Miss this - And Your Financial Bucket Will End-up EMPTY!

Think about this - Can You Live a Single Day Without Water? 

Two days ago, we ran out of water in our subdivision because of the submersible pump failure. It was early in the morning when we were about to wash the dishes after breakfast when the over head tank ran out of water and there’s no more water goes out of the faucet. Fortunately, it was raining then and so I gathered all the pails and basins and start catching water from the down spout. It took few hours to fill the bigger basin since the rain was not that heavy. Each of us realized that it was so difficult then for us to adjust living without water. Each of us became more concerned on water wastages and even tries to recycle the used water. We sacrifice taking a bath just to conserve water we gathered until the water supply comes back to normal. There was really discomfort in our part e.g. not taking a bath for two days for example & heaping laundry at the laundry bar, etc… and we got to wait for the pump to get fixed and the situation shall get back to normal.

I can relate in that experience to anyone’s personal finance – the pain of unpreparedness & negligence of having basic foundational financial structure. Many are failing to recognize and failed to implement preventive approach in their respective personal finance. As long as the faucets (income sources) are perceived to be flowing, there have always been failure or even refusal of majority to get a pail & basins to set aside portion (percentage) of their waters (income) because majority cannot resist the pleasure of short-term comforts (or refuse to take short-term discomforts), indulgence to wants and even luxuries.

This is why if we look around, a lot of people are financially bounded and hand-capped to lending institutions, banks and credit card companies, financing agencies or even to certain individuals – even finding themselves working hard in their entire life just to meet their obligations to them. Because if they’ll not, it would mean loosing “ownership” of their mortgaged homes, properties, appliances, and anything they’ve established so far if they’ll end up to default in their debt obligations. It would be so painful for you and to your family being in this situation – so stressful, pressured & depressing, isn’t it? However, if indeed you are in this situation, it would be so hard for you to choose to default and loose everything you’ve got. Instead, you’ll struggle so hard – do anything in your capacity, even to the point of sacrificing the quality time you have for your family just to keep what you’ve believed belongs to your family to enjoy e.g. the mortgaged house, your amortized car and condos, your real assets, etc…

Notice that to be in this situation of financial distress, it is always not an instantaneous effect of any recent negligence and ignorance but an accumulation of smaller consequence of continuing negligence, refusal or even ignorance of the importance of having Income Protection, Emergency Funds and Liquid investments e.g. paper assets. People who are in this category of living have always been in a financially hot-water situation where their families have to forcefully adjust themselves in the event their faucet (income) stops. Example in the event of an untimely death of the family’s bread winner, having no Income Protection & Emergency Funds would probably means stoppage of their children’s schooling, loosing their house to the mortgage company or by selling it, or even turning over the children to their Uncles & Aunties just to continue their studies, or worse, forcing the children to work as young as they are just to sustain the bereaved family.

The scenario is a very common and famous story of the many orphans in this country. This is primarily because of the lack of Financial Education & ignorance of their parents. People tend to prioritize only what is good at the senses (looks, feel & desires) in the short term while refuse to what will do great in the long term.

Back to our case of loosing water, I admit I failed to implement preventive measures in case our water supply is lost – that’s why we experienced days without taking a bath (so stinky though). Praise God there are always parts available in stores so that the defective pump can be fixed and water supply should back to normal. Right now, water supply has already been restored and things are back to normal – I already took a bath twice. However, should my Maker have called me home two days ago, how glorious it would be and I’ll be praising the Lord for by His grace and by faith in Yeshua HaMashiach (Jesus Christ), I’ll be in His bosom. But surely, my wife and my kids must terribly miss me – the moments together, the joy, the love, the service:

But,

• Will they must miss also our house? (PAG-IBIG may foreclose it).
• Will they must miss the school & their friends there? (They might stop schooling).
• Will they must miss having a car? (It might be sold out to raise money to clean up debts)
• Will they must miss their mommy? (She might pursue to work abroad to meet all the their needs) or worse,
• Will they have to work at their young age? OR
  Will they must accept and adjust having a Step Father? (My wife may re-marry)

These are the questions every father should be asking if they are concerned about with the responsibilities God has given to them in raising their respective families they are in.

Our world today has changed so much since the dawn of civilizations – environmentally, socially and even economically. We are in the age of technological advancement – economically, we are set in a sophisticated economic platform where nations, corporations, banks & institutions can use systems to optimize profits and earnings. Even altered “Money” so that even the money that is kept in anyone’s mattresses and or in anyone’s CDs, they can still earn from it (I would call it ROBBING) by way of inflation i.e. deflating the perceived value of their hard earned (saved) money. That’s what they call ADVANCEMENT! This is why it demands Financial Education so that you and I will not become the “unconscious” prey and easy victim of these evil and greedy crooks who always wanted to keep what they already have, and still wanted to take what others have.

By implementing the Infinite Banking Concepts® / Becoming Your Own Banker® in your personal & family’s finance, it will enable you to implement the three (3) basic foundation of personal finance i.e. Income Protection, Emergency Funds & Investments (Low Risk), plus a lot more of financial advantages, Big companies & corporations have used this concept by way of B.O.L.I. and find it as an efficient method to protect the interest of their assets, incorporators & owners from lawsuits, creditors and even bankruptcy. The concept have been practiced and been there for centuries and proven effective. The Elevation Group have identified that this strategy is one of the many business strategies contained in the “Investment Black BOX” used by ultra wealthy individuals & corporations for many generations. While the instrument (paper asset) that is being used as the vehicle in this process and concept have been existed in the market for more than two centuries and remained stable up to our time. Unfortunately, very few are aware and have recognized its existence. Thanks to Mr. R. Nelson Nash who passionately shared and teach the concept in his revolutionary book which started it all. This concept is no more a secret even to me after I got my copy of the book and read it.

In Proverbs 21:20, the Scripture have presented to us with a contrasting cases of a financially WISE and a FOOL. Reflecting at these passages enable us to see that many are experiencing financial hardships in life because many have lived like a fool – succumb to the fleshly desires & comforts which resulted to spending all the family’s earnings and became fools. Even there are numerous people surrounds us living a lifestyle that is more than what their family’s earning. The Bible calls a person a FOOL if he spends all what he has. I just don’t know how you call a person that spends even the things he doesn’t own yet (living on credit). Only few, very few have experienced abundance in peace, stress free lifestyle, “real” comfortable living – that is having a fullness of life because very few chooses to be wise.

Let me ask you this, do you live a wisely? As always, we need to be wise! Not just in our personal finance but as well to our health, relationships (to God and to men), our duties and responsibilities, our character, our thinking, our speech, in our action, in our priorities, and so on and so forth. It is in fact the Lord’s command to be wise – To be wise has a promise of blessing.

Till then, this is Bong Bungalan Jr. – a Financial Advisor saying have a great and blessed day.