Why is Managing Finances More Behavior Based?

Why is Managing Finances More Behavior Based?

Hello, hello, good evening everyone. Thank you so much for being here tonight on the show. If you haven’t followed us yet on YouTube, please do so. We are really rooting for a lot more followers and subscribers on Youtube right now. We don’t have a lot. It will help us tons. That is Leadership Stack on YouTube.

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From Patrick. Why is managing finances more behavioral based?

Why is it behavioral? Because whatever you actually do is what is going to be affecting your finances. Why we say it’s more behavior based than anything else is because when we say behavior, it’s actually what builds habits. And habits are so important because habits are what you do on autopilot. These are things that you don’t think about, that you just do.

And so a lot of people today their just do it habits sometimes involves just opening Shopee and Lazada. You know those are wonderful e-commerce platforms, but once you spend time with them unnecessarily and unproductively, you start buying stuff that you don’t need. That’s not going to be good for you.

It is behavior based. It has a lot to do with your habits, the habits that you build. And so I’d say, you have to change behaviours from the mind. You have to invest in what you will know, in what you will practice in behaviour, so that your habits will follow your behavior and you read a lot of books about personal finance management.

Randell Tiongson, the author of the book, No Nonsense Personal Finance, which is a really good book to read and that has the five levels of personal finance management that you have to follow. It’s an amazing book for you to read.

Another author that I do recommend and have personally read is Dave Ramsey’s The Total Money Makeover. They have US culture in the book, but it’s also the same principles, the five steps to personal finance management, which is really the fundamentals of what you have to fall in and what you have to do if you want a good foundation in your personal finance management.

Through the years of investing, I have been a follower for many years now. What made you invest in crypto?

I did invest in crypto. I do have a couple of cryptos that I’ve invested in and I’m still invested in. Holding. And I did invest in them because I want to see how it works and how much it fluctuates. I am someone who loves learning stuff and I want to learn how to win in this investment vehicle as well.

I think a lot of cryptocurrencies have good fundamentals in terms of usability or use cases. I don’t like the volatility. I don’t like these speculations that are way out of this world, but I do like these cases for cryptocurrency, the good use cases. I do like the good use cases for cryptocurrency.

I think that it has good potential, and the earlier you invest in them, the better and the more you can see where things are going. So I think it’s just good to have a stick in the ground with crypto though I don’t really recommend you putting a lot of money that you can’t lose. Well, definitely don’t put money that you’re not willing to lose in crypto, so just put a little bit and see where it goes.

I’m a conservative investor. That’s why this is the advice you’re going to get from me. If you’re going to listen to other, more aggressive investors, I’m sure they’d tell you differently, to put a lot of money in it. But for me, just put what money you can lose and don’t put a lot because it’s very volatile. If you can’t swallow the volatility and watch your investments go red from time to time, then I suggest you don’t invest in them. That’s not going to be for you.

Who do you consider your biggest influence in life and why?

It’s going to be the Bible. So it’s going to be the word of God and God Himself in the form of Jesus Christ. I read the Bible every day. Aside from that, it’s going to have to be one of my mentors, Pastor Dennis Sy. And he’s the Senior Pastor of Victory, VCF Makati. I think right now he’s the VCF Greenhill’s Senior Pastor.

He’s the one who mentored me from when I was 13 years old, all the way to 19 years old, which would be, I would say still the time that I was being shaped as a man, so that’s some of my shaping years. And he taught me how to be a real man, how to treat women right, how to read the word of God and put it as a priority in my life.

He taught me a lot of things that I didn’t get to hear from my dad or I didn’t learn from my dad, so I’d say I learned it from Pastor Dennis Sy. His influence in my life is a big deal for me. I can’t pay that back. So without those years with Pastor Dennis, I would say I’d be a very different man right now. I mean that in a negative way, so I’d probably not be who I am in this way that you guys know me.

What is the story behind your amazing side hustle?

Some of you guys may not know, but SEO Hacker, my business all started from a blog. And this blog called God and You, the articles are still existent in my website, sean.si. They were written by me. Not a lot of people were reading my stuff and I had to research about how to increase my readers and how to increase my subscribers, and this thing called SEO kept popping up.

So I applied it to the God and You blog and I tried it. I pretty much journalled everything I was learning in the SEO Hacker blog, which you know now. I mean Hacker is the brand we have. It’s the name of my business and company, but it wasn’t a business back then and I didn’t aspire to be a business person, to be honest.

It was just a blog and people started inquiring like: How do you do SEO? Can you do SEO for my company? Can you do SEO for this business? Can I refer you to someone? That’s how the business started. I was a freelancer. That was my side hustle while I was working a full-time day job. And five months into my full-time day job, I resigned, because I had to focus on SEO Hacker.

I left in a really good way. I turned over everything, trained my replacement and went full-time in SEO Hacker. That was like 10 or 11 years ago already. And right now SEO Hacker has grown to a 50 man team and we are enjoying what we do, love what we do, and we love working with each other. That’s how it started. Very humble beginnings, I’d say.