Bakit hindi yumayaman ang maraming Pilipino?

[giovannni]

Another problem I see that adds to poverty in the Philippines--people equate SAVING with getting wealthy. Wrong. It's not that simple. Saving is good for parking your money while thinking of where to invest it. Saving, in of itself, leads to ASSET EROSION due to INFLATION.

Here's an example:

You invest your savings of 100K at a locked in rate of 3%. The national average for inflation is 7% per year. You add P0 to it yearly. If compounded DAILY for 10 years, you get P134,984.22
Adjusted for inflation, this amounts to purchasing power of roughly 62K (based on the value of your money when you first invested your 100K)

Of course, this is offset by constant addition to your initial savings. Example: Same scenario above but you invest P10K every year and interest is compounded daily. Your 100K will be worth: 251,607.86 after 10 years.

Unfortunately, this is illusory since the same 4% inflation that your savings' growth doesn't match (7% inflation vs 3% interest rate on savings) nips away at your base investment and your additional deposits. So the net effect is slightly less inflation damage than if you didn't do follow on deposits. Regardless, your money will still be worth LESS than when you invested.

Of course, I'm not saying DON'T SAVE--just keep your eyes open when you're saving and get ready to INVEST your money.

Lesson: Invest with an eye towards beating inflation LONG TERM.

Money loses its value with time. So invest in items that increase in value--so you can then add on and reinvest

[killer16]

Another problem I see that adds to poverty in the Philippines--people equate SAVING with getting wealthy. Wrong. It's not that simple. Saving is good for parking your money while thinking of where to invest it. Saving, in of itself, leads to ASSET EROSION due to INFLATION.

Here's an example:

You invest your savings of 100K at a locked in rate of 3%. The national average for inflation is 7% per year. You add P0 to it yearly. If compounded DAILY for 10 years, you get P134,984.22
Adjusted for inflation, this amounts to purchasing power of roughly 62K (based on the value of your money when you first invested your 100K)

Of course, this is offset by constant addition to your initial savings. Example: Same scenario above but you invest P10K every year and interest is compounded daily. Your 100K will be worth: 251,607.86 after 10 years.

Unfortunately, this is illusory since the same 4% inflation that your savings' growth doesn't match (7% inflation vs 3% interest rate on savings) nips away at your base investment and your additional deposits. So the net effect is slightly less inflation damage than if you didn't do follow on deposits. Regardless, your money will still be worth LESS than when you invested.

Of course, I'm not saying DON'T SAVE--just keep your eyes open when you're saving and get ready to INVEST your money.

Lesson: Invest with an eye towards beating inflation LONG TERM.

Money loses its value with time. So invest in items that increase in value--so you can then add on and reinvest
Today 10:51 AM

True!! galing!! san po kayo connected sir giovanni?

[giovannni]

Another problem I see that adds to poverty in the Philippines--people equate SAVING with getting wealthy. Wrong. It's not that simple. Saving is good for parking your money while thinking of where to invest it. Saving, in of itself, leads to ASSET EROSION due to INFLATION.

Here's an example:

You invest your savings of 100K at a locked in rate of 3%. The national average for inflation is 7% per year. You add P0 to it yearly. If compounded DAILY for 10 years, you get P134,984.22
Adjusted for inflation, this amounts to purchasing power of roughly 62K (based on the value of your money when you first invested your 100K)

Of course, this is offset by constant addition to your initial savings. Example: Same scenario above but you invest P10K every year and interest is compounded daily. Your 100K will be worth: 251,607.86 after 10 years.



True!! galing!! san po kayo connected sir giovanni?

I am not connected with any investment programs. I keep my investments private.

There are good deals around, keep an eye out and ALWAYS DO THE MATH!

[gurl_taray18]

I hope call center people won't get mad at me. I know there are still some call center people out there knows how to save their money. I have former schoolmates and believe it or not, all of them who are employed as call center agent (take note, they are employed in a very prestigious call centers in the country), they earn higher wages than I do, pero mas poor pa sila saakin (lol). Lubog sa utang. They in fact gusto mangutang saakin, but sorry, I never lend them. Ganun ba mag work sa call center, malaki sahod, pero daming utang????

case to case basis yan...i worked in the call center industry for more than 4yrs, pero never ako ngka-utang.in fact, ako yung inuutangan...i also never asked money from my parents since i started to work, kahit *** ilang months in between na i was jobless i spent my savings for that...depende kse talaga yan sa tao, sa lifestyle nila...pero tama ka, most of the people i know in the cc industry, ganyan ang ugali nila.pagka-sweldo ayun go agad sa mall, or bili ng bagong gadget, starbucks almost everday...sabi ko nga sa isa kong friend na ndi nag-iipon, "di naman required na ubusin mo *** sweldo.baka gusto mong i-research ang meaning ng word na "SAVE"

[alvintabz]

The foundation to wealth building is saving; kaya maraming Pilipino ang hindi yumayaman ay dahil hindi nakakapag-save. These are some of the obstacles:

1. Lack of income (milyong pamilyang Pilipino ay nasa baba o malapit lang sa poverty line, kaya di kataka-taka na milyun-milyon din ang walang Pilipino. solution dito, gumawa ng paraan para madagdagan ang kita)

2. Poor spending habits (reason why even those with good income ay wala ring savings)

3. Lack of patience (maraming Pinoy di makapaghintay; gusto biglang yaman. kaya imbes na mag-ipon, magsusugal na lang. building wealth takes time!)

4. Procrastination (eksperto ang Pinoy sa ugaling "tsaka na," pati sa pag-iipon)

5. Hopelessness (marami ang hindi na lumalaban sa kahirapan, paniwala nila "ipinanganak kaming mahirap, mamamatay kaming mahirap!")

6. Pressure from family & friends (minsan nakakalimutan ng isang tao ang pag-iipon dahil napipilitan siyang suportahan ang pinansyal na pangangailangan ng kanyang mga magulang, kapatid, kamag-anak, atbp.)

7. Low financial IQ (kailangang marunong dumiskarte sa paghawak ng pera para mapalago ito. yung kulang sa kaalaman nabibiktima din ng mga scam na umuubos sa ipon nila)


You can read more about this in the guides and articles section of www.pinoysmartsavers.com

Maraming salamat.


ALVIN T. TABANAG, RFP
Personal Money Management Coach
www.pinoysmartsavers.com

[giovannni]

Here's an inquirer article that talks about asset erosion due to inflation: http://business.inquirer.net/money/f...ilent-assassin

[giovannni]

think BIG..

you become of what you think...tama ba yun?

You are 100% correct, sir.

[killer16]

Tama yun!! eto lang ang isa pang kailangang tandaan mga kaibigan.

We invest not because we want to grow money but because we want to defeat inflation.

Kasi, if we invest to grow our money, then we are in a path of doom.

This is according to a financial expert!

[ready2go]

Because they don't know how to fight...

The Enemies of Financial Freedom

Moreover, did you know that intelligence is not related to one's ability to accumulate wealth? Read more about this in this article:

Do You Need To Be A Genius To Be Rich?


Are you Ready To Be Rich? Visit http://fitzvillafuerte.com

[banshe1981]

s

Part to blame is our culture. pano kasi, we are a consumer society. lahat ng nakikita nating advertisment puro gastos. A lot of Filipinos do not think about their future or retirement. puro ngayon lang! material things that make them happy now pero hindi nila naiisip na ang trabaho, temporary lang yan. and if in any case something bad happens to them, they are in great danger of being poor.

alam mo, i kinda agree with you..sobrang matipid ako sa sweldo ko, sa spending ko, ipon ng ipon for the future, para sa retirement..para sa future...
but, naiisip ko rin ang sinasabi ng frend ko, tipid ka ng tipid, ipon ka ng ipon, invest ka ng invest, e kung mamatay ka *****, ma-eenjoy mo ba lahat ng money na pinaghirapan mo...
so now i tend to balance everything... 50/50 na... i enjoy life's pleasurable things na within sa budget na sinet aside ko for it, and at the same time save for my future...
dapat balanse *** talaga... indi sobrang kuripot, indi rin sobrang extravagant and impulsive spender

[killer16]

ah ok! dpende naman sa tao yan e. kasi ako, nag eenjoy talga ako mag invest eh.

so, decision na ng tao yan.

[Crisar]

s


...........
so now i tend to balance everything... 50/50 na... i enjoy life's pleasurable things na within sa budget na sinet aside ko for it, and at the same time save for my future...
dapat balanse *** talaga... indi sobrang kuripot, indi rin sobrang extravagant and impulsive spender

Definitely right. Balance in lifestyle is preferred. I've known people who worked, saved and invested almost all their lives, and time comes when they got a year or less to live. They tried to compensate for such short period what life could really offer.

[banshe1981]

ah ok! dpende naman sa tao yan e. kasi ako, nag eenjoy talga ako mag invest eh.

so, decision na ng tao yan.

to each his own ika nga,, actually ganyan din ang line of thinking ko before... saving and investing are something i enjoy doing... parang iyon na ang leisure task ko, seeing numbers grow up and up
my goal kasi bago ko mag 40, i'm not working anymore, ill let money work for me..
pero ***** im trying half nlng ng kita ko nilalabas ko for investment..nd the rest for basic needs and extra-curricular... napaisip din kasi ako...time is gold, kung i-limit ko ang sarili ko sa pag-ipon and invest ***, baka pag binalikan ko kabataan ko, mag-regret din ako....darn, puro pera *** pala inatupag ko...
kaya now habang bata pa, enjoy ko na rin mga iba ko pang gs2ng gawin sa buhAY..

[alvintabz]

Tama ka dun banshe. Idagdag ko lang na kailangang maging maingat sa pagpili ng bagay na enjoyable. Dapat yung hindi masyadong magastos. Parang pagkain ng ice-cream yan. Kailangan bang Haagen-Dazs kung masarap din naman ang Nestle or Selecta? Maari siguro paminsan-minsan, wag lang madalas. At kung gusto mong magka-kotse, kailangan bang SUV kung solve naman ang 4-door sedan or MPV? It's healthy to enjoy life but we just have to be smart going about it. May kasabihan nga, "the best things in life are free..." take advantage of this.

Sana makamit ninyo lahat ang inyong mga pangarap sa buhay.

[knn]

Mayron naman yumayaman. Its just a matter of investing wisely.

I am having fun investing..its a challenge.

[aspiringentrepr]

Depende yan sa tao. Depende sa kagustuhan.

Would like to share an article on "My Path Towards Financial Freedom"

[bulakeno]

^^

Here's an inquirer article that talks about asset erosion due to inflation: http://business.inquirer.net/money/f...ilent-assassin

Sad but true!

There is not much people can do about inflation except monitor and re-balance portfolios, Ravalo says. Doing these may still result to a loss, but doing nothing about inflation will guarantee it, he says.

[brucelee09]

Ang dapat nating tanungin ay kung bakit tayo nag tra-trabaho?? Ano ang purpose bakit tayo nag tra=trabaho?? ito ay ay para sa kaligayahan lang natin o mas higit na para sa kaligayahan ng iba?? Ginagawa ba natin ito para sa sarili lang natin o para sa mga mahal natin. Sa tingin ko dapat balance lang, mag bigay ka ng fund para sa sarili mong kaligayahan, ika nga pay yourself for a job well done, next is dhare it to others para makapag pasaya ka ng iba, try to save, try to invest ~ para in the future hind ika kapusin sa pag papasaya sa sarili mo at sa ibang tao.

[scqg]

simple. pinoy spend more than they can afford to.

[PinoySaKSA]

another simple reason...

most pinoys think that if he/she someone having something new or something cool, he/she needs to get it too... or better than what he saw...

ok... necessity na nga siguro ang cellphones ngayon... pero kailangan ba *** N-Series 8Gb?... naiinip daw sa byahe kaya bili ng MP3 player.. pero kailangan iPod?

we are blinded by the luxury that we see from other people or from Advertisement and easily brainwashed into thinking that those unnecessary things are necessities...

Starbucks anyone?