Woah!
Who would have thought I'd ever be some informal financial adviser of sorts? The way I described it makes it obvious that I'm not taking myself seriously. And that is kinda true because, hello, I don't have certificates under my belt!
But the calling to help other people fix the financial aspect of their lives? I'm taking it very seriously.
This friend of mine, her financial life is not really in shambles. Let's just say she made a few wrong decisions along the way, and now it's time to right those wrongs. And I'm so excited! I can't deny the joy I feel to be part of someone's journey to financial freedom.
Carried Away
During that conversation, I wanted to give her a crash course of everything I came to know about personal finance! She already tithes, so I wanted to tell her about budgeting, emergency funds, investing. Oh I could go on and on!
But thank God for he kept me from getting carried away. He whispered, "Wait. Doesn't she need to go through the first step first?"
Oh yeah. I almost forgot.
Some People Never Look; They Just Jump
I see a lot of people jumping into multi-level marketing and investment operations without ever doing research. Some end up getting scammed. Some do earn a lot of money but end up spending it all anyway because, well, they don't know what to do with it. They don't know how to handle money.
And Some Never Make Any Move at All
But most are on the other end of the spectrum. They stay tottering on that side of the line and they just stay there, precariously balancing. They sit there, twiddling their thumbs, waiting for something to happen - unfortunately for a very long time, unfortunately until it's too late. These are the people who work 8-5 jobs, save all their money in the bank, and during their old age, have to live on meager pension. Because they, too, don't know what to do.
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Study Now, Do Later
My friends, your first investment is not in the stock market, not in the bank, not in the insurance. Your first investment is in you: your knowledge.
You see, before you do anything about money, you need to study first. I admit that I never had any formal education on finance. But I tried to do what I could do, and that was to read a lot. In almost a year, I read a lot of books and articles about personal finance before I took a single step.
In my opinion, no crash course can ever equal that year of learning.
So I told my friend that in order for her to understand the perspective, she needs to do an assignment. I told her to read this particular book, which may open her mind to realizing how money really works.
Can you guess what that book is?
It's Bo Sanchez's My Maid Invests in the Stock Market.
Why I Recommend It
I am a Born-Again Christian (by faith), so Bo Sanchez is not my leader. I just want to make that clear so that I won't sound biased. But this book of his, I recommend it to everyone I know. Why? Here are my reasons:
1. It's the first financial book I ever read. It's the one that opened my mind to the beautiful world of investing. I figure, if it worked for me, why won't it work for them?
2. The book is really short that it can be read in one sitting. It's perfect for busy people who doesn't have an entire day to read.
3. It is written using simple words. There's no financial jargon at all so it's perfect for total beginners who don't know anything about finance. Just like me before.
4. Bo uses simple but clear examples to illustrate how concepts work. For example, he cites a simple situation at home that clarifies how stocks work.
5. It's free. I don't break any law by distributing copies of it.
So there. These are the reasons why I recommend it as someone's first book to read to learn about personal finance.
Why Read a Book? Why Don't You Just Tell Me What to Do?
Because I believe that for change to take root in a person, that person must be the one doing the changing.
For example, if you give me a makeover, I'll be glamorous for a day. But if you teach me how to do my hair and makeup, I can be glamorous any day I want.
It's the same with personal finance. If you want to fix your financial life, you must be the one doing the learning. You can't be passive in something that's so important. My role is just to help you and guide you and cheer you on. Then maybe you can buy me cake.
I'm glad my friend took the first step. What about you?
PS: She just sent me this message over Facebook: "Tears of JOY! GRABE I CANT WAIT! But I will wait. Grabe nako ka blessed sa book!"
PPS: If you want a copy of the book, leave your email address in the comments. :-)
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