Most hard-working millennials today aspire to grow their savings and achieve financial independence, if only to prepare for a better future and to quickly realize their dreams such as building their early retirement fund, starting their own business, or simply buying their own house and other investments.
Avida Land recently held the Homepossible: Live Free! conference at the Grand Ballroom of Fairmont Hotel in Makati City to inspire millennials to take charge of their finances and achieve financial freedom.
Financial management wizard, published writer and thought leader Francis Kong made the seminar more meaningful as he shared valuable insights on how to develop the right perspective when it comes to savings as well as how to cultivate discipline and control cash flow, towards becoming debt-free.
“The way you spend your money, time and energy is reflective of the way you spend your life, and your future depends on how you manage these,” Kong said as he reminded the audience of mostly single millennials and young parents on the importance of keeping track of money, time and energy spent on everyday things. To help change their financial perspective, Kong challenged the participants to replace “spending” with “investing”.
Kong talked about the different concepts of money to provide the audience a deeper understanding of how to appreciate its value.
“Money is just an idea that represents a tool for exchange. When you exchange money for the things that you consume, those things represent value. Price is what you pay for, value is what you experience,” said the financial guru, illustrating another example closer to home.
“Our friends from Avida are offering different beautiful units, you pay for it and you experience it because of its value.”
Kong also warned about another nature of money that can become a hindrance to achieving financial freedom. “Mysteriously, expenses always rises up to the level of your income. Kung kelan lumalaki ngayon ‘yung kinikita mo, sumasabay naman ang expenses mo.”
The financial consultant also stressed the importance of developing discipline in managing finances.
“When we master the basics such as saving money and tracking our expenses, and we discipline ourselves, the moment when we are faced with emergencies and crises, we don’t have to bother with the financial basics anymore because it has become second nature. We only have to focus on coming up with creative financial solutions.”
During the conference co-presented by The Philippine Star, in partnership with Cinema1, Kong also shared a financial advice especially for those who want to make their dream homepossible. “Live within your means but improve your means by increasing your income.”
The financial guru also addressed concerns about having debts. “Not all debts are bad. There are also good debts (which you incur) when you buy something that increases in value.” Kong said these could include investments such as houses, lots and other properties.
As part of Avida’s Homepossible series, Homepossible: Live Free! conference gave participants a better understanding of how to take back control of their finances towards achieving financial independence, and how to finally make their dream homes a reality.
Watch out for details of upcoming Homepossible events from Avida.