A Pulse Asia survey released today says 70 percent of Filipinos feel they are “worse off now” than three years ago and most expect that things are going to get even worse.
Pulse Asia’s survey didn’t indicate why the respondents feel this growing pessimism: are they losing their jobs, eating less, suffering a loss of income, etc? Just that the quality of life is going downhill.
I don’t see these yet in the people that I interview. Aside from the voluntary reduction in spending to prepare for the hard times ahead, like choosing to eat at home instead of having dinners in restaurants, or going potluck when organizing parties, and reducing gift budgets for Christmas, I haven’t seen any mass layoffs yet and the malls are still packed with people carrying all sorts of purchases. At least, so far.
How about you? Are you feeling the crisis? How are you preparing your finances? Here are some suggestions:
- Save more aggressively and shop more responsibly. If you used to save 20 percent of your salary every month, see if you can raise the notch up a little bit.
- Postpone vacations. Make staying at home a little bit more exciting for spouse and kids with simple and creative activities.
- Postpone big purchases.
- Pay off credit card debt faster. Just by doing that, you let your finances breathe so much better.
- Manage telecommunications cost. Texting and mobile phone usage can be a quiet financial termite, and so can Internet connection.
Any more tips you want to share?
November 29th, 2008 at 9:56 pm
One thing the hubby and I have done not just to save money but to go back to the basics (going to the mall, eating at expensive restaurants, I find, is getting to be a little unsatisfying now) is to take walks at the UP Circle during the weekend…. Amidst the trees, we get to talk, look at the stars, wonder at the kulisap and follow his progress. Our little girl loves it and says, every time, that it is the nicest night of her life. We plan to bring her bike or her scooter the next time. I wish, though, that we had more libraries where we there is an abundance of good books that we can read for free and in silence (and without the hazard going to libraries entails like bringing a form 5 or applying for an ID haha), or parks where we could bring a picnic basket. Oh… there is Lamesa Dam and it is so near. Maybe next time…
November 28th, 2008 at 4:25 pm
We Filipinos have experienced almost all crisis imaginable. But look at us, we are standing with that famous pinoy smile… i guess its not in the money.. its the attitude. Because by any means, pinoys are survivors…. we will always find a way….
November 26th, 2008 at 11:57 am
i feel the financial crisis already.
- NAVPS are delcining
- only few software projects related to our skills are offered
- few to many had been retrenched.
- no more christmas party from most companies.
but its not avoiding me to do my christmas list
http://earathou.i.ph/blogs/earathou/2008/11/19/my-christmas-wishlist/
(^_^)
November 25th, 2008 at 10:25 am
well, the company has just announced that there will be no increases worldwide for next year… I guess that’s that!
November 24th, 2008 at 8:34 pm
Feeling the crisis?
Not……yet, but from all indications 2009 will be a wild year for all. Let’s just be calm and try our best to keep things in perspective. Any crisis will always bring out the best in people, at the very least we think more of the really important things in life. Dyan makikita na magaling ang Pinoy sa diskarte.