Cityland co-founder offers the ABCs to a debt-free life at book launch

Cityland founder and vice chairman Andrew Liuson

At the sidelines of the launch of his new book "The Debt-Free Lifestyle" in Ortigas, Cityland Group of Companies co-founder and vice chairman Andrew I. Liuson enumerated nine principles for a debt-free life.

"I was a giving a talk on the ten commandments of a debt-free lifestyle. To make it easy for other people, I used ABCDEFGHI," he told GMA News Online.

A - We are just administrators

"We are stewards. We come empty-handed, we leave empty-handed," Liuson said, noting that we must realize that we have all been born to nothing.

"We are just administrators or stewards of what God gave us."

The businessman said that realizing this makes one less eager to accumulate material things.

B - Budgeting is important

Most people spend all they have, which effectively causes expenses to accumulate.

C - Handle credit card problems

Without going into much detail, Liuson said that "a lot of people have big credit card problems."

D - Demolish debt

"Pay [your debts] as soon as possible. Don't wait for tomorrow," Liuson said.

E - Realize the value of education...

Education is "the most important part," said Liuson, because it serves as the equalizer to get people out of poverty.

F - And family planning

Family planning not only entails planning the birth of the children, but extends to their education as well.

G - Be grateful and generous

"You have to be thankful for what you have to God, your parents, your employers. [A good] attitude makes a good and generous person," Liuson said.

"No matter how poor you are, you can still share with others."

Dr. Andrew C. Liuson says there is no substitute for hard work. Photo courtesy of CSM Publishing

H - Hard work and honesty are vital

There is no substitute for hard work, said Liuson. People must strive to achieve their goals; there are no short cuts. "Anything that sounds too good to be true is too good to be true," he said.

I - Invest

Liuson also urges people to invest in savings and long-term commitments.

Liuson said that he has a tenth tip for a debt-free life, but said that it is "a secret formula. You have to look it up [in the book]."

"The Debt-Free Lifestyle" is available in leading bookstores in Metro Manila, with an initial release of 100,000 copies.

According to Liuson, the book is set to be released nationwide as well, and may even come in a ebook format set to be available globally. — BM, GMA News