Friday, November 8, 2013

Why Pinoys Do Not Plan for the Future

In the advent of the Supertyphoon Yolanda, many people, government agencies, and other groups are preparing for the potential disaster that this calamity can cause. My friends and I went to Iloilo City Hall two days ago and I heard how the Liga ng mga Barangay President Hon. Carlos Guarin told about them having a meeting for the preparation for Yolanda. 

Yolanda is a great natural event that has the potential to destroy properties and lives. It will ravage the countryside for a day or two. 

The thought that came to my mind was that people plan for this but Filipinos do not plan for the future.

Why do I say this?

Pinoys do not think about their future regarding finances.  Here are the reasons why I think they do that:

1. Pinoys often depend on their children when they grow old. It is in the Bible that children should take care of their parents when they are old. However, parents are also commanded to leave a good inheritance for their children up to their children’s children. This implies that parents and young people should prepare for their finances. Parents have this mentality that their children should take care of them financially. There is nothing wrong with that if the children do it with joy and love. 

2. Pinoys think their income is not enough. They think that they cannot save if they have only enough for their daily needs.

3. Pinoys depend on their GSIS/SSS retirement plan. I wrote an article saying that Pinoys should not depend on their SSS plan. Just click here to read that article.

4. Pinoys do not believe in investment. However, they think that they need that money ASAP instead of investing.

5. Pinoys depend on their wealthy relative. This is the one trait that I really do not like with Pinoys. Each person made his own effort so he can overcome poverty. Here comes the relative member who thinks he or she deserves a portion of the pie of the hard work done by these Pinoys.

6. Pinoys do not know how to invest. They would rather save their money though piggy banks where thieves cannot break nor steal (in their minds alone).
These are the ways why I think Filipinos fail to plan for the future.

Here are some ways Pinoys can prepare for the future.

1. Find ways to increase your income. It is better to rely on residual income rather than passive income. 

2. Read articles, books, and surf the net about personal finance.  You spend too much time in facebook for Candy Crush events that will not generate you money. Shift that time into learning.

3. Stop impulse buying.

4. Put your money in investment vehicles.

5. You can join referral marketing as a vehicle for preparing for your future.

If you want to know more on how to prepare financially for the future, feel free to send me an email or even text me if you are Pinoy. You can also post comments on the comment box!

Let us be prepared for the future. 

To Your Financial Success!

 Lornajane Altura


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  1. I agree that Pinoys are not good at planning as we are so good with the "bahala na" attitude. It's really a good move if we start investing.

    1. Hi Franc :) Yes. So what investments have you already been into? :)

  2. Agree with this. Though I'm guilty about all of these reasons but i am trying to start saving. All pinoys are aware of everything but still our attitude continues. Though we're like that I hope each and everyone is starting doing the right thing now. Before it's too late. :)

    1. Hi Patricia :) So what are the steps that you are doing so you can plan for the future?