From Surviving to Thriving

Let’s talk about money, and our discipline in handling it ties into the equation of growth.

Take it from someone who’s lived in poverty all her life, struggling to survive is probably the biggest challenge in one’s life.

In a capitalist world where money is everything, how do you create and build a life where all of your basic necessities are met? Food, shelter, education — these are the things I’ve experienced being deprived of. So, believe me when I say, I know how it is to think about survival day in, day out.

And what I understood above all else is that this rat race hinders us from achieving what it is that we really want to go after.

Because we’re so focused on that singular problem (“How do I feed my family this month?”), we can’t see anything else. It’s exhausting to hustle every single moment of the day, knowing that this will be a cycle you would have to repeat for the rest of your life.

When we’re focused on this one single point in our life, we can’t allot any energy for anything else. But this is where the problem lies. If we want to go to the next stage, the phase beyond “just surviving,” “just barely getting through,” we need to learn to take a couple of steps back and find that bigger picture.

Changing Perspectives

Throughout my entrepreneurial experience (and even now), funding has been the biggest challenge. For me to be able to sustain my projects, I need to find a way to generate my own capital. At the same time, I need to find a way to provide for my own family (esp. now that I have a child).

If I focus on just one aspect of the financial conundrum, I won’t be able to open opportunities for my business.

Before, I would ask myself, why is it that our wealthier family members survive with knowing we live below the poverty line? As an adult, I now understand. Because every time we’re faced with a financial issue, there will always, always be a way to spend that money.

You have an excess $100, but hey, there’s this new shoe sale in town! The $100 surplus for this month? You know what, I probably need that dental checkup I’ve postponed for months now. Now is that time! How about that plant I wanted to buy to decorate my room? I needed that, right?

There’s this quote about having larger houses, more cars, do not necessarily equate to more wealth. Why? Because if you have a bigger house, there’s a higher maintenance cost. If you have more cars, there’s a more substantial transportation cost.

And it’s true.

In this MarketWatch piece, Shawn Langlois demonstrates how a $350,000 annual income barely counts as “middle class!”

It’s simple impulse control. When you get that paycheck, you instinctively think of different ways of how you can spend it.

And this is where the solution is: money management.

To be honest, I’m still in a high learning curve myself. I’ve been through rough patches over the past six years, but it is so refreshing to be able to start anew.

For me, it boils down to creating a simple-enough comparison graph on a piece of paper with two columns: NEEDS vs. WHERE I WANT TO GO.

When we talk about thriving, money is definitely a part of the solution. Though it’s material, the way we think and talk about money matters.

In that paper, you can list down the most basic needs you need to fulfill this month. And no, your Netflix subscription doesn’t count. Include food, transportation allowance, house, etc. Anything else that you’ll be able to live without this month, leave it out of the equation.

Now, everything that’s left is ready for the other column where you build and invest something for your dreams.

Dedication and Focus

During the very first month, it won’t feel so satisfying. You’d get this itch to spend that remaining $ onto that Hulu or gym subscription you think you should renew. However, if you dedicate your attention to the end result, you’d have a more effortless way of viewing things.

If your goal is to pay off your student debt loan in 5 years, calculate what it would take for you to save that amount. Get an accountability partner. Put it up on your wall. It’s like chocolate addiction, if you don’t learn to replace your urge with tastes of fruits and vegetables, you can’t teach your body to switch from one habit to the other.

As I’ve mentioned before, I’m also on this journey with you. But, this strategy has definitely helped me leap from that “survival only mode” to knowing that I have options. Outside of this need to fill in the house with things I won’t probably use 24/7, I will have resources to use for my own purpose-focused pursuits.

So, whether it’s saving up for a wedding, funding your own business, helping out less-fortunate family members, or setting up that restaurant you and your partner have always dreamed of, even if it’s a measly $5/mo., every single cent matters. For as long as there’s a hardcore dedication, you will always find an avenue to break out.