Tag: personal finance

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My Guesting on ANC On the Money Show

UPDATE: I finally got a copy of the whole interview from ANC. Click here to watch it. Thank you. 🙂

Last May 23rd, I saw a comment from a certain ABS-CBN News Channel (ANC) staff on this blog post I wrote last May 6th. I also got the same message on my FB messenger. Apparently, ANC On The Money wanted me to guest on their show because of the said blog post. I initially wanted to decline the invitation as I was shy in person and I never thought I could do it. (I’m not even an RFP or someone who’s an authority on personal finance, so why me?) But the hubby convinced me otherwise. I later realized it was a once in a lifetime opportunity so I better give it a go or I’d regret it forever. Haha.

The taping of the episode where I guested in as a resource person happened on May 25th. I was presented as a blogger (of Life in Manila). I only had two days of preparation but I still did my best to answer the guide questions given to me via email on the evening of May 24th. Ngaragan lang ang peg, diba? But everything turned out just fine so thank you God and thank you to my prayer warriors (you know who you are)!!!

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The Thrill of Buying Things Using Money You Haven’t Received Yet

Some family members are still having a hard time managing their finances. As much as I would like to help them, only they can help themselves. If they will continue sabotaging their budgets and keep a maluho lifestyle, nothing in their financial life will change for the better. One of their money practices is buying things using money they haven’t received yet. Is there really a thrill from such kind of acquisition? Apparently, there is!

The idea that you can have the thing you’ve been wanting to have in advance by borrowing money from someone. The thought that you can buy the merchandise you’ve been planning to get earlier than schedule because somebody is willing to lend you money. The realization that you can get the things you want because you have some money coming soon and there are people that can lend you money right now. There’s a thrill there at some point, right?

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Zero Car Mortgage!

While working in the office last Chinese New Year, I received this photo from the hubby via Viber with a caption that said, “Happy 5th Birthday Nissen :)” (Nissen is the name of our car.) Suddenly, I felt my eyes brightened and my heart swelled with happiness. I knew it was going to be this month but the exact date eluded my memory. Fully-paid na kami sa car, yeeeeees! One major debt down, one more to go (a.k.a. our Bacoor house)!

nissen
the hubby’s FB post with the same photo he showed me on Viber
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Book Review: The Debt Squeeze, How Your Family Can Become Financially-Free by Ron Blue

Reading the book entitled “The Debt Squeeze, How Your Family Can Become Financially Free” by Ron Blue has given me new perspectives on debt. (I got a second-hand copy from Book Sale for Php10.) Who wouldn’t want to live a debt-free life, right? While debt-free living is possible, having some debts isn’t bad at all. As long as you have the means to repay your debts, you should be fine. Or so this book claims.

book

What I liked about the book was that the author presented debt in a casual way. He also explained the different kinds of debt in layman’s terms. And because he’s a Christian, he also included some verses in the bible conveying God’s words on material wealth. The author also shared some real-life finance stories, how-to-get-out-of-debt tips, borrowing rules, and other money principles. Even if most of the concepts he explained were not new to me, they have refreshed my memory on what it really takes to be debt-free and eventually, financially-free.

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On Economic Outpatient Care and Relatives Who Ask for Money Habitually

I first heard the term economic outpatient care (EOC) in the book “The Millionaire Next Door” by authors Thomas J. Stanley and William D. Danko. There’s actually an entire chapter in the book devoted to it. EOC refers to the affluent parents’ act of giving money (on a regular basis) to their adult children (who normally have jobs of their own). The authors believe that EOC tends to encourage laziness among the recipients and instill a false sense of security in them. Apparently, instead of empowering them, they are weakened by this financial practice.

I have seen and I know of working adults who continue to receive money from their well-off parents. This could be in the form of cash gift and most of the time, debt (the kind that is intentionally unpaid or forgotten to be paid). From what I have noticed, the recipients tend to use up the money on luxuries instead of growing it through savings or investments. Sad, but true.

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Dealing with Windfalls

This year is getting to be very good in terms of financial blessings. The first quarter alone saw the hubby and I receiving some unexpected incentives at work. Then, during the second quarter, our mid-year bonus arrived and a few more monetary benefits came after that.

Receiving windfalls (in our case, it’s usually from work and nothing else) is always a pleasure and a reason to give thanks. By giving thanks, I mean saying a short prayer of gratitude to the guy above and sharing the blessing (in whatever form or way we like) with our loved ones.

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