From Waldas to being Wise!

I am half Ilocana half Ilongga. My dad was from Tarlac while my mom originated from Capiz. They met in Manila so me and my siblings grew up here. Every summer vacation, my mom brings us to Tarlac (I can say that being there with my cousins was the best part of my childhood days). I learned how to speak in Ilocano and I can understand a little bit of Visaya.

I told you that first so that you’ll know that I have an Ilocano blood. There is a saying that Ilocano’s are frugal, but I don’t think I am one. Maybe I’m not born to be frugal but I can learn to be one.

Waldas!!! yan ang tawag sa’kin ng nanay ko. Wala sa bokabularyo ko ang salitang “ipon”. I was born in a poor family, that’s why when I had the opportunity to have my own money, I bought things I did not have before, ate food  I’ve never tasted and I want to experience the lives of the rich and famous. 

With my spending habits, ang credit card balance ko abot hanggang leeg. Nung nag resign sa trabaho ang lola nyo, I had a lot of remaining credit cards balances and that’s when I woke up to the sad truth. 

I read financial books. I learned to do budgeting,  to prioritize what’s important, to separate wants and needs, to control what goes out from my small wallet and just live simply and live within our means.

Yes I don’t buy new bags and shoes every now and then anymore.

I can’t call myself kuripot because I am not. Especially when it concerns with my family’s needs. I am far from being a pro in terms of handling finances and even in investing, pero compared with my spending habits before I consider myself now as a better person.

If you think budgeting is hard for those who have a fixed income every 15th and 30th of the month, then it is harder for us who are irregular income earners.

These are my financial goals:

• Try to stick within your budget
• Avoid borrowing. If you have debt, pay it first.
• Have a life insurance and emergency funds (read my post about Variable Life Insurance HERE)
• Make your money work for you, not the other way around.

I failed in handling money before, but I still get back on my feet and pray that everything will be alright in the future.  Mabuhay ang mga wais na nanay!