[rael]

blaming the poor is not constructive. what we need to emphasize is make everyone accountable for his own financial well being.

waiting for the government to intervene or deploy programs that will improve our lives 5-10 years from now is just being lazy. parang si juan tamad, hinihintay yung bunga na bumagsak sa kanya.

regarding wealth distribution, as long as capitalism is in place, there will always be inequality. more rewards to those taking more risks, making more effort (making smarter moves).

in the US, despite being a first world country, there are still talks about income inequality to this day (one study which i just scanned through).

and i think the rules are simple: not all are created equal. we reap what we sow. life is fair.

[bullet]

likas n yata sa atin ito

[richpulubi]

scout,
I have thought long and hard how to respond to your last post, cuz you have made some points that opened my eyes to certain realities. Like the established old rich will forever be rich. Even if they live off the interest of their wealth alone. It is true that the government has some fault for the status of poverty in the Phil. Example: Noli de Castro is indeed buying a house in Dasma for P200M from the cousin of a friend of mine. Also, it usually is in the interest of local officials to keep people poor. Cuz these are the people you can buy votes from. The poorer they are, the less you need to spend.

But also, that there is still a flaw in this reality. Indeed, when we think of farmers, we think of what a difficult life they live, and how near impossible it is to progress to riches from this standpoint. But they do have a choice, if they want to continue to be farmers. You see, wealth CAN be achieved in one generation. But it is usually achieved over a longer period of time, in more than one generation. You have to bear in mind, somewhere in the past, all rich people, generations ago, were once poor. There is usually one enigmatic ancestor who beat the odds to become rich. Then, the next generations just need to maintain it. So, for a farmer, maybe his child will put up a small sari-sari store. Then, her child can go to school and become a secretary. Then her child becomes a businessman, and his offspring can become a doctor. The speed to wealth depends on initiative, competence, and luck.

As to 10M poor people, you have to bear in mind, we have 8M middle and high income filipinoes...all over the world. In the usual surveys, their number is not accounted for. It may seem that many poor people will forever be poor, cuz the percentages don't seem to change. But don't forget that the dream of many of these poor parents is for their children TO BE ABLE TO WORK ABROAD. And in fact, many of them do. And sadly, many of the families left here become complacent and just depend on the handout from abroad. Therefore, the condition of everybody's financial status is STILL greatly influenced by the choices we make, irregardless of the government.

As I posted in the past: The best way to predict the future is to create it ourselves.

[theEdge]

from my observations, i think that one of the most likely reason is that filipinos in general have very poor money management practices.in order to be wealthy,you have to build up your savings and invest for it to grow.              
       its very simple and it only take some discipline ,to build savings ,you just have to let your income exceeds your expenses.no matter how tiny the amount , in time it can build up to a large amount.

[leela]

...because we love blaming external forces
...because we don't take charge of our own life

[PIPoy]

Filipinos in general are poor because we think are poor.  Part of this can be blamed on our century old dependence on our colonizers. Another reason can be too much religion.  The saying " money is the root of all evil" undeniably has affected our mental picture towards wealth. Because of this filipinos in general are lazy, dependent, and irresponsible. Only a few are truly independent and "free thinkers" and more often they are the affluent ones.

Im wondering why, we inspite of being the only christian nation in asia and yet we are  behind in terms of economics? hmm..

[new_me]

i think we are really not poor...were just dirty and no organizational skills...dats what makes us poor

[pinoynetworker]

ano kinalaman ng dirty sa pagiging mahirap?  dirtiness may be (but not always) a consequence of being poor ... kahit mga mahirap na kano, dirty.  actually mas malinis pa ang Pinoy kesa Kano kasi naghuhugas at nagsasabon after um-ebs... hehe...


@Pipoy:  "Im wondering why, we inspite of being the only christian nation in asia and yet we are  behind in terms of economics? hmm.."

I think you should wonder about the irony that while we claim to be THE only Christian nation in Asia we also happened to become THE top corrupt nation in Asia according to Transparency International.  When you see the politicos on TV akala mo mga napaka-relihiyoso although most of them are nothing more than hypocrites... kunyari para sa masa... pero kalimitang pansariling kapakanan ang inuuna... sariling bulsa muna kaya't ang MASA... lagi na lang u-MASA...

kaya dapat ang MASA matutong magsikap para sa sariling pag-unlad.
 

[pingles]

i think we are really not poor...were just dirty and no organizational skills...dats what makes us poor

LOL

[tops5450]

Actually pinoy ay di tamad. kung bakit naghihirap sa kalokohan natin ina-apply.

[PIPoy]

@Pipoy:  "Im wondering why, we inspite of being the only christian nation in asia and yet we are  behind in terms of economics? hmm.."

I think you should wonder about the irony that while we claim to be THE only Christian nation in Asia we also happened to become THE top corrupt nation in Asia according to Transparency International.  When you see the politicos on TV akala mo mga napaka-relihiyoso although most of them are nothing more than hypocrites... kunyari para sa masa... pero kalimitang pansariling kapakanan ang inuuna... sariling bulsa muna kaya't ang MASA... lagi na lang u-MASA...

kaya dapat ang MASA matutong magsikap para sa sariling pag-unlad.
 

Nice point there. It is in our culture actually that we filipinos will let our leaders think for us (well at least to the marginal poor,this is true).  That is why we are prone to abuse from the highest level of political heirarchy down to the barangay level. We just allow it, period. It is my hope that every filipino someday would be able to think for himself, not thru his religion, nor his political bias but for himself- make his life better. That is why education is important. Though it is not a guarantee that education will make one a free thinker but it is a catalyst.



Actually pinoy ay di tamad. kung bakit naghihirap sa kalokohan natin ina-apply.

You think so? Ever wonder why the richest filipinos are not the native filipinos? Instead they are the Chinoys and Fil-Espanols? Who are the top five richest filipinos? Is there anyone there a "pure blooded" filipino?

[vbignacio]

christians nga tayo pero sa pangalan lang. kung may takot sa Panginoon ang mga leaders natin, sa tingin nyo kaya magagawa nilang magnakaw? mababa kasi moral standards ng karamihan sa atin. wala na inisip kundi magpakasarap.

[rmcuesta]

NEGATIVISM. unfortunately, being negative is popular sa mga pinoy. the more negative ang news mas mabenta.

[nutzloki]

  bakit nga ba...iv read something about the basics of cash flow..it might be what most of us lack..anyway let me share it here..

The basic is. What pattern do you see if you will get a P100.00 bill and monitor where and how it is transferred from 1 possessor to the other? How does it flow? The pattern for a typical Pinoy is.
 
You earn from your work, you spend it on food, gadgets, clothing and other basic needs. Before you reach the next payday, paubos na yung pera mo. But that's ok payday is just a few days ahead and it doesn't matter if I run out of money, I am expecting money again any time soon.
 
This cycle goes on and on and you make some sidelines or create other ways to earn but it seems that money was never enough.  (I am tempted to explain further pero usapan... basics lang).
 
So you can't leave the job that you have because a week without work would affect the cash flow you have to support your family and needs. As much as you wanted to accept another job, the gap would make you pay less for a couple of days, which makes you a slave to your boss.
 
At least, you have a job to support your needs.
 
So to illustrate...Cash is flowing inside your pocket.
 
Years have gone by doing your monotonous routine.
 
Question... what if you get fired? Or you were forced to retire because there are new and younger people ready to take your place. What would you do?
 
As an OFW, Makati Executive, Top Salesman, Engineer, Attorney, Teacher, etc...  What if it all ends? The sweet cash that enters your pocket every 15 th and 30th suddenly comes to a halt.
 
There are two things you can buy with your money...  An asset and a liability. To describe each... An asset brings money inside your pocket; a liability takes money out of your pocket. Another way to see, it is that an asset if you buy one, will bring the money you spent for it back to you 2 or 3 folds. A liability, when you buy it will not give your money back at all.
 
Sa ilocano... idjay ti kwa... djak maawatan...  (joke lang po, seryoso na kayo eh...)
Sa madaling salita... kapag asset, maibabalik ang pera , pag liability, goodbye sa pera...
 
Ang problema kay JUAN DE LA CRUZ, habang may trabaho ipon ng ipon at bili ng bili ng liability!
 
I have seen OFWs get back to the country with gold chains at kung pwede lang limang shades ang isuot ng sabay-sabay gagawin nya eh... dvd, component, jackets, clothes, inuman, pulutan, party, pabango... hindi na makalakad sa dami ng bitbit...
 
At s'yempre mga empleyado natin dito sa bansa na lingo-lingo bago cell phone at mags ng kotse.. hindi na nga magkasya ang damit sa aparador, tapos pag umaga sasabihin.... wala na akong maisuot.
 
Guys, esep-esep... what you bought... will it bring money back to you? I know what you have in mind... you have to enjoy what you worked hard for. That's right, but think of something that will last... think of your future.


 
I have seen the worst of people who were abogado de kampanilya, executive secretaries of top rank business men, people who worked for big companies, earned a fortune and got a big retirement pay by the millions... Now.... Wala na.
 
Why? Because of their cash flow... went in... went out.
 
I need not to mention basketball players, actors, singers, etc... Check what is their career path... next after acting, singing and playing... POLITICS. Kasi, 'yung million na kinita nila, puro liability ang binili.
 
Going back... all the liability they bought, ibinenta ng mura! I'm wearing a gold chain now, which I got from a seaman... he bought it for P35,000 and sold it for 8,000 to me.  Hindi po asset ang alahas! Bakit? Totoo na tumataas ang value n'ya pero kapag gutom ka na, kahit palugi ibebenta mo! (wala bang aaray?) Cell phones... dvd players etc. pati bahay at kotse... that's the cash flow of most OFWs...
 
The question is ... "WHAT IF THE INCOME STOPS?"
 
Sa Pinoy, ganito: anak... mag-aral kang maigi, at pag tanda namin... ikaw na bahala sa amin ha....  Hindi po ba maling-mali...
 
You have to establish something today that will take care of your future.
 
Teka, teka... eh ano ang dapat gawin para hindi mangyari yan?
 
You must create a source of income that will continually make money flow inside your pocket. Start a business! While you are working as an executive or an OFW, or a professional... START A BUSINESS and MASTER that business till you get out of that company. Para kapag tumigil ang income mo sa kanila... may susuporta pa din sa iyo hanggang pag-tanda mo!
 
Now don't tell me to invest my money on pensions and plans... NO WAY! Narinig n'yo na siguro yung .... Naku ayaw ko na magbanggit.... 'yung mga nagbayad at hindi nakapag-claim... sila pa ang dinimanda at nag-piyansa!!! HUWAG MO I-ASA ANG PAGTANDA MO SA IBA! GUMAWA KA NG SARILI MONG BALON NG PERA!  KAHIT MALIIT PA 'YAN, SARILI MO AT HINDI KA AASA SA IBANG TAO...
 
Imagine yourself when you reach an older age... (aruy ko,,, baka yung iba sa inyo about that age... tabi tabi po...Ako po sa mga nagtatanong... I'm 37 years old. Naabutan ko pa si Michael Jackson at hinele po ako ng nanay ko sa mga kanta ng hagibis...). You have money that the company gave you as your retirement pay... what will you do?
 
You can consume the money till your old... eh kung hindi umabot?  Masamang damo ka pala... at hindi ka kaagad kinuha ni Lord. Eh pang age 65 lang yung naipon mo na budget.
 
Or maybe, you can start a business and use the money for capital... Kapatid... 9 out of 10 businesses, FAILED... yung isang magsa-succeed, gagayahin pa ng kapitbahay mo instead na mag-franchise sa 'yo... think! At age 50, you are struggling trying to make a business work! What if it fails?!
 


 
Eh ano nga ba ang sagot?
 
The answer is, stop buying liabilities and instead buy assets now. I don't care if it is a banana-Q store, balot, ice candy or a sari-sari store, etc... start now! Because, your experience here will teach you what to do in the future.  It's so hard to struggle in business when you are 60 yrs old.
 
You have to create a source of income separated from the source of income from your work. That when the time comes that you have to stop working, you will have your own source of money! Create assets, start a business that will be there to support you and your family. I AM NOT TELLING YOU TO QUIT YOUR JOB! I'm telling you to start a business while you're working and stop spending your money on liabilities and start putting them on assets!
 
Ang pera kapag pinambili mo ng LIABILITY... hindi na babalik... ang ASSET... BABALIK.
 
Teka... masama ba bumili ng mga magagandang gamit? Hindi! Siguraduhin mo lang na ang pambili mo nun ay galing sa asset mo. The business has to be prioritized! Mawalan ka man ng trabaho, may negosyo kang palalaguin.
 
If before, nabubuhay ka naman ng iisa sapatos mo, huwag mo baguhin 'yun... dati, nagdyi-jeep ka lang... 'wag ka na munang mag-FX...
 
Create assets and lessen liabilities. Invest and learn now... mag-negosyo!
 
Eh anong negosyo? Any, as long as you think it will work and doable!
 
 
Again, I hope that this BASIC CASH FLOW article helps.... I wish all of us become financially free!

[GoodSteward]

nutzloki, well written, thought provoking, great contribution!!!!!