Posts Tagged ‘best money advice ever’

As early as I could remember, I knew that making money was already hard coded into my DNA. Allow me to share a few vivid childhood memories with you then afterwards, give you the most important advice that I will ever give.

Let me first bring you back to 1977. My mom and I were house-sitting for my Godparents for a couple of days while they were away on vacation with my cousins. I had just turned 5 years old and as a gift I was given a shiny, second hand instamatic camera with a free roll of film, 24 shots as I recall. “What to do with it?” I remember saying to myself. So I went around the house looking for things to take pictures of.

I did not have to look far because the moment the household helpers saw my shiny new camera, they started offering to pose for me to take their photos. With no hesitation, I counter offered to take their pictures for 1 Peso a click. They agreed. Kaching! I was in business and all I had to do was push a button. 24 pesos in 1977! Not bad for a 5 year old kid. (Of course my mom had to shoulder the expenses of actually developing the film. Thanks Mom!)

Then when I was in grade school, I started a small sideline racket by selling bubble gum scratch cards (made by Fleer, it was a set of 3 PACMAN scratch cards with free bubble gum) to my classmates for 12 pesos while my cost was 9 pesos (a 33% mark-up). At that time, my classmates went crazy for the stuff but were too lazy to go and buy it themselves. I saw an opportunity and took it. Every dismissal time, I would go to Shoppesville in Green hills to get the stuff, bring it to school the next day and do it over and over again. I made a killing and I was only 10 years old.

As I moved on to high-school, I entered yet another money making venture as a sketch artist that designed t-shirts for school events –Yes, I was pretty good in drawing back then. In one project, my seatmate made a deal with me. There is an upcoming school dance he said, I’ll come up with the money to finance producing of t-shirts for the dance but you design the logo and the artwork. I’ll give you 30% of the profits if we make money. but if we don’t make money then that’s my problem. I looked at him and said: I can have your drawing by tomorrow; it was a no-brainer deal.

By the end of the day, we had sold all the shirts. I netted P5,000 (Equivalent to P15000 today). I made money yet again, this time no capital needed from me.

Then, when I graduated from College, I decided to try the corporate life. Within a few weeks, I found a high paying job, eventually got hired by a bigger transnational company and then again by an even bigger multinational company all in a span of a few short years. My salary at this point was staggering. I started to change my lifestyle, bought anything I wanted on a whim justifying it by saying, well I deserve it anyway. Life was good. At least that’s what I thought.

You see for all the money that I would earn, I would spend it all on useless stuff because I thought that I could always make more of it anyway. In fact, I became so careless about it that my credit cards were always used up and for some reason would never be paid off.

I needed help but I didn’t know how or even where to start until I met my wife Jhoanna. The day I met her, was the day I became a true success.

She became my greatest inspiration. If you remember the movie of Jack Nicholson “As good as it gets” there is a line there that truly captures what I felt for her back then until now: “…You make me want to be a better man.”

How can I get married to Jhoanna, when I’m neck deep in debt and careless about money I asked. Well, I think Jhoanna overheard me because she seconded the motion.

So with a lot of “Tough Love”, she made it a priority to help me get out of debt, by teaching and helping me create a money management system to follow. Every Month I had to put in a big chunk of my earnings into a special bank account that we set up which I could never ever touch. She would use that to pay off my credit card debts first, then the rest would be for our wedding fund. It took us a little over 3 years to fully pay off my debts and get back on track but if it wasn’t for my wife, I would never be who I am today.

Today, I lead a group of companies that are 100% debt free and profitable.  I am a successful businessman, forex trader and trainer. So my best advice ever for you in Money is this:

“All of your success in making money will mean nothing if you do not know how to manage your money properly. If you do not know how to manage your money get help from someone who does, better if it is your spouse.”

Thank you Jhoanna, because of you, I am and continue to strive to be a better man.

Author Box:

Mark So is the CEO of Businessmaker Academy.  He is also the Chief Forex Trainer of Forex Club Manila, as well as CFO of Teach It Forward, a non-profit organization for community livelihood. Together with his wife and partner, their main goal in life is to help others improve their lives personally, professionally and financially.  For more information about the products and seminars they offer, please call 6874445, 6874645 or 6873416 or visit www.businessmaker-academy.com.  You may also email him at markso@zerocapitalclub.com.