MONEY 101 Part 2

Wanna be rich? 90 percent of those who read this blog post became richer by the minute. Only ten percent became richer by knowledge.

 Money, money, money… Who doesn’t want money? No one…Money Matters in terms of keeping up with this grueling transactions and lifestyle in this generation! An important lesson I learned from my business courses at school is cash is attractive. It is an instrument that flows to sustain persons within and or without the premise of the firm. Cash is susceptible to goodbyes.

As soon as I saw this poster around the AMV bulletin board, I immediately scrolled through my planner and made an appointment with this date. Seminars are not free; or at least, rarely do they offer them cash-free.

An event by Rotaract, hosted by Josh Chantengco and Ruth Yambot.
Last week we learned four applications in order to increase our wealth. Training is an important aspect to become richer. Read Part one for full discussion. In part two we will focus on Questions to Ask Before Investing with our guest speaker Joseph Brian Nonay, CRS, CIS, RER, REA.

Prior to his speech he told us to explore our earning potential by asking questions. What is money for? What are the investment relationships? Where do I invest my money? Why invest? When is the best time to invest? These questions are self-explanatory depending on the risk capacity of the client (us).
1.                    What is the best investment? None. Best investment is depending on our own assessment of risk
2.                    Is it 100% proven to gain via stock investment or stocks? Not at all. Stock investments are depending on the corporation’s performance, if they are immortal or not. Sometimes, due to insolvency, corporations can lead to bankruptcy.
3.                    What’s the best thing to do before you invest? Study first—don’t invest in things you don’t understand. People invest in high return; so check how the business earns.

If you wish to continue with our discussion on investing, ask yourself these questions—Who are you right now? Who do you want to be in the future? What are you doing right now? How much do you need to invest? You don’t have to answer them pronto.

Now we’re done with the basic FAQ’s, we will proceed with known facts. Only 5 out of 100 Filipinos are spending less than their income. 96% of Filipinos are concerned about their and their family’s health but only 16% are prepared to pay for medical costs. With this, Sir Joseph suggested that we must be financially literate. He stated that, “ financial literacy will make better financial decisions, avoid scams, manage money better, make you more responsible adult and prepared for the future, AND achieve financial independence, financial security, and financial freedom.”

This time, he raised us with three questions:
1. How rich is Rich?
2. Why do you want to be rich?
3. How do you get rich?

Wealth indicator = (cash in hand + cash in bank + time deposit + S.T investment) /  (Monthly expenses – passive income)

You can measure wealth by that formula above and also by your “capacity to live without working and asking for help and money. The longer you can survive, the richer you are.” How to get rich? Increase your assets (numerator), decrease expenses, and increase passive income. Rich is not how much cash you have.

To the questions italicized, a tip from the expert—Do something today that your future self will thank you for.
For more information about the guest speakers and the full article, contact me at

Some remarkable photos I adore so much:

MONEY 101 Part 2 MONEY 101 Part 2 Reviewed by Michelle Tan on 12:12 PM Rating: 5

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