My Story to Financial Literacy

It has been my dream to share my learning and experiences in financial literacy which are the results of my endless readings on different books, listening to my mentors, making research and doing practical application on investing. I have seen many Filipinos like my family, friends, office mates, managers and businessmen who have big income but after a few days it ran out like there was a storm or global financial crisis happened overnight! I am also a victim of this. I graduated in college with a degree in Bachelor of Science in Electronics and Communication Engineering (BSECE) and I have no idea on how to handle my money. In my mind I just want to spend it and buy things I did not have before. So, for 3 long years I never studied about the basics of investing; words like Insurance, Bonds, Mutual Fund, UITF, and Stock Market were alien to me.

This is my massage to you, Pay Yourself First! This is my big failure 3 years ago. I had the wrong idea of paying myself first. I thought it was by obtaining stuff for myself; buying the latest gadget, shoes, jeans, shirt and eating in expensive restaurants. My mentality was I should have this or that. Hey! Don't get me wrong here. It's okay to buy the things that you want but don't forget to Pay Yourself First. This means that you should save a portion of your income. Experts say that 20% x Monthly Income must be set aside for savings. I also believe in tithing that's why I give the 10%  of my Monthly Income (planning to increase it soonest) to my Spiritual Community which blessed me tremendously. And the 70% left will be used for my monthly expenses. The rich formula as what my mentor Bo Sanchez said that 100% - 10% - 20% = 70%, which means deduct first the 10% and 20%. I hope you can apply this on your self. There is much to learn but taking the first step takes a lot of courage. PAY YOURSELF FIRST.