As said by many mentors, that in any endeavor you take on, always ask ‘WHY” doing this activity? Now in my end, I also asked in my inner self “why” to write this kind of topic?
On 05 October 2013, a friend of mine since law school, and an instrumental fellow who mentored on me in applying in real life the law school instructions, hence doing
ParaLegal works. The friend visited me in to our rented house; thereby we have a sort of discussion about ASSET. I am passionate to tell him that he has enough asset stored in his very self. Yet he refused to accept, and it seemed that definition asset is one of the subject matter of the commerce of man.
The discussion intensely moved into a sort of reflection-recollection @ “Reminisced the Lull Moments of His Life”. Yet, never did I bother to listen on his dramatic justification instead I continued on my own definition of Asset, hence this digital piece, my contribution to the
Digital Citizen.
Getting to know the Ultimate Concepts of Asset
Assets are what you utilize in order to start empowering yourself financially. These assets include monetary as well as monetary resources. Most people only consider monetary assets when they speak about assets. They consider things like their bank balance, their real or personal properties, their cars, their stocks, etc. as assets. However, there is much more to assets than just these materialistic things while sojourning in a materialistic environment.
The term asset is associated with things only rich people can possessed. And the same is significant question to those whose financial balance sheet is likened to a roller coaster to include. But in my definition of asset is far-off different from the materialistic stand and view points of the term.
Here we take a look at assets other than the usual material one.
Goodwill; your good name in the market or in the community is a veritable asset. It could be your name or your Facebook Fanpage, your brand, etc. Whatever goodwill your name has accumulated, you could certainly use it in improving your profits, and hence it becomes an asset.
For instance, if you launch a new product with the same name of your previous successful product, it already gets a lot of foundation to succeed. That is the reason big name companies sell their goodwill when they give out franchises.
Then on, I further discussed, and tackled the visual topic which was then the Qualifications, Eligibility and Experiences of my friend. I made mentioned that everything that he do in his life is an asset in itself. These are things he can tap on in order to empower himself in a better manner.
And I also vigorously made mentioned that his family, friends and other people are the line of assets that should be treasured, and not only the materialistic asset as professed by the majority. This is in conjunction with the adage that the majority are always wrong.
Everyone that you come in contact with is a potential asset for you. You are what your family makes you, and that decides your capabilities to a large extent. Also, your friends make you and so do other people that you come in contact with. People are so important to businesses today that there are complete business models that are set up on this concept.
As we continued on our interesting discussion, my friend after sipping the 3n1 coffee with slices of “hot cake” kiddingly offered by my 4 year old son, then on my friend innocently asked "
Jay What Has To Be Done"?
So I told him that in my end I have no other formula to follow except the one, which was avidly told by my mentors, and that is
Investing in Financial Education for Your Financial Empowerment.
What? a voice so loud coupled with laughing smack, which occurrence caught the naive attention of my son who then playing with his
Ben Ten Gadget. That was then the immediate utterance I heard from my friend, which followed by statement like this: “you mean to say I have to go back to school and get degree on financial education or the like modules”? Oh my God! Remember that Jay Tan that I am 48 years old, “Mataas na ang niyog eh…
Well, I let him uttered the nuggets expressions he want to express with an understanding that in the little while he will regain his composure. And so I further narrate and share the inputs I have had, which direct result from investment of knowledge.
With the situation at hand, I frontally shared the focal voice of my information about financial empowerment begins much sooner than he you think. I openly told my friend that we are no longer in our 20’s, and thinking about a career; it is right then when we were in kindergarten like my son, and attend our first school.
The truth of the matter being that your financial empowerment begins even before your parents lovingly and patiently tell you what is what. All those questions, all those attempts at gathering information and, later, education, are nothing but steps toward financially empowering yourself, thus to mold your ASSET.
I can’t hold my emotion except to throw a query to my friend such that “for what is education if not a way to empower yourself in every way, including financially?
Majority of the people thump up their educational qualifications when they are looking for a job, pitching for a promotion, and sometimes executing highly unlikely maneuvering just for the purpose of getting the same or even when applying for a loan for a commercial venture.
Obviously, the educational qualification is a kind of abstract collateral; it is something people judge your financial worth. And so if you are better qualified they know that you will keep sailing through, hence, they don’t mind extending a better financial help/loan for your ventures. They don’t mind investing in your ventures either because they consider you as a worthy candidate with their money.
It is of imperative necessity to learn something new, which can give an enhancement to your Asset.
That is the reason why you and I have to learn as much as possible. Thus, resonating with the seeming pronouncement after becoming the President of the United States, one of the first things Barack Obama did was to give an urgent call to his people to “go back to school. This does not really mean physically going back to school, but it means continuing to learn something or the other as we did when we were younger.
Bringing back your memory some 40 years or so, why forty years? Because my friend is 48 years old now, and going backward he was then eight years old, when we has was then at primary school, he would learn a new things each day.
I asked him like this“are you doing that right now? Did you remember that at law school, we enriched our minds each day and became what we are today? (we both connected in one of the law firm here in our place, doing
ParaLegal works).
But why has this process of becoming stopped for you? Why do you think that your learning age has ceased? I told him, he needs to educate himself continuously, and not only convoluted laws and jurisprudence but acquiring knowledge on financial literacy till the last day of his life and keep improving.
In a brotherly mode, I sincerely told him that when we are more educated on financial aspect of the craft, we not only learn better avenues to earn money but we also learn how to manage the money properly so that it keeps growing. That I further told him know the crafts of how money works for you. Simply put, no form of education should be intimidating and there is no age when you cannot begin learning something.
We ended up because it’s about time to go home yet he told me “he wants more discussion on matters affecting financial vis-à-vis his future retirement”. He is so very fast to think to embark on his financial education, maybe natamaan siya at ako din sa mga sinabi ko…kaya nga I asked him that I will make some sort of a journal of what was transpired-discussion, and the same be published in the world wild web. And so I got his approval whereupon he is the action star.
So the story is not yet ended, however, I have to cut it otherwise some readers won’t like to continue reading…. Next episode will be more exciting… you know Why? Because I have to share the
Six (6) Steps to Financial Security and I will let him define his own Financial Blueprint…wow! Oks ba? Ano sa palagay mo mukhang matindi ito diba?
Surely, some of you will inquire on where did I get or my source of information all about the aforementioned topics? You know in my previous work, tinatago po namin ang aming Source, however, in this time having information of such value I am most willing to share only to those who are interested to know…
For Your Success!
Jay Maghuyop Tan
P.S. I just want to impart that your very self as your Asset added with your Financial Intelligence are focal armaments to plot the escape route from the mental attitude of scarcity vis-a-vis rat race.
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