BARATak: Chronicles of Kunat ep.2
22 October 2007Four to Forgo
“Grabe, sobra s’yang insecure..di ko alam kung bakit..” It’s bad enough being socially inept, intellectually bankrupt and possessing a muscle-depleted physique. Let’s try not to get ourselves in any more trouble by being Financially Insecure. Last week, I promised to delve further into the four common causes of this phenomenon.
1) Not controlling or understanding your own expenses
If you are earning a gazillion pesos every month, but spending PhP1.5 gz (that’s short for gazillion, you peasants!), you’re definitely headed for financial breakdown. Have you bothered to investigate where your money is spent? Most people don’t even bother to take a second look at the big ticket items they throw their cash at. At which time you’ll immediately holler, “What?? And give up my luxurious lifestyle? Gago ba ako?” Ah eh, oo..gago ka na nga, insecure pa.
2) Forgetting to save
Soon after reigning in our expenses, most of us for whatever reason, refuse to stash some of it away for a rainy day. We should focus on saving a portion of what we earn every month, and plough it into sound, safe investments. It’s very satisfying to watch your investments grow, much like watching your children grow up, minus the diapers, crying, milk preparation, happy meals, and emotional strain — especially since interest compounds without any extra effort from you. I’ve often heard the adage, “don’t work for money, let your money work for you.” Now if I can only get that to apply to my children, I’d be a contented cow.
3) Making “utang”
Some forms of debt are forgivable. Taking out a loan for education (whether yours or your kids) or to start a business seems reasonable Not everyone has the cash to buy a car or a house outright either. However, credit card ‘utang’ will keep you from any semblance of security, especially if you don’t pay them in full, and on time. When you have ‘utang’, those that loaned you money have you in chains. I wouldn’t want to be in constant fear of being sued, having my car repossessed, or my house foreclosed. I’d have to work my ass off because I have to pay back my debt, bringing us to the last sad predicament…
4) Working just to pay the bills
“Money for nothing, and the chicks for free..” How we all wish we could have that lifestyle that Sting/Dire Straits chanted about. But alas, all of us have to make a living to pay for ..well…our living. Many of us are stuck at jobs we don’t enjoy because we gotta pay them bills. If we quit working, in a matter of months, it’s the poorhouse for most of us…
BUT you CAN survive for months without a change in your lifestyle, so long as you are free of utang, keep your expenses in check, and are committed to increasing your savings (that will eventually mature into investments) on a monthly basis. There’s also the extra freedom to leave a job you don’t like and take your time finding a new one, preferably one that is more psychologically and economically fulfilling.
Related Posts You May Wanna Read Too
3)utang. how does that differ if one makes hulugan payment for a car?