Skiddoo Philippines Inc

What Will Make You Poor This Year

We just said goodbye to just one of the most emotional, heartbreaking, yet hopeful year of the century. Resilience was the overused and over-abused but truthful word last year that came out from the mouths of foreign media men, politicians, and Hollywood celebrities alike.

In my opinion, being resilient is good but not enough. If we never learn from previous mistakes in making financial decisions, calamities or no calamities, we will still remain poor.

These and the following bad financial decisions will bury you further in brokenness and anxiety. Although they may not always be applicable to you but I’m pretty sure you definitely know someone who will, in one way or another, become a (willing) victim of these circumstances.

1) Not giving value to yourself.  Buying what you can’t afford is one of the greatest sadism and utter disrespect to yourself. Never ever spend more than what you earn. It’s way better to choose a lifetime of having just enough than being forever in debt. Keep your expenses in line with or below your income.

2) Not paying up debts and continuously borrowing money for nothing. I know a lot of people who rely heavily on debt for their personal and family use. I know because I used to be one of them. A debt, regardless of amount, is always too much. If you can’t pay your previous debts and loans then stop borrowing.

3) Not believing in building an emergency fund. More and more “enlightened” investors are starting to not believe in the importance of an emergency fund. They believe building one is virtually impossible. But the hard truth is if you don’t establish your emergency fund and you continue to top up debts and investment then you’re setting up yourself in financial trouble. Know how to establish your emergency fund.

4) Not getting a life insurance. When you are exposed to injury or death or your investments in losses or lawsuits and you don’t have proper coverage then you are like setting fire on what you’ve worked hard for. If you die and your loved ones don’t have any investments of their own, then they will probably suffer in hunger and poverty too. Show your love to them by insuring yourself and your assets. You might also need to consider getting other types of insurance like health insurance, or home and car insurance.

5) Relying on SSS and GSIS alone. In my previous article “Should You Rely Your Retirement on SSS and GSIS Pension Alone?”, I mentioned that social security is a good starting point for a saving individual but is never the perfect recipe for retirement planning. It’s just an icing on the cake.


6) Believing in too-good-to-be-true get-rich-quick-schemes. Not grounding yourself on moral foundations may make you an easy prey for greed and greedy people. The problem with most people is that they want to make easy money on a scheme without even understanding how that particular “investment” works. Never believe in online offers that promise to teach you how to earn thousands and give you millions in the near future. Research and study first before you “investing” your money. You might just as well invest it in mutual funds or UITF’s.

7) Putting money above God and family. In my past several years of investing, I encountered people who either believe that everything they gained came from God and is owned by God or those who believe that their profits and financial successes are the fruits of their own intelligence and hard work. Remember that we are all but stewards of God’s resources and riches. Money’s ultimate purpose is to be shared to others. It should be used as means and tool to achieve Godly goals for ourselves and our loved ones.

What are the other financial mistakes you made last year? Have you been able to avoid some of them? Do you have more suggestions to prevent poverty from slowly creeping into our lives?

Follow my posts this Season by subscribing to Rock To Riches.

Join the OFW UsapangPiso Facebook Group to learn how to plan your finances the right way and how to grow your money in various financial instruments and investment vehicles such as stocks, mutual funds, UITF’s, bonds, money market, real estate, and others.

Have a Merry Christmas and an Abundant 2016!



Rock your way to abundance!


P.S. 1. Are you an OFW who’s been looking for a investment placement where your money could grow higher than your time deposit accounts? Are you outside of Metro Manila and would like to start investing in mutual funds but have no personal advisors to help you out? Click here so I can help you open a mutual fund account NOW! .

P.S. 2. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at if you have any questions. Click here to join!

P.S. 3. My co-author/illustrator Des Feliciano and I have just launched our “The Adventures of Pepot Kuripot and Dora Gastadora” comic book! It’s arguably the first and only personal finance-influenced comic book in the Philippines. You may grab your copy before Christmas at your favorite National Bookstore and Powerbooks outlets. Or you can grab your copy yourself at The Pantry at 07 in Makati City and ilovemilktea in Las Pinas City. Now available also in Australia, Saudi Arabia, and the USA! Email for more details.

P.S. 4. Yes, our Cyberpreneur Philippines book is now out in bookstores! Check out the chapters from my fellow authors Ray Calbay, Fitz Villafuerte, Ginger Arboleda, Kristel Silang, Marv de Leon, Paolo Lising, Anne Quintos, and other great online entrepreneurs and experts! Score your copy here now!

P.S. 5. Send healthcare and grocery products online to your loved ones in the Philippines via BeamandGo!

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