The Pinoy Version: 12-Step “Guide to Financial Success”

Business Success In The PhilippinesMoney is essential in life; all people need it.

We work hard to have it, for our family, for our children, or for our future.

We may have different reasons but the main point is, do you know how to handle your money?

Having money is not the solution of everything because having money alone is useless especially when you are not “wise” in spending it.

Just like money, proper and correct way of using it is equally important.

Have you experienced to be in trouble because of problem in money handling? Like spending your money to buy your wants and suddenly ruin your budget?

If so, you’re really in trouble but don’t you worry here are some steps to guide you to financial success, taken from mappingyourfuture.org. Read it to find your new way for a brighter future.

12-Step “Guide to Financial Success”

Step 1: Be accountable and responsible(accepting responsibility, you are in control of your financial future, and every choice you make can have an impact.)

Step 2: Plot your course(effectively manage your finances if you don’t know how much money you have available to spend or have a plan on how you want to spend, invest, and save.)

Step 3: Understand your income

Step 4: Open a checking account(A checking account is a secure place to keep your money and helps you track your money.)

Step 5: Start saving and investing(Establishing a savings account is the best way to help you financially deal with the uncertainties of life)

Step 6: Create a budget(the best way to ensure you are in control of your financial future. Think of your budget as a spending plan. It helps you be aware of how much money you have, where it needs to go, and how much, if any, is left over.)

Step 7: Borrow smart (At some point you may need to borrow money (take out a loan). It is imperative that you borrow smart if you want to maintain your financial stability.

Step 8: Manage your credit cards wisely

Step 9: Review and understand your credit report

Step 10: Protect yourself from identity theft

Step 11: Understand your tax liability

Step 12: Know when to ask for help(The final step on the path to financial success is to know when to request for assistance.)

Money,some may say it’s precious and it’s one of the key to achieve our dreams in life, well its right but remember money is also dangerous and it may also lead us to nowhere, as what Natasha Munson said “Money, like emotions, is something you must control to keep your life on the right track.”

Contributed by Myla Ann Jomadio

Maridel Cadion About Maridel Cadion
Maridel Villar Cadion is a businesswoman by experience and is currently majoring in Business Entpreneurship.

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