After finishing college, all that I wanted is just to work and get a fat paycheck. I thought all professionals are like that, not until I landed my first job. While signing the contract, I want to grab the HR by her collar and tell this line, “excuse me pero engineer ako.” (Sorry for sounding too entitled because that’s what I thought.) But as days go by, I come to realize and eventually rephrase that line into “Oo, engineer nga lang pala ako.”
My Poor Mindset
I don’t have a job experience yet, so I accepted the offer and the fact that I’ll be paid only with that much. I soon shifted my focus on honing my skills and delivering tasks required by the job with high hopes of getting a salary increase. After a few months, I did get the increase I wanted, so I was thrilled by that time. This routine continued for some time until I felt that something was wrong. I’m exhausting myself just to get a small increase in return.
I’m telling myself that it’s okay, and money is not everything. At the same time, I was telling myself that I need to step up and do something about my dreams more than ever. It was when I asked those I know in the industry, telecommunications, who’ve worked for years the most intriguing question “how well compensated are you.” If I am staying in the industry, I’d like to know how much I will be worth after some years. Is it worth it to get a master’s degree? Will it add value to me? Will I get the increase I
Enriching My Mindset with Rich Dad Poor Dad
I don’t know that I’m already experiencing a quarter-life crisis at that time. I was in deep thought about the quality and direction of my life. Of course, who would want to work their entire life for nothing, right? The only thing clear to me at that time is that I don’t want to experience any financial difficulties throughout my life. I was lucky indeed to have a colleague/friend who introduced me to personal finance and shared a book called “Rich Dad Poor Dad” by Robert Kiyosaki.
Just to let you know that this is not a paid post, nor I’m selling the book. To start, I’m not even a bookworm, and the only time I read books is when I need it in school. I was like, “me reading the book is a joke.” Also, you won’t lose anything; you may even learn a lot from it. So I gave it a try, not thinking about how it will change my financial future. I finished the entire thing in a day because it was so good. Enough said, these are the things that I learned, though impactful but straightforward.
Assets vs. Liabilities
I learned about it in our economics class in high school, so I was not pretty excited about it. But what I know is about companies having assets and liabilities. In this book, I realized how I could use the same old concept on my finances. Imagine how Robert simply describes an asset as something that will add value to oneself else it’s considered a liability. A car, for example, can be an asset if used in logistics for a business. If you buy it for convenience, then it is considered a liability due to depreciation, maintenance, parking fees, etc.
Learn to Earn
Kiyosaki describes fear as an obstacle that impedes us from being successful. Often we are too scared to lose but end up losing. Learning how to handle and mitigate risk is one of the secrets of wealthy people. Imagine if you are playing safe at all times, you will just end up losing the opportunities right before your eyes just because you’re scared. Knowledge is the key. And remember that the investment in knowledge always pays the best interest.
Surround Yourself with Successful People
Another topic he discussed is about surrounding yourself with successful people. Finding the right people and having their successes will guide you in the right way. If your friends often say “you won’t make it” or “you’re not good at it,” then I guess it’s time to make a change. As they say, the only person who can tell you that you can’t is yourself. If you can, then you will. What you think you become.
If you would like to jumpstart your financial journey and learn more about investing, then this book is for you. The length and word selection are just right for newbies like us. Who would have thought that this pocket-sized book can change how you handle your money. You can grab a copy of this book in almost all bookstore, or you may buy it online. Please kindly share your thoughts here once done reading the book. Would love to hear from you 🙂
Federico is an electronics engineer, financial blogger, insurance agent, and a certified investment solicitor. A multi-awarded financial advisor with clients ranging from lawyers, doctors, engineers, accountants, business owners, company directors, and OFWs to minimum wage earners had sought advice from him in achieving lifetime financial freedom.