Play Now then Pay Later or Pay Now then Play Later, Which one are you?

Have you ever heard of the phrase or quote  " Play now then pay later or Pay now then play later"? or to be more specific "You can pay now and play later OR you can Play now and pay later. Either way you have to pay" as per John Maxwell

This is a very common quote used in any seminars or conference specially related to financials. But what does it really mean? I can associate a word to this quote that for me leans toward "Paying now so i can play later", whats that word? "Delayed Gratification"

As per our trusted Wikipedia "Delayed Gratification" or deferred gratification is the ability to resist temptation for an immediate reward and wait for a later reward. Its the patience to wait for that greater long term reward rater than the small short term ones. 

In regards to Financial Freedom, wait whats Financial Freedom?

Again as per Wikipedia Financial Freedom is described as the state of having sufficient personal wealth to live without having to work actively for basic necessities or simply put the capability to buy or spend without looking at the price tag and having the financial security knowing there's more where that came from =)  (that's my definition anyways hehe)

Going back, Financial Freedom is the goal or dream of any person and the quote mentioned above directly affects our Financial Freedom. How? Its the choices we make in the process that affect the end goal which is Financial Freedom. Simply put most people would rather "Play it now then Pay it later, for example, buying "stuffs" (gadgets,shoes) taking that vacation, parties and such then Paying for it afterwards with greater Time and effort. While "some"  will "Pay it now, then Play later". these are the people who will save and invest now, instead of buying that new phone or taking that short vacation so that in the long run they can get that house or that dream car.

I have met a lot of people who have chosen to "Pay now" and share these characteristics:

• Live on less than they earn
• Choose to invest and save for their long term goals

Because they are "paying now" they are going to be able to play later while  those who chose to "Play now" and while the fun lasted when its time to "Pay" its not Fun anymore =(

So how do we get to Financial Freedom? The answer lies in Savings and Investment! Now, most people will say that Savings and Investing is nearly impossible for them as their current income is not even enough. So they will put Savings and Investing on the sides for a later future when they get an "extra income" but how and when will that happen? Rather than looking down on our primary source of income, why not check a solution that's in reach but mostly overlooked.

Whats that? Our lifestyle and spending habits is one factor that we can look into and work on. If you look at our lifestyle and spending habits, its not the amount that's an issue but the "Will to save and invest" is our challenge! When a person has the "Will" to do it, then it can be done!

As i read before "Savings is not proportionate to the amount of money you earn but rather the amount of money you save from your income. As we all know, expenses is directly proportional to the amount of income that we have. The higher it is, the higher our expenses as well. In short, if we want to save, let’s take a look at how we spend our money and look for ways to decrease expenses and increase savings"

Lets look at some examples to illustrate and prove that if we have the "Will to save and invest", look at what will happen 

I know most of us drink Starbucks coffee, coming from the BPO industry, the coffee chains have been synonymous to us either for the coffee experience or for some the "status" . Assuming per order is around 200Php and you consume around 5 orders per month or even more. Instead of having this, you can change your spending habits and lets say trim down on the coffee or opt in for a more affordable coffee. Now look at this, most of the BPO employees nowadays earn 10,000 per cut off or roughly 20k in a month (give or take). Now what happens when you spend on that coffee every month that's 1000 as an expense and continue that for 12 months or 1 year that totals to 78,000Php for your coffee,  "Play now then Pay Later". Now you might say, really? who drinks that much coffee anyways! Well 9 years in the industry and Yes, people drink that much coffee (for what ever reasons) were not even taking in account those pastries consumed or lets say drinking or vices. Now i'm not saying Coffee is bad, my point is plain and simple, can you imagine what you can save and earn if you used that money wisely instead.

Now, lets say you take part of that 10k salary and instead of spending it, we chose to invest it, looking at a long term goal "Pay Now and Play Later". Lets say that investment cost 8900 and its earns exponentially every month (by the way, the figures onward are the actual figures you can earn) As any, legal and secured business, its a long term plan and as mentioned its exponential so even though the earnings at the start are at minimal in the 1 year sample it doubles, triples and continue to grow even becoming passive from an active income. That's more than 100% returns and by this time you can drink any Starbucks frap or coffee you want even at multiple times, everyday! 

How about the latest gadgets like phones and cameras? Do you really need that stuff? Is it a necessity or a luxury we try to live by today? Lets say your buying the latest phone every 3 months and it cost around 30,000php (take note that the latest Iphone actually cost around 50k). Thats 120,000php in a year compared if your already earning exponentially! Not to mention that gadgets like all liabilities, there values may go down as time goes by.  

The list of samples can go on, from shoes, clothes, bags, vices even unscheduled travels. On the other hand, what if we play it smarter and think long terms. What if think "Pay now then Play later", delayed Gratification,  this is what all rich people think and do with. What can happen to you  and what can you accomplish 5 or 10 years from now with just 2-3 years of sacrifice and disciple. Will you have that very own house or that fully paid car?

Now nobody said, getting rich and having Financial Freedom will be easy, it requires a lot of hard work and disciple but more importantly it takes "Will"

Can you sacrifice today for a better and brighter tomorrow?

If we only  practice the right money and spending habits, live by the "Pay now and Play Later"/Delayed Gratification principle then truly we can live abundantly for the years to come! 



>> 3 Years ago, Like most employees i was also financially struggling. Over worked, stressed and with no savings under my belt until i found a Money making Machine called GFI. Not only was i able to resigned from my work because of GFI, it gave me an opportunity to have more quality time with my family and secure my kids future as well.

If your interested to know more about GFI, just visit my Facebook page, add me and send me a PM and let me share to you "possibly" the greatest opportunity you'll ever do

https://www.facebook.com/dondy.gonzales

Cheers!!

Can you earn BIG money and get RICH in employment?

First of all, before you continue reading this article, let me already advise that this may hit "some nerve" for some people. As they say, "the truth hurts but it will set you free". Now if you are not open to others ideas and creative criticisms then, please don’t read any further but if you are open to others ideas and feel that this is an article meant to help you then, enjoy.

I have been catching on my readings, as well as some bonding moments with my peers and I realized I’m always being bombarded by stories about how hard it is being an employee specifically on the financial aspect. So I made some research online, gathered some experiences and stories and this is what I got.

Honestly, this is a crucial everyday topic already that I am well accompanied to as well, so I used to share the same sentiments and as it looks, not much has changed.

I don't want to say that nobody gets rich in employment, period, since I have read some items that are an exception that does make sense. Here are the exceptions:

1) Employees invest their hard earned money (retirement pay more or less). This is no trivial task since some have taken years to even save in the first place to actually invest it. I know a lot that was only able to invest upon retirement or near that age.

         a) Some would invest in traditional business like water refilling stations (I know a family friend who did this, father retires then invested in the province)
         b) A few will invest in bonds, shares and mutual funds. As much as this is  a enticing and could be lucrative, these are no items for beginners and a lot lose big money from the start due to lack of information and experience.  I suggest you equip yourself first with all the information you can get and an experience mentor/adviser before even attempting this one.
         c) And of course there is the MLM opportunity. Low capital, minimal risk and high returns. Now I will not focus on this for now since I am an active part of the industry and I’m not here to up sell myself.

But in reality while you’re tied in your employee career for the next few decades and have not saved that sum of money, these are what most people are doing.

1) Have you seen and met colleagues selling all sorts of knick knacks and homemade delights? Yes, this is what most are doing part time to make ends meet. Now there is nothing wrong with this, it is an honest source of income and hard work as well. In my Manager career, I was even a loyal buyer from some staff and sometimes a promoter (Christmas cookies or cakes anyone? hers are delicious) so next time, somebody tells you " i don’t like to sell anything" one point of your life you actually sold something from small knick knacks to an idea. Promoting is still selling.

2) Need insurance? Oh yeah, there are a lot of them as well =) insurance is not a bad investment, in fact one of my mentor is worth 20 million in insurance alone. He even said that insurance is a great investment for your money once you have a money generating machine other than your work because if this comes from your pay slip alone, it’s still an expense that could be challenging to maintain.

3) Are you looking for a house or maybe a condo? Honestly, if any of them offered me a place within my choice of locality I could have gotten one then but laguna, taytay and montalban was too far for me back them. Again, another good source but this is more of one time big time for me. No sale no allowance, it’s like selling cars.

4) Pautang (lending money)....too risky for me. Especially in the BPO industry I know a lot of very notorious people and horror stories about this. Again, if your good at harassing people to pay up (just kidding, not always the scenario) then 3%-5% interest are high returns ( Kapit sa patalim people, I know a lot of them. Sadly, some could have avoid this with a little good choices and decisions)

5)  And of course there is the MLM opportunity. Low capital, minimal risk and high returns. 

6) I don’t even want to tackle the shady deals but YES, there are a lot of them. Back then I even know people who would take coupons and make up liquidation reports just to kick some extra. Not recommendable by my standards.

But this has nothing to do with your work directly, what can you do with your work that can give you the chance to earn big? Just one way and that is through “Promotion”

Have you heard of the 80%-20% rule? 80% of the money and compensation only goes to the 20% population. That 20% is such a small percentage to move into especially since that 20% is limited to a number of allocations only. What am I talking about? That 20% is your corporate leaders and managerial positions and trust me they’re not going to give those positions easily because they themselves got it through hook or crook (just an expression)


If i may quote this line from a article from Phil daily inquirer
"It is evident that long years of dedicated service are not the key to making big money out of employment.

This is bad news for employees who have been programmed to believe that as long as they continue to make the businessman rich, they too will get rich when they retire. When successful businessmen retire, they wallow in luxury. When an average Joe retires, he either invests his hard earned retirement money
wrongly, loses medical benefits for sicknesses he contracted as an employee, or simply squanders his big money that he wasn't used to have all his life. Ces't la vie."

Yes, the only option to technically earn big in your work or employee career is be promoted and keep being promoted. Note that I said "technically" not "ethically", you know what I mean.

So what do you need to prepare yourself for the corporate “Rat Race”

Its smart to start in a good company, Why? Promotion requires time and a lot of effort and the last thing you want is to invest those in the wrong company or career path.  Always work with your options, don’t just jump on the first ship that will offer you a ride. Be smart and do your home work about the company and your possible growth path but again this is no easy feat. Everybody has the same idea as you and some may even have the better school and credentials. be ready to fight for that position if you don’t want to be just a average joe at the office.

Your talents and skills. This is your value to the company. The more you have this, the more valuable you are.

Always learn and keep learning. It adds to your value. 

Always have the edge compared to your peers and competition (friendly of course) Always remember, at the end of the day you are still a number to the company and a number away from the next replacement. Number can pertain to stats, deliveries, sales or success rates/projects.

Yes, Attitude is still important. For me at least, when I screen new candidates for positions I take in greater consideration over talent or skill is the person’s attitude and interpersonal skills. Anything can be learned and taught but attitude can make and break everything not to mention you don’t learn this overnight. 

Experience is always the first requirement that all people ask for so be prepared to burn a lot of time to acquire experience. Yes, you can say some get lucky but as a standard, experience is the first thing to check.

Most importantly, be well informed. Office politics anyone? If you’re not aware of your own place politics well, let’s just say it’s an advantage to be in the know. By the way this can make or break you, even if you’re the best in the game, be warned it’s not a fair ball out there.

Hopefully, I didn’t forget anything. Give or take that is what they or you will have to look for if you want to climb that ladder and run that race. As for me, I’ve been there, it was an experience and I would say people can go through the same experience so they can get their own experience and learn the same values because at the end of the day even the big guys in my old companies were always on the lookout for the next opportunity to earn more. I’ll be honest, resources can do a lot in life that’s why admit it or not everybody is looking for chance to earn. There is nothing wrong with money especially if it will make the life of your love ones more comfortable.

As i was always advised, there is no such thing as easy money or easy way. There are always challenges but nobody said that we cant be smarter and handle it better.

The only question I leave you is this, given the chance would you prefer to earn 100,000 thousand after years of hard work when you can earn the same amount in half of that time or even months? Nothing is impossible, there is a lot of ways to earn and some may even know something that’s not included in this article but the point is opportunities are just a waste when you don’t give it a chance.

Rather start young, since you’re going to do business when you’re old anyway.