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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