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?
25 Responses to “Are you feeling the crisis?”
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Pages: « 5 4 3 [2] 1 » Show All
November 21st, 2008 at 9:55 am
Company sponsored Christmas Party’s are here again…
with it comes the raffle prices.
I usually wait for the winner to be announced and If I like the price, I get it from the winner in exchange for instant cash.
I either use it or resell it at a higher price then.
Also, how about changing your shopping spree, instead of the usual mall, go to divisoria,baclaran and sta.cruz. you will have lots of exercise and savings too.
November 21st, 2008 at 8:12 am
a simple solution…
live within your means
November 21st, 2008 at 8:00 am
i think the feeling comes from the rising cost of basic necessities. just yesterday, i did my grocery and found out that the 2kg of tide is now P233. last month, it was only P209 from the same store.
hubby and i have received a substantial increase in our salaries but still, we find this year one of the worst years financially. prices are just too damn high!
personally, i’ve done #1 and #2.
November 21st, 2008 at 12:57 am
Surveys are just a compilation of what people answers but it may not be the reality. Surveys are different to the accurate data. Filipinos has an attitude for many years of saying below the level of reality. Many middle to wealthy people will say they are not rich when ask what their status. Many will say they are hungry even if their not. Since I was in grade school (Marcos era), year after year I heard the old saying that life is harder and harder, it’s difficult to get a job nowadays, the country is getting poorer and poorer. I heard these sayings by politicians, adult people and most especially people in media every single year for four decades. NOT a single year I’ve heard most Filipinos say that our country’s economic situation improved. Yet despite this survey of sentiments, if it’s really true that every single year that our economic situation is getting harder and harder, how come that between now and 40 years ago we are seeing a lot of differences. Many Filipinos today have cellphones, TV, radio, cars. Forty years ago if u have these you are considered rich. We can see more high-rise buildings, more roads, LRTs, MRTs, more people travel by plane and shopping malls sprouting all over the country. Travel is a lot easier now that places that are far before seem got nearer. More middle incomes can now go for a vacation to nearby asian countries. If it’s really true what I heard from Filipinos since 40 years ago that life in the Philippines are getting bad every single year, then HOW ARE THESE DEVELOPMENTS POSSIBLE? Is the media feature more of the worst that are greatly influencing the people? What we hear people say from surveys may be far from TRUTH.
November 21st, 2008 at 12:55 am
Surveys are just a compilation of what people answers but it may not be the reality. Surveys are different to the accurate data. Filipinos has an attitude for many years of saying below the level of reality. Many middle to wealthy people will say they are not rich when ask what their status. Many will say they are hungry even if their not. Since I was in grade school (Marcos era), year after year I heard the old saying that life is harder and harder, it’s difficult to get a job nowadays, the country is getting poorer and poorer. I heard these sayings by politicians, adult people and most especially people in media every single year for four decades. NOT a single year I’ve heard most Filipinos say that our country’s economic situation improved. Yet despite this survey of sentiments, if it’s really true that every single year that our economic situation is getting harder and harder, how come that between now and 40 years ago we are seeing a lot of differences. Many Filipinos today have cellphones, TV, radio, cars. Forty years ago if u have these you are considered rich. We can see more high-rise buildings, more roads, LRTs, MRTs, more people travel by plane and shopping malls sprouting all over the country. Travel is a lot easier now that places that are far before seem got nearer. More middle incomes can now go for a vacation to nearby asian countries. If it’s really true what I heard from Filipinos since 40 years ago that life in the Philippines are getting bad every single year, then HOW ARE THESE DEVELOPMENTS POSSIBLE? Is the media feature more of the worst that are greatly influencing the people? What we hear people say from surveys may be far