Thursday, November 20, 2014

My Dark Ages in Financial Literacy

Work, work, work, and MORE WORK.... I thought this is what I thought financial freedom should be. If I work, I would have a penny to somehow bring me to financial freedom to the point of buying everything I want.

Fast forward after my university days. Excited as I am to finally have a chance to look for a better job who could at least pay me enough for what I have been dreaming off was the start of my so called dark ages of financial freedom.

I built and plan my career, I made sure that I my timeline and career path is followed strictly... I told myself that each step I successfully made would mean I will land to a better and very well compensated company and with that I will be able to buy whatever I want.

I was able to be successful in reaching the company I ever wanted and the salary I ever wanted. Definitely it is good because I was able to prove that I can make it for as long as I am persistent and definitely hard work along with good career planning. However, it realized the hard way that it is not a guarantee for financial freedom.

Over the weekend, I am chatting with my neighbor about the struggle we have to undergo just for us to get a housing loan. My neighbor is a plain housewife with three elementary kids and a husband who works with a minimum wage. They were able to extend their house, tiled the floor, move the comfort room and had a concrete divider and changed their windows. They accomplished 85% more than what I accomplished.

This is my eye opener that a true financial freedom is not measured by how much is your monthly income but rather it is measured by how much you save out of your salary. I have higher compensation versus them but I am in huge debt, I don't have savings in the bank, and I accomplished only 15% compared to how far they've accomplished in their home improvement.

I told myself that this is the proof of being financially incapable of managing my resources. My future action then would either tell me if I fail the challenge to become financial literate and if I am capable of handling my finances and saving for my future. I wanted to retire at 50. In order to do so, I should have plans on how to achieve such goals.

I will be sharing that story in the coming days or months.

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