Saturday, February 16, 2013

ROLE of MONEY in our LIVES


Money defined in the dictionary Merriam Webster, 1. Something generally accepted as a medium of exchange, a measure of value, or a means of payment.

What role does money really play in our lives?

I was born in a family of entrepreneurs. I always thought that money is made to be spent. I started making money at an early age of 12. My family would go on buying trips abroad and I would use my pocket money to buy knick-knacks, especially in the 70s when sanrio was a big hit. We would go to Japan’s wholesale district in bacarucho and that was heaven for me. Ones I like an item, I would buy it in bulk usually in 6s or dozens (cheaper that way) than single pieces. I would get one for myself (that’s my advertising cost) the rest I sell to friends and family. My thinking was that, if I like it why won’t others. That went on until the 80s when I would buy stuff in hongkong, I remember the raybans look alike in the night market. I’d buy dozens and dozens of different kind and sell to my classmates (without the nuns knowing). Wow! I made so much money. I was exhilarated and bought myself a drawstring Louis Vuitton bucket bag at the hongkong peninsula. That went on until college when I, together with my family opened, ritratto, a mens and women’s boutique that catered to the young urban professionals. In this business, I was exposed to so much fashion eye candy that made me buy whatever I fancy. One day I asked myself where is all that I worked for going to? My credit card bill skyrocketed and I have no balance in my account. My Louis Vuitton bag now has deteriorated. My daughter can’t even use it anymore fixing it and having it rehabilitated would cost me close to buying another one. That brings me back to the question again that has been lurking inside me. Where do all these “working for my money lead to?”

As I have matured (this I’d like to think so J) in my life journey and now a financial planner and wealth manager. I have come to realize and believe that from the day we are born until the day we join our creator (even after) Hello funeral expenses! we need money. Every stage in our life money is essential to make to accomplish and make things happen.

Lets start with the basic- upon giving birth, can you leave the hospital without paying for your doctors, operating rooms, nursery, medicines and others. I am not being materialistic, just practical. Being practical for daily living for ones existence.

Moving on, 5-7 years after, this child (lets call him sonny) will go to school, guess what? Money will be needed for all related expenses directly for the sonny’s education. After school, sonny will work, get married, and have kids of his own. He will then retire and be in his golden years. My question, in what stage in his life here didn't he use money to move forward and have a decent living?

This brings me to end my article, that money is to be made to use for our existence. It should NOT rule our lives but enhance it by making the right choices to be able to provide a respectable life for us and our family.

Money shouldn’t rule you nor make your world go round but rather make choices that money could provide to be a blessing and share to others. We all have our god given talents, talents that we are naturally good at. This is the capital that he has provided us with. Use these gifts and share it with others. You will be happier and you will be richer J