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Money Management Simplified (Part 2)

Posted by on Apr 26, 2010 in Money Management | 185 comments

In the previous article, I explained how to simplify your finances by just completing a few simple exercises on a piece of paper and I explained the three scenarios that you are probably in right now. So let’s continue our discussion right now. If you are currently in Scenario 1, you would want to move up to scenario 2 and scenario 3 immediately right? And if you are in scenario 2, your end goal is to get to scenario 3 as soon as possible.

Well, let’s get started then.  If you are in Scenario 1 (or 2), take a look at the picture below:

So here’s what you do about it. Don’t worry, I’m not going to tell you to just live below your means as this is what 99% of people try to do and still be in this predicament. The real solution is that you must work on the two problems together, not just lower your expenses, but work on increasing your take home. In this article (Part 2) I’m going to teach you how to first fix your spending habits, then in the next article (Part 3) We will tackle how to you start increasing your income.

So let’s talk about expenses first.

As the picture shows, the first thing you need to know is that there are three kinds of expenses.

1. The Necessary – These are the only necessary expenses any one needs. These are:

  • Food
  • Clothing
  • Shelter
  • Transportation
  • Education (if you have kids)
  • Health Insurance (Phil health should be enough for now)

Regarding insurance, if you must prioritize between life, non-life, or health, then always get health insurance first. At this day and age when health costs are ridiculously expensive, not having this can bankrupt anyone if he/she gets hospitalized for a prolonged period. (If you have Phil health, that is enough for now)

2. The Bad  – These are expenses that have no value after you have spent your money, I also call them useless expenses. These are:

  • Pleasure Expenses (Eating in fancy restaurants, taking expensive vacations, etc.)
  • Vice Expenses (Smoking, Drinking, Gambling, etc.)
  • Buying Items that cannot be rented out
  • Buying Items that cannot be re-sold at same or higher values.
  • Inexperienced Investing (lack of experience in knowing the difference between a scam and a true investment)
  • Debt / loans used to pay for any of the above expenses

3. The Good – These are expenses that produce “assets”. Assets are things or experiences that will add to income and your money right now. These are:

  • Learning Expenses (Self-Help / How-To Books, Great Seminars, etc.)
  • Buying Items that can be rented out
  • Buying Items that can be used, re-sold at same or higher values
  • Savings / Time Deposits with built in life insurance policies
  • Experienced Investing
  • Life/Pension Insurance
  • Charity / charitable causes (if you give some to certain charities who really need it, it will come back to you a hundred fold through other means)

Notice that I included Savings, Investing, and Insurance as “expenses” this is because with my method, everything that goes out of your “cup” I treat as an expense. But, in this case, it is a good kind of expense.

Now the next thing you have to do is to make some sacrifices and adjust your spending habits. Reduce the Bad Expenses, Keep the Necessary Expenses, then Increase the Good Expenses

Yes, I know, you are thinking: “Easier said than done” Sure it is, I never said it was going to be easy, but, if you have the right mindset, I’m going to make it fun for you. Ready? This key to be able to do what I call:

Expense Management through “Substitution”

Here’s how it works, on another piece of paper, create a table like below, and write the heading for each column, “Bad”, “Necessary”, and “Good”. Then list down in the bad column all the expenses you have right now that have no value after you spend on them. (Yes, just the Bad Expenses, leave the other 2 columns blank)



Necessary Good
Eating Out
Vacation in a province
Investing in a “get-rich-quick” scam

Good, now cross out at least one (or as many ) of them and put in a “substitute” expense in either the “Necessary” or “Good” Column, like this:

Bad Necessary Good
Eating Out Go to market and cook my own food
Vacation in a province Buy a low cost computer that you can use in business and even rent out
Investing in a get-rich-quick scam Buy a book on how to invest

For me (and my wife), this exercise has already become so natural with us that we automatically filter in our minds any expense that comes our way, we know if it’s a bad, necessary or good expense. But more importantly, we follow the very simple rule that I just explained –We do not indulge in Bad expenses, but we do not hesitate to spend on good ones. If we have a substitute expense for it either in the Necessary or Good expense column, we will always substitute it. Make this a habit and you will see that over time, this will be how your expenses will now look like:

Good luck and I hope to hear from you soon!

Now here are your 2 assignments:

1. Scroll down to the bottom of the article, leave a comment and participate!

2. Read the Next Article – “Money Management Simplified Part 3”


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Join the conversation and post a comment.

  1. Michael SD. Aquino

    wow!what you say is means that we need to concentrate to important things practical or clever.

    • markso

      Thanks Michael, hope this article changes your life for the better. Do let me know if you are able to do the exercise and the results in about a month.

      All the best!

    • Jerwin

      Hello Sir So,

      Thank you for this helpful article. I now have a more concrete idea on how to handle my savings and hopefully in the future my mind can also automatically filter bad, necessary and good expenses.

  2. saggi of youngluckygeek

    This is what we should all learn to practice by heart if we want to uplift our lives and and help uplift the lives of others as well. This is actually plain common sense, yun nga lang in the area of money management ika nga ni Robert Kiyosaki, “Common sense is uncommon”. This kind of money management is very much doable, but it requires some strong sense of discipline.

    • markso

      Thanks for commenting saggi. I’m glad you agree that it is doable and yes like all things in this life that is worth doing, we do need to sacrifice and build discipline. I hope that this article helps you and a lot more people.

      All the best!

  3. Mel

    True enough. Wise people think of ways to simplify and maximize existing resources. Thank you once again for sharing this. I call this social responsibility – voluntarily extending help to others by sharing innovative techniques. Again, more power!

    • markso

      Thanks Mel. Helping people in my view is a privelage, but more importantly, the articles and seminars that I give are truly meant to create results. And my hope is that it creates a better result for you and your friends. Keep reading, keep sharing, keep learning

      All the best!

  4. edmark

    nice sir… I’ll do apply that now…

  5. benjoe

    right you are about good and bad expenses. the problem of most people is that they want something and want to have it immediately… most would take out loans just to buy what they want. the sad part is that when you ask them why couldn’t they just save for it, atleast the most part of the cost, they would say : they can’t do it, that they keep on spending it for some other things… they complain that life is hard and that their salary is not enough and most of it goes to paying up debts. i just have to say that :”WALA SILANG BAIT SA SARILI”

    they can’t control themselves, they couldn’t do what Kiyosaki say “delaying self gratification”… they take out loans, lie as to their capacity to pay, and tell themselves “MAY AWA ANG DIYOS”…

    • markso

      Very good insight Benjoe! Managing money is not all fun, there must definitely be sacrifices. The process is long, hard and brutal. But, if there are people willing to change, I hope they will listen to your comment.

      All for the best for everyone!

  6. Juvy

    Thanks Mark,

    This will be a great guide for me and my wife.

    Look forward for the part 3.

    More power!

    Best regards

    • markso

      You are very welcome Juvy! Part 3 will be there soon enough. Please do let me know after a month if the exercise has helped you and your wife. Keep reading, keep sharing, keep learning. -Mark

      ——————————————————————————————————— Businessmaker Academy, Inc. Address: 1503A West Tower, Philippine Stock Exchange Bldg (Tektite), Exchange Road, Ortigas Center, Pasig City, Philippines Tel Nos.: (632) 6874445, 6873416 Telefax No.: (632) 6874645 Email: Website:

  7. May Roldan

    At this time your posted article helped me in some way! Now I can monitor all expenses that me and my husband make and consider the fact of increasing our so called take home pay even we earn very little. Thanks!

    • markso

      Hi May, I’m glad that you have already done part 1 I hope part 2 if my article, especially the substitution exercise will help you even more. Part 3 should be out soon so stay tuned for that.

      All the best!

  8. Fred Murillo


    Great ideas. I really appreciate what you are doing. These are practical lessons that all us should learn. I am grateful.


  9. Fred Murillo


    Great ideas. I really appreciate what you are doing. These are practical lessons that all of us should learn. I am grateful.


  10. fred

    thanks for the tips to manage money. hope to read more articles from you about money management/entrepreneurial activities

  11. David Binggo Bonanza

    Hi Sir Mark,
    I’m glad that there are generous people like you sharing precious knowledge which probably others would keep for themselves. I need this and I’m so happy I read your article. Thanks and I’m looking forward in seeing you again. more power to you and your family. God Bless!

  12. Aldin Palaming

    Sir Mark,
    I happened to read your column today in Manila Bulletin and tried to visit your blog. I’m really glad that there is someone like you who is trying to reach every Filipino to become financially independent and make the most out of our lives.
    Thank you so much.

  13. Ralph

    Mr. Mark,

    Can i ask any basic book or reference which i could learn stuff like this? I would be glad if it would be not so simple but not so deep kind of book. Thx!

  14. maripe juliano

    Some good learnings … purchase things that can be rented or sold. God bless

  15. gilbert tanyag

    Thanks.I will apply everything you said.You will hear from me as soon as I progresses.
    More power to you.


  16. jon

    great article! hope to have part 3 soon 🙂

  17. Leonides "LEO" Reyes

    its very basic… right?! 🙂 many of filipino’s new it already but the problem is mind setting… You know what sir… I will share this knowledge to my bro. and sisters and relatives… Iam praying that God will give you more strength and more wisdom and good health as well… Thank you sir! thank you!

  18. Keith Quisora

    Thank you for the inspiration!!! More power to you in all your projects sir!

    • markso

      Hi Keith, glad to have inspired you. Do come back and tell all your friends and acquaintances. I’m sure like me, they will appreciate it. Talk soon!

  19. jacqueline lipardo

    This is a good article. I used to have 2 columns only when doing budgeting: money in, and money out (ie, expenses). I had always thought expense is just money going out. Now I know, there is such a thing as good expense. This article also interesting in that budgeting is likened to dieting- I don’t have to deprive myself of things I want, but I just have to find a more sensible expense to substitue for the bad expense. I am applying this now in my monthly budgeting. More power!

    • markso

      Hi Jackie, thanks for writing in. I’m glad you are following my advice. It really works.

      Do keep coming Back for more articles and tell your friends. Talk soon

  20. patty

    i liked the part where you advised not to live just below your means but analyze your expenses and doing substitution instead of Good expenses…. useful first step in meeting one’s financial goals….thanks !

  21. Ronald

    The illustrations you’ve shown make it so easy to understand! Thanks Mark! I’ll share this to my friends! I’ll definitely promote this site.

    • markso

      Excellent. The fastest way to do that is to share this on Facebook. At the end of each article is a Facebook share button. Go ahead and click on that. Thanks! Do continue reading Money Management Simplified Part 3. Talk soon!

  22. Glo

    Great article! OFW’s like me can learn a lot from you..

  23. Josephine Yu

    To sum it up, it means self-control on spending and wisdom in planning what is necessary.

    • markso

      In summary, it means to not just lump up all expenses as equal. There are good expenses, necessary expenses and bad expenses. Reduce the bad, keep the necessary and increase the good. It is about first understanding and forming a healthier habit on how you spend. If you just reduce all your expenses indiscriminately, it doesn’t work as that is what 99% of people try to do to become richer. And 99% of them don’t make it.

  24. Romeo Teodoro


  25. al


    i will try this out, do you have any suggestion for bad exp. so i can include it in there. Mark buying something for my wife in special occassion like birhtday is in bad expense column? . this is where i used my credit card. i usually dont buy her often unless there is occasion and most of the time its a little bit costly thats why i used my credit card for her.

    • markso

      Buying something you don’t have cash for and cannot rent out or re-sell is considered a bad expense. However, since it is for your wife, then it is “necessary” ha ha ha. Kidding aside, just remember a bad expense is something that doesn’t bring back the money (rented, re-sold, make you more knowledgeable about money, etc.) some examples were already given in the article. Time to apply it now.

  26. patty

    Hi ! Mark and Jhoanna, I liked reading again your articles (August 10, 2011 was the first time I read this). I liked also that you included tithing or making charitable donations as one of the good expenses…. Thus, having more cashflow or passive income will benefit not only me and my family but also others as well. God Bless ! 🙂

    • markso

      Excellent. Reading the articles again brings out other things that you probably missed the first time around. Please do come back often Patty

  27. Noel De Leon

    Hi Sir Mark! I did the exercise. I figured I have lots of bad and necessary expenses. I also found out that i have some good expenses that I should have put to work for me. This exercise made me aware of where most of my money go. From now on I’ll always do this simple exercise so that in time this (simple money management) will also become natural with me. Thank you for sharing! God Bless.

  28. Mamy

    Nice article, the hard part is determining which one is bad and which one is a necessary expense. Sometimes we are tempted to justify that the bad expense is a necessary expense, which ends to an overspending. I am sometimes guilty of this. When we were able to pay off most of our cards, we ate in an eat-all-you-can resto. My justification was having to stay frugal for three years just to pay off cards, we deserve and we need to reward ourselves with eating out.

    • markso

      Its perfectly okay to give yourself a reward from time to time, just don’t make it a habit. You ate at a buffet, not a problem, but if you do it every week, then that is no longer a reward but punishment on your finances (and your bellies;-)).

      Also, Like all our articles, we suggest you read this one in particular again and again as sometimes, you miss out on some things that can give you “aha” moments. Especially the part where I explain and define what bad, necessary, and good expenses are. Talk soon!

  29. Geraldine

    I always make it a practice on buying things, but sometimes I indulge in expensive food. Is it bad? I can’t help to eat in expensive restaurant sometimes when I crave for food. The chunk of my expenses coming from there and my health.

    • markso

      If at the end of the day, you are still running after money after spending on these expenses, and you do not produce any money making assets, and you have not created any “wealth” then the answer is “yes” those are “bad” expenses. The quality of your life does not have to suffer if you substitute some of your “excessive” food expenses with something equally healthy but less expensive. Hope this clarifies

  30. CJ

    Thanks so much for this insight! I never thought to think of expenses as bad or good…I just thought they were all necessary.

  31. Ernie Cruz

    Houston, we have a problem! Again!!

    Mark, what about a “necessary bad” expense?

  32. Nabila Conde

    Good explanation.

  33. richard c viador

    hi mark,
    nice article,you’ve teach as a good example of how to manage our expenses. i may now say you’re the philippines version of robert’s true it’s so easy to say than to make it done.i am thanking your good advice of choosing health insurance for sometimes when money needed a life insurance is hard to get.keep it up!!! i will keep following your blog!God bless!!!

  34. Justin Dy

    Hi Sir Mark,

    I enjoyed this article because it gives some practical tips on how to handle your money and I believe this is one of the most practical ways to do it. Through managing expenses and substituting others for those that can be substituted. Another great article. Thanks Sir Mark!


  35. Rico A. Funtanar

    Is buying real estate a good expense Mark? I feel I would have earned more if I invested in stocks or traded forex…

    • markso

      Depends. If you are renting it out or reselling it then yes, if its just gathering real estate taxes and other expenses then it is not.

  36. Eric

    No pain! No gain! Your explenation is very remarkable. I’m sharing this to my family.

  37. Paul

    Hi Mr. Mark, thanks for helping us to gain better insights on our spending habits. I must share this to my family. I am also planning to buy a laptop. Is this a bad expense? How can it generate a passive income?

    • markso

      Hi Paul, please read the definition of good expense again. Can it bring money in? If you buy a laptop and just use it for games then its a bad expense, if you buy a laptop and can get a job as a transcriptionist using it, then it brings money in and it is a good expense.

  38. Robert Rafson Chua

    Mark, It is really what your saying, you have to make sacrifices now for the future and at the same time your changing your bad habits into good ones, very very helpful article. thanks again for showing me simple ways to change my mindset.

  39. tes di

    we first must analyse the good versus bad expense..though it is hard to the extent we justify our bad expenses, we should delete them and be more disciplined with our expenses..don’t dwell on excuses. Kung gusto may paraan…kung ayaw, parating may dahilan (excuses, excuses)… i know, as a had helped my sibling in analysing their expenses and coming out with doable solutions ( such as taking the jeep instead of FX or taxi), but they always have their reasons and resistance to doable solutions

  40. ULY

    Hi Mark,

    This article made me think of my expenses and allowed me to classify them properly. I was thrilled at the idea of a “good expense.” So now, i will be more conscious whether or not an expense is good, necessary or bad. Besides my regular job, i also teach part time philosophy classes at a local college. Since more than half of my students are business admin. students, I decided to share your idea about a simplified money management and told them to visit your blog too. I guess, that’s just one of the ways i could pay forward your generosity to your readers! Thanks and God bless!

  41. jing

    I agree with reducing/ substituting bad expenses. But maybe indulging a bit will be ok to give oneself more motivation.

  42. Alvin

    just the advice that i need sir mark, GODBLESS YOU!!!

  43. gerome

    I’ll try to comply what you taught to me..

  44. Skiper


    This is an eye opener for me to the right mindset.

  45. JP

    with this article, i will try to increase my extra income. i like that expense that could be rented out or resell. actually, i’m doing this thing but can’t manage. i will try this activity for a habit.

  46. marichu

    These amaze me. i didn’t think before that these can be possible. i cant wait to share it to my husband tonight.. This is an additional know-how. im thankful.

  47. Gigi Bernabe

    Yup! Really simple but quite hard to do for most people, particularly the impulsive ones. In my case, I know I can do this. I just need to be focused and determined. Thanks again Mark & Jhoanna!

  48. TJ

    Now, I’m beginning to see the light!

  49. lolly leong

    hi mr mark , i became interested with your articles since october 2o11, and during lunch or dinner with family members, i shared what i read. This will help them a lot, especially now that they are starting their college life. i will wait for the coming articles. thank you.

  50. mike asiddao

    Hi great article, but in my own view, there are some pleasure expenses that are not bad especially expenses that will create or harness bonding with your family, a modest family vacation is one of them. I for myself see to it that once or twice a year, my family get to spend vacation together, I also consider that as a reward for ourselves. But what we do is pinaiipunan namin ang get discounted fares.


    • markso

      Bad and good expenses are fairly subjective. If your vacations lead to a better life, then by all means continue to do so, in the end, having money is really all about having a better life for you and your family isn’t it?

  51. lolly

    yes, your article is very true. Most people spend today and ” bahala na” bukas. wrong attitude and lack of responsilbility. Only if you can have tagalog version, so that we can display your articles in our bulletin board for the employeesd to read. thank you.

  52. Ira

    Hi Mark! I am realizing a lot already.. I took a look at my expense goodness spent so much on food and well of course my credit cards.. hehehe. Thanks for this step. This is really an opener. I am so excited to rate all my stuffs and of course my skills. Yues, I realized I can post all my collected pictures of viands that I cooked and goodies that I baked..thanks super. God bless you and Jhoanna.

  53. ma.lourdes

    great is the start of the year and got to do everything right

  54. Cassaundra Haifley

    Very interesting details you have observed, appreciate it for putting up.

  55. elaine

    Learned a lot in this article re good and bad expenses. Now I have to redo my budget.

  56. marlene sapalo

    Very true! Thanks for sharing.

  57. Aidan

    Hi Mark, the insight is very very remarkable because it really strikes my way of spending. I know that it should be done both by both couple to succeed. I would like to ask if there’s an e-book that I could download your articles? Particularly in “Money Management Simplified” and “Making Money run After you”.


    • markso

      Hi Aidan, thanks for asking, none at the moment. Will probably come out with one as soon as my schedule permits though.

  58. Faye Chua

    Make sense, but how about expenses like buying a TV? a car? You can sell them later, but surely at a lower price that the acquired one. Without TV, there will be a tendency to go out during holidays and spend unnecessarily.

  59. James

    Right! Ok, I’m rephrasing my last comment from part 1…it should be AND not OR. hehehe tama tama.

    Next article please! 😀

  60. aldwin daus visaya

    morning sir, i’m taking it seriously. first, i was hesitate to invest on agribusiness what i wanted to be becos of past experienced. but right now, i’ve got “balls” again to invest maximizing my available resources. pls pray for me…

  61. michael

    Good day sir Mark,
    DISCIPLINE! This is the most important factor if we want to control our bad expenses and replace them to become good expenses. Glad to note that savings /time deps are good expenses, since I have been trying hard to set aside an amount every month for the past year or so. now to lessen the eating out part.:)

  62. german mandia

    good luck to me..

  63. Yllen

    This will be a big help as I am an impulse buyer. From now on,I will practice your technique. Good luck to me Mark!

  64. Alquin Renegado

    T.hank you Lord! I really needed this, very badly

  65. Susan

    Great and excellent explanation…

  66. June

    Hi Mark,
    Thanks for confirming what I believe that we should concentrate on having extra income instead of reducing necessary expense.

  67. Andrei

    This is a really great advice… I started to apply the 10-20-70 percent lifestyle approach, which 10% percent belongs to God, 20% for my savings and investment and 70% for living expense. It is not really easy but I’m still ok, and I believe in what I am doing. This article confirms it.

    Thanks for sharing your wisdom!

  68. Ken Dela Cruz

    Keep the good assets growing and lessen the bad expenses. No excuses on doing that.


  69. marimin

    great advice! thank you.

  70. wendy

    Sir Mark,
    This is an eye oprner for me because it is our habit to dine out every Sunday. From today onwards, i just cook a good meal for the family.

    • markso

      Its okay to dine out from time to time. Everything in moderation and you’ll be fine. All the best to you Wendy

  71. Grace Lee

    I’m happy to say that i’m actually already doing some of your tips!!! 😀

  72. Aze

    Simple but attainable . Great exercises! Love it and it excites me! It’s so cool doing it. I was able to identify all my expenses. Necessary, Bad and Good.Here’s what I am going to do: Reduce the Bad expenses, Keep the Necessary expenses and Increase the Good expenses. 🙂

  73. glenda

    thanks for explaning so well on your article. what a good start to spend money wisely!

  74. tex

    Great article and a reminder! As always, thanks for this.

  75. Djoanna

    The hardest thing to do is to start… kicking back bad and old habits of spending on impulse and instant gratification.

    Thanks for the post!

  76. bheng

    i got a lot of substituting to do i think we have this habit of spending money on bad expenses so better keep moving before its too late.

  77. Manessa

    I’m glad my parents trained me on this while I’m still young. They refuse to buy me another barbie, but would buy me educational book without hesitation. Then when purchasing, they often ask, ” do you need it?”

  78. elena absalud

    Now I know how to classify expenses. My next move is to prioritize these expenses.
    Thanks so much

  79. elena absalud

    It’s now time to assess on how I could improve my income stream which is a combination of
    my main income stream and additional income stream. Well done!!!

  80. Ricky

    thats practically true hope we can apply it

  81. nieves

    Hi Mark,
    Another great article, surely if applied will make a difference to one’s life.

  82. Robert


    Expense Management through Substitution makes so much sense. I love the illustration. Genius.


  83. Joan

    Hi Mark! This is worth doing. Thanks!

  84. rey

    nice thought in disciplining your spending… whether a need or a want. time now to reduce the want or bad spending. thanks!

  85. Ron Domasig

    Practical money management. 🙂

  86. Arnold

    Hi Mark!

    I love the way you make it so simple, yet detailed, for us to easily understand what you are sharing to us.

    God bless you!

  87. Gigi

    Hi Mark, it requires a change in mindset to modify spending habits. I do appreciate your explanation on expense management. However, bad expenses are resorted to like eating out or going on a vacation as they are seen as excellent forms of relaxation. I think these type of activities may be classified as necessary if they are programmed. What do you think?

    I’m learning a lot from your articles. Thanks.

    • markso

      Relaxing through eating out or other “bad expenses” are not necessarily bad, in fact they can re-energize you and make you feel better. However if you cannot afford to do it frequently, then it is about time you learned how to substitute it with something else that helps you become wealthier. All work and no play is not good, but playing when you should be working is worse.

  88. Ruel A.

    In our present situation, there’s a lot of things that has been offered to us to improve our everyday life. Sometimes we perceived it as important, well in fact its not. Sometimes we tell it to ourselves we need it, but in reality its not. Every expenses should be weigh first before we execute the buying. If you have a second thought on something that you intend to buy, then you don’t need it. But if you don’t have a second thought, try to stroll first and find a product that offer a lower price but same quality. Every one want’s to be in, so they buy on something that they already have. Right now, we have to be more clever in our expenses.

  89. Marlito

    Great article. I think I can minimize my expenses more by using the tables. I also realize that I should not take out loans without actually needing it. I should not get a loan just because it is available for me to take and then putting it in the bank for the sake of having extra money.

  90. Nicanor

    Mark, you do make it look easy and fun! Nick

  91. Anthony D. Ang

    Your examples are very clear. Now we know where to focus. There are times that we really need to cut down our unnecessary expenses in order to turn around with great results. Thanks for the insights.

  92. Walter S. Lotilla

    Good evening Sir Mark,
    I agree with you, per experience and before I do some spending – I always ask myself, my wife, and my 2 children two things, to wit:
    1. Is it nice to have only ?
    2. Do we need it ?
    When finances were a just a little bit getting better, I was able to buy a Life Insurance in addition to our ( with my wife in the same Company ) Company’s insurance provision per CBA. I did not buy a health insurance since the Company provides the 100% medical care for employees only. My savings was via subscription to the Company’s Stock Option Plan ( where it netted us 1000% after 10 + years which subsidies our children’s educational / health expenses ).

  93. jan

    Nice article. With the “Substitution” process,you get to enjoy the usual things and still able to save without the feeling of being deprived.

  94. Kris

    very helpful piece. I have a book that teaches a similar thing but the way you presented it makes it so much easier to understand and apply. thanks

  95. Hanz Garr Torres

    To what extent to i need to nvest on myself? And can i be selective to what i need to learn, like become an inspirational public speaker with a specific field? Thanks

  96. Jess

    I totally agree to minimize the bad and increase the good expenses. This method should be agreed by the couple and educate/inform the children as well. I am really blessed to read this kind of article. This is really beneficial to the reader.

  97. buddy oberas

    Great Mark, you hit it right! I’m guilty with those previous travels -though we now minimize this learning and recharging trips as “pay off” to our hardwork. Just the same, it must be noted that , necessary and good alternative must always be exp[ored- to save and reduce expenses. More power. Bless you more

    • markso

      Traveling is fine as long as you can afford it. Sometimes splurging from time to time even if you can’t can be uplifting, the key is to be aware of it and try to replace it with better expenses. Please do keep reading Buddy. Take care

  98. Katrina Valdez

    I agree! My husband and I are better with keeping the bad expenses at minimum now that we have a baby. We are also now finding ways to increase the good expenses. It’s great to know that what we’re doing right now to increase our “wealth” is validated by this article.

  99. Jem Castro

    Hi Sir Mark,

    We did the table and listings of our bad expenses and made a substitute either for necessary and good expenses. I am excited to see how our good expenses will turn into additional take home and increase our money right now.



    Jem (Zac) Castro

  100. Yen

    You gave me hope. I always end up at the break even mark every pay day. Sad , my savings drained… I need this. Thank you… I look forward to being in control of my finances.
    Thank you Sir Mark.

  101. evelyn concepcion

    It is really educational for everybody .i willpractice this system.

  102. chel

    Thanks sir mark! From now on i will lessen my bad expenses thanks for reminding me.

  103. Jonas

    I needed this. I must reduce or eliminate my bad expenses ASAP. Thanks, Mark!

  104. Rita

    Thank you Sir Mark for sharing this with us. Wise management of finances can bring us true wealth.

  105. Elena

    What are your thoughts on my frequent travels if I can afford it? Is that still considered as a bad expense?

  106. Grace Macabingkil

    I am enjoying this!

  107. Ma. Vidia Largo

    Thank you so much mark

  108. Arturo

    Simply awesome Mark!

    How simple and I can´t believe how almost no one knows about this.

    It´s a blessing for me having known this SIMPLE and wonderful money management system.

    Thank you very much! 🙂

  109. amirah

    nice sir!. well said. i’m excited in applying these ideas in real life.

  110. Johna poot

    Dear sir,
    I am so grateful for sharing this.. It will be a big help to everyone of us, I really appreciated it and will apply it also to myself.


  111. Clint Imperial

    Fantastic. This is really a great article you wrote sir Mark. Simple and direct to the point. Blessings Sir Mark.

  112. joseph niel

    Thank you sir it really makes me think and ask myself what my priorities really are. This requires some soul searching.

  113. Jolly Justo

    Easy to follow sir Mark. 🙂

  114. Jobilee-May S. Rubio

    Npakapraktikal at hands-on kinakailangan po talaga ito sa buhay.

  115. Jobilee-May S. Rubio

    Kailangan talagang maging praktikal sa buhay dahil hindi lang nito ikaw mapapaunlad sa materyal na bagay kundi sa kaalaman sa buhay

  116. Gilbert Z. Apostol

    So true Sir fact i already started on investing on rentals.We can also enjoy some simple pleasures in life provided we continue on adding to our “cup” regularly so that our hard-earned money will grow and eventually it will work for us and not the other way around. Thanks for the very informative article! GB!


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