It was almost 11 days ago when I last posted here. Tsk tsk to think that I plan posting daily as much as I could when I made this blog a month or so ago.
To ensure this, I changed my Yahoo homepage to blogger (it has been Yahoo since I "discovered" the internet about 12 years ago). This is to constantly remind me that when I begin to surf (which I do daily), I would get subconsciously "forced" to write a short piece to share to the world before I get lost in my emails, Twitter, and FB...
Apparently, starting a new habit is really hard. Life always get in the way. There is this call (referrals/ admissions) from hospital A, then hospital B. There is this habit of patients to come in your clinic when you are about to have your lunch ( clinic time is 10-12 in am, not much to see when you arrive early but a throng arrives at 11:45am) so you finish almost 2 pm very hungry. And when you are to come home for dinner ( clinic time in pm is 4:30 to 7pm, the gang cluster of patients arrive around 6:45pm) so you finish almost 9pm and when you come home, the kids are usually asleep and you take your dinner watching the last batch of telenovelas for the day and you're so poofed right after, you lost consciousness the moment your back hits the bed.
Beyond the medical life, there are too many distractions also. Your wife who is equally busy with her patients suddenly asks you to bring the kids to the dentist for their dental appointment (Yep, I have a 2 hr window to travel from Dau after my morning clinic to Bacolor to have lunch, bring the kids to the dentist in Angeles, wait for them to finish, to bring them back to our home in Bacolor and then catch my 4:30pm clinic in Dau....whew). If not dental appointment, maybe their singing and painting lessons and of course, our tutoring them on their classroom assignments, etc. Yep, life is SO SO filled up and busy for me......... Well, that's what it appears to be..... but I chose NOT to be.
Yes each of us have 24 hours a day to spend on what we think will make us feel good (well not really everything is spent actively, take off at least 6 hours for sleep, so 18 hrs). But honestly, many of us spend at least 3 hours of television everyday. 18 hrs of awake time, 3 hrs of TV time..that's 1/6 of our lives awake infront of the TV ( about 85 hours of TV a month!). And I can't understand why many of us (me included) could not spend at least 20 minutes a day writing down what you want to do with your life (believe me it should not be just work and FB!) for the next 5, 10, and 20 years. Or spend the same amount of time learning something new beyond your daily routine/ work, Or sharing what you already know to others so you can make a statement in the world (like what I am supposed to do with this blogging). 18 hours a day for each of us human beings...whether very poor or very rich...and it's how it is properly spent that makes a man poor or rich.
They say if you want to start a good habit right and regularly, set a fixed time of the day to do it. Some prefer the moment they wake up, some right before sleeping. Sigh, I know too much principles but I still have to work these principles into my life.
I would be reading self discipline and time management articles/books this week and would share them to you thru blogging in my next posts (which I hope would be just a few days from now. Ciao!
Yesterday is history, tomorrow is a mystery, today is a gift, that is why they call it the present.“ –
Kung Fu Panda
Showing posts with label saving. Show all posts
Showing posts with label saving. Show all posts
Thursday, June 7, 2012
Friday, May 11, 2012
How to dispose off your money
Had just attended our annual convention for internists and the three days had been quite a stretch with all the lectures & sessions presented. I made it a point to attend some sessions which are non- medical in nature. Two of such were this lecture from Ms Susan Bigay, a very astute yet feisty CPA practitioner who shared some tips on how to build your finances & Dr Sanjiv Chopra, a medical practitioner who became an international hit with his numerous publications on success and leadership.
I would like to share some highlights of their lectures. Mrs Bigay reminded the audience, many of which were also young doctors, not to rush into buying expensive flashy cars and building their dream house in the first 10 years of their practice. Well aside from it would certainly attract our friendly government revenue collectors, it is not a wise decision in the long run since you would only be working HARD to pay your debts to something which will just let you lose more money ( the car and house maintenance costs, the gasoline, the decoratives/ fixtures you have to add to your house, the food and time expenses you let out being the gracious host that you are since your house will be a magnet for reunions, meetings, etc.). That would be stressful just to maintain that lifestyle early. Kiyosaki calls them doodads or liabilities in his book "Rich Dad, Poor Dad".
For the first few years of your earning life, build assets (things that will help you earn money) so that after a decade or two, you have them assets (e.g., rental properties, stocks/paper investments, businesses manned by others) to help you EASILY build that dream house/ buy that yearned car. Live it simple and do not rush...
Mrs Bigay, on another point, emphasized the idea that we should not keep all our money and savings in the banks. The time deposit interest which goes to about 2-3 % per annum is substantially less than our current inflation rate which is about 5%. So in the long run, you are literally losing money ( the buying power of the money you kept in that TD is slowly dripping away). What more in case of bankruptcy, the bank thru the Philippine Deposit Insurance Company (PDIC) can only guarantee P500,000 to each depositor no matter how many accounts or TDs he has with the bank. And to make it more inconvenient, the time frame to retrieve the lost money is about 6-8 months.
She advised to keep only your emergency fund in the bank ( like the amount equal to the basic family expenses you would incur in 6 months assuming you lost your job and you're without any pay in the same time period). Money in the bank should be mainly for safekeeping. She recommended diversifying your investment portfolio into UITF, mutual funds, stock market, stocks in time tested companies and promising businesses and real estate. Relative to this what came to my mind was this very useful video resource series "Pesos and Sense" by Mr Aya Laraya which I strongly would recommend to the average Filipino saver/investor.
On my next post, I would share Dr Sanjiv Chopra's talk on leadership and steadfastness to a dream.
The greatest invention the world had ever known is compounded interest - Albert Einstein
I would like to share some highlights of their lectures. Mrs Bigay reminded the audience, many of which were also young doctors, not to rush into buying expensive flashy cars and building their dream house in the first 10 years of their practice. Well aside from it would certainly attract our friendly government revenue collectors, it is not a wise decision in the long run since you would only be working HARD to pay your debts to something which will just let you lose more money ( the car and house maintenance costs, the gasoline, the decoratives/ fixtures you have to add to your house, the food and time expenses you let out being the gracious host that you are since your house will be a magnet for reunions, meetings, etc.). That would be stressful just to maintain that lifestyle early. Kiyosaki calls them doodads or liabilities in his book "Rich Dad, Poor Dad".
For the first few years of your earning life, build assets (things that will help you earn money) so that after a decade or two, you have them assets (e.g., rental properties, stocks/paper investments, businesses manned by others) to help you EASILY build that dream house/ buy that yearned car. Live it simple and do not rush... Mrs Bigay, on another point, emphasized the idea that we should not keep all our money and savings in the banks. The time deposit interest which goes to about 2-3 % per annum is substantially less than our current inflation rate which is about 5%. So in the long run, you are literally losing money ( the buying power of the money you kept in that TD is slowly dripping away). What more in case of bankruptcy, the bank thru the Philippine Deposit Insurance Company (PDIC) can only guarantee P500,000 to each depositor no matter how many accounts or TDs he has with the bank. And to make it more inconvenient, the time frame to retrieve the lost money is about 6-8 months.
She advised to keep only your emergency fund in the bank ( like the amount equal to the basic family expenses you would incur in 6 months assuming you lost your job and you're without any pay in the same time period). Money in the bank should be mainly for safekeeping. She recommended diversifying your investment portfolio into UITF, mutual funds, stock market, stocks in time tested companies and promising businesses and real estate. Relative to this what came to my mind was this very useful video resource series "Pesos and Sense" by Mr Aya Laraya which I strongly would recommend to the average Filipino saver/investor.
On my next post, I would share Dr Sanjiv Chopra's talk on leadership and steadfastness to a dream.
The greatest invention the world had ever known is compounded interest - Albert Einstein
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