Pinoy in Singapore

I came across this article by Merry Riana and Noriel Malacaman from www.Pinoysg.com.  I found it to be a good read.  Filipinos should be more conscious of where their money goes.  I know a lot of people who despite having a salary that’s barely enough for their families still want to eat out a lot, or buy the newest gadgets.  Our country would fare so much better if more Filipinos were financially literate.

A huge number of Filipino families are very near the poverty line which means they can barely provide for their basic needs and there is simply not enough money to save. But yet, people will point out, too, that those with very low incomes of Filipinos in general have also poor spending habits. They still spend on non-essential items, like buying a DVD player and TV set, or cigarettes and alcohol, or spending so much for a party to celebrate a child’s first birthday! These people may be considered as living in the “culture of poverty”.

Click here for the full article.