I remember when a friend told me that a batchmate (we all graduated 3 years ago) is mayaman because she just bought an iPhone 5. Wow! Of course, I was impressed at first because during that time, only a handful had dibs on the newest iPhone. However, this was when I was already learning about the proper way to handle money, so the first thing I told her was, "Cash o installment?"
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| Photo credit: www.mashable.com |
I see a lot of people carrying the latest gadgets. Me? I only have a cheap Android phone. Even though I sometimes drool at the features of the newer high-end phones, I have to content myself with what I have. You know why? Because this is what I can afford and because I don't need a new phone.
Tip: Live within your means. Do not buy something you can't afford with spot cash.
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| Photo credit: www.tourism.gov.ph |
1. For me, a rich person is someone who is content with what he has and does not have to look at another person's possession.
Like what I said, I only have a cheap Android phone, but it works. I work full-time as an online essay instructor, but what I own is a small notebook instead of a Macbook. I also blog regularly, but I didn't buy an expensive DSLR to take photos. Why should I when my point-and-shoot works well?
2. A rich person is also emotionally secure and does not depend on material things to validate himself.
This is something I need to work on. I think I have a low EQ when it comes to clothes and dresses. Gadgets I can ignore, but when I see a pretty dress for sale, I have a pretty hard time debating with myself. Unfortunately, it is not always the frugal one who wins. Aside from clothes, I also have very low self-control when it comes to baby stuff and interior decor.
3. Finally, a rich person is someone who can face any unexpected event, whether welcome or not, without having to worry because he is prepared.
This is the most important factor, I think, in the journey to becoming rich. A lot of people might boast their gadgets and wheels, but would these pay for an emergency? I actually see many people selling their gadgets online. Why? Because they need money for something. In my opinion, a rich person would never have to resort to doing such a thing. This is because a rich person has already an emergency fund and would not buy anything that doesn't grow and is considered a liability.
There we have it! These are my definition of rich. I am not everything I mentioned above. As I mention here, I'm still beginning my journey to becoming a rich Filipina.
How about you?
Hello Maan ! Financial freedom and stability is indeed a never ending journey of learning and hits and misses. Though I am not still financially secured like you I also long to be rich, not financially but in the true sense of the word.
ReplyDeleteBy the way I am also following you at Sverve. I just would like to know how you get to make or post tips. I am still familiarizing myself with the site and a reply will be greatly appreciated.
Blessings !
That's my ultimate goal, too - to be truly rich in spirit and in finances. However, I must admit that it is in the financial aspect where I am lacking and need more work in. Hehe.
DeleteAnyway, I post entries and tips on my Sverve account by downloading Sverve bookmarklet (http://www.sverve.com/static/bookmarklet). It works like Pinterest's pin button. :-)
I was inspired by an interview of Suze Orman over at Karen Davila's Headstart at ANC a week ago. She was the one who said "Don't buy things you can't afford to impress people you don't even like."
ReplyDeleteHala, I only saw this comment now. I read the article about her, too. So true nga - I'm trying to apply that principle now. It helps na I'm just home most days hehe.
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