Why is it when someone talks about managing your own money, only a few are interested

[c0mpumast3r]

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Why is it when someone talks about managing your own money, only a few are interested?

As an example:
Open youtube and search for mutual funds, or stocks, or finance, and the like or click this link >> YouTube - IntlMrktCorp's Channel. You'll notice that the hits will not go as far as 10,000 views BUT when it comes to like Justin Bieber's official videos >> YouTube - Justin Bieber - Baby ft. Ludacris and the like, the hits goes to over a whooping 300++ million!

And then I wondered at the same time why is it that most Filipinos complain about them being poor? They complain the government. They complain their salary. They complain their company and their job. They complain their parents because they are poor. They blame and complain about everything!

I admit, being in a financial industry is sometimes very hard but I pity those people whom when I invited to come to a FREE 1-hour presentation about Financial Planning in IMG neglected my invitation but when someone invites them to attend to a concert, a disco and the like will never hesitate to go.

Just remember that we've given decisions in life. All we need is to use them wisely. In IMG, we teach you to become SAVERS and INVESTORS not SPENDERS. We encourage everyone to save for their future by investing their money in a vast array of investment vehicles. We are not interested about your money because it's yours and its a sin to do such thing! That is why we teach people the right thing so that they wont be engaged in FLY by NIGHT operations, scams, illegitimate MLMs or Networking or in any other illegal forms of business.

Again, I invite you to attend our Financial Education every 7-8pm Tuesdays and Thursdays. PM me if interested or visit our office and look for me, Frank.

In IMG, you'll learn:
- Why others are truly rich and why others are poor?
- How to get out of the "rat race"
- The proper way to build a solid financial foundation
- The X-Curve. What it means? Why should you care to know about it?
- The Rule of 72 - the ultimate formula to invest the right way
- How should you start if you're already rich, middle income, or poor?
- and many others...

These are offered for FREE.

To Istorya Admin: Pardon me if I posted links to youtube.

[Metz]

It cant be helped brod. Kay naay uban dili nila feel priority ang money. it only becomes a priority when they are desperate for it. It's sad, but all we can do is reach as many people as possible.

And naa say uban they make it an active decision to enjoy now and suffer later. Wa sad tay mahimo ana kay ila mana life.

[lorenzoleo]

People don't plan to fail, they just fail to plan.

[ellakylamarie]

very simple......ang mga tawo these days don't have much to save, during pay days, they are only left with very little to spend.....maayo lang gani ug naa jud masobra

[pauld32]

For me the reason is... from day of school we were never trained how to handle money. That is why when people grow they don't carry the habit of managing their money. They only wake up when they reach the age of 30+ or 40+ or when they get married and have kids. Then they would say "How I wish I can turn back time and saved money when I could". So, don't worry so much about people that don't want to be taught how to manage their money, that's just how it is - you just can't save the world. The world is like an ocean full of all kinds of fishes and a fisherman can only catch some.

[lorenzoleo]

For me the reason is... from day of school we were never trained how to handle money. That is why when people grow they don't carry the habit of managing their money. They only wake up when they reach the age of 30+ or 40+ or when they get married and have kids. Then they would say "How I wish I can turn back time and saved money when I could". So, don't worry so much about people that don't want to be taught how to manage their money, that's just how it is - you just can't save the world. The world is like an ocean full of all kinds of fishes and a fisherman can only catch some.

T_T! Nice, Many are called but few are chosen.

[lorenzoleo]

Why is it when someone talks about managing your own money, only a few are interested?

Some reasons :

1.) Religious myth (Money is evil, Rich man cannot get into heaven. T_T! If money is evil then why work hard for the money? T_T!)
2.) Financially Illiterate
3.) Focus on obstacles
4.) Make excuses
5.) Crab Mentality
6.) Previous Bad Experience (Maybe na SCAM ug nag pailad pud kay ang SCAM gud sakyan ang Mentalidad sa Pinoy na gusto dali madato with no effort. Ang SCAM kay kanang too good to be true na returns ug dili mu pakita ug risk, guaranteed lang tanan I sulti. Usuall atik2x anang SCAM kay pakiton kag Checke, Pakiton kag auto, tagaan kag post dated checks sa returns sa imung investment. Ang uban pud scams kay mga offshore investments, Ponzi schemes, investments outside the country giving too good to be true offer)

[jackdi]

[QUOTE2]Why is it when someone talks about managing your own money, only a few are interested?[/QUOTE]

My opinion is...
"....Its because people will think nga another MLM na pod ni...."
You can't blame the people.
Kay moa man god ni ang gigamit nga nga "bait" sa mga MLM'ers.


And i would think the same way.

...no offense ha...

[lorenzoleo]

Why is it when someone talks about managing your own money, only a few are interested?

My opinion is...
"....Its because people will think nga another MLM na pod ni...."
You can't blame the people.
Kay moa man god ni ang gigamit nga nga "bait" sa mga MLM'ers.


And i would think the same way.

...no offense ha...

Correct!!

Example SCAM that hit the Philippines :
Albanian, Columbian, Phillipino Ponzi Scheme Pyramid Scandals
Cleaning Out a Country - Phillipines Pyramid Scheme

By OLIVER TEVES
The Associated Press 04/25/03
MANILA, Philippines - The lure of fast, easy money was so hot that the investors should have known it was too good to be true: promises of returns of up to 60 percent a week on investments that one company claimed were safe with the World Bank.
With an estimated two million Filipinos scammed, officials say losses in a rash of pyramid schemes may total more than the annual defense budget in the poor Southeast Asian nation.
“The number of victims and the amount of money are close to unbelievable," said Sen. Robert Jaworski, who led a Senate investigation into the fraud. “The welfare of the general public is at risk. It is time to put an end to this nefarious scheme."
Ponzi schemes use incoming money from new investors to pay returns to older ones. They unravel when the investment companies’ owners flee with the money, the government shuts down the schemes or withdrawals add up to more than the fresh funds coming in, forcing the pyramid to collapse.
Lawyer Ernesto Villagarcia, who represents about 9,000 clients with claims of at least P4 billion ($75.5 million), says most victims borrowed their stakes, sold property or used their retirement pay, savings or remittances from the millions of Filipinos working abroad.
A 72-year-old man, dressed like a poor peasant, recently sought his help to recover the P38 million ($716,981) he claimed he lost from the P100 million ($1.9 million) he made by selling his large property holdings.
“I never realized that Filipinos are wealthy," Villagarcia said. “He was even chuckling and telling me, 'Attorney, it was a good thing I did not plunk in an additional P50 million [$943,396]."'
Villagarcia, a former provincial governor who specializes in credit collection, said he and a government anti-pyramid task force estimate some two million Filipinos have lost about P60 billion to P75 billion ($1.13 billion to $1.42 billion).
That is more than the P45-billion ($849 million) defense budget, or enough to finance the government’s school building program for the next 30 years or more.
Sen. Aquilino Pimentel Jr., whose aunt had invested her retirement nest egg, said the scam works because “there are gullible people who want to make a fast buck without sweating for it.”
Maria Teresa Santos, an investment company owner who was arrested and ordered to testify before the Senate, claimed during a recent hearing that she put their money into the World Bank for 60 percent weekly interest.
“You would ask yourself, 'Are they still sane or in the verge of lunacy?' because their statements are hyperbolic, fantastic," Villagarcia said.
Most victims are too embarrassed to go public. An accountant named Charlie said he was enticed to invest P20,000 ($377) from his savings in 2001 on the promise of 7 percent monthly interest, compared with 3 percent to 4 percent a year from his bank.
He also convinced two brothers, a sister and some friends to raise about P1.7 million ($32,000) to invest with Multinational Telecoms Investors, part of the Multitel group, one of about a dozen pyramid companies shut down by the government.
“Trust was the key element," he said. An investment “counselor" gave him postdated checks, covering his monthly interest earnings, that he received upfront after making the investment.
When he tried to pull out in August 2002, the company’s checks bounced because Multitel had been swamped with withdrawals from other investors after the scam was exposed.
“We were just late," he said. After deducting earnings, his group lost 70 percent of their investment.
Two embarrassed police officers said they and many colleagues borrowed money from the Armed Forces and Police Savings and Loan Association for their stakes.
A police major said investments spread “just like wildfire when word got around that this guy and that guy got 10-15-20 percent.”He said some officers lost all their earnings from UN peacekeeping missions in East Timor and Kosovo.
“We are embarrassed to come out because people would call us stupid for losing money," he said.
Another major fears that low-ranking patrol officers, forced to scrimp due to repayments of loans to fund their investments, might resort to extortion on the streets.
“The policeman who wants a decent life would be subjected to temptations," he said.
The National Bureau of Investigation reported that more than 4,000 cases of bounced checks, violations of security regulations and syndicated fraud, a non-bailable capital offense, have been filed against eight pyramid companies involving claims of about P566 million ($10.6 million) and $190,000 in US currency.
Villagarcia, the lawyer, estimates only 10 percent to 15 percent of the victims will file charges, with the rest still hoping they will get paid eventually.


"You better watch out,
You better not cry,
Better not pout,
I'm telling you why:
Santa Claus is coming to town." T_T!

[Vergel Aldous]

[quote=lorenzoleo;8527074]Correct!!

Example SCAM that hit the Philippines :
Albanian, Columbian, Phillipino Ponzi Scheme Pyramid Scandals
Cleaning Out a Country - Phillipines Pyramid Scheme

By OLIVER TEVES
The Associated Press 04/25/03
MANILA, Philippines -
“.............We are embarrassed to come out because people would call us stupid for losing money," he said.".......

People would not be stupid if they increase their financial intelligence. The Citigroup survey was right that the financial intelligence of Filipinos falls below the average . Should it be a challenge to everyone of us to increase our financial intelligence? People from first world countries have very high financial intelligence no wonder they are rich and stable.

Let just not talk about it! we have to do something about it! Anyone who would like to be an advocate?Has the passion of helping people lives?