Breaking the Sakto Lang Mindset: Wealth Building Strategies with David Angway

Breaking the "Sakto Lang" Mindset: Strategies for Lasting Wealth Expert Financial Stewardship by David Angway, RFP.

[0:00] – How to overcome a scarcity mindset? Why "Sakto Lang" prevents financial growth.

[1:45] – Why do I live paycheck to paycheck? Understanding the psychology of scarcity.

[4:10] – How to handle social pressure to spend money? Navigating lifestyle inflation at work.

[6:30] – How can ordinary earners build wealth? Taking control of your financial future.

[9:15] – How to break the cycle of poverty? Three essential starter moves for success.

[12:40] – What are common money myths that keep you poor? Debunking wealth-draining lies.

[15:55] – Why is financial discipline important? Moving beyond "Sakto" in a high-cost economy.

[18:20] – How to automate your savings? Technical strategies to pay yourself first.

[21:10] – How to build generational wealth? Shifting from daily survival to a lasting legacy.

[23:00] – How to find happiness and financial freedom? Final thoughts on purpose-driven wealth.

Follow the Money: Breaking the "Sakto Lang" Mindset

Host: Robert

Guest: David Isaiah Angway (Registered Financial Planner)

Robert: Today on Follow the Money, we’re tackling the "Sakto Lang" mindset that holds many Filipinos back from building real wealth. With rising costs and financial stress, how can ordinary earners take control? Joining us is Registered Financial Planner David Angway. David, what separates those who stay stuck in the "Sakto Lang" cycle from those who build real wealth?

David: The "Sakto Lang" mindset is rooted in survival. Wealth builders are obsessed with three different questions:

• How do I grow my money?

• How do I scale my current area?

• How do I multiply what I have? People stuck in the survival mindset focus only on how to keep what they have and how to avoid risk entirely.

Frequently Asked Questions (FAQ)

Robert: Why do even educated Filipinos still fall for financial scams?

David: It often comes down to the "DIY" (Do-It-Yourself) culture and the lack of professional consultation. Even high-earning professionals like doctors or engineers often believe they can manage complex investments alone. Here is why people fall into traps:

• Greed vs. Education: Many focus on high returns without understanding the underlying asset.

• Lack of Licensing: People trust unlicensed individuals with their life savings. You wouldn't trust a driver without a license; don't trust your money to someone without professional credentials.

• Clouded Judgment: When we have a lot of money, our judgment can become clouded by the fear of missing out (FOMO).

Robert: How does financial stress at work impact productivity?

David: If an employee is worried about debt or "petsa de peligro" (the struggle before payday), they aren't focusing on their tasks. Financial stress leads to:

• Presenteeism: Being at work physically but mentally distracted by bills.

• Health Issues: High stress leads to physical ailments, increasing sick leaves. Companies are now realizing that financial wellness programs are a necessity, not just a perk.

Robert: What are the first steps to move from "Sakto" to "Wealthy"?

David: It starts with a shift in your internal dialogue. You must move from a "Survival" mindset to a "Stewardship" mindset.

• Audit Your Habits: Identify if you are spending to impress others or building for your future.

• Ask the Right Questions: Stop asking "Can I afford this?" and start asking "How can this money generate more?"

• Seek Professional Advice: Move away from the DIY mentality and consult a Registered Financial Planner to create a personalized roadmap.

Rapid Fire Round: Financial Green Flags vs. Red Flags

Robert: David, let’s do a quick lightning round. Just give me a "Yes" or "No."

• Is retail therapy a legit money move? David: Yes (in moderation, if it’s planned).

• Is it okay to lie about your salary to avoid "balato" or "libre" expectations? David: No. (Set boundaries instead).

• Is financial confidence hotter than it looks? David: Yes.

• Is it okay to fall in love but keep bank accounts separate? David: Yes.

• Is splitting the bill on a first date a green flag? David: Yes.

• Is a fat bank account a bigger turn-on than a fast car? David: Yeah!

Robert: Finally, David, complete the sentence: "Money is the root of all..."

David: "...of all your happiness!" (if managed correctly).

Robert: Thank you, David, for these practical tips that make building wealth feel doable, not daunting.