(And What to Believe Instead)
Let’s be real: Filipinos are not lazy.
We hustle. We work double jobs. We go abroad. We send money home.
But here’s the painful truth—despite all that effort, so many still live paycheck to paycheck.
Why?
Because how we think about money is just as important as how we earn it.
And sadly, many of us grew up with financial myths disguised as wisdom.
Let’s break them down—and learn what to believe instead.
💭 MYTH #1: “Hard Work = Wealth”
Nope.
If that were true, every construction worker and jeepney driver would be rich.
👉 Hard work is important, but smart financial habits, investing, and income diversification make the real difference.
📘 Start here: The Psychology of Money by Morgan Housel. It’ll change how you think about saving, spending, and wealth.
💭 MYTH #2: “Money Is the Root of All Evil”
This belief quietly teaches us to fear money or feel guilty when we want to earn more.
Truth: It’s greed and lack of integrity that are harmful—not money itself.
💡 Start building wealth with purpose and conscience. Use this budget planner to track your goals without shame.
💭 MYTH #3: “Basta Makaluwag-Luwag, Ok Na”
We’re told to be content. And that’s beautiful—until it becomes an excuse to stop aiming higher.
You can be content and still want more for yourself and your family.
💻 Invest in upskilling with this upskill or die book to earn smarter—not harder.
💭 MYTH #4: “Investing Is Only for the Rich”
Many Filipinos fear investing because they think it’s complicated, risky, or requires millions.
Fact: You can start investing with as little as ₱100.
📘 Read I Wish They Taught Money in School — written by Filipinos, for Filipinos. Simple, empowering, and local.
💭 MYTH #5: “It’s Okay to Rely on Children When We’re Older”
This mindset places pressure on children and blocks the cycle of generational wealth.
Let’s stop normalizing the “utang na loob retirement plan.” Let’s secure our own future.
🛡 Start building your independence with this Retirement Planning Workbook.
💭 MYTH #6: “Basta May Work, Ok Na”
A steady job doesn’t guarantee financial stability—especially if the pay is low and you don’t know how to grow it.
Multiple income streams > one job.
📘 Learn how to build side hustles with Rich Dad Poor Dad. It’s a classic for a reason.
💭 MYTH #7: “Credit Cards Are Always Evil”
Many fear credit cards like they’re debt traps—which they can be if misused.
But when used wisely, they build credit, offer rewards, and help with emergencies.
💳 Educate yourself first with this Smart Credit Card Management Book before getting one.
✅ Final Thoughts
Filipinos deserve financial freedom—not just financial survival.
But to get there, we have to unlearn what we thought was true.
Let’s drop the shame, challenge the myths, and start making money work for us.
Because your future isn’t built on hustle alone—it’s built on wisdom, strategy, and courage to think differently.