Blog “Save and budget first, before you invest!”

“Save and budget first, before you invest!”

A few weeks back, Marvin Germo said something like, “Save and budget first, before you invest!” And I can not agree with him more. However, as I pondered on what he said, I realized that there is a more fundamental issue that is preventing people from investing or growing their money. I believe, before one can save and budget, he or she must first be willing to work hard so that he can produce the money that he can save and budget.

Sabi sa akin ni Randell Tiongson, the millennials today are willing to quit their jobs even if they do not have other opportunities to go to. They would rather stay home and wait, until something better comes along. This was unlike our time daw (which was decades ago, hehehe). Pero feeling ko pareho lang noon. Kasi if we were better then, why were there also very little investors during our time? Why did people back then not save as well? And why was the penetration of insurance as weak as it is today? My belief is that It was because people also did not have anything to save and budget kasi many of them would also rather sit and wait than go out and work.

Many Filipinos quit working for many reasons: they either do not like their job, or their boss, or the pay, or their environment, etc. A case in point was a boy who attended our Leadership Training many years ago. He was able to attend our 2-month version because he had nothing else to do since he had not found work after he graduated 2 years back. He told me that the reason why he was unable to find work was because the opportunities that came his way did not match his credentials. Because he was a business management graduate, he expected to be hired as a manager but the job offers he got were only for clerical positions.

If only he had accepted the clerical work that was offered to him early on, then he would have already gained experience, developed his abilities, saved some money and probably even got promoted to become a manager. But for two years he decided not to work because the offers he got did not match his credentials. What was his credentials? His college diploma! Please do not let your children and the people you love take this route, teach them to love hard work because Proverbs 10:4 says, “Lazy people are soon poor; BUT hard workers get rich.” (NLT)