5 ‘Pinoy’ money habits to break

[wezz_zzew]

Mas madami ako kakilala na mayaman na barat. Yung mga average lang, sila pa yung mga galante. Living their life to the fullest. Hindi mo madadala ang pera sa hukay.


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[dr. d]

e, hindi ba yumaman siya dahil hindi magastos?
thrift is a virtue that is appreciated only later.
and i don't intend to bring my money to the grave. libre naman lahat sa 'taas, 'di ba?
i intend to leave it to my surviving family.

[Gumusut_Amige]

i don't intend to bring my money to the grave

same practice for me... but then again, not overdoing it to the extent that i'll spend everything and nothing left for the rainy days.
if i had practiced the 10% rule since started working... siguro retired na ako sa aking current work

[Retz]

Mas madami ako kakilala na mayaman na barat. Yung mga average lang, sila pa yung mga galante. Living their life to the fullest. Hindi mo madadala ang pera sa hukay.


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Madami din akong kilala na ganyan sir. Sa klase ny kotse na gamit nila makikita mo na kung kuripot ba o galante.



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[jut703]

One thing I wish I knew earlier was the importance of investing.

We're all taught to save as kids, but then what? More often than not, our savings stagnates in the bank. The fact that only 1% of Filipinos invest in the stock market is telling.

I wonder why they teach "saving" as a value in school but not "investing".




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[Retz]

^

May risk involve kasi ang investing sir kaya savings muna habang bata after school na ung investing.


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[greatauror28]

maybe Pinoys could learn a thing or two form sir Li Ka-Shing.

Li Ka-Shing teaches you how to buy a car & house in 5 years

Single, earning Pinoys without sibilings to go through college and/or parents to support can definitely follow his teachings.

But Pinoys like that are one in a hundred thousand, or maybe a million.

Then again, we should always find ways of alloting something for our savings account especially rainy days comes with no telling.

[jut703]

^

May risk involve kasi ang investing sir kaya savings muna habang bata after school na ung investing.


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Thinking like this is why very few people invest.

For a kid who has a few thousand pesos worth of savings, putting it in a few blue chip stocks will see his money double in about a decade. Putting it in a bank would have it depreciate drastically over the same period, while spending it excessively on toys would have the money disappear instantly.

Even less worrisome is putting the money in a mutual fund. Less potential for growth but most likely to still beat inflation even if you choose a conservative approach (primarily bonds).

Imagine the power of compounding if a kid put 100 pesos per month as well as a fraction of his Christmas loot into investments from age 10. I wish my parents taught me that when I was a kid. Unfortunately, to this day they are still uneducated when it comes to investment vehicles.



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[Retz]

^

I think the key here is about discipline on saving money as a kid of course kid could opt to invest in mutual funds, insurance, stocks etc. as he grows up and have already little knowledge about those things.

[miLes]

One thing I wish I knew earlier was the importance of investing.

We're all taught to save as kids, but then what? More often than not, our savings stagnates in the bank. The fact that only 1% of Filipinos invest in the stock market is telling.

I wonder why they teach "saving" as a value in school but not "investing".




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it is easier to teach to save than to invest. kasi mismo teachers dont know where to invest or they themselves have no investments. So it is up to the parents to teach their own kids on how to invest.