Talkshow Thursday: Welcome Back Ruth Wuwong!

Invest in Education

By Ruth Wuwong

In my book, Are Your Health and Finances Linked? A Christian Entrepreneur’s Quest (released in 12/2022, https://www.amazon.com/dp/B0BQ5JXFYY), I talked about my investment strategies. Here is an excerpt from the book. I’ve also made a video about the topic. If you’re interested, please click this link, https://www.youtube.com/watch?v=9WC9DxuCl2Y. Before we invest in the stock market and other productive assets, I must emphasize that investing in education to broaden your knowledge will help you achieve your financial goal in the long run.

I mentioned previously that my husband, Ken, is a retired pastor, and I’m a biochemist by training. A few years after we got married, the amount in our combined checking account improved a bit, from less than fifty dollars to a few hundred dollars.

The pastor’s pay wouldn’t impress anyone, but it was decent. Working for a pharmaceutical company, I made twice as much as Ken. With our combined income, why did we still struggle to pay bills every month?

I realized both of us knew nothing about finances.

After many prayers, I sat my dear hubby down for a chat. “One of us must learn how to manage money. You or me? Take your pick.”

The answer? Me.

Ken had no interest in money at all. Otherwise, he wouldn’t have quit his civil engineering job to become

Pixabay/
David Schwarzenberg

a pastor. In the beginning, I went to the library and read quite a few books about the stock market, bonds, mutual funds, etc. The more I studied, the more frustrated I felt. In the end, I concluded that if I wanted to do it right, I should try to get a complete education. So, I bit the bullet and entered the University of Illinois for my MBA degree in finance. I must admit that those years were very challenging because I worked during the day and attended school at night. Even as an in-state student, the tuition fees became a burden. I had to forego a few “must-haves.” We grew most of our vegetables in the summer, seldom ate out, and only bought second-hand furniture and cars. I learned to purchase my formal outfits (e.g., two-piece suits) at Goodwill and the Salvation Army.

After four years and about $20,000 out of my pocket, I completed the program. Boy, was it worth it!

I didn’t change my career path and mainly used my knowledge to manage our own finances. And what a difference it made. In a short while, the combined number of our checking, saving, and brokerage accounts increased to more than $50,000.

Along the way, we not only learned to manage our money but also gained some precious insights.

First, owning things brings short-lived pleasure, but knowledge, like experience, stays with us for a lifetime.

Second, learning broadens our perspective and enriches our worldview. Getting skills related to your job or about how to manage money is outstanding. Yet obtaining new knowledge on various subjects (e.g., gardening, different cultures and cuisines, music appreciation, a new language, etc.) unrelated to your work can make your life more interesting and enhance your relationship with others.

Pixabay/Pexels

Third, don’t attempt to keep up with the Joneses. Stick to your principles and be content. As an example, I used to have a subordinate who drove a Mercedes. At one point, especially after we had acquired a sizable asset, I asked Ken, “Should we consider replacing our old Toyota Camry with a Mercedes?”

My wise hubby replied, “Why? Is it necessary? It’s not just the upfront payment. The additional expenses, such as insurance, repairs, and maintenance, are all higher.”

Yeah, he was right. 

About Ruth:

While in high school, I used to go to the library, read every book on one shelf, and then move on to the next. Reading and writing are very important to me. It seems I have a longing that can’t be satisfied by reality. I love to escape into books and become someone graceful, witty, and popular.

Currently, I work for a small biotech company and have published 120+ scientific books and papers (under a different name). I’m a latecomer to creative writing. So far, I’ve published three books. Here are the links for my books:

The Way We Forgive (fiction): https://www.amazon.com/dp/B0BQ5LNLNB

Love at the Garden Tomb (fiction): https://www.amazon.com/dp/B0B8MK77WK

Are Your Health and Finances Linked? (Nonfiction): https://www.amazon.com/dp/B0BQ5JXFYY

I’m married to my wonderful husband, a retired pastor who encourages me to pursue my dreams. We served together at three different churches from 1987 to 2020.

I would love to connect with you. You can drop me a note anytime at http://www.ruthforchrist.com.