FINANCIAL PROBLEM PART 1

Majority of the problems are related to financial. You have no time for your family because you work so hard to earn money.

You fail to do your obligation to your spouse or children because you believe that if you provide them the basic necessities like foods, shelter, clothing, education or some luxuries in life, then, it is just alright.

You suffer a lot with your health because you work up to 12 hours but again your salary is not enough. 

You are no longer happy with your workplace but you are still working because you have no other option. Delay of single day in the release of your salary, everything will be in peril.

You occupy a high position in a corporate world and with a hefty salary. You have an excellent education with a master's and doctorate degrees but still you do not have enough money, or worst no savings at all. 

Money is not the solution to all these problems because money is just a tool.

What you need is proper financial education. It will not take four years to learn like what you had been in college.

Be financially educated.

PROPER TIME TO PREPARE FOR RETIREMENT

I observe in the government that the personnel are encouraged to attend a Retirement Planning Seminar with GSIS one year or less before the actual date they retire from the service. Usually, participants are 60 years and beyond. One year is not enough and will never be enough. 

Retirement is not a matter of age but a matter of how you prepare for it. You can retire anytime if you want.

Planning for retirement should be done as early as you enter the employment world with a time horizon of 20-40 years before the end of your service. You should invest now for your retirement. Time is your greatest ally.

How about if you are 50-55 years old? You have to act right now. Don't wait you will hit 60 years old to prepare for it.

NEED OF A LONG TERM HEALTH CARE

Last week, I accompanied my son to the ENT Specialist Doctor (Ear, Nose, Throat) in a private clinic in Consolacion, Cebu, Philippines. We were five patients. The first patient was a senior citizen about 65 years of age. After her examination, she was charged with a P3,500 consultation and medical fee. She was shocked and worried since her money was only P1,000. Next patient left the clinic upon hearing the 3,500 medical fee. I was moved with pity with the two patients. I thought to myself how about in a life threatening situation? Like heart attack or bypass operation.In reality, there is a high cost of medical needs. 

However, there are two solutions to this problem. First you have a personal emergency fund to pay the medical bills. Second, you have a health care to cover your medical needs.

Today, a Long Term Health Care is now available in the Philippines to solve this problem. Just 88/day for 7 years to pay, you will have a KAISER ULTIMATE HEALTH BUILDER, a 3 in 1 product to cater your financial needs (Long Term Health Care, Life Insurance, and Investment).

SAVINGS IS LIKE A LIFESAVER

Sometime in 2014, I cannot forget this incident. My son had no more milk to drink. I pulled out my wallet and it had only 50 pesos for my fare. I borrowed money to my friends but they refused because they also needed the money. 

I inquired my Landbank ATM card but no available balance because it was 2 days before the payday. I went to my cooperative to secure a loan but I was denied because I used all the loan windows. I got stressed where to get the money to buy milk.

Then, I remembered that I had a cooperative savings passbook in my drawer. Lo and behold, I saw an available balance of 500 pesos. I went to the coop again and withdrew the 400 pesos. 

I share this story so that you can learn from me and for you to start your savings program. 

Savings is a like a lifesaver. Someday, it will save you.

FINANCIAL EDUCATION IS THE KEY TO PROSPERITY

Congratulations my dear graduates! 

15 years ago, I feel what you feel. You are now excited to see the real world and be on your own. After my graduation, I work and have a steady job. My income is growing. But I notice that my expenses are also growing too fast. I resorted to DEBTS. I experience Loan-Payment-Loan Cycle. To the point that I cannot sleep well at night thinking of my finances. I thought that after graduation, everything was alright. But I was wrong. I was so desperate to learn about financial literacy. I read several financial books.

Finally this year, I enroll in the Financial Workshop and I learn all aspect of personal finance from debt management to growing your assets.

If I knew this money principles 15 years ago, I already earn my first million and I will be financially free today. I will no longer incur debts.

Formal education in the schools is not enough. We have to attend Financial Seminars and read personal finance books and magazines.

Be financially educated now.