Your Wealthy Mind

Why Study Personal Finance? (Bonus: Get the First Chapter of “30 Steps to Wealth” Free!)

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Tagalog Version (Click Here)

Alright, so I finished cutting and editing the 10% sample of my eBook on Amazon (30 Steps to Wealth) and I wanted to announce that it’s available for everyone. That first chapter, by the way, contains the very first lesson about improving your life and you’ll be completely powerless in life if you don’t learn it by heart. As you know, success does not rely on luck and chance. If you did get a winning recipe or lottery ticket (you have a special set of talents and skills that potentially *could* make a lot of money), if you don’t work to claim your prize, then it’s useless.

30 Steps to Wealth is firstly about self-improvement and then its central theme is about proper money management. Why did I choose to center on money and personal finance? There are three MAJOR reasons why:

Why Study Personal Finance?

  1. First, you’ll be able to handle emergencies.

Life is full of challenges and problems, and for most of them a little money helps a lot. Did you lose your job? Hopefully you have enough savings to support your family until you get a new job. Did you get a serious illness or injury? Hopefully you have enough money or insurance to pay the doctor. Did an earthquake or typhoon destroy your house? Hopefully you have enough money to repair it.

If you’ve learned to handle money well, you’ll almost always have enough to cover emergencies. If you HAVEN’T, you’ll likely get buried in debt in order to pay for them… AND for the worthless things you bought on credit (which you likely won’t be able to pay for anymore).

 

  1. Second, you’re prepared for excellent opportunities.

Way too many people are stuck in jobs they hate simply because they needed the money. Are you in the same predicament? You want to leave your current job, but you need the paycheck in order to pay the bills? If you’ve learned how to handle money well, you’ll have enough savings for just that, AND you’ll have little to no debt because you’ve learned to use credit wisely. It’s not just for job opportunities either. I was able to quit my job and start blogging full-time because I learned to save and invest in a way that my investments are able to support me. You can probably do that too once you learn how.

 

  1. Finally, you’ll build a better future.

In the Philippines, “saving for retirement” is a relatively unknown concept. Most people tend to depend on social security (SSS) and pensions which, more often than not, are not enough for all the medical bills and groceries they’ll need as they grow older. Thanks to that, they’ll likely need to ask their children and grandchildren for financial support.

Let me ask you this: do you plan on becoming a financial burden to your children and grandchildren? Do you want to limit their enjoyment of life and their opportunities because you need financial support? Instead of being another mouth to feed, wouldn’t it be better to become a blessing to them instead?

Learn to save and invest for your retirement. You won’t just become self-sufficient when you retire, you’ll also set a great example for your children and grandchildren. If you learned to save and handle money wisely, avoid spending on expensive luxuries, and avoid getting into bad debt, they’ll notice. They’ll learn from your example and they’ll likely become financially stable too. If you don’t teach them how to handle their finances well,  then your adult working children might just become financially dependent on you instead, and they’ll be in financial ruin once you’re gone. I’ve seen that scenario happen before, and it’s not pretty. Familial relations can and DO break down because of irresponsible use of money.

In any case, I hope I’ve convinced you to at least learn the basics of good money management. If you want to learn more, then there are thousands of good books and guides out there. You can also read “30 Steps to Wealth” as it was designed to teach personal finance to beginners. If you want a free sample by the way, then just sign up for our newsletter below in order to receive the sample first chapter!

You can also buy your own full copy on this link by the way (just CLICK HERE).

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