Money is one of the reason we are working, we need our salary to sustain our needs. It sounds sarcastic but it is true.

I remember asking in the seminar that I usually conduct; who among them love their job, to my surprise, all of them raised their hands.

When I ask them again; who wants to work the same job 8 hours a day without pay, nobody raised their hands.

Then I ask them the third time who loves their job, nobody raised their hands anymore.

It simply shows that you are working because you have a salary.

It is not the physical money that brings us happiness. It is what it can buy and how you will use it. How you convert money in order to make you happy is what matters.

You can convert money into:

  1. Tech Stuff (e.g. Appliances, computers, etc.)
  2. Car
  3. House
  4. Food
  5. Utilities (e.g. Electricity, water, etc.)

In short, this is where your money goes.

But beyond that, there are other payments that you need to know.

Your money is further deducted into other categories or necessities:

  1. House and Lot Taxes
  2. Medical expenses
  3. Income tax
  4. Education, training, and related seminars
  5. Maintenance (e.g. Car, house, etc.)
  6. And a lot more…

All of this comes full circle to a single word that we are all familiar with.


You can only predict on how much you have spent but you cannot control it once you get the habit of doing it.

Your worst enemy is YOU when it comes to buying

Knowing is winning half the battle.

You must know when to spend your money and how you should spend it.

You only have 40 years to save until to retire. But the problem is, you are spending more than you are earning.

Look at the stuff you have in your house or your room.

If 80% of it belongs to the NEEDS requirement, and 20% are for the WANTS, you can safely say that you’ve spent your money wisely.

But if it is the other way around; you have a spending habit that needs to be corrected.

You must know your WANTS and NEEDS

Cost of living also affects the price of our commodities.

The money that you save in the bank now may not be enough to sustain your monthly expenses when you retire due to high cost of living and inflation rate.

If you don’t have a list of where your money goes, you will end up losing a lot of it without knowledge of why you lost it.

Information makes you aware but not make you rich overnight

The publishes their list regarding savings and spending habits of countries. Surprisingly the Filipinos are improving.

Awareness on financial management or financial literacy has a big role in making it happen.

Financial management includes:

  1. Planning personal finances
  2. Ownership of several financial products such as investments and INSURANCE.

These are a common problem to everybody that is why they always end up in having a large amount of debt.

EMERGENCY FUND are also necessary in every person’s list of must have. You can only last 3 months without a job.

The sad truth is all seafarers are working on a contractual basis. After the contract, they go home for their vacation without salary and waiting for the next schedule.

If for some reason you were not able go onboard the vessel (e.g. Health problem, not hirable anymore) your financial status and family’s future is on the line and after 6 months, you’ll have a large amount of debt and big loans to pay.

Although, other employee has a monthly income, few of them understand the importance of having an emergency fund.

On the other hand, seafarers are eager to jump into business, investing their savings into a gamble that they never understood.


Seafarers are taught to navigate, repair the ship, manage the crew and ship, but not to manage his own business.

You may get overwhelmed on the preparation, system, money that you will invest, but in the end you just don’t earn back the money you spent.

You MISS OUT the factors you need to know for your business to prosper and that is YOU.

If you are not there physically at the developing stage of your business, you have already put your money or savings at risk.

Unless you have an idea about the business you wanted to venture, think twice.

Business is all about Raw Material/Product, Man Power, and Marketing.

Spend time to do this tips before it is too late.

How will you correct your spending habit?

Here are tips you can use:

  • List down your expenses for the past 3 to 6 months. Categorize your expenses and list down the sum of the amount you have spent per category.
  • If you have put a price on your expenses, separate your list between the NEEDS and WANTS column.
  • Collect all your credit cards put them on a drawer and lock it.

If you don’t know how to use your credit cards, it is better that you keep them locked and use them only if necessary. If you always bring them with you. Chances are it will be used. It is better to pay in cash all the time

  • Write this two questions on a piece of paper and post it on your refrigerator:

“Do I Need This?” – “What is My Next Action”

Whenever you are in your BUYING MODE, ask yourself that question. Then, you will understand why you need to buy only the things that you need what you need.

  • Apply the 80/20 rule to your salary.

80% of your salary is the amount that you’ll be spending, and 20% of it you will save as emergency fund. On that 80% you will pay your bills and buy other stuffs that you need. It will be your monthly budget for expenses.

If you respect yourself, you will decide to save for your future. Your savings is for your future and for your family.


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