Peso Korner

Peso Korner

Sunday, September 7, 2014

Do You Have What It Takes to be a Millionaire?


Have you watched “The Billionaire? Well, it’s a rag to riches inspiring real life story of a boy with a great entrepreneurial ambition. He is one of the youngest self-made billionaires in Thailand at the age of 19. His story is about his business ventures and the hardships he encountered along the way to achieve success.  One point in the movie was when his father declared bankruptcy and they ended up with a 40M baht in debt, his parents decided to go back to China and he opted to be left behind to pursue his dreams.  He stopped schooling, failed so many times with his ventures and also lost his girlfriend in the process.  He was left with nothing but determination to succeed, he never gave up and he ends up as what? A billionaire!
There are those fortunate to be born millionaires. But the truth is, it is a great experience to know how it feels to be "poor" because it will motivate you to work harder right? It will teach you to be tougher and dream bigger so as not to go back to that desperate feeling of being “poor”.
I can’t think of a better way to start my introductory blog than sharing one post from my travel blog entitled “Dream Big and Make it Happen“. Allow me to insert some excerpts here:
“My 10-year-old nephew asked me once out of the blue, “Tita bakit ka mayaman?” (Tita, why are you rich?) I was caught off guard and I told him how can he say that I am rich? He replied because I’m still young and yet I have several properties, I have my own car and I can go anywhere I want. It wasn't easy to explain, but I told him I am not “rich”; I just know how to control my spending with the money that I have."
Which is actually true. It’s not how much you are earning, it’s how you live your life knowing your financial limitations and goals.
What’s your financial goals? It should be something tangible, like a new smartphone? A new car? Or your very own condo? Mine was common, to have my own house & lot , a car and a chance to travel all over the world  before I settle down (ambitious right? hehe).  Was I able to achieve it? I am very proud to say, YES! So list down your financial goals now and every time you are tempted to spend for something that is not in your list, control yourself and FOCUS on your goals!
Identify your financial limitations, make a summary of your monthly income and list down all your expenses in a month, set aside around 15% to 20% of your net pay for your savings. Identifying all your expenditures in a month is knowing your financial limitations. If you are left with P1k are you still going to buy a P1,500 branded shoes?? Identify your limitation and stick to it, limit your spending to what you can only afford and target a debt-free life! 
“I grew up with simple needs and a simple life. I believe as we go through our trials in life, it shapes and molds the person we eventually become.”
I shop at Ukay-Ukay, I don’t care if I only own 1 pair of sneakers, 1 pair of slippers and 1 pair of office shoes! I only maintain 1 bag for work, I only buy once the thing I'm using is no longer usable. I don’t care about branded stuffs, I go for the comfort and price. I don't want to practice having things I can live without ... In other words, if you really want to save,  keyword is SELF-CONTROL!  What we need is proper discipline.. If a lot of pinoys were able to do it,  and Itthipat Kulapongvanich of  “The Billionaire”,  so of course we can do it too!  So, do you have what it takes to be a millionaire??


17 comments:

  1. This is really helpful considering that I'm a bit of an impulsive shopper. Lol. Thanks for sharing, hun! ^_^

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    1. You are most welcome Yette! Thanks for dropping by. ;)

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  2. This is a good read! Everything that you wrote is true, especially when you mentioned self-control. Can I just add that we should also determine what we need and what we want so that we will not end up buying on impluse.

    xoxo
    MrsMartinez

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    1. Thanks Mrs Martinez for dropping by! Yap actually I'm planning on a separate post for the difference between needs and wants. thanks for the feedback! ;)

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    2. I love sales, so when I see toys or anything half price or sometimes 70% off, even if I don't need it, I feel inclined to buy thinking that I am saving.. then I will excitedly show it to my hubby, saying look, this toy was half price.. with a disapproved look, he will say, you'll save more if you did not bought it, they don't need it! He's actually right. Most often the toys I bought for my children will only in favor for a day, lucky if it's a week, but it usually end up somewhere in the house unloved, a waste of money!

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  3. I love reading these kinds of articles. Most people nowadays are one-day millionaires. Kakasweldo lang, waldas agad. It really takes a lot of discipline to save, moreover to invest in businesses and other stuff.

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  4. SALE season can be very tempting and it is important to stick to your budget to avoid overspending.

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  5. I really learnt so much this evening after reading this my mind told me i can be whoever i want to be,

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  6. Amazing! I am more pump up now. I want to be that 20%. Thank you for inspiring!

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  7. appear can relate me sa iyong principle and financial goals. Wala pa ako sa level mo ( i don't have my own car, house and lot and I can't travel as often as I want) , but it's inspiring to read this post.

    Keep it up!

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  8. Living a life contented can make you even richer than a billionaire wanting more. It's really important to live simple and live within your means.

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  9. One thing I have yet to do is to really sit down and write what my financial goals are. I think I should start doing that asap.

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  10. I watched that movie last Sunday and it indeed was very inspiring. I myself am a young entrepreneur and I got really motivated to follow his footsteps and never stop pushing myself to reach my goals (financially).

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  11. san po to pinalabas ate. hindi q po ata napanood ito. all your words here are true and naniniwala din po aq sa mga kabihan. if you want to be a billionaire or anything you need to pursue it and pagsikapan mo. basta may tiyaga may nilaga, di po ba :-)

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  12. I don't think I have what it takes to be a millionaire, not right now anyway, but thanks for the tips. I learned a lot, and I know now where to start.

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  13. I think I haven't seen it. I should take a look on and and see the story myself.

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  14. This story is so motivational. This kid reminds me of myself, being so ambitious to prove my abilities to the world, no matter my illimitable failures. The only difference is that my starry moment has not come up yet, lol!

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