10 Tips on How Savings Money Made Me a Better Person

 News
Dec 142017
 
Chinkee Tan
Chinkee Tan

I am thankful and grateful that my parents really taught me how to save money. But it wasn’t really pleasant when I was starting. It seems like I felt deprived of so many things in life when I was still young. But thanks be to God the discipline of savings made me a better person.

Just like any other form of discipline, saving money has its positive effects on a person.

I am sure you understand how saving money entails making the necessary sacrifices. I’m not just talking about a few. We all know building your savings requires numerous sacrifices – giving up the little luxuries you have been so used to doing before you decided to take your future seriously.

And it making these sacrifices, you are investing primarily on your personal growth as an individual. More than the amount of money you are putting aside, you are building your character.

Building your character means you are on your way to becoming a better person. And being a better person means letting go of old bad habits and making new ones that will guarantee your improvement.

Here are ways saving money can make you a better person:

#1: You learn to prioritize.
#2: It requires you to learn how to resist temptation.
#3: You become more conscious about what you spend on.
#4: It helps you put things in the proper perspective.
#5: You learn to say “no” to less important things.
#6: You start to understand the value of perseverance.
#7: You learn to think less of temporary joys and think more of lasting benefits.
#8: You learn to plan your future.
#9: It teaches you how to be patient.
#10: It teaches you the value of preparation.

It is not a walk in the park, but the lifelong learning you get out of it is irreplaceable.

THINK. REFLECT. APPLY.

What has saving money taught you so far?
Do you understand the benefits you are getting out of saving money?
What other areas in your life can you improve by saving money?

If you want to learn the discipline of saving, I suggest you read my latest book “Diary of a Pulubi”. To know more, please click this http://bit.ly/2yPVcDf

5 Powerful Money Lessons We Can Learn from Chinoy Tycoons, Sy, Gokongwei and Tan

 News
Nov 102017
 
5 Powerful Money Lessons We Can Learn from Chinoy Tycoons, Sy, Gokongwei and Tan

Chinkee Tan SM’s owner, Henry Sy. Robinson’s owner, John Gokongwei. PAL’s owner, Lucio Tan. What do they have in common aside being wealthy, they are all Filipino Chinese. The Chinese are very unique when it comes to money judging from both the culture’s superstitious beliefs and practical applications. Here are some interesting Chinese beliefs that I have come across over the years that may sound familiar to a lot of Filipinos: Burying money under the floor or a house or business attracts wealth. Wearing a jade ring on the little finger brings wealth. Never allow your wallet to be empty. At least leave some coins in it when not in use. Do not put your bag on the floor if you want to attract money. Putting plants with round-shaped leaves inside the house can bring one a lot of good fortune. The list can go on and on. While there is no acceptable scientific explanation for these practices, the Chinese are careful to abide by them. In fact, they are careful to pass it on to the next generation. When it comes to PRACTICAL applications on the effective use of money, there are so many helpful tips that we can learn from the Chinese. Here are a few famous ones that I know you may be aware of: LESSON 1: SAVE MONEY AT ALL COST. Putting aside money for a rainy day is always a good idea. LESSON 2: PAY FOR PURCHASES IN CASH. Like what I would always say, Read More …

Why Is It Hard To Talk About Money With Our Family?

 News
Apr 132017
 
Why Is It Hard To Talk About Money With Our Family?

Chinkee Tan A lot of the parents teach their children basic things like… Saying “po” and “opo” Knowing right from left Memorizing the alphabet Counting from one to ten And many more… A lot of parents teach almost everything that a child must know, except for one thing: FINANCES Maybe this is because they themselves were not taught by their own parents. And their parents were also not taught by their own parents. In the process, some of us make BAD FINANCIAL DECISIONS. And because of these, we suffer. A lot of families also never talk about money. And because of this, we don’t learn how to… MANAGE OUR OWN MONEY I’ve never seen a baby go to a bank to open a savings account. Or, I have never seen a baby who already knows how to invest, and grows up to be a successful businessman at 5 years old. Have you? Why? Because everything that a child learns is passed on from his or her parents. And a child learns mostly by observing and imitating the lifestyle of adults. And if children are unable to find a role model, chances are, they will learn by hit and miss, and by trial and error. And if a person is not able to learn how to manage his or her money well, this usually results to… DEBT Because a person does not know how to save, budget, and spend right, the money that he or she has is usually not enough. Read More …