Are you reeling after paying up your credit cards balances, monthly rent, utility bills, cellphone bills and God knows what other bills you have to pay come 15th and 30th of each month? Do you want to shout at the top of your lungs, “SHOW ME THE MONEY!” (ala Cuba Gooding or better yet, Tom Cruise)?
Well, a lot of people are no strangers to this predicament. Approximately 70% of Filipinos live below poverty level and are sure to be living from paycheck to paycheck, taking out personal loans or even 5/6 just to make it to the next pay period. But did you know that even people who earn well have a mountain of money problems? Of course they do! Because the amount of money one earns is not a determinant of being debt free or having the peace of mind that they would have saved enough for the rainy days (which have started, but that’s for another topic).
Money management is what will determine if a person will live comfortably throughout his life or if he will have to find work even after retirement at 65.
That is the central theme of this blog, Money Whys and How-tos. I have lived 36 full years and 15 years of those I was “handling” money I earned from companies which hired me. I have had money, lost money, saved it, invested it, spent it, managed it for my husband (this I still do up to this day) and I can say I have chalked up enough experience with money to know whereof I speak… or blog about.
I have read books by Suze Orman, Rick Edelman, Robert Kiyosaki, Bo Sanchez, Rhonda Byrne, Francisco Colayco, Michael Losier, Wayne Cordeiro and others who have written anything about money… how to grow it, how to attract it, how not to lose it… I have also gone through a lot of reference materials, magazine articles, bank newsletters, websites on money, online forums and everything else that seem to offer sound advice on money or finances. So, believe me I know what I’m talking about.
I’ve read all these materials because I had a personal goal. I wanted to be “rich”. I wanted to have “a lot of money” at my disposal. Unfortunately, being “rich” or having “a lot of money” is subjective. No one can tell another person that he is already rich or has enough… or a lot of money. This is a determination one makes personally.
But that is jumping the gun. Let us leave the scholarly discourse on values for later posts. For the first few entries let me share with you some lessons I have learned on how to make the most of your money. After all, we are heavily into a recession, everyone could use a saving tip or two. So until the next post.