Ever wonder why you feel the urge to hit “Add to Cart” at midnight?
Or why you have friends who seem to save every peso while others go all out without a second thought?
Whether we like it or not, a lot of how we handle money today comes from our childhood experiences and what we saw growing up.
Our upbringing plays a huge role in shaping how we view, spend, and save money.
So, if you’re trying to level up your money game and build better habits, let’s look at some of the classic Filipino money mindsets and how they might be affecting you now.
1. “Money Doesn’t Grow on Trees!”
Hands up if you’ve ever heard a parent say this (maybe more times than you’d like to remember)!
In many Filipino families, money is a serious topic, not exactly something discussed openly or even with ease.
For some of our parents, this was their way of teaching us to respect hard work and be cautious about spending.
Growing up, maybe you heard things like “Save that for later!” or “Turn off the lights, mahal ang kuryente!”
They were reminders to be mindful of every peso, even with the smallest things.
Personal Experience: Growing up, my mom was a total stickler for frugality. She would always tell us stories about how they used to eat sweet potatoes, saging saba, and other root crops to stretch out food when money was tight. So even now, I sometimes feel guilty spending on small luxuries like milk tea or an extra-large fries.
For years, I skipped these small treats because I thought, “Save now, enjoy later.” But as I got older, I learned to find a balance. Saving is great, but spending on little joys here and there is totally okay too!
Pro-tip: If you relate to this, it’s okay to give yourself permission to enjoy a few small luxuries. Saving is important, but spending a little on things that make you happy or comfortable is also worth it. Balance is key!
2. The “Bahala Na Si Batman” Mindset
If you’ve got a bit of YOLO in you or you often say, “Bahala na si Batman” (Batman’s got it covered), you’re not alone!
For many Filipinos, this is more than just a phrase. It’s a survival mindset.
Whether it’s taking risks, leaving things to fate, or making the most out of a tough situation, “bahala na” is about trusting that things will work out somehow.
While this mindset has its pros (like building resilience), it can get dangerous when it comes to money.
If you’re someone who tends to spend impulsively because you think, “Eh, I’ll figure it out later,” watch out!
According to a survey by The Financial Times, 72% of Gen Z consumers admit they make “impulse purchases” simply because they feel like it. Sound familiar?
When people start working, it’s easy to fall into the payday splurge trap. You save part of your salary with good intentions, but once the paycheck hits, you think, “Bahala na, I’ll budget tighter next week.”
You treat yourself to gadgets, clothes, or fancy meals, feeling like a boss for a day. But by mid-month, reality sets in—surviving on canned goods and instant noodles becomes the norm.
The YOLO high feels great in the moment… until “Petsa de Peligro” comes knocking!
Reality Check: Batman may not cover your next credit card bill. To avoid being stressed after impulsive purchases, try setting aside a small “YOLO budget” each month. This way, you get to enjoy without feeling the full-on stress when the bill arrives.
3. “If They Have It, I Should Too!” (aka “Keeping Up with the Influencers”)
With Instagram and TikTok blowing up, it’s hard not to feel the pressure to keep up with what everyone else has. The FOMO (Fear of Missing Out) can hit hard.
You see your friend with the latest iPhone or your favorite influencer unboxing a fancy skincare set, and before you know it, you’re Googling prices and wondering how you can afford it.
According to Bankrate, 61% of Gen Z have admitted to making purchases just because they saw an influencer recommend it. Whether it’s a makeup product, a gadget, or even a trending food spot, social media is one powerful influence on our wallets.
Personal Experience: I’ll admit it – I’ve fallen for the “I need this because everyone else has it” trap. A few years back, I saw an influencer rave about this really cute (and pricey!) water bottle. I convinced myself I needed it to be more motivated to drink water. I spent a chunk of my savings on it… and it ended up sitting on my shelf most of the time. It wasn’t really the bottle I wanted. It was the feeling of keeping up.
Pro-tip: Before you buy, take a step back. Do you actually need it, or is it just the FOMO talking? Next time you feel tempted to buy because it’s trendy, wait a few days and see if you still want it as much.
4. “Save for a Rainy Day” (But With a Purpose!)
Growing up, you might have seen your parents or even grandparents stash away money “just in case.”
Filipinos are pretty good at saving, whether it’s the coins in a big alkansya (piggy bank) or the famous envelope savings system.
But here’s the thing: sometimes we save just to save, without really knowing what we’re saving for.
A great way to make saving feel less boring and more rewarding is to set specific savings goals.
Instead of just hoarding every peso, try dividing your savings for different purposes.
For example, you could have a “travel fund” for future adventures, an “emergency fund” for unexpected expenses, and a “gadget fund” if you want to buy that new phone guilt-free.
Personal Experience: I used to think I was saving just for the sake of it, but it always felt like a chore. Once I started setting goals (like my “concert fund” or a “gadget fund” for a new laptop), I actually felt motivated to save. Each time I reached a goal, it was rewarding and guilt-free because I knew that money was meant for something special.
Pro-tip: Break down your savings into categories that actually excite you. This makes it easier to save consistently and feel good about it!
5. “Money is Evil” vs. “Money is Freedom”
In some Filipino households, money isn’t just a resource – it’s loaded with meaning.
Some of us grew up hearing that wanting more money makes you greedy, or that it’s wrong to desire wealth.
This can create a complex relationship with money.
If you feel guilty for wanting to make more or even for spending on yourself, this might be why.
On the other hand, some of us are raised with the idea that money means freedom, choices, and security.
Healthy Mindset Tip: Money itself isn’t good or bad – it’s just a tool. How you use it is what matters. If you view money as a way to support your dreams, you’ll feel less guilty about wanting to earn more or spend on things that make life better.
Personal Experience: Growing up, I used to think money was something you had to be super careful with – that wanting more was somehow wrong.
It took a while for me to realize that it’s okay to want financial stability and even a bit extra. Now, I focus on earning and using money in a way that helps me build the life I want, not one that keeps me feeling limited.
Final Thoughts: Building New Money Habits for the Future
So, how do we shake off the old mindsets and create new money habits that actually work for us?
Here’s what’s worked for me:
- Be Aware: Understanding why you think about money the way you do can be a game-changer. Once you know what shaped your money habits, you can decide if they’re helping or holding you back.
- Find Balance: It’s totally fine to love saving or to enjoy spending – just make sure you’re doing both with balance. Create a system that lets you enjoy life and feel financially secure.
- Practice Goal-Oriented Saving: Whether it’s travel, gadgets, or an emergency fund, having a specific goal makes saving feel like you’re investing in future fun or security.
Challenge for You: For the next week, try tracking every time you feel the urge to spend, and ask yourself why. Are you buying because you actually need something, or is it an old money habit talking?
Remember, understanding your spending habits is the first step to becoming better with money. Upbringing may shape our money mindset, but we can decide how we’ll grow beyond it.