Frugal Honey

Psychology of Money

Thoughts on Earning a Living

I started working about a month after I took the bar. Give or take a few months, I have been earning a paycheck for about a decade and in those ten years, I have had my share of whining, company gossip and politics, tongue-lashing and a massive sense of entitlement. Looking back now, I really want to take my younger self aside for a serious talk and tell her (me) that contrary to what she believes, she isn’t actually entitled to anything and that she should quit whining and should just buckle down and work. Whether or not younger me will actually listen to future me is another thing altogether though.

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Running and Personal Finance

I’ve always had a difficult relationship with running. On paper it would seem as if we’d get along well because I’m an introvert who shies away from team sports. I even participated in track and field competitions during highschool intramurals, and was a member of the track and field team for a few months. A friend who trains for triathlons even pushed me to take up running more seriously because she said I have a runner’s body. But despite all that, there was simply no spark between me and running.

However, something clicked in the past few months and instead of my usual once- a- month- if- I’m- feeling- up- to- it- run, I found myself going for weekly, then twice weekly runs, and before I knew it, I was actually running 3x a week and was even looking forward to it. Believe me, no one was more surprised at this than I was.

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Why Throwing Money at a Problem Hardly Ever Works

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A funny thing happened at work a few weeks ago during budget deliberation. After my boss made an impassioned plea about the government actually doing something to help the education sector, specifically higher education, instead of merely declaring it a priority with no concomitant action, a senator offered to increase the budget of the Commission on Higher Education (CHED). Not wanting to be outdone, another senator went further and proposed to provide free tuition fee for all students in state universities and colleges (SUCs).

And the CHED commissioner declined their offer.

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The Beauty of Enough

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I first read about the Fulfillment Curve a few months back and promptly tucked it away for further research, eventually forgetting about it. It was only recently while reading the cult classic “Your Money or Your Life” that I was once again introduced to this concept.

In a nutshell, studies have repeatedly shown that happiness eventually peaks at a certain level, afterwards, happiness or satisfaction tends to dip slowly, regardless of how much effort we expend on it. That peak is known as Enough and it’s the proverbial sweet spot that lets you maximize your pleasure for any single thing or experience.

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When She Brings Home the Bacon

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Growing up, I used to hear anecdotes about my Lola, a public school teacher, giving my Lolo, a public prosecutor, a monthly allowance to spend on his tabako and haircut, while the rest of his salary went to her. She micromanaged their family’s budget to the peso, which is why all five of their daughters were able to finish college, with the two youngest daughters even going on to become doctors. My mother mused that she used to resent my Lola for her tightfisted ways, but as she grew older, she realized that if my Lola had not done what she did or if she had left the management of household finances to my Lolo, then they would have been mired in debt and would have had trouble finishing school.

In my own family, my mother outearned my father until I was in law school, and this was mostly because she went into semi-retirement from her medical practice.

Suffice to say that having a financially dominant female figure has always been the norm in my life and I didn’t think it odd that the mother provided the monetary support and/or handled the family’s finances. I only began to realize that this was an “aberration” when my schoolbooks talked about daddies going off to work while mommies stayed home and kept house.

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