My name is Russel Gabriel Uminga and I am a manufacturing plant engineer by profession and a private investor by passion.
Like most Filipinos, I am your average “Juan”.
Born and reared from the farming town of Urdaneta city, my father was an elementary school teacher and my mother was a typical wife who keeps the house and prepares every need of the family, 24 hours a day, seven days every week.
I believe education is the most important thing that every Juan de la Cruz should have.
The importance of education was instilled to me early by my loving and ever concerned parents. In my very young and tender age, I am certain that education will be my arm towards my dream of being employed in the big and robust corporate world someday. I also believe that through hard work, my financial condition shall grow and prosper alongside career advancement in my chosen profession.
Four years after graduation, married with kids and working with the biggest Ice Cream Manufacturing Corporation in the Philippines, I fulfilled my goal to be employed with a company of good financial standings. However, in terms of personal net worth, I am very poor.
Like millions of employees in the corporate and manufacturing world, I am deeply buried in debt and stressed in my finances to have both ends meet.
Unwillingly, I joined millions of “Juan” in the unending circle of life called the "Rat Race". But unlike any other Juan, I have the burning desire to end my race in the fast lane.
Recollecting every details how I did it wrong; I can draw it all in my off- the-beam perspective about money and personal financial management.
These are the following principles:
- Employment is the main road to financial independence.
- I should work hard to attain the money I need to fulfill the things I wanted.
- Savings account is the best investment I can have. It is safe, secure and very liquid.
- Credit card is good. It helps a lot during the times of financial needs.
- Salary and multi-purpose loans are very helpful. I can buy the things I am longing for and yet I pay in installment basis. The longer and smaller the payment terms, the better.
- Salary increase is the only factor that can help me free from this hole of debt.
My awakening about personal finance happened one day in 2005 when I bumped into one of the books titled “Wealth Within Your Reach, Pera Mo Palaguin Mo” written by Francisco J. Colayco. This book opened my eyes into the importance of money management and financial awareness.
Since then, my viewpoint regarding money management changes substantially into the following principles:
- Employment will not make you rich but the person you work for. To be wealthy, you should be the owner of the ladder instead of climbing the corporate ladder.
- Money should work for you instead of you working for the money.
- Maximize earning potential of money thru investments offered by banks and other financial institutions while enjoying liquidity.
- Pay cash for all your needs. Do not buy if you cannot afford to pay.
- Pay necessities thru regular income. Pay luxuries thru passive income.
- Employment will limit you in a finite stream of income. Investing will open you into indefinite springs of income opportunities.
Today, I am completely debt-free and slowly increasing my personal investments. I can face my Personal Balance Sheet with a smile as I add more assets while I maintain completely low my liabilities. I am always excited to see my Net worth growing as I add more investments in my personal portfolio.
ABOUT THIS BLOG
This blog is my personal advocacy to help and reach out to every Juan dela Cruz out there who is willing to learn how to manage their hard-earned money and get out of debt. Every article in this blog will be written as practical and clear to be understood by anybody in every walk of Filipino’s life
The average Filipino is my inspiration in writing this site. I will continue to share and write as long as I know that somewhere out there and in a way or another, I am helping somebody transforms his perception about money management and enrich his personal financial awareness for the better.
Please continue to join me in this journey of Piso Ni Juan as we continue to learn and share together on our journey on investing towards our goal of financial independence.
More power to your Piso, Juan!