Probably, most of us heard about it many times in the past, save for your future and invest for your retirement.
We have been provided nowadays with a lot of information on the web on how to save and invest, we even read about testimonial from different personalities on how they became successful in their field, and they would say "sipag at tiyaga" (hardwork and patience) and through proper investment and channel; but we still struggle on this subject in real life. Why?
What is the main factor?
Many will say that it is easier said than done. Some of reasons we might hear, "My salary is just enough for my daily expenses", "I will save when my salary is high", "I don't have the talent to be successful", "I don't have enough money to start a business", "they have better luck than me" (many believe in luck/ chances, but I believe in blessings from God), etc., etc... Saying these lines will not make you financially free; these are excuses that we make up in our mind in order not to do something about it.
It starts with YOU!
Saving and investing like any other things in life, takes a lot of effort, determination, dedication, focus, perseverance, patience, hard work, self-control and of course, the most important thing, prayer and faith in God (always the first thing that we must have). We have to believe that God wants to bless us so we need to prepare ourselves for the blessings. Blessing and wisdom will flow if we ask for it in prayer and doing something even if we “think” that we have small gifts or talents or resources. Believing and faith in God will do great miracles in you.
In order to be prepared, we need to decide to do something and consequently, desire to make it happen. Not like the typical story of Juan Tamad, waiting for something to happen without doing anything. Decision is not enough to make things happen, we have to act on it. We need to have the desire to save and invest to be financially free someday. In desiring about things, we also have to check our motive, why do I want to become financially free? Why do I want to be rich? We have to determine the motives behind our desire because this will determine how we plan and do things. The right motive (for me) should be to reward ourselves, bless our family and other people. This will make our God glad and give us more abundance to bless others (please read 2 Cor. 9).
Our decision, desire, motive will inspire us to move forward and start to change what we need to change within ourselves. It may be our habits, mentality, character, focus, goal, internal motives and many other things (we will discover them one by one, once we are in that position). Remember, it all starts within you.
“Appreciate the people and things you have and be thankful for them. Ask God for wisdom on how to use the gifts he has given you for His greater glory.”
Delayed Gratification
In Psychology they have this term “delayed gratification”. This denotes a person’s ability to wait in order to obtain something that he or she wants. This intellectual attribute is also called impulse control, will power, self control, and "low" time preference. In simpler term, waiting.
"There is time for everything, and a season for every activity under the heavens" (Ecclesiastes 3:1)
This is where we fail, we usually want instant returns, become instant millionaire (that’s why we resort to different kinds of gambling or sometimes being fooled by modus operandi of a gang), we want to satisfy our wants right NOW! If we want to obtain something, we need to wait and control ourselves. Our willpower is tested when we are able to control our desire for a new phone (latest version), car (latest model), laptop (latest edition), house & lot, condominium units, etc..., when you don’t have the money to buy these luxuries. Then if you passed the test and save the money for your investments, your reward: you can buy all those items without thinking twice. But I doubt if you will buy them, after you learned to invest rather than spend.
Learn to live simple lives
To make it easier for you to save, the basic thing you need to do is to live a simple life. I mean, having the things you need to live or survive. Such as having a house and lot (shelter), eating at least 3 times a day (food), comfortable clothes (clothing), a mobile phone that can call and send SMS (with camera will be good), a laptop that is user-friendly, etc… You don’t need to live an extravagant life, but you want to achieve something close to that; then you must learn to pray, wait, act (live within your means so that you can save and invest), then enjoy and share.
Start small and NOW
You are worried that you don’t have enough money to start investing, well, live simple life to save or be creative and learn to use your talent/ gift/ resources to have a extra income, then start small. But this time, don’t delay or don’t wait until you have enough money (because there will never be enough).
Remember David and Goliath. David was able to defeat the giant Goliath with a sling shot. Likewise, do not underestimate the small amount you save or invest, time is your best ally. You know at age 28, when you diligently save Php10,000 a month (that's Php120,000) with 20% interest per annum (right investment), you will retire (at age 60) as a multi-millionaire (that is the power of waiting and starting small and of course prayer). What more if you started it as early as age 15, you will retire a billionaire (Wow! That’s a huge amount of money!). How? Develop the habit of saving small amount and investing them in a good investment. However, in investing you need to know the different types of investment that will suit you. In this area, the internet and other media can help you maximize your potential as an investor.
Remember you can be financially free if you want to.
I pray for abundance in our life to love and bless others.
God bless us more,
Psyche
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