cashflows 101
Hell week, with its major tests on four out of five days, looms forebodingly over my weekend, but today, I had a little "fun".
Since both my parents are in Cebu, I decided to stay at the dorm and catch up on work. But earlier, I attended a seminar called Cashflows, which was sponsored by the Management Economics organization in Ateneo.
Have you ever heard of Rich Dad, Poor Dad? "What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!" the book's cover chirps perkily. It's what my dad tossed at me after a frustrated lecture on financial literacy. He bemoaned my lack of sense when it came to money and hoped the bestseller would enlighten my woefully impractical mind.
Cashflows, the seminar, revolved around a board game that was supposed to teach you about investing, assets and liabilities. A board game that costs Php 15000 for a set. A board game that I paid Php 500 to play on. It was created by Kiyosaki, the wealthy author of the aforementioned book.
In the beginning, when I picked my profession randomly, I got the doctor card. Though I'd get the biggest paycheck, I'd have more expenses than anyone else. After all, doctors have to maintain a certain standard of living. If I pooped out a brat, I'd have to pay $640 for my kid each paycheck, while the janitor's kid would only cost $140 or so. I ought to have gained $13000 each paycheck, but I'd only get a little more than $3000 after all the expenses had been subtracted. After all my years of hypothetical med school too!
There were two separate roads in the board. Everyone began in the Rat Race, a perfect circle in the center of the board. Most people stay all their lives in the Rat Race. They slave away for a paycheck, but never get wealthy. It’s a vicious cycle where people work for money, but never get money to work for them.
The other one was the Fast Track--the path of millionaires.
The point of the game was to have a "passive income" (investments from real estate, businesses, etc. in which you gain while sitting on your ass) larger than your expenses tally. The result would be freedom from the so-called Rat Race. Only then would you be able to join the Fast Track, which has kooky millionaire options like buying a jet, owning a forest, touring the 7 wonders of the world, and other stuff only meant for wealthy people.
I wasn't the first to get out of the Rat Race. In fact, I got out only five minutes before the speaker announced the end of the game, but I apparently got the greatest passive income in the entire seminar. They're giving me a prize on Monday. Cold, hard cash and a certificate.
Well, daddy dearest, I won.
(Maybe I did pick the right career after all...)
Since both my parents are in Cebu, I decided to stay at the dorm and catch up on work. But earlier, I attended a seminar called Cashflows, which was sponsored by the Management Economics organization in Ateneo.
Have you ever heard of Rich Dad, Poor Dad? "What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!" the book's cover chirps perkily. It's what my dad tossed at me after a frustrated lecture on financial literacy. He bemoaned my lack of sense when it came to money and hoped the bestseller would enlighten my woefully impractical mind.
Cashflows, the seminar, revolved around a board game that was supposed to teach you about investing, assets and liabilities. A board game that costs Php 15000 for a set. A board game that I paid Php 500 to play on. It was created by Kiyosaki, the wealthy author of the aforementioned book.
In the beginning, when I picked my profession randomly, I got the doctor card. Though I'd get the biggest paycheck, I'd have more expenses than anyone else. After all, doctors have to maintain a certain standard of living. If I pooped out a brat, I'd have to pay $640 for my kid each paycheck, while the janitor's kid would only cost $140 or so. I ought to have gained $13000 each paycheck, but I'd only get a little more than $3000 after all the expenses had been subtracted. After all my years of hypothetical med school too!
There were two separate roads in the board. Everyone began in the Rat Race, a perfect circle in the center of the board. Most people stay all their lives in the Rat Race. They slave away for a paycheck, but never get wealthy. It’s a vicious cycle where people work for money, but never get money to work for them.
The other one was the Fast Track--the path of millionaires.
The point of the game was to have a "passive income" (investments from real estate, businesses, etc. in which you gain while sitting on your ass) larger than your expenses tally. The result would be freedom from the so-called Rat Race. Only then would you be able to join the Fast Track, which has kooky millionaire options like buying a jet, owning a forest, touring the 7 wonders of the world, and other stuff only meant for wealthy people.
I wasn't the first to get out of the Rat Race. In fact, I got out only five minutes before the speaker announced the end of the game, but I apparently got the greatest passive income in the entire seminar. They're giving me a prize on Monday. Cold, hard cash and a certificate.
Well, daddy dearest, I won.
(Maybe I did pick the right career after all...)