MANILA, Philippines—Feeling the brunt of rising prices, Judith Calleja, a 36-year-old mother of two girls, tells her daughters to learn how to save.
She knows poverty by heart—she never finished high school and had to work at a young age—and it is something she wishes her children would not go through.
“I want them to learn how to save money while they are still young,” Judith says. Life is getting harder and what her husband earns as a seaman is barely enough for their needs.
But her eldest daughter Jovy Ann, a fifth grader in Liliw, Laguna, usually spends all of her P25 allowance every day. She knows it is important to save—her mother constantly tells her to do so—but she has not started.
The Department of Education (DepEd) wants to help her and other public schoolchildren start doing so.
“We want to educate our young people on financial literacy—what money is, how to use it properly and how to make it grow,” Education Assistant Secretary Jonathan Malaya says.
By Edson C. Tandoc Jr.
Philippine Daily Inquirer
First Posted 02:52:00 11/25/2008
This is the post from www.inquirer.net. The question is how will they teach the students financial literacy? Financial technologies and strategies are changing rapidly. Do they have enough resources and tools to be used in teaching financial literacy? Who will teach the students? If the teachers themselves mostly are struggling financially, could they transfer the skills to our children? You cannot give what you don’t have. There’s still a lot of questions how are they going to implement it. Hopefully, DepEd could come up with good curriculum and resources so that our children could be more equipped as they face the real world when they go out of the four corners of the classroom.
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I went to the mall yesterday, a little disappointed because I can't access my Gmail and I can't post my blog article regarding RK's book. I happen to see pass through this store and see this guy in black shirt intensely looking at HDTV for sale. A voice rang in my ears..Oooops! That's a doodad!
Doodads is a term to anything we buy beyond our basic needs which doesn't increase in value. Those are expenses which we could put in category called unnecessary expenses with no return in investment. we buy it because we want it even if it's beyond our means to afford it.
What other Doodads you might think right now and why do you consider it as a Doodad?
Feel free to post your entry in the comment section below.
Are you wrestling with any of these problems?
- You’re struggling along from paycheck to paycheck?
- Your job is becoming obsolete?
- You hate your work
- You’ve reached a promotion plateau
- You’re earning too little to ever afford your dreams
- You’ve got too little stored away to live comfortably in retirement
If you will not act today, you’ll be left behind. If you’re like most of us, your school did little to prepare you for the challenges of the real world. They are likely to have planted seeds of financial and emotional failures in life. These seeds sprout later, sabotaging our most sincere attempts to get ahead and create happy, prosperous lives for ourselves and our families.
Meet your competitors in life if you won’t act now
Six-year-old kids in a Primary School where my wife is teaching are learning to use video cameras to explore their world and record it. Within two days of starting Grade One, they're using Apple iMovie software to edit videos they have shot, before adding their own animations. Remember, they're only 6.
A friend of mine is teaching macromedia to grade 3 students, doing simple animations and multi-media, in a school in Pasig. What the heck is macromedia? The Department of Education has made curriculums to teach financial literacy programs. Their will be and additional subject of stock trading and forex. Probably, our education system is slowly waking up from the stagnant progress of our graduates year by year.
Robert Kiyosaki wrote one of his first book If you want to be Rich and Happy, Don’t go to School. I bought it last year 2000. It shows you how to identify reverse the harmful programming you unconsciously received in the classroom and learn new habits that will set you up for financial and emotional success right now.
Before I read RichDad, PoorDad, this book change my view point in life and how to prepare in this competitive world.
How do you live my life? Do you just repeat your life 365 times in a year? Do you see your life going nowhere like what we call living in a rat race? We want progress but don’t know where to start. You already played cashflow 101 but still have financial struggle? We are afraid and uncomfortable of change because of our comfort zones.
Here are 3 Great Steps that could help you start financial progress:
List down your Vision – sounds very familiar but in real life only few people writes their vision in life. The book of Proverbs says where there is no vision, the people perish. I’m newly married and currently, I revised my vision in life. One part of it is to build a household of faith serving God together as a family being good stewards of our finances.
Write your Objectives - Objectives are strategic positions or moves to be attained with the purpose to achieve your Vision. So let’s say my dream is that by the age of 40 I will be financially free. What will be my strategy to get there in order to fulfill my dreams and vision? Ask your self, how can I get there? What will be my vehicle or to get there? It could be a bicycle, a car, plane or a jet plane. The same with the cashflow game, you could be an employee-bicycle, self-employed-a car, a businessman-a plane or an Investor-a Jet plane. It depends on how fast you want to achieve your financial freedom.
Write your Goals – a goal is different from objectives. A goal is measurable. It tells you how are you doing with your strategy. Like in the cashflow game, what are your goals I terms of your passive income? How much passive income is your goal as you build businesses and find good investments per month? Like what Mr. Condo Investor’s financial goal for the year 2009 is P500,000 monthly passive income this year. So for sure, he has small goals to reach each month.
My own strategy right now is to build three online businesses this year that could yield P150,000 more passive income to what I have today. One is for our family business in trucking and freight forwarding category, the second is in tourism industry and the third one is online marketing.
I want you to share to everyone your insights and tips you’ve learn from Cashflow 101 in your journey to financial freedom. Please e-mail your article at cashflowfreedomnow@gmail.com. Please include your name or code name as your name will be posted as the contributing author.
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I was surfing the net last Friday, when I decided to visit PinoyMoneyTalk.com and found out that Mr. CondoInvestor is holding a second Cashflow Game for free. I was amazed of the number of people who signed up in the forum thread. The thread says 50 people could be accommodated but there were already around a hundred! I said to my self, I’m too late to hear this announcement from PMT but then I decided to go anyway just to check how they are doing it.
The next day, I decided to bring my own Cashflow Game so that if there will be no enough board games I could share it, besides I was not able to preregister online to join maybe they would let me if I would share something. It’s my joy to share and play with likeminded people.
I was surprised that Mr. CondoInvestor is my long time friend conducting the event! Suddenly I felt at home! The venue was in McDonalds Guadalupe. The setting was so casual packed with tables and chairs. There’s a projector and screen at front and some stuffs needed for the event.
Mr. CondoInvestor and I had talked about lot of things.
Meanwhile, I noticed the different groups of people. There are young professionals, salespeople, businessmen, realtors and so on. I’ve seen different moods between different groups. You’ll hear them laughing, there were some who were intensed because competitiveness, some faces are puzzled, thrilled but the most common thing I could see is the excitement in there faces. I could remember when I first played Cashflow board game last 2000, which I bought 101 and 202 versions through Amazon.com. The same f
eeling of excitement that I felt in discovering and learning the Financial Principles taught by the game.
I could remember the first time I applied the Cashflow game with my first business, a Computer Shop Rental in PUP area where I first met Mr. CondoInvestor. Please don't laugh at my picture...I was so tired fixing after a virus struck my network. This is a horrible picture!
These are things that I learned in the event:
- You have to have a dream and never, never let it die.
- Never think like others think. Popular thinking is average thinking. You have to think like how the rich think if you want to be rich.
- Consistency and perseverance. These two words are different. Consistency is continually doing something until there is opposition but perseverance is taking the course and keep pursuing your dream in spite of opposition and failures.
- Fill your surrounding with positive people. Go with the dream boosters not dream busters.
- Think possibility. I was listening to some conversations during the game period and I heard some who says it can’t be done. I tried to give some ideas to some people I talked to, but sad to hear them say "I did it before" or "it won’t work."
- Reality check. Think of where you are now. Take time to have reflective thinking. After pointing out where you are now, ask yourself where do you want to be in 5 years and then think of what do you need to do to reach your destination.
- Give back. Giving back very important. If you’ve reached success then turn your success into significance. Success will not last, significance will. That’s what Mr. CondoInvestor is doing right now.
