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Donny Pangilinan opens up about a money lesson he learned on his own, admitting he has made impulsive purchases and now understands the importance of being more responsible with his finances.

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Transcript
00:00What's an adult skill that you learned on your own, and what's your journey through that?
00:08A skill that I learned on my own.
00:14Because you can get so much advice from so many people, but until you really go through it, it's also
00:20a lesson.
00:21So there are a lot of things told to me already, but it's very, very different when you're with it
00:29first-hand.
00:31I remember when I first started earning, of course, I was happy because there's money that I don't have to
00:38pay for.
00:39I was just a teenager.
00:41So I would spend and use these things.
00:43For me, I thought that would give me happiness and that would make me fulfilled.
00:48But it's really only temporary, you know, those specific things.
00:52And I'm not saying to not reward yourself.
00:56But that's very important also.
00:58Because especially if you work very hard, these are also the things you look forward to.
01:02But it all has to be, you know, balanced.
01:07And you have to know when to spend a certain amount and when to not.
01:11So kind of that, I had to learn the hard way that, you know, the financials need to be balanced.
01:19And it's not every day that you'll probably have this amount coming in and you have to think about the
01:23future.
01:24You have to set up a system.
01:25If you don't work anymore, would it be able to move for you?
01:28So those things, I think those things I learned firsthand.
01:33And I still take into consideration today.
01:38Even the insurance policies, a lot of those I learned from an advisor and I had to see them firsthand
01:46really.
01:48Knowing what that does and knowing what the possibilities of that are in the future.
01:54I didn't know because a lot about insurance policies. Not a lot.
01:59But there are so many different products.
02:01And it's really about what caters to your likeness.
02:05What caters to something that will benefit you more.
02:08What are your needs? Where are your priorities?
02:11I have to experience that also firsthand.
02:15Opening a business, I have to experience that firsthand also.
02:17Like a lot of the things they teach in school.
02:22Yes, they're helpful.
02:23But there are also real-life scenarios.
02:25Like choosing the best partners.
02:30Creating a concept that hopefully works.
02:33Because nothing is for sure.
02:35That's what we're going to do.
02:37So a lot of trial and error.
02:40But yeah, I think get the mix of both.
02:43It's learning from those who have done it already.
02:47Because they already made the mistake.
02:49So it's almost like a cheat code.
02:50But you also have to go through it.
02:52You also have to show up.
02:53You also have to do the work.
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