Buying something which you cannot aford.

[wezz_zzew]

Karamihan sa mga call center agent na kakilala ko, after nila maka one year sa work, nagbibilihan ng mga bagay na akala nila ay kaya nila. One example is buying a car (mirage). At first tuwang tuwa siya dahil de kotse na siya, however, after a number of months, nalaman ko na lang na patong patong na pala ang problema niya sa pera. Hindi nya inexpect yung mga additional expenses sa pagkakaroon ng ganung "privilege" like gas, maintenance, parking, accessories. Ganito ba kayo?

[jhnkvn]

Never. I always spend within my means. For me, this means 20% of net income.

I also do not have a regular credit card (I cancelled all of them) so I'm pretty much living on cash right now. Well.... aside from my credit-card-linked-Paypal that is

[xninjax]

hehe.., maraming ganyan dito.

Financial literacy is low in PH.

[uls]

Karamihan sa mga call center agent na kakilala ko, after nila maka one year sa work, nagbibilihan ng mga bagay na akala nila ay kaya nila. One example is buying a car (mirage). At first tuwang tuwa siya dahil de kotse na siya, however, after a number of months, nalaman ko na lang na patong patong na pala ang problema niya sa pera. Hindi nya inexpect yung mga additional expenses sa pagkakaroon ng ganung "privilege" like gas, maintenance, parking, accessories. Ganito ba kayo?

when they were making the decision to buy new car inisip lang nila kung kaya nila ang monthly payments

di nila inisip yung additional costs of having a car PLUS the lifestyle that comes with having a car

aside from gas, maintenance, parking etc pag may car ka na mas gaganahan ka pumunta kung saan saan... gimik, food trip, road trip... syempre lahat ng lakad na yan may gastos

gusto nila umangat ang standard of living nila (sino ayaw?) pero masyado nagmadali di naman kaya ng income

[CVT]

Number one ang mga taga US diyan.... Utang to the max..... worse, vicious cycle na......

[uls]

nagiging Kano na ang mga Pinoy

lifestyle financed by debt


on the surface they look successful -- new carS, big house, tons of stuff

ang di mo nakikita yung stress pag dating ng bills

[wezz_zzew]

The first week na nahawakan ko auto ko, gala to the max ako. Lucky me, sagot naman lahat ni erpat. Pero nung nagwork na ako at nahiya na humingi ng anda, dun ko naranasan ung magtipid ng sobra para lang may pang gasolina. Tama ka na ang iniisip lang nung mga first time owner ng car is ung monthly payments. Di nila naiisip ung miscellaneous expenses na kung iccompute mo, mas malaki pa sa amortization.

[ClaNker]

Wala sa ugali ko ang bumili ng di ko kaya.

[foresterx]

Number one ang mga taga US diyan.... Utang to the max..... worse, vicious cycle na......

nagiging Kano na ang mga Pinoy

lifestyle financed by debt


on the surface they look successful -- new carS, big house, tons of stuff

ang di mo nakikita yung stress pag dating ng bills

really? have you lived in the states long enough to know that this is true? i practically grew up there and know how big of a lie that is. parang yung mga nag sasabi na ang mga amerikano ang hilig mga exotic.:bwahaha: we call this stereotyping.

people in the states use creditcards/debitcards a lot because transactions are a lot easier and faster using cards. kahit ako pag nasa states card gamit ko, i barely bring cash over $100. kasi pag card swipe and sign ka lang tapos na faster than getting cash in your wallet and waiting for your change. di katulad sa pinas pag card gamit mo medyo mabagal transaction. plus meron pa mga app for smartphones for restaurants/grocery store/fast food chains, where you can pay using your phone na para di mo na kelangan pumirma or labas wallet mo, yung ibang mga restaurant pa pwede ka na agad umorder sa phone mo. on gas stations don na mismo sa pump swipe mo na agad card mo no need to sign anything tapos agad, unlike sa atin dadalin pa sa cashier antay ka pa ng konti. that's the reason why they use cards a lot because of the hassle free transaction.

BTT: no i always make sure that the things i buy i can actually afford. but i use my credit card a lot because i can control my spending more compared when i'm using cash. siguro kasi makikita ni misis pag card kaya mas controlled unlike pag cash walang huli.:bwahaha:

[Parkuu]

I switched back to public transportation dahil masyadong mahal ang parking, gas, at toll kapag gamit sa work during weekdays. Mas tipid na, nakaka pahinga or idlip pa habang nasa bus. Ingat nga lang sa mandurukot.

Back to the topic. Credit card is evil. It is best to buy something if you have cash on hand para hindi sira ang monthly budgeting.


Sent from my iPad Mini using Tapatalk 2

[testament11]

Problema ito ng madami. Nung una kong nagkaroon ng sahod, ubos agad yun at wala akong naitabi. Pero once ko lang nagawa yun. Ngayon kasi, pag may isang bagay na gusto ko bilhin, kelangan pagipunan ko muna at dapat sobra yun naipon mo sa nabili mo at hindi dapat matigil yun pag-iipon ng pera. Tsaka ang hirap kumuha ng hulugan. Sa una akala mo ok lang kasi zero o maliit lang pinalabas mong pera, compared sa outright cash. Pero hindi mo alam kung ano mangyayari bukas.

[testament11]

Credit card is evil

True. Pag di mo kaya i-handle yan, kawawa ka pagdating ng billing statement mo. I have 3 CC's, pero most of the time, gas expenses lang naka-charge doon. Seldom lang yun ibang purchases like groceries or clothes.

[Retz]

nangangamoy SC thread ito.

[uls]

really? have you lived in the states long enough to know that this is true? i practically grew up there and know how big of a lie that is. parang yung mga nag sasabi na ang mga amerikano ang hilig mga exotic.:bwahaha: we call this stereotyping.

people in the states use creditcards/debitcards a lot because transactions are a lot easier and faster using cards. kahit ako pag nasa states card gamit ko, i barely bring cash over $100. kasi pag card swipe and sign ka lang tapos na faster than getting cash in your wallet and waiting for your change. di katulad sa pinas pag card gamit mo medyo mabagal transaction. plus meron pa mga app for smartphones for restaurants/grocery store/fast food chains, where you can pay using your phone na para di mo na kelangan pumirma or labas wallet mo, yung ibang mga restaurant pa pwede ka na agad umorder sa phone mo. on gas stations don na mismo sa pump swipe mo na agad card mo no need to sign anything tapos agad, unlike sa atin dadalin pa sa cashier antay ka pa ng konti. that's the reason why they use cards a lot because of the hassle free transaction.

BTT: no i always make sure that the things i buy i can actually afford. but i use my credit card a lot because i can control my spending more compared when i'm using cash. siguro kasi makikita ni misis pag card kaya mas controlled unlike pag cash walang huli.:bwahaha:

buy house can't afford



CC delinquencies peaked pre-financial crisis then the Great Deleveraging



the US economy got f*cked some years ago coz people borrowed to much and couldnt pay

5 years later the US economy is still recovering

__


btw, i know everybody uses debit/credit cards in the states

[uls]

banks tightened credit during the crisis

credit contraction f*cked the US economy





the Great Deleveraging

consumers paid down debt

start borrowing again

[foresterx]

buy house can't afford



CC delinquencies peaked pre-financial crisis then the Great Deleveraging



the US economy got f*cked some years ago coz people borrowed to much and couldnt pay

5 years later the US economy is still recovering

__


btw, i know everybody uses debit/credit cards in the states

kinda unfair to use those statistics when their country has the most issued creditcard don't you think?


here's a good read about credit cards in other countries.
How different cultures handle credit cards

[ClaNker]

Number one ang mga taga US diyan.... Utang to the max..... worse, vicious cycle na......

Ika nga ng retired pinoy na ka kwentohan ko sa gym... "Grabe mga kasama kung pinoy dun, bili dito bili dun, pag may bagong gadget bili, pag 2 or 3 year old na ang kotse palit ng bago, pag may gamit si kapit bahay dapat meron din sila. Ayun daming utang."

Vicious cycle nga ika nya, and dali kasi ng buhay pag may plastic. Tyak mapapa utang ka. Which also has become the norm here.

[uls]

how Americans live




soon that chart will apply to pinoys

[joemarski]

Ewan ko ba kung bakit may mga taong nakakatulog ng mahimbing na may ini- isip na utang
o mga dapat bayaran. Marami akong mga kasamahan sa trabaho na ganyan.

Lagi kong inu- una ang mga "basic needs", 'yung mga bagay na kailangan talagang bilhin.
There's always a time to buy those "not so important things". Mapag- iipunan naman 'yan.
Saka ka na bumili kung sigurado ka ng di kakalam sikmura mo.

May mga tao pa ngang umu- utang lang para pambayad ng utang. $-2-PIDS!!! :mad:

[CVT]

Bro forester, I am sincerely happy that you are doing well in the US. I have not lived there, but I was there the longest for 4 months on company sponsored trips and trainings. And I have been there a couple of dozen times mostly in northern CA and the northwest area again mostly on company sponsored travels..

In my various interactions with Filipinos and Caucasians, that is what they are telling me. That they live their lives on their paychecks. however their only advantage is that they can have second jobs with good pay to augment their family income...

Credit is easy there, and it is human nature to borrow as much as possible to sustain the life style they like....

I believe bro uls has some profound data presented above...