Being Rich Don't Last

Hello, everyone! Yesterday was a bit unproductive for me. I shared to my noisecash account that I am having a mild headache and it stops me from doing all the things I am planning to do. In fact, I have 40-50 articles in my reading queue, several drafts, and other pending tasks. I have no choice but to take a break and do things in moderation. I hope you understand why I am not always in your comment section. Thank you!

I grew up believing that being wealthy today does not guarantee wealth in the future. If you are financially capable right now but do not handle your assets appropriately, you will most likely end up poor. This way of thinking was not taught to me by my parents; rather, I learnt it via my own and their experiences.

When I was still a little, we moved from Muntinlupa to Cavite due to the reason that I am always getting ill because of the unhygienic place of our former home. Luckily my parents saved up a large amount of money and they used it to pay for the down payment. From that moment, my parents never expected that the expenses would be too overwhelming for my father’s salary. The payment for our house, electricity, water, and food is too big compared to the income of our household. 

We have no choice but to endure the cheap/poor/hard lifestyle. I can remember that the one tilapia fish was shared by the three of us. Sometimes when I feel hungry and there’s no food available, I will just eat the peanut butter 😂. I also experienced eating toothpaste and became addicted to it, lol. When I need to print something for our project, I have no choice but to please my teacher to let me just draw because I can’t afford to rent a computer and printing service. 

Under those situations, I learned that if you’re not suffering financially today, it doesn't mean you will be like that forever. If you don’t plan about your future, you are literally walking towards a dead end. 

My mother also shared the bittersweet story of her family. According to my grandmother, she experienced going into landfills just to collect plastic bottles and scrap metals. She will bring those items to junk shops and then sell them to earn money. Despite their situation, she persevered in life and was able to open her own store on a wet market. Since then, the quality of their life has improved. She is able to provide anything for her children; a house, their needs and wants, and anything that you can wish for. My mother also told us that they have a landline connection which is considered expensive during that time. 

My grandmother’s life story is like a rag to riches narration; from being poor to being rich. However, due to poor financial planning, the family who’s at the top of the circle is now at the bottom. They thought that the profit generated from their one business could sustain them forever. But little did they know, change is inevitable and their competitors can overrun them. 

Today, my grandmother is still running her business but unlike before, she’s already weak and cannot grind hard anymore. Aside from that, instead of saving her profit, she has no choice but to pay all of her remaining debts.

We can use my grandmother's story to learn something here. 

1. Save for your future. 

This is one of the things she failed to do. She did not think about the future. She focused too much on the present. Now that she doesn't have any retirement savings, she has no choice but to work despite her deteriorating body. 

Right now, if you're reading this, you should now start saving for yourself. No matter how old you are, you need to save money. You can open a savings bank account or if you’re in the Philippines, you can use GCash to use their Gsave feature.

1. Invest.

We should not rely solely on one source of revenue. What I mean by a money-generating machine is something that can generate profit or income for you. Apart from business, this platform and noise.cash are instances of money-making machinery. 

If you only have one money machine, it's time to reconsider and invest in other sources of income. For example, I put my money into an NFT game. This is a great idea for me because even if I got my initial capital, I can still earn from it. 

Or if you are the person who’s too busy and you don't have the time to take care of things, you can invest your money in mutual funds or other investments that don't need too much effort. 

This is the mistake of my grandmother; she didn’t invest. She relied only on her business. 

1. Spend wisely. 

This is the most important thing. You should be wise on spending your money. If you ever got some money in your wallet, you must think about how much you will only spend and how much you will save. If you will spend your money, think again; will you use it to buy your needs or just your wants? 

I mean there’s no wrong in buying your wants especially if you want to treat yourself. However, you must not consider it as a top priority. Also, avoid borrowing money just to buy things you don't need.

Final remarks:

Being rich don't last. This article is not only intended for people who are rich , but also for everyone who earn money. Especially that we earn money from writing here; spend it responsibly. Being wise with your finances will help you secure your future.

You can read my recent articles....

• The Business I Want in the Future

• Confirmation Bias

• An Unproductive Day because of Trade Loss

• The Man Behind The Computer Screen

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• Noise.cash

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