{"id":11187,"date":"2017-09-20T17:01:25","date_gmt":"2017-09-20T17:01:25","guid":{"rendered":"https:\/\/keblog.demoapp.xyz\/?p=11187"},"modified":"2022-11-15T11:18:34","modified_gmt":"2022-11-15T04:18:34","slug":"the-top-money-problems-that-executives-face-and-how-to-solve-them","status":"publish","type":"post","link":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them","title":{"rendered":"The Top 4 Money Problems That Executives Face\u2014And How To Solve Them"},"content":{"rendered":"<p>David, 38, has been stationed in the Philippines for a decade now. As the regional director of a foreign digital marketing firm, he is responsible for handling teams of marketing officers to make sure they deliver the best metrics to their clients. He says he\u2019s earning more than enough to comfortably live in one of the most upscale townships in Metro Manila. \u201cOver P200,000 per month is all I\u2019m willing to say on this,\u201d he says. Despite this, he makes sure every month that he puts part of his earnings on different forms of investment.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cI personally hold an investment portfolio of about 70% in stocks and shares and 30% in cash cryptocurrency,\u201d he shares. \u201cEach month I try and use at least one-third of my salary for cash savings or stock purchases.\u201d While it seems like David already has figured out how to spend his hard-earned money as a director here, he\u2014like any other person in a directorial or executive position\u2014is still prone to financial pitfalls that are exclusive to the people on top of the food chain. Is it really lonely at the top\u2014even financially? We talked to two high-earning people to find out.<\/p>\n<h3><\/h3>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_26 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">TOPICS<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><label for=\"item\" aria-label=\"Table of Content\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/label><input type=\"checkbox\" id=\"item\"><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Problem_1_Keeping_up_with_the_Joneses\" title=\"Problem # 1: Keeping up with the Joneses\">Problem # 1: Keeping up with the Joneses<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Solution_2_Strike_a_balance_between_saving_and_spending\" title=\"Solution #2: Strike a balance between saving and spending\">Solution #2: Strike a balance between saving and spending<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Problem_3_Youre_pressured_to_meet_your_subordinates_expectations\" title=\"Problem # 3: You&#8217;re pressured to meet your subordinates\u2019 expectations\">Problem # 3: You&#8217;re pressured to meet your subordinates\u2019 expectations<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Solution_4_Learn_how_to_say_no\" title=\"Solution #4: Learn how to say no\">Solution #4: Learn how to say no<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Problem_5_You_dont_get_your_hands_dirty\" title=\"Problem # 5: You don\u2019t get your hands dirty\">Problem # 5: You don\u2019t get your hands dirty<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Solution_6_Learn_more_about_personal_finance\" title=\"Solution #6: Learn more about personal finance\u00a0\u00a0\">Solution #6: Learn more about personal finance\u00a0\u00a0<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Problem_7_You_splurge_on_the_wrong_things\" title=\"Problem #7: You splurge on the wrong things\">Problem #7: You splurge on the wrong things<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Solution_8_Pay_yourself_first_every_now_and_then\" title=\"Solution #8: Pay yourself first every now and then\">Solution #8: Pay yourself first every now and then<\/a><ul class=\"ez-toc-list-level-4\"><li class=\"ez-toc-heading-level-4\"><ul class=\"ez-toc-list-level-4\"><li class=\"ez-toc-heading-level-4\"><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#This_article_was_contributed_by_eCompareMo_the_Philippines_largest_financial_supermarket_for_credit_card_loan_and_insurance_services\" title=\"This article was contributed by eCompareMo: the Philippines\u2019 largest financial supermarket for credit card, loan, and insurance services.\">This article was contributed by eCompareMo: the Philippines\u2019 largest financial supermarket for credit card, loan, and insurance services.<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-4\"><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Still_on_the_job_hunt_Click_here_and_see_which_opportunities_are_in_store_for_you\" title=\"Still on the job hunt?\u00a0Click here\u00a0and see which opportunities are in store for you.\">Still on the job hunt?\u00a0Click here\u00a0and see which opportunities are in store for you.<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-4\"><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/neo-blog.kalibrr.com\/blog\/id\/the-top-money-problems-that-executives-face-and-how-to-solve-them\/#Kalibrr_is_now_on_Android_Click_here_to_download_our_app_on_the_Play_Store\" title=\"Kalibrr\u00a0is now on Android!\u00a0Click here to download\u00a0our app on the Play Store.\">Kalibrr\u00a0is now on Android!\u00a0Click here to download\u00a0our app on the Play Store.<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Problem_1_Keeping_up_with_the_Joneses\"><\/span><b>Problem # 1: Keeping up with the Joneses<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-11190\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_610703828.jpg\" alt=\"\" width=\"1000\" height=\"750\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_610703828.jpg 1000w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_610703828-300x225.jpg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_610703828-768x576.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><br \/>\nDavid admits he had an instant lifestyle upgrade when he was promoted to the regional director post. \u201cI think this is part and parcel of career growth,\u201d he reveals. \u201cYou want bigger TVs, more gadgets, nicer holidays, better food.\u201d To the uninitiated, lifestyle inflation is the direct correlation between income and spending: the more money you earn, the more you spend. Problems arise when a person who gets a raise marks his lifestyle upgrades as \u201cnecessities,\u201d leaving him with little or nothing to spend on savings and investment. Worse, lifestyle inflation can also lead to crippling debt.<\/p>\n<h3><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Solution_2_Strike_a_balance_between_saving_and_spending\"><\/span><b>Solution #2: Strike a balance between saving and spending<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While one cannot deny the happiness brought by fancy jewelry and dapper suits, you can mitigate this by making your money grow by saving and investing. Jendee Sapo-de Guzman, a Registered Financial Planner, says in an <a href=\"http:\/\/www.philstar.com\/cebu-business\/2017\/05\/16\/1700291\/lifestyle-inflation-good-or-bad\" target=\"_blank\" rel=\"noopener\">interview<\/a> that enjoying the fruits of your labor isn\u2019t so bad, but one must carefully balance \u201csaving for the future, mindful spending and enjoying life.\u201d &#8220;For so long as the cashflow permits, plus an emergency fund set up, it is fine to spend on something they want,&#8221; De Guzman explains.<\/p>\n<h3><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Problem_3_Youre_pressured_to_meet_your_subordinates_expectations\"><\/span><b>Problem # 3: You&#8217;re pressured to meet your subordinates\u2019 expectations<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-11192\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_163595864.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_163595864.jpg 1000w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_163595864-300x200.jpg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_163595864-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><br \/>\nDavid said he\u2019s always been generous to the people around him. He would use money out of his own pocket to treat employees to weekly nights-out, out-of-town holidays, and team dinners to keep their morale high. However, some of his employees started expecting him to pay for everything in the long run, which caused him disappointments and huge credit card bills after.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Solution_4_Learn_how_to_say_no\"><\/span><b>Solution #4: Learn how to say no<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to Susan Newman, author of The Book of NO\u2014250 Ways to Say It\u2014and Mean It and Stop People-Pleasing Forever, being a \u201cyes man\u201d can cause exhaustion, both in your energy as well as finances. \u201cMost of us want to be viewed as a team player, supportive of our colleagues and working together for the good of the organization,\u201d she said in an <a href=\"https:\/\/www.fastcompany.com\/3053996\/your-ultimate-guide-to-saying-no-to-people-you-cant-say-no-to\" target=\"_blank\" rel=\"noopener\">interview<\/a> with <i>Fast Company<\/i>. To effectively say no, she says one should avoid lengthy explanations that would give people a chance to second-guess your position or even make a counter-offer.<\/p>\n<h3><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Problem_5_You_dont_get_your_hands_dirty\"><\/span><b>Problem # 5: You don\u2019t get your hands dirty<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Newton, an assistant vice president of a Makati-based firm, built his own business through two things: a <a href=\"https:\/\/www.ecomparemo.com\/personal-loan\" target=\"_blank\" rel=\"noopener\">personal loan<\/a> he borrowed from the bank and constant enrichment of his knowledge. \u201cI spend more on education and personal development than clothes and other things. It still has something to do with my image,\u201d he said. \u201cThe more I understand how money works, the more inclined I get in investing and in trying to build my retirement portfolio.\u201d Unfortunately, not everyone is hands-on when it comes to their finances. Some leave their entire wealth in the hands of other people.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Solution_6_Learn_more_about_personal_finance\"><\/span><b>Solution #6: Learn more about personal finance<\/b>\u00a0\u00a0<img loading=\"lazy\" class=\"alignnone size-full wp-image-11194\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_105840662.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_105840662.jpg 1000w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_105840662-300x200.jpg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_105840662-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Even if you\u2019re taking home a huge paycheck, it won\u2019t mean a thing if you have no idea what to do with it. Financial education is key to success. Without a solid foundation on how finance works, the only thing you will do with your money is spend it. Rather than instant gratification, the goal should always be to use the money you earn to attain financial freedom in the future.<\/p>\n<h3><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Problem_7_You_splurge_on_the_wrong_things\"><\/span><b>Problem #7: You splurge on the wrong things<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img loading=\"lazy\" class=\"alignnone size-full wp-image-11188\" src=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_644370331.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_644370331.jpg 1000w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_644370331-300x200.jpg 300w, https:\/\/neo-blog.kalibrr.com\/blog\/wp-content\/uploads\/2022\/10\/shutterstock_644370331-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><br \/>\nBoth our subjects admit that, at some point, they bought themselves big-ticket items. They see this as a reward for their hard work. Newton said that he bought himself a car and a condominium unit after his last promotion. According to him, he never missed a payment and even spoiled his car with upgrades and the <a href=\"https:\/\/www.ecomparemo.com\/vehicle-insurance\" target=\"_blank\" rel=\"noopener\">best car insurance<\/a> he could afford. Meanwhile, David charged some expensive item to his <a href=\"https:\/\/www.ecomparemo.com\/credit-card\" target=\"_blank\" rel=\"noopener\">credit card<\/a> \u201cwith debt being so cheap at the moment it kind of makes sense to do it this way.\u201d However, he said that he would avoid subsequent purchases of expensive items to prevent his credit cards from spiraling out of control.<\/p>\n<h3><\/h3>\n<h2><span class=\"ez-toc-section\" id=\"Solution_8_Pay_yourself_first_every_now_and_then\"><\/span><b>Solution #8: Pay yourself first every now and then<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the field of personal finance, delayed gratification is king. However, there are times splurging can be good for your financial health, especially if you can afford it. According to a <a href=\"https:\/\/www.forbes.com\/sites\/learnvest\/2015\/06\/17\/the-budget-friendly-guide-to-treating-yourself-with-smart-splurges\/#5b3676344959\" target=\"_blank\" rel=\"noopener\">Forbes article<\/a>, \u201cfrugality fatigue\u201d happens \u201cwhen you get tired of being too restrictive with your spending\u2014causing you to go overboard when you do finally crack open your wallet.\u201d Some of the ways to combat frugality fatigue is by adding a variety on your big-ticket items and keeping your splurge proportionate to your budget.<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h4><span class=\"ez-toc-section\" id=\"This_article_was_contributed_by_eCompareMo_the_Philippines_largest_financial_supermarket_for_credit_card_loan_and_insurance_services\"><\/span><em><strong>This article was contributed by <a href=\"https:\/\/www.ecomparemo.com\/\" target=\"_blank\" rel=\"noopener\">eCompareMo<\/a>: the Philippines\u2019 largest financial supermarket for credit card, loan, and insurance services.<\/strong><\/em><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Still_on_the_job_hunt_Click_here_and_see_which_opportunities_are_in_store_for_you\"><\/span><strong><em>Still on the job hunt?\u00a0<a href=\"https:\/\/www.kalibrr.com\/job-board\/w\/200-fresh-grad-%252f-entry-level\/1?utm_source=b2c-blog&amp;utm_medium=anchor-text&amp;utm_campaign=blog-cta&amp;utm_content=freshgrad-struggles-060827-june-2017&amp;ref=b2c-blog_free_blog-cta_freshgrad-struggles-060827-june-2017\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0and see which opportunities are in store for you.<\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Kalibrr_is_now_on_Android_Click_here_to_download_our_app_on_the_Play_Store\"><\/span><strong><em><a href=\"https:\/\/www.kalibrr.com\/?utm_source=b2c-blog&amp;utm_medium=anchor-text&amp;utm_campaign=blog-cta&amp;utm_content=freshgrad-struggles-060827-june-2017&amp;ref=b2c-blog_free_blog-cta_freshgrad-struggles-060827-june-2017\" target=\"_blank\" rel=\"noopener\">Kalibrr<\/a>\u00a0is n<\/em><i>ow on Android!\u00a0<a href=\"https:\/\/bit.ly\/kalibrr-app-bl\" target=\"_blank\" rel=\"noopener\">Click here to download<\/a>\u00a0our app on the Play Store.<\/i><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>David, 38, has been stationed in the Philippines for a decade now. As the regional director of a foreign digital marketing firm, he is responsible for handling teams of marketing officers to make sure they deliver the best metrics to their clients. He says he\u2019s earning more than enough to comfortably live in one of [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":11196,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[96],"_links":{"self":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts\/11187"}],"collection":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/comments?post=11187"}],"version-history":[{"count":0,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/posts\/11187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/media\/11196"}],"wp:attachment":[{"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/media?parent=11187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/categories?post=11187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neo-blog.kalibrr.com\/blog\/id\/wp-json\/wp\/v2\/tags?post=11187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}