5 Bad (Money) Habits Ng Mga Pinoy

Monday, November 24, 2014

May idea ka ba kung bakit marami sa ating mga pinoy ang gipit at hirap sa pera?

Kanina, habang nag-i-scan ako ng mga emails, may isang email na nakatawag-
pansin ang subject nito sa akin kaya binuksan ko agad at binasa at pagkatapos ay
pinuntahan ko ang link na nakalagay sa ibaba. Habang binabasa ko ito napapangiti
na lang ako pero marami akong natutunan at excited na akong i-share sayo ‘to.

Tips: Pagkatapos mong mabasa ang post na ‘to, malamang ito ‘yung itatanong mo
sa sarili mo: Am I guilty of any of these habits? If your answer is yes, now is the
best time to get rid of them!

Habit no.1 - Mañana habit

Mañana is the Spanish term for tomorrow and it sounds like "mamaya na," which
means "later." Filipinos usually use this phrase to refer to the habit of
procrastination.

Financially, it’s perfect to describe lack of preparation for the future. Many
Filipinos put off saving or getting insurance, feeling they can do so on another
sunny day or when their finances are more stable. When they finally decide to do
it, it’s too late – the premiums are too high or they're sick and need the money
badly.

Most Pinoys also forego saving for retirement. Instead, they spend all their money
on their children, believing that when they get old, the favor will be returned to
them. This is the same burden that their own parents imposed on them. It
becomes a vicious cycle.

When it comes to accumulating wealth, the best step is to start early. Don’t put
off for tomorrow what you can do today.

Habit no.2 - Bahala na si Batman

"Leave it up to Batman" sounds like a quip from an ‘80s action flick, and yet we
still hear this phrase getting thrown around everyday.

When you get your pay, it’s easy to get caught up in the moment, spend on things
especially when they come with the enticing 70% off tag. You end up spending
most of your budget in one go, without setting aside an amount for your savings
account.

What if you or a family member gets sick? You should have an emergency fund
for surprise expenses like hospitalization.

Habit no.3 - Hiya factor

Sometimes, Pinoys are too humble — to a fault. We are hard-wired to avoid

talking openly about our wealth or the desire for it.

This hesitation stems from our childhood – in the classroom, many students are
afraid to ask questions because they might be ridiculed or perceived as overly
inquisitive. In playing safe, we miss out on the opportunity to learn more.

When it comes to financial wealth, you can never ask too many questions. To
make wise money decisions, the best step is to share your financial goals with
someone who can give sound, practical advice.

Habit no.4 - Pakikisama and Libre!

Birthdays, promotions, anniversaries, christenings — if there’s any reason for

celebration, Filipinos are bound to milk it.

When put on the spot, we tend to prioritize the happiness of other people over
our own financial well-being.

Everyone loves a treat, and getting the tab all the time can make you the most
popular person. But is it always necessary to eat out for every single milestone
and make that unscheduled trip to the ATM just to put on a good face?

Because of pakikisama, or our cultural predisposition to get along with everyone,

we find it hard to refuse when a relative or a close friend needs financial aid.

We end up shelling out our own savings because we’re afraid to say “no.”

There are times when it’s necessary to say, “I’ve got this.” But when you really
don’t, you have to be honest. Trust your peers to understand, as they’re probably
in the same boat.

Habit no.5 - Okay na ‘yan!

Some people have the tendency to go "Okay na yan" (that’s good enough!) when
assessing their performance or status. They are reluctant to challenge the status
quo and shake things up.

Why settle for okay when you can have the best option? Why should you be
satisfied with achieving your minimum savings goal when you can actually aim
higher and take simple steps to be more prosperous?

You can start by opening a time deposit or mutual fund account, depending on
what suits you. Over time, these products can help your savings earn more.

There’s no such thing as being too prepared. Having more isn’t just for your
stability, but for the well-being of your family.

The truth is that Filipinos have a lot of positive traits; we are hardworking,
resilient, and optimistic. Financially, we are all equipped to make the best happen,
if we just put our heart and soul into it.

“But if you’re guilty of any of the bad traits, check yourself. Start correcting these
habits before they define your future.” — Rappler

(source: www.rappler.com/business/personal-finance/52784-5-pinoy-money-
habits-to-break)
***P.S. - Ikaw, ano sa palagay mo? Ano pa ‘yung ibang bad (money) habits ng mga
Pinoy na sa tingin mo ay dapat kasama sa listahan na nabanggit? Pwede mong
sabihin sa comment box sa ibaba para makatulong sa iba. Huwag kang mahiya! J

***P.P.S. - Kung may direct selling or networking business ka, pwede mong
gamitin ‘yung article na ito para i-educate ‘yung mga tao kung papaano mas
maging wais pagdating sa pera. Huwag mong kakalimutan na i-Like at mag-
Comment OK?

Your business partner to success,

Jeyrom Billan

Online Network Marketer

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