Filipinos have different views about money and investing. On my previous article, I shared with you 3 common Filipino beliefs about money. Those three are beliefs that connected with religion and faith.
Now, let me share with you another 3 common beliefs that make Filipinos never invest for their future. I also shared my views about this belief, and why it should never be believed in anymore…
“I don’t want to lose money!”, “I’m afraid of losing.”
Most Filipinos are afraid of losing. They don’t want to “give away” their money on any investment because of the fear of what might happen. Maybe because in their past, they have been scammed on an investment. Or maybe the companies they have invested to have been broke. Or their friends or neighbor experienced such.
Well, those are just mistakes that made them lose portion of their money. But Robert Kiyosaki said in their (co-author with Donald Trump) book Midas’ Touch, that in order to be successful, you must learn how to turn your bad luck into good luck. For every failure you have done, you must have learned something new that will make you into a better person.
Both Robert Kiyosaki and Donald Trump have failed. And they are not afraid of failing again so they keep on moving! Look at them today, they belong to the richest men in the world.
Do you think investors like losing their money?
Of course not!
Successful people always have positive attitude when they fail. They use their failure as an inspiration. They are not afraid of losing, but they hate losing. So what do they do when they lose?
They study. Then study again.
They might lose their money, but never their determination, hope and focus.
You might lose some money before, but never shall you lose your determination and focus.
“It’s just another expense.”
Filipinos are known to be “kuripot” or thrifty. In terms of consumption, most Filipinos prefer the cheaper ones. They want to save as much as they can. But they don’t want to invest their money. They only want to keep their money. When you suggest to get an insurance, all they can see is just an additional monthly expenses. They do not appreciate the future bigger value of the money they call “expense”.
These people do not know the principle of paying yourself first. After getting their salary, they immediately pay the bills. But never pay for their future needs, through investment.
My friend, investing is not an expense! It’s too different from your monthly bills. Your money that goes to your investment is still yours, but not the monthly bills you are paying.
“I’m not good in numbers. I can’t understand graphs and charts.”
Many Filipinos chill when they encounter mathematics. When it comes to money and investing, they often think of it as numbers and figures, which they think they will never understand.
In reality, investment speaks numbers but far differ in mathematics at schools.
If you want to invest, you don’t need to master the language of investing. You just need to understand it, but never need to spend most of your life analyzing the numbers, graphs and charts.
I suggest to get a mentor when you want to start your investment. Our mentor is Bro. Bo Sanchez, and with the help of his team Truly Rich Makers we are continuously learning how to invest the right way! J
Philippines has many hidden treasures. In this modern day, the Philippine economy is growing. You can take advantage of our booming economy, just take time to study how. There is a massive amount of treasures waiting for you, if only you put away those Filipino negative beliefs about money and investing! Start investing today and achieve your financial freedom! :) Attend free financial seminar! Register here: Truly Rich 101