Now let me tell you something, this statistic might probably shock you. In the Philippines, there are about 17.4 million families and out of 19, 738 or 0.1 %, I repeat 0.1% belongs to the richest families; anyone below this group would likewise want to be in a higher status of living. Although this is the case, it is easier said than done. That is why we should find our own way to be as good as them.
Good day to you all! I’m Kenneth Yu and I will be talking about the secrets for students to become rich. There are three things that students should do.
First of all, in order for students to become rich, we must learn from the richest people and have the same mindset like them. In the Philippines, the top 3 richest people are the following: Henry Sy having a net worth of $7.2 Billion, Lucio Tan having a net worth $2.8 billion and John Gokongwei have a net worth $2.4 Billion.
These people become rich because of 4 reasons.
1. They have goals in life that let them know what they want to achieve. Having a goal is important because it will let a person know which way to go in the future and it will you help focus on your goal until you achieve it.
2. They don’t just think, but they act. People without action will never accomplish anything. It is one common mistake of people that they fail to put their goals into actions.
3. They are passionate on what they do. Being passionate or loving what you do, will make a person motivated to do his best and will not get tired of doing the job over and over again.
4. They don’t let problems get in the way but sees problem as opportunities. It’s the matter of perspective, thinking positively will help you perform more and control the situation better.
Now knowing the mindset of rich people, as student aspiring to become rich we should be like them to be like them. The second thing that student should do is to earn money. How can you become rich if you don’t earn money? That is why we should know the different ways of earning money. There are two ways for students to earn one is to be employed or having a part time job; there are lots of part-time job opportunities that are available for students to choose from, an example would be working in call center, restaurant, coffee shop, like Starbucks, Coffee Beans or being a tutor if you’re good in math or English why not use it as a source of income and in the same time help other students, Another way would be becoming your own boss and establishing your own business. In establishing a business, you should be passionate on the type of business that you will venture on. But students should not forget the importance of education. The part time job is merely an extra activity to earn while education on the other hand will bring a lot of fortune in the future.
Last would be to manage your money wisely. Students as early as now should learn how to discipline themselves on spending money. It is important to manage your funds because if you have a lot of money you are tempted to spend it all and suffer the consequence at the end and be financially burdened with debt. In order to void that, student should do these two things: 1. is to set your goal on how much you would like to save at the end of the month. 2. Would be to keep track of your income and spending and list them down so that you would be aware of how much you’re spending (such as a personal cash flow statement), so that at the end of the month you will know how much you save or loss. By doing these three things, you will less likely be flat broke and will have usable capital in the future and be rich.
To end my presentation I would like to say that everybody has the potential of becoming rich you can become rich, you can become rich. It all depends on the person if he/she is really determined in becoming rich. Action speaks louder than words, without doing anything your dream will not become reality.
That’s all thank you.