Filipinos and Why The Poor Budgeting Habits Happen


There's no doubt that many Filipinos are so stuck in the word spelled above in all capital letters, "LOAN".  And why is that?  No doubt the Philippines is filled with so much of the poor budgeting habits.  I have noticed how many Pinoys tend to spend left and right, do reckless stuff like gambling (and mind you most people lose more than they gain) or you could think about why the Philippines is so full of poor budgeting habits and here's what's going on and this includes the government!

1.) Wastefulness as a tradition

I would admit that wastefulness has become a way of life among many Pinoys.  I have noticed how it becomes, every pay day is another day to slack.  I could remember how a manservant has knocked himself out on payday and ended up losing all the money he worked to earn for two weeks in just one night's setting. I can also remember how when payday comes, all they talk about is "getting together" rather than save the money first because of the more important expenses in life.  Okay if they want to get together, they could just go to simpler places but instead, they had to go to fancy-shmancy restaurants which is stupid!

I have nothing against feasts but the problem has to be when they do their feasts rather extravagantly and openly.  I mean, I do celebrate feasts like birthdays and anniversaries but why so lavishly?  You might as well get ready for the worse because many of your guests are most likely going to bring a table full of friends so get more tables ready!  In short, it's all about gatecrashing!

2.) Materialistic lifestyles

Sad to say but a lot of Pinoys have a very materialistic lifestyle.  Oh boy, even the Pinoys in the poor status can even be there.  I knew of some Pinoys who while dressing up lavishly, won't ride a "cheap vehicle", mock regular cars and say, "It should be a BMW..." type of talk, you get a lot of humbug.  Even if they can't afford it, they would buy the latest i-Phone when they can do with a regular phone, they would buy the most expensive branded clothes in numbers, they would always choose something pricy not because of the value but just to feel rich.

If you ask me that's stupid!  Why do I say the pricy mentality is stupid?  One I remembered getting expensive clothes and they were just as the same value as my regular clothes.  Also, I remembered some restaurants are very pricy yet the food is bad, so that means I am not getting the value I pay for.  In that case, you miss out value because of price.  Quality overrides quantity and that's the rule of spending.  I reject cheaply made products as much as I reject ridiculously priced products!

So what makes these people worse?  Sooner or later, they run out of money, they start loaning money and they run away with the debt with them.  I've been cheated by such people mind you and I really hate to talk about it in detail.  These are the types of people who will cheat people for easy money, if they are lawyers then these the types to accept cases they should not accept and even steal from others.  Why some people steal money whether rich or poor is to sustain their extravagant lifestyles.

3.) Misplaced priorities

It's a sad fact but many Pinoys have very many misplaced priorities.  It's always the procrastination, pleasure now, work later mentality which can be linked to wastefulness as a tradition.  Just imagine skipping important stuff like meetings, exams major or minor, group meetings, etc. for the sake of pleasure.  Until now, I cannot forget such incidents how somebody was purposely absent from a group meeting to attend her friend's wedding or another, how another one wanted to sue her teacher for not giving her a special exam when she was absent for an unexcused reason.  That unexcused reason had to be where she went to the mall to see a famous actor and said it was her "treatment" for her non-existent "disease".  Stupid huh?

So what makes matters worse are along these misplaced priorities come in the stupid lawyers.  A smart lawyer rejects any invalid case no matter how big the offer for money is.  He or she will only entertain valid cases. But these stupid lawyers have their materialistic lifestyles, wasteful living and misplaced priorities.  They accept cases as a result of misplaced priority like a student who wants to sue his or her teacher for not letting him or her take the exam because of valid reasons (ex. unfinished requirements).

Also with the government, I did remember how Pinoy politics can be so stupid.  You could remember how the Senate gave too much value on Vitaliano Aguirre Jr.'s minor contempt ignoring the whole Renato Corona trial.  I mean, minor contempt can always be dealt with immediately, no caucus is needed!  And yet they wasted time on the caucus plus he's not the only prosecutor who has done something wrong.  The others have done much worse.  In fact, that's why Miriam Defensor Santiago blew her top a lot against them as a whole because of such misplaced priorities also lead to bad budgeting decisions.

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