Friday, June 27, 2014




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
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


Experience Abundance: 

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