The Filipinos One Day Millionaire Attitude

It would seem to me that Filipinos these days have improved economic capacity, i.e. more call centers means more jobs, more OFWs means more remittances. Unfortunately, their financial literacy has not risen enough to allow them to make better purchasing decisions hence Filipinos continue to be One-Day Millionaires.

“ I just got my salary a week ago, and now I’m broke?”

“Relatives to OFW – We need money. The money you sent last week is not enough! We will starve if you don’t send.”

The big WHY? We collected here the top ten (10) reasons…


Out of town

Filipinos love going out of town, doesn’t matter if there is an occasion or none. They don’t care how much it will cost as long as they can get out of their “daily routine.”




With more and more international brands opening up stores in the Philippines – Uniqlo, Forever 21, H&M – Filipinos have flocked to these stores in droves on buying sprees. Some even come from as far as north and south of the country just to shop at these stores.


27 responses to “The Filipinos One Day Millionaire Attitude”

  1. people need a break once in a while. we were not born to just work, eat, and sleep. its like you’re saying only filipinos do these. other nationalities do it as well…

    btw, i agree with “giving money to relatives”

    • The author did not say we have to stop these traits entirely. I think the point is to do these things and leisure activities in moderation or by considering your current financial status.

    • I agree on two things in this article. Giving money to relatives and shopping. Why is it hard for filipinos to think about themselves first before anyone else? In the end the people you helped would bot be there to return the favor when you are the ones in need.

  2. I think there’s nothing wrong with any of these as long as you know your boundaries. If you don’t have money to spend or if you think you dont have enough savings then dont do this.

  3. I guess this is being a little stereotypical. True enough, a lot of Filipinos, especially those who live in the more urbanized areas, live beyond their means, but it is not the case for all.

  4. While working in th philippines with a meager salary, they will make sure its just enough to spend and save up for d family but once they go work abroad and send money to the philippines which is actually more what they usually get back then, the relatives will say it’s not enough to spend, need to send more money???and you cannot save up anymore as well:(.

  5. … don’t you know that these restaurants, cinema , shopping malls, spa, beauty salon,bars, hotels and resorts, THEY GENERATE JOBS…. it means we have to roll all the money that we earned and just like the food chain … one has to benefit to the other… so guys … keep on shopping keep in spending because definitely it will return to you later… we have to keep all the business going.

  6. buying groceries in bulk is not really excessive. in fact we can save more by buying wholesale. we buy groceries good for two weeks consumption and it saves us time, energy and money for transportation.

  7. IMHO, Okay sana yung article, hindi lang madyadong na establish yung point nya regarding “lack of financial literacy” ng karamihan ng mga pinoy. Yung walang savings, emergency funds, investments and other sources of income. Na focus sya sa more on sa expense side.

    Hindi rin na close ng maayos ung article, yung bang part na may recommendation sya. Puro puna at negative side ang pinakita, wala yung paano at least mabawasan ang expenses or san ba ang maganda ilagay ang money, anong matutulong ng article or paano ba sya magbudget. Yan din ang ineexpect kong makita.

    • Agree. He also noted some points which are totally unnecessary (i.e grocery and sending money to relatives) and cannot be counted as attributes of our one-day-millionaire attitude. What I look for were ways on how to save and invest your money and I got this: a nitpick article which went nowhere in the end.

      PS: Agree ako roon sa isang commentor na mahilig tayo sa mahal na gadgets.

  8. Agree to some especially malling and OFW but out of town?! Aren’t we encouraging local tourism?

    Plus the work to live or live to work thing?

    Work/Life balance?

    Maybe to sum up your article in one sentence you should’ve said, “Live within your means”?

  9. I don’t agree. I don’t want to be the richest man in the cemetery. Experience everything now that your body still can. Travel. Time is precious. People doing these things know their boundaries.

    • Its better that we Filipinos go out-of-town because we need to smell fresh air, be one with nature, help the local communities and promote tourism.

      as for retail therapy, i really against it especially if we are buyiNg imported things always. for instance, H&M. Why should i buy there if i know that this brand is just another fast & disposable fashion, if i could buy at Penshoppe…same retail concept, but purely Filipino. We should learn to buy things that we only need, and things that we want to buy- in moderation.

  10. The point of buying groceries in S&R is to save a lot by buying in bulk. I mean, that’s it, if you’re looking for high quality products. It is also like duty free.

  11. Last week, I went to S&R BGC no less and I wasn’t able to see what you just said that there are shopping carts after shopping carts just for one buyer alone. I know that scenario happens, but not every day. It happens only when the establishment is on sale wherein you would really save a lot. And those sales doesn’t happen quite often. For me, I think you have lost either your trail of thought or mood when you wrote this article because you have failed to leave a lasting impression on the reader and you have also given the reader of being just led on or left hanging. Please consider rewriting this again.

  12. I believe there is nothing wrong in doing these stuff as long as you have.

    They just don’t just buy it for the sake of buying it. Some have gone earning more and saving more just to buy want they want. It’s a sort of their motivation to save and buy what they want.

    After all, it’s their hard earned money.

  13. I understand what the author was trying to get across, and it’s not “DONT SPEND YOUR MONEY ON THESE THINGS!”. It’s mostly just a general observation about where our money goes and why it’s sometimes too much.

    It is definitely the lack of financial literacy and the discipline to go with it. Additionally, caring what people think about the way you live your life. Fuck what people think, and you’d be happier.

    Only YOLO the shit out of things only if you have extra cash to burn. You can’t just empty out your bank and do the shit you want now just because you’re young and you have a safety net (your mana or whatever). So let’s say you do the shit you want NOW, and what, worry about it later? No, you can do both. Do the shit you want now and save and invest for the future.

  14. Since the author only provided observations and not suggestions:

    1. Sure, we all want to get out of the daily grind, but do your research and take money out of your travel funds. You can’t just make utang and worry about it later.
    2. Stop going for branded clothing all the time. You’d basically get the same thing elsewhere if you know where to look.
    3. For groceries, make a list and bring a calculator. Do not do your groceries hungry or you’ll end up buying junk food.
    4. Go for guestlists if you wanna party. Before going to a club, pre-party elsewhere. Only allow yourself a maximum of just 1 beer or cocktail whenever in a club or bar.
    5. Be comfortable in your own skin. Just because you have a darker hue or you don’t have that white-ass Korean skin, doesn’t mean you plant potatoes or have been peddling under the sun or whatever. Love your skin.

    This is all coming from a 24-year old who likes clubbing and going to bars a lot and traveling 5-7 times a year (plane trips and out of the country). Someone who has a life insurance and mutual funds investment. I’m not rubbing it on your face, but live below your means and you’d be able to enjoy and save at the same time.

  15. That is what the local pop culture calls T.I.T.E – Trabaho Ipon Travel Enjoy. The author might have made sense to the consumers who wonder where they money goes and to those who would like to take saving seriously. However, for those who indulge in all these things to reward themselves without really feeling the financial impact, it’s just perfectly fine. So this article is for the audience who seek guidance on basic financial literacy not for those who love burning money because they have it. After all, our economy grows more the more voracious spenders we have. I don’t spend like what the author has mentioned here because I’m a saver. I’m what they call kuripot. But I actually encourage people to buy things, to travel, to enjoy life, to buy stuff they want and frequently eat in expensive restaurants as reward system for hard work. It is because investors, particularly in the Philippines Stock Market love spenders, not savers. And as an investor, I don’t need a saver, I need a spender. The economy needs spenders, big spenders. And as the economy prosper, the more profit we make. We love spenders 🙂

  16. I think nothing is wrong with all these practices as long as you do it with moderation. Especially when you feel burn out with your work and you really have to go to the spa or eat with friends in a resto that you’ve never gone to. at the end of the day you have to enjoy your life and not to think of paying bills for the rest of your life.

  17. That’s the reason why karamihan ng mga call center agents biglang tatakas sa kanilang pinag sanglaan ng atm nila kasi puro kayabangan sa gadgets at kung ano ano pang mga team gimik or group gimik ang ginagawa. Wala pa nga ang sahod naka plano na kung ano ang gagawin sa payday at sa mga kasunod pang mga paydays tapos kung kani-kanino na lang uutang at tatakas.

    same din yun sa mga asawa ng mga seaman. hindi pa nga nakaalis ang mga seaman, madami na silang utang sa mga lending at kung saan saan. at kung nakaalis na ang seaman at nakapagpadala na ng pera, kung saan saan mall din tumuatambay at hindi na kumakain sa bahay. then kung may chance makabili ng hulugan na kotse, bibili in utang….tapos pagawa ng pagawa ng bahay kahit wala naman problema. Bakbak ng bakbak hanggang gumastos ang mga seaman sa pag repair ng binakbak. at the end of the day, ang bahay na hindi pa naman pala bayad sa financing tuloyan nang mapopornada dahil hindi binabayaran ang arrears sa financing or saan man sinangla……pag mawawalan na ang trabaho puro na reklamo etc etc. Kung may pera naman, mata pobre na at kung akala mo siya na ang mas madaming pera kesa kay Binay……

    Kasi mga mayabang……..



    It depends upon if the necessity to have one is actually a need. Buying the latest and expensive or even the most fairly priced mobile phones and laptops to children is not that practical at all. Technology rapidly change almost every month. The one that is the most advanced for the moment will become obsolete the next month.


    Imagine, your paying P1,000 or more for monthly subscription just to browse facebook and stalk the lives of other people. P1,000 x 12 months = P12,000 a year can go a long way; pay the school tuition or perhaps a 4 month grocery supply for the family.

  19. Studies have shown that the criteria for success in life is measured by the happiness a person feels, by the contentment a petson has in his/her heart and mind and by the satisfaction a person possess each and everyday. And the best evidence of success in life is good health, sound family relationship, solid rapport with fellow men and women and a lifestyle that makes God happy and proud. I don’t mind spending my hard-earned savings or even contracting a loan for a family out of town trip so long as it could cement family relationship.

  20. I studied Microenterprising, I’ve read and studied financial literacy. I agree on almost all you said. But this article of yours needs re-writing. You left readers hanging in a limbo. You stated the problems but did not present solutions. I know that maybe you want readers to solve the problems themselves, but there are quite a few sensitive parts here that needs explaining.

    For example I agree with you that giving money to relatives is not practical. Most Filipinos are very much into this because of our nature of being helpful. And it will hurt them who lacks the proper financial literacy if you straightforwardly tell them they’re wrong at what they’re doing.

    You did not explain that in the future they could do that if they have deeply established themselves financially. Like climbing a mountain. One needs to have gotten himself up the top first, then pull up the others. Not carry with them while they’re climbing.

    So if you could explain why what they’re doing is wrong, and present alternatives and better ideas, then you will see less negative comments here. Only those who are really stuborn and close minded folks will tell you that what you wrote here is wrong.

Leave a Reply

Your email address will not be published. Required fields are marked *