Dealing with Financial Problems

          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.