Last Saturday, Coach Aya Laraya as he ushered us into the 4th Session of talking about financial freedom and today he's tackling about the importance of understanding debts and applying loans in a very concise manner having to have a reliable and right feasibility study be it on a personal or corporate level.
Here in the Philippines, when a typical person hears about debt or giving the option to borrow such amount of money, it always have a negative connotation on it. But we have to be aware of the fact that most of the big businesses or businessman in every country has considered it to be one of the biggest factor for a more reliable and fruitful earnings on any kind of business or organizations.
This is one way of making us as a country's pillars to succeed in our endeavors as an organization or even for a simple SME (Small and Medium Enterprise).
A housing loan is one of the personal or a family type of loans that is secondary to his list, which give us the reason to have our own property.
A Car loan that is very cheap specially nowadays that the down payments has been too low.
And for a typical Family who goes on to meet up financial living for a day to day he suggested , that one way help us control and regulate our usage for Credit Cards. It is one of the least types of having Credits that should really be closely monitored allowing only 60% of your monthly salary will be your total loanable amount .
This kind of teaching I think is one of the most helpful one specially to the employees be it on the lower or higher level. Sunlife should do many kind of talks with regard to this and it will be a great help to educate us Filipinos regarding on having a financial freedom and helping us to be wise in every kind of move we have to do with our money and resources.
Realizing this we have been so tempted with the spice of life and great advertising of every product and gadgets not knowing that this kind of lifestyle will make our lives more than miserable and in the end gain nothing.
Only Here at this seminar do I understand and fully realized that the 0% Interest of buying such gadgets and other kinds of Appliances are not really a good idea and if ever we should abstain from such kind of so called Great Deals .
I suggest that if ever one would like to loan for example for house or a condo or even a car just make sure that you have the capacity to pay it because by just having it pay on the succeeding alloted percentage it may just waste our money and in the end cannot pursue it till the last paying month. It is just right and wise to see if it is feasible or not.
Lastly, I learned that there is non other time to invest but today , and I am doing my best to save so I can at least make some investment ,at least with Sunlife prosperity card. With this I may learn and give chance to make it happen before this year ends.