Be Like LeBron and Money Matters

"Success is a result of consistent practice of winning skills and actions. There is nothing miraculous about the process. There is no luck involved. Amateurs hope, professionals work." - Bill Russell (11-time NBA Champion)

Finally we have a champion and we can all go back to work! =)

Congratulations to the Miami Heat for the back-to-back championship. A victory of the Heat is always a triumph for Filipinos as represented by Fil-Am Coach Spo!

To the San Antonio Spurs, my full respect and admiration to your team!  To Tim Duncan, don't retire yet.  Please continue representing the "old guys" like us!  As they say, BASKETBALL NEVER STOPS!

After a thrilling NBA playoffs and finals series, I bet there will be a lot of people who will be "motivated" to play basketball again and start imitating their idols.  And the marketing people of all basketball-related consumer brands will pound you with all the advertising gimmicks to be a "WITNESS."  But, are these money wise?

Now everyone wants to be "like LeBron" and one way to be like King James is to have his shoes.  Price?  Based on Nike Park's page, The AirMax LeBron X Low is selling at Php 8,195.  LeBron's PS Elite is at a whopping price of Php 11,995.

Before "JUST DOING IT" and buying, we need to ask ourselves - is this a want or a need?  do I have a debt that I need to pay first? do I just save the money for "emergency" purposes?  do I start investing in the stock market or other "earning" assets, instead?  do I insure myself or my house first?  do I start saving for my children's future education as first priority?

I guess it all depends on your current financial situation. I have a millionaire friend who owns several businesses and he loves basketball.  One time he said, he will never buy a basketball shoes for more that Php 5,000.  And that is why he is rich!  

A long time ago, I thought that to be "like Mike" is to have the latest Air Jordan shoes.  Now, to be like Mike for me is to have the passion, persistence and focus to be the best you want to be (not just the shoes)!

Hope this helps.

Ge

Gerald “Ge” Cantor’s mission is to help Filipinos save and invest for their future while protecting themselves and their families for the present.  Ge is a Financial Adviser of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines Corporation (www.personalfinance.ph), a Registered Financial Planner graduate (www.rfp.ph), a  Certified Public Accountant (CPA), a Certified Internal Auditor (CIA), a Son of Lourdes (LSM), and a La Sallian (Animo La Salle!).  Ge is proud to be an ex-OFW, a "career-shifter", an entrepreneur, a "frustrated" baller, and most importantly, a "proud" dad of Gia and Clarie. You may e-mail him at geccantor@hotmail.com, or contact him at 09177069333 or visit https://www.facebook.com/iPon.ph for more iPon tips.