Tag Archives: how to grow money

Borrowing for College Tuition?

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by: Francisco Colayco

My wife, Mary Ann, was asked the following question:

Dear Mrs. Colayco

Is there any other government institution where I can borrow money for tuition fee/s of my dependent/s?

I am still paying for both my SSS and Pag-Ibig loans.

I don’t have a credit card. Please help me.

Thank you.

Thank you.

—Amy

Here’s her response:

Right now, the SSS and Pag-ibig loans that you borrowed are still outstanding. You have to keep paying those loans because SSS and Pag-ibig are very good sources of credit and you want to keep your credit reputation good.

It is good that you do not have a credit card because you will just end up having a credit card debt that has the highest interest rate among the formal debts available. Do not be tempted to get any credit card that is being offered to you. You may have temporary cash available because of the card but that is only for one month or even less. Then, you will have a lot of tears over many years of credit card problem.

Want to know more of her response? Visit Herword.com now!

Playing with Numbers

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Most people are afraid of numbers. Whenever they see one, they cannot help but be dumbfounded.

On the contrary, NUMBERS CAN BE FUN! In fact, YOU CAN EVEN PLAY WITH THEM.

Let Colayco Foundation’s Armand Bengco and Art Ladaga SHOW YOU HOW!

Armand Q. Bengco is the Executive Director of Colayco Foundation for Education.

Art Ladaga is the Programs Officer of Colayco Foundation for Education.

The Why of Working for Money

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I chanced upon this short story being shared and liked on-line…
Money is important, our work is important…but we must never forget the WHY of why we work hard for money.
SON: “Daddy, may I ask you a question?”
DAD: “Yeah sure, what is it?”
SON: “Daddy, how much do you make an hour?”
DAD: “That’s none of your business. Why do you ask such a thing?”
SON: “I just want to know. Please tell me, how much do you make an hour?”
DAD: “If you must know, I make $100 an hour.”
SON: “Oh! (With his head down).
SON: “Daddy, may I please borrow $50?”
The father was furious.
DAD: “If the only reason you asked that is so you can borrow some money to buy a silly toy or some other nonsense, then you march yourself straight to your room and go to bed. Think about why you are being so selfish. I work hard everyday for such this childish behavior.”The little boy quietly went to his room and shut the door.
The man sat down and started to get even angrier about the little boy’s questions. How dare he ask such questions only to get some money?
After about an hour or so, the man had calmed down, and started to think:
Maybe there was something he really needed to buy with that $ 50 and he really didn’t ask for money very often. The man went to the door of the little boy’s room and opened the door.

DAD: “Are you asleep, son?”

SON: “No daddy, I’m awake”.
DAD: “I’ve been thinking, maybe I was too hard on you earlier. It’s been a long day and I took out my aggravation on you. Here’s the $50 you asked for.”

The little boy sat straight up, smiling.
SON: “Oh, thank you daddy!”
Then, reaching under his pillow he pulled out some crumpled up bills. The man saw that the boy already had money, started to get angry again. The little boy slowly counted out his money, and then looked up at his father.

DAD: “Why do you want more money if you already have some?”

SON: “Because I didn’t have enough, but now I do.

“Daddy, I have $100 now. Can I buy an hour of your time? Please come home early tomorrow. I would like to have dinner with you.”
The father was crushed. He put his arms around his little son, and he begged for his forgiveness. It’s just a short reminder to all of you working so hard in life. We should not let time slip through our fingers without having spent some time with those who really matter to us, those close to our hearts. Do remember to share that $100 worth of your time with someone you love? If we die tomorrow, the company that we are working for could easily replace us in a matter of days. But the family and friends we leave behind will feel the loss for the rest of their lives. And come to think of it, we pour ourselves more into work than to our family.

Some things are more important.

The Battle Wages On!

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by: Art Ladaga

Photo courtesy of RTVM.gov.ph

Twenty-seven years ago, the Filipino people triumphed in overthrowing two decades of oppressive dictatorship. Democracy was restored not through guns, tanks, or any military arsenal, but through flowers, rosaries, and one unified desire. People Power I was proof that when people band together- known as the Power of One– they can create miracles and liberate a country from tyranny.

Twenty-seven years after People Power I, many of our countrymen remain within the shackles of financial tyrants. This is the new battle being waged: the battle for financial freedom! According to Francisco Colayco, financial freedom is when you can maintain your desired lifestyle without the need to work. Only in eradicating these three tyrants will financial freedom be realized.

 

POVERTY: Poverty is a lack of basic necessities, but it is also more than that. According to Nobel Prize laureate Amartya Sen, poverty is also capability deprivation (i.e. not being able to do anything and be productive). One reason why there’s capability deprivation is due to lack of education. Education enables us to recognize opportunities for active and passive income. Sadly, our present educational system grooms us to be hardworking employees. There will come a time that you can no longer work. You might be earning six or seven digit salaries now, but when you retire, you will not be able to maintain your lifestyle without passive income. Thus many people remain poor because they do not know how to utilize earning income actively AND passively!

FINANCIAL IGNORANCE: Having a lot of money does not guarantee financial freedom. Knowing how you use and grow it makes a significant difference in your financial life. In a recent study, Citibank reported that the country’s financial score was 53 out of 100. This means that more Filipinos are now becoming savvy in handling their finances. This is definitely good news, but we cannot be complacent.

The massive financial scam in Pagadian City (2012) was a major eye-opener to the dangers of financial ignorance. In the website of Philippine Daily Inquirer, I read about a man in Pagadian City who committed suicide three months ago. He invested all of his retirement money in an opportunity he did not fully understand. When the culprits had gotten away with his money, he experienced depression to the point he decided to end his life! If spending on seminars about money and investing is expensive, financial ignorance is 1000 times more!

GREED: If your only goal in life is having lots of money, you have a major problem! Seeking money for itself poses a real internal dilemma. The Buddha once remarked, “Greed is any imperfection that defiles the mind.” Indeed, how many lives and relationships were ruined because of financial greed? Greed entraps you in a vicious cycle of acquiring. You cannot stop gorging on money because it’s never enough. That is the delusion of it! Eventually you will reach a point that you will internally “blow up,” wrecking your life and the lives of others in the process. In the effort to obtain everything, you lose everything!

 

Photos courtesy of Pinoy Exchange.com

The battle for financial freedom is an ongoing-battle. Financial freedom for our countrymen will only be attained through eradicating the three tyrants. Defeating all three is not easy, but it’s not a hopeless cause. Learning from People Power I, only through the Power of One will these three tyrants fall. And it will be possible if all Filipinos will fight as one, under the banner of FINANCIAL LITERACY!

Financial literacy opens the doors to various earning opportunities, thus helping eradicate poverty. You also become more competent and knowledgeable in handling money, thus helping eradicate financial ignorance. And you become goal-oriented in earning money, thus helping eradicate greed. Only through learning proper financial management grounded on proper values can we expect the rise of a ONE WEALTHY NATION!

Photo courtesy of Manila Standard Today

Thus, THE BATTLE WAGES ON!

Sources:

Alipala, J., & Umel, R. (2012). Teacher kills self after losing all his money in scam. Inquirer Global Nation. Retrieved from http://globalnation.inquirer.net/56146/teacher-kills-self-after-losing-all-his-money- in-scam?ModPagespeed=noscript

Dumlao, D. C. (2013). Filipinos more savvy about finances, study shows.  Inquirer Business. Retrievedfrom http://business.inquirer.net/105779/filipinos-financial-quotient-at- record-high-online-poll-shows

*Continue the legacy of EDSA! Achieve financial freedom NOW. Colayco Foundation for Education Inc. is offering two financial seminars  this March 23: INVESTability: Stock Market and INVESTability: Mutual Funds. Just click the links for more details about the two seminars.

* Art Ladaga is the current Programs Officer of the Colayco Foundation for Education, Inc.

Women & Money

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Reminiscing events from 1 year ago and the product of a moment.

I was initially unbelieving that it was me she was calling when Suze Orman invited ”the Filipino author who is present here” to the stage during her February 25 talk (2012).

I do not know Suze Orman personally although I enjoy watching her shows.  I did not know that her friend Doris Ho, whom I also just met that morning gave her my set of books when she arrived in Manila.  After the short conversation on stage, I sent a text to our Executive Director Armand Bengco, who was at that precise time in Hong Kong talking to our KsK Multipurpose Cooperative members.  I texted him that an amazing thing just happened!  Suze Orman, Top USA Financial guru invited me to join her on stage this morning as she was giving a talk sponsored by BPI at The Fort.  Suze gave a terrific talk and it was almost unbelievable how much she cares for Filipinos and has the same line of thinking in personal financial education as I do.  Suze committed to help us educate more Filipinos and I look forward to an active collaboration with her!

Of course our excitement was and still is pitch high and this article that just reached me is a perfect way to share with you what kind of a person Suze Orman is.  I am definitely proud to have been singled out by her during that talk and I look forward to a collaboration with her on our common mission.

 

 

 

_________

FEBRUARY 25, 2013

Meeting Suze gave the push needed for a new book to come about – Easy Money Para sa Kababaihan, ang natatanging libro tungkol sa pag-hawak at pagpapalago ng pera na para sa babae!

 

 SRP Php95 – Available very soon in all leading bookstores

 

 

SUZE ORMAN GAVE FILIPINOS A MONEY TALK

Published in ENews of Asia Society

March 1, 2012

Suze Orman, America’s most trusted financial advisor, was in town last February 25 to give a talk on taking control over one’s personal financial power. Approximately 700 guests filled the NBC tent Saturday morning to attend the Bank of the Philippine Islands event and listen to the “one-woman financial advice powerhouse” as described by US Today. A two-time Emmy-Award winning television host, she was in Manila to keep a promise made to her friend Doris Magsaysay-Ho, chairwoman of Asia Society Philippines, to help and inspire Filipinos in their need for financial literacy.

 

“Hope is not a financial plan,” stated Orman who highlighted the jackpot-mentality that some Filipinos have when it comes to their money. One shouldn’t rely on the lottery and simply hope for the best or simply keep the money in your house safe and sound; you need to take control of the opportunities available when it comes to your finances.

Having been raised in an unruly neighborhood on the south side of Chicago, Orman was no stranger to poverty. She used to live in her car and waited on tables earning $400 a month for seven years until she dreamed of owning a restaurant of her own at the age of 30. Having heard her dream, one of her regular customers collected the contributions of other customers tantamount to $50,000 to lend to her for 10 years without interest. She took her money to Merrill Lynch to put in a money market account but the broker made her sign papers to make it seem like she was a sophisticated investor who was qualified to invest in stock options. Within three months, she lost the money.

Realizing she couldn’t pay back the $50,000 with her job as a waitress, she applied as a broker  at Merrill Lynch and was hired due to the affirmative action that the company had to hire women. However, her boss informed her she would be fired in 6 months.

 

Studying as a broker, she learned that it was part of law as a broker not to invest someone’s money in a way that he/she could not afford to invest it. She proceeded to sue Merrill Lynch for the bad handling of her $50,000 and because of the ongoing case, Merill Lynch could not fire her.

“Always do what is right than what is easy,” she said. The broker who lost her money was let go, her boss moved on and in 2 years she became one of Merill Lynch’s top producers and earned her $50,000 back with 18% interest.

For young people and their finances, Orman expressed the importance of saving a portion of their earnings regularly as early as possible. “The quickest way to get rich is to get rich slow.” stated Francisco Colayco, a well-known author who was brought to the stage by Orman herself. There isn’t a get-rich-quick formula to achieving one’s wealth, but wealth can be gained by saving and investing continously slowly but surely.

On the Philippines, Orman stated we shouldn’t go the way of the US where they allowed their economy to grow on credit, lending to people who could not afford to pay it back. “Build this country on cash so that it could never collapse, then you can change lives,” she said.

Orman’s talk and very first appearance in the country that day to the 700 guests and employees of BPI indeed proved to be a success. Her message has provided inspiration to those who seek to gain financial freedom.

Ang Perks ng Pagiging Single

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ni: Art Ladaga

Pebrero na naman. Para sa mga may in a relationship status sa Facebook, panahon ito ng paggunita ng pag-ibig. Tataas na naman ang presyo ng mga chocolates, flowers, at anu-ano pang binibigay kapag Valentines day. Hindi rin nawawala ang mga radio requests ng mga cheesy love songs moderno man o hindi. At bumabalik muli sa uso ang paggamit ng mga gasgas na pick-up lines!

Ang itsura ng aking mga pin buttons, ayon sa ‘king pagka-alala

Sa kasamaang palad, hindi ito ang realidad sa karamihan ng mga single.  Ibang holiday pa nga ang ipinagdiriwang nila kapag February 14. Ito ang S.A.D. o Single Awareness Day! Marami silang iniisip kung paano gunitain ito: may naglalasing, bumibili ng mga bulaklak para lang ibigay sa sarili, at nagsusuot ng anumang bagay as an expression of singlehood. Noong nag-aaral pa ako, may suot nga akong dalawang pin buttons na nagpapahayag ng pagiging miyembro ko sa Samahan ng mga Atenistang Walang Iniibig (S.A.W.I.) at sa Samahan ng mga Atenistang Palaging Umaasa Lamang (S.A.P.U.L)!

Mahirap ang buhay single. Madalas, gusto mong magwala kapag napapadaan ka sa dalawang magkasintahang nagpi-PDA o Public Display of Affection. Nagseselos ka rin kapag nakikita mong naka-post sa Facebook ang pictures ng iyong kabarkada kasama ang kanyang minamahal. At siyempre, masakit din ang hindi gumastos ng pera dahil wala kang ka-date sa February 14!

Mahirap talagang maging single, pero talaga bang kasuklam-suklam ito?  Kung iisipin mong mabuti, may benefits din kapag wala kang minamahal!

Una, hindi mo kailangang gumastos kapag February 14. Wala kang dahilan para magluwas ng pera. Sa totoo lang, puwede namang gunitain ang Valentines Day nang hindi gumagastos. Nakasanayan lang na dapat gumastos ang dalawang magkasintahan para maging “special” ang holiday. Tingnan mo nalang ito kung anu-ano ang ginagastos nila para sa isang date:

Kung single ka, hindi ka na mag-aabala sa mga gastusing iyan!

Mas madali ring mag-ipon. Mas maraming pera sa bulsa mo dahil wala kang pinaggagastusan. Mas marami ka pa ngang options kung paano gamitin ang pera mo. Halimbawa, puwede mong gawin ang emergency fund mo para may pagkukuhanan ka kung sakaling may masamang mangyari sa iyo.

At ang huli, mas madaling lalago ang pera mo. Hindi ka mahihirapang mag-invest dahil wala kang pinagkaka-abalahan. Puwede kang mag-invest sa mutual funds kung nakapag-ipon ka na ng P5,000! Maganda ang naging performance ng mutual funds kahit hindi garantisado ang kita.  Umaabot ang kita mula 10%-30% kada taon! Kung nag-iinvest ka ng P1,000 kada buwan sa loob ng 40 taon, puwedeng lumago ang pera mo ng P97,000,000!

Kita mo na? May perks sa pagiging single. Makakamit mo ang yamang nais mo kung alam mo paano palaguin ang pera mo. Sabi nga ni Francisco Colayco, “Huwag magpapahuli,” dahil maganda ang takbo ng ekonomiya ngayon. Sa halip na magmukmok ka sa tabi, sumakay ka na sa tren ng paglago! At mangyayari lang iyan kung alam mo paano palalaguin ang perang hindi mo ginastos!

*Huwag nang magpahuli sa tren ng paglago! Sumali na sa Pisobilities at INVESTability: Mutual Funds seminar sa Pebrero 16, 2013! I-click lang ang mga links para sa karagdagang mga detalye. Tumawag na sa 637-3731, 637-3741, o 09178088857 para mareserba ang inyong slot o para sa mga karagdagang katanungan!

*Si Art Ladaga ang kasalukuyang Programs Officer ng Colayco Foundation for Education, Inc.

Three Amazing Ways to Express Your Love

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It’s the first day of February! Forget the chocolates, roses, and candle-lighted dinners this Valentines Day. Here are 3 simple, effective, and cost-friendly ways to show your love to your special someone. SHARE AND SPREAD THE LOVE!

Experience LOVE AND WEALTH at the same time! Join the upcoming Pisobilities and INVESTability: Mutual Funds seminars on February 16, 2013! Click the links for more details on both seminars. For inquiries and reservations, please call 637-3731 or 637-3741!

* Art Ladaga is the current Programs Officer of Colayco Foundation.

Engaged couples

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by: Francisco J. Colayco

(Still a very relevant article considering February is fast approaching!)

December and January are the most popular months for weddings in the Philippines. This is probably because the weather is cooler. It is nice to sing “Santa, make me his bride (make her my bride) for Christmas.” It is wonderful to start the New Year with your most beloved in the entire world!

I received an email about why the wedding ring is worn on the fourth finger. We have five fingers.

– The Thumb symbolizes our parents.

– The Forefinger symbolizes our siblings.

– The Middle Finger symbolizes ourselves.

– The Ring Finger symbolizes our spouse.

– The Little Pinky symbolizes our children

Put your hands and fingers together as in prayer. Then, fold your middle fingers inward so that the outside of each knuckle touches each other. Keep the tips of the other fingers touching each other. While making sure that the middle fingers continue to be folded touching, try moving the other fingers:

– You can move your thumbs showing that your parents can leave you.

– You can move your forefingers showing that your siblings can leave you.

– You can move your pinkies showing that your children can leave you.

– But try moving your ring fingers and you can’t.

Marriage is permanent but while you are not yet married, this article might prove useful for you.

We all know that the engagement period is the time to really get to know each other before marriage. But couples who become engaged seem to think that they cannot break the engagement, if necessary. Should the couple see “substantial differences” in thinking, this period is the time to understand those differences before they become “irreconcilable differences”, which become the reason for many separations and annulments. Do not believe that you can change your partner once you are married. For most, the marriage makes the partner even more fixed in his/her ways.

So many engaged couples are embarrassed to discuss money matters before they get married. Based on my experience, if you cannot discuss financial matters with your loved one before you get married, it is almost inevitable that you will have problems related to financial matters during your married life. It is not the amount of money that you have that matters but what you intend to do with it and how you expect to manage it. You could be very lucky and have all the money you will ever need until you retire. However, nothing is sure in this world and all of that could easily be lost with wrong management of finances.

YOUR VIEWS ON MONEY

Many times, the family environment you grew in will dictate your reaction to money. One of you may be always saving or even downright stingy and the other might not care about money and may even be a spendthrift. During the courtship period, your real personalities may not be immediately obvious since you are trying to show your best side. I suggest that you tell each other frankly how you view money. Ask each other how you will view your success and the role of money in that success. If it turns out that your ideas about finances are not compatible, both of you will have a better understanding on how to accept each other for what you are or to agree on how you will both overcome the differences. There is also the option to postpone the marriage or cut the relationship if the issues are truly irreconcilable and you can see that love might not be enough, in the long run.

 
AGREE ON YOUR LIFESTYLE

Understand how much money and also how much debt each of you already have. If there is debt, you have to agree on how it will be paid. Be open about how much each of you earns and what you expect to be spending as a married couple. Do not leave the decision of what to spend on a day-to-day basis. This could lead to unnecessary misunderstandings on how much each should be spending on specific items. Having a budget will help you agree on the kind of lifestyle you should live to be able to reach certain goals. For example, you can aim to have a car within a year, a house within five years etc.

Having children is also another matter that has to be discussed in relation to finances. How you raise your children will depend on the time you will have. If both of you have to work for your chosen lifestyle, obviously, you will have to share the raising of your children with yayas or your parents.

HOW WELL DO YOU UNDERSTAND PERSONAL FINANCE

As I have seen time and again, parents and schools rarely teach personal finance. Even finance students and employees do not know how to manage their personal finances. They may be very good in their theoretical studies and in their actual jobs related to finance but that is not what personal finance is all about.
I have many friends who give my books as wedding presents. I am happy that the couple will have some guidance during their married life but it would have been better if they had been given the books before or when they became engaged. The books will help them understand how they can save and grow their savings. With these books, they can discuss and mutually agree on the type of investments they would choose both for the short-term and for the long-term. You can also join our Pera Palaguin Seminars that we hold regularly.

WHO WILL BE RESPONSIBLE FOR KEEPING THE MONEY

Even if financial wellbeing is a joint undertaking, one of you has to be responsible for:

– Staying within the agreed budgets. Informing the other when there is any possible deviation foreseen.

– Keeping track of all important documents and records such as your marriage license, passports, Income Tax Returns, insurance policies, investment certificates, etc. Decisions on Insurance, Investments and Income Tax Returns filing should always be done jointly in consultation with experts.

– Properly maintaining and balancing all bank accounts to prevent penalties and not allow cash idle without earning any interest. The matter of keeping joint or separate accounts or a combination of the two is a choice that the couple should agree to. They should be open with each other with their reasons.

Of course, these activities can move from one to the other, say one year each. This way, both of you learn and have a good understanding of your financial situation. This is especially important in case of emergencies where one is not available.

WHO WILL PAY FOR THE WEDDING

There used to be a rule where, in the Philippines, the groom’s family pays for everything and in the United States, the bride’s family pays for everything. Today, the best solution is for the couple to pay for everything. The families of both the groom and the bride can give whatever monetary gift they can afford. From the gift, the couple can decide on how much they want to spend for the wedding itself.

I always admonish couples not to spend too much on their wedding day. It is only one day and they have the rest of their life together to look forward to. The rest of their life together is definitely more important. They should not try to keep up with their friends who got married before them. Parents should respect the decision of their children.

COMMIT TO DISCUSS MONEY REGULARLY

Differences are inevitable. Work on a program of continuing discussion and communication with an open mind and sincere heart. Bring in an objective and experienced financial adviser if your differences seem to be major. This is key to your long-term financial compatibility.

LOVE OR WEALTH? WHY NOT HAVE BOTH! To know how, join Colayco Foundation’s Pisobilities and InvestABILITY: Mutual Funds seminars on February 16, 2013! Click the links below for more information about the two seminars:

Pisobilities

InvestABILITY: Mutual Funds

For reservations and inquiries, please call 637-3731/637-3741. Look for Ms. Lala!

* Article first appeared on the GMA News TV Blogsite

Basic Banking Lingos

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Are you at a loss with banking terms? Here’s a simple but fun guide to some of the words used in banking.

 Source:

Cortez, B. (2013, January 21). Know your banking terminology. Business World [Manila], p. SI8.

*Art Ladaga is the current Programs Officer of Colayco Foundation for Education

 

Parents without Money

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by: Francisco J. Colayco

I received this comment from “Boy Kamote” on a previous blog when I wrote about how we should teach our children about money.

“Sir sa mga nasabi o nabangit po ninyo ay sang ayon po ako..sa mga may kaya at panggitnang klasipikasyon na mga magulang ay maari nga nilang ipasunod sa kanilang mga anak… paano nakapagtatabi ang isang tao para sa ibang bagay kung hindi naman sasapat sa isa man lang….yun kalidad na bibilin sa palagay niyo po ba makapamili pa kung alin ang maganda at mura.matibay at may pangalan…paano magiging wise ang isang bata sa pamimili kung hindi niya nga kayang bilhin..o ang dungisin ay papasok sa isang mall nanglilimahid sa dumi at amoy siya bay papasukin hindi diba..alam ko poy kagalang galang at matalino, eh ito po lamang ay isang opinyon sa isang sabihin natin na di naman tayo pantay ng antas ng talino at pamumuhay…paano naman po ang mga magulang na ala man lang pera na maipapakitang ehemplo sa kanilang mga anak….yung mga anak na ala pa sa tamang edad ay naghahanapbuhay na para kumita. Kung ikaw na magulang ng ganun bata ano sasabihin mo pa ba o ipapaaral sa kanila ang mga sinasabi mo…baka sagutin ka ng wag mo akong pakialaman…buti sana kung sobra o sapat ang kinikita pero hindi eh salat na salat pa para sa sikmura…nakalungkot man pong isipin yan ay isang bantad na katotohanan…ano ba ang dapat na isaisip pag ikaw ay may pera para sa isang simple at mahirap na magulang…di ba’t ang mapakain mo ang iyong pamilya ng may lasa lasang pagkain…at pag sila’y nas hapag na ng kainan ang masilayan mo silang masaya habang ninanamnam ang konting biyaya na napagsasaluhan…ano ba ang pakiramdam di ba’t nakapagpagaan ng kalooban di bale ng ala kang naitabi at masasabi mo sa iyong sarili na bahala na bukas at sanay palarin na naman na makahanap ng pera para may maipangtustos sa pang araw-araw…”

Related to this same article is a comment from “Sam” who says: “The best lesson you’ll give your child is about sharing money. Command it, not money commanding you!”

Boy Kamote is right that the advice I give are really for people who are earning some money. This is my chosen advocacy because of my life experiences that I can share. It is what I know best so I choose to share this.

But more than this, my advocacy calls for the elimination of a “mindset of entitlement.” This is the attitude that makes people believe that they have the right to demand “help” from the government, their communities and their churches without having to work for it and thus deserve it. They grow up with the misplaced value that money is given, not earned.

What Sam said is also correct.

However, we can only share what we have. Otherwise, we will not be sharing anything worthwhile.

This is where I come from. We need to teach everyone about the need to earn, save, make your savings grow, and share the savings they have grown with others.

I teach that as long as we are earning some regular income, we can save.

The savings may be minimal but if we have the discipline and determination, we can aspire for greater savings over time.

After all, we have so many examples of people who rose from almost nothing into very successful people.

I agree that some people are so poor that they cannot even buy food for their children.

Such cases are very complex and there are people who choose to help in working on advocacies related to this. Let me just say that for those who have not enough, they still have their intellect and will.

Money and all things material are mere creation from ideas.

For as long as we are alive, we can think and create good things for us, provided we have the right mindset, the will to improve our lives.

I agree that it is natural that we want to be able to give the best food, shelter, clothing, and everything that our family needs.

I agree that if we have nothing, it is tempting to give them a moment of joy and forget about tomorrow.

But I don’t agree that we should give or spend without thinking of tomorrow. It is an obligation not only to provide but also to leave something for tomorrow.

“Bahala na” is the worst mindset to live by!

There are people who have risen from the poorest of the poor and made something of themselves.

If we go by the thinking of Boy Kamote, that is not possible. But it does happen so it is not just a matter of money; it is an attitude and mindset inculcated in the children.

I think that the parents or guardians of such children taught them good VALUES from the time they were small.

Values most important are respect, honesty, integrity, resourcefulness, sincerity, discipline, determination, decisiveness, sharing and others.

If my child were to reply to me in a manner like “wag mo akong pakialaman…buti sana kung sobra o sapat ang kinikita pero hindi eh salat na salat pa para sa sikmura,” I think I would consider myself a failure in teaching my child many of the said virtues.

Since Boy Kamote wrote in Tagalog, here is a Tagalog translation:

Tama si Boy Kamote na talaga namang para nga sa mga kumikita ng pera ang mga payo ko.

Ito ang pinili kong adbokasiya dahil na rin sa aking mga karanasan. Ito ang alam ko nang husto kaya’t ito ang pinili kong ibahagi.

Mas mahalaga ay ang aking adbokasiya na dapat ibasura natin ang pananaw na may utang sa atin ang ating gobiyerno at ating komunidad kung kaya dapat sila ay mag bigay ng tulong kung tayo ang may pangangailangan.

Itama natin itong pananaw na ito sa isang saloobin na ang tulong galing kaninoman ay dapat karapat-dapat sa tumatanggap.

Tumpak rin ang sinabi ni Sam.

Ngunit, maari lang nating ibahagi ang meron tayo. Kailangan nating turuan ang lahat tungkol sa pangangailangang kumita, mag-ipon, magpalago ng naipon, at magbahagi ng biyaya sa kapwa.

Lagi kong sinasabi na hangga’t kumikita tayo, maari tayong mag-ipon. Maaring maliit lamang ang ipon ngunit sa tulong ng disiplina at determinasyon, tiyak na lalago ang ipon. Sa katunayan, napakaraming tao na ang nagtagumpay bagama’t nagsimula sa wala.

Totoong may mga taong lubos ang karukhaan na kahit pagkain na lamang ay hindi nila maipagkaloob sa mga anak.

Masalimuot ang mga kasong ganito at may mga tao at ibang grupo na nagtataguyod ng mga adbokasiyang kaugnay dito.

Ngunit tandaan na bagama’t kapos sa pera, may taglay pa rin tayong karunungan at pagpapasya.

Ang pera at mga materyal na bagay ay pawang mga likha lamang ng karunungan at ideya. Hangga’t tayo’y nabubuhay, maari tayong mag-isip at lumikha ng mga bagay na ikabubuti natin, basta’t may tamang pag-iisip (mindset), at ang kagustuhan o pagpapasya (will) na paunlarin ang ating buhay.

Sumasang-ayon ako na likas lamang na maghangad ng pinakamainam na pagkain, tirahan, damit at iba pang pangangailangan para sa pamilya.

Nauunawaan ko rin na kapag tayo’y kapos, natutukso tayong piliin ang panandaliang ginhawa at kalimutan ang pangangailangan sa kinabukasan.

Ngunit hindi tayo dapat gumastos nang hindi iniisip ang ating kinabukasan. Obligasyon natin na mag-iwan para sa kinabukasan!

Wala tayong mararating kung ipinagkakatiwala ang ating kinabukasan sa “Bahala na”!

May mga taong nagtagumpay bagama’t nanggaling sa labis-labis na kahirapan.

Kung paparisan ang pag-iisip ni Boy Kamote, hindi posible ang ganitong tagumpay.

Dahil marami na ang umasenso mula sa kahirapan, masasabing hindi lamang pera ang kailangan, napakahalaga rin ng tamang pag-iisip (mindset) at pagpapasya (will) na naituro sa mga bata.

Sa tingin ko, ang mga umasenso mula sa kahirapan ay iyong mga naturuan ng tamang pagpapahalaga (values) habang sila’y bata pa. Ang mga mahahalagang maituturo sa mga bata ay ang: paggalang, katapatan, integridad, pagiging maparaan, sinseridad, disiplina, determinasyon, maagap na pagpapasya, pagbabahagi at iba pa.

Kapag sinagot ako ng aking anak ng “wag mo akong pakialaman…buti sana kung sobra o sapat ang kinikita pero hindi eh salat na salat pa para sa sikmura”, sa tingin ko’y nabigo akong ituro sa kaniya ang mga tamang pagpapahalaga.

Nais mo bang ipamana ang tunay na yaman sa inyong mga anak? Sumali na sa Money for Kids for Parents Workshop sa Pebrero 16, 2013! Tumawag na sa 637-3731 o 09178088857 para sa karagdagang detalye.

* First appeared on GMA Network website on September 22, 2009.