Lifestyle Inflation / It’s not how much you make, but what you save that matters

A question was posed by a young, single professional guy working in manila, in an online forum. He asked, can he live on a PhP 20,000.00 (roughly USD 425.00) monthly salary*? He wants to buy a condo, a car and save for his retirement. There were mixed responses. … More Lifestyle Inflation / It’s not how much you make, but what you save that matters

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Why playing yolo with money isn’t the way to go

I’m sad to see that most millenials and young Pinoys have fallen prey to the so-called yolo lifestyle. The motto, you only live once (“yolo”) is used to justify throwing caution to the wind and rearranging priorities, putting experiences ahead of the basic needs for food, shelter and clothing. Many end up going on their international adventures, charging plane tickets and hotels to their credit cards, all while presenting credit card statements to support visa applications at embassies (when did debt ever become proof of assets?). A lot of young Pinoys, including young lawyers, must delay certain typical milestones in life such as marriage, buying a home and living on their own because they have not saved enough money despite their perceived high incomes. … More Why playing yolo with money isn’t the way to go