I'm Afraid Many of My Fellow Filipinos REFUSE to Make Financial New Year's Resolutions

WWD

I really hate December because of the heavy traffic. Some say that people do last-minute Christmas shopping because they just live paycheck to paycheck. However, the way things go during payday can tell why they can't have the money to do some early Christmas shopping. An irony indeed that Christmas comes early in the Philippines (September) but not the Christmas shopping.

Indeed, so many should realize that living paycheck-to-paycheck should be a warning not to splurge on it (read here). Instead, they choose to many stupid activities. Maybe, call in the one-day paycheck where they immediately go splurging the paycheck when it arrives. They would focus more on their wants than their needs. I guess that's why some fools are demanding the stupidity of higher salaries and lower price of goods aka Sahod Itaas Presyo Ibaba. I'm afraid that such a move isn't economically feasible (read here). Even if they do get a high-income job (or even become an OFW for better income), they can still fail to build wealth if they continue with their bad habits (read here).

We often hear of New Year's resolutions. My question is when will more of my fellow Filipinos ever start to make them? I guess they enjoy the cycle of living beyond their means from January to November, waiting for their Christmas bonuses and 13th-month payments. I even heard from other people that some people even splurge their 13th-month pay so they have no money for the Noche Buena. The "solution" is to borrow money for the Noche Buena. I could imagine grocery stores getting unusually long lines on December 20-24 because they failed to do early Christmas shopping. Sometimes, I saw it while I did some Christmas deliveries. Even worse, they do their Noche Buena so extravagantly that they run out of money for the New Year's Party (read here). I even experienced poorer neighbors hiring a music band they simply can't afford.

In Cebuano, there's the statement of "Sa Disyembre lipay-lipay. Sa January likay-likay." In English, it means, "Enjoying December, escaping in January." I wonder if Indian restaurants getting fully booked so soon in January can be linked to 5-6 lenders? I guess the abundance of motorcycle-driving lenders in January is because they're after their capital. Another reason for the 5-6 lenders eating at Indian restaurants in groups is probably either they're recovering their energy or they're celebrating their successful loan collection. Some of them may now be hiding. I heard loan sharks can be very notorious. I heard from some people that 5-6 lenders can use various means to get the money back.

January is supposed to be when they learn their lessons. Sadly, many don't and the same cycle repeats itself. It's because it's very difficult to make financial resolutions. Why make resolutions when there's an easy way out? You can have these practices like (1) blaming the rich for one's poverty, (2) blaming capitalism for one's bad choices, (3) rally for Sahod Itaas Presyo Ibaba, (4) getting into get-rich-quick schemes such as Ponzi schemes, (5) gambling hoping to get rich quick fast, (6) investing in stocks hoping to get rich quick fast, and that's but a few of many that can be named.

In my case, I started to learn to be more investment savvy and stop relying on business school knowledge. I never learned other ways to invest in stocks even during my MBA days. I believe that they should've talked about investing in stocks via UITFs (and an index fund is one of them). Business school has become too theoretical. I even got scammed during my MBA days. It wasn't until I did more research finding out why the Philippines is still left behind and how certain improvements happened.

Sadly, some people seem to enjoy the financial troubles they're always getting into. If that's the case, the best thing that I like to fire out is, "Do you ever wonder why you're still poor?" I guess such people will still blame the rich, capitalism, etc. The reason is that it's always much easier to blame others than own up to one's mistakes.

[UNPOPULAR OPINION] Why People Power Anniversary Should Be a Special Working Day Instead

As a blogger, I shouldn't turn on the PC in hopes of becoming popular . It should be to turn on the PC and blog to make a difference . Right now, I think about the controversy when President Ferdinand "Bongbong" R. Marcos Jr. declared the 1986 EDSA Revolution's anniversary as a working holiday . The call for some of the "minority lawmakers" is that they want to return the People Power Anniversary to a regular holiday once more. There are times I feel like, "Should we let it be a regular holiday again, so as not to repeat the Marcos dictatorship?" Sadly, the real answer is that the Philippines has been relying too much on EDSA , so it's practically ending up like Nokia . I was thinking about the reality of February being the most hectic month. February only has 28 days (and February 25 is near the month's end ). I thought that the Philippines also has too many national holidays more often than not. In fact, the Inquirer article written by...

Is Jollibee "Invading" South Korea Now as It's About to Acquire 70% of Shabu All Day?

I must confess that I find this new rather hilarious . It's because the word shabu is often associated with drugs. All the while, shabu shabu is a Korean delicacy! Well, I'm going to say that Jollibee Foods Corporation has now become a multinational buyer . Jollibee acquired 70% of Compost Coffee back in 2024 . This year, Jollibee as a multinational corporation is now acquiring Shabu All Day for PHP 5.1 billion pesos. Is Jollibee checkmating South Korea or is the Philippines conquering South Korea not just by OFWs but als through Jollibee? The answer is still no. From GMA News , we can read this article by Jon Viktor D. Cabuenas: Under the deal, Shabu All Day will be consolidated into Jollibee Foods Corp.’s (JFC) financial statements immediately upon completion of the acquisition for a total consideration equivalent to KRW127 billion. Completion of the transaction is subject to closing and financing conditions. The acquisition is expected to lead to a 2% jump in revenues, incre...

"Filipino First Policy" Has NO PLACE in the Rising Asian 21st Century

I guess nobody saw the Asian 21st Century coming, right? China was once a poor nation but look at it now. Vietnam was once a poor nation but look at it now. Singapore was once a poor nation but look at it now. The late great Lee Kuan Yew wrote his book From Third World to First . I'm afraid some people have been using it to go against the presidency of Ferdinand R. Marcos Jr. while ignoring what else Lee Kuan Yew had to say. Lee Kuan Yew described the Filipino press to be rambunctious on pages 304-305 which I agree. I'm afraid that the Filipino press may have had a hand in getting rid of any economic or political reforms that could help the Philippines. Yet, one policy has been holding back the Philippines for decades and yes, it's the Filipino First Policy . Reviewing the Filipino First Policy and why it has no place in the rising Asian 21st century I remembered how the values education subject taught Carlos P. Garcia's stupid Filipino First Policy as a Filipino value...

Filipino Manufacturing's Golden Age ENDED Because of the Filipino First Policy

Here's a picture from the Dose of Disbelief Page on Facebook. Here's something that it wrote: Filipinos once trusted locally made products more than imports. Before World War II, the label "Made in the Philippines" carried prestige, not stigma, reflecting a strong sense of national confidence in domestic production. Local products such as shoes, cigars, textiles, furniture, and food were often preferred over imports. This preference was rooted in the belief that local goods were better adapted to local conditions, tastes, and were often of comparable, if not superior, quality. This period showcases a strong historical era of consumer nationalism and thriving local industries. We need to look into the context of Filipino history If we look at the Philippine history timeline , we must account for 1935-1940, during which the Philippines was under the Commonwealth government. Independence was declared from Spain on June 12, 1898. However, there was a transition period w...

The Prevalence of Fake Rich in the Philippines

Back in 2022, I wrote about why it's deadly to believe someone is rich based on their lifestyle . During my childhood to teenage years, I used to think someone was wealthier because of reasons like: Their parents spoil them with generous allowances. They're driving a luxury car everywhere they go. They have expensive parties every year. They have a lot of luxury brands. The children have so many toys. The list can go on and on , and I believe I might type too many words from there. I grew up with people bragging about how rich they are, even if the claims are preposterous. It's common among children to brag about what they don't have . Unfortunately, some never outgrow that dangerous habit and grow up with a fake rich lifestyle. This is the lifestyle where one wants others to think they're rich, even if they're not rich. The rule of fake rich reverses the advice above. Instead, the fake rich lifestyle says, "Buy a USD 500.00 bag never mind you have noth...

Business & Economics Perspective Blogger

Search This Blog