Pinoy Business Coach

When you are single, have a great job and a little aloof from Earth, one tends to spend and place money where it does not grow or in places where it (money) evaporates.  The urge to spend on toys that are economically "useless", fashion trends that make you cringe and other items that rich people tend to have.  A difficult mindset to break or change is the habit of irresponsibility towards finances.  That is your typical Pinoy yuppie.

With a lot of disposal income at their side due to the fact of being single and having no families support, it is my opinion that most of our working youth do not have superior responsibility over their money.  If they refuse to take responsibility on their money then you can be sure that the thought of financial planning over a lifetime has escaped their minds.  I am not saying that all have beckoned to this state of mind but with the powerful influences of media and their marketing tactics, the majority succumb to what I call "social hypnotism", a sophisticated coined phrase for 'pogi points'.

Our school system is not helping with the situation and the curriculum is failing miserably in creating an army of Entrepreneurs.  Instead of creating business people, we are creating ready employees, dying to go abroad and earn a leveraged denomination, often at the expense of their very own families. 

What our country has overlooked with the surging inflow of remittances is the risk of exposure that our OFWs face when something goes wrong in countries where they are employed.  Check this article from the Inquirer (click HERE for the original source) and see for yourself how lives are threatened. 

Employment abroad is not inherently bad, I am simply proposing other avenues that will create greater impact on Philippine society and that is the option of teaching our kids financial responsibility and financial education.  It would also be naive to think that every person in this country would succeed in business but if a lot of our citizens would only give it a try then they would know for themselves.  Mistakes will be there but in the learning process that is how we learn--- through our blunders.

Running and growing a business is not an easy walk in the park.  Whoever has not encountered problems in business has either no business or has gone broke. If you are a yuppie, we urge you to educate yourself in the different rudiments of saving & investing before you get devoured by the many mobile phones that you carry around with you and the many gadgets that eat your time.

The future will belong to those who have applied their financial information before any economic collapse.  Are governments going to fail?  Of course, this has happened many times in history and wealth transfers can occur especially when generals get 50 Million Peso kick-backs.

Well, if you decide to continue with your financially irresponsibility then prepare to do the following options:

1. Marry a wealthy husband or spouse (a favorite sport)
2. Sell illegal paraphernalia (shabu, marijuana)
3. Find a wealthy relative to inherit riches from.

If you can stomach the options I sighted above, then you have what it takes to be rich in the fastest time possible, not sustainable but possible.