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Saturday, September 10, 2011

How Filipinos Got Richer By Staying In The Philippines

If you have observed how Filipinos think, work and act when they are living in other parts of the world, you will be puzzled why most of the people in the Philippines remain to be poor, when in fact most Filipinos are really creative, innovative, resourceful and hardworking.

There is something about the Filipino culture that keep most Filipinos in the poverty line.  Without any intention to offend or belittle my fellow Filipinos, I have identified some of the reasons why most Filipinos remain poor because I want every Filipino to be rich.  While I am not oblivious of the fact that most Filipinos have been poor for so long, I stand firm in the belief that there is something each one can do to make the Filipinos rich and the next generations to be so much richer.

Gone are the old, here's the new.  I think the new Philippine notes should symbolize an end to poverty and new beginnings for the richer Pinoys.   
Photo credits:

Now is the perfect time to identify and correct these flaws in order for Pinoys to get rich and succeed in life. 

These are the top reasons why many Filipinos who have been poor for quite a while find it hard to get rich over time:

1)    Filipinos don't read.

Don't get me wrong.  With a high literacy rate, Filipinos can read very well...but most choose NOT TO READ enough.

Many say that Filipinos have “simple minds” and this can be due to the lack of the passion to read.  I remember there were days when reading was encouraged at the MRT stations, were free tabloids called “LIBRE” were given away to the commuters.  Surprisingly, only very few were reading in the MRT cars, as the commuters preferred to “text”, “telebabad”, or chat away if they were commuting with someone.

Why It Caused Some Filipinos To Remain Poor:
Bye To The Old Pinoy.  Since Filipinos do not love to read much, most will not know so much of the opportunities that are available in the marketplace.  Most Filipinos also do not know so much about financial planning, investment options, and how to create opportunities in the market place.

How Pinoys Get Rich and Richer Without Leaving The Philippines: 
Hello To The New And Richer Pinoy.  By simply reading quality materials, Pinoys can get rich without leaving the Philippines.  There are affordable and even free information available for everyone on financial planning, investment options, and how to create opportunities in the market place.  These are sure ways of how to get rich without the need to leave families and work in other countries.  Contrary to what other people think, the richest Filipinos never stop studying, learning, and reading about the opportunities in their respective industries.

2)    Filipinos watch too much low quality programs on TV.  

If Filipinos don't read much, they tend to watch too much TV.  Too much TV has encouraged people to be passive learners.  Those who watch too much TV tend to have “lazy brains” and accept information being fed to them without being critical about it.

Why It Caused Some Filipinos To Remain Poor: 
Bye To The Old Pinoy. By watching poor quality programs on TV, the “Law of Attraction” has worked in the lives of most Filipinos.  If you observe closely, most programs on local TV networks revolve on themes like drama, poverty, and crimes.  Thus the lives of the Filipinos tend to attract drama, poverty and crimes too.  In addition, too much time on TV takes away the needed time to do more productive things.

How Pinoys Get Rich and Richer Without Leaving The Philippines: 
Hello To The New And Richer Pinoy. By simply choosing the quality of programs to watch, Filipinos can get rich.  There are better things to do than watch TV and it is in starting to do more productive things that Filipinos can start accumulating wealth.

3)    Filipinos are educated to find a job.

A typical Filipino family will have the notion that education is important for employment opportunities.  The educational system in the Philippines is also weak in terms of strengthening the entrepreneurial skills of the students at a young age.  Since schools are profit oriented, there are many courses that not only waste the money spent on education, but also waste the time and talents of the students on something that will have little application in the real world.

Why It Caused Some Filipinos To Remain Poor:
Bye To The Old Pinoy. Although there is nothing wrong about employment, working for others means that the income potential of most Filipinos are limited to mostly salaries and wages.  Unlike the rich Filipino-Chinese who run their own businesses, majority of the Filipinos prefer to work for business owners instead.   

How Pinoys Get Rich and Richer Without Leaving The Philippines: 
Hello To The New And Richer Pinoy. Filipinos are naturally creative and can use their creativity to their advantage by starting to run their own real businesses and get rich.  Contrary to what most people think, the biggest of the big businesses in the Philippines today started from almost nothing.  Starting a business need not to have a huge initial capitalization for those who are creative and resourceful.  Surprisingly though, Filipinos are really one of the most creative and resourceful races I know, and the most creative and talented are mostly employed abroad instead of the Philippines.

4)    Filipinos tend to spend the income in the future for the expenses of today.

The willingness to take out loans for gadgets and the joys of today like weddings, baptisms, and fiestas (KBP: Kasal, Binyag, Piyesta).  This is attributed to a typical Filipino’s desire to please friends, relatives, and colleagues (subtle way of acquiring “bragging rights” ).

Why It Caused Some Filipinos To Remain Poor: 
Bye To The Old Pinoy. Any form of spending that is beyond one’s means can accrue as debts that could take a lifetime to pay for most Filipino households.  According to Sunshine Corazon (Charice Pempengco on Glee), she hails from the Philippines, where “the sun is shining all year through”.  Although having such a great weather in the Philippines can be such a blessing, it can also be a weakness in terms of planning.  If you notice, most countries that have winters are successful.  This is because long winters really require people to work harder during summers to save up for the cold months.  Filipinos, having sunny weather all year through, have a poor concept of saving up for the hard days.      

How Pinoys Get Rich and Richer Without Leaving The Philippines:
Hello To The New And Richer Pinoy. Budget planning will help minimize spending to what the household’s income can afford, thus help Pinoys get rich now.  While "keeping up with the San Juan’s and the Domingo’s" will earn instant bragging rights, it will never be good for one's pocket and limits one's ability to accumulate wealth.  Formal or informal education on financial planning will help with effective savings for bigger purchases and future needs and wants.

5)    Filipinos lack a strong sense of nationalism.

This is attributed to the long history of colonialism in the Philippines.  Although this might have changed a bit for the newer generation, there are still some Filipinos who remain to give preference for peoples, professionals, products, services, and ideas from other countries more than their own.  In addition, Filipinos do not really think much of the long term effects of resources in the country being exploited or sold in exchange for low rates or value from the richer countries.

Why It Caused Some Filipinos To Remain Poor:
Bye To The Old Pinoy. In supporting professionals, products, services, and ideas from other countries, the Filipinos spend their money on products and services from richer countries, which could have been spent on those provided by Filipino firms and industries.  In fact, we need the richer countries to buy Philippine products more.  Moreover, by not buying Filipino products, industries and employment opportunities will naturally shrink in the Philippines.  I am quite surprised why Filipinos are blaming the government for the lack of employment opportunities in the country, when in fact, each one will have to check on their product choices and buying habits too.

How Pinoys Get Rich and Richer Without Leaving The Philippines:
Hello To The New And Richer Pinoy.  Buying Filipino products and services can really help alleviate the Philippine industries.  It goes without saying that exploring ways of developing industries that will turn Philippine resources into high value professionals, products and services can make every Pinoy rich without leaving the Philippines.

And those are the top 5 reasons why some Filipinos have remained poor, and I am sure there are other factors that are limiting or contributing to the financial intelligence of most Filipinos.  While the hard truth is that there are still many poor Filipinos out there, there are definitely countless ways how Pinoys can get rich without leaving the Philippines and will be richer and richer through the years.

Success is free for those who take action and get rich now.

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