When it comes to managing money, there are five kinds of people in this world. Who are you?
#1: Gloria Gastadora:
Gloria Gastadora lives on 100% of her income. Sometimes, when she borrows money, she lives on 120% of her income. She’s never absent during Midnight Sales. Her credit cards are faded due to overuse. Even if she wants to give to God or invest in her future, she cannot. Obviously, after all is spent, she has nothing to give to God except her loose change. In Church, Gloria Gastadora isn’t a tither, but a tipper.
#2: Kunat Kuripot:
Kunat is a frugal and fearful fellow. He lives on 80% of his income, because he saves 20% or more for his future. He lives in fear. He feels safe only when he knows he’s got lots of money in the bank. It really seems safe, except that he doesn’t know that putting his life savings in the bank isn’t such a wise idea at all. When he retires, Kunat will realize that his savings isn’t enough. And like Gloria Gastadora, Kunat Kuripot can only give his spare change to God—because he’s always afraid of his future.
#3: Bertong Bulag:
As a kid, Berto was a financial whiz. Upon graduating from college, he already opened a mutual fund. He also started investing in a blue chip company in the stock market, putting small amounts of money every month. He also started a business, and it has done very well. Berto has become wealthy. The problem is that he still cannot give to God, because he sees it as an expense, like it was a luxury he can’t afford. He doesn’t realize that giving to God is also an investment—the most secure and long-term investment of them all.
#4: Wally Waldas:
Wally has no problem giving to others. He is very generous to others, but he isn’t generous to himself. Because he doesn’t invest for the future. Wally just likes giving his money away to people who end up abusing him. His close friends tell him that his giving is no longer helping others, because they have become parasites. But he’s blinded by his need for their attention. Wally, in the long run, cannot even give to God, because his money will be long gone.
#5: Manny Mapagmahal:
Manny gives to God, gives to others, and gives to himself. After receiving his income, the first thing he does is set aside 10% to God. The second thing he does is to set aside 20% to put in investment vehicles—such as funds, stocks, businesses, and real estate. He also has set aside an Emergency Fund—3 to 6 months of his salary in the bank. The third thing he does is to limit his expenses to 70% of his income.
Today, Manny is prosperous. He now gives 20% to God, invests 30%, and lives on 50% of his income. In his old age, he’ll continue to be even more generous.
I think no.1 and no. 4 ako hahahah....