Financial problems are sometimes inevitable. It is the reason why
emergency fund is always taught first in financial planning. A lot of
emergencies happens especially if you are living in the Philippines.
Aside from typhoons & calamities, rainy days & sudden change of
climate usually brings floods & sickness which leads to the usage of our emergency funds. Another reason behind setting an emergency
funds is for preparation of possible unemployment in the future.
My case is comparative to being unemployed already. With almost five
months delayed salary and counting, you can see that I am in already in
deep financial problem but I was able to survive it & I am still
surviving & enjoying my life as well.
Having a emergency fund is not the only solution in dealing with these
kind of financial problems. Fortunately, I live in the Philippines - our
simple lifestyle & Filipino traits contribute a lot in surviving
whatever major problems I experience. Here the things I learned this and
how I dealt with my financial problems lately.
"KNOW YOURSELF & FOCUS."
I know my strengths as well as my weaknesses. A lot of the people
around were suggesting that I should look for another job or I should
find an online job. Well, its a good option but I simply cannot do it
right now. I need to focus on my studies first. I know that mind is not
good in multi tasking. At my age today, I know that my mental ability is not as good as compared to my younger years so studying while working is a bit difficult for me now. It will be more difficult for me if I'll have another job. So for now, I just have to be frugal & be wise in
every financial decision I made.
God has created us
equally. We all have different level and types of intelligence and we were also given our own strength & weaknesses
that we can use accordingly and that I think is an important in dealing with financial
problems. Taking risks is good for other people but not for me, I cannot
take risk right now for it might jeopardize my plans & goals in
life. I am taking things slowly but surely and one step at a time.
"ONE AT A TIME."
Yes, one at a time. It's the advice I always get from my classmate
whenever I'm in a panic state during my school days. She would always
remind me to think of one task at a time, solve one problem at a time,
take one step at a time and ask for divine enablement all the time.
With my current financial situation today, who wouldn't panic? But
since I was always reminded with those words, It helped me a lot in
making financial decisions, most especially in prioritizing which
financial obligation should come first.
"PRIORITIZE."
Prioritizing is the key not only in dealing with debts but also in
dealing with financial obligations as well. Last September, my tuition
fee was on top of my priority list. As you can see, I stopped making
additional investment on my mutual funds & focus more in completing
my BPI Philam life insurance. I was glad that I was able to finish it
last November, "atleast nabawasan na ako ng iisipin." I also went back to
completing my emergency fund as part of my financial goals this year.
"LIVE A SIMPLEST LIFESTYLE AS POSSIBLE."
To be able to fulfill my financial goals, I try to simplify my
lifestyle & be frugal in every possible way I can. Do you know that
it can be both good & fun at the same time? Going on a diet &
walking to save some money can be good to our health while the more I
deprive myself into eating at Jollibee, KFC, Mcdo or Chowking, all the
more I get excited when I indulge myself a little bit into my comfort foods once in a while. Aside from the fact that we Filipinos loved
eating tuyo, daing & bagoong with a little malunggay leaves &
kamote from our neighbor's backyard, hahah, panalo pa rin sa gana tayong
kumain, who wouldn't agree with me? As what the saying goes, "money can
buy food but not appetite".
"KNOW YOUR CASHFLOW"
I usually have my budget plan posted here and even though I stopped
listing my daily expenses, I already know how much will be my budget for
the whole month or if there's any extra from my earnings. Knowing your
cashflow is equally important in the determining your future financial
plans. In this way, I was able to know my monthly & yearly expenses
as well as the amount I need to set aside in the future. In my case, I
was able to fit on P500-weekly hapit budget and it will be easier and
flexible to adjust should I be permanently be unemployed next year.
"LET YOUR FAMILY KNOW FINANCIAL PROBLEMS."
When
I decided to go back to school, I told my mother the possible financial
problems we'll encounter in the future and her response
"It's okay,
we'll help each other, go ahead pursue your plan."
When I told
my father I really can no longer buy rice, lpg gas, & other grocery
stuffs because of the current financial situation I have and he said
"
It's okay, I'll be the one to provide it from my SSS pension".
(sacrifice muna yung pang tong-its nya, magmimiron na lang daw muna sya,
heheh)
Family will always be the first to help you during your
most difficult times. I advise those breadwinners out there not to
assume all the financial burdens, it is always best that the family
knows what we're going through so that we'll be able to help one
another.
"BE BOLD"
When I told my boss
that I want to continue paying my life insurance, I requested him to
give back the 3 quarterly premiums he was not able to deposit and he
agreed to give it back little by little until its completely paid.
When
I needed to pay something or needed some allowance, I always go
directly to my boss, to ask for a portion of my salary, and he'll try to
provide it.
I know the current financial situation of our company
and I have made some financial sacrifices too but there were times that
I badly needed some money too for my survival.
My mother
told me to stop working since our company can longer provide our
financial needs but I feel like I needed to help our company. And even
If I do give up my job all the more chances of not completing their
financial obligations to us including the SSS, Pagibig & Philhealth
that were not paid for four years. Our boss is a kind person but those
decision can only be settled by him so I need to be present until such
time that it will paid as he promised.
"TRUST GOD"
I
think this is most important lesson I learned in dealing with those
problems. I believe that everything happens for a reason and not just a
random result of everything that happens in our universe. Even If I do
have plans & goals for myself I know that God has a better plan for
me.
As what Jeremiah 29:11,
"For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future."
These
are the things that I have learned as I go through this tough &
exciting times of my life. This year 2016 may not be as good as those
previous years financially but I can say that this year has taught me a lot to be
more mature & optimistic in life. I always thank God for all the
blessings I received this year & pray to HIM to give me more
strength & wisdom as I go through these challenges in life.
So there goes my financial journey.
How bout you? What are the lessons of life this 2016?
Have a great abundant year ahead.
Happy & Prosperous 2017.
