How To Heal Your Financial Brokenness in 7 Ways

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How To Heal Your Financial Brokenness in 7 Ways
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Table of Contents
Introduction……………………………………………………………………….4
Chapter 1 Accept the Reasons of Your Financial Downfall 11

The Value of Acceptance……… 11
Are You a Victim of “Get Rich Scheme”?................................ 12
Are You a Believer of Good Debts?........................................ 14
Are You an Ant or a Grasshopper?......................................... 15
Did You Fail to Listen?.............................................................17
Are You Suffering from „Stuffitis‟?............................................ 18
Are You a Struggling Breadwinner?.........................................19
Action Plans………………………………………………………. 21
Chapter 2 Raise the White Flag…………………………………………… 22

The White Flag and its Meaning………………………………...22
As a Symbol of Surrender………………………………………..22
As a Symbol of Courage………………………………………….23
Action Plans………………………………………………………..27
Chapter 3 Exercise Humility & Seek Help……………………………….. 28

Acts of Humility…………………………………………………….28
Seek Help…………………………………………………………..29
Pray Like Never Before…………………………………………...30
Action Plans………………………………………………………..33
Chapter 4 Start Rebuilding from Ground Zero…………………………..34

Rebuild Your Self-respect……………………………………….. 36
Action Plans………………………………………………………. 37
Chapter 5 Review Your Own Theology of Money……………………… 38

Your Discipline with Money………………………………………40
Your Values with Money………………………………………… 44
Your Character with Money…………………………………….. 45
Action Plans………………………………………………………. 46
Chapter 6 Become a Faithful Financial Steward……………………….. 47

Know Where Your Money Goes…………………………………48
Pay-off Existing Debts One at a Time as Fast as You Can… 49
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Help Others When You Can……………………………………. 51

Learn How to Protect Your Stewardship……………………….51
When You Die Too Soon………………………………………...52
When You Live Too Long………………………………………..53
Action Plans……………………………………………………….54
Chapter 7 Rewrite Your Financial Plan………………………………….. 55

Start to Live at 70% of Your Income…………………………… 55
Strive Hard to be Debt-free……………………………………… 56
Commit Yourself in Cost-cutting Measures…………………….57
Find Ways to Improve Your Income……………………………. 58
Build a Solid Financial Foundation…………………………….. 59
Action Plans………………………………………………………..62
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Financial Freedom or Financial Peace?
It was November 20, 2009, when I first joined an online wealth course in the Philippines
while working as an Overseas Contract Worker in Doha, Qatar.
How did I find this?
Because I was searching for financial freedom.
My first five years of working abroad was a disaster, a tragic one. I left my home country
in November 2008 with high hopes of finding the ―promised land‖ abroad, only to find
out that I would be in the ―eye‖ of financial storms one after another.
 My salary was delayed, and I would get it at the ATM (not the machine, but
After Three Months)
 I managed to live by making “cash advances”
 I used my helpline a lot to “Call-A-Friend”
I was literally chasing financial freedom.
Whenever there‘s an opportunity to earn, I will just hop on it. No time for second
thoughts or second guesses. I knocked on every ―door‖ and opened every ―window‖ of
opportunity.
My family back home was always at my mercy. My brother would always call, ―Did you
send the money already? We have no budget for food tomorrow!‖ I was often
speechless. Whenever my salary was delayed, I thought of suggesting if they can
postpone their meal just for a day.
As a breadwinner, I MUST act. I MUST find a way.
Some of my prayers were answered. I found a part-time job which paid 2 hours every
day after I got off from my regular job. A friend of mine led me to a networking business
opportunity which granted an opportunity to earn $50 for each direct referral and $25 for
each indirect referral. I was so excited! At last, I thought I found a vehicle which could
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lead me towards financial freedom. I took a $350 loan from a friend so I can sign up
immediately.
Sadly, in less than a year the momentum subsided. No more sign-ups, no income. Our
network broke apart and it cost me to lose some friends too.
My hunt for financial freedom continues...
The online wealth course went well. I was encouraged to read many books like ―The
Richest Man in Babylon‖, ―Secrets of the Millionaires Mind‖ by T. Harv Eker, ―Rich Dad,
Poor Dad‖ by Robert Kiyosaki and many more. I gained a new mindset. And I was
unstoppable!
The “Blue Ocean Strategy”
During the last part of the online wealth course, I was told to raise US$8,000 using the
―Blue Ocean Strategy‖. It was a strategy to test how wealthy is your network and how
fast you can raise the money in a week. I made a list of my network and was asked to
find ways of raising $8000: Find 8 persons whom I can ask for a loan of $1000 each. Or
find 16 persons, for $500 each. Or 40 persons, for $200 each.
And I did, only to find out that the $8000 will be used as my joining fee to franchise a
networking company based in the US. I received products worth $8000 some of which
I used personally. Some, I gave away while others got expired. Making a demonstration
and promoting beauty products was not my passion. Now, I have an additional $8000
loan to pay. I committed a ―rich people mindset‖ mistake again.
More financial storms were heading my way...
The first storm
On August 7, 2011, the first company in Doha that I was employed at was forced to
close business. My unpaid salaries and other benefits of about $6,500 went down the
drain. I was only given a ―release‖ allowing me to freely find another company sponsor
to work for.
I can‘t go back to my home country as a loser. No way. I stayed and I got a full-time
job with the company where I started a part-time job.
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The second storm
On July 19, 2012, my mother died. I went home with borrowed money in hand. It has
been more than three years since I last saw my mother. I cried the whole flight. That
was the longest flight I ever had in my life. I didn‘t want to see my beloved mom lifeless.
But life must go on. I had to be strong.
The third storm
On October 7, 2012, the owner of my second company left Qatar and his company
buried in debt. My unpaid salary and benefits totaling $4,300 again went down the drain.
And I have a bigger problem. I don‘t know where I can find the Qatari partner so I can
ask for a ―release‖ to find a new sponsor. I need a job, so badly.
Is it the end of the world?
I remember a character in the Bible, Joseph-the Dreamer in Genesis 37-50. Joseph was
thrown to a well by his own brothers then sold as a slave. He was thrown to prison
because of the crime he didn‘t commit. Because of God‘s blessings, he was released
from the prison by interpreting the Pharaoh‘s dream. He was appointed by the Pharaoh
as overseer of food collection and storage in all Egypt. He was reunited with his family
and forgave his brothers.
I always read this story when I feel depressed and dull.
This story reminds me of one thing. God uses our ―misfortunes‖ for a reason. Just
prepare yourself to be surprised by what lies ahead. It‘s not the end of the world yet. My
journey to ―promised land‖ has just started.
A new job, a new beginning…
In January 2013, I transferred sponsorship to my third company where I never

experienced a delay in salary. With the help of the management, I was able also to
sponsor my wife and brought her to Qatar through a family visit visa in June 2015. My
wife became pregnant and we were blessed with twin boys in July 2017. A year later, I
was able to bring them back here in Qatar for a six-month visit. My prayers were
answered.
My joy was overflowing to have my family here, though my pocket is bleeding. As I

implemented cost-cutting measures, I have decided to send them back to the
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Philippines on June 2, 2019. I can have them with me, but then we will have no savings.
So, I chose the better part.
The crypto madness…
On April 2017, a friend of mine introduced me to cryptocurrency. As usual, I hopped in

hoping that this would be the right vehicle towards financial freedom. I still remember
the time when Bitcoin reached $19,000 mark per Bitcoin in December 2017. When I
started, the Bitcoin price was just $1000 per Bitcoin. It was 1800% increase! I was
jumping with joy.
I thought the opportunity would last forever. I started counting the chicken before they
hatched. I started a business using the concept of ―good debts‖.
Then suddenly, the trading platform we‘re into change its policy. We were scammed!
They allowed us to profit for a while and then boom, everything was gone! Our network
collapsed and some friendships too. My mistake again.
I need resolution…a guide
The struggles and pain I‘ve been through for the past ten years in searching for financial
freedom are embedded in every chapter of this book. The stories behind each chapter
are no longer presented as an ongoing journey... but a healing process.
Your story and your journey in searching for financial freedom might be the same with
mine, or different to some degree.
But I know for sure that we might share the same realization that there is something
more important than having financial freedom. And that‘s financial peace.
What then is financial peace?
At the end of the day, all of us, you and me, will lay down on our own beds. And the
question in our mind would be the same. Am I at peace? Money can buy a bed but not
sound sleep.
I’m a husband and a father...A sole breadwinner
I don‘t consider myself as a financial guru nor a financial coach. I‘m just a student. I‘m
just a speck of dust compared to well-known financial gurus of all times like Suze
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Orman, Dave Ramsey or Robert Kiyosaki just to name a few. I do follow these
honorable men and women. I buy their books and follow them on social media.
I had my ―enough is enough‖. The pains that I‘ve been through and those I‘m still going
through made me realize that I must do something to ―mark‖ those significant events of
my financial life that made me who I am today so I can warn others who might choose
the same track I went through. My financial exodus is still in process.
The internet and bookstores are flooded with books about financial freedom, but none of
them offer a book--on how to heal financial brokenness.
So, this eBook was born.
Then our twin blessings came...
I am the sole breadwinner in my family. And that‘s the reason why I married late at 42.
My wife and I were truly blessed when God gave us twin adorable fraternal twin boys in
July 2017. We expected a normal delivery but something sad happened. They were
born 2 weeks premature under the caesarian procedure. We had a $7000 hospital bill
and another loan to pay. Hey, I‘m not complaining. I‘m just telling my new story as a
father.
Every time I‘m confronted with financial difficulties because of past mistakes or being
unprepared, I panic a lot! I just hug my twins, stare at them and am constantly reminded
that I have so many reasons to live. And giving up is not an option.
Where can I find my long-lost financial peace?
I started writing this book, my first, since December 2018 when I was just doodling
around of the lessons I learned (and still learning). Pain is really a great motivating
factor to change for the better. I‘m always saying to myself, ―I don‘t want to feel this pain
anymore.‖ ―I want to be free from this financial burden.‖
As I started chasing financial peace, I have decided to do the following:
1. I need to cut cost. Now, I'm just taking the bus to and from work. My travel time
was prolonged from 30 minutes to 2 hours. No worries, I don‘t sleep on the bus. I
use my travel time to hone my skill in writing.
2. I need to negotiate with my creditors. My debts and financial responsibilities
are both overwhelming and agonizing. But I must balance and make both ends
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meet. Some of my creditors allowed me to pay my loan slowly but regularly. As of

the time being, I‘ve paid some of it. But other creditors threaten to sue me. As
saying goes, you can‘t get the honey by kicking the beehive. I have to be
persuading and empathic at the same time.
3. I need to find ways to increase my cash flow. Regularly, I search the internet
for any part-time jobs. Last June 2018, I found a coach who introduced me on
how to discover my talent, my niche. So, I found eBook writing as a sideline.
(Know more about sidelines on page 58)
Is it possible to live by 70% of your income?
In 2009, after paying the loan I used for placement fee (so I can work abroad) I started
gradually to live by 70% of my income (Read more on Chapter 7). I started at 90%
because that‘s doable for me. Then 80%, then 70%. Believe me, I even tried to live with
a food allowance of $28 per month. I tried eating Kubos (Arabic bread) with canned
sardines in different home cook versions I invented myself. With this strategy, I was able
to pay 50% of my outstanding debt before I worked abroad.
How about Stock Investment?
Then my friend introduced me to Stock Investment. With the little savings I had, I was
able to open an account in June 2012. I had a mentor who gave advice on what stocks
to buy, when to buy and when to sell. And slowly I built up my portfolio. After a year, I
was able to get 50% growth. I sold all of my stocks and used the proceeds as equity for
the house and lot. (Because my girlfriend/wife-to-be then told me that we will only get
married, if and only if, our house was ready.) So, I obliged.
House and lot, check. Wedding is next.
I bought stocks again and slowly built my portfolio. Then after a year or so, I sold my
portfolio for our wedding. We got married on January 25, 2014.
Healthcare
In November 2014, I got a healthcare plan for me and my wife as well (read Chapter 6
why healthcare is important). It‘s healthcare, insurance, and investment in one. Just in
case if I live too long, at least I‘m ready. I have already paid 18 months of my 7-year
Installment plan. It‘s a long way to go, I know. I already made several reinstatements of
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my policy because I have to adjust my budget (can‘t pay financial obligations at the
same time).
Next financial goal is life insurance once the budget is okay.
A bitter pill to swallow...
This book isn‘t a magic pill. In fact, it would be a bitter pill to swallow. The seven ways to
heal your financial brokenness discussed in the following chapters of this book, require
a personal and collaborative decision. You, your spouse and your family can make
things happen and can make magic. Financial brokenness can‘t be healed overnight. It
might take months, years or even a decade. But no worries, time flies so fast. Have faith
in the process. And eventually, you can really enjoy your financial peace.
The right time to start is today…
Three years from now, I‘ll be celebrating my golden birthday. But I don‘t want to wait to
reach that age to implement a significant decision with my financial life. It‘s now or
never. All of us are given the same opportunity to start a new chapter of our life every
day. You don‘t wait for another astronomic event to move your ass and take massive
action. The time is now!
I‘d always compare the story of the tortoise and the hare, with financial freedom and
financial peace. The hare can represent financial freedom while the tortoise represents
financial peace. Both of them have the same goal in mind—to win the race! With great
pride and confidence, the hare ran as fast as he could. He was way ahead of the
tortoise. While the tortoise patiently inched his way to the finish line, slowly, steadily but
surely.
You know who won the race. In life‘s reality, it‘s not ALL about speed. Arrogance
always has a price. Be the tortoise.
Now, I‘m excited to share with you my personal experiences. By the way, at the end of
each chapter, I prepared action plans for you to work on.
Cheers to your financial healing!
NILO GOLOSINO SIMOGAN

April 30, 2019
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Accept the Reasons of Your Financial Downfall
“Failure is simply the opportunity to begin again, this time more intelligently.”
-Henry Ford
To experience failure of any kind is not fun at all and not something to be proud of. And
the sad news is, our society tends to celebrate the successes rather than the colorful
journeys towards success that are filled with trials, tribulations, upsets, setbacks, and
failures. And financial failure is one of those failures no one wants to talk about.
History shows that the most successful people in life have failed the most times. For
example, Michael Jordan missed more than 9000 shots in his basketball career and lost
almost 300 games. Colonel Sanders failed 1009 times in marketing his famous
Kentucky Fried Chicken recipe. And the list goes on. If you try to go through life without
failing at anything, then you‘re not really living a life at all. Taking risks and falling down
flat on our faces is part of life; it makes us into who we are.
The Value of Acceptance
According to the research of Dr. Carol Dweck, “Those with fixed-mindsets (people who
see a particular trait as fixed-something you‟re born with or without) tend to avoid failure
because, for them, failure is a sign that they don‟t know something, or are not good at
something. Failure tells them that they are a failure. On the other hand, people with
growth-mindset (who see traits as malleable-something you can grow and improve) are
able to see failure as a tool. Failure provides an opportunity to identify a gap in their
knowledge or skill and, they can use that information to learn or practice to fill the gap.
For growth-mindset individuals, failure represents the opportunity to get better.”
Based on her study, she enumerated the numerous benefits in learning how to accept
failure, such as:
● Improved ability to bounce back from failure or setbacks

● Recognition of failure as a necessary step toward success
● Increased engagement in learning – especially when there's a new challenge
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● A greater sense of self-belief when tackling new challenges

● Increased levels of persistence (will stick with problems longer)
● Higher levels of achievement and success
● More likely to have a love of learning
Only those people who accept that they are really sick go out and seek the doctor‘s
help. Others prefer to wonder and nurture their pain while thinking that they might die
soon. Instead of accepting, they keep on denying.
Where Did I Go Wrong?
Start first with yourself. Stop blaming the economy, your company, your spouse or your
neighbor. Whatever circumstances you are in right now, it boils down in your decision in
the past in which you thought was right but turned out to be a blunder at the later part.
No matter how much you ought to move forward in your life- it pays to review the past
and reassess where you had failed. It‘s about time to re-examine your financial health
and have you evaluate the causes and not just the symptoms.
Let‘s take a look at the following probable causes of your financial downfall:
CAUSE#1 Are you a victim of a “get-rich-quick scheme”?
“Financial freedom is not a sprint, it’s a marathon” -Phil Town
Statistics on victims of get-rich-quick scheme
According to the US Federal Trade Commission, ―Millennial are more prone to lose
money in financial scams than their elders, according to newly released government
data‖. Based on that report, it shows that 40 percent of Americans in their 20s who
reported fraud in 2017 also said they lost money. By contrast, only 18 percent of victims
aged 70 or older reported losing money. The dollar value associated with the fraud
complaints were much higher for those aged 70 and older, however. Those in their 20s
reported a median loss of $400. That‘s compared to $621 for those in their 70s and
$1,092 for those 80 and up.‖
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1. Mining and trading cryptocurrency
In the UK alone there were reported 203 instances of cryptocurrency fraud totaling a
little over £2 million ($2.54 million) in losses between June 1 to July 31, 2018, according
to Action Fraud – the UK‘s national fraud and cybercrime reporting center.
Cryptocurrency is a volatile type of investment. It can bring you a profit up to the ceiling
or losses that can bring you down to your shame and debt grave. You can basically lose
all your money if you don‘t know what you‘re doing. Many fall into this trap thinking this
is a ―get-rich-quick scheme―. It took years for early investors in Bitcoin to gain huge
rewards, increasing from a few pennies to where it is now.
There‘s a lot of hype with cryptocurrencies these days. Why? Because most people do
not know what they‘re investing in and would rather listen to the crowd and the ―noise‖
they make. Taking a loan or using all your life savings in this kind of investment can be
highly risky, especially if you do not have the prerequisite knowledge on the technology
and the coins. You need lots of information. You should know the right people. Arm
yourself with knowledge before taking a plunge. This would significantly reduce your risk
and most importantly, position you to invest in the long-term fundamentals of the
technology.
2. Ponzi schemes
According to Wikipedia, a Ponzi scheme is a form of fraud that lures investors and pays
profits to earlier investors with funds from more recent investors. The scheme leads
victims to believe that profits are coming from product sales or other means, and they
remain unaware that other investors are the source of funds. A Ponzi scheme can
maintain the illusion of a sustainable business as long as new investors contribute new
funds, and as long as most of the investors do not demand full repayment and still
believe in the non-existent assets they are purported to own. The scheme is named
after Charles Ponzi who became notorious for using the technique in the 1920s.
According to the United States Securities and Exchange Commission (SEC), many
Ponzi schemes share similar characteristics that should be "red flags" for investors. The
warnings signs include:
1. High investment returns with little or no risk.
2. Overly consistent returns
3. Unregistered investments
4. Unlicensed sellers
5. Secretive or complex strategies
6. Issues with paperwork
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7. Difficulty receiving payments
3. Pyramid schemes
Pyramid schemes usually start through a referral from friends, family or neighbors and
encourage you to recruit members at seminars, home meetings, over the phone, by
email, post or social media. Their marketing plan is very convincing and enticing. And
since you are in search of vehicles to ride on faster to financial freedom, you will be
encouraged to join and pay in. The scheme relies on you convincing other people to join
up and to part with their money as well. In order for everyone in the scheme to make a
profit there needs to be an endless supply of new members. In reality, the number of
people willing to join the scheme, and therefore the amount of money coming into the
scheme, will dry up very quickly.
Some promoters of pyramid schemes disguise their true purpose by introducing

products that are overpriced, of poor quality, difficult to sell or of little value. Making
money out of recruitment is still their main aim.
The promoters at the top of the pyramid make their money by having people join the
scheme. They pocket the fees and other payments made by those who join under them.
When the scheme collapses, relationships, friendships, and even marriages can be
damaged over money lost in the scam.
These include any scheme where you buy something, are encouraged to get 2 people
―under you‖ to do the same and you have to encourage them to each bring in 2 more
people under them. It sounds like a regular networking business but when you look at it
deeper, you will see that earnings are based only in the membership, not on the resale
of the products or services, if there‘s any.
CAUSE#2 Are you a believer of “Good Debts”?
“You can’t be in debt and win.” - Dave Ramsey
―A simple explanation is that there are different types of debt. Good debt can help you
build long-term wealth and achieve your future goals. Bad debt can drain your bank
account and ruin your credit‖, said Grant Sabatier-author of Financial Freedom.
In layman‘s term, good debt is a debt you owe from whatever resources which you
invest in any kind of business which in return gives you a passive income. The income
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you get from it should be bigger than the interest you are paying your creditor to qualify
it as good debt.
On the other hand, bad debt is a debt you owe which you use to buy stuff that are not
considered an investment. Example, you bought a new cell phone just to keep yourself
updated with the latest trend. Buying stuff using borrowed money and which doesn‘t
give you a single cent return is considered as bad debt.
Whether good or bad debts, debt is still a big no-no.
The mantra of good debts, at times, gives us the confidence to start a business in mind.
Using borrowed money in doing business is not bad, if and only if, the business you are
into becomes a hit. The financial problem arises when the opposite happens—the
business goes down the drain and the capital investment you borrowed has to be
returned to your creditor at all cost. This scenario is the common financial manhole
some of us fall into.
Borrowed capital is often referred to as leverage because you borrow against future
earnings of your business. When you use borrowed capital in starting your business, at
a certain point it will be difficult to keep up with ongoing business expenses because of
debt repayments. Debt financing can have a downward effect, as a start-up business
has to take new loans to keep up with existing obligations.
Always remember and never forget that all debts, whether bad debts or good debts,
need to be paid with interest. J. Reuben said, ―Once in debt, interest is your companion
every minute of the day and night, you cannot shun it or slip away from it; you cannot
dismiss it; it yields neither to entreaties, demands or orders; and whenever you get in its
way or cross its course or fail to meet its demands, it crushes you.‖
CAUSE#3 Are you an Ant or a Grasshopper?
Ant vs. Grasshopper
Do you still remember your kid‘s nursery rhymes about ants and grasshopper? Here are
some excerpts:
“In the summer the ants were a-working

Bringing food to their hill every day
While the grasshopper sang in the sunshine
On his fiddle, his song he did play.
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“Fi-de-di, de-dah-doo, dah-de da-do

Fi-de-do, de-da-dee, de-da-day
I will sing all the while „neath the sunshine!
„Neath the moon, I will dance, I will play!”
In the autumn the ants were still working

But the grasshopper still did not care
The ants asked “Why don‟t you store food for winter?”
Time went by, and along came the winter
And the wind gave a cold icy chill
Snow fell down, and there was no more sunshine
So the grasshopper went up the hill.
In the valley, he went to the anthill

He was cold, and embarrassed, and sad
But the ants told him that he was welcome
Then he thanked them and felt really glad!
“Fi-de-di, de-dah-doo, dah-de da-do

Fi-de-do, de-da-dee, de-da-day!”
And the grasshopper said in future seasons
Work comes first, then he‟ll have time to play!”
Source: ABCKIDSTV – Cocomelon
I saw how the ants dutifully store food in summer. They tirelessly lift up every ounce of
food they can carry all day long. Having a day-off is not in their vocabulary.
One day while sitting under a tree, I saw the lines of black ants carrying loads of food up
to the tree. Then I started blocking their way. But they didn‘t stop. Instead, they made a
new route. Every time I literally snatch their food, they will just go back and bring new
food. That‘s how they are committed!
I wasn‘t able to observe how the grasshoppers store their food. But never had I seen in
my entire life group of grasshoppers working as a team as the ants do.
Jim Rohn said, ―We should think all summer in winter and we should think all winter in
summer‖. In real life, on one hand, summer equates to time to enjoy, explore and relax.
This means we have the time to spend the money that we have saved in the last
summers of our life. On the other hand, winter means, the time where an emergency
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happens: loss of job, sickness, car accidents or death in the family. Even if you have
regular jobs, don‘t forget that job security no longer exists. You have a job today but
tomorrow your company can say to you that it would be your last day at work. Who
knows?
CAUSE#4 Did you fail to listen?
"When you talk, you are only repeating what you already know. But if you listen, you
may learn something new." -Dalai Lama
How does listening affect your finances?
The time has come for us to realize that we don‘t have all the knowledge of the financial
world because our financial lives are more complicated than we think. Anyone who
makes a significant financial decision without taking into consideration a second opinion
from other people is a sure candidate for failure. If you fail to listen from a bit of sound
advice, you already know what‘s going to happen. Listening isn‘t just about paying
attention to words anymore. Listening in our modern world really means knowing which
advice to trust, and which ―trash‖ to filter out.
Start At Home
When it comes to financial matters, husband and wife should be partners. No one
should be left behind especially when it comes to a financial decision no matter how
small it would be. Small financial failures will become financial leaks. Don‘t forget that
even a small leak would sink a great ship. As a couple, every task should be well
communicated. For example, recordkeeping of expenses like checkbook should be
handled by the person who is good at it. If the husband prepares the budget, the wife
should review it, then whatever changes in the budget should be discussed and
amended accordingly. Men should forget the ―macho‖ image that he should be the one
to lead, and only his decision matters. The wife has a very important role to play too.
Some husbands forget that God gave women a sixth sense called women‟s intuition.
Most women have the ability to come to the right decision even if they are clueless
about the data. They just ―feel‖ it.
Parents Advice
It‘s been a while since we became free from our parents‘ protective cage and since then
we go on our own, explore the unknown world or raise a family and seldom seek their
advice. When was the last time you visited your parents and ask for their advice? Some
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of us might forget that you have this opportunity to seek their advice, especially in
financial matters. Even if we have a generation gap with our parents, their timeless
wisdom is something worth to consider. This would be a perfect time as well to bond
with them so they will know that we still need them in our lives. Proverbs 12:15 says,
―The way of a fool is right in his own eyes, but he hears counsel is wise.‖
Experts‘ Advice
Seek for financial mentor or coach. Remember that even known personalities in sports
like Manny Pacquiao in boxing or Tiger Woods in golf still have their coaches even if
they are already world champions. How about you? We can seek knowledge from
financial experts through personal discussion, or by reading their books or blogs or by
following them in social media to keep updated.
It‘s Your Final Decision After All
After seeking, considering and weighing financial advice from different sources, it‘s time
to make your final decision. To come to a right decision (should you invest in business A
or not, to buy this property or not) is not an easy task. No matter what you decide, take
responsibility. At least, you already explore the pros and cons of the decision you are
about to make because you really listen.
CAUSE#5. Are you suffering from “Stuffitis”?
Stuffitis is not related to sinusitis or another way around. Stuffitis, according to author
Dave Ramsey, is an impulse buying of stuff you don‘t actually need. Take a look at your
cabinet. How many pairs of shoes do you have? Did you buy the latest Abs machine or
home edition gym set? The next question is, when was the last time you used it. How
many ―stuff‖ in your house ended up in the storage cabinet?
That unnecessary stuff, no matter how much the value is, would be considered as a
potential source of investment if used wisely. I‘m guilty of Stuffitis. Out of impulsiveness,
I also bought stuff I used once and ended up in the storage cabinet.
According to Matt Bowman, president of Thrive Internet Marketing, these are the five
emotions that make us dig for our wallet and so far, the most effective in motivating us
to spend our hard-earned money:
1. Belonging
When you see an advertisement and you feel belongingness to that brand, you buy that
product and develop patronage.
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2. Trust
When a particular product or brand shows sincerity and keeps its promises, as a
consumer, you develop trust to that brand.
3. Values
When you see that your core beliefs are in line with the core values of a certain product
or brand then you are persuaded to buy.
4. Happiness
When something makes us feel happy, we want that feeling to continue. If a product
inspires happiness in a consumer, then the brand is doing something right.
5. Fear
Fear is a very powerful negative emotion and there are nuances of fear that can make
purchases incredibly tempting. One of these is called FOMO, or ―fear of missing out.‖
It‘s also about dreading being left out because you lack the knowledge or experience
that others have had but without you. This explains why most of us want to be updated
with the latest technology and gadgets.
CAUSE#6 Are you a struggling breadwinner?
A breadwinner is the sole financial provider in the family or household. Being a

breadwinner is not given as a birthright or a choice. Sometimes it is a choice brought by
an unstable job market or changes in family structure. It does not depend on the
employment status of an individual but on the roles he/she plays in the family when it
comes to financial contribution in the household. A breadwinner is simply put as the one
who has a duty to work and earn for the family, and leaving his work is not an option.
Why? Because he or she is the only provider.
There may be a two-income household but only one breadwinner. The breadwinner is
the one with the more profitable and economically sound job, while the other who can
afford to leave the workforce is simply ―earning,‖ but not necessarily a breadwinner. The
same is true in families where there are multiple earning members like grown-up
children working part-time but their earnings are not enough to take care of all family
financial obligations.
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A 2012 research by the Prudential Financial group found that over half of American
women or 53 percent are the primary or sole breadwinners in their households. The
research further shows that these women are either single or divorced and support
themselves entirely, while 22 percent of married women earn more than their husbands.
Are you a sole breadwinner?
The sole breadwinner is no longer a new phenomenon. It has been a traditional setup in
pre-industrialization time. What is new are the dramatic changes in gender expectation
and traditional family roles where work and being a financial provider are concerned.
More and more women are now sole breadwinners, while there are also children
(meaning children that are of working age) that have also taken up the financial
responsibility for the family.
What are the negative effects of being sole breadwinners?
Financial distress. Since the greater responsibility to provide financially for the family
falls solely on the breadwinner‘s shoulder, the negative effect of the responsibility has a
domino effect in other areas of breadwinner‘s life. A breadwinner will do whatever it
takes just to provide for the family, even it means acquiring more debts or to delve into
other earning opportunities even without enough knowledge about it.
Marital problems. Most studies made on gender and income show that the majority of
both men and women still consider men to be the breadwinners and the expectation of
them to be good providers still remain. Because of this, the negative effects on marriage
start to manifest when the role of breadwinner is being assumed by the wife and the
husband assumes the role of the wife in taking care of household chores and rearing
the children.
Health problems. Breadwinners who work long hours, especially if the person has
multiple jobs, experience a negative effect on their health.
Emotional problems. ‖What if I lose my job?‖, ―What if something bad happens to me?‖
These are just some of the thoughts that may linger in the breadwinner‘s mind when
financial insecurity comes. This negative thought, if not controlled, can strain both
mental and emotional health.
Job-related stress. This negative effect is usually manifested in the workplace where a
lack of focus and concentration results in an accident.
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Self-limiting behaviors. Due to lack of or limited financial resources, a breadwinner,

most often than not, makes sacrifices and set-asides his/her dream for the sake of
another member of the family.
Whatever caused your financial downfall, there‘s no point in nurturing the pain and
prolonging the agony. You have to move forward. At some point, life gives us a wake-up
call, with the purpose of lighting a fire under our ass so that we will take a massive
action to change for better. The harsh reality is that the only thing holding any of us
back from moving forward in life is ourselves. Are you ready to change ways and trash
the old habits that are not serving your highest self?
Action Plans:
1. Identify the reasons why you failed financially. Remember that path to
failure and never take that road again.
2. List down the lessons you have learned and remember it by heart.
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Raise the White Flag
“Surrender is deeply misunderstood as an act of weakness. Surrender is the

bravest and most lucid thing a human ever does, and that’s why it's so precious
to the Divine.” -Andrew Harvey
The White Flag and its Meaning
As a symbol of surrender
Do you know that surrender is the core of the entire spiritual paths? The act of
surrender is very often misunderstood and equated as an act of ―letting go‖ and most of
the time mislabeled as a self-help command.
At some point of our lives, we encounter a difficult situation that shakes the core
foundation of our being—something that obliges us to burrow our head deep in the
ground and pretend that nothing serious is happening even we are already bruised and
beaten; and our limits are being tested like a gold in the furnace. And at the midst of it
all, you wanted to disappear at an instant. It can be a toxic relationship or a sudden
misfortune, or a bad decision that brought you into financial destruction. Whatever
reason it may be, the power of these experiences has brought you to your knees both
literally and figuratively. If the act of surrender brought positive changes in your life then
you aligned yourself in the real essence of surrender, otherwise, it is not surrender at
all.
Surrender starts when everything that you ―know‖ didn‘t work the way it was supposed
to be and when every road you take leads you to a dead end. When you are exhausted
all the effort you exert becomes worthless; when you acknowledge that there is a higher
authority above all, that there is God who is now in control, not you, then surrender
really begins.
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Your path to surrender might be an agonizing and painful process but when the moment
of surrender happens, a greater sense of relief and inner peace will overshadow all the
pain that there is in your heart. And you will feel better and start to see a new you.
As a symbol of courage
Not all of us are willing to bring down his own ego especially if the issue is about
financial integrity. As a man, it is very humiliating to expose yourself to your friends,
colleagues and even to your family—that you are financially broken, more so, if you are
bankrupt.
You are in the midst of financial war when you are jobless, your credit card is maxed
out, the bank or your creditors are calling because you have past due on your
obligations and you are already being penalized. Worse is your relationship with your
spouse and kids is hanging by a thread because the bills are piling up and some needs
are already delayed. The tuition fees for your children are due again and a promissory
note is no longer available because you‘ve been using that helpline for many
semesters.
Is it the right time to give up? No.

Is it the end of your career? No
Is it the end of your family life? No.
Is it the end of the world? No.
Waiving your white flag doesn‘t mean that you are already defeated. Showing yourself
in a surrendered state gives you more advantage than if you keep on fighting. In the
actual war, surrendering means survival. Yes, you don‘t know what lies ahead upon
surrendering, but this gives you a good news- you‘re still alive!
“Failing does not mean that you are a failure, it‟s mean you have not yet succeeded.”
-Robert H. Schuller
Let‘s take a look at those people who failed big time in their financial life:
Nick Woodman
This guy is the inventor of one of the fastest growing company in the US - the Go Pro, a
wildly successful wearable camera. If you are a sports fanatic then you know this brand.
But before his success; he lost big time in start-up companies he had established.
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First, he started EmpowerAll.com, an e-commerce site which sold very cheap

electronics. It didn‘t make any profit, it was quickly shut down.
Then in 1999, he started an online marketing company called Funbag which gave users
the chance to win cash prizes in return for participating in sweepstakes. It was
marketing games. He even raised $3.9 million in funds from different investors. At first,
the company was on the rise, but by 2001, Nick failed again and lost $4 million dollars.
"I mean nobody likes to fail, but the worst thing was I lost my investors‘ money and
these were people that believed in this young guy that was passionate about this idea…
you start to question: are my ideas really good?" - Nick Woodman
His net worth now is $1,750,000,000.
Bill Gates
This guy doesn‘t need any further introduction, does he? I think you know him more
than your mother-in-law.
Did he fail too? The answer is a resounding yes.
His first ever company was Traf-O-Data, whose objective was ‗to read the raw data from
roadway traffic counters and create reports for traffic engineers‗. In this way, the
company would optimize traffic. The first product was the Traf-O-Data 8008, a device
which could read traffic tapes and process the data. They first tried to sell the
processing service to the local County, but their first demo failed because the machine
‗didn‘t work‘, recalled Gates.
―Even though Traf-O-Data wasn‘t a roaring success, it was seminal in preparing us to

make Microsoft‘s first product a couple of years later‖ Paul Allen recalled. He was the
partner of Bill Gates.
They didn‘t quit until Microsoft became the largest personal-computer software
company in the world. It is very comforting to know that even the richest philanthropist in
the world can make business blunders.
His net worth: $72,700,000,000
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James Dyson
If you own a vacuum cleaner then you should know who invented it. He is the man!
Dyson Company is known worldwide in selling bagless vacuum cleaners in over 50
countries.
Most of us would think that inventors are born inventors, with some God-given talent or
gift and their genetics must have evolved many times over that makes them different
than us mere mortals. But in fact, the opposite is true. Inventors are created; they‘re
‗grinders‘.
James Dyson‘s company is now a worldwide success, selling bagless vacuum cleaners
in over 50 countries. It made him a billionaire. But he had to fail lots of times before he
could get to that winning invention.
Mr. Dyson created 5,127 vacuum prototypes, all of which could be considered ‗failed
attempts‘. He spent 15 years perfecting his product before taking the DCO1 to market in
1993. The vacuum works on his patented principle of cyclonic separation, that‘s why it
doesn‘t need a bag. This innovation required of him a lot of dedication financially,
physically and mentally. As an inventor, he couldn‘t easily give up on an idea. By the
time he made his 15th prototype, his third child was born. ―My wife was giving art
lessons for some extra cash. Those were tough times, but each failure brought me
closer to solving the problem‖, he narrated.
His Net Worth: $3,000,000,000
Steve Jobs
Steve Jobs is known as the Guru entrepreneur, the genius behind best-selling products
such as the iPod, the iPad, the iPhone, and the MacBook. He is the most influential
business figure of our time and he‘s going to be forever reminded as the Da Vinci of our
tech-world renaissance.
What we know less of Steve is his nothing-burger creations. Believe it or not, Apple was
producing exactly that at one time. Remember the Lisa fiasco? Maybe not. Steve
managed to waste millions of dollars in development to create such mass amnesia. It
would have been cheaper to simply hypnotize every customer out there.
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He had a track record for this sort of thing, considering that in the previous Apple dud
episode, he and partner Steve Wozniak invested their savings and time into the Apple I,
which sold a not-so-impressive 175 units. But it was the Lisa development fiasco which
got Steve Jobs kicked out of the company he founded.
Applying the principle ‗failure is just feedback‘, Jobs went on to create another
company: NeXT. That company also met its demise, due to hardware issues in the
product. Eventually, the software division was sold to Apple, and Steve returned to his
starting point.
But now, armed with so many failures, Jobs was more determined than ever to
succeed. His dream of creating ‗a company that will still stand for something a
generation or two from now‘ just like Walt Disney did, and Hewlett and Packard, and the
people who built Intel‗ was finally going to manifest.
Dave Ramsey
According to Wikipedia, Dave Ramsey was born and raised in Antioch, Tennessee. He
was a 1982 graduate of the College of Business Administration at University of
Tennessee, Knoxville with a degree in Finance and Real Estate.
Dave Ramsey attended the University of Tennessee and graduated in 1982. He is one
of the most notable alumni of the college. By the time he was 26, Ramsey had already
formed a $26,000,000 real estate portfolio. The bank that was financing his real estate
was sold to a larger bank who demanded immediate repayment on the loans. He was
unable to pay and eventually filed bankruptcy in September 1988. Afterward, he
immediately got back to working on what went wrong and how to fix it. After recovering
financially, Ramsey began counseling couples at his local church. He attended
workshops and seminars on consumer financial problems. He has written numerous
books including five New York Times bestsellers. His books and broadcasts advocate a
fiscally disciplined approach to personal and household finances, including the strict
management of debt, and often feature a Christian perspective.
Dave Ramsey started and found Ramsey Solutions in 1991, which helps solve financial
problems and debt. In 1992, Ramsey founded the Lampo Group to assist anyone
struggling with money management to take better control. In that same year, he wrote
his first book, Financial Peace. On October 15, 2007, Ramsey became a television host
for the first time and debuted in ―The Dave Ramsey Show on Fox Business Network‖,
which appeared nationally.
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In 2009, Ramsey was named the winner of the National Association of Broadcasters
Macaroni Award for having an audience of over 8.5 million a week. He has been
featured on many media outlets including The Oprah Winfrey Show, 60 Minutes, and
The Early Show. He recorded a pilot and six unaired episodes of The Dave Ramsey
Project for CBS. He was the host of the television program The Dave Ramsey Show,
which aired on the Fox Business Network until June 2010. In April of 2014, Dave
Ramsey released his bestselling book, "Smart Money Smart Kids" written with the
assistance of his daughter, Rachel Cruze.
At age 56, Ramsey has earned himself a net worth of approximately $56 million due to
smart saving and involvement with politics.
His net worth: $55,000,000.00 (Source: www.therichest.com)
There are many ordinary people out there who experienced financial difficulties but
managed to rebuild and find their way back to financial stability. Of course, no one will
easily admit ―I was the one‖. To those people who find the courage to admit their
experiences and share their lessons learned deserve applause and admiration.
If those people who survived the financial odds and managed to get back, so will you.
Action Plans:
1. List down all your assets and liabilities as of today (assets are what you
own, liabilities are what you owe).
2. Update it every 90 days to monitor your progress.
3. Find a person in your area who had financial difficulties but managed to get
up. Have a meeting with them and get their advice.
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Exercise Humility and Seek Help
“Do you wish to rise? Begin by descending. Do you plan a tower that will pierce
the clouds? Lay first the foundation of humility.” - Saint Augustine
While your white flag is up and wavering, take this opportune time to exercise humility
and use your remaining helplines to seek help.
"When you are on the way to court with your adversary, settle your differences quickly.
Otherwise, your accuser may hand you over to the judge, who will hand you over to an
officer, and you will be thrown into prison” - Matthew 5:25
This Bible verse reminds us that we shouldn‘t wait for our creditors to file a case before
we talk to them. It‘s a wise act to discuss with your creditors your financial condition.
Facing them will ensure that you don‘t have a plan of running away from your
obligations. It will give the impression that you will uphold your words and whatever
situation you are in is just temporary. It would be a sound decision if you will meet your
creditors personally than just by calling them over the phone. Do you still remember the
time when you are still applying for a loan? Now that you are bargaining terms with
them, be the same person and same attitude as you were applying for the loan the first
time.
Acts of humility
While praying to God that your creditors might have a big heart to understand your
situation and eventually give in to your proposed terms of payment, the following simple
acts of humility may help you to ease the emotional pain that you are going through:
● Have a confession- Go to your local parish and meet your priest for a good
confession. There must be hidden emotional setbacks that lured you to be
financially broken. It might be obsessions to worldly goods that pushed you to
spend more than you earn. It might be wrong relationships - extramarital affairs
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that lead to becoming extravagant in your lifestyle. Remember those ―excesses‖

that you had and confess it.
● Have a heart to heart talk- Call your best friend or someone whom you trust or
whom you look up to and unload your pain. A problem shared is a problem
halved. Still, remember the old sayings that no one is an island? That friend of
yours might be in the same situation as you in the past and might give you his
wisdom on how to find a way out.
● Ask for forgiveness- Most probably, there are numerous people who were
affected by your situation whether direct or indirect. First and foremost, your
family. Your spouse and your kids maybe suffering already financially, or about to
experience the financial storm that may come sooner or later. Giving them a
foresight of the events to come e.g. foreclosure of property due to the default of
loan payment would give them advance information and ample time to act
accordingly. If your family boat is about to sink, don‘t wait for the exact time
before you push the alarm and shout ―Mayday!‖ It might be too late for the family
members to get their respective ―life jackets‖. Lastly, ask forgiveness from your
relatives, friends, colleagues and business partners who are affected as well.
Seek Help
“Sometimes in life, you can fall down holes you can‟t climb out by yourself. That‟s what
friends and family are for- to help. They can‟t help, however, unless you let them know
you‟re down there.” -Meg Cabot
We think asking for help is a sign of weakness and that being self-reliant is the key to
success. But the opposite is true: Realizing we cannot do something and need help
shows both humility and strength. Relying on others can help us better reach our goals.
Use Your Lifelines
Have you watched the American TV show “Who Wants to Be a Millionaire”? On that
show, if you don‘t know the answer to a certain question, you have helplines available
called 50/50, phone a friend, or ask the audience.
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In reality, we can still use ―helplines‖ so we can move forward to the next challenges of
life. You should not get stuck if you accidentally fall in the different ―manholes‖ of life.
Not unless you want to stay there. There‘s always a way out! You just need to look for it.
Lifeline#1 Talk to your family
In this time of financial storms, your family will be always your first refuge. No one
understands you better than they do. If your financial obligation with your family pushed
you beyond your capacity, then it‘s time to let them know. Your silence will never help
you either. Only your openness will open the door for dialogue and understanding.
Lifeline#2 Call a friend
All you have to do now is review your phone book and list down all the persons to whom
you can call. First, those who have the financial capacity to help you. If ever you had the
opportunity in the past of helping other people, now is the time to ask favor from them.
I‘m sure they will not have a second thought of saying no to you. Not unless they are
also in need. Second, those who can give you advice on how to turn around your
financial life. Lastly, pray and ask for guidance so that God will lead you to the right
people.
Lifeline#3 Ask the “experts”
When I say experts, it doesn‘t mean only those people who have a master or doctoral
degree in finance and studied in reputable university around the world. I am referring to
those people who had the same experience as yours yet they managed to survive and
now they became a living testimony, whether they studied or not, professional or a
laborer.
Pray like never before
There is power in prayers. Never underestimate its power whatever situation you are in.
God is concerned for every aspect of your life even in your finances.
Jesus said, “Ask, and it will be given to you; seek, and you will find; knock, and it will be
opened to you. For everyone who asks receives, and he who seeks finds, and to him
who knocks it will be opened” (Matthew 7:7-8, NASB)
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Why you should pray more?
Prayer is our invisible line of communication to God. Prayer is one characteristic that is
shared among many world religions and philosophies. The only difference is the
beneficiary of the prayer. Even Jesus, through the Bible, shows how we should pray.
Prayer is emphasized because prayer is a very important practice. Not only can prayer
bring spiritual support, but prayer can also benefit a person mentally and physically.
The following reasons will emphasize why prayer is an important practice:
Prayer as a way of communication with God.
Many religious leaders spoke of prayer, but Jesus not only spoke of prayer, but He also
prayed regularly. The very example of Jesus‘ prayer life is written in the gospel of Luke,
―It was at this time that He went off to the mountain to pray, and He spent the whole
night in prayer to God‖ (Luke 6:12, NASB).
Our ways of communication to God may be through our words, in our minds, or it can
be written. We can be confident that He will hear us and that the Holy Spirit will help us
to pray what we ought to pray. In marriage counseling, one of the key areas that are
promoted is communication. Communication plays a vital role in Christian life, so do the
prayer as well. This is our intimate time with God. No wonder we feel as if we do not
feel the presence of God. It is not because God moved. It is because you did. Prayer
in its purest form is communication with God. Just as you speak to a parent or a friend,
you can communicate with God. God hears and will respond according to God‘s will.
Prayer as a way of giving thanks
Our prayer does not start with petitions or request. It should start with thanksgiving.
When Jesus fed the 5,000, first He gave thanks. Matthew as an eyewitness to the
event, recorded, “He took the seven loaves and the fish, and giving thanks, He broke
them and started giving them to the disciples, and the disciples gave them to the
people” (Matthew 15:36, NASB).
In our time, one is hard-pressed to find anyone truly thankful for anything. It seems that
individuals are more concentrated on what they do not have rather than what they do
have. There can be found neither rest nor contentment for such a person. However, if
we really concentrate on the blessings that what we have received, we all have our
reason to give thanks to God. Yes, life is not perfect but God has given us life. He has
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given us food to eat, water to drink, clothing for our backs, and a place to call home.
So, take a look around you. You have so many blessings to be thankful for. Use prayer
as a way to express your gratefulness to God. Just as a person likes to hear ―thank
you‖ for something that one has done, God also appreciates our thanksgiving for the
blessings that He has bestowed upon us.
Prayer as a way of intercession
Intercession means that we speak on behalf of another. We keep a prayer list in which
we pray for the needs of others. That is the same reason why we ask others as well to
pray or to intercede for us. As a community, it‘s very important that we intercede for one
another. It will strengthen our bond as a family and the power of prayer works more
wonders. The prayer of many is more powerful. How much more if we make ourselves
worthy before the eyes of God. A prayer of a repentant heart becomes louder and
pleasing to God. So don‘t be afraid of asking your community to pray for your financial
problems. Who knows God may use one of them as an instrument for your prayers to
be answered.
Prayer as a way to give praise
What is the difference between giving thanks and giving praise? Giving thanks is
thanking God for what He has done. Giving praise is thanking God for Who He is.
When one understands the greatness, the power, the glory, the love, the compassion,
and the grandeur of God, how could one not praise God? You don‘t praise God only in
times of abundance—you have a new job, you got a promotion, etc. You also praise
God during the storm. The Book of Psalm in the Bible shows how King David praised
God regardless of the season.
Prayer as a way to ask help
Prayer allows you to go to God in asking for help. The good news is you can do it
anywhere you are as long as you find solace. It can be in your room or in your office
cubicle. All you have to do is prepare your heart and purify the condition or motives of
your prayer. God may give an answer in a variety of ways. Sometimes, in the least
expected way. Like a father to his son, God will not say ―yes‖ to prayer if it will do harm
than good. God‘s answer can be ―yes‖ or ―no‖ or a deafening silence which means
―wait‖.
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In Hebrew 11:1, it says, ―Faith is the substance of things hoped for, the evidence of
things not seen.‖ Prayer is a manifestation of faith. Every time you pray, you surrender.
Fr. Bob McConaghy says that every time we pray, we do the following three ―T‘s‖: we
―talk it over‖, we ―turn it over‖ and we ―trust‖. When you talk it over, you say what‘s on
your mind and you tell the Lord your emotions. When you turn it over to the Lord, you
surrender everything to Him. Lastly, when you trust, you are just saying, ―let your will be
done, not mine.‖
Action Plans:
1. List down all your creditors and set an appointment with them. Now!
2. Explore the available helplines you can use. Then act accordingly.
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Start Rebuilding from Ground Zero
“There comes a moment when you realize that there are no more chapters left in
the book of your (current) life and it's time to start a new book.”
- Malebo Sephodi
Do you still remember the Twin Towers of World Trade Center in the US before the
September 11, 2001 bombing?
According to Wikipedia, Twin Towers, the main buildings of the World Trade Center,
were designed as framed tube structures, which provided tenants with open floor plans,
uninterrupted by columns or walls. It was designed by Minoru Yamasaki, one of the
most prominent Architects of the 20th Century. The North Tower (One World Trade
Center), the tallest building in the world at 1,368 feet (417m) by the time of its
completion, while the South Tower when completed in 1973, became the second tallest
building in the world at 1,362 feet (415 m). On a typical weekday, 50,000 people worked
in the towers with another 200,000 passing through as visitors. The complex was so
large that it had its own zip code: 10048.
The world‘s famous landmarks which took 6 years (1966-1972) to build were turned to
crumbles and ashes in just few hours.
After the bombing, along with thousands of people who perished, the Twin Towers were
gone and turned into ―ground-zero‖.
Figuratively, that ―Twin Tower‖ was you before the ―financial bomb‖ struck you at the
core. Before, you are having a good life —living the life of rich and famous so to speak.
Now, nothing visual remains had left except for the ―ground zero‖. After the 911,
Americans didn‘t stop from there. They didn‘t say, ―It‘s finished‖ or ―it‘s the end‖, but
instead they stood up though bruised, broken, and separated from loved ones and lost,
and tell the world—―we will rise up‖. The ―Ground Zero‖ is now a memorial that will
remind the American people of today and the next generation to come of that tragic
event and the lessons learned.
The financial wrath that happened to you is not the end of your life. The lessons you
have learned should be remembered at all cost. Your test will be your testimony to
others when everything is back to normal. You are about to close an old chapter of your
life and about to open a new one.
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Now that life has given you a clean slate to start all over again, have the attitude of
gratitude to count your blessings. While there is hope, there is life. But the other way is
true—while there is hope, there is LIFE. You might know some people who chose to
end their lives because they lost hope, not because the angel of death had fetched
them a bit earlier. If you choose to be grateful, not being disgraceful, then life will give
you what you are asking for. Henry Ford says, ―What you focus on expands‖. So focus
on your blessings: things that you have right now which you still enjoy no matter how
simple they are:
● Good health
● You eat three times a day
● Family
● A roof over your head
● Quality time with your spouse and kids
● True friends
● Neighbors who share what they have
● You are free (some people are living in jail)
● Wisdom
● Healing from sickness
● Having time to relax and rest
● Time to serve others or in a community
● Protection (others live in a warzone)
● Guidance from your parents or other relatives who look after you
● Talents
● And more...
“Until you learn to be grateful for the things you have, you will not receive the things you
want,” John Kralik
There‘s a man who decided to write a thank you note each day. He did it so he can find
reasons to be thankful and grateful for each day for 365 days. His life was a disaster
too; he was broke, overweight and had his second divorce. What he did taught him a
lesson of being positive in life. Most of the time, it is very easy to complain about many
things in your life until you have someone else‘s life to compare to. He is John Kralik,
the author of the book ―A Simple Act of Gratitude‖.
As humans, we are prone to complain a lot and the result is we get depressed most of
the time. You will be amazed that there are many things under your nose- the blessings
to be thankful for but you missed it because you focus on complaining. There are many
studies that prove how practicing gratitude can improve your well-being.
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Rebuild Your Self Respect
Many of us don‘t think about self-respect until we realize that we have lost it and thrown
it in the garbage bin.
After you have been beaten up by recent financial failures, it can really be very hard to
get up and find the courage to rebuild what was lost. Though it isn‘t next to impossible
to resurrect your self-respect, it does and it will require lots of strength and
determination.
The question is, how can you bring back to respect yourself, especially if you don‘t feel
any such regard? Here are some thoughts to ponder:
Believe that you can
As a human being, self-respect is a vital part of your total well-being. It‘s like the rudder
of a boat that stirs its direction. Without it, you feel lost, like a dry leaf that goes
wherever the wind blows. You have to be optimistic that you can rebuild your self-
respect.
Admit your mistakes and make reparations
Nobody is perfect. But every time you commit mistakes, whether by negligence or by
ignorance, no one is bound to correct these but you. Take charge of it and ask how you
can do better.
Don‟t be bothered by others‟ opinion of you
At times, it is better to become deaf and mute when it comes to other people‘s opinions.
Listen only to those who have genuine concern about you. Others are just spectators.
They pull you down but they will never lift their fingers to help you in times of need. Let
them speak negative things about you but let your determination to succeed become
your testimony.
Look at yourself and others in a new perspective
It is understandable that those people who were affected by your financial condition
may speak bad things about you. But not everyone. Your proactive approach in life will
create sparks of positivity so that good people around you may wish you well. Listen to
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inspirational stories and talks that can uplift your spirit and bring new inspirations. Use
your own story and from there, rewrite a brand new chapter of your life and make a 360
degree turn around.
Elevate yourself to higher standards
According to Anthony Robbins, our own set of standards in life dictates who we are
whether physically, emotionally, intellectually and financially. If your standard is to go to
the gym four times a week then it‘s no wonder why you have six packs abs. If your
standard is to live only on 70% of your income and make savings as your first expense
every time you receive your salary, then it‘s no wonder why you have lots of savings
now. You made a wrong decision financially not because you didn‘t have choices but
maybe because there was no standard to look up to every time you make decisions. It‘s
about time to set up higher standards than before and adhere to it.
Remember that rebuilding self-respect is a process
The Bible says that there‘s always a time for everything - a time to sow and a time to
reap. How it takes time to lose one's self-respect, it also takes time to rebuild it. You
made a wrong turn in your financial journey which made you lose your self-respect and
it will take time to find the right track, the right strategy, and the right decision. No one
sows a seed today and shall reap the fruits the following week. The seed becomes a
plant and will take time to grow and as it grows the weeds grow alongside it and if you
neglect to pull out the weeds on time, the plant will be choked up by the weeds and
eventually the plant dies. If that happens, then you have to go back again to step one:
planting. So in rebuilding your self-respect, there will be times that you become dull and
unmotivated but don‘t get discouraged, just get up and remember your compelling
financial goals and take actions.
Action Plans:
1. List down at least ten positive affirmations of yourself e.g. “I’m a blessed”,
“I’m a conqueror” etc.
2. Every morning, face the mirror and say those positive affirmations with
conviction.
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Review Your Own Theology of Money
"For the love of money is a root of all kinds of evils. It is through this craving that
some have wandered away from the faith and pierced themselves with many
pangs."
- 1 Timothy 6:10
Many of us believe that finance is an exact science as taught in our schools and
universities. Money works like a magnifying glass. It magnifies the ―true‖ you—your
discipline, your values, and your character. Many relationships have been tarnished,
broken, scandalized because of the issue of money. There are touching stories as well
that show how money has made the world a better place. You can easily determine
what‘s inside a person‘s heart whether he is a philanthropist or a miser once you know
how he handles his finances.
Concept of money
When money is being discussed, what is the first thought that comes into your mind? Is
it good or is it evil? Or both? Before you answer those questions, you have to
understand first the properties of money.
Money is active
Do you still remember the stories of your parents about the cost of their daily school
allowance, fare, etc. during their times? They love to tell their stories of the distant past
just to compare the inflation rate of their times and the current age. Inflation is just one
of the properties of why money is active. Its value doesn‘t stay the same. You can‘t bury
your $1000 dollars underground with the hopes that after five years you can still buy the
same stuff that your money can afford today. There are stories of people who saved
their money, both paper money and coins, in a secret location in their house then after
sometime forgot about the money. It was too late for them that when they remembered
that they have saved, the money is no longer a legal tender because the government
had declared a new form of currency.
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The evolution of money over time, from gold coins to fiat currency of today, has made
our money very active. In 2009, Bitcoin, a cryptocurrency, was born and has been
introduced into the market by Satoshi Nakamoto. Since then, more cryptocurrencies
were born and made into circulation. According to www.tokenmantra.com, the following
are the Top 5 cryptocurrencies in 2019 in terms of market capitalization:
1. Bitcoin (BTC)
2. Ripple (XRP)
3. Etherium (ETH)
4. Bitcoin Cash (BCHABC)
5. EOS (EOS)
With the introduction of Western Union and other companies who are into money
transfer services, you can send money anywhere in the world as fast as the blink of an
eye.
Money, as active as it is, has made our lives, faster, modern and complicated. There
are tons of stories around us that testify on how money was able to control one‘s life
and relationship.
Money is neutral
Let us use a knife as an example. If I let you hold a knife, does it make you a bad
person? Are you going to use the knife to prepare your meal, i.e. to slice vegetables or
fish or meat? Or will you use the knife to slice the throat of your neighbor who used to
bad mouth your financial situation? Got my point? The purpose of the knife depends on
the intention of the one holding it—you.
And that same principle applies to money. Will you use the money that you have to feed
the hungry, to send poor children to school, to shelter homeless children and
abandoned elderly people or to bribe the corrupt government officials to snatch the
project that you want from the rightful bidder?
Bo Sanchez said that: ―People don't see financial blessings, they don't want to accept
financial blessings, and they don't know what to do with these financial blessings
because of two major reasons: Wrong Theology of Money and Wrong Strategy of
Money‖.
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You should ask yourself: "If I will get rich today, what would I do with my treasure?‖
Search your heart and answer it will all honesty and soon you will discover your own
theology of money.
Of course, your answer will depend not on the vastness of your treasure or on your
capacity to give, but on the size of your heart.
Your Discipline with money
Collins Dictionary defines discipline as ―the practice of making people obey rules or
standards of behavior, and punishing them when they do not.‖
The Bible says in Proverbs 19:18 about discipline: ―Train up a child in the way he should
go, and when he is old he will not depart from it. Foolishness is bound up in the heart of
a child; the rod of correction will drive it far from him.”
Why You Need Discipline To Your Financial Peace
The word discipline is not an easy word. It‘s also the most difficult word to implement.
Because, above all, it needs commitment. Saying NO when you have to, even the world
encourages you to have it ―now‖. When you look around, there is a ―Sale‖ everywhere.
The ―zero interest, easy monthly payments‖ marketing strategy makes you salivate to
swipe your credit card at an instant. And when the due dates come, depression comes
along with stress because you are enslaved again by debt. The cycle never ends and
your lifestyle of living from paycheck to paycheck becomes your legacy. The good
news, there is a way to escape that kind of life, and one of your keys is discipline.
We, as human beings can always learn new things and ―unlearn‖ old habits. Every day
God gives you a new day, to begin with. Don‘t wait for a new year to make a resolution.
Your willingness to change and learn financial discipline can break the ―curse‖ brought
by your being undisciplined in the past and change you for a better future—enjoying
financial freedom with greater peace.
Here are the top 7 Financial Disciplines you can implement:
Discipline#1-Make a Written Financial Plan
A written financial plan is more effective than having just a plan in your thoughts. Why?
Brian Tracy‘s book Master Your Time, Master Your Life mentioned the importance of
writing down your goal. It says that every time you write down something in a paper, you
trigger what is called psycho neuromotor activity. Amazing isn‘t it? It simply means that
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your mind and body are completely synchronized and whatever you have written is
automatically transferred to your subconscious mind. This activates your creative ability
and stimulates your brain increasing your chances of achieving your goal as well. That
written plan is simply called as your budget. Combine your written budget with the
envelope system as discussed in the 3rd discipline.
Having a written budget before you receive your salary will give you ample time for
planning and budgeting. Remember that money is active and based on experience, it
overwhelms you when it‘s in your hand. Don‘t let temptations ruin your budget or else
you will have regrets.
Discipline#2-Pay Yourself First
In times of financial distress, saving money would be considered a hard habit to start
with. Every time you receive your salary, most often than not, you pay your bills first and
then try to consider saving what is left. That‘s the reason why after years of working
hard you have zero or very little savings. That‘s normal, but if your goal is to get out of
the rat race then it‘s about time to break the habit.
Paying yourself first simply means that you should determine what percentage of your
salary that must be put into your savings. Ideally, it must be 10% of your income. You
can ask your local bank about an auto-debit arrangement wherein a certain amount is
automatically deducted from your bank account and goes to a different account as your
savings. This strategy creates the discipline of putting money into your savings account
every time you get paid. No need for you to think of it because it will automatically
happen at a certain date you already set.
Discipline#3- Implement the Envelope System
In Chapter 7 of this book, I discussed a new lifestyle—―live in 70% of your income‖.

Based on that strategy, you‘ll need four envelopes: 1) Savings envelope-10%, 2)
Investment envelope-10%, 3) Give envelope-10% and 4) Living envelope-70%. Every
time you receive your salary, sit down and distribute it into four envelopes accordingly
based on your written budget. The envelope reminds you that you should spend only
what‘s inside, no more no less. Remember, you should be the one in control with your
money and not the other way around—money controls you.
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Discipline#4 - Practice Cautious Spending
Today‘s modern society has already mastered the art of convincing so we spend more
money because of the marketing advertisement we see on the road, we see in
television, we hear over the radio, on the internet, and even by text messages.
Practicing cautious spending will allow you to think twice or many times before you
spend your money. You should know the difference between wants and needs. Please
take note that most of the advertisements you always hear or see are already
embedded in your subconscious mind. For any apparent reason, you don‘t know why
you are already hooked in buying a certain brand. By asking the right questions, you will
be able to separate your emotions before you buy.
Do I really need this stuff?

Is this what I came to the store to buy?
Can I live without it?
Am I buying this out of emotion, just to feel accepted by others?
The more cautious you are when you take money out of that envelope to spend, the
more you will realize that there are a lot of things you don‘t actually need and your life
will be the same without them. Before you release every money from your hand, just
pay attention and ask these questions.
Discipline#5- Say No to Credit Card
The use of Credit card is okay. Like money, the credit card is neutral. Its purpose
depends on the one holding it. The convenience of using credit cards had left many
individuals falling into a debt trap.
Credit cards can be convenient but the resulting debt could lead to financial stress of
two kinds: In emotional terms, credit card debt can create friction between you and your
spouse, and in dollar terms, credit card debt can strain your financial ability. While credit
card debt in and of itself is not necessarily a financial stressor, the negative effects of
credit card debt are widespread and tend to grow as time goes on.
Maybe we forget that banks are profit-oriented organizations and they sell debt. Aside
from home loans, car loans, student loans and many more, banks have various lines of
products as well called MasterCard, Visa, Diners, American Express and so on. Just
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check your wallet on what kind of credit card do you have. Whatever you may call it, it is
a bank product called debt.
As I said, a credit card is neutral like money but having one makes you highly
susceptible to the temptation of falling into debt effortlessly. Mike Murdock said: “Debt is
proof of greed. It is the opposite of giving. Debt is emptying your future to fill up your
present. Giving is emptying your present to fill up your future.”
During this time of your financial storm, saying NO to a credit card will give you the
added opportunity to get out of the storm sooner than later. It takes time but definitely,
you can set yourself free. Swearing off credit cards and other forms of consumer debts
will stop you from digging your debt hole wider and deeper. Cutting off your credit card
is a sure way to cut off the temptation. By doing this, it will redirect you to find better
ways to finance your life.
Discipline#6- Have a Little Fun
As you learn new discipline with money, you will feel like keeping your nose to the
grindstone. You may feel yourself like being in a military camp in which your every move
is being timed and monitored and lots of rules to follow. It shouldn‘t be the case at all
times. A ―carrot and stick‖ explains the beauty of giving rewards to yourself every time
you accomplish a certain milestone. Any breakthroughs made using these seven
disciplines with money, you deserve a reward no matter how simple it is. You can watch
a movie. You can go to a restaurant and try different cuisine of your choice. Any
rewards to remind you nice things come with hard work will do. By doing this, you‘ll be
inspired most likely to accomplish more goals.
Discipline#7- Get Financial Education
There is a saying, ―Plant what you want to harvest. If you want to harvest mangoes,
plant mango trees. If you want to harvest tomatoes, plant tomatoes. However, if you
want to harvest money, then learn to plant money.‖
Financial matters or financial issues are not often discussed especially at home. You
don‘t have to know everything about money. Learning the basics would be enough and
sticking to them is like winning already 75% of the financial battle. Getting the right
financial education is the only way you will be educated about your personal finances
and be able to understand how to ―grow‖ money steadily and surely.
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Financial coaching is now readily available. Just search in your local area which group
offers financial literacy. Attend their free seminars or workshops. Just be cautious in
choosing which group you‘ll associate with. Others may have an authentic mission at
hand to educate people financially while others have a hidden agenda.
Imagine yourself as a computer. If you type ―stock investment‖ and click search, how
many results will be there? If you can‘t explain what stock investment is all about, it
means there‘s no stored information in your Central Processing Unit (CPU) called your
brain. By reading books, blogs about finances, watching a TV show that promotes
financial literacy or by following financial mentors and coaches, your stored financial
information will definitely increase.
Your values with money
“Riches get their value from the mind of the possessor; they are blessings to those who
know how to use them, and curses to those who do not.” -Terence
Do your money and your values align?
When you take a look at how you manage your money, does it reflect who you are? If a
third party will look at it, would they be able to know what‘s important to you? These
questions should be addressed.
Why is there such a difference between what people say about their money values and
how they live? It‘s very easy to express what your values are but the next question is,
do you walk your talk?
Let's put it this way. Let‘s say that one of your values is to give a lot of money to worthy
causes- to your church, your university, a chosen foundation, or one of much charitable
institution. Let‘s take a look now with your tax return. If it only shows that you only give
2% of your income to these causes, what can you say then about the ―true‖ values you
ought to profess?
Or let's say that one of your most important values is providing for your kids' education
and your oldest child will be entering high school next year. You haven‘t started any
savings plan for their college education. Does that reflect what you say you value? No
doubt that many parents believe that their kids should have the ―edge‖ for their
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education and providing enough money for this purpose would create a sense of
fulfillment.
Our values define who we are. These values should drive the decisions we make in life.
They are born out of what we think about and should be evident in how we spend our
time, and how we use our money. Maybe you heard this before that if you want to know
what's important to someone, look at their checkbook ledger or credit card statements.
Does it show more line items spent on clothing, the latest accessories and gadgets or
does it show business related expenses? Let‘s look at it deeper. If we say we know the
importance of living within our means, our credit card statements should reflect that.
However, if we have multiple credit cards with high balances and you only make
minimum payments, then your values certainly don't match with the reality. If retiring
early is of high importance to you but you will retire soon five years away from now, with
little or no retirement savings, your values don't match at all.
Your character with money
“The ultimate measure of a man is not where he stands in moments of comfort and
convenience, but where he stands at times of challenge and controversy” -Martin Luther
King
You may know someone personally who got rich overnight because of winning the
lottery or receiving a huge inheritance, but because of lack or absence of financial
discipline, wasted the vast fortune in just a few days or months. And after some time,
they went back to their old self, worse than before. You might know someone who just
arrived from working overseas wearing a gigantic gold necklace, gold watch and
bracelet, and because of gambling habit, the pieces of jewelry were pawned to pawn
shops.
You might know of ―rags to riches‖ stories of people around you who chose to magnify
their character by sharing their wealth to those who are less and underprivileged in life.
One great example is Andrew Carnegie, a very well-known steel magnate and widely
recognized for being philanthropist and humanitarian who spent half of his life
accumulating wealth and the last half of his life giving it away.
Your discipline, values, and character with money are just the results of ―programming‖
that you have inherited from your parents. As we all know, behaviors are hereditary.
T. Harv Eker, in his book Secrets of the Millionaires Mind, mentioned about the
modeling (verbal and visual) that we learned from our parents. Maybe when it comes to
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money matters nothing has been discussed by our parents but I‘m sure that you have
heard from them conflicting messages about money as follows:
“Money doesn‟t grow on trees”

“Rich people are bad so getting rich is bad”
“Investment is only for the rich people”
“We can‟t afford to buy those toys because we are poor”
“Whatever you do, you will not get rich”
Your character is simply defined as ―who you are when no one is watching‖. And your
character is measured by your conduct and not by your profession.
For example, if you are a self-confessed ‗shopaholic‘ then it doesn‘t matter how much
money you have. You will always find a way to spend it. If you are a compulsive
gambler then you will just keep raising your bids higher and higher in relation to that
amount of money that you have. So in a way, it doesn‘t really matter how much money
you make because if you do not have personal discipline and limitations, then you‘re
always going to live way above your means.
Money will never ever solve your personal issues; personal growth will. Money will
never repair a poor character; self-responsibility and accountability will. Money will not
buy you good manners, loyal friends, a loving family, romantic love, patience,
confidence, security, peace of mind, or wisdom; it is your decision to master your life
and shed light on your dark spaces that will do it. Money will not solve your insecurities,
anger, impatience, lack of self-confidence or bad attitude; self-parenting solves these
challenges.
Action Plans:
1. List down your specific discipline, your character and your values on
money.
2. Identify which areas you need to change.
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Become a Faithful Financial Steward
“We are not cisterns made for hoarding, we are channels made for sharing.”
- Billy Graham
First and foremost, believe that all that you have comes from God, from your clothes
and accessories to your gadgets, cars, land, and houses. Everything that you could
possibly name, God has blessed it and provided to you. All the blessings that you enjoy,
whether big or small, carries God‘s personal touch. God has brought you to where you
are today. Your life‘s journey is supplied with God‘s provisions and supervision. Maybe
you have not noticed it because He uses other people as a channel.
A faithful steward accounts for everything that he has, and being thankful as he is, he
gives back to others as a way of gratitude. God doesn‘t need our tithing. God tells us to
feed his flocks as a manifestation of our love to Him. In the Bible, particularly in the
Gospel of John 21:15-17, Jesus asked Peter about his love three times:
“When they had finished eating, Jesus said to Simon Peter, "Simon son of John, do you
love me more than these?" "Yes, Lord," he said, "you know that I love you." Jesus said,
"Feed my lambs. Again Jesus said, "Simon son of John, do you love me?" He
answered, "Yes, Lord, you know that I love you." Jesus said, "Take care of my sheep.
The third time he said to him, "Simon son of John, do you love me?" Peter was hurt
because Jesus asked him the third time, "Do you love me?" He said, "Lord, you know all
things; you know that I love you." Jesus said, "Feed my sheep.”
The people around you, created in God‘s image and likeness, whether they are
deserving of your love or not, should be the direct benefactors of all the blessings that
have been given to you. They are the same people that Jesus was referring to Peter.
You don‘t hoard your blessings and keep it locked in your vault—you share it. We are
commanded to use all our capacities and resources to take care of our families, build
the kingdom of God and help our brothers and sisters in need — and we will be held
accountable for it.
“For where your treasure is, there your heart will be also”. - Matthew 6:21
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Remember that you are not a permanent resident of this world. You and I are just
transients. Aside from fulfilling our mission in this lifetime, some of the reasons we‘re
here on this earth are to experience joy. But we‘re still commanded to use wisely and
wholeheartedly what God has given to us.
Here are five ways you can do it.
1. Know where your money goes
If I ask you how much you spend monthly on food, utilities, bills payment, etc., can you
respond right away? If not, then, one thing is for sure—you don‘t have a monthly
budget. In short, you don‘t know where your money goes. At this time, you have to learn
and remember one word: budget.
According to Wikipedia, ―Budget is a financial plan for a defined period, often for one
year‖. If you know exactly your monthly budget then it will be easy for you to prepare
your yearly budget. At the beginning of each month, start recording all your expenses.
Every centavo or cents count. Have a small notebook to record all your expenses. If you
can‘t record it right away, just keep all the receipts or bills and record it in your notebook
when you are free. Then at the end of the month, classify your expenses accordingly:
food, taxi fare, gasoline, electricity and water bill, toiletries, loan payment, leisure,
medicine, etc. Your goal is to determine how much you spend on each category. Do this
for the next two or three months and you‘ll have the basis in the preparation of your
yearly budget. Just note for each month the important events or occasions like birthdays
or anniversaries or travel, so you can prepare and add it up to your monthly budget.
Armed with your monthly budget, the next thing to do is to identify in which category you
overspend and what strategy you can implement to reduce cost.
Here is the good news. You have lots of Budget Apps to choose from to help you in
tracking your budget and expenses:
According to Eric Rosenberg, the following are the 8 Best Budgeting Apps of 2019:
1. Mint
2. PocketGuard
3. YNAB
4. Wally
5. Mvelopes
6. GoodBudget
7. Simple
8. Personal Capital
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Make use of the technology. Check the above-mentioned Budget Apps and download
what is best for you and use it.
2. Pay off existing debts one at a time, as fast as you can
Having a monthly mortgage or monthly interest to pay is really an agonizing pain

especially if you are in deep financial trouble. The more you stay in debt, the more your
pocket bleeds. The faster you get out of debt, the better. But how?
Sell whatever you can
Whatever properties you have accumulated over the years can be an answer to your
financial woes. Take an inventory of your properties which you can sell immediately to
pay off your debts, more specifically, those loans bearing high interest. It can be a real
estate property, car, jewelry, unused appliances, clothes, etc. Once you have financial
peace, you can always get back what you have lost and achieve better than before.
Debt Snowball
This is a debt reduction strategy where you pay off your debts in the order of smallest to
biggest, gaining momentum every time a certain debt is paid off. Once the smallest debt
is paid in full amount, you just roll the money you were paying on that debt into the next
smallest balance. It's like building a snowman. As you gain momentum, the snowball
grows into a snow boulder.
Dave Ramsey, the author of Financial Peace, outlines the following steps in Debt
Snowball strategy:
Step 1: List your debts from smallest to largest.

Step 2: Make minimum payments on all your debts except the smallest.
Step 3: Pay as much as possible on your smallest debt.
Step 4: Repeat until each debt is paid in full.
Illustrative example:
You have the following loans arranged from lowest to highest:
Type of loan Monthly payment (Interest + Principal)

A. Personal loan#1 $200
B. Personal loan#2 $300
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C. Personal loan#3 $350

D. Car loan#1 $400
Total monthly……… $1250
Since you are paying a total of $1250 every month, just add $50 in your monthly
payment for loan#1 so your total budget for the loan payment will be $1300 instead of
$1250. In doing so, loan#1 will be paid sooner than expected. Once loan#1 is paid, you
can go back to the $1250 monthly budget in paying the loan but now you will focus on
paying loan#2. Use the same amount you use to pay for loan#1 in paying loan#2. It
means you will pay loan#2 with $500 ($200 budget for loan#1 that was paid already &
$300 regular payment for loan#2) until it‘s fully paid. Then do the same strategy for the
rest of the loan until they are all paid.
Debt Avalanche
This strategy is the opposite of debt snowball. The avalanche method is where you
prioritize paying off your debt balances with the highest interest rate. You begin by
paying the loan with highest-interest-debt balance first. Once you eliminate that
balance, you take the funds you‘ve been using for those payments and place them in
your next-highest-interest balance, all while making the minimum payments on the rest
of your debt.
Loan Restructuring
There are two debt management tools you can use: loan consolidation or loan
restructuring. Though these tools belong to the same loan family loan restructuring is
recommended for those people having financial difficulties.
Please take note that this strategy is only a temporary solution. Your main goal should
be to extinguish all your debts.
Debt Restructuring is the process in which a debtor and creditor agree on an amount
that the borrower can pay back. The goal of loan restructuring is to restructure your debt
so that you can have better terms that will make a bit easier for you to completely
extinguish your debts.
According to Investopedia, debt consolidation simply means taking out a new loan to
pay off a number of liabilities and consumer debts, generally unsecured ones. In effect,
multiple debts are combined into a single, larger piece of debt, usually with more
favorable payoff terms: a lower interest rate, lower monthly payment or both. This
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strategy might give you savings when it comes to the monthly interest you pay and at
the same time, you will have at least one creditor to deal with instead of many. On one
hand loan consolidation requires a brand-new contract and a new loan application.
Someone who files for debt consolidation doesn't necessarily have to be in financial
hardship. While on the other hand, loan restructuring builds off an existing contract and
more negotiation is involved and a person who files for debt restructuring is usually in
financial hardship. Loan consolidation increases your credit score while loan structuring
can hurt your credit score.
3. Help others when you can
Facing insurmountable financial problems could cripple you emotionally and physically.
And that pain, more often than not, would cripple you in helping others because you
focus more on yourself. You would think, ―Why should I help, I need help too.‖ Yes, it
might be true but do you know that ―in giving, you receive‖? We not only talk about
giving financial help to other people. Remember that you have 3 T's in life: talent, time
and treasure. Let‘s remove treasure in your case but still, you have your talent and
your time that you can utilize in helping others.
There is a positive vibe in the exchange of energy that takes place between people who
give help and receive help from each other. That positive energy definitely brings
soothing and healing vibrations to the part of you that might be suffering, whether
conscious or subconscious.
According to Universal Law, there is never a giving of energy that will not be received in
another way or vice versa. The same goes for creation: once something is created, it
cannot truly be destroyed but changes shape or energetic resonance. If you feel love in
a relationship, and this relationship ends, love doesn‘t die but merely changes
expression toward another space or face or situation. Others call it as good Karma.
Whenever we share, by words or by good deeds, we will eventually be a source of

healing within ourselves as we receive the return of good karma. When you let loose of
yourself and become aware of the people around you who might in need of your
valuable help, you get a new perspective in life which can inspire you as you rewrite
your financial life.
4. Learn how to protect your stewardship
A good and faithful steward not only knows the proper accounting of what he has and
how to share it to those in need; he also knows how to protect it. Like a shepherd who
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tends his flock every day by leading them to green pastures and source of water, he
also knows how to defend its flock from the attack of predators like lions or wolves.
It is not enough that you manage well your finances because as we all know,
unexpected events may occur. For instance, hospitalization of family members, natural
calamities, accidents, or worst, death. You have to be ready for two things: when you
die too soon or when you live too long.
Have you asked yourself these two important questions?
If I die too soon, who will take care of my family?

If I live too long, who will take care of me?
Most of the employed individuals are covered by healthcare provided by their

companies. Take note that the coverage of healthcare is only during the time when one
is employed. Once you quit your job, your healthcare coverage stops as well. The scary
thing is most of our health issues and problems happen after we retire.
When you die too soon
Death is the only thing that is certain in our life as a human being. It is certain to happen
but you just don‘t know when. So, you have to be ready.
“Of the 56.9 million deaths worldwide in 2016, more than half (54%) were due to the top
10 causes. Ischemic heart disease and stroke are the world‟s biggest killers, accounting
for a combined 15.2 million deaths in 2016. These diseases have remained the leading
causes of death globally in the last 15 years.” - World Health Organization
Life insurance doesn‘t protect you and your family from death, but it does protect your
ability to earn as head of the family or as a breadwinner. It‘s not about what will happen
to you when you die but what will happen to your loved ones who will be left behind
when you die. It is a wise move of a faithful steward to ensure that he and his family are
protected by life insurance.
Term insurance vs. Whole Life Insurance
Term Insurance is the most basic type of insurance. This type of insurance covers you
or your family for a specific period of time, let‘s say, for one year or as long as you pay
the premium. As a benefit, your family or the beneficiary gets a lump-sum amount in the
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case of the plan holder‘s death. This type of insurance is recommended if you have a
limited budget. Little protection is better than no protection at all.
Whole Life Insurance, on the other hand, provides lifetime coverage. This type of
insurance requires you to pay your premium for a longer term, let‘s say for seven years.
And you have to be committed to paying your premiums otherwise you will not be
covered if something happens to you once your insurance policy lapses. In case of
default, you will be given a certain period of time to reinstate your policy and you will be
covered again. Get this type of insurance once your finances get back to normal.
Check out the available insurance companies in your area and inquire about these
types of insurances. It should be your utmost priority that you and your family are
protected. Don‘t wait for the accident to happen before you realize the importance of
insurance in your financial life. And when your finances get better, it‘s time to cover your
property as well.
When you live too long
Most of us are being drawn to getting life insurance to protect us in case of death and
yet we miss the chance that before dying, we might spend a longer time living.
“Based on global averages, a girl who was born in 2012 can expect to live to around 73
years while for a boy, to the age of 68. This is six years longer than the average global
life expectancy for a child born in 1990.” - World Health Statistics 2014
There are people who live longer than normal life expectancy. Some may consider it as
a blessing while others, as a burden especially with the cost of health maintenance for
older people, more costly. Whether by genetics or by grace, a wise and faithful steward
has to be financially prepared for this. There are valid reasons why you have to. First,
once your employment life ends, your health insurance is no longer covered by your
company. Second, since you are no longer receiving a monthly salary, where else can
get money if you get hospitalized but from your savings? Do you want to become a
burden to your family?
In third world countries, there are lots of people who die not because of the lack or
absence of medicine and treatment, but because they don‘t have the resources to pay
for hospitalization costs.
According to a study made by the World Health Organization (WHO), most health
expenses are shouldered by private households- as much as 48% of total health
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expenditures. These households often have to use out-of-pocket payments to pay for
their health expenses. It is considered as financial suicide not to have health and
disability insurance, especially if you are a breadwinner or have a family.
Short-Term Healthcare
This is also known as the traditional HMO. Generally speaking, short-term healthcare
has no life insurance coverage. There might be an increase every year in your premium
and your renewal is not guaranteed especially when there are high claims. More claims
mean less profit for the insurance company. In HMO, you will no longer be covered
when you reach the age of 60 years and furthermore, there is no return of premiums for
non-utilization.
Senior Care
This is an individual type of HMO that covers those people beyond 60 years old, and the
most expensive program and renewal is also not guaranteed.
Long Term Healthcare

This type of healthcare has the four cornerstones of good healthcare: short-term
healthcare, long-term healthcare, life insurance, and saving & investment. It has fixed a
premium, e.g., 7 years and matures in 20 years. Renewal is guaranteed and for non-
utilization, all unused health fund accumulates interest. You are covered beyond age
60 with long term growth. The following are the sample benefits of long-term healthcare:
● Long-Term care benefits
● Yearly health benefits
● Long-Term care bonus
● Lifetime network access to accredited doctors and hospitals
● Term Life Insurance coverage
● Waiver of installment due to death/Credit Life
● Accidental death and dismemberment
● Waiver of installment & premiums due to total and permanent disability
Action Plans:
1. Search for any reputable insurance company in your place.

2. Ask a quotation based on your insurance requirement and financial
capability.
3. Get at least the cheapest policy. Little protection is better than no
protection.
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Rewrite Your Financial Plan
“If you don't take care of your money your money won't take care of you.”
- Mac Duke the Strategist
Financial planning will help you determine both your short and long-term financial goals
and in doing so, you will create a balanced plan to accomplish these goals. The
following financial plan might not be the traditional one, but once you embrace its
principle, for sure this will work miracles in helping you find your financial peace.
Start to live at 70% of your income, NOW!
Believe me, this strategy works 100% both in short time and long term plan and it will
only work with 100% commitment and belt-tightening at the same time. It is teamwork.
You need cooperation as well as the understanding of your family members. It‘s a
lifestyle overhaul.
Why 70% of your income?
Parkinson‘s Law explains that ―No matter how much money people earn, they tend to
spend the entire amount and a little bit more. Their expenses rise in lockstep with their
earnings.‖
In case you have a salary increase over a period of time, did your monthly savings
increase or ONLY your expenses increase?
It is not about how much salary you get, but how much you save from your salary. No
matter how big your salary is if you don‘t develop the habit of savings, then the same
old story unfolds after five years or so: you have zero savings and you are about to
retire soon.
Let‘s do some math.
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Let‘s say your monthly salary is $2000. Get 70% of it which is equal to $1400. Can you
and your family live by $1400 monthly budget? You have to. If you know already where
your money goes as discussed in Chapter 6, then it will be easy for you to prepare your
budget based only at the 70% guide.
Where does the remaining 30% go?
You can divide the remaining 30% into the following account:
1. Savings (10%) - $200. Use this account in building your emergency fund. Your
emergency fund should be an equivalent of your six months expenses which you
can access in case of emergency, e.g., loss of a job.
2. Investment (10%)-$200. Use this fund in building up funds for your retirement or
your child‘s education. You can invest it in buying blue chip stocks, mutual funds
or other investment vehicles where your money grows without your effort.
3. Give Account (10%)-$200. Use this fund for your tithing for your local church or
for other charitable purposes. Get from this account, whenever your extended
family, friends, colleagues, or others need your financial assistance.
Just do this allocation every time you receive your salary and be surprised what will
happen.
Don‘t push hard on yourself if the 70% guide is not practical at the moment. You can
start and adjust accordingly based on what is doable. You can start at 90%, then 80%
and so on. But don‘t forget your main goal of living only on 70% of your income.
Imagine, in five years‘ time, how much would be your savings. That‘s already $12,000
($200 x 12 months x 5 years)! Your retirement fund is $12,000 and your Give Account is
also $12,000. Can you imagine the improvement of your financial life in just five years‘
time? What if you continue in living the 70% guide the rest of your life? I know you‘re
smiling.
Strive hard to be debt-free
Why does becoming debt-free very crucial in your financial peace? Simply because,
when you have a debt, you become a slave. You read it right. The Bible mentions the
danger of having debt in Proverbs 22:7, ―The rich rule over the poor and the borrower is
a slave to the lender.” I don‘t need to expound what is meant to be a slave. If you take a
loan from an individual, a bank or any lending institution, then you agree to become a
slave of that individual or bank. When you apply for a loan, you will sign an agreement
that requires you to pay an agreed amount at a given time or else your creditor can take
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away your collateral possessions—your car or your land or your house. That‘s why you
are obliged to follow, like a slave to his master.
If you have one credit card in your possession then you have to say no to an additional
credit card. With your current financial situation, having an additional credit card means
an additional burden. One is enough but you have to use it only when needed not when
wanted. If you have more than one credit card, this is the right time to get a scissor and
cut this credit card. Use cash instead.
Commit yourself in cost-cutting measures
In finding 101 ways to cut cost, ask yourself and your family this question: What
sacrifices we are willing to do right now to have financial peace later?
Gather your family and identify together different areas where you can save money and
limit the unnecessary cash outflow. Consider the following expenses which you have in
control of:
● Electricity and water bill- You can limit the use of air conditioning at home or
other appliances to lower your monthly bill. Make sure to unplug all unused
appliances
● Food- Prepare, cook and pack your own food instead of eating outside.
● Home entertainment- You can reduce or cancel your cable, or Netflix
subscription, etc.
● Magazines and newspapers- You can consider canceling your monthly
subscription. Anyway, you can still update yourself with the news and current
events online.
● Telephone/Cellphone Bill- Opt-in to a lower plan or you can consider prepaid
instead of post-paid plan. Maximize the use of social media like Facebook,
WhatsApp, etc. in communicating.
● Club membership- Cut off your club membership until your finances get better.
● Transportation- Use available public transportation like buses instead of taxis.
Adjust your timing accordingly to avail of their services when necessary. You can
also maximize carpooling to save on wear and tear of your car. You can also use
a bicycle as your mode of transportation in going to work if it is doable.
● Laundry- Do it yourself instead of paying for the service of the laundry shop.
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Find ways to improve your income
● Explore the art of sidelines. There are tons of sidelines out there. You just have
to learn how to get out of your comfort zone.
-Find an extra job after your regular work. You can explore what you love. You
can be an Accountant who loves photography. Who knows Getty Images may
contact you.
-Do you love freelance writing, copywriting, etc.? You can check
www.locationrebel.com or www.upwork.com.
-Do you have a good voice? You can be the voice of the next best-selling
audiobook in town as a narrator. Visit www.acx.com.
-Do you have talent in voice acting? You can try www.voices.com and be the
next world‘s best voice actor.
-Are you an expert in your field? You can offer your services as a consultant.
Apply as an expert at www.clarity.fm
-Are you a talented logo designer? You can visit www.fiverr.com
● Explore where you can do the business of buy and sell. It should be your niche or
you are passionate about.
● Affiliate marketing- You can sell someone else products and services and earn
commissions. You can be an affiliate marketer of www.amazon.com and
www.ebay.com. Or you can start from affiliate marketplace and check what
affiliate products you might be interested to sell. You can sign up with
www.clickbank.com, www.shareasale.com or www.cj.com.
● Look for a network marketing business that is doable and you can commit
yourself 100%.
● Monetize your talent. If you have talent in hosting, you can be a host/emcee.
Look for an opportunity in your local area or search for any events. If you have
talent in writing, you can research about blogging and look for an online mentor
to guide you. Take inventory of your talent and be creative on how you can use
them.
● Do you have a car and in good condition? You can drive with UBER part-time.
Go to www.uber.com.
● Do you have an extra room at home? You can list it on Airbnb. Go to
www.airbnb.com.
● Pet Sitting-If you love animals and would like a way to earn some extra money on
the side, pet sitting might just be the perfect fit for you. After all, no extensive
training or certifications are required. The main qualification to be a pet sitter is to
simply love animals, being reliable, and caring for them in a safe, loving
environment. Still, the earning potential is there for people who are willing to work
a few weeks per month at a minimum. According to Forecki, sitters that treat
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Rover like a part-time job and take two or three dogs for two weeks out of the
month earn an average of $1,000 per month. Interested? Visit www.rover.com or
you can search in your local area those pet owners who might need pet sitters.
Build a Solid Financial Foundation
Below are the building blocks of a strong and solid financial foundation. This diagram
shows that healthcare, as the basic foundation, should be your top priority and
investment shall be the last. Not unless you are already financially-free and you can
build all the blocks at the same time.
1) Healthcare
Imagine, you make an investment as your priority then suddenly you get sick and need
to leave your day job due to health issues. For you to survive, the next thing you have to
do is to liquidate your investment. This is the number one reason why it‘s a must for you
to have healthcare. Statistics show that 90% of personal bankruptcies are due to
unexpected and unforeseen illnesses.
2) Protection (Insurance)
In the event of premature death, life Insurance helps you to have instant money to pay
off financial responsibilities as well as the liabilities you will leave behind.
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3) Debt-free Life
A debt-free life is the kind of life all of us are dreaming of. Is it possible? The answer is
yes. But don‘t forget that while you are working on overhauling your finances and paying
off your debts, make sure that you and your family are protected with healthcare and life
insurance before working on a debt-free life.
4) Emergency Fund
Why is building an emergency fund as crucial as having healthcare and life insurance?
Because no matter how much you plan in life, many unexpected things happen. The
same reason why car owners have a spare tire in their car compartment. No one wants
to get stuck on the road because of a flat tire. And worse is you don‘t have a spare tire
to replace the broken one so you can proceed in your journey. Some ―emergency‖
happen in life that we need to prepare for, like loss of a job, major car and house
repairs, sickness or hospitalization and financial support to extended family.
How much should you set aside as an emergency fund? The basic rule of thumb is 3 to
6 months of your total expenses. You can put it on a separate bank account which you
can‘t access right away. Or you can put it on mutual funds or money market funds.
5) Investments
When you reach this last block in building your solid financial foundation, you should
congratulate yourself! You made it this far. It means your healthcare, insurance are in
place; you paid all your debts; and your emergency fund is already built. The time to
invest has come.
You may have all the excuses not to invest but don‘t forget, you‘re going to get old next
year. Your child will grow up and enter college. And you will eventually retire and stop
making active income.
Why you should invest?
Investments will replace your active income and it‘s the only way to let your money
WORK for you and give you a passive income.
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Robert Kiyosaki‘s book “Rich Dad, Poor Dad” mentioned the following four quadrants:
1st Quadrant- Employed 3rd Quadrant- Big Business owner
2nd Quadrant- Self Employed 4th Quadrant- Investor
According to Mr. Kiyosaki, 1st and 2nd Quadrant are the people who earn active
income—they are the ones who work hard to earn a living inside the office cubicle or
professionals like doctors, dentists, etc. They have to be active or physically present
otherwise they will not earn. While those people in the 3rd and 4th quadrants
respectively are the ones who earn passive income—they are the people in which
money works for them, they earn even while they are sleeping.
Which quadrant do you belong right now?
Shifting from 1st and 2nd Quadrant to 3rd and fourth Quadrant would not be as easy as
you may think but with proper long term planning, it can be achieved, of course, through
investments.
The following types of investments are simple to start:
Mutual Funds
A mutual fund is money pooled from a certain number of investors and each fund has a
specific mandate or purpose. A mutual fund allows the average person to have equal
investment opportunities with the wealthy. You can earn what your wealthy neighbors
are earning through a mutual fund.
Mutual funds are just what the name implies- you, me and a few other people putting
money together in a fund; thus, together have mutually funded the fund.
Mutual funds are classified into Bond Fund, Stocks/Equity, and Balanced Fund.
Your money grows through Mutual Funds in three ways:
1. Income- you get income from stock dividends and bond interest
2. Capital Gains- the price of the securities a fund owns may increase when the
fund sells them, in which case it has capital gains and the gains will be
distributed back to investors like you.
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3. Increased Net Asset Value (NAV) - You can make money by selling mutual fund
units at a price higher than you bought them.
After learning and investing in a mutual fund, you can start learning about investing in
stocks. The only difference between mutual funds vs. stock investment is management.
In mutual funds, the fund manager manages the investment for you while in stock
investments, you manage it yourself.
Stock Investment (not Stock Trading)
Some folks are afraid to invest in the stock market because they say it‘s a gamble. What
they don‘t know is that they only refer to stock trading, not a stock investment. There‘s a
huge difference between the two. Stock investment is long term--a year or so while
stock trading is not.
A stock is an instrument that that signifies equity ownership in a corporation and

represents a proportionate claim on a company‘s assets and profits.
In stock investment, you buy stocks of blue chips companies--those companies which
existed even before your parents were born. These companies are already established
and secured. You don‘t buy Initial Public Offering (IPO) stocks.
In mutual funds and stocks investment, cost averaging is a strategy to systematically

purchase shares of a securities product to offset investment risk in a fluctuating market.
This simply means that you invest a small amount regularly. Therefore, you own shares
of securities at different prices.
There are lots of investment vehicles out there. Believe me; you might have a heart
attack understanding the languages. Or worst, you might suffer from ―analysis paralysis‖
and can‘t start anything at all. Just learn the basic and start.
The difference between wealthy people and average people is that the former takes the
time to invest in knowing how money works. Financial education is the key.
Action Plans:
1. In rewriting your financial plan, which of the above-mentioned financial

plans are applicable to your financial situation.
2. Mark out your calendar of the date when you will declare your “financial
peace”.
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How To Heal Your Financial Brokenness in 7 Ways

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Chapter 1 Accept the Reasons of Your Financial Downfall 11

Chapter 2 Raise the White Flag…………………………………………… 22

Chapter 3 Exercise Humility & Seek Help……………………………….. 28

Chapter 4 Start Rebuilding from Ground Zero…………………………..34

Chapter 5 Review Your Own Theology of Money……………………… 38

Chapter 6 Become a Faithful Financial Steward……………………….. 47

Help Others When You Can……………………………………. 51

Chapter 7 Rewrite Your Financial Plan………………………………….. 55

Financial Freedom or Financial Peace?

How did I find this?

Because I was searching for financial freedom.

I was literally chasing financial freedom.

As a breadwinner, I MUST act. I MUST find a way.

My hunt for financial freedom continues...

The “Blue Ocean Strategy”

More financial storms were heading my way...

The first storm

The second storm

The third storm

Is it the end of the world?

I always read this story when I feel depressed and dull.

A new job, a new beginning…

In January 2013, I transferred sponsorship to my third company where I never

My joy was overflowing to have my family here, though my pocket is bleeding. As I

The crypto madness…

On April 2017, a friend of mine introduced me to cryptocurrency. As usual, I hopped in

I need resolution…a guide

What then is financial peace?

I’m a husband and a father...A sole breadwinner

So, this eBook was born.

Then our twin blessings came...

Where can I find my long-lost financial peace?

As I started chasing financial peace, I have decided to do the following:

meet. Some of my creditors allowed me to pay my loan slowly but regularly. As of

Is it possible to live by 70% of your income?

How about Stock Investment?

House and lot, check. Wedding is next.

Next financial goal is life insurance once the budget is okay.

A bitter pill to swallow...

The right time to start is today…

Cheers to your financial healing!

NILO GOLOSINO SIMOGAN

Accept the Reasons of Your Financial Downfall

The Value of Acceptance

● Improved ability to bounce back from failure or setbacks

● A greater sense of self-belief when tackling new challenges

Where Did I Go Wrong?

CAUSE#1 Are you a victim of a “get-rich-quick scheme”?

“Financial freedom is not a sprint, it’s a marathon” -Phil Town

Statistics on victims of get-rich-quick scheme

1. Mining and trading cryptocurrency

7. Difficulty receiving payments

Some promoters of pyramid schemes disguise their true purpose by introducing

CAUSE#2 Are you a believer of “Good Debts”?

“You can’t be in debt and win.” - Dave Ramsey

CAUSE#3 Are you an Ant or a Grasshopper?

Ant vs. Grasshopper

“In the summer the ants were a-working

“Fi-de-di, de-dah-doo, dah-de da-do

In the autumn the ants were still working

In the valley, he went to the anthill