Typical Filipino Depositor’s Bank Balance...

[uls]

i heard that less than 1% of Pinoys invest in our market. That's an awful low figure compared to our neighbors Singapore, Malaysia, HK who are all in double figures. Considering that for as low as 5k, you can be invested in a basket of stocks.

Americans, I hear are about 50/50.

yep

kasi madami pinoy di pa financially literate

[papi smith]

Natutukso na nga ako sa Civic LE

Lets admit it, Majority of Filipinos are really bad savers.

But a 1M in the bank, that's enough to buy 10,000 kgms of garlic and sold it a back at 200k profit in a matter of 2 weeks.
Roll it over, and that 1M will be doubled in a matter of 3 months. No bank can give you that profit.
Thats if the saver knows how to make his money work for him.

But for the ordinary pinoy, 1 M at the bank, he will buy a car.

[uls]

i heard that less than 1% of Pinoys invest in our market. That's an awful low figure compared to our neighbors Singapore, Malaysia, HK who are all in double figures. Considering that for as low as 5k, you can be invested in a basket of stocks.

Americans, I hear are about 50/50.

and also, i think pinoys' default investment when there's extra money is real estate

even the least educated, pag nagkapera, bibili ng lupa

[ice15]

My personal opinion... Yes we are a poor country hence, the "savings" are higher than usual.

Why do we save? Because we don't trust our pension system (SSS/GSIS)

In countries like Aus and Canada, they can afford to live without savings since the Government will support them in case they loose their jobs or get ill.

Economy will be much better if we all spend like there's no tomorrow. "Iikot ang pera"

But in reality, we need to save up for that "family emergency," school fees (we won't send our children to public primary/secondary schools) and extended holidays.

And yes the money will earn more if you invest it, but very few people has the time, knowledge and guts when it comes to "investments" plus we all need cash (liquid assets) for that family emergency...

[uls]

My personal opinion... Yes we are a poor country hence, the "savings" are higher than usual.

Why do we save? Because we don't trust our pension system (SSS/GSIS)

In countries like Aus and Canada, they can afford to live without savings since the Government will support them in case they loose their jobs or get ill.

Economy will be much better if we all spend like there's no tomorrow. "Iikot ang pera"

But in reality, we need to save up for that "family emergency," school fees (we won't send our children to public primary/secondary schools) and extended holidays.

And yes the money will earn more if you invest it, but very few people has the time, knowledge and guts when it comes to "investments" plus we all need cash (liquid assets) for that family emergency...

actually according to the article posted by the threadstarter...

very low savings rate natin

majority of people have only 1000-5000 in the bank (see page 1)

the threadstarter is surprised nga that only 63000 households have more than 1M in the bank

[shadow]

Tingin ko wala talaga ma save eh. I mean majority is pay check to pay check kung wala talaga ano ilalagay mo sa bangko?


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[uls]

Tingin ko wala talaga ma save eh. I mean majority is pay check to pay check kung wala talaga ano ilalagay mo sa bangko?


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yeah

sa mga employees na minimum wage or a little above minimum

zero balance lagi

kaya pag nagwithdraw sila sa ATM wala na paki sa transaction receipt

butal nalang kasi ang balance

[_Qwerty_]

pano makakapag save.. karamihan eh wala pang sweldo.. negative na agad..

[uls]

pag kuha ng sweldo bayad utang

tapos utang uli

it's a cycle

[dreamur]

I heard people became 1-day millionaire kahapon... so fake news yan Kat

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[_Cathy_]

pano makakapag save.. karamihan eh wala pang sweldo.. negative na agad..

ako yan

Seriously, I have a friend who travels so much, almost monthly she is out of town or out of the country. She told me about her officemate who was assigned abroad and became so problematic when the salary credit was delayed. So our VP said it would be safe to bring the peso equivalent of 150k to which I agreed. And then she said, "hindi naman kami lahat may ganyan na pera" I almost fell of my seat, hindi ko masabi, buwan buwan nagt travel ka, spend as much as P1k a day on food, spent P30k on a handbag pero wala ka P150k?!?!

[shadow]

ako yan

Seriously, I have a friend who travels so much, almost monthly she is out of town or out of the country. She told me about her officemate who was assigned abroad and became so problematic when the salary credit was delayed. So our VP said it would be safe to bring the peso equivalent of 150k to which I agreed. And then she said, "hindi naman kami lahat may ganyan na pera" I almost fell of my seat, hindi ko masabi, buwan buwan nagt travel ka, spend as much as P1k a day on food, spent P30k on a handbag pero wala ka P150k?!?!

Wala rin cc?


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[uls]

ako yan

Seriously, I have a friend who travels so much, almost monthly she is out of town or out of the country. She told me about her officemate who was assigned abroad and became so problematic when the salary credit was delayed. So our VP said it would be safe to bring the peso equivalent of 150k to which I agreed. And then she said, "hindi naman kami lahat may ganyan na pera" I almost fell of my seat, hindi ko masabi, buwan buwan nagt travel ka, spend as much as P1k a day on food, spent P30k on a handbag pero wala ka P150k?!?!

haha

kasi nga napunta lahat ng pera niya sa travel and stuff

and sa cc bills

[_Cathy_]

Wala rin cc?


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Meron naman siyang cc. Pero ang issue niya pocket money na P150k, hindi daw lahat may ganun na cash. (pero bumili siya 30k na bag in cash )

[dreamur]

Meron naman siyang cc. Pero ang issue niya pocket money na P150k, hindi daw lahat may ganun na cash. (pero bumili siya 30k na bag in cash )

Tumatangap kasi ng credit card ang michael kors

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[_Cathy_]

Tumatangap kasi ng credit card ang michael kors

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MCM binili niya. I asked her to check the price for me she was in Europe e nagustuhan din niya. I found out that it's almost the same price in the US, so I told her it's not practical so hindi na rin siya bumili. She asked me what is a nice bag to buy so I told her to get a leather longchamp which is equivalent to P23k

One or 2 months after ata she went to Korea, aba nagulat ako binili MCM! Mas nakamura pa siya kung sa Europe na lang siya bumili in the first place.

So she spent P53k on 2 handbags (in cash). Wala pa cost of travel niya dyan. Pero wala siya 150k cash sa bangko

[shadow]

Meron naman siyang cc. Pero ang issue niya pocket money na P150k, hindi daw lahat may ganun na cash. (pero bumili siya 30k na bag in cash )

I'm assuming bayad ng company accomodation. Eh di kung how much Kaya niya madalad kahit 1/3 lang ng required then mag cc na siya.




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[Walter]

Some people spend what they can rather than have it loaned or taken by family members in need of money ... this mentality is prevalent in low income families ... one bread winner works to death to provide for a large family ... most of whom do nothing ... send siblings to school ... take care of sickly parents ... give to poorer relatives ... you can see how relatives of OFWs spend money like it were growing on trees ... not caring how much hard work it took to earn such money ...

[_Cathy_]

If very few Filipinos have bank deposits then why are the lines at the bank always so long! I absolutely hate it when my Mom asks me to withdraw from her ancient passbook account. I also don't understand why there are several counters but only 2 tellers. Buti pa mga HNW individuals, sila pinupuntahan ng personal bankers. Unlike us peasants that have to line up at the branch

[kurochanizer]

True! And the percentage of discounts won't change kahit pa may inflation. Agree na best investment ang hospital stocks. Lahat tayo magkakasakit when we get older.

Kaya one of the best investment one can make is to buy shares of stock from a hospital... less than a million lang... next to free na ang hospitilization mo and your immediate family for 60 days... sino ba tumatagal ng 60 days sa hospital....

You have medical care... kumikita ka pa...

For Less than a Million...

actually other hospitals if nasa initial offer palang nasa 360k lang yun...