formula is to pay back in full all high interest debt such as credit card or personal loan debt. Repay high interest debt faster There are some easy, quick ways in which you can reduce and pay back faster …
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Financial goals towards your financial independence require a long term horizon, developing a good plan and discipline in execution of your plan. Example 1 Do you want to become financially independent having available an amount at least equal to your average monthly disposable income? Contribute 20% of your gross salary into your pension …
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So you have managed to start saving and increase your monthly savings ratio to a satisfactory level. Now you can use your savings to apply the FILIP formula, a simple formula which will hopefully help you achieve your financial goals and life goals easier and faster and ultimately reach financial independence. Financial …
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Save money – The importance of saving Do you know how much money you spend each month? That is the most basic question on the way to financial literacy. FILIP knows exactly how much money they earn and spend each month and therefore how much money and what percentage of their monthly income they …
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Being a Financially Literate Person can improve your life and our societies Have you considered how being a Financially Literate Person (“FILIP”) can improve your life and the world? Have you thought how daily financial decisions affect your life, your health and the world we live in? Financial literacy is to have the …
Financial Literacy & why a Financially Literate Person (FILIP) wins Read More »