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Table of Contents



FJCs Guide to Purpose-Driven Investing......6

Its Called MINDSET...7

The Spiritual Aspects of Financial Planning.......10

Only P33 a Day...14

Financially Fit Even After Christmas............................................15

Get Rich Quick Schemes...........18

The Power of One.21

Ninong FJC Says.......................................23


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Colayco Foundation for Education (CFE) started in 2001 by Francisco J. Colayco, with Armand Q.
Bengco and Mary Elizabeth Bilgera in a room in his home. In the course of over ten years, our Team
has grown! We have given over 900 seminars and talks covering financial education. We are
regularly on TV with the following shows:

Pisobilities- Tuesday, 8:30 pm (Light TV 33)
Saturday, 6:00 am (GMA News TV)

Pisobilities @ the Business Portal- Tuesday, 11:00 am
Saturday, 11:00 am
Monday, 1:00 am
(Global News Network)

Pera Pera Lang Yan- Wednesday, 12:30 pm (RHTV)

Seminar School Plus- Saturday, 1:00 pm

We have also received tens of thousands of emails and text messages asking for clarification on
issues from different points of view. It is gratifying to know that we have improved our understanding
on how the average Filipino mind works in terms of learning personal financial literacy.

Born from these learnings, we are establishing One Wealthy Nation - an effort to move beyond
financial education and into financial empowerment by improving access to affordable financial
services and products from reputable financial institutions. We are also launching our very own
online learning platform - This will be the channel for many more Filipinos in the
Philippines and abroad to learn about managing and growing their money.

Our books remain the most effective tool for motivating Filipinos to be wealthy. So far, we have
publications: Wealth Within Your Reach, Making Your Money Work, Money for Kids, Pera Palaguin
Workbook, Pisobilities: Gabay sa Buhay Pinansiyal, and Easy Money para sa Kababaihan. These
publications have the basic tools needed to learn personal financial literacy. However, when an
answer to a specific question is needed, the answer lies in different sections of the books and a
quick answer is not always readily available.

In this e-book, we attempt to put together a few frequently asked questions and the quick answers to
those questions for convenience. Some of the answers are part of articles we have written for
various newspapers, magazines and websites through the years.

This e-book has a wealth of information to get you started with a guide to learn more and go deeper
into the possibilities open to reach your financial independence.


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As will always happen, not all questions are asked and not all the answers can be complete because
each person is unique. Should you have any question, feel free to check on our website or or write us at or text +639178537333.

Finally, our Chairman, Francisco J. Colayco, celebrated his birthday last October 10. On his behalf,
the CFE Team would like to offer this e-book to all who want to educate themselves on personal
money management. It is a fitting tribute to him in keeping with this personal advocacy that we all
share to make a difference in the financial life of all Filipinos.



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Ten Years of Financial Empowerment

From a modest room inside his home, Francisco J. Colayco (FJC) started a simple project that would
eventually become the countrys leader in advancing personal financial empowerment.

In 2001, Mr. Colayco established the Colayco Foundation for Education (CFE) together with Armand
Q. Bengco (AQB) and Mary Elizabeth Bilgera. CFEs original thrust was to provide financial advisory
services to schools.

One evening while FJC was driving, he was listening to a radio program about a woman selling
nutritional supplements. It inspired him to start a radio show that would empower listeners to reach
out for financial independence. Thus, in 2003, CFE refocused its efforts towards teaching financial
literacy to the income-earning Filipino.

FJCs desire to spread his advocacy resulted in his own radio program on RMN Manila called
Usapang Kabuhayan where he noticed that most listeners were clueless regarding the basics of
personal finance. Together with AQB, they would give appropriate financial advice to their listeners.

The program was a major hit that caught the attention of Michael Vincent Benares and Federico Tita
Kerry Paragas Jr., hosts of the popular radio program, Philippines Tonight Show in Hong Kong.
They helped the foundation to simulcast its advocacy through the show, so that OFWs in Hong Kong
could also tune in and listen. The effort was a stunning success that OFW listeners urged CFE to
conduct a personal finance seminar in Hong Kong.

In 2003, CFE conducted its first paid personal finance seminar at Caritas Center in Hong Kong. FJC
recalls that they were surprised to see the crowd of OFWs lining up for a HK$ 150 ticket, two hours
before the show. The seminar went on for hours and hours. Yet, everyone was so engrossed that
hardly anyone stood up as they listened to FJC and Tita Kerry providing comic relief on the side.
Due to the monumental success of the event, CFE decided to conduct personal finance seminars
every other month!

Despite having a strong following of OFWs in Hong Kong, FJC felt that he still needed to reach a
wider audience to spread the significance of financial literacy to more people. Thus, he released his
first book entitled, Wealth Within Your Reach. Aside from being a compilation of personal finance
materials used in seminars, it was FJCs personal gift to OFWs who were the first ones to support his
advocacy. The book became a bestseller very quickly. It garnered the prestigious National Book
Award in the Economics Category. FJC, inspired by the success of Wealth Within Your Reach,
eventually released the sequel, Making Your Money Work, the following year. Making your Money
Work was also nominated for the National Book Award.

CFEs presence became more evident as FJC and the CFE team were invited to appear in various
television and radio shows to talk about personal finance. Soon, many companies and organizations
started calling CFE to conduct personal finance seminars for their employees, constituents, and

With the passing of time, CFE grew in strength and numbers. From print, it extended its reach to
other forms of media. It published more of FJCs books, produced four television shows (one of which
was multi-awarded), created two websites for the public, and others.


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Today, CFE continues its advocacy of financial empowerment. By providing personal finance
seminars and utilizing the ever expanding power of media, it educates income-earning Filipinos to
unlock the hidden power of their piso- their Pisobilities! Hopefully, every Filipino will bind together
their own Pisobilities to help create a One Wealthy Nation- wealthy not only in money but in heart,
mind, and spirit!


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Its called Mindset!

The advice I give are really for people who are earning some money. This is my chosen advocacy. It
is what I know best so I choose to share this.

However, we can only share what we have. Otherwise, we will not be sharing anything worthwhile.
This is where I come from. We need to teach everyone about the need to earn, save, make your
savings grow and share the savings they have grown with others.

I teach that as long as we are earning some regular income, we can save. The savings may be
minimal but if we have the discipline and determination, we can aspire for greater savings over time.
After all, we have so many examples of people who rose from almost nothing into very successful

It is natural that we want to be able to give the best food, shelter, clothing and everything that our
family needs. If we have nothing anyway, it is tempting to give your family a moment of joy and
forget about tomorrow. But we should not spend or give without thinking of tomorrow. It is an
obligation not only to provide but also to leave something for tomorrow. I am not telling you to worry, I
am asking you to plan. Bahala na is the worst mindset to live by!

But how do we teach people who are so poor that they cannot even buy food for their children? Such
cases are very complex and there are people who choose to help in working on advocacies related to
this. Let me just say that for those who do not have enough, they still have their intellect and will.
Money and all things material are mere creation from ideas. For as long as we are alive, we can
think and create good things for us, provided we have the right mindset and the will to improve our

Perhaps, if you cannot do it for yourself, at least do it for your children. If you are not able to do it in
your lifetime, there is a good chance that your children can, if you bring them up correctly with the
right VALUES! Teach them to Command money and not money commanding you! It is not just a
matter of money, it is an attitude and mindset inculcated in the children.

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I think that the parents or guardians of such children who eventually succeed taught them good
VALUES from the time they were small. Values most important are respect, honesty, integrity,
resourcefulness, sincerity, discipline, determination, decisiveness and others. If my child were to
reply to me in a manner like one of the comments I received: wag mo akong pakialaman...buti sana
kung sobra o sapat ang kinikita pero hindi eh salat na salat pa para sa sikmura., I think I would
consider myself a failure in teaching my child many of the said virtues.

It is possible to rise out of poverty like so many have and the common denominator is the MINDSET

This story about elephants is a very good example of how sometimes, we get caught up in our
present so that we are not able to break out and do something better for ourselves.

As my friend was passing the elephants, he suddenly stopped, confused by the fact that these huge
creatures were being held by only a rope tied to their legs. It was obvious that the elephants could, at
anytime, break away from the ropes they were tied to but for some reason, they did not. My friend
saw a trainer nearby and asked why these beautiful, magnificent animals just stood there and made
no attempt to get away.

Well, he said, when they were very young and much smaller we use the same size rope to tie them
and at that age, its enough to hold them. As they grow up, they are conditioned to believe they
cannot break away. They believe the rope can still hold them, so they never try to break free. My
friend was amazed. These animals could at any time break free from their bonds but because they
believed they couldnt, they were stuck right where they were. The powerful and gigantic creatures
have limited their abilities and their potential by the limitations of its past.

Like the elephants, how many of us go through life holding onto a belief that we cannot do
something, simply because we failed at it once before? How many of us refuse to attempt
something new and challenging because of our so-called MINDSET?

Your attempt might fail, but never fail to make an attemptand choose not to accept the false
boundaries and limitations created by the past!


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This kind of mindset is what happens when are repeatedly told that we cannot do something
because we are too poor. If instead, we repeatedly show and tell ourselves and our children that we
can be better than we are, then, we can break them out of this mindset.


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One of our team members at the Colayco Foundation, Arthur Ladaga wrote an article for my blog. It
is a good article for your reflection.

We are often asked a lot of questions. Most of it has to do with the best investment option. Theres
nothing really wrong with the question. With all different kinds out there its hard to choose the right
one. Each has its strengths and weaknesses. Different people also have different preferences. What
is it that really helps in choosing the best one? The answer is simply first and foremost, to know
ones financial objective.

Your financial objectives revolve around three things: Purpose, Target, and Time. Purpose is the
reason why you are investing in the first place. Target is your desired amount to reach. And lastly,
time is the period you have to achieve your target. Knowing your financial objective helps in
choosing the best instrument around because each instrument is unique

And yet when most people are asked about their financial objectives, most people cannot give a
straight answer. Some people reply I want to be rich. Theres nothing wrong with it but its still not
well defined. Others are absolutely clueless, as if staring at an imaginary wall. And there are those
who get upset and say I dont have one! I just want to have more money!

Time and time again we emphasize the need to know of ones financial objectives. Its usefulness
knows no bounds. The most successful individuals are those who know their goals by heart. They can
even say it while theyre sleeping. And yet at the heart of proper financial planning lies a spiritual
essence that many ought to discover. Religious or not, you must realize that money is also a spiritual
matter that needs to be dealt with. Knowing the spiritual aspects of financial planning will enable you
to realize its importance in a more profound sense.


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Separation from Money

When we do financial planning, we are actually separating ourselves from money. Most people will
find this absurd. I want to have more money. Are you telling me that I shouldnt want it? To separate
yourself from money simply means not desiring money for its own sake!

Some of you may recall the quote the love of money is the root of all evils (1 Tim 6:10, New
American Bible). Money itself is not evil if you read the verse carefully: For the love of money is the
root of all evils, and some people in their desire for it have strayed from the faith and have pierced
themselves with many pains. The real evil is to desire money for itself that one forgets the most
essential things in life. One writer cleverly summarizes it this way: What is essential is invisible to
the eye.

When you do financial planning, you are telling yourself not to seek money for itself. Seeking money
for its sake can corrupt the human soul. How many important relationships have ended because of
the distorted desire for money? How many people are miserable despite having lots of money? Self-
mastery is an important trait to have when dealing with money. Money is a powerful ally to wealth
but it can distort you when not properly handled.

Purpose-Driven Money

The second spiritual aspect of financial planning is to make your money purpose-driven. Once you
have self-mastery over your need of money, it should be clear why you need it. You may need it to
buy a house for your family. You may need it to finance your childrens education. Or you may need it
to give more to the less fortunate. Any attempt to a financial endeavor without a clear purpose for
your money can be likened to blind spending!

Money with a clear and noble purpose can help achieve the ultimate end of human life. Humanity
only has one particular calling: to live an authentic life in accordance with the divine will. You can find
this at the beginning pages of the Bible:

God created man in his image; in the divine image he created him; male and female he created them. God
blessed them, saying: "Be fertile and multiply; fill the earth and subdue it. Have dominion over the fish of the
sea, the birds of the air, and all the living things that move on the earth. (Gen. 1:27-28)


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To be fertile and multiply not only implies an increase in physical number. Being created in the
image and likeness of God, you are expected to live up to it. You must continuously develop yourself
to live up to your first true calling. This is what it means to be fertile and multiply! When you do
financial planning, you make your money help you become a well-rounded person in many aspects:
financially, emotionally, spiritually, and others. The same expectation applies when you use your
money to help the people around you, particularly your loved ones and your community.

The Impermanence and Giftedness of Money

Lastly, financial planning reminds you of moneys impermanence and giftedness. Like everything
else in this world, money lasts temporarily. You cannot take it to the grave with you. It will eventually
decay regardless of what kind of physical protection it has.

Nevertheless, money is also a gift. It may be a man-made invention used to purchase goods or
services, but it is essential in daily living. People need it to buy their needs and wants. In addition,
many people have difficulty earning money. The fact that you are able to obtain money legitimately
(whether through active or passive income) makes you realize the importance of it in your life. You
are given opportunities to earn and grow it so that you can utilize it better. This is the essence of
moneys giftedness!

Saint Ignatius of Loyola, the founder of the Jesuits, gives a wonderful insight regarding the giftedness
of all created things:

All the things in this world are gifts of God, presented to us so that we can know God more easily and make a
return of love more readily. As a result, we appreciate and use all these gifts of God insofar as they help us
develop as loving persons. But if any of these gifts become the center of our lives, they displace God and so
hinder our growth toward our goal. (Ignatian Spirituality Institute)

Financial planning helps you value your money in a proper way. Because money is not permanent,
its important to know precisely how it should be used. It must never be treated as your god (Matt.
6:24)! At the same time, you become obligated to grow it. You are responsible to grow your God-given
gifts (Matt. 25:14-30, Luke 19:12-28, NAB) to live authentically. Money, at its innermost essence, is
God-given! You are given legitimate opportunities to earn and grow it. Having a feasible financial plan
helps and keeps you responsible over your money!


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To See With New Eyes

Planning is a vital aspect in any endeavor that you take. It is not just about making everything clear
and specific. It also involves continuously reminding yourself of the most important aspects of life.
This is what financial planning does. It may seem to be a dull and boring process, but the challenge
is to look at it with new eyes! Theres much more to financial planning than what meets the eye. In
knowing its spiritual aspects, you empower yourself further to reach your true wealth!


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It is already a Ber month. What better way to explain Active and Passive Income in relation to our
most celebrated holidaysChristmas.

It never ceases to amaze me how we all splurge for the Christmas Season as if everything would end
after Christmas and New Years Day. There is nothing wrong with giving. In fact, it is one of the
noblest things to do especially when we give to those who have much less without expecting
anything in return. Just remember that you cannot share money that you do not have! Your first
financial obligation is to yourself. You have to plan and prepare for your own future.

Let us remember what Christmas really is: the birthday of Jesus Christ who was born in a manger. All
the consumerism of Christmas is man-made. We can be happy and share but let us remember that
life will continue and we will have to prepare for our future while we still have the means.

Those who like the work that they do are very happy because their work gives them fulfillment.
However, let us never forget that, we all work because we want to be financially independent. It is
wonderful to give, spend and make merry but just make sure you only use your active income.

There are two kinds of income: Active Income and Passive Income.

Active income is the income you earn by working. This is your salary, overtime, commissions or
sideline. This is the income that you do not get unless you actually work. As they say, no work, no
pay. You must set aside 20% of your active income. Half of the 20% or 10% should be used to pay
for term insurance, medical insurance, sharing, and other such necessities. The other half or 10%
should be saved in cash. As you accumulate at least Php 5,000 cash, you can purchase mutual
funds or treasury bills to earn more than the savings account interest and higher than the inflation

Passive income is the income you earn from your savings. This is interest earned, rental from
properties, commissions from your downlines in case of legitimate networking. The income will come
to you whether you work or not. Passive income is the key to your lifetime wealth. Start now and

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make sure you save and invest regularly. Of course, you also deserve to give yourself something
extra for the season. Do it, spend some for your Christmas holiday enjoyment. Just dont overdo it.

Where to Spend Active Income and Passive Income

Active income is to be used only for everyday expenses and for savings and investments. Do not use
your active income for Christmas parties and splurges.

Another way of finding ways to spreading good cheer and sharing during Christmas is to cut down on
your everyday expenses during the months or weeks before Christmas. If you have not done so
during the past months or weeks, you will just have to reduce your Christmas expenses this year and
make up for it next year. You can start cutting down on your daily expenses starting January so that
you can spread more cheer for Christmas. This means setting aside more than 20% for savings to be
able to share more during Christmas and for that matter any other holidays you want to celebrate
(including birthdays and others).

Passive Income

Strictly speaking, it is only passive income that you can use for your gift giving and parties during the
Christmas season as well. However, you have to remember that if you use some of your passive
income instead of rolling it over or reinvesting it to earn more income, you will have to find a way to
replace it so that you can still meet your Net Worth Goal for your retirement.

Christmas Bonus

Of course, many of us receive Christmas bonuses. Bonus is active income because you will not get a
Christmas bonus if you are not working. Please make sure you budget your bonus mostly for savings
and a reasonable portion to support some increases in your December expenses. DO NOT SPEND


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Borrowed from Mac Andersons The Nature of Success, Mr. Anderson talks about a lesson he
learned from a friends grandmother. Mac was having such a rough week and his friend shared with
him what his grandmother told him to always remember: Inch by inch, life's a cinch. Yard by yard,
life is hard.

Mac took the line to heart and took out a piece of paper and listed all the things he had to do in the
next three days. As he finished each task, he crossed it out from the list. Three days later, he
crossed out the last task left on the list. He felt great!
As Mac explains, Success doesn't come cascading like Niagara Falls; it comes one drop at a time
through short-term, realistic goals. If you believe you can do something (the goals are realistic),
you're likely to be highly motivated. If, however, you think you can't (because the goals are
unrealistic) your motivation level falls greatly

The same principle applies in each ones personal financial life. I keep emphasizing the same
principle as explained in Making Your Money Work. THE QUICKEST WAY TO GET RICH QUICK IS TO

Unfortunately, more people prefer to get rich the easy way and as fast as possible. They want to
enjoy the money they believe they will be getting very quickly. This is why scams continue to
proliferate and fool so many people.

Scams give promises of bigger than normal income every month or even every day, in some cases. It
is so easy to want to believe when the first thought that should come to mind is if the promise is
even realistic. If it is not, then why even be motivated to believe in it.. This is when the next part of
the scam comes in. They give the names of people who have already invested and are already
receiving the returns. When you check with these people if the claim is true and they so confirm, the
inevitable follows. You end up investing and sad to say, the Get Rick Quick becomes Lose
In some cases, at the start, the money does come in as expected. As the money comes in though, it
is almost automatic that the money is spent in frivolous WANTS. After all, more money is expected to
come in regularly so why not enjoy. Some scams last for years and at the end of it all, the scammer

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tells the investor that the investor got his money back anyway through the regular interest paid. That
is true but it has all been spent. At the end, the Investment is all gone and even the WANTS
purchased are no longer important.

In a real investment with realistic long-term goals, the returns come in, reinvested (compounding
principle) and kept intact. At the end of the period, both the investment and the earnings are kept

There are an extraordinary number of emails from different countries claiming that they have come
into a lot of money and need help in investing. Or they can provide opportunities for investment.
They start asking for information about your finances and maybe ask just a little amount just to show
that what they say is real. Thats when the problem begins. They make you feel so important and
you might feel you have nothing to lose. You shouldnt even bother to read these emails because
they are a waste of precious time.

A growing number of our OFWs and their families back in the Philippines are using more emails to
communicate with each other. As they use their emails, opportunists manage to get their email
addresses and start sending them these fraudulent emails. And not knowing any better, they start
giving information that they should not be sending to people they do not even know. Or, if they send
it to people they know, this personal information could be intercepted through cyberspace and/or
eventually forwarded without their knowledge to other people who use it for inviting them to their
scam proposals.

The moment those who invent scams know they have some money, they become an easy target for
them. They know that OFWs are prime targets for scams. They are away because they want to make
money and the faster they can make money, the faster they can return home to their family. I cannot
seem to reach enough people to tell them to STOP THINKING OF GETTING RICH QUICK! THE BEST

You have to think of a long-term period of 20-30-40 years even. That is why the younger you start,
the more chances you have to grow your money. But as they say, youth is wasted on the young. The
young never believe that they will grow old until they wake up one day and they cant believe they
wasted all those years.


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Another important reminder: WHEN IT IS TOO GOOD TO BE TRUE, IT IS PROBABLY NOT TRUE! For
example, 6% per month is the interest offered by some Nigerians! Six percent per month is
equivalent to 72% per year! It is very difficult to earn this amount on any investment except perhaps
in the stock market on a very risky investment.


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Are you familiar with the concept of "cooperatives?" How many of you are members of a cooperative
in your barangay or community? Why did you join a cooperative? What are the benefits you enjoy
from it?

Friends, the concept behind a cooperative is quite simple there is strength in numbers. This is
what we call the Power of One. The Power of One will change a lot of lives for the better. This change
will come from many people if they unite together to create a force that can withstand storms The
Power of One.

The Power of One is simply unstoppable. Storms cannot affect it and I firmly believe that this is the
strongest and most resilient foundation to grow our business.

Look into the option of banding together into cooperatives and the like.

1. Statistics indicate that no more than 15% of individuals who dare become entrepreneurs
succeed. Why do most entrepreneurs fail?
They lacked business/management skills
Miscalculated the working capital requirements and unable to raise correct financing
when they needed it
Seriously mismanaged the operations
Did not see the value of competent staff or consulting advisors in the areas of marketing,
production, technology, legal aspects, personnel and leadership

2. Advantages of organizing into a cooperative or joining an existing legitimate cooperative. If
you pool your resources in capital, talent and market reach, you will be able to form a
formidable investment that can provide you with:
More high yield investment and business opportunities
Greater probability for no-capital-loss of each members contribution
Greater ability to provide each member with the mechanism to convert his equity to cash
in case of any urgent need
Greater chances to earn higher and more consistent income

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Better access to the best professional management
Assured financing for venture development and implementation
Greater assurance for sustained success

To prevent your new business from failing, join cooperatives or other groups like savings and loan
associations. These aim to help you expand your abilities and give you many opportunities to grow
your capital.

The Power of One can lead to changes for the benefit of the many. These changes come from the
many but only if the many can come together to form that which is invincible, the Power of One.

Saving together provides better benefits. If you are interested to learn about the KsK Service &
Multipurpose Cooperative, check out or write to


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We are quite blessed that our small foundation has weathered all storms for the past 10 years.

When you look at businesses that have lasted for way longer, some over 100 years, they have the
3Ds: Discipline, Determination, and Decisiveness. They certainly started small because its rare for a
business to start big. I always say that its hard going into business. According to surveys, only 15%
of new businesses succeed. Those that succeeded have the 3Ds. People who want to break free
from the chains of poverty need all these three.

Why Discipline? Because this ensures that you will do what you need to do every day without
ceasing. Its not right that, for one day, you do something well and forget it during the next!

Day by day, minute by minute, do what you need to do so that youll familiarize yourself with what you
need to know. Dont tire of it, even if it is repetitive. Never allow short cuts in work. This will lead to
a decrease in the quality of your work or service.

Why Determination? Because determination gives you the drive to do something you want, whatever
happens. Somehow, you will get whatever it is in your mind.

Why Decisiveness? Because if youre good and clear in evaluating, you can easily decide on what you
want to do. Opportunities will not wait for you. You need to be decisive on what you have studied on.

Congratulations to all of you readers! Pagapalain sana tayo lagi ng Diyos!



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TENacity: 10 Years of Financial Empowerment

Copyright 2013 Colayco Foundation for Education Inc.
Attribution-Non Commercial-NoDerivs 3.0 Unported

All rights reserved
No part of this e-book may be reproduced in any form or any means without
the written permission of the author and the publisher.

Colayco Foundation for Education
Unit 807 Citystate Center, 709 Shaw Boulevard, Pasig City
Telephone nos.: 637-3731/637-3741, +639178537333 Telefax: 637-3731

The information in this e-book is taken from the authors personal experiences and various sources. Specific economic
information such as interest rates, inflation rates, and foreign exchange rates are based on information available at the
time when the book was being written.

While every effort has been made to provide complete and updates information herein, the author cannot and does not
guarantee its accuracy and completeness.