Monday, March 19, 2012

Saving for the Rainy Days

Proverbs 21:20

"The wise man saves for the future but the foolish man spends whatever he gets."

Based on that verse from the Bible, I’m a very, very foolish woman. Over the weekend, I attended a financial seminar by Bo Sanchez and this was his opening verse to us. He also told the story of a former president of a company who retired with P10million but after two years all of his money and assets were gone. The truth of the matter is, I’m like that president of the company, I rely heavily on my retirement pay if and when that time comes. You see, we have a really good retirement plan where I work in so I always thought my savings for that is enough for us. Aside from a lump sum payment, I will receive annuities once I retire. But of course, we have to change our lifestyle to live within my pension. So my hopes and dreams of going around the world when we’re both old and gray will not come into fruition.

Plus, we have a daughter now. So aside from ourselves, we have to think about the future of our daughter (and future kids if God willing). I really want a big family as in three or four kids. But with the expenses of having a child, sometimes I think one kid is already enough. So I want to be richer to have a big, happy family. And I want our family to have a comfortable home, I want to send my kids to the best schools money can pay for, I want to travel with my whole family maybe every year. So I have to save, save and save for all of these.

It was really good timing that I attended this seminar. My mother prodded me into going because they also attended another financial seminar by Bo Sanchez a few months back. It’s that time in our family life that Joema and I decided on some of the big things like where we should build our home, with that follows where we should send Miya to school. With God’s grace, hopefully our dreams of building our home will be in the near future. We’re sorting out our cashflow and looking at where we can save money. It’s really time to buckle up and save for our dreams. After the seminar, I’m really inspired to start saving and investing.

Day 2 of 30

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