"Ber" months is the most exciting season of all! Right?
Coz "Ber" months is the season where most money come pouring in our bank accounts -- name it, 13th month pay, mid-year bonus, year-end bonus, Christmas bonus, even tax rebate! Add to that your salary coz during December, you get paid even on a holiday!
I know how it feels man! The excitement of seeing the double to triple digits in your bank account come bonus day is enough to make someone jump in the air with matching fist pump!
But, "Ber" months is also "BARE" months.
Financially speaking, this is the season where most people end up with BARE pockets and wallets as the money they receive at this time of the season is used to pay off existing loans or debts accumulated earlier in the year.
This is also the season where we see the flashing SALEsign every where we go and the temptation to buy an item just because we CAN buy it without ever thinking about the NEED for it. In other words, we liked buying on IMPULSE at this time of the year coz it's so much easier to pull out money from our pockets during bonus season.
Undeniably, we Filipinos (including I) are used to the habit of spending beyond our means every time we get a higher than expected paycheck. The practice of spending a lot at the earlier months of the year and acquiring debts to pay off once we receive bigger funds during the "Ber" months has become a never-ending cycle of living on two numbers -- 15th and 30th or 10th and 25th in order to get by.
Since we are blinded by the amount of income that we will be receiving at the end of the year and our mind is set to receive a larger than usual lump sum, we tend to spend as much as what we expect to earn. By the following year, we end up again being broke. And the cycle goes on.
How do we break the BROKE cycle?
The first step to CHANGE is always AWARENESS.
Be aware of your spending habits. Know your monthly expense by tracking it down so you wont acquire debts to pay off come "Ber" months so your bonus doesn't go to paying off liabilities. There are a lot of mobile expense tracker apps that you can download. Try planning on a budget so in that way, you avoid spending above your means.
Change your mindset.
The more that you think that you'll receive a huge sum of bonus is a dangerous mindset coz the next thing you know, you'll more likely end up asking where your money went for you FAILED to PLAN how you'll be spending it. Think about how to spend it wisely.
PLAN -> INVEST -> SAVE
People fail when they fail to plan so PLAN where you'll be putting your money. Get into the habit of setting aside a portion of your income to put into money generating investments to multiply your income and set a side a portion of withdrawal amounts for "emergency funds." Remember this, an investment is never an ASSET if it doesn't put money in your pocket. It is called a LIABILITY if it just takes out money from your pocket. Clearly, the latest gadget is not considered an asset investment.
So this Christmas, spend your money wisely and know where to "deposit" it. The wise choices we make today will dictate the kind of life that we'll
live in the future. I'm pretty sure you wouldn't want to wake up on Christmas day
saying "Oops! Where did my Christmas Bonus go?"
For your Financial Freedom, for God and our Country,
A lot of people I know are allergic to insurance as an investment. Believe me, 6 years ago when I was just starting out as an employee, I was one of them.
"I'm still young and healthy, I don't need an insurance yet."
"Insurance is an expense, I have a small salary, I'm not sure if I can pay for it."
I hear myself say. And that's what I also hear from some people.
I regret saying those 6 years ago coz I should have started out early and wished that I've learned earlier how insurance can act as my safety net in case anything happens.
Gone are the days when insurance only accumulates dividends and cash values with the existence of the VUL (Variable Unit Linked) Insurance and Investment plan. It has been popular in the last decade so basically, it allows an individual to be protected and at the same time, a part of their payment is invested in mutual funds which is not offered in a traditional life insurance policy.
See how it works in this video as clearly explained by Mr. Aya Laraya of Pesos and Sense
Life Insurance + Mutual Fund Investment = VUL
If you are considering the VUL plan as an additional income generating investment, take note of the following benefits:
- With the VUL, there is FLEXIBILITY as YOU being the policy owner can decide on the amount you will place and the type of fund investment where your money will be invested depending on your financial goals and risk tolerance. You may increase or decrease your premium payments and decide whether to make the policy investment driven or insurance based.
- You as a policy owner have the option to pay more than your regular premium. Any amount in excess of your regular premium will be added to the investment or also known as "Top-up."
- You as a policy owner may choose whether to invest it in a Balanced Fund, Equity Fund or a Bond Fund, again depending on your risk tolerance which I will explain in a separate blog post.
- In a VUL plan, guaranteed cash values and dividends of traditional insurance policies are replaced with the FUND VALUE that varies depending on the amount of money invested and the performance of the chosen investment fund. Since the underlying investments are linked to stocks and bonds, there is a potential for a higher return* as compared to time deposits** and savings in a bank, giving you more earning potential for your investment.
Since
the underlying assets are linked to stocks and bonds, the returns of
the VUL plan –may exceed that of other types of insurance policies.
Since its inception 10 years ago, the average returns for an equity and
bond fund are 16.6% and 7.8% respectively* according to the Historical
Investment Performance of Investment Funds of Sun Life‘s
Variable Life Insurance Products. In contrast, dividends and
accumulation rate are now down to just four percent. And with present
economic conditions, all signs point to even lower rates in the future.
Although a VUL plan entails higher risk, the higher returns allows
the policyholder to realize his goals faster. Or better yet, achieve a
bigger fund than he initially set out for.
- See more at:
http://brighterlife.com.ph/2014/07/07/3-benefits-of-a-vul-insurance-plan/?category-ref=personal-finance#sthash.8OMyJpgG.dpuf
- In a VUL plan, in case anything happens to you and you are taken out of the picture, your beneficiaries or your family/loved ones will receive a guaranteed lump sum of money. This way, your dreams for them don't die with you because you leave them with a fund that will cover for your final expense and your dreams for your family will still live with them.
- In a VUL plan, you as a policy owner may access your FUND VALUE in case of a financial need arises as you may withdraw money from the fund. The amount withdrawn is not deducted in the face amount of the plan and does not incur any interest rate. However, I highly encourage that you do not withdraw the whole fund value as your policy may lapse and to re-invest whatever the amount you've withdrawn so that you can stay on track of your financial goal.
With this plan, you don't need to die just to enjoy the proceeds of your life insurance, you can enjoy it while you are still alive while securing your family's future.
VUL is like
having the best of both worlds! For you have guaranteed protection
benefit through insurance and wealth accumulation through investment in
your chosen mutual fund vehicle!
Life insurance is like a spare tire, It's not something that you would
want to use in the middle of the trip, but it sure does give you peace
of mind to know that it's there.
Ready to talk about this kind of investment? Schedule an appointment with me so I could personally discuss it to you and help you evaluate your investment personality and assess your financial goals. Contact me. :)
*According to the Historical Investment Performance of Investment Funds for Sun Life's Variable Insurance Products, the average return for equity and bond fund are 16.6% and 7.8% respectively. Returns are not guaranteed as past performance do not reflect future returns. Dividends and Accumulation rate in a traditional insurance is 4% conservative average.
A VUL VUL
has become the most popular insurance plan in the past decade. In
simple terms, VUL is a financial product that offers the best of both
worlds – guaranteed insurance benefit and fund accumulation. Since the
policy is linked to different asset classes such as stocks and bonds,
VUL presents earning potential that may not be offered in a traditional
policy.
If you’re considering a VUL plan to beef up your portfolio, these features of the VUL may convince you: 1) Flexible premiums
With a VUL plan, a policyholder has the option of putting in more
than the regular premium. Any amount in excess of the regular premium
becomes additional investment or top-up. In effect, the fund value
accumulates faster for the policyholder. This is great for those who are
looking for investment options for their bonuses or windfalls.
On the flip side, in the event of unforeseen financial catastrophe, a
VUL plan allows the policyholder to paying the charges only, thereby
keeping the policy in-force. Furthermore, as long as there is enough
fund value to cover the charges, a VUL policy will not lapse. 2) Potential higher returns
Since the underlying assets are linked to stocks and bonds, the
returns of the VUL plan –may exceed that of other types of insurance
policies. Since its inception 10 years ago, the average returns for an
equity and bond fund are 16.6% and 7.8% respectively* according to the
Historical Investment Performance of Investment Funds of Sun Life‘s
Variable Life Insurance Products. In contrast, dividends and
accumulation rate are now down to just four percent. And with present
economic conditions, all signs point to even lower rates in the future.
Although a VUL plan entails higher risk, the higher returns allows
the policyholder to realize his goals faster. Or better yet, achieve a
bigger fund than he initially set out for. 3) Liquidity
Just like Rod, a VUL policyholder can access the fund value in case
of financial need. Unlike in traditional policies, this is treated as a
withdrawal rather than a loan. Thus, the amount withdrawn does not incur
any interest. Better yet, the amount withdrawn is not deducted from the
face amount. However, it is highly encouraged that whatever amount was
withdrawn be reinvested again so that the policyholder remains on track
with his financial goals.
All told, VULs have helped Filipinos become savers and investors.
Now, our financial dreams become much easier to achieve with the help of
the VUL plan. *Returns are not guaranteed. Past performances do not reflect future returns.
- See more at:
http://brighterlife.com.ph/2014/07/07/3-benefits-of-a-vul-insurance-plan/?category-ref=personal-finance#sthash.8OMyJpgG.dpuf
VUL
has become the most popular insurance plan in the past decade. In
simple terms, VUL is a financial product that offers the best of both
worlds – guaranteed insurance benefit and fund accumulation. Since the
policy is linked to different asset classes such as stocks and bonds,
VUL presents earning potential that may not be offered in a traditional
policy.
If you’re considering a VUL plan to beef up your portfolio, these features of the VUL may convince you: 1) Flexible premiums
With a VUL plan, a policyholder has the option of putting in more
than the regular premium. Any amount in excess of the regular premium
becomes additional investment or top-up. In effect, the fund value
accumulates faster for the policyholder. This is great for those who are
looking for investment options for their bonuses or windfalls.
On the flip side, in the event of unforeseen financial catastrophe, a
VUL plan allows the policyholder to paying the charges only, thereby
keeping the policy in-force. Furthermore, as long as there is enough
fund value to cover the charges, a VUL policy will not lapse. 2) Potential higher returns
Since the underlying assets are linked to stocks and bonds, the
returns of the VUL plan –may exceed that of other types of insurance
policies. Since its inception 10 years ago, the average returns for an
equity and bond fund are 16.6% and 7.8% respectively* according to the
Historical Investment Performance of Investment Funds of Sun Life‘s
Variable Life Insurance Products. In contrast, dividends and
accumulation rate are now down to just four percent. And with present
economic conditions, all signs point to even lower rates in the future.
Although a VUL plan entails higher risk, the higher returns allows
the policyholder to realize his goals faster. Or better yet, achieve a
bigger fund than he initially set out for. 3) Liquidity
Just like Rod, a VUL policyholder can access the fund value in case
of financial need. Unlike in traditional policies, this is treated as a
withdrawal rather than a loan. Thus, the amount withdrawn does not incur
any interest. Better yet, the amount withdrawn is not deducted from the
face amount. However, it is highly encouraged that whatever amount was
withdrawn be reinvested again so that the policyholder remains on track
with his financial goals.
All told, VULs have helped Filipinos become savers and investors.
Now, our financial dreams become much easier to achieve with the help of
the VUL plan. *Returns are not guaranteed. Past performances do not reflect future returns.
- See more at:
http://brighterlife.com.ph/2014/07/07/3-benefits-of-a-vul-insurance-plan/?category-ref=personal-finance#sthash.8OMyJpgG.dpuf
VUL
has become the most popular insurance plan in the past decade. In
simple terms, VUL is a financial product that offers the best of both
worlds – guaranteed insurance benefit and fund accumulation. Since the
policy is linked to different asset classes such as stocks and bonds,
VUL presents earning potential that may not be offered in a traditional
policy.
If you’re considering a VUL plan to beef up your portfolio, these features of the VUL may convince you: 1) Flexible premiums
With a VUL plan, a policyholder has the option of putting in more
than the regular premium. Any amount in excess of the regular premium
becomes additional investment or top-up. In effect, the fund value
accumulates faster for the policyholder. This is great for those who are
looking for investment options for their bonuses or windfalls.
On the flip side, in the event of unforeseen financial catastrophe, a
VUL plan allows the policyholder to paying the charges only, thereby
keeping the policy in-force. Furthermore, as long as there is enough
fund value to cover the charges, a VUL policy will not lapse. 2) Potential higher returns
Since the underlying assets are linked to stocks and bonds, the
returns of the VUL plan –may exceed that of other types of insurance
policies. Since its inception 10 years ago, the average returns for an
equity and bond fund are 16.6% and 7.8% respectively* according to the
Historical Investment Performance of Investment Funds of Sun Life‘s
Variable Life Insurance Products. In contrast, dividends and
accumulation rate are now down to just four percent. And with present
economic conditions, all signs point to even lower rates in the future.
Although a VUL plan entails higher risk, the higher returns allows
the policyholder to realize his goals faster. Or better yet, achieve a
bigger fund than he initially set out for. 3) Liquidity
Just like Rod, a VUL policyholder can access the fund value in case
of financial need. Unlike in traditional policies, this is treated as a
withdrawal rather than a loan. Thus, the amount withdrawn does not incur
any interest. Better yet, the amount withdrawn is not deducted from the
face amount. However, it is highly encouraged that whatever amount was
withdrawn be reinvested again so that the policyholder remains on track
with his financial goals.
All told, VULs have helped Filipinos become savers and investors.
Now, our financial dreams become much easier to achieve with the help of
the VUL plan. *Returns are not guaranteed. Past performances do not reflect future returns.
- See more at:
http://brighterlife.com.ph/2014/07/07/3-benefits-of-a-vul-insurance-plan/?category-ref=personal-finance#sthash.8OMyJpgG.dpuf
VUL
has become the most popular insurance plan in the past decade. In
simple terms, VUL is a financial product that offers the best of both
worlds – guaranteed insurance benefit and fund accumulation. Since the
policy is linked to different asset classes such as stocks and bonds,
VUL presents earning potential that may not be offered in a traditional
policy.
If you’re considering a VUL plan to beef up your portfolio, these features of the VUL may convince you: 1) Flexible premiums
With a VUL plan, a policyholder has the option of putting in more
than the regular premium. Any amount in excess of the regular premium
becomes additional investment or top-up. In effect, the fund value
accumulates faster for the policyholder. This is great for those who are
looking for investment options for their bonuses or windfalls.
On the flip side, in the event of unforeseen financial catastrophe, a
VUL plan allows the policyholder to paying the charges only, thereby
keeping the policy in-force. Furthermore, as long as there is enough
fund value to cover the charges, a VUL policy will not lapse. 2) Potential higher returns
Since the underlying assets are linked to stocks and bonds, the
returns of the VUL plan –may exceed that of other types of insurance
policies. Since its inception 10 years ago, the average returns for an
equity and bond fund are 16.6% and 7.8% respectively* according to the
Historical Investment Performance of Investment Funds of Sun Life‘s
Variable Life Insurance Products. In contrast, dividends and
accumulation rate are now down to just four percent. And with present
economic conditions, all signs point to even lower rates in the future.
Although a VUL plan entails higher risk, the higher returns allows
the policyholder to realize his goals faster. Or better yet, achieve a
bigger fund than he initially set out for. 3) Liquidity
Just like Rod, a VUL policyholder can access the fund value in case
of financial need. Unlike in traditional policies, this is treated as a
withdrawal rather than a loan. Thus, the amount withdrawn does not incur
any interest. Better yet, the amount withdrawn is not deducted from the
face amount. However, it is highly encouraged that whatever amount was
withdrawn be reinvested again so that the policyholder remains on track
with his financial goals.
All told, VULs have helped Filipinos become savers and investors.
Now, our financial dreams become much easier to achieve with the help of
the VUL plan. *Returns are not guaranteed. Past performances do not reflect future returns.
- See more at:
http://brighterlife.com.ph/2014/07/07/3-benefits-of-a-vul-insurance-plan/?category-ref=personal-finance#sthash.8OMyJpgG.dpuf
I've always believed that I'd become successful in network marketing so last June 2012, I decided to resign from my corporate job to do network marketing full time. I gave up 4 years of career in marketing when I tendered my resignation with high hopes of success in the business.
But life has its own way of twisting you and turning you from the inside out, stripping you away of everything until you have nothing. Things didn't go well as planned and my finances - emergency funds, savings and existing loans went in a deep turmoil. In order to save what's left two months after I resigned, I decided to QUIT again from Network Marketing last August of 2012 to go back into the corporate world. Luckily, I got hired again in a multinational company, working in marketing for a year and then being transferred to sales for the past 5 months.
For I know the plans I have for you,” declares the Lord, “plans to prosper you and not to harm you, plans to give you hope and a future. JEREMIAH 29:11
Breakdowns to Breakthroughs
Recovering from a deep financial breakdown and paying up huge business debts was never easy but it was a big turning point in my financial journey. As Brian Tracy said, If the plan doesn't work, change the plan but never the goal. I badly wanted to recover so I kept on educating myself about investing and how to improve my finances through books and seminars. I turned to Robert Kiyosaki's book "Guide to Investing." Back then, I already know a few about investing in stocks, mutual funds and real estate but I wasn't ready for it since I have high beliefs in the promise of a passive income from doing network marketing.
Around January of 2013, I decided to start investing in UITFs (Unit Investment Trust Funds) and also started searching for other investment options that could help improve my finances while paying off my debts.
“The whole commandment that I command you today you shall be careful to do, that you may live and multiply, and go in and possess the land that the Lord swore to give to your fathers. And you shall remember the whole way that the Lord your God has led you these forty years in the wilderness, that he might humble you, testing you to know what was in your heart, whether you would keep his commandments or not. And he humbled you and let you hunger and fed you with manna, which you did not know, nor did your fathers know, that he might make you know that man does not live by bread alone, but man lives by every word that comes from the mouth of the Lord. Your clothing did not wear out on you and your foot did not swell these forty years. Know then in your heart that, as a man disciplines his son, the Lord your God disciplines you. Deuteronomy 8:1-20
When the student is ready, the teacher will appear
I became aware of Sun Life and their investment products around February 2013 because of their strong marketing campaign with Papa P (Piolo Pascual) but never really took action into starting an investment with the company. Last July, I got a message from LinkedIn from a Sun Life Financial Advisor and finally took courage to meet with her even if I don't really know her. I got my first VUL (Variable Unit Linked) Insurance+investment plan, a Sun Flexilink. Then an old friend from YFC who's also a Sun Life Financial Advisor contacted me last August for another Sun Life Investment and after our meet-up, I got my second VUL insurance+investment plan, this time, the Sun MaxiLink Prime and finally took the leap of faith to join Sun Life as a Financial Advisor.
A Beacon of LIGHT
Life is indeed brighter than the sun when I became a Licensed Sun Life Financial Advisor. This opened an opportunity for me to carry out my personal life mission of being a contribution to our country by helping out my fellow Filipinos improve their lives through Financial Education in order to achieve Financial Freedom.
But, I do not want to be alone in this journey towards financial freedom which is why I shared with you my life story. I'm a firm believer of Life Insurance, Investment and sound Financial Planning. I was not born from a well-off family and our family has gone through a lot of financial struggles for the lack of financial education and planning. I want to break the cycle. I know that we all dream of living a better life and we are in the constant search for the tools on how we can better improve our personal financial situation.
As a Financial Advisor, I do not want to just sell to you the investment or the products that we have in Sun Life. Rather, I'd prefer to give you that ray of light until you see for yourself how bright your future can be if you will take the time to create a definite financial plan for your future and work on it to achieve it. I invite you to be on board with me in this Financial Journey by sharing with me your personal dreams and goals and see how we can make it happen. Feel free to contact me here. :)
To my fellow Sun Life Financial Advisors, let's continue making a difference in the lives of our fellow Filipinos. For God, and our country, for a First World Philippines.
But seek first the kingdom of God and his righteousness, and all these things will be added to you. Matthew 6:33
We
all dream of a better life. Unfortunately, not all of us have the
resolve to do what it takes to make it happen. For those who do take
action, I have realised how much hope investing can give.
For some, this could be their only hope to somehow feel the comfort of living.
During these encounters, I come to know how valuable the role of
Financial Advisors to our client’s lives. To my fellow advisors, let us
continue making a difference in today’s world.
- See more at: http://mutualfundphilippines.com/2014/01/mutual-fund-university/investing-light-end-tunnel/#sthash.0542gve6.dpuf
We
all dream of a better life. Unfortunately, not all of us have the
resolve to do what it takes to make it happen. For those who do take
action, I have realised how much hope investing can give.
For some, this could be their only hope to somehow feel the comfort of living.
During these encounters, I come to know how valuable the role of
Financial Advisors to our client’s lives. To my fellow advisors, let us
continue making a difference in today’s world.
- See more at: http://mutualfundphilippines.com/2014/01/mutual-fund-university/investing-light-end-tunnel/#sthash.0542gve6.dpuf
We
all dream of a better life. Unfortunately, not all of us have the
resolve to do what it takes to make it happen. For those who do take
action, I have realised how much hope investing can give.
For some, this could be their only hope to somehow feel the comfort of living.
During these encounters, I come to know how valuable the role of
Financial Advisors to our client’s lives. To my fellow advisors, let us
continue making a difference in today’s world.
- See more at: http://mutualfundphilippines.com/2014/01/mutual-fund-university/investing-light-end-tunnel/#sthash.0542gve6.dpuf
We
all dream of a better life. Unfortunately, not all of us have the
resolve to do what it takes to make it happen. For those who do take
action, I have realised how much hope investing can give.
For some, this could be their only hope to somehow feel the comfort of living.
During these encounters, I come to know how valuable the role of
Financial Advisors to our client’s lives. To my fellow advisors, let us
continue making a difference in today’s world.
- See more at: http://mutualfundphilippines.com/2014/01/mutual-fund-university/investing-light-end-tunnel/#sthash.0542gve6.dpuflike to invite you to be on board, together, we can improve your current financial situation
With the innovative franchising concept, I started doing Nu Skin last November 2009 and have learned a lot from doing the business. The products are great, stability wise, it really is a stable company as they are listed in NYSE and Forbes Top 500. I also have nothing bad to say about the company's mission, vision, core values and culture. In fact, being with Nu Skin for the last two years had been one of the greatest and most valuable business learning experience I've ever had. Allow me to share with you why I think Network Marketing is the greatest business school model ever invented.
On the first part of my journey to financial freedom, I’ve shared about earning extra
income from selling cakes and pastries way back in high school. Growing
up, our family has engaged in various food business. I recalled we’ve
already sold meat (cold cuts), halo-halo, barbecue, fishball, quek-quek,
burgers and hotdog, sago at gulaman and ice candy. None of it lasted
for a year.
Food might be a commodity but it takes a lot of effort to
create it and sell it to be able to raise a decent profit. That’s why
the usual return of investment for a food cart franchise takes about 2-3
years (conservative) and depending on factors like location and
customer traffic. Let’s also consider risks like spoilage and wastage,
and profit takers such as labor fees, location rental fees, franchise
royalty fees, permits and other overhead expenses. Plus, you’ll be like
the self-employed because you have to be “hands-on” with your food cart
and oversee everything or else your business will fail. :)
The Beauty of Network Marketing
The beauty of being in a network marketing business,
the system is already there, you no longer have to develop the products
because it’s already there. You don’t have to get workers because you
work for your business. You don’t have to pay for overhead expenses, and
it’s an easy start-up that requires little capital with high profit
gain. What’s also good about it is you get to work with a team; you get
to have business partners that enable you to expand the business even if
you’re not really there on a certain location. You cannot expand a
business without a team that’s why most businesses that run on a sole
proprietorship usually end up closing down in a year because one cannot
work and succeed alone. If you want to succeed faster, it’s best to do
it with a team. It’s also like a business school where you get a chance
to be mentored by successful people who have done it and succeeded.
So if you happen
to be negative about the network marketing industry, ask yourself this,
“What do I really know about it?”
Because what you know about it right now is probably
hindering you from seeing the opportunity behind it. Not everything in
network marketing is about “recruitment,” it’s not even everything about
BIG PAYCHECKS and EXPENSIVE CARS and whatever the “hype” and
“deception” other networkers have placed in it. There are a lot of
network marketing companies out there; you just really have to know what
the right company is. So instead of being skeptic, do research on its
background, its stability, its proven track record, the compensation
plan, on the quality of the products, on the core values of the company.
Learning from my previous experience in network marketing, I got in a
“not so good” vehicle because of the lack of knowledge in network
marketing and not consulting those who know about it. Everyone has their right to CHOOSE. If you’ve been
invited to attend a “job opening” but never telling you the name of
their company then beware coz it might be a scam. Why should you be
ashamed of your company if it is highly credible? I’ve already learned
from my previous experience and I AM NOT DOING IT AGAIN. If I want you
to be my business partner I will tell you straight to the point what my
business really is. I highly value CREDIBILITY and deceiving people
won’t help me earn that.
Quoting from my mentor, “If you want to get the best
from the industry, work with the best in the industry. In the future,
people will prospect for uplines, not for downlines. They will look for
those who are successful in network marketing to mentor them.”
2009 to 2012 being in network marketing industry is probably one of the best years of my entrepreneurial journey, but the story doesn't stop there.
To be continued.
Do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what is the will of God, what is good and acceptable and perfect.Romans 12:2
There were a lot of challenges within our family and my
experience gave me the passion to serve in the business world as I literally hounded heaven for a clear answer. Realizing that I would not be able to get to my
dreams for myself, my family and my country if I would be working forever as an
employee and would not even be able to help A LOT of people if I don’t
have enough to share and solely relying on my paycheck, I decided to look for a vehicle that could get me to the real world of Entrepreneurship. Some say I could start a SMALL BUSINESS but I
don’t see it as a fast vehicle to my dreams. I don’t see myself being
able to do it ALONE.
After I graduated college, I started to look for a job, with one vision in mind -- to SAVE money in order to raise a capital to start my own small business. I've
been considering franchising a siomai and fishball cart back then.
It
was September 2009 when my boss introduced me to Network Marketing. I
was a “kidnapped invite” meaning, I was invited to this network
marketing company without any knowledge
that I would be given a business presentation. Being really enthusiastic
about putting up my own business, I was an easy sign-up and invested
around 24k half from a loan offered by my boss and the other half from my savings, without the knowledge and consent of my parents.
I went home
with a bag of expensive supplements, seeing the look of HORROR in their
faces telling me I’m crazy. Since in network marketing, there are various levels of income rewards, I was “coerced to invest and hyped” to upgrade my investment to what they call 3-business center, so I invested an additional 15K I loaned from my Tito, bringing the total investment to 39K in an understanding that the bigger I invest, the bigger the business and income opportunity. After 2
months of being “coerced to invest and hyped” to do the business, I got
sick and tired of doing it. Why? Because of the following reasons (based only
on my strong opinion and experience):
1. These network marketers taught me to deceive people. I
was told to “invite” my friends through deception. Let me quote their
famous line: “Dahil ngauumpisa ka palang at hindi mo pa kaya ipaliwanag
ang negosyo na ito, wag ka na magpaliwanag kung saan mo sila dadalhin
dahil sigurado negative ang mga yan.” I was advised to invite friends to
dinner but instead, bring them in for a “hyped up” business
presentation. I was told not to mention the company name whenever I
invite.
2. I was taught to “coerce and hype” people and “recruit”
them as down lines. I was taught to offer fake part-time jobs in order to recruit
people.
3. I lost some of my friends because of that “deceptive” way of inviting people to partner with you in a business.
4. Binary network marketing schemes involve more recruitment rather than product movement.
5. I got deprived of the PROPER business training I needed
to succeed in this business because their trainings are usually limited
to those who are already doing well in the business, those who are
already called “top-earners.” That got me questioning how will those who
don’t excel succeed when they don’t give proper training?
6. Money is their only purpose. Desiring to be rich to be
able to buy a house, an expensive car and other material stuffs is their
driving force.
7. My core values are not aligned with theirs.
I stopped doing the business. I felt I was a victim.
It never worked on me and I got stuck in a bad business debt and it was the first
time in my life that I ever felt broke. I've always been thrifty and "Kuripot" so having all of my savings wiped out from the initial investment and getting in a deep debt made me feel so sad. But I never blamed anyone because it
was a personal decision that I abruptly made without consulting anyone
who knows about Network Marketing. By the way, the company was USANA (Sorry for name dropping, I just had to!). Don't get me wrong, I see some friends who succeeded doing USANA business and I'm happy for your success and that you inspire others to succeed as well. But I also know some who quit. I also heard some of my friends who also became "victims" of their deceptive inviting strategy like giving a job opening in iAcademy, etc. (To USANA distributors, if you really believe in the beauty of your company, I urge you to stop the deceptive inviting strategy.)
It was October 2009 when I met a business community that
teaches aspiring entrepreneurs to establish their own business in a
non-traditional setting, think of a Masteral school minus the expensive
tuition fees. I would say that I finally got what I have been looking
for – a team of mentors and entrepreneurs whom I share the same dreams
and vision. I finished their wealth courses that gave me insight on how I
could properly handle my finances so I would be able to recover from a
bad investment. I was also enlightened more about why Network Marketing
is still a good business to start into despite the negative experience
I’ve had. I was able to raise a 100K capital from zero using the art of
leverage taught by my coaches and mentors. I enrolled in the Life
Entrepreneurship Program and started my Stage 1 Innovative Franchising
Business through another Network Marketing Company. Yes, you read it right. Another network marketing company.
To be continued.
Blessed is the man who does not walk in the counsel of the wicked or
stand in the way of sinners or sit in the seat of mockers. But his
delight is in the law of the LORD, and on his law he meditates day and
night. He is like a tree planted by streams of water, which yields its
fruit in season and whose leaf does not wither. Whatever he does
prospers. Psalm 1:1-3
Our journey in life is made up of thousands of stories. We experience different ironies leading us to where we are exactly as of the moment. It is good to sometimes look back and re-live the past so that we can further appreciate the present and be more excited to look forward to the future.
Allow me to share with you a portion of my life which started
my call for Entrepreneurship and my quest towards Financial Freedom. This is kinda long so if you think this
would only bore you, all I ask is a little of patience as this could be your story too.
Way back in high school my sister and I would go to school
carrying a paper bag of pastries from our family business – particularly
brownies and silvanas. We would sell these pastries everyday to our
classmates and schoolmates for Php10.00 each. For every box we finished,
we would get a profit of Php70.00 per box.
So If I am able to finish 14 boxes in a week, I get a total
profit of Php 980.00 per week. Not bad for an extra income of a high
school student right? Well, that wasn’t always the case. Since I bring these
pastries almost everyday, time came when my classmates have gone tired or “sawa
na” in eating our stuffs so there goes the spoilage because I can no
longer finish a whole box of pastries and it ends up going home with me
which I could no longer resell the next day for fear of food poisoning.
That’s food, therefore, it’s disposable. Goodbye extra income.
I'd say that life had always been difficult as different circumstances over which we have no control of happens all the time. Back then, my dad was offered with an early retirement and our family went through a complete financial loss. My parents engaged in small businesses in order to sustain our family's income. All of us were studying at a private school back then so imagine the difficulty of paying for our tuition fees without a secure financial coverage. I experience a time where my sister and I pass textbooks after class and just bought the work books, even buying old textbooks from students in a higher level just to help our parents save money. It was a time where I felt that God had stripped us away of everything.
When I went to college, I took a course on Entrepreneurial
Management. We enrolled in a state university so that our college expenses would be
minimal. We had to rely on our relatives abroad for us to finish our
education and my sister and I were very fortunate to have been granted a
4-year scholarship from the parish.
Being fully aware of our financial status, I experienced
growing up in one day, taking full responsibility to support
ourselves and be able to contribute to our family expenses. I need a
bigger income so instead of selling more pastries; my sister and I got ourselves employed at a famous Filipino fast food chain as a cashier and dining
crew. I can still clearly remember the fear I felt the first time I crossed the street
ALONE and commuting ALONE just to get to and fro to school and work
because I was used to being fetched by a school service and I wasn’t
brave enough. I never thought I would experience these kind of things in real life as I've only used to watch it in teleseryes.
During those times, I realized how important it is to have a sound financial plan in case anything happens as employment will never give you financial security, you can't rely on the government when you retire and it is hard to become a financial burden to your relatives.
I was a working student when I entered first year college. My job earned me an income of
3k to 4k a month. Again, not bad for extra income of a student that time, considering that inflation wasn't yet that high. :D I
was a working student for 3 years and stopped only when I was already
doing my feasibility studies during my Fourth Year. Since I studied in a
State University with a very minimal tuition fee, I'm proud to say that I was
able to support my own studies through my income as a working student
and as a scholar. Juggling acads and work was definitely a challenge
considering that I was also active in various extra-curricular
activities and actively serving in YFC (CFC Youth For Christ). Through God’s loving grace, we made it
through and graduated last 2008 with good grades and maintained our scholarship
until our final days in college. :)
A few weeks after graduation, I got employed as a Retail and Marketing Coordinator and landed on the
job that I wanted. My job gave me a clearer picture of how a traditional
business works. My job made me aware of how expensive it is to put up
your own store, to monitor sales, to handle people, to budget marketing
and advertisements and how expensive it is. Being involved from the
store construction and down to handling store issues and concerns on
sales and marketing, it made me realize that if I put up a traditional
business, it would take years to recover plus the hassle and headache of
being in-charge in everything just to make sure it won’t fail.
Sure I landed on a nice job but my paycheck is still not
enough plus I have to work on a weekend and I felt that I’m being robbed
of the time that I should have been spending with my loved ones.
Looking at my check list of dreams, I haven’t gotten anywhere yet. The
list is still way too far from reality. How much longer can I wait when
my parents are no longer getting any younger?
To be continued.
You shall generously give to him, and your heart shall not be grieved
when you give to him, because for this thing the Lord your God will
bless you in all your work and in all your undertakings. Deuteronomy 15:10
This
is a great lesson about time and money put into a valuable story of how
anyone can create a passive income and taking control of
your financial destiny. We live in a bucket-carrying world. Who are you, the bucket carrier or the pipeline builder?
Honor the Lord from your wealth and from the first of all your produce;
So your barns will be filled with plenty and your vats will overflow
with new wine. Proverbs 3:9-10
Whether we like it or not, our dreams come with a Price Tag, and most of the time, it is EXPENSIVE, right? Have you ever tried computing for the COST of your dreams? Yes? No? Let's see, a basic house and lot can cost you more than a million. A basic car can cost you also a million or more. What about traveling? Do you love to travel? What places do you want to visit? A budget trip to Palawan could cost you 15K. How about traveling abroad? A trip to Europe can cost you more than a 100USD. Depending on your personal choice, would you choose to forever travel on a budget or would you choose to experience traveling first class style? What about your children's education? Of course, I'm sure you would want to send them to the best schools here in the Philippines and even send them to graduate school programs abroad. When that time comes, do you think you can afford it? What about retirement? As early as now, at the age of 26, I am already thinking about retiring at the young age of 35 so I would have more time to spend with my family and I think you should start thinking about it too. Have you ever thought of the amount you will need in order for you to retire comfortably? Coz we know that upon retirement, the income stops but the expenses will continue. Do you think a retirement benefit from your company will give you a comfortable and stress-free retirement?
One element of success is knowing what you want. Clarity means refining your vision and hopes for the future as specifically as possible. But the more precisely you can envision, the more likely you will end up where you belong. - Steven J. Lund
Are you ready to know the COST of your Dreams? Step 1: CONSTRUCTING A DREAM and MAPPING OUT YOUR FINANCIAL BLUEPRINT Let's build your dreams right now and immortalize it on paper. First, take a moment to reflect on the following questions and write down your answers as specific as you can on a notebook or a piece of paper. (Just make sure you don't lose this!) 1. What is your dream? 2. What excites you? 3. What are the things you want to have and the places you want to visit? 4. What kind of future do you envision 5 to 10 years from now? 5. What things do you want to do if you have TIME freedom? 6. Who do you want to spend your time with? Step 2: A PICTURE IS WORTH a THOUSAND DREAMS Once you've written down your answers, the next step is to create your VISION board or dream board. To do this, you need pictures that will represent your dreams. You can look for it in magazines, or Google it then print it then cut it out. Paste them in a 1/4 illustration board or in your journal. As you do this, I encourage you to feel the EXCITEMENT and be as SPECIFIC as you can. Once your dream board is finished, tell yourself this: Anything is POSSIBLE when you COMMIT to working to reach your dream! I invite you to look at it everyday and surrender your dreams to God, submit it wholeheartedly to him and believe without a doubt that He will make it happen for you. Step 3: DREAM CALCULATOR Choose your dream, calculate the cost, and choose wisely As I've mentioned, our dreams come with a price tag. In order for you to plan effectively on how you can achieve it, we have to determine the cost of your dream and how much you will need to save/invest in order to achieve it. Compute how much you will need through our dream calculator for a #brighterlife.
Once you are able to find out how much you will need, it's time for me to help you customize a plan based on your current financial situation. Click here to request for a free proposal and I'd be happy to help you plan your next step of action.
It's time to achieve a brighter future today! :)
"May he give you the desire of your heart and make all your plans succeed." Psalm 20:4
