(This piece is written by Bianca, one of the readers of MoneySmarts who has been chosen for the one-year Money Makeover challenge by INQUIRER.net. Bianca’s real identity is confidential, so that MoneySmarts can share her family’s financials and the lessons she has learned with the rest of the world. Read more about Money Makeover here.)
I am stumped.
I had been meaning to write about our recent family trip to Hongkong and Macau. As a matter of fact, my computer bears the digital imprints of so many lines and pages written. But for the life of me, I could not strike the “send” key. It struck me why one night. I never could justify – even to myself – why we did it. A family undergoing financial overhaul simply does not go on trips. What example would I be? What message would I send? The shudders would not stop (even as I grin at the memories).
But, hey, we did it. And it, oh, set us back a few months. But there were valuable lessons we learned along the way.
Joe and Salve knew about the trip. I was shaking when I told them – partly because of wanting, partly because of fear, partly because I thought I would have to defend myself, partly because I was wracked by the guilt that is the genetic imprint of my mother. But, lo. Joe and Salve said we could turn the trip into a challenge. They asked what budget I wanted to set. Eyes blinking, I said P30,000, all in, for a family of three. I was almost sure that I will make it, having done it the year before during our trip to Malaysia and Singapore, a welcome retreat after the grueling bar exams.
Of course, I overshot the target. When that Canon 400D at a small Hongkong shop with an over-attentive salesman flashed those power lenses at my husband, that P30,000 budget went up in smoke. He had to buy it. For business (I chimed, miserably, in my head).
With the camera, which catapulted us toward the edge and beyond, we spent P70,000.
But hey, it included a trip to Disneyland and Macau and several authentic Chinese meals, some in quaint little hideaways after climbing rows upon rows of escalators upon elevators, and, as my daughter said, priceless time of running hot baths, walking hand in hand, using chopsticks and twirling in Dumbo’s cups (okay, this is Disneyland talk). Our daughter actually expects that we will do it again this year.
Oddly enough, I am unperturbed. Shaken, defensive, yes, but unperturbed. After all, theories must be tested in the bed of reality, lessons must be learned and burn deep, so that it will linger and be remembered.
Until the next time.
May 24th, 2008 at 9:10 am
Hey Bianca! Hmm, first timeshare, now camera. Money makeovers should always have room for small luxuries. But I guess Salve and Joe set a limit / quota on this. With consequences if breached e.g. give up timeshare? hehehe
May 24th, 2008 at 6:38 am
An old Filipino saying comes to my mind as i read your account, “aanhin mo pa ang damo, pag patay na ang kabayo” , while i advocate smart money management practices so that we would be able to enjoy more or simply sustain our lifestyle of choice in a future date-the consumption experience is still set in a “future date” .
In my practice-risk management tools as a way to mitigate uncertainty is a central theme in a person’s portfolio allocation, but employing all known and available resources in this area still cannot “guarantee” a specific future outcome that you would have desired.
If i ask you to choose between:
a million pesos five years from now
or
Seeing the twinkle in your husband’s eye as you are leaving the store with that camera?
Your daughter’s laughter as in the disney rides?
The experience of walking hand-in-hand in a strange land, savouring exotic dishes using strange eating utensils..
Which one would you choose?(i think i can guess your choice..)
Money should be viewed as an “enabler” and not as an end by itself, we save now so that we can “experience” something special in the future, but if the opportunity arises now and the “costs” is something you can manage (say equal to one to two month’s income), then go for it..as the positive feelings and memories of this unscheduled trip will surely inspire you to save more for a scheduled future trip..
thanks,
May 23rd, 2008 at 11:45 pm
So what was the lesson learned?