May 24, 2009 2
Build Diverse Streams Of Income
The recent survey of Nielsen showed more Filipinos are now cutting back expenses and saving, in light of the uncertainty brought about by the crisis. Since we are known as nation of spenders, definitely, learning how to save is not a bad move.
But there is even a better approach to address the fear of uncertainty or fear of losing your job– that is to build other streams of income.
The fear of losing one’s job is a proof that a person is far from financial freedom. If we only rely in one source of income to support our needs, then we are not only in bondage, but we are also courting trouble. Most Filipinos were programmed or made to believe that there are only 2 ways to be financially independent, and these were (1) finish college then get a good job, or (2) leave your country and work abroad. This is not necessarily bad, but this kinda limit us and even make us more vulnerable to more abuse and challenges.
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