Personal Development, Finance, and Investing For Filipinos
An investment in knowledge always pays the best interest. Financial Education is your best investment.
Is It Wrong To Be "Kuripot"
"Ano ba yan, ang kuripot mo namang tao!"
Have you ever been invited to go out on a food trip with your friends or officemates but you had to say no because at that moment it was not in your budget? And then you get the response, "Ang KJ (kill joy) mo naman, kaka-sweldo lang naman natin eh." This is not new for us.
In the Philippines, being "kuripot" connotes negative attitude towards spending money. But is being kuripot really bad? The reality, it depends on who you ask.
Frugal, Frugal, Frugal.
So what’s frugality? Webster's defines "frugal" as "behavior characterized by or reflecting economy in the use of resources." Common synonyms include thriftiness. In Filipino it is kuripot.
The opposite of frugal is wasteful. We define wasteful as a lifestyle marked by lavish spending and hyper-consumption.
Being frugal is the cornerstone of wealth-building. According to the book, The Millionaire Next Door by Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D. Most Americans became millionaires by budgeting and controlling expenses, and they maintain their affluent status the same way.
Financially independent people are happier
Financially independent people seem to be better able to visualize the future benefits of defining their goals.
One earns to spend.
Frugality is way different than being stingy. As such, kuripot individuals are practical and have a goal in mind. They just don’t squander their money with just about anything. The Bible says something about stinginess, not the same as thrift.
24 One person gives freely, yet gains even more;
Let Me Change Your Perspective
Being Kuripot or frugality is a different mindset. Individuals who are thrifty as previously stated have a goal when it comes to their money. I am a frugal person. I know where to put my money and how to use it. How about you?
Pay Yourself First
One of the key principals of personal finance is "pay yourself first."
"Pay yourself first" doesn't refer to how you earn money, contrary to what the phrase implies. It refers to how to save money.
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.