Saturday, August 5, 2017

Clever ways to spend the money you earned in moonlighting (Last of 2 Parts)

To continue...

Second unsolicited advice would be, spend your money wisely. You did not earn your money sleeping. In fact, you had to lose a lot of sleep and grow heavy eyebags beneath your eyes to earn those bucks. 

It is only right to be clever and wise in spending the money you earned in moonlighting.

Your hard-earned money should at least be distributed into five categories: 

(1) Tithes. God will give you back according to what you gave and even more. As written in the Bible, in Malachi 3:10, "Bring the whole tithe into the storehouse that there may be food in my house. Test me in this, says the Lord Almighty, and see if I will not throw open the floodgates of heaven and pour out so much blessings that there will not be room enough to store it. 

(2) Parents. Give back to your parents (even if they do not ask for it), as a way of thanking them for everything they went through during your medical education. They were with you during your journey in medical school - they too were stressed when you were stressed with your duties at the hospital, and they cried and laughed with you through it all. The value of utang na loob (debt of gratitude) is deeply ingrained in the Filipino culture, and it would not hurt us if we give back to those who supported us all the way.  

(3) Savings. Save whenever you can and when you can. Every peso counts. There will come a time when you will be tired of moonlighting and you will eventually decide to go up the next level which is residency training. Learn a lesson from the ant who works hard to save for the rainy days. Residency is most of the time not sunny (in terms of the pocket) and so you should prepare for those days.  

(4) Investments. Investing your money will always be a good idea. They say, the best time to invest was yesterday - but you were not yet earning then - so the next best time to invest is today - I mean now, that you have your own money. There are quite a lot of investment tools that are available at present - mutual funds, UITFs, traditional and variable life insurances, and there's the stock market too. I availed of a traditional life insurance during my moonlighting stint. I consider that as my achievement, as well as a remembrance of my career in moonlighting. The gadgets I bought during those days had been outdated, some have even grown useless, but my insurance still lingers  - in a way because I am still paying for it until now because it is up for 30 years payment - most importantly, it continues to be an assurance that I am protected and my family won't be left hanging if ever something unexpected happens to me. 

(5) Things and Travel. Buy the things that you need and some of the things that you want. Travel to places that you have always wished to explore. Go out on an adventure. Unwind. The millenials have a word for this - YOLO, which means You Only Live once - which is quite true. You deserve a reward once in a while for all your efforts. Getting that latest phone model would probably inspire you to work harder. As for me, I bought myself a DSLR camera and a laptop when I was moonlighting. The former, a want, because photography is one of my hobbies, and the latter, a need, because when I bought the laptop, I already decided to go back to residency the following year. Reward yourself after a day's work like pigging out with friends in your favorite restaurant, watching a movie, or visiting a recreational theme park in your area. 

If you decide to choose the moonlighting path, I have no objection to that. Whatever makes you happy. "Kung saan ka masaya," as they say in Filipino.

Follow your heart. Just make sure that you have your career plans in check all the time and you know where you are headed to.

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