Crucial Lessons I Learned About Personal Finance

September 17, 2020
Article No. 211

Honestly speaking, I still feel a little lost. There were some problems that I have set aside. But some problems can't be set aside forever, or we need to take care of them in a more serious manner.

Perhaps one of those problems common to us all is handling our finances.

Greetings once, again my dear readers. How difficult it is to write when your head is still aching and the music from the speakers from the Barangay (village) basketball court is blaring. The barangay is having its SK night. Ugh! And my ears are extra sensitive to base sounds! In other words... drum beats!

Author's Note:

I had to stop writing and get some sleep. When I woke up this morning, my allergies acted up again.

Back To Topic!

September 18

In the first half of this year, I have been financially blessed. In April and in May, I earned an amount that would equal my online earnings for at least six months.

Read: https://read.cash/@JLoberiza/grateful-for-another-amazing-month-9396f98d

I was more than grateful.
Saved Half of My Earnings. Since I have more than enough FIAT money, I did not touch my BCH earnings.

I only rewarded myself by buying my Huawei Tablet which I am now using to earn. And I did spend some for our wedding anniversary and my wife's birthday.

Long Dry Months

June was the start of my long "dry months". I had no FIAT income, and my BCH earnings dropped to less than a hundred dollars a month.

I started to spend what I had.

Lending.

Two close relatives approached me on different occasions and borrowed money from me. Both of them promised to pay me as soon as they got paid from their pending transactions.

But up to now, they were not able to pay me.

Crucial Lessons I Learned About Personal Finance

1. Be Grateful But Never Get Complacent

When I got a project that earned me months' worth of my online income, I was more than grateful. I was too satisfied with what I got.

Too satisfied that I became complacent. I started to slow down in my writing and creating content. That was my mistake.

2. Never Waste Your Time.

I reached more than my earning goals in April and May. With the feeling of satisfaction, I thought I could relax from writing. I even wasted my time playing games. If I waste four hours a day playing games,  I could have written one or even two articles each day. Or I could spend an hour drawing.

Read: https://read.cash/@JLoberiza/how-do-you-deal-with-mobile-game-addiction-aad5ac20

3. Help Those In Need But Think of Your Family First

It's good to help others. However, if you have a family, think of them first. My plan to enroll my kids in a private school did not materialize because the amount that was borrowed from me was the amount that I was supposed to use for their tuition this year.

4. Whenever You Have Extra Money Make It Grow.

Surely, money does not grow on trees, However, if you have extra cash, you can make it grow LIKE trees by investing them in passive income vehicles.

5. Determine How Much You Need To Earn Each Month.

Honestly speaking, I started this article with this concept. For a few days, I had been pondering how much do I need to earn each month. If I keep this amount in mind, regardless of how much I earned the previous month, I suppose I will get motivated to keep on grinding.

In Conclusion

Perhaps, the biggest lesson that I realized as I am composing this is the lesson from the classic fable the Turtle and the Hare. The hare was fast. He reached halfway through the finish line way ahead of the turtle. But the hare stopped along the track and relaxed... ultimately he fell asleep and you know the rest of the story.

When it comes to personal finance, set your goals and never take your eyes away from your goals. You don't have to get there quickly... slow and steady will get you there.

Thanks for reading.

Image Credit:

Lead Image: Image by Lukas from Pixabay