Friday, September 30, 2016

An Employee's Story about Financial Debt!!!



I've worked, for almost 15 yrs in a Goverment Agency, when everything flies. I've watched and observed, how money was kept, used for CAPEX and other bidding purposes for certain aircraft runway projects, aircraft operations and even office supplies. 

Money was used properly with accordance with right implementation of policies and regulations. There are certain money allocation for future projects and neccessities. However, that's how internal audit and budget expenses works within a particular divisions. But, if you really observed the people working behind those offices. All the employees, who had been working for decades, you can observed their routine  during salary days. I've seen how loan movements are active during pay-outs. The question is, Do they really have such money allocation for their financial expenses or are they relying to financial debt/salary loan or even personal loan just to make it for everyday living.


For second time, with Aya Laraya financial talks, he was able to discussed about financial debt. That's why I remember those people, I've worked with,my past experiences of having various loans and my journey of financial liabilities.

To tell you honestly, during those years, I've been influence, with people around me who has so many loans, left to right. 
Some say, if an employee works at the Airport, they are big time. But, people just didn't know. Its only heresay, none of those are true. Maybe some employees are, already had a golden spoon at their birth but most of us are just simple employees, waiting for the 15th or 30th day for our salary to come. To feed for our family or even to pay for our boarding house. Life is quite difficult especially, if you stayed long hours for your shift. We need to take extra hours for overtime because our basic is so little. Thats the main reason, most of us, apply for SSS, PAG-IBIG or Agency Loans. Sometimes, even personal loan. If we already used the other loans for kid's education or celebrations. Thats, how simple and average employees get there money from and how we spend it for. 

Indeed, Mr. Laraya explains the differences of Good and Bad Debt.  It's clear in my mind, that's a big example of Bad Debt because you applied for another loan just to pay for a recent personal loan or vice versa. Some reasons, their applying for a loan is just to celebrate their child's birthday, family out of town extravaganza or they spend it for fiesta. But, its been the way of life of some employees due to lifestyle, it forms a habit. Actually, a bad habit, a bad debt that needs to be corrected. 


To give you a clear idea about debt and the things,I've learned about the talk. When, you say Debt in simple words, its a form of money you borrowed to someone, it might be to a big lending company , a govt agency, a bank or even to a personal friend. 

There are 2 Types of Debt: 

1) Good Debt, it pertains to a particular loan that had been used as a good source of income and revenue. You invested it to a business, wherein you gain profit, eventually. Good Debt turns into Pot of Gold. 

2)However,Bad Debt entails a particular loan of money which had been use to uplift one's ego, meaning you buy things for the sake of satisfying your hunger for new things like, new clothes, gadgets etc. 

Also, you can say, you have bad debt if you applied for a loan for health emergency purposes. But, based on my opinion, even its a bad debt. If your family is in need, even,if you have loads of loans at your back. Filipino will always choose to borrow one's money in order to save another life. Thats how being resilient Filipino's are. In terms of diificulties, for family's sake, there's always a way to produce money in our hands.
However, that's what happen to me. I don't have any savings and I have lots of  loans. It's because ,i'm one of the hundred daughters, who helped and has been a bread winner for their Family. I realized thru this Seminar, I have a bad debt all this time. But, I never regret because during those times. I were able to buy medicines for my mom and food for our table. I bought some wonderful gifts for christmas that makes my mom smile and my family cherished it. Until, the last breathe of my mom, I know,  she's happy. I gave my best to support them with all my capacity and strength. 


Now, little by little, I'm learning how financial independence boosts your confidence. This time, if i'll be able to find a full time Job. I'll know how to managed my financials, with some inspirations of Mr. Aya Laraya. I know, this coming years. I'll say, I'll be having my complete financial freedom & sustainability. 

I believe with Sunlife,i'll be having 
A brighter future..
A Money For Life......
with Sunlife FinancialšŸ˜Š

Something to ponder on:

The best way to prevent financial debt is to cut out everything that ruins your financial capabilities except your basic necessities. 

Visit Sun Life Financial Website for more details: 

Thank you for reading my blog about financial debt!!!

Kindly, follow my Social Media Accounts: FB Page:

Google+: +Seraphim Lavander 

Instagram: