12 Most Common Excuses All-year-round (January to December) What to say if a financial advisor is around?

12 Excuses 500pxAre you hiding from your friend from Manulife, Philam Life, Sun Life, Insular life, etc..?  Are you being approached by these people quite regularly? Are you getting irritated and running out of excuses? 

You need to read this.

I have gathered the most common excuses for all time and reading this will save you from further using your Gray Matter, in layman’s term, “brain.”

The Calendar of Excuses!

January:  Naku it’s after Christmas season, you know, I had so many expenses last month, I even have debts on the credit cards.  Let me have a breather and pay them first. Then  I will call you after I have finished paying all my outstanding dues“

Febuary:   “It’s Valentines season, my husband and I are planning to go to Singapore for our second honeymoon, maybe next time.  I’m really, really excited!  I hope you understand!”

March:  “Mare,I have to pay the remaining tuition fee so that my child can take the test and graduate in Grade School.  Malapit na sya matapos, promise pagtapos nya!”

April: “it’s summer!  The whole family is planning to go to Boracay for a 5 days vacation.  It’s our most awaited trip of the year!”

May: “Enrollment time. You must understand how expensive it is to have 3 kids in school.”

June:   “We have to buy so many things for the kids.  Bags, books, notebooks, pens, pencils and lunch.”

July: “Naku, our house was flooded twice this month, we need to replace the sofa.”

August:  “Ghost Month. They say it’s bad luck to invest this month.”

September: “I always wanted an SLR camera, sale sya sa mall, sayang naman.  We are buying it this month.”

October: “Sembreak! We are going to Batangas for a beach with the kids and the whole family. Wanna join us?”

November: “Enrollment time again for my kids.  Next month, I will have extra money because of the 13th month pay!”

December:  “Christmas time and New Year time.  Alam mo na!”

There you go!  Well, possibly, some of the excuses above might be logical and true, but my point here is, you will never run out of excuses.  You can always procrastinate.  Filipinos are fond of that.  “Bukas na lang! Tsaka na!  If madagdagan sweldo ko.”

 

There could only be ONE problem, PROCRASTINATION could be very expensive.  Take a look at the graph below.

procrastinatecost

The graph above shows saving of only 40,000 a year or 3,333 a month or 111 pesos a day or one Starbucks brewed coffee a day. 

If you  delay for a year and used the excuses above, and a difference of 40,000 extra investments it will cost you almost 700,000 pesos.  After 4 years of procrastination (difference of only 160,000) can cost you 2.4 M.

Still not convinced? Let me do it every 10 years of excuses:

 procrastinatecost10y

The difference between saving at 25 and at 35 is 12.2 M pesos.

Always remember, you will never ever run out of excuses.  At the end of the day, it will be YOUR future that we are talking about NOT your financial advisor’s future.  She is even doing you a favor in educating you.  How many times I have heard, “sana dati ko pa nalaman to.” (how I wish this was told to me earlier).

Saving and investing is a decision.  There will be many excuses you can come up with your own, but once you will be firm in your decision, no measure of excuse is worthy enough to endanger your future.  So you decide and act now.

Maybe it’s time to listen to what your financial advisor has to say.

Start your financial literacy journey right by reading: How to Prioritize your Finances: The Financial pyramid.  Start preparing for your retirement now!

Let me help you with your financial goals now.  Contact me here.  It’s time to act!

12 Excuses quote

your dreams should be bigger than your excuses,

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To all Financial Advisers out there or those who wanted to be one:

I invite you to level up your financial advisory career!  Get this Ebook for FREE! Click Here.

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Doc Pinky is a licensed Medical Physician, Internationally Registered Financial Consultant, Certified Investment Solicitor and Associate Wealth Planner and Estate Planner of the Philippines. She loves to educate and spread financial literacy. She is a Lactation Consultant. She loves to travel. She is a devoted wife and mother.

24 thoughts on “12 Most Common Excuses All-year-round (January to December) What to say if a financial advisor is around?

  1. SecretWeapon Mangidalan

    Great analysis. I will use it to help my friends be financially stable also and especially for me. 🙂 I like this page

  2. Romeo Fernandez

    I am 55 years old and I want to retire at age 62. I am currently an OFW working in Dubai. Could you please advise me as to how much I need to invest annually to have at least something to rely on financially when I retired?

    Appreciate your advises.

    Thank you and regards,

    Romeo

  3. Chippy

    Good for us Doc Pinks, we work in the financial industry so alam na natin ito, that’s why we act as early as possible. What about those who have no clue? Such a great article to kick start making that decision to start investing.

  4. EDMUND CONCEPCION

    Can i repost it in Facebook ? tia

  5. Kenji

    Hi! how do you calculate the amount invested? 🙂

    • amount invested: amount invested for a year (amount you want to invest Times # of years you want to invest). e.g. 40,000 x 10 = 400,000.

  6. Kenji dolera

    Im confused as to how you were able to compute amount invested at age 65? errr…my previous post was deleted.

    • hi kenji, you can be able to get it by using the FUTURE VALUE formula using 10% rate. You can use the Excel to do it. 🙂

  7. Kenji dolera

    I was able to search online on how to calculate the amount invested through compound interest. Thank you, but how do I get these kind of amount invested? Is this through the insurance you are offering? or from a policy? Thank you for replying.

  8. Leiah Adviento

    gusto ko po mag invest kaya lang nakakatakot po sa mga philam life and other insurance… before po nag invest ako ng educational plan, only to find out magsasara ang CAP, nawala lahat… san po ba maganda mag invest

  9. Jun Castro

    hi doctor Pinky,

    I find most of your posts interesting specially this one. i just want to ask the following:

    1. Which among the financial institution has the strongest foundation? I mean, I don’t want to invest in a company like CAP which in the end, It went bankrupt and left all investors hanging..

    2.) Are these institution still reliable, lets say after 30 years? Reliable means that I can benefit fully after the maturity of my investments…

    2. Do they have always an annual rate of 10%? and are they compounded annually?

    Thanks and please post some more retirement techniques.
    More power..I will post this on my FB..

  10. jing

    Great table. I have never seen the cost of procrastinatiin quantified as clearly as this post! I want to cry for my 10 years’ procrastination…

  11. Rutchel

    Hello Doc Pinky, I was astounded by the figures, the power of compound interest indeed. But mostly amused by the monthly excuses! Sapul ako. =)
    My husband and I are both OFW and the reluctance to invest comes from the fact that we are not “physically” there to manage these investments. Sadly there are horror stories where family members failed to remit/pay as instructed. How should we handle our retirement? We are both 37 by the way, with a 2 year old.
    Thank you.

    • Hi Rutchel,

      I sent you a PM in your email. I hope you open it. Better kasi if we talk privately for your protection. Will wait your reply on email. If you don’t receive it, you can email me: myfinancemd@gmail.com

  12. Sheryl

    Hi doc, can I use your sample table and post it in facebook? Thanks!

  13. Frances

    Hi po doc pinky, i stumbled upon your post and since then i’ve been visiting your blog in over a week. You’ve given a very outstanding information about finances and i couldn’t be more grateful. I’m 16yrs. old and i’ve come out of my shell to ask you for guidance about insurance and investing. I know im young but im serious about this. And i guess the saying that im too young to start thinking about my future doesnt apply to me. I hope you can help me in this regard.
    Thank you and God Bless! 😀

    • hi frances,
      Thank you for your letter. I am happy for you since you are so young. you are one of my youngest that seek a consult. I have an email for you, so that we can communicate privately. email me: myfinancemd@gmail.com

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