I am in a situation now where I am still learning financing, budgeting and saving. Even now, I’m struggling because money-saving was never my strength and I always have a hard time saving the past years. While I saved a little, I spend more than save and I get really frustrated when I find out I haven’t saved up a lot for the future.
It is only recently when I asked a friend about saving that I learning budgeting, financing and saving. But I feel it is not enough and I still need more information and knowledge in saving for the future without getting technical.
This is when I had the opportunity to get and read “I Wish Thet Taught Money in High School” by Clarissa Serina-De La Paz and Sharon W. Que. It is a 2-in-1 back-to-back book where the authors tell their views on money, financing, budgeting and saving in two different perspectives. One part is from an employee perspective, while the other part is from an entrepreneur.
I am glad this book came into my life (naks!) because it helped me change my views on money and some things will be very helpful. I am not into highlighting books, but in this case, I wanted to because the book taught many points. I’ll be reviewing both parts, so bear with me since it might be a long post.
Review and Thoughts| “I Wish They Taught Money in High School: So I’m Not Dependent on My Paycheck” by Clarissa Serina-De La Paz
Clarissa Serina-De La Paz discusses money in an employee’s perspective and wished they taught money in high school so employees are not dependent solely on their paycheck. I can totally relate to this part because I have been an employee since 2008 and solely dependent on my paycheck. It was only in 2010 that I learned to do freelance writing for extra income; yet I haven’t established myself well when it comes to this field—so I’m still in the nitty-gritty. It is only now that I am learning to use my extra income as savings.
I would like to emphasize my favorites/highlights in this part:
1. We can make something out of nothing.
“My knowledge, my talents, and other acquired skills, when put to good use, become money.”
This is something that I agree and can totally relate, especially now I am doing freelance writing. I don’t have to put out any cash, because I get/find clients, write for them online or offline and earn extra income from them. If before I use my extra income to pay bills and other expenses, now I make sure to save them up and not spend it. I can use that money for other investments (or maybe put up a business).
I have yet to list down my other talents and skills to see if I can use them for extra income.
2. You have a dream.
I know I have dreams but do I know them specifically? I think it is time to list them down and put dealines so I have real goals in life
3. Paying Yourself first.
This is something I lacked before and would really do for 2014 and beyond. After all, you have to reward yourself too, right?
4. Money Myths
To tell you the truth, I was really afraid of money before and avoided it. But one way or another, we have to talk about it. This part of the book really helped me open up to money myths and why we should never be scared of money, debts and credit cards. It all comes to one word: responsibility. These three are not evil if you are responsible enough to use and pay them on time and in full. Once done, money won’t be a big problem. That is something I have to learn this 2014—be responsible with my money.
5. Work SMART
This five tips will definitely help me in dealing with money and how I won’t become solely dependent on my paycheck. I will be back on reading this part many times until it has become my mantra and applied it fully in my life.
6. Navigational Tools to Help in Fulfilling My Dreams
This is one of my favorites/highlights in this part: The Millionaire’s Log, where you list down everything about yourself, your finances, dreams, money map and, of course, you gratitudes and blessings in life. I have been focusing on the negatives sometimes that I forget to look at the positive things in my life. I’ll be starting this soon and would dedicate a journal for this.
All in all, I super love this part and learned many things about money. After reading this, I now know it is time to take action and earn the passive/extra income I need in fulfilling my dreams. Depending solely on my paycheck is very hard, especially on my part when it takes days for my money to reach the bank. At least with a passive income, I save up more and maybe even make my dreams come true sooner than I think. I am not afraid of money anymore, thanks to Ms. Clarissa.
Review and Thoughts| “I Wish Thet Taught Money in High School: So I Can Start My Own Business Right Away” by Sharon W. Que
Sharon W. Que discusses money in the perspective of an entrepreneur where she wishes they taught money in high school so anyone can start their business right away. This part is also good for me because I have been contemplating for months if I want to start a mini-business just for extra income. For now, I have some ideas like reselling stuff or selling my second-hand things. But when it comes to full-blown business, I am sort of scared because I feel I don’t have the capability.
This part from Ms. Sharon changed that and I am considering doing a full-blown business—but not for now. I would like to see and try if I really have the knack for business by selling stuff online. I have to research what I would sell, but I’ll make sure it is something I want so I can easily do sales talk hehehe J
Anyway, here are some highlights/favorites from Ms. Sharon’s part:
1. Qualities of a good businessman
I have to say I agree with these qualities and I admit, I still lack some. But that doesn’t mean I will give up and will see if I can improve on those I lack. Those who want to go to business have to keep these qualities in mind because they will be helpful in the future and might even be the reasons of your success.
What more can I say? That says it all. If you have specific goals in life and really know what you want, it is easier to get what you want. I want this to be one of my mantras in life.
3. You can use other people’s money and put it to good use.
This is something new to me. You can use other people’s money to start your own business, which means borrowing money is an option. Of course, you have to set in your mind that you will pay them once you are good and must plan it out well.
4. Secrets to reaching your goals
5. Enrich your mind, your skills, and your relationships.
6. Do your research and take simple steps when setting up a business.
Setting up a business is no joke, so taking it slowly is a good thing. Research, read about the market, take notes, list ideas and many more. While it might take long, it is still good to think it out carefully and plan.
And another thing that Ms. Sharon taught me is it is never wrong to set up a business with friends. I am considering asking close friends about setting up a business together and maybe I might do that someday when I have planned it out. Of course there will be times when the friendship will be tested, but it is here that business will either fail or succeed—and that will be up to you.
Altogether, this book taught me a lot about money, having extra income and business. I am sure I will be reading this more than once because it is very helpful in my financial life. With the help of this book, I know I can improve my budgeting, financing and money-saving. It is one of the best books I have read and I can’t wait to apply what them in my life.
I encourage my readers to get a copy of “I Wish They Taught Money in High School” by Clarissa Serina-De La Paz and Sharon W. Que, especially if you are on a financial bind and don’t know how to get out of it. If you are interested, you can buy the book in their website Lifestyle Upgrade 101, which is priced at P500.00
Thanks to Ms. Divine RC for giving me this opportunity and to Ms. Clarissa and Ms. Sharon for sharing their knowledge in this book