A Very Unhappy New Year Indeed When One's Broke As A Joke

Well, happy new year or is it? I would say that saying "Happy new year!" to people can either be a compliment or a putdown. Why would it be both a compliment or a putdown? It's because some people still have money or got more money after the new year. Some people may be richer due to high revenues and due to keeping the Christmas bonuses and 13th monthly pay wisely. However, saying "Happy new year!" would be a putdown or insult if you've wasted all your money on the Christmas and New Year celebrations. Worse, if you ended up spending more than one saves because of stuff like firecracker-related injuries.

There's nothing wrong with celebrating Christmas and New Year. The problem is when one treats celebrations like recreational drugs. If you want to celebrate then celebrate within your means. It reminds me of how some people go home to their families, spend time together, have a simple celebration, cook fancy food, and the like. However, many Filipinos tend to really just spend and spend their money without thinking. Spending is part of economics but if you have no savings then you have no source for spending! Their financial literacy is that low - which in turn makes them easy recruits to communists and financial scammers promising to fulfill their unrealistic fantasies. Rappler even speaks the truth that most Filipinos don't even maintain a bank account! They have all their salaries, Christmas bonuses, 13th-month payment, and OFW families have HIGH REMITTANCES. But why didn't they open a bank account? It's because many Filipinos tend to spend the money once they receive it rather than plan on what to do with it. It may sound racist but that's one truth they need to face and RESOLVE.

I really think about the whole rude awakening that will come by January 2, 2020. I do expect a great cry from many Filipinos when they realize they're broke as a joke. They ended up spending a lot during Christmas and the New Year. They could have avoided last-minute Christmas shopping if they learned to improve their budgeting habits. Instead, they choose to be spendthrift. If there's no money for Christmas shopping then loan. Ran out of money for Christmas parties? Loan again! No more money for the New Year Party? Loan again. What's not surprising is that many of them don't even understand how BASIC ECONOMICS works. Is it me or people who only know how to spend but not to save can't really understand basic economic concepts? That's why I even wonder if such people wish that it was Christmas every day in the Philippines. Christmas every day is an idea that sounds good only on paper but would drive people bankrupt should it be a reality.

Right now, I'd suggest reading some smart Pinoy money tips. Learning how to be thrifty and saving for a rainy day is not anti-Filipino nor is it exclusive to Chinese and Jews. Instead, Filipinos should learn some smart financial tips instead of having to wait for payday and the Christmas season.