“Before we began to understand the disease, the weather, and things like that, we sought false explanations for them. Now science has filled in some of the realm – not all – that religion used to fill.”- Bill Gates
Is religion still relevant to the financial success of the modern Filipino? The concept of religion allowed our forefathers to pursue well-meaning lives. This allowed them to assess how well they were living life in accordance with the will of an all-mighty being’s standards. This was so they could achieve the ultimate goal of going to heaven. We are either virtuous or sinful and the latter allowed us to explain our suffering and justified the feeling of being punished by God. If we’ve made mistakes and have fallen out his good graces we then become labeled accordingly. The Roman Catholic church warns us of the seven deadly sins Pride, Gluttony, Lust, Greed, Envy, Wrath, and Sloth because in pursuing these types of behavior, a person was sure to be on God’s “naughty list”. An analogy we can make to being sinful, and going to the bad place is being irresponsible with our finances thus being broke, in debt, or financially insecure.
At a time of increased need for objectivity and rationality, seemingly arbitrary moral codes on how one should live their life bring with it a lot to consider. Some may argue that the modern Filipino can still be considered a well-guided individual once he understands his place amongst the current controversies on social media, the political and economic climate, and his biases on how he takes control of his finances. This is an expected result of a person’s meditation and self-awareness, a popular subject on several self-help mediums. Awareness of these 7 sins could be considered throughout the financial decision-making process as one identifies their tendency for greed, envy, and lust which may manifest itself as “keeping up with the joneses” or “spending beyond one’s means”. If you’re prideful and a sloth, you may have chosen to ignore mistakes and problems because they were either difficult or not aligned with your biases even when changing your behavior could lead to a better outcome.
It is the manifestation of these behaviors that will slow you down and increase the impact of potential risks to your financial well-being. This is to say, aside from the divine grace of a higher being you have a choice to take control and keep yourself on your journey to financial success. Wise men say that you choose your battles and it’s advisable to fight within your weight, these your demons. For money is a means to an end, one does not hoard money for the sake of hoarding but to be able to use it for things that bring them the most satisfaction at the end of the day.
However, most people tend to have a hard time thinking about what would make them happiest in the long-term. So most tend to seek short term gratification, which rarely ever translates to something meaningful. What could develop into long-term satisfaction can possibly go back to what you believe you should be doing with your time, energy, and money. However, with all these distractions and noise, it may become difficult to know where your resources are best spent because it requires certain objective knowledge and time to objectively assess your lifestyle and what’s possible. Not being able to really know what’s best for you a daunting problem may be, so we may seek to not do it alone. Establishing a holistic financial plan, you may consult with a Registered Financial Consultant (RFC) to properly assess your goals and strategies.
Disclaimer: Just a reminder, dear reader, that the content in this column is my opinion only and should not be construed as investment advice because I am not your financial adviser, neither did I take into consideration your personal objectives, financial situation, needs or circumstances as your fiduciary. This column is mainly for your entertainment and education only.
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