Papa – that’s how I called him. And no, we didn’t have the perfect father-daughter relationship. Yet, it’s funny how he managed to impose the money hacks I have until today.
The truth is, I had only been with him until I was 15 years old. Despite not knowing where exactly he is right now, I believe I have learned valuable money hacks from him.
He didn’t teach me these things directly. But I guess 15 years were enough for me to learn something from him.
Money Hacks: Make simplicity your lifestyle
Every time I see him, he’s always wearing a shirt, slacks, and a pair of slippers. He rarely wore black shoes, or polo, or expensive clothes. I always wondered why but he said he didn’t want to spend his time thinking on what to wear.
But, on top of the simple life, he’s a successful businessman. He used to have several glassware merchandise shops in the top markets of Metro Manila.
If you think of a millionaire, you will think easily think of a sports car, expensive accessories, or even signature clothes.
He’s definitely not one of those usual millionaires you’ll see.
He was very simple, without any hint of the kind of life he has.
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Don’t hesitate to hustle!
Worthy money hacks for you
He used to wake up at 4AM and go to his shops immediately. Do you know what time he finishes his work? At exactly 9PM!
During holidays, he would even close his stores around 1AM or 2AM. Of course, as the owner, he was not literally staying all day. I’m quite sure he was leaving in the middle of the day, probably going to different places.
He’s indeed a hard working guy. He knew what hustle meant, and all of these paid off. His hard work made him escape the life he has in the province to support all his brothers or family members.
At one point, I asked him why he was working all day. He simply said, “Para mabuhay (To sustain living)”
Banks are your 2nd home
Contrary to other money hacks…
When I was starting out in my career, I have always loved the idea of visiting the bank. I got it from my Papa.
There were times we would wait for 1-2 hours just to get something from the bank. I didn’t know the main reason but I’m sure he always had transactions.
It’s too alarming how most people right now portray bank as the “evil ones”. When in fact, they could help if you would choose the right product.
Pay Taxes (please!)
We were at the QC City Hall, waiting for my father to finish something. I was too bored so I asked my mother to follow him.
We did, and saw him with his assistant.
I ran to him, and asked “Bakit ang tagal mo? (What’s keeping you so long)”.
He said, “Ang haba ng pila sa tax. (The line for tax payments was too long)”
Fast forward to 2017, I shifted my status from employed to self-employed. This time, I had to finish everything from transferring my RDO, to payment, to printing of receipts, etc.
There were days that I wanted to give up, and not pay these taxes anymore. But I suddenly remembered how patiently my father had to wait for long queue just to renew his permits.
He was proud that his business was registered and legal. So he could expand his stores, and provide more instruments to earn.
It might be unusual to see this to the list of money hacks but it’s very useful indeed!
Cars can be assets!
How many articles have told us that cars are liabilities? They depreciate in value, and that they’re considered liabilities.
That’s 100% true except if cars are needed for your business.
In 15 years (or maybe 8 because I only noticed it when I was 7 lol) , I have seen him drove five cars.
But these cars were not “pogi”. Mostly, three of them were vans. He mostly used it for his products, or delivery.
Haha. There was one time it was too hot at the back of the L300 Van because we needed to open one window. I couldn’t recall what it was but there was one item that should be extended out the window.
Okay. So cars are liabilities but if they can add value to your life, they’re not.
If you think you’re spending more with car deliveries, better get that new car (or van). Haha.
Good debt pays off!
I’m actually in love and an advocate of credit card. I must have learned it from him.
When I was a kid, I was just amazed how he could afford groceries or gadgets with one swipe. No wonder I own several ones!
But credit card is not the good debt I was referring to. I’m actually thinking of business loan.
Upon asking how he got his money, he said “Nangutang ako sa banko (I borrowed money from the bank)”
We’re all afraid of debt, but there are people who made it because of good debt.
This is actually one of my favorite things I learned from him. I’m not afraid of debt, especially when it’s being used for business or investment.
I wish I could share the full story but he didn’t give me huge amount of money. In fact, when he left our family, my life took a huge turn. He left us hanging, especially my brother who was in college who had to stop school to support us.
I was about to take the important entrance exams but I couldn’t. We didn’t have any money even for 500 pesos entrance exam fee!
Despite not being able to stand up for us, I’m just thankful he left me these lessons. Cliché as they may sound, I wouldn’t get any chance to understand these money hacks without his guidance.
Wherever you are, I wish you the best in life.