The Importance of Financial Discipline and the Right Environment

Posted by Fitz Villafuerte under Guest Posts, Inspirational, Life Lessons on September 6, 2013

Today, I’m very honored to share with you a guest post from a friend, and someone I admire, Dr. Jaime Lorenzo.

I first met Doc Jaime last year, August 31 to be exact, around 7:30 PM at Coffee Bean and Tea Leaf in Alabang Town Center.

I remember that night well, because I have written about it in my gratitude journal as one of those meetings that I never expected would have a long-term, positive impact on my life.

I’ll tell you the whole story of that some other time, and for now, let me give you Doc Jaime’s story, written in his own words, about how the IMG-Wealth Academy has helped him and his family achieve financial independence.

It’s an inspirational story that I’m proud to share with you this day.

me and doc jaime The Importance of Financial Discipline and the Right Environment

Me and Doc Jaime at the IMG office in Makati

It has often been said that without discipline, it is impossible to achieve anything. It is the single, most important ingredient of success. But what exactly is Discipline?

The most powerful definition I’ve encountered is the one given by Thomas Huxley. He said, “It is the ability to make yourself do what you should do, when you should do it, whether you feel like it or not.” How true.

In 2005, a year after passing the medical boards, I was introduced to the world of financial services, and discovered my passion for financial education. Yes, that’s right. From being a Medical Doctor, I’ve (slowly) shifted to become a Money Doctor, teaching Filipino families about financial literacy, investments, debt management, and business.

I believe that to achieve financial freedom, we have to increase our Financial I.Q., develop a strong Financial Discipline, and belong to the Right Environment. No matter how big our income is and how financially literate we are, without financial discipline and the right environment, it will be hard for us to move forward towards our goals.

In my experience, developing financial discipline is quite a challenge, especially when no one is mentoring you, and you’re surrounded with Spenders – no matter how hard you desire to build wealth, you’re likely to spend your money on gimmicks, parties, midnight sales, etc.

One of the best ways to strengthen our financial discipline is to be in an environment where saving is a culture.

The key is to associate yourself with Savers, Investors, and Mentors – people who will inspire you, stretch you, and guide you. And I found this environment in IMG-Wealth Academy.

me doc jaime and doc jocelyn The Importance of Financial Discipline and the Right Environment

Me, receiving my Upstart Training Certificate from IMG-Wealth Academy last year

May I share with you some instances on how IMG-Wealth Academy has helped Jocelyn (my wife) and me to win in our finances:

Starting Early:

As the saying goes, “Daig ng maagap ang masipag.” While some people in their 30’s still talk about concerts, gadgets, night outs, and telenovelas, we began learning money management and started our investments at age 25.

Mentoring and Application:

The fastest way to master investing is to be with millionaires, people who are really doing it. Before joining IMG-Wealth Academy, we’ve read great books by Robert Kiyosaki, Francisco Colayco, and Bo Sanchez, among others.

Being knowledgeable about finances is one thing. But we’ve come to realize that knowledge without application is useless. IMG-Wealth Academy provided us the vehicles we were looking for in creating wealth.

Positive Peer Pressure:

When we were able to save and invest P20,000 on a regular monthly basis, we became complacent and comfortable.

When we learned that a friend (six years younger than us) was saving P30,000 every month, it inspired us to move to that level. Talk about peer pressure!

Modeling of Frugality:

Our financial mentor and CEO (a very wealthy man) still uses his old Nokia phone. He was issued top-of-the-line phones several times by his telecom company.

You know what he did? He sold the new phones and invested the money in mutual funds. His principle is, as long as he can still use his phone for business, he doesn’t need a new one.

In one investment, the P30,000 he once placed is now worth over P100,000!

Long Term Thinking:

Our mentor always emphasized that building real wealth and achieving big success takes at least 10 years. Don’t fake it until you make it.

We learned to work hard and invest more, and give enough time for all our efforts and money to compound.

And because of this, we don’t fall prey to the get-rich-quick, empty promises of scams.

img warriors teams The Importance of Financial Discipline and the Right Environment

My IMG Family at the Singapore Convention

Financial Discipline of our Kids:

Jocelyn and I learned about mutual funds, insurance and healthcare at age 25, while our kids started encountering these terms at ages four and two.

In one of our conversations, we asked them, “Paano lalaki ang savings natin?

They said, “Huwag pabili nang pabili ng kung ano-ano.

Saan naman natin ilalagay ang savings natin?” we asked.

Their answer surprised us: “Sa mutual funds!

How many kids can answer like that!

Indeed, our family is blessed to belong to the Right Financial Environment. We have not fully arrived at our destination, yet, but we are right on track.

We are exactly where we want to be. And the great thing is that we are with people who are learning, growing and enjoying every step of this financial journey.

- Dr. Jaime Lorenzo

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As a member, and as someone who has attended the IMG-Wealth Academy, I have seen and experienced all the things above myself.

Indeed, it’s very rare that you find a community where “saving is a habit” and “investing is a way of life” – that’s why I’m thankful to Doc Jaime for introducing me to IMG.

And the good news is, you too, can be part of the IMG Family!

The first step is to attend the Wealth Academy’s FREE seminars, and you can read more about it HERE, or you can just sign up to attend it for FREE today through the link below:

Register HERE for FREE Seminars at the IMG-Wealth Academy

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8 Responses to “The Importance of Financial Discipline and the Right Environment”


  1. Rose says:

    So inspiring story! Thanks Fitz for sharing this. Indeed I am proud of myself to take the first step. As Doc Jaime told me, “it is never too late when it comes to practical money management”. Cheers!

  2. Thomas says:

    Associate yourself with people who will inspire you, stretch you, and guide you – So true. The right environment is instrumental in helping you to stay on the right track and keeps you motivated. Great post, thanks for bringing this up.

  3. Ricky Rumbaoa says:

    One of the best investments I have ever made! I always say this in forums whenever people ask me about IMG Wealth Academy. Surround yourself with mentors and like-minded individuals. Join IMG!

  4. Simon Elstad says:

    Outstanding and inspirational advice. Couldn’t agree more. The right environment and associations will propel one to greater heights since you will always have someone in your circle to challenge and mentor you to be the best version of yourself and attempt even bigger things financially.
    Mentors also make even the toughest things seem possible to other people.
    As Dr. Jaime points out, at the end of the day, it boils down to financial discipline and some hard work!

  5. JoMi says:

    Hi, Fitz! Nowadays, to survive each day is getting tougher and tougher. If you are a typical worker who live from paycheck to paycheck, you would or should I say, you should understand how important it is to get out of the rat race. It’s inspiring to read stories like this, especially, those parents who teach their kids early how to save and invest. Kudos to Dr. Jaime! :)

  6. jaime says:

    Thank you guys! Prosper!

  7. Jesse says:

    Kids talking about mutual funds?! Nice! :)

  8. Very interesting stories. Discipline is important to maintain your spending habits in order to have room for savings. Living below your means is one of the secret of the rich. They can save more money while maintaining their level of cost of living at the same time working to earn more income from different assets

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