Growing up, I always heard the saying “education is the key to a better life”. With big dreams of financial independence, I dedicated myself to my education, believing that it would be enough to open doors to a successful future. However, after completing my degree, I was faced with a harsh reality – the job market was not what I had expected. For years, I struggled to make ends meet and my dreams of financial freedom slowly faded away. It wasn’t until I looked back on my journey and experiences that I realized the true key to success is not just education, but also financial literacy. I have seen many professionals who appear successful and well-off on the outside, yet are struggling with hidden debts. It became clear to me that even having a high-paying job does not guarantee success if one does not know how to manage their money effectively. This realization has led me to focus on improving my financial literacy and understanding the importance of proper money management.
In the Philippines, life can be financially challenging due to various factors. However, one of the top reasons, I believe, that contribute to this difficulty is the lack of better-paying jobs. In the past, job opportunities were limited, and even those who were employed often received low wages. This has improved with the emergence of online jobs and gigs, but it is still a struggle for many Filipinos to find well-paying employment. In addition to this, Filipinos also have a toxic attitude towards money that further complicates their financial situation. One of the observations I have made is the dependency mindset, where all family members rely on one person to provide for them. This creates a burden on the breadwinner and makes it difficult for them to save or invest for their own future.
Another common behavior is the pride and status symbol syndrome, where people buy expensive things they cannot afford in an attempt to project a wealthy image. Additionally, there is a love for freebies, and when someone starts a business, instead of supporting them, friends and family members would often joke and ask for free products or services. These negative attitudes towards money can make it even harder for individuals to improve their financial situation.
In my mid 30s, I stumbled upon a program that focused on teaching financial literacy. Prior to this, I had never really paid much attention to my finances and how to properly manage them. However, this program opened my eyes to the importance of money and how crucial it is to use it wisely. I couldn’t help but think that if only I had learned these lessons earlier, perhaps I would have achieved financial success by now.
The program emphasized the steps to financial freedom, which included getting a healthcare or HMO planto protect savings in case of health challenges, securing life insurancefor the well-being of my family in case of my sudden passing, minimizing or eliminating debt to avoid financial stress, building an emergency fundas a safety net for unexpected financial setbacks, and investing in businesses or properties to increase cash flow. Although I felt like it was a little late for me to start implementing these steps as I already had a family, I reminded myself that it’s better late than never. The program not only taught me practical strategies for managing my money but also helped me develop the right mindset when it comes to finances. It made me realize the importance of being financially literate and taking control of my financial future. With the right knowledge and mindset, I am confident that I can achieve financial success and secure a stable future for myself and my loved ones.
In conclusion, Success is not merely measured by degrees and titles, but rather the ability to make sound financial decisions and cultivate positive relationship with money. A degree may open doors, but it is our financial knowledge and mindset that will ultimately lead us to our desired level of success.
