The Ultimate Financial Advice for Pinoys in 2018

The Philippines has still a long way to go with regards to financial literacy and education. So I came up with this simple financial advice article for Pinoys in 2018.

In my previous speaking engagements as well as recent collaborations and guest appearances in local podcasts, I am always asked to give some form of financial advice. What followed was one of the most important pieces of advice I have recorded and is applicable to almost all my community, but definitely towards young people across the world between 20–30 years old.

Conduct Self-awareness
This is the first and most important advice of them all. Look yourself in the mirror and ask, what do I want to do every day for the rest of my life? Identify your strengths and passions.

Why is this important? At the end of the day, all that we do is for our own happiness and also of those around us. Happiness is the ultimate ROI.

So, you want to make money and achieve “Financial Freedom”. What does that even mean? If you want to be a millionaire, it means you want to buy something. Simple as that. Don’t sugarcoat or romanticize it. The first step to change is to become aware of your own bull-crap. Ask yourself these hard questions:
• Will buying that dream car make me happy? Or am I just posing? Do I really need a car?
• Will buying that big house with extra rooms that you won’t use make me happy?
• Am I doing and pursuing these things because of the fear of other people’s opinions or judgment?

The pursuit of money won’t lead you to happiness. It’s the thing that you enjoy doing and the freedom to do you forever - that’s something not being talked about in our society today!

Perspective and Gratitude are everything
People tend to believe that money and finance has everything to do with numbers and logic and little to do with feelings and emotions. In fact, personal finance is more personal than you think.

Here’s some perspective. Do you know how lucky you are to be born as a human? You could be a plant or an animal. The perspectives you choose can either create or destroy your possibilities! You either dwell on your misfortunes or you see it as things that make you better.
• You didn’t finish college or your parents forced you to take another course? You can always go back!
• So, you failed at business? You can still get a job and maybe try again in the future!!
• Are you sad that you were not born with a silver spoon? You have grit, adversity and more life experiences. You were not handed down things but you earned everything you have. And lastly, do you know the odds of being born a human? It is 400 Trillion to 1.

Being a millionaire and living a happy healthy life are two completely different things. I think it's important that people define their own definition of what is to be wealthy and not let a certain number define what they believe will achieve them happiness. If you are unable to be happy without money, do you think you will be once you have a lot of it?

Gratitude can affect one’s spending in a big way. I don’t know what your situation is in life, but I want you to be grateful. If you always look at what you lack in life, you will always feel that you don’t have enough. Instead, try to always look at what you have in life – then you will see that you always have a lot more than meets the eye!

There’s so much to be thankful for. So, dare to be grateful.

Action
Are you disappointed that there’s no mind-bending financial advice or hack here? Well, there’s no such thing and if there is, it’s too good to be true. All the financial advice or hacks in the world are useless without putting them to action. We live in the information age. You can google or find on youtube all the how-to’s (invest, edit videos and so on). It’s just that most of us are not willing to put it some effort.

Let’s start with the basics. Set a goal. Then put a number (or a cost) on it. It magically becomes closer to reality since you now know how much effort or the amount you need to make it happen. The secret? Action.

Do. Do. Do. Do. Do!

Patience is still a virtue
What’s the rush? Why are you in a hurry to be rich? Like are you trying to prove to yourself, to your siblings, parents, or to the world? Who are you trying to prove that you’re successful to, or that this was the right call, or you’re gonna make it?

Your friends or extended family members achievements have nothing to do with you. You have your own timeline and pace. Be patient with yourself and don’t beat yourself up. Don’t hold yourself accountable to arbitrary bullshit fantasies. What is important is your own happiness.

Every second you spend thinking about what somebody else has is taking away from time that you could create something for yourself.

Prime your Mind
Our minds are so powerful that they can either make or break us. First and foremost, you need to stop caring about what other people think and have and realize that you are in control. Stop yourself from dwelling that you’re not there and hoping that’s something’s gonna happen.

Second, habits are more powerful than knowledge and help build self-discipline. Realize that the real forces keeping you from reaching your objective are within you. There are a million reasons not to do things. But habits make things easier to do. Start with ‘priming’ your mind that you can do it and just persevere in repeating it until it becomes a habit.

Lastly, don't feel bad for making decisions that upset other people. You're not responsible for their happiness, you're responsible for yours.

You Only Live Once. Choose happiness. Start doing something towards achieving your goals and dreams or regret it for the rest of your life.

The Financial Part
Financial Literacy and Investments are also important, but don't forget that these are just tools that will help you in your pursuit of that goal, that dream and ultimately whatever makes you happy!

Expectations – Reality = Happiness

What do you think? Let me know your thoughts! And if you liked it, share this with your friends or family!

—
If you like this post, please do share it on social media like Facebook, Twitter or any other site that you like (of course with a credit link back to this blog post).

Also, don’t forget to follow me on Facebook, Spotify or Anchor.fm (for the Podcast), and Instagram for more updates and random stuff about me and this blog.