Lost In Translation

It was a cold Monday morning in Lanzhou, Gansu when Bambi, her mom and I were waiting for Marco’s torch relay. He was number 207 and would passed by in our area by 1052am. We took off from our hotel at 430am armed with a stick, stools, snacks, water, camera and video camera. We were quietly waiting for Marco to arrive when the police came and ask us to move back from behind the barricade. We didn’t have a choice as we don’t want to be sent back to the hotel. So, we moved back and tried the camera and video camera again from a higher ground. After half an hour waiting in that area, we were asked by the police to open our bags. In Marco’s mom’s bag was a Philippine flag. The policeman who searched her bag looked like he won a million dollars. You can see his eye lit up as if bagging the ultimate prize. A mob of policemen then drag us and ask us to stand near the wall. After checking all our bags, they lead us to a mini-van and asked us to go inside of it. The policeman asked me to hand in Marco’s camera and I was trying to show him there was nothing in it that’s damaging or incriminating. However, he just motioned to me to give it to him and go inside the van.

All of us were scared. We didn’t even get a word in and we were herded like cattle to be slaughtered. There was already a policewoman inside who was resting. She remembered us as she was the one who asked us to move. So, we sat there at the back, tensed and scared when Bambi whispered to her mom “Ma, umiyak ka. (Ma, cry)”. They both cried and the police were alarmed. I was trying to explain to them that the flag was the Philippine flag and they were the sister and mother of the #207 torchbearer. I then remembered seeing the flag in our money and asked Bambi if she has any. We were lucky she had the Php500 bill as the flag is clearly shown there. I showed this money to the lady and pointed out the flag. They were having discussions about it. Bambi then remembered her driver’s license and showed it to them as well. Only at that time when they asked us to show our passports. They didn’t even bother looking at my passport even if I was offering it.

After all the flag problems were solved, we were asked to relax and stay were we are. The policewoman then asked “Why are you crying?” Bambi and her mom told them that it was there first time to be held like that in public, surrounded by 20 police and feeling helpless not knowing what will happen to us. The policewoman then said “It was a misunderstanding.” Her boss asked us not to bring out the flag anymore, and we said they can even keep it. They declined and just said to just wave the Olympic flags or Chinese flags.

Around 930am, the foreign affairs personnel arrived and talked to us. We told them again our backgrounds and showed them our passports. I gave her a copy which I always carry and she wrote down Bambi and Tita Lyn’s details. We also told them that we were staying at Xi Hu Yin Feng Hotel. They then told us that they’re going to return to escort us to take pictures of Marco. We said ok and went back to the van.

Around 1040am, they arrived and informed us that the torchbearers are coming. We took our cameras and ready ourselves. At that time, the crowd behind the police ticker tape were 4 men deep. We were getting frustrated as we won’t have a clear view. The foreign affairs personnel and the policewomen, parted the crowd and let us through to reach our original positions behind the barricade. We waved and called Marco and in a clear voice he said “Wo De Mama (My mom)”. We were able to get good shots of his relay and was able to share the excitement of all the people who were supporting it.

All’s well that ends well. It was a scary event but there was a reason for everything. To the police and foreign affairs personnel of Lanzhou, we would like to thank you for your hospitality. We understand that it was your job to secure the place and you were only doing your job.

1. Treat money as something to save and invest. The minute you receive your paycheck or a windfall (example, an inheritance or a bonus), think of how much you can put away as savings. Then look for venues where you can invest your money. If you think this way, you won’t be tempted to splurge money.

Some people splurge their retirement pay on BMWs or Mercedes Benzes. But when they get really sick, they find themselves with not enough cash to pay the hospital. So save more, rather than spend more.

--> Save more rather than spend more.  Hmm.. I save but I don't save a lot.  Is that a crime?  On another article they mentioned how you segregate your savings.  1.  Emergency fund (at least 6 months of living expenses);  2.  No touch savings (starting at 10% of your income)   3.  Investment/Retirement Fund.  On the three, my emergency fund is up to one month of my living expenses only.  No touch savings, I'm starting to do this year again as last year no touch savings went to investment.  I have life insurance with endowment, which one of them I've halfway paid and added another to it.  By the time, I retire, I have the endowment to add on my fund.

2. Assume some risk when investing. When you play safe in investing, you’ll get safe (but low) returns as well. Millionaires have gone out on a limb putting up businesses which they hoped would earn — nothing is guaranteed. But it is in taking calculated risks that they are rewarded.

When investing, look at higher-yielding investments. Sure, they may be more risky than regular ones (such as savings and time deposits), but you may earn more in the long run. Just be wary of get-rich-quick investment schemes. Remember the adage: If it is too good to be true, it is.

--> As mentioned above I invested 75k pesos with Sunlife Balance Fund early this year out of the savings last year.  Small but it's a start.  I'm planning to put the 13th month pay that I will receive January next year into another fund.  It's better to diversify.  My No-touch savings will go to TD.  I'm not much of a risk taker.

3. Live simply. If you keep your cost of living low, you will have more cash to save and invest. Some millionaires have lived in the same homes they have had for the past 30-40 years. Or they live in the homes they inherited.

You can also take a cue from the way millionaires live: not all party every night, nor do they buy every new car model that’s released. Instead, you’ll find these millionaires working at their desks at 8 a.m. and having just two cars in the garage.

-->  Hmm.. I have to start this.  I mean I don't go out every night and party but my weakness is travelling.  I have a separate travel fund which is bigger than my emergency fund

4. Have a goal. Don’t just dream; set financial goals for yourself. By being specific, you will be more motivated to reach your goal. For instance, make it your goal to have your own home by the time you are 35 or 40. It may be a studio condo unit or a three-bedroom home in a subdivision—it will depend on your income and how you save over the years. Having a goal will help you focus your efforts well.

-->  Ok.. I'll set a goal.  To have my first million pesos by the time I'm 35 and my own home by 40.

5. Choose good debt over bad debt. Take out a loan only when the loan proceeds will be used to earn you more money. For instance, apply for a bank loan to expand a business that’s feasible. But to take out a loan to buy assets that depreciate quickly (examples: sports cars, yachts, etc.) may not be wise as these assets will not earn you enough to pay off the loan. If you really want to buy such assets, pay in cash so you don’t have to pay the cost of borrowing.

-->  I don't have debts!!      I hate having debts.  If I use my credit card, I see to it to pay everything on time.  I sometimes advance pay the items I just used.

6. Share your blessings. There seems to be a unique mathematical formula at work: The more you give, the more you are blessed back in return. Help those who are in financial need, and you may find yourself blessed all the more. If you’re an employer, share profits with your employees; they’ll be more motivated to work for you, leading the way to increased productivity.

-->  I do, through church.  I also plan to buy some school supplies to distribute to the local school in my dad's hometown.

7. Train children to handle money well. It would be sad if money you earned will just be spent unwisely by the next generation. Teach children the basics of money management, and caution them against vices such as gambling, drugs, and the like. Being responsible about wealth will be rewarded in the long run.

-->  No kids but I'm teaching my sis to save as well.