STINGY. If there’s an adjective that will best describe me as a spender, that will be it! Growing up to an OFW father and an Ilocana mother, I learned how to handle money at an early age. I learned that money is not easy to earn, and that earning a lot of it doesn’t guarantee having enough.
I neither came from a well-off household nor from an extremely poor family living in slums, but I have vivid memories of instances in my life that taught me how to wisely spend money. Way back in college, when most of my friends and classmates would wear branded jeans like “Guess” and “Bench” during washdays, my savings from my baon could only buy unknown, yet sturdy jeans that will last a lifetime (unless I get fat). So it is a challenge also for me to buy long shirts or blouses that will hide the funny brand name located at the back of my jeans. Crazy! But looking back, I can’t help at how this experience taught me to manage my resources well (creativity included).
Today, as my income grew more than 10x higher than when I started working 12 years ago, I still do not have a pair of “Guess” jeans. But, I do have some “Bench” jeans which I bought during mall inventory sales. Probably, I never love shopping at all! I never love seeing my money spent on what Robert Kiyosaki calls doodads.
Doodads are those material possessions that we spend our money on that are really liabilities. Like that luxury car that is really beyond your current means. Or that new television set that you just had to have. Or as simple as that new DVD.
Yet, recently I got addicted into allocating a portion of my salary into shopping for stocks. Starting with a meager initial investment of Php 5,000, I now hold interest in banks, construction companies, power-generating corporations, real estate companies, and big conglomerates. Though my shares are very minute compared to the likes of wealthy business tycoons. I’m proud at how I’m slowly learning to take charge of my retirement fund…
Just recently, I sold my shares 30% higher than my initial investment in the country’s biggest food ingredients provided to companies like Universal Robina and Jollibee. Though my shares are just a few. I can’t help but daydream and ask questions, “What if I invested Php 100,000 in that company? I should be 30,000 richer by now!” What if I invested Php 1 million? I should be Php 300,000 richer now!” But I never dwell on that because I know that I’m investing based on the Strategic Averaging Method. This, I already shared on my earlier blog.
It’s true… I’m stingy because I don’t buy expensive clothes, I don’t buy designer shoes, I don’t buy luxurious jewelry, and I still don’t buy expensive jeans… But, I feel more financially free than most people I know. How about you? Do you love to shop?
On my way to financial freedom,