Category Archives: Behavioral Finance

ANC On the Money Interview: “What to do with your first paycheck” by David Angway Registered Financial Planner

I’ve been privileged  to be part of ANC On the money last November 5, 2015. This episode is dedicated to the workforce about the current salary bracket of different industry in the Philippines  and educate young individuals what to do with their finances while working. I also shared effective ways how to save, invest and dealing with financial issues such as peer pressure and lack of purpose towards money.

David Isaiah Angway currently helps  young, urban and educated millennial (Gen Y) set and achieve their long-term financial goals by educating them about investments, asset allocation, risk management, retirement planning, and estate planning. His role as a financial planner is to find ways to increase the client’s net worth and help the client accomplish all of his/her financial objectives.

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Filed under ANC On the money, Behavioral Finance, Guesting, Payday Madness, Registered Financial Planner

13 Money management quotes about debt


Debt is not a sin but stay away from it and you’ll be in a safer place . That is how my relatives shaped my thinking towards debt. You should hate yourself being in debt since you want to be free. Financial freedom should be your priority because you will be in a state of liberty to do anything that you want. When you can’t sleep because you owe someone that means you are  ahead from other people. Here are some of the quotes that can help you change your mindset towards debt.
David Isaiah Angway Is a Financial Evangelist

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Filed under Bad Debt, Behavioral Finance, Debt management, Debt Perspective, Freedom From Debt

Rewire your retirement

Retirementis a phase of life regardless of one’s age. Finally, you will have the freedom and the time of your life to work and let your vocation be a vacation. You will have the perks and choices to relax or make yourself productive again. It could be something you really wanted to do without   pressure. The exciting part is you will have now the opportunity and time to make the next chapter of your life more worthwhile. One thing you should not forget to do so before you retire is to make sure that your financial and social well-being are well taken care of .The question is, how will you start?

1.       Reflect what you have done so far – In the Philippines as of 2015 our average lifespan for both men and women is 72.75 years old (Source: Life Expectancy).  Retirement means second life so every moment should never be wasted. Evaluate your past, your current status and be excited for tomorrow knowing your purpose. Psychological research says that these are critical components of positive changes in life.  Check your finances; ask yourself whether you have enoughto live for the next 20-30 years. When you don’t have enough funds be practical or seek help from a finance professional.  Look at your bucket lists. You have a new path to travel. Successful retirees are consistent dreamers and action takers. Pondering on everything can take you to the next level.
2.       Be more fruitful – Having so much time but no concrete plans is equivalent to fatal boredom. If you are 60 years old and below, you still got plenty of options to choose from. Kentucky Fried Chicken founder Colonel Sanders took a big leap of faith when he used his retirement income of $105 from Social Security to sell his secret chicken recipe. With an incredible work ethics he built an empire. A fast food chain that we patronize using the only resources he got. Start making your life exciting. Expand your horizon by going out from your comfort zone.
3.       Be a mentor – “The heights and golden years of your life’’. Your life’s experiences will be    the guiding light and a compass to those who are lostin the dark. Create a legacy that will leave an impression and an impact to the society. Philanthropy is an old way of giving back to the community but look at Tony Meloto, the founder of Gawad Kalinga taught us that business is not all about capitalism but you can make a better world through the modern form of giving which is social entrepreneurship.
4.       Travel and explore unfamiliar locations– A time to relax and unwind. If you had been stuck in a place for a long period of time travelling will increase your openness to new experiences.  This is ideal if you were able to save more money. Visit other places nearby will be more feasible if funds are not enough. The more you interact with other people and adapt to their practices will not only gives you fresh perspective but also makes you creative. Traveling can give you liberty to explore new heights. Treat yourself and have time for a little bit of luxury sometimes.
5.       Find a fitness group – Good health and enough energy to get things done daily is a reward. One of your core responsibilities while you are ageing is to sustain your body’s health and wellness. Zumba class at the gym or at home, kickboxing, swimming and high Intensive work outs will bring out the best of you. Choose an exercise or an activity that best suits you.   A famous evangelist once said, “When money is lost; nothing is lost, but when health is lost, something is lost”. Health is wealth as they say. You are not getting any younger. Try to join a club or a wellness and fitness program wherein professional coaches will train you.  It will help you get motivated and reach a goal that you are trying to achieve. Do it now before it is too late
 Start designing the second half of your life. Do not let your fears of retirement gobble you up. Give your life some dignity to retire. Build your wealth brick by brick and soon you will build a bridge that will sustain the life you dreamed of a long time ago. For those retirees, never let dull moments kill and destroy your precious time. Make the most of what you have and be prepared. “Aspire to inspire before you expire.” 

David Isaiah Angway Is a Financial Evangelist

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Filed under Behavioral Finance, Retirement

9 financial concepts you need to teach kids

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Financial concepts today are getting easier now to grasp. Movements from different organizations that talk about  financial literacy program is getting momentum compare to the previous decades. Maybe this is because of the previous mistakes of our fellow countrymen. As a parent  we are responsible in preparing the next generation for the upcoming tasks. Historically, year after year the number of fraud victims due to very good financial engineering and poor decision making is costing us billions of pesos but in today’s world we can prevent that from happening by spreading the fundamental values to the younger ones.
What is Budget
Teaching  them about budget is also teaching them how to fish regardless of their resources.  Never let your kids graduate from grade school without knowing how to do this because this is the pillar of financial management.  Be organize with your finances.
The battle between wants vs needs
Kids are very known to their “I want it now” syndrome  they are highly emotional and will throw temper tantrums ASAP to get what they want.  Since you are ahead and more intelligent to your kids, you are using the logical part of your brain after weighing in the available resources. Once you passed an efficient system the future generation is going to be more responsible.
The concept of  Investments  
In simple terms once they spent something there should be a bigger return in a long run. We are not talking about consumerism but real investments like 1000% return such as education, attending a class or put so much time in something that you love like art class and use your kids talent to create project after projects to serve others.
Credit card and Debit Card usage
Let your kids be knowledgeable about how to use this or else this will make or break them. Both cards can be use in the same manner but if you keep on swiping without too much control and don’t know when to stop they will  end up in a very deep hole. 
Power of Debt
My parents hate having debt and since I live in a Christian home our philosophy is if you are in debt then you are slave to the lender.  Explain to them that being in debt and interest rates should never bury you in stress.
Everlasting Taxes  
You can escape other stuff in this world aside from tax and your kids should be aware of it to make sure not to focus to much with it. Wealthy people focuses in earning more and not  just in taxes.
Compound interest
The 8TH wonder of the world. When your kids know this as early as possible they will be surely ahead of the game of money. Let them learn  this wisely and it  will help your kids be more financially savvy. 
Beware of Scams
This is for older kids. In a low trust world let your kids learn  not to believe every thing that they hear from other people is true. Let them ask you and get counsel from the people they look up to.  Sit down with them so they can open up. Many people will lure your kids. 
Giving to less fortunate
This is counter cultural but totally liberating. The principle the more you give the more you receive. The  Proverbs 19:17 ESV says it all “ Whoever is generous to the poor lends to the Lord, and he will repay him for his deed.”

David Isaiah Angway is a Financial Evangelist

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Filed under Behavioral Finance, Parenting, Personal Finance

More than Enough

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This is an excerpt from the book More Than Enough of Dave Ramsey
Out of core values, vision is born. Vision is put into working clothes and becomes goals. Shared goals gives you unity with those who are on the journey with you. Values, vision and unity repair broken hope and build your hope into the fuel that fires the rocket of intensity. The rocket intensity is kept between the ditches by accountability and support. The pilot of the rocket ensuring that intensity stays on vision’s course is diligence. His co pilot and navigator are work and discipline. Patience that is born of power has at its center intensity, hope, vision and diligence. You can have real patience without first having those thing and when you have it relationships built and you add yet more unity. Contentment is your vision, gives you different kind of intensity definitely fuels patience, diligence, and unity while born of all those things. Giving is the result of values the vision they bring. Unity is increased by giving cause relationships are affected. You always have hope when pouring your life into something that matter. Part of the great misunderstanding is that somehow giving is the act of someone who isn’t intense or diligent when in fact the opposite is true. Patience and contentment rise to a whole new level of understanding when they bring on giving, which then in turn feeds you much of each of those.
Money is all about your behavior
that’s why money won’t solve
your money problems. – David Angway

David Isaiah Angway is a Financial Evangelist

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Filed under Behavioral Finance, Dave Ramsey, Financial Coach, Financial Literacy, Freedom Victory Over Finance, More than enough, Understand Us, You Can Make It

How to resurrect your finances this year.

Debt after debt again plus crazy purchases that you cannot stop. It seems like you are stuck in a really huge hole?  No need to give up there’s an answer to it. Yeah there are ways how to do that.
1. Pray.
Seriously, you cannot make it. No matter what you do you are going to lose control sometime in some ways you need a divine intervention that will keep you sane. I got tons of  friends who almost lost their sanity when they got into huge debt but they have one thing in common they approach God who knows about everything. Don’t Underestimate the power of communicating with Him because he will comfort you.
2. Heart surgery
Major reason why you are in debt is NOT because of SALE in all major shopping centers but you failed to acknowledge the fact that your heart is so deceitful wherein you think with your heart now. You buy with your emotions and you justify what you bought using logical manner. What a smart move right? Whenever I go to the mall and so hungry I normally end up buying food. Like that in my example whenever someone feels empty (depress, sad) and you got a cash or 40k credit line on your card that’s a dangerous combination. I bet that you will end up buying a lot more things than usual. We want our emotions to filled up temporary You need to learn how to surrender your emotions and be self  aware.
3. Accountability partner.
Ask one of your  trusted friends, relatives, or church mates to check on you. This is the power of thinking that someone is genuinely concern about your success. The bonus here is if you fail with catching up with your financial goals this person will remind or even ask you what’s happening so far.
Please take note there are many ways how to do it but to put proper foundation will never go out of style.

David Isaiah Angway is a Financial Evangelist

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Filed under Behavioral Finance, Personal Finance, Resurrect

Do you have a Masters degree in Financial Procrastination?

Have you ever tried to plan in doing a lot of things before but it seems like you have this struggle with laziness? Haha. I was one of those people before. I am still a work in progress till now especially when I am so distracted and never focus on my goals.
Breaking up with a bad habit especially in finances is like breaking up to a bad girlfriend that consumes your time, effort, energy and money. Sooner or later you will realize that it is totally worth it.
There are habits in our life that we need to admit and we need to let go so we can experience growth. We need to graduate from the following habits.
1. You got tons of excuses why you don’t have savings or investment account.
“Time is gold” whoever said those words knew exactly the value of it. In this lifetime you will earn millions but you have limited time. Get serious with your finances and start now in changing your habits and behavior. Excuses will make you weak. Pride will bring you down.
2. You have so many extra curricular activities and you put the savings and investment as the last of your priorities.
Our ability to discriminate things from the highly important goals will give us an advantage from other people. There’s no problem in going for a long vacation, buying a new car, getting a new gadget or treating your friends to a bar. But remember to manage your finances first or else  activities will manage your finances? What would you choose?
3. You made a promise at the start of the year that you will start investing but till now you never even started choosing what kind of investment you will enter.
How many years you’ve been planning for this to start? Stop thinking about it! Like what the company NIKE said “Just do it”. Do your due diligence. Research, ask, save, invest and do it again and again till you get used to it. Momentum will overflow. Many successful people are known because of what they did not because on what they know.
4. You just plan to have your budget then fail to apply it.
Putting it in a paper is like the the first step but it will take series of action before you achieve your goals. Putting it in paper will not make you win.  Finishing it thru compounding action will make a difference.
5. You planned to pay for all the debts that you have but fail to pay even the minimum of your credit card that you owe.
Let us admit, there is a global pandemic about debt mismanagement. If there’s a medicine for procrastination in paying debt i think many will subscribe or have a lifetime maintenance with it just to simply cure that part. Commitment is something that needs to be enhance. Your ability to discipline yourself and pay for your debt and save money will free you from financial procrastination
6. You are still wondering how come your money don’t last till the next pay day.
Yes it happened again? You  failed to do your assignment. Have some written vision and goals.  Do the budget. Write it down or put it in an app so you can monitor your progress. Seeing whether your growing or not will give you an idea where to make necessary adjustments.
7. You keep on buying in E-commerce thinking that you will earn because of the discount that you are getting.
What you have is a Wrong mindset! The site design was to simply earn from people with the kind of mentality that you have.
Buying in an e-commerce site will not give you savings but will encourage you to get more items and pay more resulting to a rewarding program into your brain called buying endorphins while your pocket or bank account  is having a lot of pain.
Forming those habits is not an overnight process and changing it will take time too. You might be in a season of pruning right now where you need to unlearn a lot of crazy beliefs inside your head. You should graduate from that procrastination by simply doing baby steps after baby steps. 
Pro 22:3 A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.

David Isaiah Angway is a Financial Evangelist

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Filed under Behavioral Finance, Financial Coach, Financial Literacy, Freedom, Understand Us, Victory Over Finance, You Can Make It

Common mistakes of employees during payday

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I am an employee for the last 6 yrs in my life and I notice that these are the bad habits that makes an employee have a weak savings account. Seeing the pattern is like getting out from the rat race.
1.Not paying yourself  first regardless of the SALARY amount.
– Every cut off I made sure that I put money to my savings and mutual funds. Why, because I want to afford the future. Paying myself first will give me a satisfaction. It is hard to build that in the first place specially if you don’t have discipline. But knowing that I can help the needy with my extra cash, use the excess funds to support my friends Mission trips abroad in spreading the gospel and lastly afford the future of my daughter will give me a lovely future. The question is can you afford the future?
2.Thinking about what to spend immediately.
– In our culture as Filipino we are so hyped up with the idea of consumerism. All super malls and well known boutiques or brands are here in the Philippines. They know how to feed our eyes! Marketing strategist were able to identify the behavior of every consumers that’s why massive sale also happens during the 15th and 30th of every month. You know why? Because they are aware when your money is available. Sad to say we keep on getting to their bait and most of the time we are experiencing the pecha de peligro.
3.Giving TOO MUCH to your parents/relative.
– There’s nothing wrong in giving but in reality most of us are in a sandwich generation. The reason behind it were very simple. You have an aging parents but since they don’t have sufficient amount of money at their age right now you need to support almost all the things they need now so that they can live while you are starting a family. Leaving you CASHLESS and savings less. Fast forward during your retirement age your kids will also suffer since you weren’t able to work on your finances while you are still working. Simple but it makes a lot of sense.
4.Not having a clear goal or visions.
– You are a restless  wanderer if you don’t have directions in life. You got goals in your health and your career but you don’t have any clear visions what to do with your money? I find that very odd. You need to go back to basics such as asking yourself. When do I want to be a millionaire? Where to invest in stocks?Where to retire at the age of 45? Can I afford the tuition fee of my son/daughter with my current salary now? Developing that kind of system will surely answer your current problem. I recommend you to take time to know where you at now.
5.Don’t have a good budget structure.
We normally do mental accounting upon receiving our salary and it is really fascinating  we just spend as much as possible. After 2-3 days some of us already feel that they need to file bankruptcy due to poor spending habits. Once you feel that pain in spending, have you ever tell yourself that
you won’t do it again then after the next cut off you see yourself doing the same bad habits? Once you study yourself start making small changes. Soon you will see the difference.

David Isaiah Angway is a Financial Evangelist

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Filed under Behavioral Finance, Finance Talk, Money, Money Mistakes, Payday Madness

Career mode

We just wanna share this wonderful experience during the Singles Talk : Careers (09-12-13) By Ardy Abello
He talked about many things. He’s a funny guy and his ice breakers are cool.
Here are some points from the talk.
Hand shakes:
bridge to bridge (Confidence) – when the both of the middle bridge between your thumb and pointer meets, it gestures confidence.
eye to eye (sincerity) – denotes sincerity

Winning insights about career
1. Goal-driven people will not settle for good
    – “Vision is Foresight with Insight based on Hindsight”
    – Foresight (future), insight(now) and hindsight(past)
    – “Having is a result of being”
    *a Vision will…
      a. provide direction
      b. narrow your focus
      c. dare the impossible
       “It always seems impossible until its done”
       “Impossible is not a statement, its a challenge” – Muhammad Ali
2. Outstanding and consistent performance is key when you’re aiming high
       a. Dont fit in, stand out
       b. Identify your unique strengths
        “Get someone who your weakness id your strength”
       c. Embrace change as a team
3. Lead with respect and not just with position
       -leadership is influence
       -influence by speech
       – influence in thoughts
       – influence by action
         “People follow what they see rather than what they hear”
       -influence by belief
         “GOOD leaders ask the ‘WHAT?’ while GREAT leaders ask the question ‘why?’ “
4. Discipline of the heart
*heart of CARE

Goal-driven people will not settle for good
Outstanding and consistent performance is key when you’re aiming high
Lead with respect and not just with position
Discipline of the heart
A tool versus change
1. List top five of values you have (that is being a part of your everything)
2. If 2 out of five is removed what will it be?
3. if 2 out of 3 is removed what will it be?
4. identify the remaining 1. dont lose a grip on that core value, that no matter the change is around you..its gonna be your choice.
“Its either you change them or let them change you!”
Special thanks to one of my friend and ka-Victory group @ Rey Angelo Miguel for his notes

If you have questions send me an email at

David Isaiah Angway is a Registered Financial Planner and a Financial Evangelist

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Filed under Behavioral Finance, Career Level, Focus Career, Singles