Saturday, March 20, 2010

Ugh, Irritating How Rich Pinoys Spend their Money

Rich Filipinos spend more than Asian counterparts: study

MANILA, Philippines - Wealthy Filipinos spend more than rich Singapore and Hong Kong residents do, especially every month on groceries, travel and utilities payment, a survey by payments technology firm Visa International Inc. revealed.

Visa’s poll on spending patterns and perspectives of high-income households revealed that “affluent” Filipinos —households with a minimum P0.1-million monthly net income—spend on average $2,401 (roughly P116,940), following the rich Japanese with $2,541 monthly spend (P123,746.70 at $1=P48.70) and the top-spender Australians at $3,851 (P187,561.80).

The spending is apparently a combination of cash and credit transactions.

In dollar terms, the 500 respondents from the Philippines spend more than those in Hong Kong ($2,327) and Singapore ($2,152). The rich in India are the lowest spenders in the nine countries and territories polled with a monthly average total spend of $693.

According to the document from Visa, they commissioned the poll “to further understand the attitudes, motivations and behaviors of affluent consumers. By doing so, Visa is able to provide better products to suit affluent consumers’ everyday lives.”

The company said the survey interviewed 500 respondents belonging to the AB segment in each of nine Asia-Pacific countries and territories: Australia, Japan, South Korea, India, Singapore, China, Hong Kong, Taiwan and the Philippines.

“All respondents were aged 18 and above and of equal gender split. For the Philippines, these are people with a household income of at least P100,001 per month.”

Social habits

Like their fellow Asians, these Filipinos spend time surfing the Internet once a week or more (74% versus the regional average of 93%) and exercise “to keep fit and healthy” (63% vs. the region’s 73% average).

In terms of social habits, majority (91%) of the affluent Filipinos polled prefer being with their families; the regional average is 92%.

This is followed by entertaining guests at home (42% said they do this once a week, while 37% said they do this about once a month). But those who said they eat out with friends and family at gourmet restaurants once a month are more (49%) than those who do this once a week (41%).

Only a percentage of the respondents said they never engage in this social activity.

About 45 affluent Filipinos shop on the Internet about once a week or more, while 20% of those polled said they buy something online once a month. Those who said they never transact online account for 35% of the respondents in the Philippines.

Top purchases

The survey revealed that a large proportion of monthly spend for affluent Filipinos go to grocery purchases (14%), travel (12%) and utilities payment (10%).

At fourth and fifth spots are mortgage/rental and luxury goods, respectively, both allotted an 8% share of the total 15 spending categories.

The items least spent on (2%) are on music, compact discs, digital video discs and books.

“Affluent Filipinos are the most likely to spend the highest proportion of their budget on groceries among…counterparts from the Asia-Pacific countries and territories included in the survey.”

The percentage of affluent Filipinos who said they shop for cosmetics and perfumes once a month are higher than those who buy luxury apparels and accessories and clothing brands (36%), the latest electronics gadget (19%), and designer jewelry (18%).

Interestingly, there are those who buy such items about once a week or more: 8% on cosmetics and perfumes; 7% on luxury apparels and accessories and clothing brands; 2% on electronics gadget; and 2% also on designer jewelry.

The affluent Indians and Chinese (65% and 50%, respectively) lead the monthly spend on cosmetics and perfumes. Still, “affluent Filipino respondents are willing to spend more on long-term luxury items and experiences such as their child’s wedding [with average amount of P188,112], home entertainment system [at P42,727], and luxury weekends for two [for P28,339].”

Weddings, parties

Child’s wedding tops maximum spend in region

The top three categories for maximum spend in the region are child’s wedding, jewelry and home entertainment.

Other categories that affluent Filipinos spend on, in decreasing spend allocation, are jewelry, personal digital assistant or mobile phone, watch, annual donations to charity, a night out with friends or family, a pair of shoes, a dinner for two at a fine-dining restaurant, and a bottle of wine.

According to Visa, affluent Singaporean respondents are the most willing to spend extravagantly on their child’s wedding (spending $14,242) and jewelry (spending $1,933), while affluent Australian respondents are twice as willing to spend on home entertainment system compared with other marketplaces ($2,166).

Uncertain future

During crunch time, majority of the respondent affluent Filipinos said they will consider reducing their spending on nonessentials as a result, despite their tendency to be optimistic in terms of their attitude toward the Asian economy.

Only 2 out of 5 of the affluent Filipino respondents were uncertain or felt negatively toward the future.

Among those who are uncertain of what to expect about the Asian economy, 88% will consider reducing their spending.

“This percentage was the highest among the affluent people interviewed from nine countries and territories included in the survey,” Visa said, noting that “Singaporean respondents at 83% and Taiwanese respondents at 80% were second and third, respectively, as the next most likely to consider reducing spending.”

Visa added: “Spend reduction of affluent Filipino respondents will mostly impact nonessentials such as electronic appliances [85% of respondents, the highest among Asia-Pacific countries and territories included in survey], luxury goods [81%] and entertainment [78%].”

The survey revealed that affluent Filipinos’ spend on fashion, skin-care products/cosmetics are less affected.

The regional average on expected reduction to discretionary spending indicates that dining (at 67%), luxury goods (at 66%) and entertainment (at 62%) are the first three to be cut.

Source


Kaya ako bitter sa mga mayayaman.


Friday, March 19, 2010

Hug Yourself


Mood: Super sad...


Wednesday, March 17, 2010

Monday, March 15, 2010

My take on bad news and negativities

A: "Hi"
Suplada:
"Hi!
"
A:
"Naala mo pa ako?"

Suplada:
"Uhm, hindi na eh. Sorry"

A: "Pinsan mo ako. Anak ako ni *****"
Suplada: "Ah, Hi! Kamusta?"
A:
"Ayun si momi, nastroke, patay na ang kalahati ng katawan niya.
"

Ever since I became a mother I enjoy life and I value it as much as I could. I don't want negativities. I don't want bad news. I don't want drama. I don't talk to drama queens (Except my mom).

If we parted ways or we lost contact or for some reason we were unable to talk for quite some time, please give me space to remember you or at least spare me from all the bad news and negativities.

Ok?

Let's just spread joy, peace and love. After all, Christmas is just 9 months away.

Mood: Dizzy

Words for Women to Live By in 2010

I just had to repost this.

Words for Women to Live By in 2010

1. Aspire to be Barbie - the bitch has everything.
2. If the shoe fits - buy them in every color.
3. Take life with a pinch of salt.... A wedge of lime, and a shot of tequila.

4. In need of a support group? - Cocktail hour with the girls!

5. Go on the 30 day diet.

6. When life gets you down - just put on your big girl panties and deal with it.

7. Let your greatest fear be that there is no PMS and this is just your personality.
8. I know I'm in my own little world, but it's okay. They know me here.
9. Lead me not into temptation, I can find it myself.
10. Don't get your knickers in a knot; it solves nothing and makes you walk funny.
11. When life gives you lemons in 2010 - turn it into lemonade then mix it with vodka.
12. Remember where ever there is a good looking; sweet, single or married man there is a woman tired of his bullshit!

13. Keep your chin up, only the first 40 years of parenthood are the hardest.
14. If it has Tires or Testicles it's gonna give you trouble.
15. By the time a women realizes her mother was right, she has a daughter who thinks she's wrong.

Mood: Excited

Thursday, March 11, 2010

Wednesday, March 10, 2010

Quarter Life Shit

I just realized that I'm 25.

Then I asked myself...

When was the last time I did something for the first time?
Then I answered, 6 months ago. I gave birth to a beautiful baby girl.



But that was half a year ago. I need to think of something else to do for the first time.

Any ideas?

ACK!!!!

In my attempt to reassure myself that I'm still lucky to be living in the Philippines, I tried to look for the dirtiest cities in the world. Surprisingly AND thankfully ,there was no Philippine city in the list.

Rudnaya Pristan, Russia
- Just about everything in and around this 90,000-person city is full of lead from smelting operations. The plant has been shut down, and plans are being readied for repairs to lives and land.

Ranipet, India - Ranipet’s pollution can affect up to 3 million people, as it is upstream from populous Chennai. Its tannery waste amounted to 1,500,000 tons a year of toxic material. There is contamination of ground and water. There are efforts being made at containment.

Norlisk Russia - The former slave labor site has a range of pollutants including Strontium-90, Cesium-137 and lesser evils, including hydrogen sulfide. It still holds the world's largest heavy metal smelting complex.
Mailuu-Suu Kyrygzstan - Mailuu-Suu has been a source of multiple disasters. It was a huge uranium processing center. The bombs are somewhere else, but there remains 1.96 million cubic meters of mining waste that is radioactive. The World Bank is starting a containment project in this seismically active area. Linfen, China - Linfen is not alone among polluting cities in China, but it is one of the greatest offenders. It suffers from pollutants such as fly-ash, sulfur dioxide, carbon monoxide, arsenic, lead and nitrogen oxides. Coal mining, burning and hauling are responsible for a great deal of this dirtiness, which affects the air, the ground and the water
La Oroya, Peru - A poly-metallic smelter has exposed La Oroya citizens to toxic emissions for decades. This has resulted in high lead levels in the blood of the children of the city of 35,000. Nearly 100% of the children are over-exposed. The city also suffers from sulfur dioxide emissions, and this has killed the surrounding vegetation.

Source: Forbes.com

In Russia and Central Asia they emit pollutants that I've never heard of. Strontium-90, Cesium-137? What are these? What are its usage? Can somebody enlighten me?

The other day, I was reading about Dalai Lama, Falun Gong and China issues.
Yesterday, I was reading about Baghdad's list of insurgencies, human bombs and Sunni and Shia Muslims.

Today, I'm reading uranium, strontium, Russia and Kyrygzstan.

I wonder what I would do tomorrow.


Mood: Geeky!

Monday, March 8, 2010

Life changing

All of us will at some point experience life changing situations. Life changing situations that we think will bring either the most positive things or the other way around.

At 25, I've experienced quite a few life changing situations that made me become who I am now.

I experienced a life threatening 7.6 magnitude earthquake when I was 6 years old. I saw people rolling down the streets of Baguio. I was holding a statue of Santo Nino while I heard my sister crying. She was 1 year old. We were all alone with my mother and our yayas. My father was in Manila that time. I'm sure he was freaking out too.

My dad died when I was 18. It was a sudden death. My dad never saw my achievements after high school.

I got married at 24 due to some reasons that I would rather not elaborate. It was a tough decision.

I don't know what my point really is. But if you noticed, I rarely complain anymore in this blog. I used to rant and complain a lot. I'm a changed woman now. Not that I'm nicer. LOL. It's just that motherhood has really taught me to become more patient and to think twice every time I make decisions.

Early this morning, I was talking to my doctor to schedule my long over due surgery. This was supposed to be done in February but because of some conflicts, it has been moved.

Scheduling my surgery was much more difficult than I thought it would be. I know that everything will turn out fine. As my sister always tells me, I have the best doctors. But the idea that I'll have to be in the table again and all sorts of machines will be connected to my not so frail body are kinda freaky. Especially now, that being healthy is the most important thing in my list. I need to be strong and healthy for my baby.

You see, my friends of my age decide on which shoes to buy, or where to go this summer or what top will best suit them. On the other hand, I decide when my surgery would be, what milk should I buy and which diaper will best fit Lily.

It's all about perspective, choices and priorities. Mine are a lot different now. I'm not saying I miss being single, but I'm also wishing that I could do some things that single people do all the time.

Yes, I miss shopping. :x