Personal Finance

 

There is a difference between rich and wealthy people. Rich people splurge their money on branded products while wealthy people invest their money on real estates and stock market. Most people live a luxurious life and fail to achieve financial freedom. While most of us, including rich people, buy in an impulse, wealthy people stick to their buying list. Most people also pay interest charges whereas wealthy people pay their credit card balance in full to avoid penalties. In addition, most people love to gamble. Some of us are addicted to winning the lottery that if you can only sum up the money invested to gambling and lottery, you could have already bought a house. Wealthy people, meanwhile, put their money to guaranteed rewards such as stock markets, mutual funds, and real estates. Likewise, wealthy people invest their time and money wisely by reading books, listening to podcasts and attending webinars or seminars while most of us spend time and money on Netflix subscriptions.

It may be difficult to achieve financial freedom especially for some of us who are the bread winner of the family or if we are already used to a certain lifestyle, but with these simple do’s and don’ts I listed down, we can start to reach our financial goals:

1. Don’t buy what you don’t need.

I admit, this is the hardest rule I had to make. I tend to get excited everytime I see a red big sign that says SALE. But you know what I started doing? I try to avoid malls and online shopping app unless it’s needed so that I won’t have the impulse to buy discounted items. If I can’t really avoid them, I pause and ask myself multiple times if I need it or if it’s just a short-term retail therapy.

2. Don’t spend so much money on eating and going out.

I know this one is tough too because eating and going out are social activities that are fun to do with friends. Plus, it helps build personal and professional relationship. However, it is important to set a monthly budget and stick to it. You just need to be creative and find alternative ways to enjoy other’s company such as visiting the museums or attending free events.

3. Do forgo convenience.

This is what I always ask myself, and you should too: Do I really need to pay for cable when I don’t really watch TV? Do I really need to buy a new fancy smart phone? Do I really need to buy Starbucks coffee when I can drink 3-in-1 coffee? Do I need to order delivery when I can prepare for my own home-cooked meals? Do I need to take a Grab when I can use public transportation? We just need to fight the initial impulse to spend and live below our means.

4. Do list your priorities.

I am guilty of this. I know I want my own house, but I tend to buy stuff I don’t need, and I tend to book a ticket thinking that traveling is a reward to all my hard work. Since the pandemic started, I was forced to save money because I can’t travel outside the country. Little did I know that this pandemic would become an advantage to me because in just a few months, I was able to save money and paid for a condominium down payment. This made me realize that even the small changes in our lifestyle can make a big difference.

This recent achievement I had felt extremely liberating. Finally, I was able to take control of my personal finances. For some of us, it might take time and patience, but once you change your mindset and start to change your lifestyle, it will provide you more options for financial security.

Career and Life Plan

"A goal without a plan is just a wish.” – Antoine de Saint-Exupery

On my previous blog entries, I’ve talked about how I identified my purpose and how I wrote my personal mission statement and goals. However, listing down my goals is nothing if I will not out it into action.

Every start of the year, I list down the things I want to achieve for the year, and make sure to plan for it. I call it my Bucketlist. Some of the lists include painting and paragliding. What I did was to simply look for merchant that offers these activities and set up a date to when I will do it. I thought that developing long-term objectives and setting a timeline for it would be as easy as this, but I was wrong. Nevertheless, I wrote down my life’s plan, starting my vision and mission statement to motivate me towards my goals.

VISION STATEMENT

I envision myself as a well-rounded and empowered woman who has made a significant impact on the lives of people while reflecting God’s character.

MISSION STATEMENT

       My mission is to live a life full of compassion for humanity and an unceasing passion for knowledge. I aim to soar as high as possible without leaving my feet on the ground and aligning everything I do with God’s mission.

 

Before I proceed with my life plan, I’d like to share some quotes I live by:

On my Personal growth: “I CAN AND I WILL”

This quote gives me confidence to do whatever I aim in life. It reminds me that I am capable of doing even the impossible things if my heart desires it.

On Finances: “SAVE NOT SPEND”

This quote reminds me that I should think of how to save money instead of how to spend money. Even if I receive bonuses, I should think of how I can double or triple my extra money by investing it.

On my Career: “MAKE PASSION YOUR PAYCHECK”

Most people hate their career and they are only doing their job for the money. With this quote, I am reminded to pursue my passion as a career, so I won’t feel exhausted from working.

On my Relationship with family and friends: “DON’T BURN BRIDGES”

Although the world is big, it is surprising how we come across the same bridge twice. I realize that we must keep a healthy relationship with other people as we may encounter them again. I know it’s quite contradicting to my previous blog entry where I said to cut connections with toxic people. However, it is possible to cut ties without having to burn bridges. We can stay away from toxic people without hurting or ruining our relationship with them.

On Spirituality: “EVERYTHING HAPPENS FOR A REASON”

I used to blame God for not giving me the things I prayed for, but I realized that if God did not give us what we want, it is because He has a bigger and better plan for us. When we start to accept what’s not meant to be, that is when we will receive blessings and what is meant to be.

On Health and Fitness: “SKINNY GIRLS ONLY LOOKED GOOD OUTSIDE; FIT GIRLS LOOKED GOOD INSIDE”

This quote reminds me that my goal is not to become skinny but to become fit and healthy. I should maintain a sound body and mind in order to achieve my goals in life.

 

So, what is my plan?

My career plan is to avail of the student exchange program offered by DLSU and study in Europe for two weeks as well as to improve my communication skills by the time I completed my degree as this is essential in leading and managing people. A great leader must become a great communicator first. Once I become an effective communicator, it will improve my professional relationship and will lead to more opportunities. In the years to come, I hope to find a mentor that shares the same values as I have and will help me towards achieving my goals. I also see myself applying for a scholarship to study European languages and culture overseas once I finish graduate school and taking an opportunity to work overseas and allowing myself to be exposed in a diverse culture. It has always been a part of my bucket list to experience an international academic environment and intercultural activities. Hopefully by the time I am at my fifties, I am already a well-rounded professional holding an executive position and one who has obtained a relevant experience and expertise in my chosen field, mentoring novices.

 

While I aim to soar high, I hope to remain grounded and continue being God’s instrument to those people in need. The career plan I mapped out, along with my values is what will help catapult my success.

Personal Mission Statement

 

What is a mission statement? Why do organization have it and why is it important?

Those are my questions before I was introduced to the Business Ethics course. Whenever I was asked of what my mission in life is, I simply tell people that I want to build a life I don’t need a vacation from. I have come to realize that personal mission statement should be better than that.

Mission statement should define who you are, what matters most to you, and how you intend to live your life. Some people confuse it with goals. While goals are specific and time-particular, a mission statement is what should lead you to achieving your goals. It wraps up all your values, your purpose and your intentions which creates a motivation that will help you feel more satisfied with life.

How do I craft my mission statement?

Writing a personal mission statement for me is the most challenging part of creating a life plan. I made sure to put the most time and effort into it because this is my basis of how I can improve myself personally and professionally. I know I must align my every value to my goals through my mission statement.

I realized that creating a mission statement is a set-by-step process so I listed down three things I should take into consideration before writing my personal mission statement:

1. What do I value the most?

In writing a mission statement, I started by considering who I am and who I want to be. These are the questions I asked myself:

What am I most passionate about?

·    What do I care most about?

·    What problems of the world do I want to address?

·    What work do I want to do each day?

·    What way do I want to live?

·    What do I want my relationships to be like?

·    What do I want my bank account to look like?

·    Where do I want to spend my days?

 

2. What are my biggest goals?

The next step is to write down my goals. Be it small or big, it doesn’t matter, as long as it aligns with my values in life.

 

3. What legacy do I want to leave?

Due to unfortunate events related to the pandemic, I have come to realize that it is imperative to consider the mark we leave the world. I realized that each individual influences every single person they meet in one way or another.

It made me ask myself how I want to significantly impact others and how I want to be remembered. This is because when two of my relatives passed away recently, one who lived a selfish and narcissistic life did not have any friends to empathize with them during her wake and burial but the other person who helped many people, including our family, had a wake filled with friends and family crying non-stop because of her sudden death. Even though the government imposed an Enhanced Community Quarantine, her friends and relatives found ways to attend her wake and burial. She lived her life helping others even though she doesn’t have enough for herself. She thinks about other people before herself and lived a selfless life. This is also how I want to be remembered. A person who lived a meaningful and selfless life.

With these three things in mind, I came up with my personal mission statement:

 

My mission is to live a life full of compassion for humanity and an unceasing passion for knowledge. I aim to soar as high as possible without leaving my feet on the ground and aligning everything I do with God’s mission.

 

My mission statement of aiming success may be far from where I am at right now or even seem to be unrealistic for now, but I know it will guide me to my path. As my life unfolds, it will gradually turn into reality.

Work-Life Harmony

Working a full-time job and taking a full course load in the graduate school leaves me no time for myself. People always wonder how I’m able to juggle it all and not lose my marbles. The truth is, I do get burnout and lose my mind sometimes. I tend to break down and lose my temper from lack of sleep due to the pressure and overwhelming workload I have.

Most people work hard as I do to pursue their goals in life as they thought that it is a guaranteed source of happiness. While I admit that I am one of them, I also admit that reaching our goals may take a toll not just on our physical and mental health but also on our personal relationships. If our health is compromised or our relationship is ruined, the things we insanely worked hard for will just go to waste in the end. That is why it is best to allot time to what makes us feel invigorated so that we don’t lose ourselves in our journey to reaching our dreams.

I believe that the concept of Work-Life Harmony is what will help us achieve our goal and live to our full potential. This is about integrating work to our life and making it a fun activity instead of dividing our time and separating work from personal life which is what the definition of Work-Life Balance is. In writing this journal, I came up with 5 reminders to myself to maintain a pleasant, harmonious arrangement of work and life.

1.       Make health the top priority.

Health goals is connected to career goals. I should keep in mind that the only way to achieve my goals is to have a sound body and mind.

2.       Manage time effectively.

I should organize and break my tasks into categories to avoid getting worn out: a. Urgent and Important; b. Important but not Urgent; c. Urgent but not Important; d. Neither Urgent nor Important and let others help to achieve the tasks.

3.       Don’t try to become a Jack of All Trades and let go of the things that can’t be controlled.

I should concentrate on what I am good at and don’t beat myself up for my weaknesses. Sometimes I tend to stress myself out about things I cannot control or change. I tend to waste time mastering something I know I can’t learn easily. I should allow myself to fail and ask for assistance if needed or if things go out of hand.

4.       Stay away from people who drain your energy. 

                In my life, there are some toxic and narcissistic people whom I am afraid to cut my connections with because I value the time we’ve known each other. However, spending time with them gives me a certain negative energy. When I started to spend time with my classmates in graduate school, I became as broadminded as them. I agree with the saying that you are who your friends are. If you spend time with the smartest people, you will become one of them. If you spend time with bunch of idiots, you will eventually become like them. I should keep in mind to choose my company wisely and avoid spending time with people who drags me down. I should bolster my support system and maintain boundaries with those who don’t have the same ideals with me.

5.       Me-time.

Sometimes, I tend to feel guilty for procrastinating, but I should keep in mind that lying on the couch watching Netflix the whole day doesn’t hurt especially if I know I’ve worked hard the previous day. This is the time I should also start doing the things I love or checking simple things in my bucketlist such as painting or pottery-making. A time I should allot to relax and catch up with my family and good friends. A time I should take a break and travel. This will not only make me feel rejuvenated but also motivated.

 

It can be a challenge to integrate work from our lives but shifting our mindset to Work-Life Harmony instead of Work-Life Balance will not only improve our productivity and creativity but also give a significant impact to our long-term success and well-being.