Finance Fridays: Why I'm Deadset on Being Rich

Wait, what? 6 posts in 5 days? I'm on a roll! Rowll!
Actually, I composed this post last night (midnight) because I couldn't sleep yet. I can't publish this on Saturday because it has something to do with finance, at napapabayaan ko na ang aking Finance Fridays. Anyway, here it goes.

Photo: oprah.com

We have different opinions on the rich. I might consider someone rich; you might not. Me? I don't need a BMW or a sprawling estate to call myself rich. When the time comes that I become financially-free, that would be the time I would consider myself a rich woman.

What is being financially-free? It means not having to worry about the next paycheck. It means not having to worry when someone in the family gets sick. It means being able to give without needing to take back. It means making money work for you.

It might be pretty easy to assume that we all want to be rich. However, the truth is that we're afraid to be rich. Somehow, it is taboo among us, Filipinos, to have that kind of ambition. Why? Because we equate money to evil. We view poverty as a virtue.

That's a myth. Money is not the root of evil: the love of it is (1 Timothy 6:10).

Photo: myrisenjesus.com

Still not convinced? You knew this was coming. I want to be truly rich, and here are my reasons:

1. I don't want to live from paycheck to paycheck.

Photo: finance.yahoo.com

When I started working (and honestly, sometimes now), my biggest problem was this: there's too much month at the end of the money. My paycheck has already dried up, and there are still 10 days before the next payday. It's a really terrifying feeling. If it was terrifying for me, how would it feel for someone who has mouths to feed?

I want to be financially-free because there should be more money at the end of the month. I shouldn't have to worry if the next paycheck is late; I shouldn't have to wait until dark for my salary.

2. I don't have to worry a storm in times of emergency.

Photo: www.marketintelligencecenter.com

The first step on the road to being rich is setting up an emergency fund. I believe this fund is the foundation of your success. It will keep me from withdrawing that stock investment or encashing that government bond.

More importantly, it will keep me from worrying when Yuri's food supply has run out. It will take care of surprise vaccine appointments. Personally, I set aside almost 10% of my income; Job sets aside 20% of his.

3. I want the confidence of knowing I can afford the better things in life.

Photo: www.forbes.com

But choose not to buy them anyway.
Don't you think it feels great to know you can afford to buy an LV but buy a Longchamp and invest the difference instead? In my opinion, that is eons better than buying the LV - on credit.

I am not ashamed to admit that I get attracted to designer handbags. However, even though people my age go through them like boyfriends, I know even though one day I will be able to afford to buy several, I will choose not to. The satisfaction of knowing you can afford them is enough - and I got that from my momma.

4. I want to be able to spoil my loved ones.

Photo: www.businessinsider.com

Although I'm kuripot when it comes to my own wants, the same is not true when it comes to my loved ones. I'm an indulger, a spoiler, and even though financial advisors will berate me on this, my heart won't probably take it if my son looks longingly at a toy (or book) but knows his parents can't afford it.

Why? Because I've been there. A lot of times. So even though I love my parents, I know the feeling of being left out just because I didn't have the same Polly Pocket as my peers had. It might seem trivial, but well, it really sucks.

Since I also plan to teach my child(ren) smart financial moves, I want to see them look longingly at a toy and not buy it not because we couldn't afford it but because they want to save for it.

5. I want leave my family knowing they are secure.

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We won't be here forever. Even though my children will grow up finanncially-savvy, I want their future to be secure while we are here. Morbid, I know, but a lot of children's educations have abruptly stopped due to the loss of a parent. I should know: my cousins were in this plight long ago.

I want our children to thank us for leaving them secure and not curse us for not planning ahead.

6. Finally, I want to be rich because it is God's plan for me.

Photo: www.revivallifestyle.com

Actually, it is God's plan for you, too. We have wrongly connected money to evil when in fact, Jesus talked about money more than any topic! Did you know there are more than 2,000 Biblical verses about money? He had spoken in parables to teach us the basic principles of money - and investing, no less!

Before you get the wrong idea, let me get things straight. The Lord wants us to be rich to be a blessing to other people. Sorry but I don't think hoarding Hermes Birkins in all colors is part of the plan. In reality, it is us that answers our neighbor's prayers. It is some people's money that keeps other people alive.

A. Personally, I want to be able to tithe more than 10%. Tithing is really a wonderful act; frankly, if you need a stress-reliever, tithe. You might just have needed to release that extra burden.

B. I also feel a strong pull toward supporting charities for children. I have always had a soft spot for them, way way before I became a mother. If God permits, I want to build a charitable organization of my own. (Back in college, my sis, Teena, brod, Ian, and I planned to build an orphanage. Who knows?)

C. Finally, I want to create jobs. Job and I actually share this ambition. Maybe that's why we never settled for mainstream employment. Of course, how can one create jobs without the resources?