5 ‘Pinoy’ money habits to break

[Retz]

5 ‘Pinoy’ money habits to break



MANILA, Philippines — Filipino time, ningas kugon, colonial mentality.

We hear these phrases often – when a colleague arrives late for a meeting, when a subordinate fails to deliver on a project he was so eager to take at the beginning, or when a friend buys an imported brand even if the local counterpart is better in quality and cheaper.

We refer to these as "ugaling Pinoy."

These habits hold us back in school, work, in our relationships, and even financially.

Are you guilty of any of these habits? Now is the best time to get rid of them.

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5 ?Pinoy? money habits to break

5 ?Pinoy? money habits to break

[_Cathy_]

My friends and I talked about how much money we spend eating out, panlilibre and buying gifts for each other. I guess for now okay lang since none of us have children yet.

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[shibby75]

Those filipino habits are not that bad. Basta umiikot sa barkada at hindi ikaw palagi taya.

Pag yan palagi bukambibig ng kaibigan mo eh freeloader na yon. ;-)

[LiveLoveInvest]

In addition to this I think filipinos should add investing habits especially kung bata pa lalo na if wala pang responsibility or pinapakain na pamilya.

Like what I always tell to people especially friends and family "today we have our jobs but tomorrow we have our investments"

No matter how big or small an investment will always be an investment in the long run.

[_Qwerty_]

i agree.. invest while you're still young.. di naman kailangan bigtime agad.. you can start with your pag ibig contribution.. although some companies only requires 100.00 pesos employee and employer share (200 a month).. you can actually contribute more.. imbes na 100 lang.. make it 1000 or 2000 a month or even 5000 a month.. maganda dito automatic binabawas sayo.. so hindi ka pwede pumalya.. this earns dividends and tax free if you decide to withdraw it in 10, 15 or 20 years time.. 5000 a month + 100 from your employer that's 5,100 a month x 12 = 61,200 per year.. that's 612T in 10 years or 1.22M in 20 years.. plus dividends of at least 4% per annum.. you wouldn't notice it pero naka 10 years ka na pala.. or even 20 years..

[Retz]

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

[dr. d]

e, papano naman kung may ka-barkadang hindi naman ganun ka-yaman...?
i mean, kung gusto nating manlibre, manlibre tayo. nguni at huwag naman tayong a-asa na ii-lilibre rin tayo balang araw..

[crazy_boy]

yung isang tao ko, mayaman naman sila. Dad niya CFO ng isang big time company dito sa pinas. pero ang pangit ng ugali. bukang bibig niya parati is: libre ka naman.

[dr. d]

yung isang tao ko, mayaman naman sila. Dad niya CFO ng isang big time company dito sa pinas. pero ang pangit ng ugali. bukang bibig niya parati is: libre ka naman.

maybe no one ever asked him, "bakit?"

[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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[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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[miLes]

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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kuripot ako, if im able to save 50 or even 20 pesos gagawin ko. if i have to walk 200m to save atm fee gagawin ko but one thing na hindi ako kuripot is if it concerns buying something for my family. for me, any money saved is money available for investing.

one thing we should adapt is always buying the best value.

[dr. d]

kuripot ako, if im able to save 50 or even 20 pesos gagawin ko. if i have to walk 200m to save atm fee gagawin ko but one thing na hindi ako kuripot is if it concerns buying something for my family. for me, any money saved is money available for investing.

one thing we should adapt is always buying the best value.

i used to walk double the distance, to save a few cents... until i did some computations. it cost me more to buy a new pair of shoes because i wore them out more, than the savings i got walking the extra distance.

[Retz]

i used to walk double the distance, to save a few cents... until i did some computations. it cost me more to buy a new pair of shoes because i wore them out more, than the savings i got walking the extra distance.

Maybe your new pair of shoes is expensive sir that's why no savings.


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[LiveLoveInvest]

Post denied. New posts are limited by number of URLs it may contain and checked if it doesn't contain forbidden words.

What does this mean????

[miLes]

i used to walk double the distance, to save a few cents... until i did some computations. it cost me more to buy a new pair of shoes because i wore them out more, than the savings i got walking the extra distance.

sir, kung cents lang masasave ko hindi nalang ako maglalakad hehe locally made shoes will last about 1-1.5 years, sneakers or rubber shoes will last at least 3 years, you must have made alot of walking on hard ground

negligible naman ata ang wear sa shoes if you walk about 200m, ibang usapan if 200m dash gagawin mo hehe

[LiveLoveInvest]

In long term investing time is really the key and not timing.

I just recently joined an investment firm that specialize on mutual funds, just last week there was this man around 40s who invested 35,000 on an equity mutual fund last 1998. He totally forgot about his investment up until last week. When he requested for an updated SOA, he was so surprised to see that his 35k turned into 398,000 in a span of 16 years. He kept saying what if he invested more. If he would have invested more im quite sure he would have immediately retired at that moment. :D

Then i came to the realization na if i start today since im in my early 20's i could be that person come 2034 except that i know i should invest more and regularly.

[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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[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.

[Retz]

^

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


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