Before Learning HOW to Save, Learn HOW to Earn

As Filipino’s, thriftiness has been engraved in our system. Upon reaching pre-school age, our parents, aunts and teachers have reminded us to save-save-save money, carving a little “save money” signage in our head that lights up the moment our little hands touched paper money. It has been a pre-requisite core value for every child in the Philippines to have.

Yes, saving is great. It’s a great tool we could use to help us in our fight to debt freedom. There’s just one flaw that needs to be corrected in order to maximize the benefit of saving. As what the title says, our children should first learn how to earn, before they are taught how to save. It’s this process that needs to be practiced not the other way around. This process is a controversial one, I still remember from way back, hearing a teacher of mine say, corruption starts at home; those parents that promises to reward their children for every chore they accomplish is instilling a pay-me-first mentality, the mentality of the corrupt. Children won’t do chores & errands, unless they would be rewarded, they grow up to adults that won’t move unless they are paid.

She has a point, but sadly, a wrong one. Corruption isn’t defined as having that kind of mentality. You are not corrupt when you think of asking for a price in return for a service. You are, as I’m glad to say, an entrepreneur! That mentality is a crucial element that moves commerce. Without it, our society would succumb to an era of charity; each and all of us would end up merely giving donations, offering our services to one another, expecting nothing in return. Imagine, that would truly be an interesting society-a society found in the minds of wishful thinkers and fairytale authors.

We need an overhaul. If this practice continues, the next generation of Filipino’s would end up more like the present ones. Although, our present generation may have achieved great things, it is still a hard-boiled fact that, in terms of finance, majority of us, almost 80% are still living within or barely above the poverty line. It has been 23 years since I was born and nothing has change, I don’t have the patience to wait for another 23 years for that change to come. I know change is difficult, it is painful to say the least, but it is needed.

Teach the kids how to earn, before educating them how to save. Common sense would dictate that earning goes before saving. How can you save if you don’t have money? Wait for alms? Ask for dole-outs?

How do you earn money? You work for it! Although, I am a firm believer that we should make our money work for us, this concept is only applicable if we, you and I already have the money-the capital. You can’t start a sustainable business out of thin air. You can do a Ponzi scheme but how long do you think that would last?

A good way for our kids to learn how to earn money is for us to teach & encourage them to be entrepreneurs; socially-responsible, morally-upright, God-fearing entrepreneurs.  Let us be the spark that would ignite their little eager minds to go into business-any kind of business. If you may observe, most of the time, business-people enjoy more financial freedom than employee-people. Do you know someone who became rich out of employment? If you do-then please, by all means congratulate them! They’re a rare breed.

I am promoting business as a source of income, but I am not eliminating the option of being employed. With our help, our kids could have a lemonade stand and act as the sales manager or they could paint the fence and be the on-hand helper. Whatever method you use, as long as they are having fun & they learn the importance of earning first before saving, then, in your own little way, you are building the foundation of a great future for your child and slowly creating change for our present time.