A Possible Connection Between Overspending and EPAL Among Failipinos?

I have written to the problem of using lifestyle as an indicator of one's wealth.  Now I would want to further discuss my observation and this doesn't require a master economist to figure things out about a possible connection between overspending and the state of EPAL among many Filipinos.  I have noticed more often than not that the lifestyle has become an indicator that one is rich rather than the amount of money that one has in the bank as an indicator that one is rich.

As a child, I remembered how often it is if you have the latest stuff or a lot of stuff, you must be freaking rich and even as a grown-up, that problem didn't disappear from people I already avoid like a plague.  The problem of many Filipinos is how more often than not, they may have the tendency to think that having the latest stuff makes them powerful, never mind even if they become "baon na baon, libing na libing sa utang" or "carrying a heavy debt, much buried in debt" like many OFWs.  It seems to be that they think that the latest i-Phone makes them rich instead of having much ipon (savings) or that driving a BMW makes them rich even if they are BWM (broke without money).

So why do they do all the useless spending?  Failipinos tend to have the feeling that everyone is jealous of them hence the jealousy delusion or perhaps, they just love the idea of others being jealous at them.  Again, it's THINKERS DOERS because they also are the type to have the wrong type of jealousy.  Obvious jealousy is attention, even secret jealousy is attention and I'll admit, jealousy is a natural feeling inside everyone but keep it under control.  As I mentioned earlier, having nice stuff tends to attract people to think you have become rich  never mind you have a HUGE gambling debt to pay off.  Having a thick wallet makes them look powerful never mind that they may have hardly anything in the bank.  Having a huge expensive party makes a person look powerful never mind that maybe, that person who is hosting the party will soon be chased by the caterers for not paying at all.  It attracts attention but again, these people are just like pagpag wrapped in a nice container.  That is, it's all but garbage!

Meanwhile, I am happy how decent Pinoys who want to deviate from the overspending EPAL mindset.  Anti-Filipino?  No.  But they are Anti-Failipino NOT Anti-Filipino.