Lost and Found – You are here!

by Keng dela Cruz

My ultimate winnings of yesterday? 2 things.
1. I started the day waking up beside my mom and dad; had a FULL good night sleep on THIER bed. NOT a usual thing for a 30+ lady with a family and kid of her own (hehehe).
2. I ended the day talking to a friend, solving her financial distress over credit card and budgeting issues. We were so blessed to have finalized her exit strategy from her debts and financial issues, and now looking forward to see what comes after.

And because I had so much blessings (if you know me by now), you know that means MORE TIPS for sharing!!! Kaya today, I wish to share with you a very basic GROUNDWORK if you want to fix your financial situation.

When you have a car and would want to go to a place unfamiliar to you, what will you do? (hehe, for the directionally-challenged people like me, I suggest) Go to waze, type your desired destination and NAVIGATE. But this will only work IF… you have TURNED ON your “location services”. This will show you 3 things.

  2. Which way to go.
  3. Your desired destination.

Same thing when you get lost in a mall; go to the maps of the mall directory. After checking what specific place you want to be, check your exact location showed as “YOU ARE HERE” markings.

Needless to say, it is important for us to know WHERE WE ARE to know where to start. This is also true in finances (and goals in life as well). If you don’t know, and wont give yourself the time to know where you stand, chances are it will be a DIFFICULT journey for you.

So the questioning begins, know 3 things.
What are your Assets, Liabilities and Net Worth?
(Big words? Accounting? Math? Kebs? WAPAKELS?)

Sorry to break it to you friends, these are the language of the financially literate people. If you want to get ahead financially, no other way but to know these terms. Don’t worry, I will try my best to explain in the grade 5 level, since my son is in Grade 5.

  1. Asset – something that PUTS money in your pocket
    In tagalog — DAGDAG PERA SA BULSA.
    (Thank you RK for making this SO EASY to understand!)

  2. Liabilities – something that TAKES AWAY money from your pocket.
    In tagalog — BAWAS PERA SA BULSA.

  3. Net Worth – Assets MINUS Liabilities (real measure of wealth)
    In tagalog — DAGDAG BAWAS, hahahaha!

Its so simple right? Go ahead, open your excel files and start breaking down your assets and liabilities then check what is left on your NET WORTH.

After all, ever since we were kids, our teachers always taught us that the FIRST step to SCIENTIFICALLY solve the problem is???

STATE THE PROBLEM – Because a problem can’t be solved if it isn’t understood.

Have a wonderful Morning to everyone!
Let the blessings pour down to you after ACCEPTING the reality and TAKING ACTION take hold of your life!



you are here



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