Alam mo bang 80% of Filipino millionaires are first-generation “rich”. Ibig sabihin nito na they did not inherit their wealth but built it. These figures have left me wondering what it takes for a regular Pinoy to overcome humble beginnings and achieve the “Great Filipino Dream” na maging isang Milyonaryo. Read on to learn how to create wealth, kung hindi ka pinanganak na mayaman.
The first stage to being wealthy is considerably more personal than developing millionaire habits or making smart investments, at least for those who are not born into it. Such strategies frequently fall short of addressing the systemic and psychological obstacles that many marginalized groups who grew up without access to money face.
Ang tunay na unang hakbang ay baguhin ang iyong pag-iisip o linangin ang isang mindset na nagtataguyod ng kaunlaran.
Start by letting rid of restrictive beliefs
You may be more inclined to think that wealth is only available to a select few if you grow up without money or the resources to make enough of it, thinking that there is a shortage of resources, or seeing those around you live paycheck to paycheck.
Every day, many negative thoughts race through our minds. If we don’t learn how to filter those thoughts, we start to believe them. Eventually, they can lead to a scarcity mindset, which leads to scarcity actions, or what I call broke-ass decisions
said Rachel Rodgers
Do thought work every day to get rid of this thinking and convince yourself that you deserve abundance. Ito ang proseso ng sadyang pagmamasid sa iyong mga iniisip and deciding to explore other ideas in their place.
Accept the fact that money has both positive and bad uses
Do not let fear prevent you from achieving money, the type of income you require to support yourself, and the goals you have for your lifetime.
The adage “money is the source of all evil” is one that we have all heard. Because of that notion, a lot of Filipinos — especially those who have had unfavorable formative experiences with money — will quit wanting wealth.
Ngunit, kapag napagtanto mo na magagamit mo ang iyong money para sa kabutihan sa mundo ay maaaring ganap na baguhin ang iyong pananaw.
Realize that a big income is not sufficient
Being deliberate with how you manage your costs is necessary for wealth creation, as is investing. Every Filipinos can benefit from investing, and it can help level the playing field.
Investment offers a chance to level the playing field. The majority of Filipinos who don’t come from wealthy or financially savvy families succumb to this. However, the sector was democratized with the advent of online investment brokerage services. Every Pinoy can make investments.
Even if it just requires a little sum of money, it is advised to begin investing as soon as we can. When you develop financial discipline as an investor, your perspective changes. You may start with Php1,000 and, thanks to compound interest, that modest sum will increase over time.
Ang sikreto ay magsimula sa maliit, and consistency is the key.
Be open to paving your own way
Building money is not a one-size-fits-all endeavor. Your consistency will matter anuman ang landas na iyong pipiliin.
You shouldn’t put too much pressure on yourself to meet a fabricated benchmark for how you generate riches.
Entrepreneurship was the foundation of my wealth-building strategy, and I continue to advocate it as the fastest and most sustainable course of action. Ngunit hindi lahat ng Pinoy ay nakikita na ito ay epektibo. I know some pinoys who have amassed riches by saving money, buying real estate, or investing in equities.
Whatever your goals are and whatever path you take, you can benefit from reevaluating how you feel about money to improve your chances of earning more. Although having money does not guarantee happiness, it does offer access to options and perhaps even a higher standard of living.
Bagama’t hindi ko maipapangako that using just these suggestions would turn you into a millionaire, I can assure you that doing so will help you on your path to financial security.
Author: The Pinoy Engineer
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