Typical Filipino Depositor’s Bank Balance...

[chronicle]

status symbol sa pinas yang bahay at kotse

I understand the house pero kotse not much

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In a sea of masses. Dyan ka makikitang naka angat.

Ui, di na nag mmrt o jeep. De kotse na.
Ui lumipat na sa mas magandang neighborhood.

Unfortunately, yan talaga ang mindset since generally, mas maraming poor dito. And nahahawa yung mga weak minded sa ganyan.


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[_Cathy_]

In a sea of masses. Dyan ka makikitang naka angat.

Ui, di na nag mmrt o jeep. De kotse na.
Ui lumipat na sa mas magandang neighborhood.

Unfortunately, yan talaga ang mindset since generally, mas maraming poor dito. And nahahawa yung mga weak minded sa ganyan.


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It's easy to buy a car but it's not easy to move to a nice neighborhood. I've friends who live in nice addresses but when they got married, they couldn't even afford a house where they grew up in.

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[MR_BIG18]

You're probably asset rich bro, kaya you still feel poor

Is the asset performing? If not sell and acquire one that does..

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[MR_BIG18]

This makes more sense to me to be honest.

Baka siguro kaya i feel poor kasi i am not liquid and i did double check my bank account just now. lol

But when I look at the bigger picture including investments like stocks, businesses interests, and other investment... hehe

Thank you for this i just realised how far i've come since i finished school.

How bout your liabilities?

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[BlancNoir]

How bout your liabilities?

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Just the car my parents gave me as my graduation gift which would be around 15 to 20k a year for pms, registration, and insurance.

My daily living expenses are paid for by the company.

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[chronicle]

It's easy to buy a car but it's not easy to move to a nice neighborhood. I've friends who live in nice addresses but when they got married, they couldn't even afford a house where they grew up in.

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Kaya nga typically, unang binibili is kotse kasi low hanging fruit.
Sunod bahay naman pag may extra.
Sa point of view naman ng masses, maka move ka lang sa ibang lugar na mas maayos, naka angat ka na ibig sabihin. Their baseline is low already na any improvement on your current one is a big one for them.

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[MR_BIG18]

Just the car my parents gave me as my graduation gift which would be around 15 to 20k a year for pms, registration, and insurance.

My daily living expenses are paid for by the company.

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Credit and loans? Etc..if zero, youre in a better that most people.. your income has the power to earn more money thru savings and investments...kaysa pambayad ng utang..

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[madball]

In a sea of masses. Dyan ka makikitang naka angat.

Ui, di na nag mmrt o jeep. De kotse na.
Ui lumipat na sa mas magandang neighborhood.

Unfortunately, yan talaga ang mindset since generally, mas maraming poor dito. And nahahawa yung mga weak minded sa ganyan.


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Dapat siguro isama na sa HS curriculum ang personal finance.

[_Cathy_]

Kaya nga typically, unang binibili is kotse kasi low hanging fruit.
Sunod bahay naman pag may extra.
Sa point of view naman ng masses, maka move ka lang sa ibang lugar na mas maayos, naka angat ka na ibig sabihin. Their baseline is low already na any improvement on your current one is a big one for them.

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Akala ko naman nice neighborhood with 9 digit houses

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[uls]

basically ang sinasabi ng chart if your most valuable assets are your motor vehicles and primary residence you're not rich (by American standard)

by PH standard you're doing ok kasi ang basis of comparison gaano kalayo ka sa mga below poverty line

[BlancNoir]

Credit and loans? Etc..if zero, youre in a better that most people.. your income has the power to earn more money thru savings and investments...kaysa pambayad ng utang..

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Fortunately no loans and credit.
Yes bro, investing while young so i can reap the benefits sooner rather than later.

[chronicle]

Dapat siguro isama na sa HS curriculum ang personal finance.

Agree and disagree. Sa mga typical teens, di pa nila priority kumita pera. So malamang di nila maiintindihan.
Unless na lang na business minded talaga ang pamilyang pinag galingan, baka mabaliwala lang.


Sa end of college na lang siguro kung san mas kelangan nila mapaghandaan ang financial windfall ng sumasahod na. Yung iba kasi gastador ng sahod.

Akala ko naman nice neighborhood with 9 digit houses

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Progression. Mahirap magskip kung walang means. Unless, sabi nga dito previously, mag asawa ng mayaman. Heheh

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[_Cathy_]

Agree and disagree. Sa mga typical teens, di pa nila priority kumita pera. So malamang di nila maiintindihan.
Unless na lang na business minded talaga ang pamilyang pinag galingan, baka mabaliwala lang.


Sa end of college na lang siguro kung san mas kelangan nila mapaghandaan ang financial windfall ng sumasahod na. Yung iba kasi gastador ng sahod.
Progression. Mahirap magskip kung walang means. Unless, sabi nga dito previously, mag asawa ng mayaman. Heheh

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Sabi mo kasi nice neighborhood and that's how I define nice neighborhood kaya nagulat ako

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[ray_noel]

pansin mo the lowest 2 groups are most liquid

and their most valuable assets are their motor vehicles and their house

kaya i don't get people who size up other people by the car

a really rich person and a working class person may own a fortuner or whatever SUV

ang hindi nakikita ung ibang assets nung rich person

while the working class person ung SUV niya is his most valuable asset... almost his entire net worth dala dala niya sa kalye araw araw

Nice share bruh!

Correct, Parang sa physical aspect ng tao din yan...
good from the outside pero when you talk to that person parang lutang kausap... hehhee... ang tototong maganda yung sa kaluoban... [emoji4]

BTT: yung mga rich more on business sila noh... well kung jan naman kukunin mo yung lahat ng gagastohin mo in daily living, the big chunk of your asset should be spend their as well...


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[chronicle]

Sabi mo kasi nice neighborhood and that's how I define nice neighborhood kaya nagulat ako

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Oo nga pala, iba definition mo.
Put into context na lang. My post was creating a point of view from the masses perspective.

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[ray_noel]

Ms cath, saan sa table jan ang acceptable sayo?

Given that pasado si lalaki and that you are looking also for your future... yung pinaka least jan na masasabi mo na,”okay nato, kahit saging lang basta loving”.


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[Sebastian Bach]

We humans and our need for validation. Lol

That's why we are a consumer driven market.

This is why the government doesn't put any effort to teach us financial literacy. Its so good to do business here.

[club25]

pansin mo the lowest 2 groups are most liquid

and their most valuable assets are their motor vehicles and their house

kaya i don't get people who size up other people by the car

a really rich person and a working class person may own a fortuner or whatever SUV

ang hindi nakikita ung ibang assets nung rich person

while the working class person ung SUV niya is his most valuable asset... almost his entire net worth dala dala niya sa kalye araw araw

True! Maraming ganyan.

[akosijhay]

pansin mo the lowest 2 groups are most liquid

and their most valuable assets are their motor vehicles and their house

kaya i don't get people who size up other people by the car

a really rich person and a working class person may own a fortuner or whatever SUV

ang hindi nakikita ung ibang assets nung rich person

while the working class person ung SUV niya is his most valuable asset... almost his entire net worth dala dala niya sa kalye araw araw

Salamat dito sir.

I'm in my 20s and actually planning to purchase a bigbike/project car since ang daming nag v-vlog sa Youtube about their bigbike or project car at aminado ako na engganyo ako (ang daming 2nd hand bigbikes/kotse na nagkalat sa marketplace na masasabe ko magandang deal during this pandemic).

Pero pagkatapos ko basahin mga replies nyo dito sa thread, naisipan ko na i postpone nalang yun plano ko at mag invest nalang sa iba hehe.

[_Cathy_]

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How Much Money Does the Typical Filipino Keep in His Bank Account?
The Philippines still has a low savings rate.

The average bank balance of most Filipinos is less than P5,000.

The Bangko Sentral ng Pilipinas (BSP)'s latest report (2017) on the State of Financial Inclusion shows 62 percent of all deposit account holders in the country only keep P5,000 and below in their bank balances.

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