Do you want to know the 12 shocking reasons why some Filipinos will not be able to invest or at least save money in the Philippines this year? Or if they want to, they simply just can’t. Read on to find out why. I came across this photo that is making rounds on Facebook.
It caught my attention as it tells about the reasons Filipinos don’t get the chance to invest. It makes me feel sad because what was written there are facts that I am very much guilty of.
For sure I am not the only one who is doing the things mentioned in the post so I am sharing it here. This is to help others (including myself) become aware and somehow do things differently with their lives after reading this post. So all of us will have a different money strategy in the days ahead.
12 Reasons Why Filipinos Won’t Be Able To Invest and Save this Year
The list is simple. Take note that it does not include the usual monthly expenses such as food, utility bills, and other monthly living essentials.
However, it is clear that this will show why most of us Filipinos will not be able to invest year after year. The reason is we are channeling our financial resources to these monthly expenses:
- 1. January – Pay the debt incurred from last year’s festive celebration
- 2. February – Valentine’s Day and Chinese New Year celebration
- 3. March – Graduation celebration
- 4. April – Its Summer! Need to do some out of town trip with friends and family
- 5. May – need to pay the enrollment fees of kids, or siblings
- 6. June – purchase school supplies, shell out cash for daily ‘baon’
- 7. July – need to pay the debt incurred after paying the tuition fee
- 8. August – not the best time to invest
- 9. September – Start of Christmas season
- 10. October – Preparing for Halloween and long weekend travel
- 11. November – Payment of tuition fee for the second semester
- 12. December – Christmas season celebration
Here is my reference:
What can you say about it? It’s really shocking, right? Are you guilty?
Don’t feel sorry if somehow you are currently experiencing any of the mentioned situations every month. Think of a way how you can change things in your life so the coming paycheck, birthday celebration, and the coming months/years will be much better financially, than the previous.
Just My Two Cents
Maybe it’s about time to live a simple life. Stop buying unnecessary things using your credit card just to post its picture on Facebook and look cool. Instead, learn how to invest in stocks and in properties, or at the very least, save for the rainy days.
If you need to celebrate important occasions (birthdays, graduations, anniversaries) in your life, don’t do it in fancy restaurants. If you can’t help it, check out group buying websites like Metrodeal, most of the time it offers discounts for popular buffets in Metro Manila, beach resorts, and theme parks all over the Philippines.
During summer vacation, it is not necessary to go out of town to be happy and again to look cool in the eyes of your Facebook friends. Remember, the month of June is fast approaching and before we know it, its “Tuition Fee” time again. Better prioritize things that are more important than going out of town and becoming ‘IN’ in social media.
On Christmas, you don’t have to give expensive gifts to your inaanak especially if you don’t have the cash or you would need to use your credit card to pay for it. Ninongs, should be a role model for their inaanak. Show them that you are living a simple life. You don’t need to care if they will remark you as ‘kuripot.’ Remember the parents didn’t ask you to be the ninong /ninang of their child so the latter can receive expensive gifts every Christmas.
I hope these 12 reasons may serve as an eye-opener to all of us.
*Again credits to Richard Macalintal