Finance / Money Matters

♥ Money Bliss: Notes on My Financial Journey ♥

Clipart from Google



Taking a break from my “Blissful Moms” and ” Blissful Wife” posts and allow me to update our “Money Bliss” corner.

I have always been an advocate of financial freedom. As such, I have been in the journey for 5 years or so. With proper saving, I was able to afford some of my dreams such as (but not limited to) local travels, a wedding, childbirth (twice!) and a suburb townhouse down South.

However, my desire for financial independence has not been fully satisfied. My inspiration/virtual mentor, Fitz Villafuerte of www.fitzvillafuerte.com is absolutely correct when he said that, we want or need money not to have a surplus, not to accumulate wealth and not even to live luxuriously. We want and need money for us to afford our dreams.

This year, I started to review my dreams, converted them into SMART goals and made a plan on how to achieve them. That plan includes reevaluating my/our financial status and the formulation of financial goals which are align with my dreams.

In this post, I’m humbly imparting to you some of the knowledge I acquire from reading books, blogs, formidable forums and of course, personal experience. Read further and I’ll also share some money mistakes I learned quite the hard way. I hope you find the following stories/thoughts/information useful.

What I have learned:

  • Saving money is not enough. It’s only the baby step to financial independence. But although, it is just a baby step, it is the most important step because you cannot proceed without passing through it.
  • Investing is how you grow your money. Surely, it is accompanied by risks but these risks are manageable. Investing is the real key to our dreams.
  • Start early. Time is of the essence, always! Before one can invest, he/she should have a checklist or requirements to be fulfilled first for safety precaution and peace of mind. The checklist includes these basics: emergency fund, health insurance and life insurance.
  • Everybody has a dream or dreams. But they do not need to end or die there. As long as we’re alive we have to strive and work hard to achieve those dreams. How? First, convert them into SMART (Specific, Measurable, Attainable, Relevant, Time-bound) GOALS. Second, turn them into financial goals (i.e. goals in terms of money). Then check your financial status and capacity. Make a plan linking your current capacity to your financial goals. From there, you can draw what needs to be done first and then the next, and then after.
My Money Mistakes:
  • I did not start saving and investing as early as I started out my career. I only begun being financially conscious during my late 30s. If I did it earlier, I would have been a millionaire by now. But still, it’s never too late and besides those were the fun/youth times of my life.
  • I did not take advantage of peso-cost averaging. I was too eager to begin investing that’s why I did it in lump sum (high risks UITFs and MF and Stock Market). The losses came on a huge lump as well. Lesson learned is to have tons of PATIENCE! Money will not grow overnight. Just like what my other virtual mentor, Mr. Colayco said, “the fastest way to get rich is to get rich slowly”. I let my over-excitement rule over me.
  • Deprivation leads to Splurging.
  • Online shopping is worse than mall shopping!
  • Trading the stock market without any weapons. I joined the trading block relying only on my financial geekiness, gut-feel and luck! Ha! I barely survived though. Until I joined a formidable forum and on-line academy and learned my way from there. I seek virtual mentors who are experts with stock trading. I read books about charting, reading trends and graphs, fundamental analysis, technical analysis and so much more. I cannot say that I have retained everything I read but I was able to extract and apply some, thankfully. I even tried to do my own RSI charts and MACD, only to find out they are at Bloomberg. Hehe. Lucky me, I enjoy reading these kind of topics although my financial background does not fit too well with such. I tell you, I was in euphoria when I made my first Php 3,000.00 profit from trading in the stock market.

That’s all for now, I hope you picked up a thing or two. Next post, I’ll probably share one of my not-so-important financial goals which has a time-frame of 5 years. MY DREAM TRIP TO PARIS. Let’s see if I can raise a fund for it in 5 years. I just hope that this blog still exists in 2020. Haha Also, I’ll be sharing nuggets of wisdom I got from the books I read as soon as I find time. Don’t worry it will happen, I promise. 
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