Your Enemies Towards Financial Freedom

Your journey towards financial freedom isn’t complete without these obstacles which you must conquer. The sooner you take action against them, the sooner you achieve wealth.

Impulse Buying

Through the years, I have changed from an impulsive buyer to a frugal shopper. It took some time and a lot of personal motivation but I was finally able conquer this bad habit. If I was able to do it, I don’t see any reason why you can’t. Whenever I’m faced with an urge to buy something unplanned, I usually pause and ask myself several questions first, such as “Do I really need this?” or “How much will I get to use this?”. This simple dialogue with myself has become a powerful tool for me and I hope it will be for you too.


Inflation hurts people particularly those with fixed incomes like the elderly and those whose income isn’t indexed to inflation. They lose a part of their purchasing powers because their cash flow remains constant while their cost of living increases. Employed individuals, despite receiving constant salary increments, are affected because there is a time lag in compensation adjustments. By the time they receive higher nominal income, it has already been months since the prices of commodities have gone up.


Procrastination simply refers to the habit of putting off doing something for a later time. Filipinos are more familiar to the term mañana habit, which is often translated to Tagalog as “mamaya na” (much later). Aside from the definition, it is also necessary to learn why we often choose to procrastinate. Is it simply because we are too lazy to act or is it something much deeper? More importantly, we must get rid of this bad habit through constant practice of finishing tasks as soon as we can, instead of delaying them.

Wrong Beliefs About Money

If you think about it, money is simply defined as a tool that we use to acquire the things that we need or want. It is a non-living thing that is void of emotion or bias. Take a bill out of your wallet right now and look at it. Would you agree with me if I say that you’re simply holding a piece of paper? Don’t make it the center of your life.

Letting Frustrations Paralyze You

Dealing with your finances can be frustrating at times, especially when you’ve been working so hard to save and invest and then a financial emergency comes to ruin your plans. As a blogger, I’ve also become familiar with common frustrations in having a website such as spending long hours optimizing it for income and traffic only to get less than expected results. Don’t let the frustrations get to you; be consistent in developing habits that will help you become more financially-free.

Lifestyle Creep

Lifestyle creep, or lifestyle inflation as it is also called, is what happens when your income increases and you start upgrading your lifestyle instead of doing proper money management first. This is the worst enemy of budgeting and one that many least notice. Reflect on how you’ve been spending three months before and compare it to how you’re spending now. If you’re spending more on lavish things but still have the same cash inflow, you must start to change your purchasing decisions.

The Fear of Missing Out

FOMO usually comes when you find yourself doing nothing. So start a hobby or work on a personal project—do something that gives you a sense of fulfillment—you’ll be too busy feeling good and having fun to worry about missing out on trivial stuff.

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