This FF is about the dream of ordinary people, those working in 8-12 hour shifts, those whose aspiration is to give their families good lives at the same time, spend more time with them.
Yes, I am talking about Financial Freedom. Read more…
Every time I listen or read the news form the mainstream media, specially on the aspect of the economy, it’s as if doomsday is at hand. I’m certain the folks behind mainstream media exert considerable effort to balance their story, but the impression it creates, at least on me, is still negative.
Last Wednesday, a colleague and myself attended a gathering of entrepreneurs and top executives to learn the best business practices during hard times. Part of the discussion is the Philippine economic outlook for 09. While it is true that we are affected, and corruption is rampant, it is not that bad after all. We are better off than our neighbors and the Philippine economy is still expected to grow together with China and India. If my understanding is correct, our economy is not dependent on exports, like Hong Kong and Singapore, and we consume 60-70% of our produce. Add to these, are the remittances from OFW’s.
Debt is a powerful force to contend with.
During abundance, entrepreneurs take the liberty to borrow to expand or start a business. New couples on the other hand will borrow from banks to buy houses and cars. Still others, use credit cards to purchase appliances, jewelries, lap top and alike, on top of using the plastic for their daily requirements to live.
This is not necessarily illegal or immoral, however, when economic and financial crisis hit, like what the world is experiencing now, people will realize how hard it is to be in debt.
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