Are you Afraid of Becoming Rich?
Dwell more on success rather than the failures you have in your life.
I have seen a lot of families doing these cultural traits a number of times. I wonder if they unconsciously do it or if they are mere frustrations.
Lack of hope is a trait that we usually see in our culture. Have you ever wondered why we always associate the Philippines with the bahay kubo and maya, the small bird? And how, in Filipino movies, the poor is always at the losing end but eventually comes out as the bida? With this mind-set, the majority who watch get the feeling it is better to be poor because. Our school curriculum is usually about being an employee and less about being an entrepreneur. This is what I can say:
Let us hope big and dream big, because that is, the reason we have a bigger brain than most other living creatures in this world, that is for us to be hopeful and be imaginative about what we want to become.
Dwell more on success rather than the failures you have in your life.
Pressured responsibilities, a common Filipino trait. This is a serious problem we have in our society. I call this the sandwich problem. In most Filipino families, it is common that parents (upon their retirement stage) would ask financial support from their children who already have a growing family with kids to take care of. Now, let me ask you, who is now the sandwich?
It’s a pity to think that we have this kind of family chain in our society. If this problem is not addressed, it will be passed on to the next generation. I have a client who wanted to prepare for his retirement. I asked him before letting him proceed with the investment his main or core reason for and early retirement. His answer was he did not want to be a burden to his kids when he gets old. He does not want them to worry about him. I was shocked! I said to myself, this is a man who knows the meaning of love and responsibility. Let us use love as the core reason in planning for ourselves and for our family’s future.
Poor self-confidence. I have learned from some of the books of Brian Tracy that self-confidence is the result of fear and failure. Fear comes from the different incidents of one’s life and failure comes from unsuccessful events that are difficult for us to take. I believe personally that for us to have self-confidence we need to humble ourselves and have a strong relationship with God, and believe He has a greater plan for us in this life. What I usually do is I affirm to myself every day these words: “I believe something wonderful will happen to me today.” Try it and trust fully that something wonderful will happen. At the end of the day, try to look back and always find the good that happened to you.
Low IQ in personal finance. This is the reason I am doing this, sharing my knowledge and wisdom about personal finance with everyone who have read this, for them to have a deeper understanding why managing our finances is very important. There is a saying in business, “Do not invest on things that you don’t know.” Learning more about money should be everyone’s goal. Financial planning is not just for people who graduate from college, but for all of us who love our families. Planning is a way of showing your love for your family, of building a legacy for them and breaking the sandwich chain in our society. I believe we can all do it and I have no doubt about it. Always take advantage of seminars and books that cross you way because the greatest resource we have are our minds. See yourself as a growing stock that everybody would like to invest in. Be like a company that continues to grow. That means you let yourself grow the moment you invest in learning. Keep on learning, because opportunity will come only to those who have planted their seeds beforehand, and luck is when preparedness meets opportunity. Be prepared all the time!
Serge Bargayo is registered financial planner of RFP Philippines from Cebu City.
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