Typical Filipino Depositor’s Bank Balance...

[Wave24/7]

We use our ccs about 95% of the time due to convenience and security.. We have 4 and our current balance is not more than $300.


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[Wave24/7]

We buy our vehicles used in cash and drive them as longer as we can. That way we can buy a brand new one in cash anytime without paying interests.

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[dr. d]

We buy our vehicles used in cash and drive them as longer as we can. That way we can buy a brand new one in cash anytime without paying interests.

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buying cash is the cheaper way to go.
that is, if one does not know how to make his money work for him.

[Wave24/7]

buying cash is the cheaper way to go.
that is, if one does not know how to make his money work for him.

Sorry, but I don't quite follow you.

[ray_noel]

buying cash is the cheaper way to go.
that is, if one does not know how to make his money work for him.

Sorry, but I don't quite follow you.

He meant for installment buyer, like for those who has business because buying in cash, you already loss your money...

instead, they opt to have it in installment then the remaining cash (of the whole amount for cash payment) will be used in business...


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[StockEngine]

We use our ccs about 95% of the time due to convenience and security.. We have 4 and our current balance is not more than $300.


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if you dont mind me asking.. 90-120k/yr or more or less?

[sirkosero]

Typical PINOY deposit pero USD ang usapan? Nasa US na ba ang typical pinoy ngayon?

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[dr. d]

He meant for installment buyer, like for those who has business because buying in cash, you already loss your money...

instead, they opt to have it in installment then the remaining cash (of the whole amount for cash payment) will be used in business...


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that is correct, sir.
i buy a 1 million peso car, cash.
if i buy it on installment basis, the total sum that i would be giving after 60 months, would be, say... 1.3 milling bucks.
if i buy it on installment. i plunk down 200K, and... what do i do with the remaining 800K ? put it in the bank, where it will earn much less than the interest of the loan? sana iki-nash ko na lang.
but if i buy a 1 million peso car on installment, i'd put down 200K first.. the remaining 800K, i can put it to work by using it in other endeavors, IF I KNOW HOW. that 800K will then earn money, which may grow large enough, as to cover the subsequent monthly installments.

[jut703]

masyado yatang mataas yang 70K per month tapos x 2 pa? mas realistic eh mga nasa 30K a month x 2 siguro..

Depends on what segment you're referring to.

For perspective, this is how economists classify Filipini households:



The Tsikot demographic (i.e. car-owners) are mostly in the upper middle class and higher - this comprises about 850,000 households, equivalent to just 4% of the total PH population.

But then again, if you belong in this socio-economic strata, it feels very "middle-class" when you compare to the ultra rich (say, >1M monthly income). Even if you're near the top of the pyramid when viewing the Philippine economy from a macro lens, you can still know thousands of people who are exponentially richer than you are, lending the feeling of being middle class.

In the urban setting where educated people live and work in business districts, the definition of middle class is different compared to when you take the entire Philippines including the outskirts where people subsist on a few pesos per day.

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[jut703]

Living in a bubble si CVT

30k each more realistic nga for a middle class family

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Ergo, nung nasa Pinas ka pa, upper income ka since I'm sure hindi naman 30k/month sweldo mo. And that's not even counting your parents' income. Naalala ko lagi mo sinasabi middle class ka lang eh hehe.



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