Success Wizard: Start Managing Your Money Now

(Originally published on August 7,  2011; reprints previous original material published in this section)

By Jordan Patente

I landed my first job as soon as I graduated college. That was seven years ago. Just like any other Juan, I wanted to plant as many trees that could bear fruits in the near future.

Those were the years I established my career and personal life. I now have my training business and still manage to work in a multi-million company. I live in my own house and drive my own car, all because of my relationship with money.

Growing up was a humbling experience. I only had my mother to raise me. Mom did her best to meet both ends for my two siblings and me. I know that there were times when Mom was in financial turmoil, and it was for this reason that I started managing my finances during college; and it contributed a lot to my accomplishments of seven years.

If you manage your finances early in your life, you will most likely do the same thing when you mature. You only reap what you sow. Below are some of the tips that I used to train myself in money management:

Allocate a weekly budget

If your parents can afford to give you a week’s worth of allowance, ask for it. This is an effective strategy to forecast your expense limit for the week. I still do the same thing now. Every payday, I allocate a daily and weekly allowance. Keeping your expenses within limit will develop self-discipline. Managing money is about self-control. Never let money control you.

Most of my work colleagues are in financial turmoil because they allow money to manage their life. Money is just an object, and without the spender it is nothing. Take full control of your money, and decide on when and how to use it.

Social stature

Today, high tech mobile phones are selling like hot cakes. If you don’t possess the latest popular gadget, you are out of fashion. Part of managing your finances is the people that you surround yourself with. If you choose to group yourself with “rich kids,” you might force yourself to spend like them. I have nothing against people with money, but you need to keep your finances within limits. If you can’t meet their standards, the choice is yours to either stretch it or look for a better crowd to suit your money situation.

Invest early

Your today is your tomorrow. When I was still in school, I sold all types of bags, coffee mugs and even scented candles to help me save for my thesis. Today, I have small businesses that have become earning streams. Selling would’ve been out of my comfort zone if I didn’t try it firsthand.

In my last “Magic to Success” theatrical seminar, I had a participant who was just 17 years old. It was a heartfelt experience, because having a participant his age is a testament that in the near future, another successful man will be born.

Starting early is good training for all of us. The more we expose ourselves to success, the more we become successful.

We are all after our own emotional growth and maturity. Starting young means more opportunity to learn, as well as a bigger chance of becoming the new breeds of success.

I’ll be teaching a financial management seminar dubbed “Magic to Success (Money, Love and Health)” on September 24 in Ortigas Foundation Library at 7:30 a.m. To maintain high quality of training, we will only accommodate 50 participants. This event is not your typical seminar. We will talk about success tips to fast track the  accomplishment of your dreams. Participants will be asked to put their learning into action within the seminar. We also have actors to play key parts to fast track your learning. You may contact us at (915) 211- 7878, (2) 380-3180 or e-mail us at dynamicempowermentphilippines@gmail.com.

Jordan Willy Patente is the president of Dynamic Empowerment Philippines and has been a success coach for five years. He has also conducted motivational talks and directed musical and theatrical productions.

 

(All rights reserved. Copyright Manila Bulletin. May not be reproduced or copied without express written permission of the copyright holders.)

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Posted on September 15, 2011, in Business Agenda Classifieds Columns, Success Wizard and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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