Did you go to the Financial Fitness Forum 2017 event last March 25?
I was able to go during the second part of the forum (due to client meetings in the morning). Here are two important takeaways from the conference that financial literacy enthusiasts like you and I can take note of:
I’m making a “30 things to do before you’re 30” list. There, I stated that I want to finish a 10 KM run, but in order for me to do that, I need to finish a 3 KM run first, right?
It’s the same thing with investing.
Aim to invest at least 50% of your income in the future…
BUT start with 5% first!
And when you’ve reached that, target a higher goal like 10%! Why?
You do this so that your motivation increases.
Once you’ve reached a small goal, you’re pumped and excited to get on the next one.
READ: The First Thing You Should Focus On Starting Your Journey To Financial Freedom
2. Have a “Help Fund”
Are you an OFW?
If you are, you must be familiar with the viral message that an OFW’s family sent to her?
Basically, the relative was accusing the OFW of being selfish, just because the OFW wasn’t able to send money once.
Grabe. I can’t help it, but my heart breaks especially when I hear about things like this one.
To all of my OFW readers, please listen up:
“You cannot pour from an empty cup.”
Please, please, magtabi po kayo para sa sarili nyong future bago kayo tumulong sa iba.
AFTER you have budgeted for your financial goals, allocate a small amount for your HELP fund. So when someone asks help from you, you have a little something to share.
Helping yourself first is NOT selfish.
READ: Screw your sense of self-entitlement!
TIP: Your non-working (but healthy and able) relative in the Philippines is asking for P20,000 to:
– start his 7th? 9th? 777th? own business
– pay his child’s tuition (is your long-lost distant niece a part of your priority?)
– pay his utang (you’re not his asset, why should he liquidate you to pay his loan?)
– buy his motorcycle, etc?
Don’t give the full amount. Give just 10% of what they’re asking, and don’t expect the money back anymore.
Have you attended this year’s FFF? What did you learn? 🙂