BEWARE OF SCAM:
MIDYEAR BONUS
BEWARE OF SCAMS AND AVOID IT! HOW?
This is the
time of the year when most of the employed Pinoys receive their salary bonuses.
You can call it Mid-year bonus, 13th month pay, Extra Salary Bonus,
and some employee also receive up to 16th month pay up to 20th
month pay to exaggerate! Many wildly wait for the wonderful blessing of this
extra paycheck. “Yehey! Bonus na!” (Yehey! We got the bonus!”) , the next line is “Ano kaya bibilhin ko?” (What will I buy?), “ Saan ko kaya gagamitin?” (Where
will I use it?). Then Pinoy will go to the mall, search the internet, and
BOOOM! He finally found the “cool” item he wants to buy or want to do. But the
sad part of this is some our friend Pinoys fell into the “DECEPTION and SCAM” of the Mid-year bonus.
Due to
lack of financial intelligence and discipline many Pinoys fell into debt
traps of this BIG TIME SCAM scheme.
We will discuss the following reasons why MIDYEAR
BONUS is a scam.
SCAM
#1: They use their
midyear bonus for a BINGE, UNPLANNED
PARTY. Friend Pinoy spends his money to bar hopping, house party, etc.
Because he is not used to having the extra money, he spend it right away and
back to his normal state of living paycheck to paycheck. (Groan!)
SCAM #2: They use it for BUYING UNNECESSARY STUFFS; they buy house appliances and apparel, blender, microwave, shoes, jacket, rah rah rah! And they convince themselves that they really need that stuffs which they will only use for 3-5 times. Worst they did not use it at all! (Palm in the face!)
SCAM
#3: They buy
another gadget that they don’t really
need at all because they just want to “SHOW
OFF” to their colleagues that they “GOT
IT”. They want to impress other people for the sake of their financial
liabilities. STATUS QUO?
SCAM
#4: And one of the GRANDEST SCAM that we will mention is
our friend Pinoy use his precious mid-year bonus as a down payment for installment deals to buy some perks such as
gadgets (cellphone, tablet, etc.) , cars, even houses and condo units. They
have been hyped-up and emotionally
pushed that they believe they really need it. Some even borrow money just
to chip in for the down payment. Some of our fellow Pinoy without the proper
mindset and conditioning as well as discipline fell into debt trap because they
can no longer pay the monthly amortizations and fees of the “ASSET”.
SCAM
#5: Another great scam is they think they know how
to invest or risk their money in some
quick-rich schemes, invest their money and in the blink of an eye. Or
invest in investment vehicles without studying first the know-hows. BOOOOOM!
Hard work money earned In, Fast Cash disappeared. I think you know what I mean.
The SCAMS that were listed above are just few of the many. Friend, my tips that I can give to you is invest in yourself. Yes! You, yourself is your greatest investment. And what may you have learned, apply it! “Education without execution is extinction” – Bo Sanchez
The SCAMS that were listed above are just few of the many. Friend, my tips that I can give to you is invest in yourself. Yes! You, yourself is your greatest investment. And what may you have learned, apply it! “Education without execution is extinction” – Bo Sanchez
You should read books, read
self-help articles to increase your financial IQ before you start venturing
with investments. You can also attend
our attend our FREE Financial Coaching Seminar: Register for the FREE FINANCIAL COACHING
BEWARE
OF SCAMS AND AVOID IT! EDUCATE YOURSELF! EXPERIENCE ABUNDANCE!
Experience Abundance:
Experience Abundance: