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Very few of us (less than 2% of Filipinos) are born into wealth. Most of us will have to work and engage in some form of business or practice of a profession to make a living. Most of us will need to go through some form of learning (whether formal or informal education) to be able to earn some form of income. In today’s world, women are expected to work as hard as the men, whether they are single or married. All of us depend our ability and intellectual capital to produce the economic resources so that we can live a fulfilled and happy life with our loved ones and the community around us.

Unfortunately, a majority of income earners view working as a necessity and as the only means to earn money. And earning money is simply a means to be able to spend for their needs and wants now. They earn so they can spend. If they manage to save, it is because they want to temporarily accumulate a certain amount to buy something they want RIGHT AWAY, perhaps a new model of a cell phone, a brand new TV, fancy jewelry, a new fad, etc.

The cause of this kind of financial behavior is really short sightedness driven by the desire for instant gratification. Everything has to result in an immediate gain. This is what is called a lifestyle mindset and this has to be overcome and turned around into an abundance mindset.

FRANCISCO J. COLAYCO is an entrepreneur, a venture developer and financial advisor. He has over 40 years of experience that covers service contracting in the Middle East, manufacturing, trading construction, shipbuilding, management consulting, banking and financial services. He is the Chairman of the Colayco Foundation for Education (CFE) and the author of bestsellers: Wealth Within Your Reach (2004 National Book Award for Business and Economics), Making Your Money Work (Nominated in 2005, National Book Awards Business and Economics), Pera Palaguin Workbook and Money for Kids. The books are available at National Bookstore, most other bookstores or directly from CFE. He joins our website blog to share with ordinary income earners, Overseas Filipino Workers (OFW) and students the simple principles to "Save what you earn and grow what you save." CFE conducts talks, seminars, and workshops. “Managing Personal Finances For The Future” a seminar-workshop developed in partnership with the Ateneo Graduate School of Business, Center for Continuing Education. June 21, 2008, Saturday, 9:00 am to 6:00 pm. For registration and inquiries, please call Marleth Calanog at 830-2050. CFE is also the producer of the PISObilities DVD series, available at your favorite audio-video shops in May 2008. Learn more about the advocacy at www.colaycofoundation.com, email info@colaycofoundation.com, via SMS +63917-8537333 or through (632)637-3741.