July 3, 2016


How much money do you have in your wallet? Are you comfortable with the amount of money you have right now?

Have you heard stories of Lotto winners who once became instant millionaires but few months or years later, you heard on the news that they have lost it all?

There’s a story of a Filipino Lotto winner who became an instant millionaire in 2008 by winning 14 million Pesos but eventually he lost almost everything.

When Mang Dionie learned that he won the System 7 lucky pick, he immediately withdrew 1 million Pesos to give him the experience of holding such amount. He also bought a Fortuner and a house worth 4 million pesos. He also continuously gave cash gifts to his relatives, friends and co-workers. He even gave his Boss Kaka 100,000 Pesos.

Not only that, Mang Dionie gradually took all his money because he got addicted to bad habits like gambling and womanizing until he was buried in debt. And to be able to pay his debts, he has to sell the properties he acquired from his Lotto winnings.

Then, until Mang Dionie has no choice but to go back to work doing his former utility personnel job. In 2011, he also got ill and was operated due to heart failure. The 14 million he luckily won was gone except for the house that he was able to buy.

Mang Dionie’s story is just one of the many other sad stories of once upon a time millionaires that went back being poor.

This story reminded me of one of Bo Sanchez’ Power Talks. He mentioned about what psychological wallet is which he defined as the money we are comfortable with. The money we are comfortable to hold, the money we are at ease to keep.wallet

The reason why many instant millionaires turn back being poor is because many of them don’t have large psychological wallets.

The reason why you have difficulty saving a lot of money is your tiny psychological wallet. Many of us have a tiny Psychological wallet that when it’s full, we feel uneasy that we have to spend the extra amount so we can feel comfortable keeping that wallet inside our pockets.

When you start to save with an itsy bitsy teeny weeny yellow polkadot psychological wallet, you will always be poor no matter how hard you try to save. If your psychological wallet is only 10,000 Pesos, you will still end up being poor because 10,000 Pesos is the only amount of money you are comfortable with. Every time you have more, you’ll scrape it, remove it until you will always be that 10,000 Peso person.

But if on the other hand, you already have a huge psychological wallet before you start saving, you will have greater opportunities to succeed. You have the extra opportunities to be rich because you will be working more, saving more, and comfortable holding more. You will be able to keep big amounts of money and be capable of multiplying it more. You will not be overwhelemed to carry that huge amount of money in your pocket because you are prepared for it.

Enlarge your psychological wallet so you can have more, so that you can help more.

Learn more from Bo Sanchez from his Truly Rich Club. Join us and be one of the future Truly Rich Filipinos.

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