Saturday, May 14, 2011

In the Eyes of a Child,; Reckoning My Past Financial Decisional Lapses

By:  Gilbert M. Forbes
DepEd QUEZON 

It has been long years since I looked into the eye of a child.  The first encounter was when I was still a new public school teacher teaching multigrade classes.The first encounter help me realize the great significance of my chosen profession which was earlier regarded as a stepping stone for a greener pasture.

Never the less, it helped me become passionate in my work.  However, along the way, I forgot the financial side.  While being dedicated to serve children in need, I forgot to prepare for my upkeep even when early on, I have thought of having a family already.

I engaged into marketing as a sideline which was successful in giving me passive income only in three months, after it, deficits until I quit.  I ventured into small scale piggery for a year, it was successful but I stopped due to health considerations of my relatives who were running it.  I learned the basics of finances in that experience.  The greatest mistake however was when I venture into building a php50,000 native house instead of investing the money which I actually loaned from GSIS and PAG-IBIG.  Since the house was made of light materials, it didn't last for a decade and so the amount I put in.  What a waste it was.  It was in 2005 when I was awakened of my financial status.  I was preparing my year-end SALN when I accidentally stumble on a book of Francisco J. Colayco.

It took me to realized that my professional career is improving but is leaving behind my financial and economic status.. I am literally bankrupt but nobody dares to believe.  Yes, I helped send siblings to college for a year only and TECH VOC for two years but its financial impact is irrelevant because it could be literally be covered by other sources other than my salary.  But beneath this fact. I am not changing my lifestyle and spending habits.

This realization came into being again when a couple of days ago I happen to look directly again in the eyes of a child, gentile, innocent, sensitive who happen to be my very own.  I am already into basic financial management but materialism and compulsive buying often intervenes.  Still, the fact is, I need to strengthen personal control.

Since I am experiencing some health problems, I was worried of his future.  What if God suddenly take me?  What will happen to our child?  If only I prepared for this, then I wouldn't be struggling financially right now.  I computed in 2005 and later in 2008 and I found out if I was only able to save instead of joining the ride of credits, my net worth would have already been in a million.  Now, its the reverse of that.  We have liabilities of almost a million.

All are regrets for the time and money lost could no longer be recovered.  Now, the challenge is for us is how to get rid of the mounting liabilities in the face of increasing medical expenses which could have been allotted to debt payments already.

It is my prayer that new professionals or salaried workers are not doing or threading the same path I took so that they will not blame themselves in the future.

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