Sunday, May 13, 2012

En Route to Better Days

Slashed my two cards. Inspired from a good friend's blog entry.
I come from a poor family. Tracing my roots, I never heard any stories of my mama or papa being part of a well-off circle. True to the adage, “tell me who your friends are…” their friends as of the same income bracket. All that I know is that my papa used to be an OFW in Kingdom of Saudi Arabia for a decade. Through his earnings and my mom’s ability to manage their finances, my parents were able to invest on a farmland – now our mango farm, buy a house and a lot – now contested by the Araneta’s Carmel Development Incorporated (story found here) and was able to finance my college. I say we’re poor, because we always struggle until all meets end. Despite my parents investments on our farm and their sidelines at home, fact still remains, we don’t have consistent flowing income. I don’t want to dig in anymore to my sad stories like commuting to PUP Sta. Mesa just with 50 bucks daily allowance, or surviving 4 years of college just with one pair of jeans, 5 t-shirts and a sandal. Times were really tough during those days. Though it is still tough, my story now is of different leverage.

Education really prepared me. Beyond the textbooks and my professor’s lecture, I learned through meeting people. I learned the introduction to corporate calisthenics during my OJT in the Senate and DFA. I learned by listening to old people. I kept in mind their wisdom.  

As I started earning money, things changed for me and my family. I became an instant bread-winner. I sent my sister to college; my wallet has suddenly been a source of fund for us. Don’t get me wrong. I am not complaining. I love helping out my family. It was just fair for me to provide, after my parents have helped me become who I want to be and for supporting me for any endeavors I’d like to pursue. For me, it’s automatic. They never have to ask. I will give. 

To tell you the truth, I had perpetual finances issue in my life. Only until recently. 

When my income started to increase after being a risk-taker (and successful with that) in my BPO career, that’s when it all started.  I started having credit cards and purchased some loans just to sustain whatever it is I never carefully planned of, say, luxuries. Funny thing, I can never quantify which goes where, or simply which goes as to be useful until now. I was never a wise-spender, obviously. 

It dawned on me few years back that debts can really wreck havoc my future. I started to read and study. I started to get curious. However, I never did change my way of life. I know stuff, but I never do anything. But when life started to tap me (metaphorically, of course), I started to plan out my life. My bad state of affairs during being unemployed really propelled me to start writing down my action plans. 

One person that really helped me in this ordeal is Nimmy. 

Nimmy being the smartest I know in terms of handling finances, have been my source of inspiration. I share what I learn from the books (credits to sir Robert Kiyosaki author of Rich Dad Poor Dad), and he shares what he learns from his current job. It was a couple’s synergy. Nimmy works in the biggest and brightest banks of the land and strategically, he also works in asset management, the field where I can get the most of intel. More than the knowledge Nimmy can provide, is the fact that his family has well kept values in the financial acumen. The value of saving has been tremendously passed over to him, which is the same value we share now in our relationship. 

Now that my finances are back to normal, (thanks to being employed, and being more financial mature), I let Nimmy do the finance tactics for a better increase in yield. We were not wrong with the plan. I have him manage all my earnings, and for me to say the least - just keep being frugal. Bottom line, as couples, we need to be transparent all the time. I can say we’re successful. 

I’m happy to write that as of May 9, two of my three major credit cards have been cut off. If not for Nimmy, and his foresight, this could not have been realized. We plan to carry out this plan for the next 6 months and expect results. However we surprised ourselves in just 2 months! The other credit card that I have is just to take care of my car's gasoline.

Well, I’d like to put on a record that the lesson here is not to have a smart boyfriend. It could have been easier. It’s a plus, but not a requirement. Financial intelligence is just one aspect. I guess what’s paramount is the fact that I decided, I planned, and I act. In so doing, it did help me more having a partner who talks the same language. 

Knowing I’m in a financial distress is one thing, doing something about it is another.  Having someone to help out is just perfect. 

Ok, ok. I know I can’t be a savings expert. But in my experience, I really learned that money after all is not the problem. What do you think? Well your guess is as good as mine. 

So I come from a poor family. But that doesn’t hinder me from not aspiring for better and comfortable life. All it takes is the drive to learn and take action, and the propensity to control one self.  I probably read this somewhere, “Luck is what happens when preparation meets opportunity…” I can relate totally. 

Always take the time to prepare. Don’t be afraid to learn. Take risk. Like so many people, they failed. I do too and I will still fail some more. But I learned from them. I may have failed and left me impecunious, but  in the end, I become smarter. It fueled my desire to achieve, not only for myself, but also for my family, for Nimmy. 

"I can do anything, I believe I can do..." -Stin Hansen, Motivational Self-Talk

28 comments:

  1. I'll keep these words in mind. Thank you for sharing.

    ReplyDelete
    Replies
    1. You're welcome! :) Thanks for reading.

      Delete
  2. i can relate being poor kasi naluha mo sa first part of your post except sana kasing talino mo rin ako to write like this.

    God bless you.

    ReplyDelete
    Replies
    1. Wow, I think I read somewhere sa blog mo ung mga pinagdaanan mo rin nung bata ka pa. We're survivors in our own ways, and I'm sure we are on a better place right now because of being triumphant to life's small battles.

      Delete
  3. naku mare para ka namang speaker sa mga financial achuchuchu hehehe

    hay ako nga till now nagbabayad pa ng credit card kaloka. kaya pangako ko tama na ang isang card, mababaon lang sa utang as in!

    great post mare. madaming matutunan.

    ReplyDelete
    Replies
    1. Hahaha! I-video blog ko kaya ung mga kuda-kuda kong ganito mare no? Nakakapraning siguro. Tama yan, just keep one. Kung pwede ngang wala na, mas mabuti pa.

      Delete
  4. I almost forgote na tumatanda na ako at kailangan ko ng isecure ang future ko. after reading this, i swear I cancelled my 2 major credit cards. i ven cancelled my so called trip na sobrang gastos. thanks dito

    ReplyDelete
    Replies
    1. Awesome Bino!!! Pero sayang naman ung cancelled trip. Baka mabawi naman ng finances mo. :) See you soon!

      Delete
  5. Well I came from a poor family as well, but somehow I lack the skills in saving. At my age I still use my father's credit card and still asks for allowance despite juggling two jobs. But there's a whole 'nother story behind it.
    .
    .
    Anyway, I always blame the industry I'm in for all the expenses I have to shoulder. Nakakahiya nga kasi Ilocano pa naman ako but the virtue of "pagiging kuripot" was never bestowed on me. Haha. But thankfully, I learned something from what you've said. I'll try my best to at least make pact with it. :)

    ReplyDelete
  6. yeah! Leo, cut all those credit cards. i say, even the one you intend to keep just to pay for gas. Credit card = debt.

    you can always use a debit card for gasoline.

    ReplyDelete
    Replies
    1. Our joint account doesn't have a VISA logo, so debit card is out of the picture. Nonetheless, I'd like to keep the card and have it at zero balance before it gets charged of finance fee. :)

      Delete
  7. this is great, thanks for sharing....,
    at an early, at this moment, I have so many goals in life, and of course, gusto kong maging financial stable, because of all my plans, I'm eager to put this plans into action para mareach ko lahat ng goals ko,hindi lang luho pati yung future ko...,

    and one thing i learned during my Junior year in college, is to never ever get a credit card..... kase masmasarap na walang hinahabol ang bangko sa yo

    :)

    ReplyDelete
    Replies
    1. keep the fire burning theo! just keep your eye on the target, and you'll be successful. :)

      Delete
  8. Ako, i never use credit cards. takot ako sa utang. I believe that I ought to spend what I have at hand. Congrats! Good Job Leo and glad to know you two are finding solutions to those hardships together. :D Recently andaming bloggers na nagcucut ng credit cards nila ah. which is good. Congrats to your financial freedom!

    ReplyDelete
    Replies
    1. Eh kasi mayaman ka naman Ronron. Hehe! :) Thanks for the comment! Sana tuloy tuloy na ang pagyaman namin ni Nimmy. We want to retire rich. :)

      Delete
  9. Wise decision on getting rid of your credit cards..

    I don't use one myself.. im ok with one debit card and spending with whatever amount of money i have on hand..

    ReplyDelete
  10. napahamak ako dahil sa CC na yan kaya i'm stuck in here...buti nalang nakarecover na ako. :)

    ReplyDelete
  11. Ginupit ko na din ang credit card ko dati and now, meron na naman akong binabayaran :) Meron talagang mga struggle sa life na minsan, kailangan ng tulong ng credit card. pero siyempre, un kailangan lang! :)

    nice post leo. I'm still a risk taker and yan naman lahat ng goals naten, maging financially stable :)

    ReplyDelete
  12. Mayaman lang ang meron niyan... LOL

    Ako meron kaso hindi ko naman ginagamit kasi takot akong hindi makapagbayad... Haha!

    ReplyDelete
  13. Ang galing! Thanks for sharing! I can't wait to cut my credit cards into pieces na rin! Haha. Sana this year! :)

    ReplyDelete
  14. I think I need this. Hahaha.. Now that I'm jobless. Thanks Leo. Ni hao ma!

    ReplyDelete
  15. buti wala akong credit card lol

    ReplyDelete
  16. Mahirap magkaron ng credit card! ahaha

    ReplyDelete
  17. I had my two cards cut off too. Source of my sleepless nights before. :)

    I learned a lot from this entry.

    ReplyDelete
  18. thanks for sharing. may napulot akong aral sayo.

    seriously, inspired ako sa post na ito, salamat.

    no matter what happen, just keep faith and we'll succeed ^__^

    ReplyDelete

Comments Are Always Welcome! :)