10 Personal Finance Things to Do on a Long-Weekend Break!

Here are some great financial quotations I got from the net:  

"The spend thrift is happy a few hours; the saver, all his life."

"Beware of small needless expenses. Small leaks sink big ships – and big men – and big business – and big nations." 

"Failing to distinguish between needs and wants keeps many people poor. Think."  
***
It's gonna be a long-weekend here in the Philippines.  Nov. 1 and 2 are declared non-working holidays!  Yehey!!!  What are your plans for the 4 day break? Enjoy, have fun, but don't break the piggy bank! =)

***
Maybe you can alot a "small" amount of time to catch up with your personal finances?  Can you spare half-a-day or even 1 or 2 hours to do your financial planning chores?  You will have a total 96 hours (4 days multiply by 24 hours) of free time, anyway.  How much time can you allocate for your financial matters?
***
I was listening to a John Maxwell CD the other day and he said, "Most people spend more time planning their summer vacations, than spend time planning their lives!"  I would like to add that aside from physical (or health), relational (or families), intellectual (or careers) and spiritual, the "financial" aspect needs proper attention and planning too.
*** 
So for the long-weekend break, may I suggest 10 things you can do with regards to your personal finances:


1. Calculate your net worth (assets minus liabilities).  Have you ever wondered where are you now financially?  Do you have more assets than liabilities, or the other way around?  Since you graduated from college, how long have you been working?  With the XX no. of years you have worked, "anu na ang mga naipundar nating mga ari-arian at magkano na ang ating mga pinagkakautangan?"  Don't worry if you have more "utang" than assets.  It simply signals that you need to start controlling your finances and believe that a better future lies ahead!
***
2. Assess your spending habits.  Do you spend more than what you earn?  What items do you usually splurge on?  Do you know how much are your regularly spending on bills, food, cellphone load and other discretionary items like watching movies, coffee at Starbucks, dining out?  Maybe its time to jot down and record your expenses on a daily basis to keep track of your spending.  Also, maybe it will also be helpful to come up with a monthly budget to ensure that all expenses are within limits and a certain amount/percentage is allocated for savings.
***
3. Assess your savings/investment habits. Do you save or invest every payday or on a regular basis?  Do you allocate at least 10 or 20% of your income for savings purposes?  Where do you save or invest?  Is your money earning more than 4 to 5% per year (this is the average inflation rate)?  Have you explored other savings vehicles aside from savings and time deposits?  Maybe its time to learn more about stocks, mutual funds, unit investment trust funds, variable or unit-linked insurance.  To learn more about personal finance, check out "www.investopedia.com" or search J. Randell Tiongson's (personal finance coach) blogs or grab a MoneySense magazine at National Bookstore.
***
4. Review your life insurance policies.  Do you already have a life insurance?  If you are the breadwinner of the family or you think your loved ones will suffer a financial loss in case of you pass away, then you need to get a life insurance.  If you already have one, check how much is the basic coverage and what are the other benefits/riders.  Do you have protection against disability and critical illness (i.e. cancer, stroke, heart attack, etc.)?  To know if your life insurance is enough, ask the help of a financial planner so he/she can perform a "financial needs" analysis.  You can ask me too, of course.  =)

***
5. Organize your financial documents.  Its time to dust off those important files and place them in secure/safe location.  These include your birth certificates, marriage certificates, land titles (TCTs), bank passbooks/statements, credit card statements, investment/stock certificates, insurance policies, memorial plans, health plans, etc.
***
6. Write your financial goals and dreams.  What are the things that you still want to accomplish in life?  Buy a new car, get that dream house, or study abroad, or set up a college plan for your kids, or a retirement fund for your self and spouse?  It helps to write it down, be specific and set a realistic deadline.  Since you will be on a vacation, pick a good spot (whether at home or by the beach) to reflect on the things you want to do and the legacy you want to leave for your family.  =)
***
7. For our retired parents.  For those who still have parents, I hope they are still well and enjoying their retirement.  What I will say next maybe a little sensitive, but I hope you will see the value of these things.  For one, we need to start thinking about "estate planning".  Estate planning is more than just preparing a last & will testatement.  It is more importantly about protecting and preserving the wealth they have accumulated by minimizing estate taxes in case at death.  Study about estate planning or consult a lawyer or financial planner.  Other things we need to consider now is getting a memorial plan and purchasing a memorial lot.
***
8. For our young children.  For those who have young kids at home, you need to start planning for their college education.  Where do you want them to study in college?   How much would it cost you in the future?  How will you save?  Are you going to save on your own, or will you purchase a college educational plan from reputable life insurance companies?
***
9. For our retirement years. When do you plan to retire?  What kind of lifestyle do you want to have when you retire?  Have you started saving for your retirement or "bahala na"?  How do you plan to save for your retirement?  Do you think your SSS or GSIS pension or your employer's retirement plan is enough?
***
10.  For our community.  Do we think only about ourselves and our families?  Or do we aim for a higher purpose of serving and giving back to our communities?  The Gospel today was about the 12 apostles and the Homily was about vocations.  The priest asked an important question, "We all have different vocations/careers.  Whatever vocations we have, how do we show Christ to others?"  Do we give our tithes, support a charity/foundation, help the poor in our own little way, or do we share our time, talents and treasures?  Maybe we can include just one more item in our financial budget for tithing, sharing and giving.

Hope this helps.

Ge  

Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo). 

FACEBOOK AND PERSONAL FINANCE

"Facebook helps you connect and share with the people in your life." - Mark Zuckerberg


"FinanceBook helps you achieve your financial goals for the most important people in your life." - Ge Cantor =)

I've searched the net to find out why people go to Facebook.  The common answers are the following:

• To keep in touch with friends;
• To re-connect with people you've lost contact with;
• To express yourself on your wall post or page;
• To reduce stress from work, studies, family, etc.; and
• To join a group of people with common interests

***
Facebook has definitely made an impact and will continuously affect our lives.  Do you FB at work, in school, at home or while in transit?  How long do you spend time checking those status updates/news, reading those shared quotes/stores, and viewing those pictures/videos?  Are you now "addicted" to FB? =)
***
In terms of personal finance, has FB helped us improve our finances?  Does it help us to be more productive at work that translates to high performance rating and higher bonuses?  Has FB help us control our expenses and improve our spending habits?  Maybe FB is not designed to do all these things.  So may I suggest another "FB", and this is your FinanceBook.
***

As in Facebook, you may start with your FinanceBook by creating your financial profile.  Your profile should include the following:

• Basic Information and Family - this about you, your age, your work, your relationship status (single, married, in a relationship or it's complicated); your family details (those dependent on you - your spouse, kids, your complicated bf/gf, etc.)
• Personal Financial Condition - this includes the list and corresponding values of your assets ("mga pag-aari") and liabilities ("mga pinagkakautangan").  Assets minus liabilities equals your Net Worth.  Do you have a positive or negative Net Worth?
• Cash Flow and Budgets - this includes your cash "ins" and cash "outs".  Cash "ins" are your monthly salary, income, commissions, allowance, "mga pinagkakakitaan" etc.  Cash "outs" are your monthly expenses, spending, bills, "gastos", "mga binabayaran" (savings/investments included).  Is your monthly income sufficient to cover your monthly expenses?  In other words, are you living below your means?  Are you following a monthly budget?
• Financial Goals and Dreams - What are your or your family's dreams and goals?  A new car, your own family house, pay-off all those debts, setting up a fund for your retirement or educational fund for your kids, etc.  Write it down, make it SMART as possible, cut out pictures or upload PHOTOS if you like (visualize your dreams).   By the way, this is applicable for everyone, whether you are single, married or in a complicated relationship. =)

***  
After setting up your financial profile in your FinanceBook, its time to "Add Friends".   You need friends to help you achieve your financial goals.  Here's the list of Finance Tools You May Know - See All:

To decrease your expenses/spending:

• Cash Flow Monitoring - so you can come up with a budget, it is better to write down your cash "ins" (income) and cash "outs" (expenses) for at least 3 months.  You may use a notebook, Microsoft Excel spreadsheet, or even your cellphone.  I suggest you keep your receipts for easier monitoring.  Just a warning, its gonna be hard to do this at first.  But if you can be on Facebook for an hour or more a day, why not update your FinanceBook for just 10 to 15 minutes a day or even 30 to 40 minutes every weekend!
• Credit Card Control - if you have a low self-control in using your credit cards, your best friend will be a "scissor" to cut in-half your credit card/s.  If you can't cut it immediately because it has an outstanding balance, your other friend can be your "refrigerator".  Put your credit card in the freezer and GO LEAVE HOME WITHOUT IT!
• ATM Control - similar to credit card, if you have a low self-control in using your ATM and you withdraw money everytime you see a SALE sign, better leave home without it and just bring enough cash for your daily needs.

To increase your income whether active or passive:

• Self-Assessment of Skills & Talents - can you earn extra bucks based on your current skills, knowledge, talents, hobbies?  Can you do networking, direct selling or be a Virtual Assistant ?
• eBay/Garage sale - can you sell stuff that you don't need anymore via traditional means (have a garage or "car booth" sale)  or on-line through e-Bay or sulit.com?  Hey, please don't sell items that are not yours!  Baka hanapin yan ni erpats or ni ermats!  =)
• Bank products and services - aside from savings and time deposits, your bank has other high-earning products like Unit Investment Trust Funds (UITFs).  You may also set-up an "automatic" savings facility with your bank wherein your bank will automatically set aside a certain portion of your monthly salary to a separate savings/investment account "para di mo na magalaw at magastos."
• Other investment vehicles/instruments - stocks, mutual funds, variable insurance, real estate, businesses, forex, hospital shares, etc.  There are a lot of choices.  Please assess your current knowledge and study.  Do your due diligence before getting into one of these investments.

To protect your income, the unexpected, and most importantly, your families. 

•  Life Insurance - whether we like it or not, there are the "what ifs" in life and we don't know when they will hit us.  "What if' the Lord suddenly calls us, or we become disabled, or we encounter an accident, or we are diagnosed with cancer???    I'd like to quote Mr. Efren Ll. Cruz's, RFP advice with regards to life insurance:  "Life insurance is a necessary expense for everyone, especially for the young.  Don't hide from the insurance agent. But do not fall for the fast talk of others as well.  Life insurance is there to protect income.  The best gauge of how much coverage you need is to know how much of income you want to protect." 
• Other insurance - Please consider also medical insurance or health cards for your family, car insurance, fire insurance for your homes and businesses.  Dapat parang boy scout,  laging handa!

(To be continued...)

"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success."  - Pablo Picasso

Hope this helps,

Ge

Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo). 

BASKETBALL FINANCE: Last 2 Minutes!!!

"I can do something else besides stuff a ball through a hoop. My biggest resource is my mind." - Kareem Abdul-Jabbar

After blogging about "No Other Woman"(love-triangle Filipino movie), which made about over 160 page views, I was thinking how can I top that!   The answer is maybe I will not.  But I still believe that after showbiz or "tsismis", basketball is still a favorite of Pinoys.
***
Its sad to think that there might be no NBA games this season because of the lockout.  Anyway, we still have the PBA.  And I can say they have some interesting rookies, especially Paul Lee.  He can definitely shoot!
***
Back to basketball finance.  Games are normally played in four quarters of 10 minutes (FIBA) or 12 minutes (NBA) each.  Whats nice before in the PBA was when the announcer would shout "LAST TWO MINUTES!!!". In personal finance, I've learned that we also play four quarters when it comes to our finances.
***
The first quarter is CASH MANAGEMENT.  This relates to how we handle money.  Do we budget and control our expenses?  Do we pay ourselves first before spending?  Do we monitor and record the "ins" and "outs" of our cash flows and compute our net worth (i.e. assets minus liabilities)? Do we distinguish between "wants" and "needs"?  Overall, how is our relationship with money?  In basketball, the first quarter sets the tone of the game.  It gives you a feel on how the game will progress.  That is why, the first five players are very important.  Same with personal finance, our attitude and discipline in handling money is key.
***

The second quarter is DEBT MANAGEMENT.   How is our debt-to-asset ratio?  Do we have more liabilities than assets?  Is our credit card balance like Pepsi MAX or Coke ZERO?  Are we experts now on "balance transfers" or simply getting a new debt to pay an old one?  In personal finance, financial planners advice people to invest in debt payment first, before investing in stocks, mutual funds, etc.  They even would advice that if you have excess cash in your savings accounts (that earn minimal interest), why not pay your credit cards first (which charge you an average interest of 3% per month).
***
The third quarter is RISK MANAGEMENT.  This includes both life and non-life insurance protection for you and your family.  To demonstrate the importance of risk management in personal finance, I would like to share some statistics I found out from the World Heath Organization report of 2010 with regards to the Philippines:

• Due to its geographical location along the so-called Pacific Ring of Fire and the typhoon belt, the country faces various natural disasters such as typhoons, landslides, volcanic eruptions and earthquakes.
• Since 2006, the Philippines has consistently been among those countries around the world most often hit by natural disasters and, in 2009, it topped the list, ranking third in terms of mortalities (1334 deaths) and second in terms of number of victims (13.4 millions).
• Mosquito-borne diseases, such as malaria, dengue and filariasis, are an ever-present danger in endemic areas.
• Latest statistics (2005) show that cardiovascular diseases, cancers, chronic respiratory diseases and diabetes continue to be among the country's top 10 killers. Hypertension and diseases of the heart ranked fourth and ninth among the ten leading causes of illness in 2008.
• In a study conducted by the Food and Nutrition Research Institute (FNRI) in 2003, it was found that 90% of Filipinos had one or more of the following risk factors: physical inactivity, smoking, obesity, hypertension, diabetes and abnormal cholesterol.
• Accidents of all types, including road traffic crashes, rank fourth among the causes of mortality for all age groups. Road traffic accidents constitute the fifth leading cause of injury death, with a mortality rate of
  39.1/100 000.
• Average life expectancy for Filipinos is 70 years old.

 ***
The fourth quarter in personal finance is WEALTH MANAGEMENT.  We now know how to handle money, pay/minimize our debts and protect ourselves.  The last step involves making our money work hard for us by using various investment vehicles (e.g. stocks, mutual funds, UITFs, business, etc.) that earn more than the current inflation of 4 to 5%.  Of course, we have to know the corresponding "risk" and "return" of a particular investment.  Generally, the higher the return or earnings, the higher the risk.  We need to assess ourselves too if we are conservative, moderate or aggressive when comes to investments.  Lastly, our investment strategies will depend on what we want to achieve, which is basically our personal financial goals.  Have you written down your short, medium and long-term financial goals? 
***
By the way, I would like to give credit to Mr. Efren Ll. Cruz, RFP who conceptualized this CD-RW (Cash, Debt, Risk and Wealth management) in personal financial management. Thanks a lot Sir Efren!  
***

Regardless of where we stand now.  Whether we are still trailing by 10 or even 50 points in the 2nd or 4th quarter, there is always hope.  We just need to make a decision from now on to JUST DO IT (by Nike) and believe that IMPOSSIBLE IS NOTHING (by Adidas).  In the PBA, the "never say die" Barangay Ginebra fans will fight to the finish.  After all, BILOG ANG BOLA!!!


Hope this helps,


Ge

Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo).  

"NO OTHER WOMAN": Love Triangles and Personal Finance

"Love is a circle not a triangle" - Sara Starr

Sorry gents, this one's for the ladies. I'll be going showbiz this time. =)

We had our weekly meeting last Monday.  Aside from business as usual, the other "important" agenda was this movie, "No Other Woman".  The ladies were so enthusiastically discussing about it, how nice was the story, what they've learned and the generalization that men are really "babaeros" in nature.  They say that the movie is a box office hit!!!.  Marami daw nakakarelate kase once in their lives, they were either Derek (the husband), Cristine (the wife), or Anne (the other woman)...

***

So what can we learn from this in terms of "personal finance".  Let's analyze per character.  Hey I did not watch the movie ha!.  Kinuwento lang nila. hehe

***

Let's start with Cristine, the faithful, loving wife.   She could be likened to "SAVINGS".  She could be  not exciting but she will always be there for YOU.  She's ready to give YOU a bright FUTURE but sometimes YOU just ignore her or don't give her importance.  Tsaka na lang tutal bata pa naman ako!!!  She can give you security, but sometimes YOU prioritize something/someone else.

***

Anne, the other woman, could be likened to "SPENDING".  She entices you to BUY high-end cellphones, laptops, watches, cars etc. because its exciting and exhilarating to get one!  YOU can show her off to your male friends.  YOU are just simply hypnotize by her beauty, her youth.  She is your NOW.  YOU are not concerned of the consequences, of the FUTURE, basta all you know is YOU are happy with her NOW.  Its the whole world against you and her.  You are willing to sacrifice your work, yourself, but more importantly your family.  You don't care about losing money, you just need to have her.  "Bahala na!"

***

Derek, the husband, is like everyone of us, the consumer public.  Everyday, we are bombarded by different ads/media.  Do we save ("Cristine") or do we just splurge and spend recklessly ("Anne")?  Do we start saving for our retirement or our kids' college education or get that life insurance?  Or do we really need to have the latest gadget or go travel abroad or have that new car?

***

A finance psychologist once said that if we want to improve our financial health, we should not just focus on making more money, but instead we should develop a better and healthier relationship with it.

***

I learned from a recollection that in order for us to solve any problem (money and relationship problems included), we need to have a "reality check" and first understand our "being".  Our being is made up of our personality type, behavioral patterns, values, beliefs, experiences, family upbringing, strengths and limitations.  Then we need to reflect on what are the things we still need to "outgrow" and what specific steps we need to take in order to improve or solve  that money or relationship problem.

***

Now on the question, whether are all men generally "babaeros".  Di naman!  You have to find out and understand his "being"  =) 

There is a funny quote that says:  "To be happy with a man you must understand him a lot and love him a little. To be happy with a woman you must love her a lot and not try to understand her at all."

Hope this helps.

Ge

Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo).  

BASKETBALL FINANCE: Personal Fouls

"These are my new shoes.  They're good shoes.  They won't make you rich like me, they won't make you rebound like me, they definitely won't make you handsome like me.  They'll only make you have shoes like me.  That's it."  ~From a Charles Barkley commercial for basketball shoes, 1993

Wikipedia defines a "personal foul" a breach of the rules that concerns illegal personal contact with an opponent. It is the most common type of foul in basketball.  Samples of personal fouls include pushing, holding, illegal use of hands, hand checking, and illegal use of elbows.  May I add some Tagalog terms such as "nambalya", "nanuntok", "naniko" at "nangurot sa singit" (like what happened to Asi Taulava during the FIBA Asian games.  =)

***

Now, I'd like to point out some "personal fouls" when it comes to one's finances.  Believe me, I have committed these mistakes too so I know what were the consequences.  I just want to share these with the hope of people, especially my friends and family, to avoid the same mistakes.

***

"KASKASPINOY"

"Kaskas" is a Tagalog slang for using your credit cards.  This is different from the CashCashPinoy (www.cashcashpinoy.com/) where you find the best deals in the Internet, although they make you "kaskas" your credit card as well.    

Having a credit card and using it is not bad per se.  The "personal foul" is when:

• You "kaskas" your credit card and you don't have the cash to pay for it come due date.  Basta kaskas lang ng kaskas.  Bahala na, may dadating naman ako na pera/suweldo next month! 
• You are not paying the full outstanding balance of your credit card bill.  
• When you can't even pay your minimum amount due.  This can be considered a "flagrant" foul already.
• Another "flagrant" foul is getting cash advance from your credit card, kase you need money or wala kang pambayad sa iba mong credit card.

***
"SM"

 I like going to SM.  My kids at a young age (ages 4 and 2) love to go to SM.  Sa London may Oxford Street at Brent Cross mall pero wala pa ring sinabi sa SM.  Again, walang masama sa pagpunta sa SM.  What I can consider "personal" fouls are when:

• Na-addict ka na sa SM.  Every week or every payday nasa SM ka at gumagastos ka kahit kapos o wala ka nang pera o baon ka na sa utang.  You have the attitude of "Di bale, di pa naman puno ang "credit card" ko."
• When SM to you is synonymous to always Spending Money, Shopping Monthly but not Saving Monthly, and Sakanalang Magipon.

***
"ATM"

We are happy with our banks that have a wide network of branches and Automated Teller Machines.  Our "customer friendly" banks make it convenient for us to easily gain access and withdraw money anytime and anywhere we want.  

Fair enough, but...you see our "mindset" when we see ATMs is to withdraw.  So the "personal foul" there is every payday, the first thing we do is look for the nearest ATM machine, check kung pumasok na ang suweldo and then withdraw AGAD dahil:  a) may babayaran na bills o utang;  b) maggrocery; c) may bibilhin na mga consumer goods (cellphones, clothes, etc.); d) may gimmick at sine/inuman mamaya; or e) ALL OF THE ABOVE


Financial planners are suggesting us to have an Automatic "Tago" Mindset.  "Tago" is a Tagalog word meaning to hide or in financial terms, to save.  Mahirap ito lalo na kung ang laging nating dahilan ay kulang pa ang suweldo natin.  Ok, I understand!  Maybe we can do it one small step at a time.  Maybe we can start saving lets say 1% or 5% of your suweldo every month.  Pag medyo may disiplina na sa paggastos at sa pagbudget, puwede natin taasan ng 10%, 15%,  20% o hanggang 30%.  Ang mahalaga, maging "habit" na natin ang magtago at magipon muna bago gumastos kada suweldo.
***

In basketball, a player is allowed to have six (6) "personal fouls" then he's out of the game.  In personal finance, its OK to commit "personal fouls"  but we need to learn from them in order not to do the same mistakes again.  A "foul-out" in personal finance could mean loss of properties, loss of family or even loss of "self-worth".


Hope this helps,


Ge


Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo).     

"iPhone" or "iPon"

Today marks the launching of my "iPon" project.  I sent out invites to most of my friends to take time out and have a one-on-one meeting with me to discuss about personal finance.  Its my way of sharing what I've learned so far on my journey towards financial freedom...
***

Why "iPon"?...."iPon" is a Filipino word meaning "savings".  My personal advocacy really is to educate people, especially fellow Filipinos, on the value of saving.  I learned during J.Randell Tiongson's Steps to Financial Peace seminar that we have the lowest savings rate in Asia and the world.  On the average, we, Filipinos only save around 15-18% of our earnings, while our Asian neighbors save over 30% of their income...
***
I always tell this story too.  When I worked in London back in 2004-2009, I met younger colleagues (early to late 20's) from different countries (i.e. UK, Australia, China, Portugal, New Zealand and Malaysia).  One commonality among them was they have a "savings" mentality.  At a young age, their priorities were to invest in stocks, mutual funds, business and real estate.  Meanwhile, me and my Filipino friends were just happy buying consumer goods like clothes, shoes, bags, watches, cellphones, etc.
***
Thus I thought of the "iPhone" vs. "iPon", which is more important?.  Lets review the facts.
***

"iPhone":  The latest model now is iPhone 4.  One of its slogans in Apple Store's website is:  "While everyone else was trying to keep up with iPhone, we were making it more powerful, easier to use, and more indispensable than ever. "  Is it really indispensable???...when will the iPhone 5, 6, 7, 8, etc. will be released?...To be honest, I like the iPhone...its cool and its hip!!!...I "want" one but I don't "need" one...In personal finance, one lesson I've learned is that before buying (esp. the major purchases), you have to ask yourself, is it a "want" or a "need"???
***
Meanwhile, "iPon" is neither sexy nor exciting nor cool.  You can "show off" your iPhone, but not your "iPon".  When you "iPon" you don't feel instant/immediate gratification.  In the book, "The Millionaire Next Door", one of the characteristics of America's millionaires is "They believe that financial independence is more important than displaying high social status....the wealthy aren't interested in status vehicles or other showy products. After all, it is much easier to appear wealthy than it is to be wealthy."
***
I'm keeping my fingers crossed.  I'm hoping my friends will accept this FREE  invitation for the "iPon" project.  I am devoting my personal time for the whole month of October to spread the importance of financial wellness.  I envision that this is just a baby step towards something bigger in the near future.  So "iPon" na tayo!!!  =)

Hope this helps,

Ge
Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo).     

A FAN'S REFLECTION ON PILIPINAS BASKETBOL

Last night, I read Chris Tiu's blog about his FIBA-Asia experience (http://chris-tiu.blogspot.com/2011/09/my-reflections-on-fiba-asia-part-2.html)...I'd like to share what Coach Baldwin of Jordan told him after their heartbreaking loss against Korea:  


"This is just the first of many more tougher games you will experience in life. Just remember to be the best player that you can be. More importantly, be the best person that you can be. Hold on to those two things and you will be fine."

 ***
Basketball is my passion ever since I was a kid. It started with Crispa vs. Toyota, then Lakers vs. Celtics, San Miguel vs. Ginebra, and of course, La Salle vs. Ateneo...I was so passionate about basketball that I even sent out my resume to some of the PBA teams in the 90s to apply for any position.  My cover letter even had a crazy line which states:  "I am an experienced auditor and I analyze business risks...perhaps I can help by analyzing risks in the team and help resolve and address risks...." =)...of course, no team replied.
***
After so many years, my passion started to dwindle...One reason maybe is I have seen several Philippine basketball teams compete internationally but we most of the time suffer heartbreaking defeats after the other....We keep on saying we were champions in the 70s....but that was it, WE HAVE TO MOVE ON!....Like most Filipino fans, I am still waiting when will we be Asian champions again, when will we beat China and when will we play in the Olympics.
***
To be honest, I rarely watch the PBA games anymore...I follow the NBA only when its championship time....but recently, the Smart Gilas Pilipinas team caught my attention....I began to follow their FIBA games....deep inside, I was hoping that we can beat China and win a medal!!!...but as usual,...
***
But there is a glimmer of hope....that's in the person of MVP...he said he is determined to bring the team back to the Olympics....of course, he can't do it by himself....he needs more help...
***
What do we need to do???  Here are my 2 cents worth of opinion...
***
More international competitions to gain experience....***

Bigger players...maybe our scientists/nutritionists should study how can we Filipinos improve our genetics and be taller....I was able to visit The Netherlands (the Dutch are the tallest people in the world)....you know what, most adults drink milk even during lunch....maybe we need to do this???
***
Better coaching and training....Coach Toroman was great....but he needs more assistance from internationally experienced coaches and trainers...we also need to train all year long....not just a few months before the competition...
***
Aside from physical training, players should also undergo MENTAL training....to instill in them the KILLER INSTINCT.... that they are WINNERS and that they can shoot their FREE THROWS during crucial stages...=)
***
Tap the GLOBAL FILIPINO BUT DON'T FORGET THE LOCAL PINOY....hey, I don't mind having Fil-Ams, Fil-Brits, Fil-Tongan, etc....but I believe somewhere in the far-flung areas of Luzon, Visayas, and Mindanao, there are talents waiting to be tapped and honed....
***
I believe also that a Filipino is already born to PLAY IN THE NBA....somewhere out there....we just have to wait PATIENTLY...
***
ONLY BEST OF THE BEST FOR THE TEAM....Only the best players should be part of the team...no "politics"...no "palakasan"...no "padrino"...not because he is from La Salle or Ateneo...not because he is "pogi" or "mestiso"...not because he is Fil-Am....tryouts should be open to the public, both for professionals and amateurs....
***
Screen and select PLAYERS who are  WILLING TO SACRIFICE for the team for the LONG-TERM ....those who are WHOLE-HEARTEDLY committed to play for the team...we want players who will give ALL-OUT,  110 percent!...sabi nga ni Jawo, "patay kung patay!!!"...they should not worry about getting injured or not being able to play in the PBA....
***
Maybe we can adopt Freddie Roach's advice to Pacquiao on NO MORE MR. NICE GUY!!! I think we Filipinos are generally friendly and compassionate...but come competition time, we should knock them out!!!

***
Lastly, we are still a Christian country...so PRAYERS still work....only in GOD's time we will again attain BASKETBALL SUPREMACY....all for the GLORY OF GOD!!!
***
Hey, these are just comments from a Pilipinas basketball fan....maybe, those people on top should start listening and tapping each and every fan who are willing to help and contribute...not just the known and chosen few....imagine millions of people focusing and helping out for one common goal....Go Pilipinas!!! 


Hope this helps and keep on dreaming...


Ge
Gerald Cantor is a Registered Financial Planner graduate and a Financial Consultant of Pru Life UK.  He is also a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (2yo).