I am for the new order when it comes to preparing the next Generation on how to achieve financial freedom. What I’m about to share are practical insights I have gained from reading books, attending seminars, and interacting with like-minded people in the industries I belong to and at church:
– To be business-minded, to be entrepreneurs; we should encourage the next generation to know their passion. Because out of one’s own passion, they could be successful wherever they may end up as long as they will put their heart and mind to it. Look at the Tsinoys (Filipino-Chinese), most of my Tsinoy classmates in college ended up as businessmen. Why? It’s in their blood and they were raised to be like one at an early age. Being entrepreneurial is not exclusive to one race but a mindset available to all;
-Employment is not the end-all and be-all; we should not copy what our parents told us when we were young: Mag-aral ka ng mabuti para paglaki mo, may maganda kang trabaho. (Study hard so that you’ll get a good job when you grow up); instead, we should encourage the next generation to be leaders and if possible, to be on their own. We should train our children early on to identify their passion so that they can already know what they want in life later on ;
– That one should respect and not look down on sales people as if it’s the worst job in the world; it is a noble profession and if you work hard in sales, you will reap what you sow and that in sales, there is no retirement age; To the working class, and I’m speaking from experience here, some of them view sales people like me as unemployed, jobless, walang ginagawa (nothing to do) when some sales people are really better off than the employed ones (more than the salary, it’s the time that you own that makes you better off); What I’m saying is that if your aptitude is not to own a business, then your other option is be self-employed and the way to go is in sales (again, at least, I can speak from experience);
– That we should do away with this age-old tradition that putting your money in the bank like time deposit is the best way to save and grow your money. Saving is not enough; one should know how to make their money work for them. You call this Investing. And there are many investment instruments/options out there if you will just find the time to study them (one example is Mutual Funds). And you would know more about these if you will invest in Financial Education. But they don’t just simply tell you where to put your money. The heart of every Financial Education is to change your paradigm or mindset. That is the key to Financial Freedom. They say spending money to attend FINANCE EDUCATION TALKS and SUCCESS SEMINARS is expensive. Okay, try ignorance. It is more expensive because the tendency is to spend money based on bad decisions. Bad decisions can lead you to a pile of bad, big debts, business losses, etc. whereas, if you are equipped with the knowledge and wisdom obtained from financial education, you will be more prudent in spending your hard-earned money. In other words, you would do well if you would try to learn from the experts. Sometimes you need a jolt in life. You do not need to experience the mistakes of others. All you need to do is learn from their mistakes.
Many people want to continue reaching the pinnacle of success and what better way than to learn from the best leaders of our society, inspiring entrepreneurs from different industries, and motivational speakers the secrets of their success?
Success is a common pursuit of all. It is a universal need. And the beauty of it is that it can be achieved by anyone if you follow certain principles.
What drives them? Where do they get their motivation or inspiration? How do they think? What is their attitude? what kind of mindset do they possess? Do they practice certain habits? What can I learn from their failures or mistakes in the past so that I would avoid it in my own situation in the near future? More importantly, how do they maintain and keep their success and continue to be successful in what they do? Surely, there must be something common in them no matter how diverse their backgrounds may be.
I could go on and on. There are just so many ideas in the world and you just have to have a discerning eye to pick what’s best for you.
But one last and most important thing that the next generation should follow is this: Read the Bible. The next generation, if they will heed this advice, will never go wrong in heeding this valuable advice. They could start with the Book of Proverbs because it contains a lot of wisdom about life. Try reading one chapter a day of the book of Proverbs and you will cover all the calendar days because it contains 31 chapters. Do you know that the Bible contains more verses about money than prayer, faith, and other spiritual terms that you could think of? Why is that? Because God understands the importance and practical uses of money. But only He commands that you should never treat money as your god for He alone should be your God. God wants us to worship Him alone and no one else. That is how practical and relevant the Bible is to this day. You see, all of life must be guided by God’s Word, and that through a serious study of the Bible, we hear God addressing contemporary problems and issues.