Play Money

Young people get themselves into trouble because they are eager to prove themselves. They think they know better so they tend not to listen to their parents. The situation is further aggravated by daring friends who have access to funds and who are equally careless with money. I am astonished as to how and where these kids got their money. They could easily source funds.

When I was 25, I didn’t even have two thousand pesos in the bank. When I was 28, I didn’t even have two thousand pesos savings. Yet nowadays, young adults could easily play with money. Two hundred thousand there, a million here, flip there, flip here. Who gives them the money? Parents? No, from their friends, and friends of friends.

It boggles my mind how these young adults play with their money. Very aggressive and full of swagger. Nakakatakot kasi maraming bad influences.

I had a good talk with one of my son’s classmates since grade school last Wednesday night. He came over to the house. I was surprised when he told me that earning 5% a month is easy. I told him that our companies earn a maximum of 1.5% A YEAR minus taxes and other expenses pa. There are times, loss pa nga. He said if we wanted to earn more we could flip or re-invest the earnings and earn 5% a month. Whoa! He said Henry Sy Sr. does that that’s why he is a billionaire. He is right. Edmund and I are too simple people, kaya siguro hindi kami bilyonaryo. Happy na kami na meron konting profit at pambayad ng mga expenses. Pag merong sobra, kain, shopping and pasyal. We don’t dream of flipping and spinning our little profits for it to multiply fast and easy.

It’s hard for me to comprehend these things. The younger generation is more money driven and aggressive. They are in a hurry to accumulate wealth. I guess there is nothing wrong with that. But many things could go wrong when one is careless and gullible. Madaling maloko, madaling mapaniwala because if you are money-driven, your tendency is to grab opportunities to earn high and fast. The risk is too great. Pag nawala ang pera mo, naku, malaking problema. My son’s friend also told me, “Auntie ganyan naman ang business, it’s like putting up a restaurant, some people invest 100 million, 40 million and they lose their money. The business idea didn’t do well”.
Eh mabuti nga kung ganun ka simple. When people gave money, they expect to earn a lot, When the business idea collapses, they get mad and sue you. They don’t want to admit to themselves that they gave the money with full knowledge of the RISKS involved. They will claim they didn’t know.

He also told me that there are dozens and dozens of people who are into lending, flipping and spinning. There are many people in need of capital or funds and it’s difficult to borrow from the bank because of a long list of requirements including real estate collateral. This is the reason why many people borrow money at 5% or even at 15%. I told him we only borrow money from the bank for the merchandise inventory because the interest rate is lower and since profits in cars are low, we cannot afford to borrow at high interest rates.

While I was listening to this 26 year old boy’s insights, I was both admiring him and at the same time I was worried. He and my son lost money together and they could lose money again in the future if they are not careful.

I would like to say that money is not all there is to it in this life.
We all want money. We all need money. Who doesn’t want to earn more money.
People’s dreams and aspirations don’t stop when we achieved them. Human wants are insatiable. The more you have the more you want. It’s rare that you’ll find someone who wants nothing more and is content.

There is nothing wrong about wishing and wanting. I was like that too when I was a lot younger. Until now, I still want many things. I want to buy a miniature horse, I want to buy a female cow, I want to buy two peacocks, I want to finish my kubo, I want a black Kelly bag, I want to buy a brown Patek Philippe watch. But the difference is that I wait. I am not in a hurry. I do not flip and spin to buy the things I wanted. If I get them, fine, if I don’t, It’s fine too. Those are material things, they are not that important. But admittedly, among the list above, I really do want to buy a cute horse. Maybe next year. See, no hurry. I wait. The watch? two years from now. The peacock? I am still weighing if it’s practical. The black Kelly bag? The color is not up to me because it would depend on what the store would be willing to give me. When? When I go back to Paris in late 2018. And of course, factor in THE IF. Matyetyempo ba na may extra pera ako in October 2018? Or, by that time, baka ayaw ko na.

I heard two young people resigned from their minimum-paying jobs because they went into lending. They lent money for 10% a month. The idea failed. And now they don’t have jobs and they lost their 400,000 capital. Who’s fault? Theirs. Of course. Too risky. Too careless.

When there’s an opportunity that you cannot resist, please take into consideration also the RISK involved. Ask yourself, WHAT IF I lose all my money? Will I be able to absorb that risk 100% without regret? If the answer is a big resounding YES, then go ahead, take the risk and be ready for the hit. If and when it happens, do not sulk, cry and blame others.
Instead, learn. Learn from this mistake and come out more mature, smarter, and more careful.