Friday, October 22, 2010

Confessions of a Shopaholic

When I decided to start blogging on personal finance, investing and business (which are my interests and passion by the way, as more than being a Certified Public Accountant by profession, I am actually an entrepreneur at heart), I was thrilled by the fact that somehow…I was like Becky Bloomwood! Do you know her? She is the famous character of Sophie Kinsella’s Shopaholic series. Becky is a financial journalist who, ironically, cannot manage her own finances. It’s not because I cannot manage my own finances but because, I feel like I was reinventing myself and I am now a certified financial e-journalist?! Wow!

Kidding aside, more than the hype that it gives me of making myself a brand new financial blogger, I am actually thrilled of reaching out to as many people as I can to give enlightenment, as much as I can, when it comes to dealing with their own finances. I am not an expert, not yet, but one doesn’t have to be an expert first before imparting knowledge to someone. You just got to have a little knowledge and a big heart to share what you know that would benefit someone. Do you agree?

Let me start my blog having Becky Bloomwood of Shopaholic series as my topic. Is there a lady in the world who cannot relate to this novel/movie’s heroine? Well, yeah…probably there are a few, but I bet, there is a lot who do. Okay, I’ll be the first to confess, just like Becky, there was a very very short time  in my life that I was also into shoes, clothes, shopping….I guess it is but natural for us that when we start to earn a bit more than we need, we tend to reward ourselves, instant gratification! I was just so thankful that I was in control. After a few months of shopping galore, I told myself, ooopppss….this is enough, I already had fun, I treated myself much already…now it’s time to build my wealth. I praise God for giving me that kind of mindset, that I know when is enough. However, the sad part is that, not everybody else thinks the same way.

How can we help someone who has the same dilemma as Becky Bloomwood? By the way, she is actually now Becky Brandon as she is already married to his multi-millionaire husband Luke. Should we advise them to marry a multi-millionaire too to solve their financial problems? This is the easiest way to become a millionaire right? The answer is NO. Marrying a millionaire will not solve someone’s financial problems. In fact, you would only drag another person into the problem. The answer is to change your lifestyle and live within your means. If, on the other hand, you want to keep the lifestyle that you currently have, then, increase your cashflow! Find some ways where you could increase your earnings so you may afford the lifestyle that you want.

This, my friends, INCREASING YOUR CASHFLOW, is the first step of building the right financial foundation.