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Whatever investment instrument you choose to invest into, it doesn't matter. What matter is learning as much as possible about it. Like in my case, I want to master stocks, bonds, real estate, gold/silver, etc. that's why even if I know things about it, I still do everything to learn and will not stop learning.
are some people confusing being rich or having a lot of money as having a high quality of life? magkaiba iyong dalawa.
one can have a high quality of life yet not having huge sums of money and owning properties.
mahal ang mga bilihin + mababang pasweldo = kahirapan
There are two main problems with getting rich: #1 - poor money management, #2 - lack of income. Kahit gaano pa kalaki ang kita mo pero maluho ka naman at sobrang magastos, maghihirap ka pa rin. But it is also true na kahit gaano ka kagaling sa pagbudget at binibili mo lang ang talagang kailangan pero maliit naman ang kita mo, hindi ka rin yayaman. These twin problems will require twin solutions: #1 - find ways to earn more and #2 - learn proper money management. Easier said than done!
If you want to learn more about practical money management, visit www.pinoysmartsavers.com.
ALVIN T. TABANAG, RFP
First of all, I would like to say that I respect you as I have seen your name as well in some investment circles I've been into. I was actually thinking of being an RFP myself before. But I changed my mind.
I don't disagree with the fact that most Pinoys have a problem with their income. But what I was pointing out is that, it's not the proximate cause as to why Pinoys are poor.
Pinoys are poor (in some cases rich) because of themselves and no other reason besides that. That's the proximate cause. The proximate cause to all problems in this world is because of ourselves - global warming, poverty, government officials, etc. It's us to blame for those things.
Pinoys are poor because of themselves. You say they have a problem with income? Yes, that's true. Employment is not the only thing that provides income. Yan ang problem. They stick to employment eventhough employment doesn't want them in some cases there is a job pero sila naman ang may ayaw dito. I just wrote a blog about it in my personal site. You can read more about it at http://daveaguila.com/hip/?p=87.
If there's no employment, ang marami tatambay na lang, which is not a good thing. There's still one way to earn money and that's by being an entrepreneur. Dito everyone who applies is accepted. Walang narereject. Dito kahit sa halagang P100.00 they can start to earn. Which leads to another problem, proper money management. Walang problema sa trabaho. Andami nyan. Mapili lang ang Pinoy.
I don't believe there's a shortage in jobs. Yes, employment shortage probably, but not "jobs" per se. Entrepreneurship is a job. And again, no one is rejected here. It's us who rejects the mere idea of it. It's the 2.9 Million jobless Pinoys who rejects it. Kaya ako nagtataka... Why they reject it? To some, it's because they think mahal ang maging entrepreneur, mahirap, etc. But how will they know it if they don't do it? Yung pinipili na lang tumambay kesa alamin kung pano kumita via entrepreneurship.
If Pinoys will not be hard headed and will not be suplado sa concept of entrepreneurship, walang jobless. Sub problems lang ang no income and lack of proper money management. The main problem is US. Matigas ang ulo natin. Ayaw natin makinig.
I teach income management and financial abundance. And the hardest part in teaching is that there's nobody to teach dahil if you go to the traditional way of marketing this, people will just ignore it. Kelangan kaladakarin ang Pinoy para umattend sa ganitong mga seminars. Kelangan kidnapin para lang mapilitan pakinggan. They will not willingly go. Ang nakakatawa, kapag malapit na sila sa finish line tsaka sila magmamadaling matuto which is already too late. In solving poverty, there is such a thing as "Huli na ang lahat." So to those people who want to learn, you can visit my site at www.daveaguila.com and contact me.
More power to you Alvin and to every Juan else!
With the middle class Pinoy, they work for the needs and few modest wants. Wants like eating once or twice a week in Chowking or other restaurants, watching movies once a month. Or enjoying life after providing the basic needs. The average middle class in other countries basically enjoy the same wants after their needs are covered. The difference is that the earnings and its purchasing power of an average Pinoy middle class is lesser compared to other abundant countries, where their middle class can cover their needs, indulge for ample wants (buying gadgets once or every 2 months, car every 7 years from their own pocket) and would still be left with cash available for savings. They manage their financials considering the basic needs, budget when to buy their wants and budget their savings too and invest some on a quarterly or even on a monthly basis. That is why many Pinoys opted to work abroad for some of these reasons. The Pinoy dream is sometime hard to the middle class, what more to the ‘maraming Pilipino’.
Now if a Pinoy is rich and still ‘hindi yumayaman’. Then you’re right. He probably have financial management problem.
I also don’t prefer working overtime or more shift if working 8 hrs. is enough. Or looking for another job or looking for more business opportunities. It’s like you’re working for money, not the other way around. This results to an imbalance lifestyle and not enjoying a little from life.
I believe you didn't read my entire response and your quote of my post is not complete. Later I'll post the sentences you missed out to quote.
First of all let me clear out that we're talking about the majority.
Now, going back to your post... You say that these Pinoys don't have anything else to manage because they already spent their money in basic necessities. Hmmm... I refuse to believe that. That's another reason by the majority as they are not aware that they do have little money to invest. A lot of these people are spending on cigarettes and liquors everyday. I know, some of my friends live in Pasay and I see their neighbors puffing cigars and drinking liquors every single day which conservatively amounts to around P17.00 per day or around P500.00 per month or P6,000.00 per year.
Imagine, they have more or less P6,000.00 per year that could have been "properly managed" and could have been P492,839.00 in 20 years if he just saved P6,000.00 per year (for 10 years) and invested it in a Mutual Fund that earns an average of 15% per annum (an assumption). The daily cigars and liquors could have been P492K+ if he didn't spent it on those unnecessary expenses. Those are not "basic" needs. As a matter of fact, those are not even needs but rather wants. So now, you tell me, do they have a problem with managing their money or none? Reasons and alibis will always be there my friend. If ayaw, maraming dahilan. If gusto, maraming paraan.
The middle-class that you're referring to are no different to the poor people as they have more excess money than the poor but still are not able to grow it. Why? Their unnecessary expenses follow and it's in line with their income. The higher their income, the higher their unnecessary expenses. Take for example, most call center agents. Almost daily din kung uminom sa mga "day bars". Again, that boils down to misuse of income.
But then again, sige let's assume na nauubos talaga ang pera at wala talagang natitira dahil nauubos sa "basic needs" for poor people and some wants for middle-class (kunwari naniniwala ako), I did say that if kulang ang income, then dagdagan ang income. That you forget to include when you quoted me. There are a lot of ways to earn extra income without compromising your current job. Thus this "extra income" should be used to make yourself financially successful at hindi to increase your unneccessary spending pero ang iba ang daming extra income pero wala pa din naisusubi. Why? Again, money management ang problema.
Bakit ba may problema sa money management? Kasi may problema sa tao. Ilang beses ng inaalok ng mga tulad ko to learn more about income management pero pinipilosopo pa at kinukutya. So bottomline, money management is not the "proximate cause" of the problem and low income is not the "proximate cause" as well... But rather, the proximate cause is US. We don't learn how to address those two problems. You also forgot to include this when you quoted me.
Whatever your status in life, be it poor, middle-class or rich, the reason as to why someone will be poor because he/she doesn't learn more about income management and financial abundance.
Nobody "prefer" to do extra work for money but you don't have a choice. If you wish to become financially successful in the future, then even if you don't prefer having extra work via higher employment or business/sidelines, then you really will become financially miserable. No question about that.
It's better to enjoy life without thinking about money instead of enjoying life na putol-putol dahil you're having problems with money. It's still balanced my friend. Learn income management and financial abundance as early as possible, work and apply your learnings, then retire on your preferred time as you already have the capacity to retire and enjoy life. It's balanced.
I hope instead of you getting mad of my response to you, you treat it as a lesson. If you don't want to, then okay lang. If you wish to stay with your current mindset about why most peole are poor, then okay lang sa akin. Again, to those people who wish to learn more about income managment and financial abundance, I'm here to help you guys. Poverty is 99% because of US and no one else.
More power to every Juan!
Last edited by the_advocate; Jul 7, 2008 at 08:54 PM.
Wooahh…my friend, nobody is getting mad here. Maybe some misinterpretation on your part, previous content doesn’t implied in anyway or mention about madness. Only a sick mind experience madness….hehehe
Anyway we cannot change the habits of your friends’ neighbours whom probably are puffing cigars by the minute and drinking liquors everyday. These does not fall to any needs. I accept drinking liquors occasionally but not that as consistent as what you’ve mentioned. And that falls under vices which just abuses the physical and psychological well being of a person. But as had been said, they are not the ‘maraming Pilipino’ which we categorized. They are the anomalies and I agree, have problems not only financially but with their integrity. The same goes for call center agents splurging their incomes for day bars.
So for the sake of argument, let us consider and isolate the ‘maraming Pilipino’ as poor without vices and disregard your example above. Let’s assume that instead because he’s not into puffing and drinking, he have P17 spare daily. But with that amount, because his needs were NOT SUFFICIENTLY MET, he will use it to buy additional rice or just for a change roasted whole chicken from his usual dried fish or canned sardines. Now let’s assume further that he/she is single employed in a suburb, rural or not in NCR or earning somewhere with no vices and quantify his/her needs.
Salary or earnings per day 250 (after tax or other deductions)
No. of days per month x 30
Total earnings per month 7,500
Daily Needed Expenses:
Rice P40/kilo (1 kilo per day) 40
Viand P25 x 3 meals 75
Transportation-P8.00 (2 rides per way and back) 32
Other monthly needed expenses:
Drinking water 150
For personal hygiene (toothpaste, shampoo/conditioner, cotton buds/balls, etc.) 350
Electricity and water 400
Others (rent, repairs, etc.) 500
Total Needed expenses 7,310
Monthly Wanted expenses:
Now tell me, what else do you think on the above quantification is left for savings forget about investing. Note that these expenses are estimated to its minimum without again the puffing and the drinking, purely work and residence scenario. What more if you incur a little more on the needed expenses? What’s left for emergency, for sharing with parents and relatives a little? More importantly, what’s left for your own self to enjoy or just relax for awhile from the arduous, monotonous daily work? Again tell me my friend, if you can live with the above earnings while incurring those expenses, forget again savings and investments. Furthermore, what if you’ve got your own family to tend to. Children to feed, to dress, to educate and to shelter. Neither am I defending or compromising those individuals with such present predicaments. No alibis either here my friend. Only plain hard facts. Maybe you can search further statistics on this, read more on the present ordinary Pinoy status or just ask your neighborhood. Or get out from the hole and check the rural areas and urban jungle.
There definitely is no problem then with low or high income. It is the low purchasing power that is derived from that income. I agree to incur for a few wants or treat yourself from time to time is reasonable. But not to splurge on too expensive stuff or spend daily on vices where income could have been saved.
I beg to disagree as well working extra jobs or shifts, where instead you will have a balanced lifestyle and simple living. You can spend quality time with your family, friends and yourself. But the ‘maraming Filipino’ have few choices to succeed in this dysfunctionally forsaken country, but to overwork on a legal way, for some illegally. Individually, especially Filipinos, we know how to diskarte, to be happy from all the dark tides against us. We can flexibly manage our tight income, what more if we earn or are compensated enough. In the end, having enough on that state, only our acute judgment, wisdom and experiences will help us to save more and invest wisely.
I believe I'm not saying that you're mad. I'm saying you "might" be mad as some people might during a discussion.
We cannot tell which of the poor people with vices and poor people without vices are the majority. I believed you already got my point on the prior.
Now let's go to the latter. Again, I've said that if there's no more room for savings, there are still "other things" to do to have one. Like having a sideline or also known as business. The income derived from those sidelines (if not just one) should be the one to use for the things you said and for savings and investment.
Now you told me in your previous post that, you don't prefer to have another job for whatever reason you may have. That's fine. But for the poor without vices they only have 2 choices - continue to have zero savings by not having sidelines or have more savings to be invested by having sidelines.
There will always be poor people. Whether we like it or not. They are who they are because it's their choice. They choose not to engage themselves in sidelines which can provide them with money for emergency funds, etc. and savings that they could invest to grow more.
And telling all sorts of "mahirap", etc. to reason out not to have sidelines are plain reasons. Yes of course, they have the choice not to have sidelines pero they don't have the right to complain that life is hard. Because it's the life they chose by not having a sideline. There's no excuse in being poor. You may not be able to choose to be born rich. But to die rich, that's nobody's fault but the person himself.
Don't defend those people who choose not to have sidelines for any reason they may have. They have the power to have more money. They just opt not to do it for again, whatever reason they may have. This is the reason why the world will never run out of poor people. It's because a lot of poor people have vices and there are a lot of poor people who don't have vices but don't prefer having a sideline to have more money as well (and yet they have the nerve to complain about life).
The argument here is that IF these poor people want to have savings they could have it. By exerting some efforts. Di pwede na ilalaglag lang grasya sa kanila.
You think Pilipinas lang ang "dysfunctional" na bansa? Kahit USA may poor. Kahit Japan may poor. Kahit saan lupalop sa bansa may poor. It's not an isolated case. It's a world wide disease. Why? Because some of these people don't stop their vices and some of them don't exert effort to earn more. Earning more doesn't only mean jobs/shifts in employment. An additional 2-4 hours per day is enough to earn extra. It's not big of a deal.
Anyway, if you believe that having sideline to have savings for investment for their retirement where they can no longer work for money but still needs money is BS (not your exact word but sounds like it) then be it. You're cutting out hope for every Pinoy by proudly shouting that having a sideline is BS.
Don't blame poverty because of the low purchasing power of your money. Poverty is because of us. Because of every individual.
To Crisar: Pahabol lang my friend. If you cannot sacrifice 2-4 hours of your day to earn extra income (which is not a huge cut in your family hours) to have savings because you want to spend time with your family (which is nothing wrong), then I don't need a crystal ball to tell you that by the time you retire (meaning stop from working either by choice or by force), you won't have the money not to enjoy life but even at least to survive life. That's the consequence for not sacrificing. Don't expect money support from you kids as it's not their responsibility to do it. It's the parent's responsibility to support their kids and their responsibility to support themselves by the time they retire. Retirement is basically like having kids. Yun nga lang this time, ikaw yung kid na sinusuportahan mo.
Kawawa naman yung mga no-vices poor sayo, you're saying na wala na talaga silang pag-asa to live the good life dahil wala na eh, walang mase-save eh. Period.
For having sidelines, everybody have a choice. Regarding income management, it is quite basic. People who have no vices are managing their income daily to met their expenses and what would be left till the next payday. If a person have enough, as had been mentioned before, it is INCOME - SAVINGS = EXPENSES. But for some, that's hard to apply, the formula INCOME - EXPENSES = SAVINGS comes to apply. After having enough savings, it is here the need to learn should be more, the need to plan and contemplate what business to engage with. Well, we are still young. Maybe 15 more years working (overtime or not), we can be successful, we can retire early and enjoy the great things in life. CHEERS!!!
To Crisar: Thanks for the wonderful exchange of posts. More power!
To Giovanni: It's actually just a presented opportunity by my father. I've invested 200k. I'm just an investor and my father's partner is in charge with the over-all operations of the canteen. We have I believe more than 30+ canteens. Only one agreement for all as our partner has the right for all canteens.
well..sana man lang ma educate ang mga middle class on handling their finances para naman yumaman sila in the future!!!
OT: please excuse me but i like you to take a look at this thread http://www.pinoyexchange.com/forums/...2#post27401102
marami sa atin sumisueldo o kumikita ng malaki pero konti o walang savings coz of high lifestyle. well, there's nothing wrong with that you're just enjoying life. i've been like that also. but if we can just take a portion of what we earn and put into something that it could grow for your future. wouldn't you do it?