I have always been an advocate of proper money management and financial planning. I’ve written hundreds of articles & blogs about it and have spoken in hundreds of seminar reminding people to manage their money properly and achieve financial freedom. In fact, sometimes I find myself like a ‘sirang-plaka’ because I say the same things over and over again. The financial education of many Filipinos though improving is still far from ideal and many of our brothers are misguided with regards to handling money.

But that’s not what I am writing about this time. While they are definitely a small minority in this nation, some have gone the opposite route when it comes to money and have amassed a sizable fortune in their lifetime. There are quite a number of people who have embraced money as if it is the answer to all their questions in life and that money is the end goal. Money being a source of true joy is wishful thinking as wealth is insatiable – many will not achieve satisfaction until they are consumed by the quest for wealth. My friend Jayson Lo often says that “the best financial principle is contentment” and I say amen!

Money is important, there is no denying that – in fact Zig Ziglar once said that “Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.” Money is a tool that allows one to get the best in life and it is a powerful tool in being a blessing to others. In a TV appearance at ANC’s On The Money, I told Edric Mendoza (the host) that ‘money is just money’ – it’s what you do with money that really counts. While financial responsibility is definitely a given and we need to save and invest to secure our future, we need to be mindful that ‘money is just money’ and not the end goal. It is sad to see a lot of wealthy people who become so attached to their wealth that they are forgetting to be generous; the ability to be a blessing is a privilege that the Lord has bestowed upon us. I now realize that the ability to create wealth and wealth in itself is something that comes from the Lord himself and while I believe God wants to bless us, He also has a purpose for the wealth He allows us to have.

During a recent discussion at a small group with one of my mentors, Atty. Banjo Navarro – he cautioned us that money is a very powerful idol that can keep us away from establishing a real relationship with God. He said that it is very hard to call yourself a real believer of Christ if you have issues of parting with your wealth. A believer who religiously goes to church and even one who tithes can be so enamoured with his money that he can’t help others even if he was given an opportunity to do so – and totally forgetting the teachings of Jesus himself.

A good reminder to all of us can be found in the book of life (as always):

Then he told them a story: “A rich man had a fertile farm that produced fine crops. He said to himself, ‘What should I do? I don’t have room for all my crops.’ Then he said, ‘I know! I’ll tear down my barns and build bigger ones. Then I’ll have room enough to store all my wheat and other goods. And I’ll sit back and say to myself, “My friend, you have enough stored away for years to come. Now take it easy! Eat, drink, and be merry!”’  “But God said to him, ‘You fool! You will die this very night. Then who will get everything you worked for?’ “Yes, a person is a fool to store up earthly wealth but not have a rich relationship with God.” – Luke 12:16-21, NLT

Like anything in life, it’s all about the balance. Don’t take money for granted but don’t make money your everything. True wealth can only be found in our relationship with Christ.

For where your treasure is, there your heart will be also. – Luke 12:34, NIV

Catch me at No Nonsense Seminar on Finance: How to Invest for the Future, presented by Sun Life Prosperity Funds. It’s my investment seminar and it will be held on Sept. 22, 2012 at the Legend Villas, Pioneer St., Mandaluyong City. For inquiries, send email to [email protected] Details HERE

I have yet to find a person who will sincerely say that he does not want to be wealthy. While there may be those who claim they prefer not to be wealthy, I really doubt that they really meant what they say.

Being in this line of profession, I’ve met a lot of wealthy people. I’d like to believe that many of them seem happy, although some aren’t. I also noticed that it is not the level of wealth that dictates their level of happiness. Why is this so? This got me wondering and prompted me to write about it in this blog.

A few years ago, I read the book Till Debt Do Us Part by Chinkee Tan. I hope my friend will not mind if I take out a few words from his wonderful book (I highly recommend the readers getting a copy of this book).

“Wealth gives people a sense of security. The philosophy behind it is the more money you have, the more secure your future will be. That life will be easier and be more stress-free because you don’t have to worry about money and the things that money can buy.”

When you read Chinkee’s words, it really sounds logical. How many times have we worried about money? How many times have we been so stressed because of our need for money? If you are like me, that’s a lot of times. However, Chinkee disproves this philosophy.

“Actually, this is a myth. This myth takes many forms. Usually, it takes the form of ‘If I only had a newer car, if I only had a larger house, if I only had another few millions per year, if I only had a new phone, if I only had some better clothes, if I only had a better education.’”

If the purpose of wealth is that it gives you a false sense of security, you will never have real peace of mind.

Wealth is important not because of wealth, per se. Wealth becomes important because of the purpose of wealth itself. It is why we need to be wealthy that really gives it true importance.

For some, wealth is associated with something evil. Many people find power with wealth. There is even a common saying that money is the root of all evil and a majority of crimes being perpetuated are due to the need to accumulate or the need for money.

Well, money is also needed to survive. Even primitive civilizations saw the need to use money for many things. Yet, money and wealth seem to have always had a bad reputation.

Is accumulation of wealth really a bad thing? If you look at the Bible in Matthew 19:24, it is written: “Again, I tell you, it is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God.”

If you take this verse to heart, you will never want to be wealthy. I am not a theologian, I’m not even religious… but I think what was really meant in that verse is about our real purpose of acquiring wealth. If the accumulation of wealth is something that consumes you, then maybe wealth can be considered as evil.

In my opinion, wealth and money are amoral. It is neither right nor wrong. Just like a knife—in the hands of a chef, it is a good tool; but in the hands of a criminal, it is a bad tool.

Besides, money being the root of all evil has often been misquoted. The correct verse is found in 1 Timothy 6:10, “For the love of money is the root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many grieves.”

The wealthy people who seemed to be genuinely happy are those who are not consumed in their quest to accumulate wealth. The wealthy people who seem unhappy despite their wealth are those that are consumed by money—finding happiness in what their wealth can afford them. Wealthy people aren’t really bad people, even our Lord Jesus Christ had wealthy friends like Nicodemus.

Being wealthy is important. We need peace of mind. We need to provide for our family. We need to have enough so we can share. For us to give, we need extra. For us to have extra, we must provide more than our needs. Having more than our needs is having wealth. Having wealth allows us to live the life we deserve, a victorious life that each one of us should be enjoying.

I sincerely doubt that God wanted us to live a life of hardship and a life of mediocrity. In fact, if you read Deuteronomy 15:4, it says, “However, there should be no poor among you, for in the land the Lord your God is giving you to possess as your inheritance, He will richly bless you.”

So what I am saying is, wealth is not bad. In fact, it is important. How we acquire our wealth and what we do with it will speak about our character—it will define who we really are.

How does one become wealthy? Well, that would be a nice topic for another day, but here’s some basic tips that I am sure you’ve heard or read already: spend less than what you earn; be disciplined in your money management; save – invest – save – invest; take risks (calculated ones)—and, most important, follow simple common sense in dealing with your finances.

There are a lot of folks out there who’d settle for a 2-percent per annum placement but will not think twice about buying something through his/her credit card and use the deferred option that charges five to eight times more than his/her savings placement—or worse, use the revolving scheme of his/her credit card that will be charging more than 15 times his/her placement’s yield! You can check out the other entries in this blog site for more tips on personal finance.

Be wealthy, but do it for the right reasons. If we have the resolve, many of us can be wealthy. All we need is the right attitude, the passion and, most important, the time. Did you know we are destined to be wealthy? Don’t doubt my words. Pick up the Book and read Jeremiah 29:11, which says, “For I know the plans I have for you,” declares the Lord. “Plans to prosper for you and not to harm you, plans to give you hope and a future.”

Enjoy your quest for wealth; it really is important if you your purpose is godly and noble… and we must also understand the other things that are likewise important.

Oh… most importantly, you should know where the real source of wealth really comes from.

In my many years in the financial services industry,  I have realized that there are really just 3 ways people attain wealth:

1) Inherit it – About 2% of the population stands to inherit something substantial from their parents. However, even to those who stand to inherit some fortune, consider this popular thought: the first generation creates the wealth, the second generation wastes the wealth and the third generation finishes the wealth. As for me, I think I stand to inherit some things from my father — his medical illnesses, hahaha!

2) Marry it – this is one of the oldest way to gain instant wealth. However, most of those who married for money ended up with miserable lives. Being rich but miserable isn’t really an appealing life isn’t it? I am truly happy with whom I married and will not exchange that for a billion bucks although I’m not sure if my wife feels the same… har, har!

3) Spend less than what you make and invest the difference – this is really the sure fire way of attaining wealth. Hard work, diligence and prudence. I work hard and I’d like to believe I am diligent. If I only know what prudence means, I am on my way. 😉

Lazy hands make for poverty, but diligent hands bring wealth.

– Proverbs 10:4, NIV