Monday, April 29, 2013

Financial Checklist

I don't want to be mean, but I am, maybe... and judgmental even... And this may not be a very nice post. If you don't want to transgress, stop reading now, but if you want to keep reading, you may proceed at your own risk.  

I remember some months ago, my hubby was browsing his Facebook page and he was looking at some photos of a friend of his who is a what we call, "a rich man's daughter. " I've been introduced to this friend some time ago as well. According to my husband's story, he's known this friend for a long time and the way he would tell stories about her is that she is a free spirited, happy go lucky girl. Someone who can get any boy that she wants and buy anything her money could buy. 

Anyway, back to that conversation while my husband was browsing FB... he called me, and showed his friend's picture at a beautiful place abroad. He said, "This friend of mine! is FINANCIALLY SAFE!"  

Smiling, I just said, "Really? How safe?"

How could she be financially safe when all she does is spend money? I get what he meant, as you can see she is a business tycoon's daughter. But for reals, let's elaborate. On top of this post, is a picture I stole from an FB  group called Journey to Your Financial Independence. The reason why it's there is because, when I saw it posted, It reminded me of my husband's friend. "How financially safe is she really?" 

With her kind of attitude and lifestyle. It'll be easy to gauge how financially safe she is by doing a checklist based on the picture above; and according to my husband's story of her. One by one: (bottom ladder step first)

Step 1: Work and Earn --> Check, well yah maybe, AFAIK (as far as I know) she just resigned from her job, because she is pregnant now and she just got married.

Step 2: Make a budget --> "Budget? What budget???"

Step 3: Record Expenditures --> "Sky is the limit!"

Step 4: Have a Bank Account --> We'll she probably has, one that daddy has been chipping money in, and her hubby's too!

Step 5: Carry life insurance --> One that her office provides for her, while she was employed or maybe daddy is the insurance provider. So, check on this one!

Step 6: Own you home --> Well, getting there, since the girl just got married, they're going to get a housing loan one day, in the meantime, almost is the same as never.

Step 7: Make a Will  --> Daddy has a will! or did he already make it? In time, she's gonna be like the Hilton heiress, watch out world!

Step 8: Invest Carefully --> Her dad owns some hotels! (oops, I hope I will not be too obvious), businesses! and her mommy has too! that's investment enough. I've never really heard from my husband that she mentioned about some shares of stocks or something great, though maybe she may have.

Step 9: Pay bills promptly --> check-ish! (Don't forget the savvy cellphone should never loose credit calls, it raises her status quo).

Step 10: Share with others --> Check! Her money or not, when it comes to her friends, she is all out. No matter how much money she spends so long as she is admired, and people should be happy or at least pretend to be happy while with her.

Question, how financially safe is she really? You decide! Now that I'm about to finish this blog, I have to be sure to make my life in order and focus on my priorities. Otherwise it would be embarrassing if I will not have any progress because of the consequence of judging her, and loosing my own focus. Time for self measurement!

As for me, I just don't believe that a person is financially safe if they don't live according to the basic financial principle that the truly rich have. Money takes time to earn, yet very easy to spend and loose. It drives me nuts, to know that some people are as vain as can be without being punished for it. Or if they are, they're not recognizing it. Not that I want these people to be cursed. I felt pity more that admiration. Maybe, it's just the stingy personality in me that questions, "When will they ever learn?" Now, let  me get back to myself, thank you.

To the those whom we consider as YOLO (you only live once) Open your eyes! There are ways to learn, and we ought to start to learn. To save, budget and invest. It's the only sure way to be financially safe. 

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