Here are three practical tips I learned from our church pastor. If you liked this, you may want to visit the Cathedral of Praise (COP) website and download the sermons there. It has really great stuff that might help you.
1. We must learn to live prudent lives. Big investment corporations are falling. A lot of income opportunities may come our way. Carefully plan and scrutinize all details. We don’t want to invest in something that we have no real knowledge and that might possibly be another headache. Know what you are really putting yourself into. Research. Research. Research.
2. We must learn to be investors and not consumers. Stop consumption for unnecessary things as much as possible. That way, when opportunities to buy rice lands in the province are available, we can easily invest. That’s better than spending on the hippest bar for your snazzy birthday party, a Louis Vuitton bag, or a pair of Manolos. Remember that the most valuable things and the most precious are sold last, at the depth of the crisis. This means that an item originally priced at Php 200,000 can now be bought for just Php 20,000.
3. We must learn not to live dependent lives. When one is able, its existence should not depend on its parents, brothers, sisters, or relatives. Get up. Work. We need to grow and change. That person you are depending on is never going to prosper because he/she has too many parasites attached. Now, more than ever, every member of the family needs to work.
Don’t get me wrong. It’s quite alright to treat yourself with some things, like having that dream wedding at the best banquet facilities in San Diego California. Because for me, having a proper wedding is an important experience that a couple must have. With all the stress, planning, and budgeting it generates, couples get to know their partners, e.g., like how they handle stress and money. I got to really know my wife when we were planning for our wedding. 
What I would like to stress out is that the entire economic system is about to freeze up. We don’t know if this will pass away or settle, and greatly affect our lives. Let us all be prudent.
Nice! a timely advise. this will help me alot in dealing my current problem. I hope you continue posting great insights.
Posted by ka at October 23, 2008, 6:19 pmMai: Very true. A friend of mine would rather starve to death than look poor. I just hope he’s wiser now.
Ka: Thanks. Don’t worry. It will all work out somehow.
oh well, indeed true. as we are facing this times of our lives, being prudent means everything…and to carefully choose what is good for us.
Posted by sheng at October 24, 2008, 8:52 amThanks for sharing this! These are really scary times with the Philippine Peso down to it’s 22-month low. We are looking at a very uncertain future so everybody needs to tighten their belts and save for a rainy day.
Posted by Eper at October 28, 2008, 9:00 pmSheng and Eper: You said it. Let us not think that our banks here are not tied to the banks there.
Posted by thehusbandspeaks at October 30, 2008, 8:01 amI’m guilty of #2. I know, I know!!! tsk…tsk…tsk… Geez! I’m trying to be prude though! Alhough once in a while I tend to forget…Hay! I guess that’s ok. Right?
Posted by jetty at November 2, 2008, 11:16 amHey Jetty! I think it’s quite alright that we enjoy what we have and spend it on items that we like. Maybe it would also help if you plan purchases and have fun on that day!
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how true! classic story of the ant and the grasshopper. i think it was my sister who told me that we now live in the era of the fabulous but broke. sad, but true.
that’s why i make it a point not to forget this piece of advice from my dad: “it’s not how much you earn, it’s how much you save.”
Posted by maidapaypay at October 23, 2008, 11:19 am