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Young Blood Investor

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YOUNG BLOOD wake up! Be inspired and inspire today’s generation.

Sa tingin niyo po saan ninyo malimit ginugugol ang inyong oras? Marahil karamihan sa atin ay nakalaan ang atensiyon sa mga hindi gaanong importanteng bagay. Ilan sa atin ang makapagsasabing may kabulohan sa buhay natin ang paborito nating gawin araw-araw ngunit sa katunayan may mga mas importanteng bagay pala tayong nakakaligtaan.

We tend to overlook the importance of time due to poor time management.

Most likely because we are bombarded with so many things we are distracted and often can’t decide well what to do. Sumasabay tayo sa ihip ng hangin ika nga. We’re easily swayed like a dried leaf blown by the wind where it goes and falls without definite direction in life.

The youths of the 21st century have been invaded by the culture of technological addiction. Computer games, social media, text messaging, and cyber talk, these to name a few, have influenced them a lot. Lets say your Wifi connection at home is cut off, who do you think will be the first one to complain? I’m pretty sure not your grandma or grandpa but the younger ones at your home! Tell me if it’s right?

I’m already in my late 20’s and I still complain whenever our net connectivity is poor! The more funny thing is…

Ang mga iba kahit hindi na mag-umagahan o maghapunan basta kaharap ang computer okay na! Feeling nila busog na sila.

Well, as I belong to the younger age I can’t deny that I’m also hooked up with my computer, smartphone and tablet almost everyday like many of you. Sometimes, I’m no longer aware of the clock at home. In the past I devoted most of my time to online gaming and social networking especially in my elementary and high school years.

Online gaming for me was more important than my studies. Weekends and breaks in-between classes, I was with my “barkada/friends” at the computer cafes. Oftentimes, we go home 9 in the evening the latest. Way back then my 15pesos was enough to hire a desktop for an hour of gaming. Imagine I played for about 6hours a day! Sum up my expenses it would amount to 90 pesos a day…

…That was 14 years ago! Do the math, 14 years x 365 days = 5,110 days x 6 hours/day = 30,600 hours x 15 pesos = 459,900 pesos spent in front of a once addictive virtual online gaming and 1,275 days or almost 3 1/2 years lost time which I could have invaluably spent with my family! Gush, this is a huge mistake in the past that I could have avoided but didn’t!

In real life there are no U-turns so don’t ever drive carelessly!

I regretted but I can’t turn back time! The clock doesn’t turn counter clockwise in real life. As the old saying goes, you can’t cry over a spilled milk!

Only after some years did I realize I lost many chances to be productive. Naging “happy go lucky” ako. Siguro playful lang talaga ako noon dahil sa aking murang edad. Pero hindi eh kasi si Warren Buffet nakapag-invest na nong 11 years old pa lamang siya. He was making money through selling newspapers, golf balls, and stamps. Ang bata noh? Ngunit kinaya niya!

Now, my eyes are opened and I became more serious to see opportunities from the internet instead of being glued on wasteful activities. Sa halip na sayangin ko ang panahon ko sa paglalaro ng hindi makabuluhang bagay at pagpo-post ng kung ano-ano sa FB wall ko minabuti kong maging artistic at productive.

Time is priceless. If you don’t use it wisely you will end up in regrets.

To be honest, hanggang ngayon addictive ako sa social media. Do you share the feeling na parang wala nang bukas while you browse facebook, twitter, and instagram? Hay, buti nalang wala nang Friendster. But I utilize these now with a lot better purpose and goal. Hindi na sa online gaming ha! Just recently I created a personal blog sites at Grow Your Peso in Facebook and Grow Your Peso with GeeCee in Google, so that I can be productive myself. Layunin kong hikayatin ang mga kapwa ko Filipino, lalo na ang mga kabataan na minsan naging kagaya ko rin na simulan ang pagi-invest sa Stock Market habang maaga pa. I will explain and simplify Stock Investment in my upcoming blogs. So, keep an eye on my future posts.

Opportunities only knock once. Give it a try while it is there.

Grow Your Peso was inspired by Bo Sanchez, a catholic lay preacher, writer, and entrepreneur whose Maid Invests in the Stock Market and now a millionaire (click the link and download this inspiring easy-read book that has changed my life)! Marahil sa iyong pananaw ay hindi ka maniniwala ngunit totoong-totoo! Akalain mo isang kasambahay nag-iinvest sa stock market. Ikaw pa kaya!

Bo Sanchez is also the founder of TrulyRichClub (click the link and you’ll be directed to an awe-inspiring short video on why I joined this amazing club). This club has been teaching me and my wife so much about investing in the stock market. Yes, a lot!.. and it’s been a fulfilling and rewarding journey with them. Learning their stock investment strategy called SAM (Strategic Averaging Method) or PCA (Peso Cost Averaging). This is a method where we buy shares/stocks in small amounts regardless of the market’s performance, little by little on a regular basis,  from great companies with proven track record which we believe can still exist in the next generations to come. I will also expound this topic in my next blog.

Tama ang kasabihan “Time is gold and time is money”. Sabi ko sa sarili ko ngayon, why only now I’ve learned and still trying to learn how to invest. Sana noong bata pa ako sinimulan ko nang mag-invest. Si Warren Buffett nga, self-made billionaire ngayon nagumpisang mag-invest when he was only 11 years old!

Do you know that time can be your worst enemy when it comes to investing? Kung alam nating gamitin ang oras upang tayo’y matuto, maibahagi ang ating kaalaman sa ating kapwa, at makatulong ng ibang tao bakit hindi natin simulang i-diskubre ang ating natatagong talento sa larangan ng teknolohiya.

Past mistakes can pave the way to a successfully rewarding meaningful life of tomorrow’s dreams if only we seriously pay attention today.

We don’t want to repeat the same mistakes over and over again! After you have read this blog and it somehow gave a little spark of change in you, CONGRATULATIONS! To those of you out there however, who continue on with their happy-go-lucky routine, maybe IT’S NOT YET YOUR TIME to take this road less traveled by.

YOUNG BLOOD wake up! Be inspired and inspire today’s generation.

Your personal stories, comments, and questions are all welcome below.

I hope you learned something today. If you have some questions please feel free to reach me at my Facebook page Grow Your Peso, my Google blog site Grow Your Peso with GeeCee and/or email me at growyourpeso@yahoo.com

Thanks for your time and may your wishes of wealth come true!

MONEY SMART

Huwag Namang Masyadong Magtipid (Don’t Be So Frugal)

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You know the feeling of you very eager to maximize your income generating assets that you really make ways to meet your investment goal? When you become addicted to investing you try to do whatever you can to keep it going. The most practical approach to this is no other than being frugal. Cutting back your daily expenses in exchange of building a fund for your assets is the most practical and realistic way. Since you’re so eager to make this happen, you do start to sacrifice many of your leisure activities, cosmetics, travel, and food. So instead of vacationing once a year, you now do it once in every couple of years. Instead of going to the cinemas on weekends, you already have decided to watch once a month. Instead of dining out almost every day, you now changed the habit to only once weekly. And you also have given up going to an expensive beauty parlor almost every month, instead you are no longer conscious of how you look outside but on how you are good inside.

One day, I read from an online news Stuff in New Zealand about a British woman who managed to save 39K NZD (Php1,365,000) in 2016. She gave up her spending habits on wants in a year for bare necessities alone. She and her husband spent $60/week on food. They didn’t buy new clothes, didn’t travel, bicycled to work, didn’t go to the pub, restaurants, and movie house, and didn’t go to coffee shops. I was shocked to learn they were able to spend only $60/week for food. While me and my wife had managed to cutback our expenses on food from $220/week to $150/week by giving up liquor, wine, soft drinks, junk food, ice cream, ready made pizza, and chocolates in the list. All unhealthy food out of our grocery list! Our dine outs and coffee outs from $90/week down to $30/week. And we’ve also cutback $200 worth of shopping plus totally scraped $48 lotto tickets too. We no longer get-away for leisure which was costing us around $120 petrol a month. These have saved us an extra $888/month (Php31,080). Wow, amazing savings! A big chunk of this now goes to buying assets like stocks and mutual funds.

Cutting back on wants is very helpful in maximizing our asset column as long as it doesn’t endanger our livelihood. Other than that, we don’t have a plan to decrease our food allowance like those of the British couple’s, because we don’t simply want to jeopardize our health. I mean, it’s easy to follow their way perhaps on buying sausages and canned goods, but we don’t want to die young of ill-health. It is said that a healthy lifestyle is expensive. I would still believe in the saying, health is wealth. I’d rather choose health above wealth as first priority. I don’t want our health as a couple to deteriorate quickly because we are eating unhealthy food in exchange of money. We don’t want to be so frugal in terms of what goes inside our body as it may cost us our health in the long run and die young. Even though we have health and life insurance, prevention is still better than cure.

How about you, have you been cutting back your expenses lately on food by being very frugal? Check this out yourself by looking at the contents in your fridge and kitchen shelves. You may be unconsciously jeopardizing your health for a long time of being so frugal. Don’t also forget that it is not bad to give in to your desires for leisure, travel, cosmetics, and shopping once in a while. Be a wise spender and saver yourself, above all, a growing investor. For that, you are in the right track. Keep on going and doing what you’ve started and you’ll see the result in the future.

Daily Inspiration

7 Signs of a Successful Retiree

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Reaping today the harvest of the past. You know very well that this is the most awaited season for you to reap an abundant harvest. If you are someone who did not postpone for many tomorrows the attitude of saving and investing, surely your net worth has reached a sizable amount of fortune more than enough to cover an over-comfortable living expenses for yourself and your family today. You have planted and nurtured your wealth for so long, now is the perfect time to rejoice in full swing!

Enjoying your retirement years on things you could have afforded in the past but had chosen not to in preparation for you and your family’s future. You are now taking lightly all the bills you have to pay since you are confident you will not run out of money to settle them. Your only problem is to withdraw your bills payment from your retirement fund and from the profits your investments generate every day. In a lifelong discipline on wants versus needs at last all paid off!

Treating yourself, your entire family, and your grandchildren for a long holiday cruise in the Bahamas or in any part of the world. Your time is no longer limited because you now have complete freedom without the need to file a holiday leave from your boss. You are now your own boss by owning and operating your businesses.

Independence from the orders and commands of your employer. You are now in full control of your self with a guaranteed absolute independence from being tied with your job. You are no longer bound by time waking up as early as 5 in the morning and coming home from work as late as 6 in the evening. You are free to landscape your beautiful garden any time you want, play with your grandchildren in their spare time, sip a coffee or tea under a sunny morning at the porch while you turn the pages of the newspaper lingering for so long on the business section, attending churches gatherings and social functions, and walking at the park while you and your spouse hold hands together. I am pretty sure you can imagine more and more leisure moments you can unlimitedly have!

Raising awareness on the importance of financial literacy so that people with lacking knowledge in managing their finances would also have the chance to experience a massively rewarding life you are enjoying today. You begin to love making different means to disseminate a testimonial of a rich mindset to the public by blogging, advertising through social media, organizing seminars and talks, and writing books you think would help so many people trapped in a poor financial perspective. Don’t be selfish to share your knowledge of achieving your success!

Enriching the less fortunate ones in your place by doing charitable works as a way for you to thank the One above who made you the person you are today. There are so many poor people who do not have complete access to healthcare, education, and basic needs; be an agent to uplift their sufferings utilizing your wealth and resources as a form of thanksgiving of all the blessings you have received. Always have a heart of gratitude!

Exemplifying down-to-earth attitude to every one you meet regardless of their financial status in life. Never brag your wealth and success because when you die you will not be able to take these with you. You will only need a small piece of land and concrete to lay you at rest. Exemplify in humility every actions you take and any decisions you make. In so doing you will be remembered forever. Be humble all the time!

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INBESTMEANT

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I remember vividly when in College Seminary my professor in Logic used to say, in order to turn something into your expertise you have to devote your entire self to it. The problem nowadays is, we are bombarded with too much information. Our passion for one thing is distracted by humongous information around us from misleading to truthful ones. We are lost and confused of what particular area we are really interested about. Just look at the internet, google anything you want to know and there you have it instantly from nasty to good information. Take Facebook for example, which I love to call as the queen of all social media, in which we find so many countless different information in our newsfeed. We click here and there, watch here and there, read here and there, post here and there about anything without consciously knowing that we are already procrastinating. Honestly, Facebook is so influential that in many instances I do forget to do my blog, read a book, and research about the subject Investment. While being glued in my Facebook newsfeed I would tell myself to do more important tasks later until I find myself not doing them in the end.

My question to you is, have you been serious in devoting your self, time, energy, and resources in just one thing? Don’t easily give in to distractions around you, otherwise you will gonna waste a lot of time. On my part, I have found out lately that investment is my one thing. The subject investment is so broad, often we believe and follow the voice of the crowd in the market. They create noises telling us to follow this and not the other. Don’t ever quickly believe the herd. Do our own research, involve our deepest self into it, for it’s the only way to learn and master the art of investment. I’m afraid we will not be able to cover all notes and teachings of successful investors in time immemorial up to our deathbed. This is true and we have to accept it. We will never become as rich as Bill Gates or Warren Buffett. We can’t exactly imitate their success. But by immersing our interest and desire IN it, doing and learning their way step-by-step, we will be able to master our self in becoming a successful investor in our own unique way. Get IN-to-it, the world of investment, and make it a significant part of our lives every day, so we will think and act like investors ourselves. After all, the only way to learn is to get ourselves totally involved into something that interests us.

I love the saying, repetition is the mother of all skill. What if we’ve been doing our BEST to be the best investor in the whole wide world and yet we’ve not mastered the skills on investing after so many trials and errors we’ve gone through? Let’s ask ourself, in what area of our life we think we can be the BEST? Perhaps, there is a different kind of investment we have to take. We may be unaware of the fact that we have been nurturing our BEAST instead of our BEST. When I say beast it’s the enemy to our passion. It might be that we are better at other areas like dancing, singing, acting, farming, office work, writing, speaking, or anything we can think of. Let’s develop these skills as they are sort of investments too. Utilize them to make us the best person the world can ever have. So now let’s try to start re-aligning our focus to that particular aspect in our life which we feel would bring out the best in us. Build on it and feed it. Make it our every day companion in that we too will grow, flourish, and excel in that field of expertise.

Did you once fall in love with someone who doesn’t like you, that no matter how much you like that person to be your partner for life, it doesn’t just happen? In life, there are moments we are surprised in loving so dearly that thing we have hated so much before. I hated numbers myself because I dreaded the subject Mathematics. Not to mention of course our terror math teacher before. Later on I realized that investing in equities is dealing with the game of numbers with which I have fallen in love. The thing is, today we may be stuck for so many years into something making us more weak than strong. This is just a sign that that something is not MEANT for us. Learn to let go of the things not MEANT for us because there is much better opportunity that await us. Let’s not force our energies and time into it for it will only discharge and exhaust us with so much effort until everything will seem like crashing in our sight.

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OFW Broke For Good?

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As OFWs, we get to choose between two options while in abroad working up to the sweat of our brow. Let’s face it, deeply ingrained in every Filipino is the culture of Support System, it’s providing financial assistance to the families we have left in the Philippines. Most often than not, this system applies to our extended families as well as to our relatives. Given that this support system has always been a part of us, we can’t help but to continuously do it though we are hard up in budgeting our income. If we refuse to follow this system we may be branded as ungrateful and harsh by turning our back to them. The famous quotation from our national hero Jose Rizal goes, “Ang taong hindi marunong lumingon sa kanyang pinanggalingan ay hindi makakarating sa kanyang paroroonan”. Which is true, so whether by human instinct or not, we have to send money home regularly to show we haven’t forgotten them.

Now, since it’s our obligation to help them, we need to take the initiative to devise a plan that is favorable to our financial growth, because we just can’t put ourselves as second priority. No, we have to be the first ones to benefit from the money we make. What if a famine erupts, we lose our job, we get sick, or we encounter an accident, who will support our financial needs? Thus, it is necessary to think of practical ways which will help us to adjust to this unavoidable system instead of our families adjusting to it.

Firstly, let’s check our expenditures abroad and so with the family we support. How often do we eat out, buy gadgets and appliances, buy our clothes, and take vacation? Have we been spending beyond our means splurging on things that do not really matter? Cutting back our expenses and placing them to an investment vehicle will give peace to our minds when the time comes that we need money for ourselves especially in our old age. Surely, it’ll be impossible for us to call out for financial help from our families who mainly rely on us. Maybe, they can give us emotional support and can take care of us physically, but when this happens to us unprepared, money will also stop coming in because we cease to be an OFW from which our one and only income is generated.

Secondly, why don’t we set aside a fund for them to start a small business at home. I’m sure they will be keen on it since it will help provide for them a steady income for livelihood. Unless we choose to train them to be lazy by just opening their hands to receive remittances from us they will not learn to be productive. I don’t mean that after encouraging them to put up a business and manage it themselves we no longer send them money. That’s not what we are aiming at. Through them having a business we can be assured of financial security not only for them but also for us so that when the time comes we decide to return home for good, there is a business we look forward to.

Lastly, our fate is on our hands, by choosing to be wise on our expenses we have the assurance of something in store for us in the future, but by doing nothing to give in to this so called Support System till job do us part we are sure to go home broke for good.

Daily Inspiration

Dream Gigantic Dreams!

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dreams-3You are what you create your self to be. Dreams are so powerful. They can create us and attract our future. Have you tried dreaming of something you had been thinking about all day? Many times it happened to me that after viewing a horror film at bedtime I would end up having a nightmare. There were also chances when after watching action packed movies I would start to dream being a hero myself chasing after a villain and fighting to save the whole village from chaos.

What do you dream your self often about? Our thoughts can create good and bad dreams. Negative thoughts attract bad dreams and positive thoughts attract good dreams. Do you believe that the way you dream your future today will most likely be the kind of tomorrow you will have? Because our thoughts shape the person that we are. That’s why we are responsible in creating our future. Our future is our very own not others’! The thoughts we feed our minds with will likely be who we will become. The kind of dreams we dream today shape the kind of future we have. If we always dream to be a mediocre and an average class in the pyramid of human survival then we will not be able to surpass poverty. Yet if every day we dream living in a mansion, traveling the world, retiring a multi-millionaire, becoming a philanthropist like any other rich person can do then we need to start dreaming gigantic dreams today by not stopping until we reach these possible dreams which for so many people are impossible.

Let’s know our dreams. What do we want ourselves to be? The ancient philosopher Socrates once said, “Know Thyself”. It is very important to know our self first before dreaming our future, otherwise we get lost along the way as we might be dreaming something which is not really for us. We have to make our dreams compatible with our talents, those things we love to do. It is by knowing who we are and where we are good at can actually make our dreams come true.

Let’s learn to fantasize our dreams by dreaming big dreams and dreaming tall. When I say Dreaming Big it means we have to fill ourselves with rarely sought ambitions that only few ordinary persons seek. When I say Dreaming Tall it means we have to imitate the rich with the way they see things and act as they do.

Let’s work for our dreams to happen. No matter what it takes, even though chasing it is boring and hard, let’s still work our way through. Quitters lose while dreamers win. Let’s make it happen like there is no more tomorrow!

Let’s claim our dreams. Let’s write big dreams we wish to achieve. Give ourselves time each day to visit our notes by constantly repeating them that they may come true in the perfect time. This is one way for us to be clear of the dreams we wish to claim.

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The Cash Out System

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In a world where money is the gauge of almost everything we purchase comes the inattention of every centavo we spend. The money that comes and go from our pockets have already become an ordinary process of spending, so often we don’t care anymore whether the products we buy and services we pay for are really important or not. Well, spending is very necessary to attend to our daily needs like food, water, clothing, shelter, power, medicines, transportation, communication, and education, but sometimes we have the tendency to go beyond splurging on things we can live without which results to overspending. For me, overspending is when greater amount of money going out than coming in.

Somehow we have lost in us the tradition of being frugal. Often we think our future is already secured and will be taken cared of by our pension plans and other benefits. We are imprisoned by the lure of a super commercialized world where spending is deeply ingrained in our consciousness. We don’t like the idea of saving and investing because we don’t want to appear “poor” to people around us. If I dress up with ordinary clothes, eat at cheap restaurants, don’t go to 1st class beauty parlor, don’t go shopping and don’t drive a brand new car, what would others say and think of me! Our mentality is that if we don’t spend we don’t live a good life, the more we spend the richer we appear to the public, and the richer we are the happier we become in a highly commercialized world.

How I wish we were born an accountant or fund managers ourselves so we can at least take note of every single detail of our expenses and keep record of it on a regular basis. However, even though we were not born like them we were taught mathematics in school. We at least know the rudiments of addition, subtraction, division, and multiplication. It only means we also have the talent in us to manage our money so that we don’t end up into the trap of overspending.

Why do we overspend? There are a lot of factors triggering our overspending tendency. First is we don’t read books that would inspire and help us to manage our hard earned money because we find it too boring and scholar. What most people read are suspense, romance, comedy, and science fiction books which are indeed more entertaining ones. I was fond of novels about love and it was the only book I bought at the bookstore. In fact I have a mini-library at home from choices of Nicholas Sparks to Paulo Coelho! Now, I have read books on shaping my finances, I’m currently finishing the Rich Dad Poor Dad authored by Robert Kiyosaki.
Second, we don’t take time to write down our spending limits for the whole month. It is strongly advisable to know up to what extent is the buying capacity of our monthly earnings, otherwise nothing will be left on the plate. Make it a habit to compute our average daily spending, record and compare expenses from previous months so that we know where our money is going, where and when to cut spending.
Third, we aren’t making a list of the things we purchase as basic commodities especially in buying our groceries since this is what we do on a very regular basis. Going to the market or shopping stores without a list to buy will make us freely pick up whatever we feel buying from the shelves, once we are in the cashier we’ll be surprised of the total cost we are to pay, well, we are obliged to pay anyway. My advice is to bring along with you a mini-calculator or use your cellphone to track how much are already in your cart in case you are already beyond your spending limit.

At the end of the day, factors affecting our overspending habit mainly revolve around our personal attitude on money management. The environment we were shaped in when it comes to spending is more likely what we will become. If we were taught when to pause and stop on a moment where spending is too much then we will grow frugal and wise, but if we used to see our family and friends going through the red lights even when spending is too much then we will waste and splurge on anything we want. Let’s not allow our money to manage us, let’s manage it ourselves because there is no other person who knows the ins-and-outs of our money better than OUR SELF.

I wish you happiness and contentment all your life!

Daily Inspiration

A Quick Guide To Ward Off Investment Stress

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For us online stock investors, it’s been months since the market is down caused by twists and turns of the economy. This is the second time around that I experience all stocks in my portfolio are bloody red! In a positive note, our financial analysts in the Truly Rich Club  foresees this trend to extend for 4-6 more months. Great great low prices of undervalued stocks this time of the year still extends through the early months of 2017, yippee!!! A very good news for us investors! Many are saying, the market is crashing, so they panic and begin to have sleepless nights thinking if they will sell or hold. Those calm investors like us however, are like passengers in a plane landing safely and smoothly to enjoy a long vacation in the Gold Coast! Weren’t going to crash!

life-is-waiting-for-you-to-smile

Today, I’m going to share with you 3 simple steps to muster so that your worries and fears of losing your investment recede for your own comfort.

NO.1… Avoid looking at your online portfolio every hour and every day.

As much as possible, find some activities that will help you forget you are losing money in the stocks. Reading self-help books, comics, magazines will further enhance a positive outlook in life. Going and hanging out with your family or friends will help provide encouragement and support when you are down. Find productive means for you to earn, at least to cover some of your loses in stocks through blogging, writing, selling products, etc., something that would earn you a passive income in the coming years.

You being glued all day on your paper loses will just increase your worries and fears which is not healthy for you and your family. I suggest you visit your portfolio once or twice monthly.

NO.2… Seek advice and guidance from your successful mentors who are seasoned investors.

If you are new to investing, don’t follow your emotions influenced by negative forces around you. Maybe, you have read a lot of comments on blog sites or online groups in social media about selling their stocks because of paper loss, out of this you start selling too. Don’t rely on them, otherwise you become victim of a herd-mentality! The best thing you can do is THINK with the seasoned investors. It is important to KNOW first before you ACT and not to FEEL first before ACTING. A great example of this mantra is Peter Lynch who once said “Invest in what you know”.

NO.3… Don’t rush or else you will crash!

The moral story of the Rabbit and the Turtle is applicable on this last tip. The turtle managed to finish the race through advancing little by little to the finish line without resting and quitting. On the other hand, the rabbit rested for so long because it knew the turtle was too slow and it would win the race. It turned out that the turtle won because the rabbit forgot to wake from its deep slumber.

Moral lesson is, it is easy to sell your stocks at a loss so that you won’t feel the painstaking job of waiting for the market to recover. However, you forgot that in the future, if you keep holding on with it for a much longer time, it will grow and profit at a very good rate.

I hope you have learned a lesson today. Happy investing to all of us!!!

Daily Inspiration

Are You Prepared???

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Savings or Debts?

How much money left in your savings account? Lets say you suddenly became unable to work today and in the coming months, how long will you be able to survive? Do you have enough to cover your living expenses?

Millions of employees nowadays are hooked up with the emotion of greed. Oftentimes, the question of how much money can I make from this job is more relevant than asking what can I learn from earning. I was also an employee and I know almost every day is a spending time. Typing on my iMac now is already costing me cents of a dollar which I need to pay when the electric bill arrives.

My dad used to tell me not to count the chicks when the eggs have not yet hatched. Before I landed my first job ever, greed was already enticing me, telling me to spend on this and that. Lots of things to buy came rushing in my thoughts! I easily gave in to my emotion giving no room to my thoughts. Not even the thought of saving came to mind. A month I did not let pass after having been hired, I went to the electronics shop, applied for a mobile phone loan in a seven month-term, and was quickly approved. Within just a couple of weeks, again I applied for another loan for leisure, and it was favored. You’ll be surprised of what came next. Few months later, this time, I applied for resignation, after having found that my work environment was no longer healthy for me and my girlfriend. Nothing left in my bank account to pay for my debt and to cover my basic needs. Geez! My girlfriend ended up paying for MY loans! Would you imagine if she wasn’t there for me at the time, I could have borrowed money from friends while in debts. Terrible!

What is the point of telling you one of my spending and debt experiences? Our job is frankly a short term solution to a lifelong problem. Earning is short term, spending for our basic needs is forever. Debts slow down our capacity to build our savings for any unplanned events in our life. My wife (my then girlfriend) and I made it a habit to set aside an Emergency Fund (money reserved to cover costs of unplanned expenses like replacing a busted light at home, fixing leaks from the ceiling, family member getting sick, replacing our SUV’s worn out tyre, and many more), this is six months worth your daily expenses. This has helped us both, at least to avoid stress thinking how to produce the money the soonest we need it the most.

Bottom line is, the self-entanglement from too much greed is the biggest problem humanity is dealing with up to today. Nobody could escape from this because it’s our natural tendency to be greedy. Nevertheless, I and you can say NO to it whenever it comes haunting us. We can suspend it by not giving in to our desire of worldly pleasures hastily and indecisively. Why not instead of spending on so many wants, spend only on needs. I know it’s hard but if we can, you can!

It is therefore very crucial to manage our emotion by not allowing it to prevail over our thoughts. We do have to think deep and act smart! In my early twenties, I’m glad I begun learning from my own experience of greed. After all is said and done, there is no other solution to spending more and more as if there is no more tomorrow than learning from our own experiences. Experience is still the best teacher of all times.