“Many bricks make a castle. Small leaks sink ships.”
There is truth to the proverbs above. Most major events in our life happen as a result of small, insignificant- looking choices that we do everyday. Bricks, no matter how small, are the building blocks of a huge castle. Small leaks, no matter how insignificant as it looks, sink ships of the largest size.
Same with our lives. Given enough time, our action today ripples to the distant future. The million peso salary that we earn during our contract could disappear in a few months. There are just so many expenses that we have including people who want to have a piece of our money.
But fear not. Let’s focus on the bricks that build the castle. These are the little actions that we do each day that saves various amounts of money. You might know a friend who struggles on keeping the ends meet during vacation. This article can save him.
- Avoid negative debts. Negative debts are any form of debts that do not help you put more money in your pocket. It could get you a lot of trouble if you start running into debts. Keep in mind that they are disguised in many forms. Credit cards, buy-now-pay-later products, loans, installments, borrowings and a three-month payment schemes are some of their fancy names.
- Avoid debtors (mangungutang). Sometimes, a friend asks you for money because of her financial trouble or some form of emergency. It would be very difficult for us to directly slam the door to them without giving any good reason to do so. The best approach would be to scrutinize why and how her problem came up in the first place. If it has been a recurring problem, then think twice before giving her money. I will be discussing a more detailed approach on this the next few days.
- Tuition fee is not an emergency. Your emergency fund should be used for emergencies like unexpected longer vacation, a family member got sick, calamity that ravaged your home and any other unforseen event that requires money. Fortunately, tuition fee is not one of them.
- Control your urges for gambling. Gambling is permitted as long as you set a stop maneuver for it. This limit is usually stated on your budget plan. If you can’t control your urges to gamble more after losing, all the listed tipid tips are useless. You might need to hit a rock bottom before you stop. Betting your house and losing it would be a good lesson.
- Faithfully follow through your budget. At first, it would be very difficult to adjust your life if you are following your budget. You may feel like your freedom is reduced. That is not the point. It may seem uncomfortable at first but remember that you are doing this for the future of your family. Stick to your budget as honestly as you can. Once you get used to it, amazing things will happen.
Before you spend, analyze how it will affect your financial life. Braving against the crowd is difficult but pays very well in the future. Notice what some people say like,
“Pera mo yan. Dapat bilhin mo ang mga bagay na gusto mo,”
and see how their life runs. If they are better than yours, that may be a good advice. If not, think twice about it.
Are you focusing on the small leaks that sink ships or the bricks that build castles?
May the winds be on your favor.