How Financial Responsibilities Change The Way Filipinos Think and Act About Money
This article is posted under General Information, Personal Finance.
When I graduated from college and got my first job, I officially became financially independent.
For almost ten years since that time, all my income was mine alone to spend on whatever I need and want.
But then, I slowly realized that my parents have not fully prepared for their retirement, and time would soon come that I would have to support them.
From that moment on, my spending priorities and aspirations changed. It shifted from just taking care of myself and pursuing my dreams, towards including my parents’ future needs.
It was the same for most of my friends too, whose financial responsibilities also included providing for their own children.
Below is a simple look at how people with and without financial dependents differ in the way they spend, the things they worry about, their short-term priorities and medium-term aspirations.
See if you can relate to these findings as first reported in the 2013 SOLAR FLARe by Sun Life Philippines.
What can you say about the data above?
For me, the most interesting information there is that having a business emerged as the top aspiration for both groups.
Is being an entrepreneur your top aspiration? Share your thoughts below in the comments section.
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