Change your money habits-know where your money goes

by Bo Sanchez from Kerygma magazine February,2012
(also lifted from his book 8 Habits of the Happy Millionaire))

"Bo, we're torn between loving my mother and loving my kids".

        My friend Pam was talking about her mom who was 63 years old and sickly, and her two daughters.
Since her father died, Pam's mother has been living with her for the past two years.

      "Bo, we're not rich. But last month, we spent more than P12,000 for my mother's medicines.Again I wish my two brothers and other sister would take care of her,too,"she said, her voice trembling.

     "My husband doesn't complain but I'm sure he doesn't like it.We have two daughters and we sometimes can't buy them things for school because of Mom.Yesterday my daughter asked me again If I could buy  her a computer--but I told her,"Sorry, we can't," she paused to breathe, fighting back her tears,"because Grandma needs our money."
     "Have you asked your brothers and sister to help out? I asked.
    "We fight about it a lot.Over the phone. In emails.I tell them to  let our mother stay in their homes. That it's their turn. But they tell me they can't afford it, too."
    "I see."
    "Bo, the sad thing is that Mom feels it.She knows we don't like her at home."
   "Why do you say that?"
   "I just know. Perhaps she overheard us fighting.Sometimes she talks about dying so that we won't be burdened anymore."

What if We Can Go Back in Time?
What if this 63-year-old grandmother read this book(8 Habits of the Happy Millionaire) when she was in her 20's,30's40's?The situation would have been totally different.
      Dramatically different.
Because she and her husband could have saved 20  percent of their income every month and invested it in the stock market,mutual funds, and other investments.
      By age 63,she would have had P10 million.    
      She'd be living comfortably in her own simple house.She'd be paying for her own medicines and doctor's fees. With her own money,she'd have hired a full-time caregiver and house help.
      Every weekend,her children and grandchildren would visit.The grandkids would love going there because there's always delicious  food prepared for them.
     During those  visits,her four children would "fight" for Grandma to stay in their home."Mommy,you always stay with my sister," the younger one would say,"Why don't  you also stay at my house this time?"
     Once a year,Grandma pays for a big family vacation for all her children and grandkids. Last year,they went to Vigan. This year,they'll be going to Batanes.
     Thanks to Grandma, everyone looks forward to this big break.
     Now I ask you:What kind of future do you want?