Today we watch Chapter 9, the final chapter of The Retelling of The Richest Man in Babylon. When I thought of this “videoserye” project, I thought of including ANC On The Money anchor Edric Mendoza reading to his good-looking kids. I tease Edric and his wife Joy that they should go on procreating because their kids help increase the beauty index in the Philippines. So far, they have five children.
This final chapter talks about the different reactions of Arkad’s friends after listening to his story of how he became rich. This is a crucial chapter in the sense that it reminds us how we react to success stories. Do we insist on attributing other people’s success to Lady Luck? Do we feel disappointed that we are not given a part of our friend’s or relative’s wealth? Wala man lang balato! Or do we take inspiration and learn the lessons from their successful experiences and apply them to our own journey?
It’s really our choice. Do we make excuses, “Ako naman hindi talaga ako yayaman kasi…” or do we take positive action now in order to improve our lives?
The good news is that the laws of money are really simple. Adults tend to complicate things. Maybe sometimes we try to make things look complicated in order to justify why we’re not yet there. What’s important is we differentiate simple from easy. Simple does not necessarily mean easy. Even if the laws of money are simple (as you should know by now having reached the final chapter of the book), they are not necessarily easy to do on a regular basis. It’s because we are emotional beings prone to make irrational decisions. And the worse part is, after we make an irrational decision, we try to “rationalize” it by using excuses. Instead of doing this, we should embrace our being irrational beings and try to work on our respective personal quirks. This is the reason why this Economics graduate is fascinated with Behavioral Economics (B.E.). (Traditional Economics assumes that the consumer is a rational being while Behavioral Economics assumes that consumers almost always decide based on emotions.) I try to apply B.E. in all aspects of my life, sometimes successfully, sometimes not. But I tell you, it’s in embracing my irrationality that I’m able to make more rational decisions!
After you watch Edric and his sons read the final chapter, I hope you will be in unison with the kids when you answer the question at the end of the story.
Please click this link – Chapter 9 read by Edric Mendoza and Sons or the link above to watch the video.
If you wish to watch the previous chapters and Introduction, please go to FQ Mom You Tube channel or this website’s archive in order to read the short introductory write-up per chapter, the why and how of getting these important people to participate in this videoserye.
Special Message: I hope you all enjoyed watching these videos. Some people questioned my move to publish all these chapters in full while the book is available for sale. I guess, I’m counting on the fact that when you see the importance of the lessons found in this easy-to-understand book, you would want to have the printed copy with an attractive cover, so you can do the activities and assimilate the lessons more. I promise that your PhP150 investment will give you one of the highest returns in educating your children, yourself and the people around you about money. Kids will have a head start on the basic laws of money and adults will remember how simple the laws are.
To those who have purchased the book, some very generously because they want to share the lessons with the people in their circle of influence, thank you very much. May you and your book recipients always allow the power of easy recall of this version’s basic laws of money to guide you in your financial decisions.
Cheers to a High FQ for Every Juan!
To buy the book, click this link: http://fqmom.com/book/the-retelling-of-the-richest-man-in-babylon/