FAIL: First Attempt in Learning

FAIL: First Attempt in Learning

My parents are known for being so hardworking. They work together to nurture our farm as a source of income while the rest of their harvest was sent to the public market.

They accumulated so much funds from this farm-to-market business. Later on, they decided to expand the business by getting a stall in Tanza Public Market. The business was so good at that time.

Actually they even afforded to buy a house in Tanza which they planned to be a rental home later on.
Years passed by, all of us their children needed to finance our studies. This was the time when my parents decided to borrow money from different financial institutions and even from “5-6”. In the end, they had to sell the house in Tanza and stall in Tanza Public Market to the bank with the belief that they could recover everything after we all graduate.

Two years before our youngest sibling was about to finish her college degree, Nanay got diagnosed with a critical illness. It happened to her not only once but thrice. These incidents buried us into debt.

After Nanay’s major operation, my parents have tried to rebuild the business in the comfort of our home. Since my mother is a good businesswoman she regained the business loss in just three years.

When everything was all settled, she thought of building a pension plan with support from the farmland. She just needed to borrow money for the start-up fund and helping hands. It worked for a year and the harvest was good.

Unfortunately, she got ill again. She failed to enjoy her pension which was used up for all her medication until she died.

I honor Nanay because when she FAILED to build her financial building blocks she tried to reconstruct it. This was her FIRST ATTEMPT IN LEARNING. She bought St. Peter Plan and asked us to open an account in financial institutions that can help grow our money.

We saw how she failed yet she only had limited time to apply what she has learned.

Hmmm, I think we should apply her learning now… while we are young, have time and healthy.

We need to protect ourselves first from any uncertainties in life such as disability, dreaded diseases, and death. Doing this, our wealth will be protected from any unforeseen major expenses.

After settling all the debts and building the emergency fund, that’s the proper time we can invest our excess money in good investments such as cooperatives, financial assets and other investment instruments.

As I always tell my father now, “Build your emergency fund before you invest your excess money. You are over 60 years old, you are no longer covered by health insurance”.

What about you?,
What have you learned from the experience of my parents?
Do you want to experience how to FAIL too?
It is your choice if you will follow their paradigm of building wealth or not.


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