Are You Rich?

[JJReyes]

In the Philippines, product advertising is based on the socio-economic level of the targeted group.  A letter is assigned to each depending on annual household income:

A - PHP1,857,000 (upper class)
B - PHP1,000,000 (upper middle class)
C - PHP603,000 (middle class)
D - PHP191,000 (lower middle class)
E - PHP62,000 (lower class)

The above is gross income before social security contributions, income tax and personal savings.  I assume members of this forum are either A, B or C.  These sums should be sufficient to pay for cost of living if you reside by yourself or with a spouse/gf.   If you have less, it is still possible to survive using the average Filipino annual family income which was approximately PHP267,000 in 2016.  This amount is sufficient to cover basic needs plus a little extra for added comfort and services..  Poor?  The Philippine definition is less than PHP5,000 a month or PHP60,000 per year. That's for a household with 5 persons!
 

Edited October 31, 2018 by JJReyes
corrected data

[BrettGC]

Interesting.  I wonder if they assume any given level for expats.  

[hk blues]

Interesting but kinda irrelevant as it doesn't include any reference to size of household. A single person's income may be less than half that of a married guy with 5 kids but the single will be much richer IMO.

Edited November 1, 2018 by hk blues

[sonjack2847]

8 hours ago, BrettGC said:

Interesting.  I wonder if they assume any given level for expats.  

A++

 

[Dave Hounddriver]

9 hours ago, BrettGC said:

I wonder if they assume any given level for expats.  

Expats are seen as:

[BrettGC]

34 minutes ago, Dave Hounddriver said:

Expats are seen as:

Figured as much... Walking ATMs.  

[JJReyes]

13 hours ago, BrettGC said:

Interesting.  I wonder if they assume any given level for expats.  

Advertisers classify expats as A & B.

12 hours ago, hk blues said:

Interesting but kinda irrelevant as it doesn't include any reference to size of household. A single person's income may be less than half that of a married guy with 5 kids but the single will be much richer IMO.

US typical household is 2 adults, 2 children.  Philippines is 2 adults, 3 children.  Income could mean one or two or more persons per household. For purposes of data gathering, the income of a single person living alone is considered one household.  How the money is used (rent, food, transportation, entertainment, savings) is a different story.

The above is used by advertisers and their marketing/advertising agencies.  The Philippines Statistics Authority uses a different definition. I believe they only have three income classifications.  The latest published on the Internet is for 2015.   

 

[graham59]

DISPOSABLE income is the only one that makes any sense, IMHO.    

[Jack Peterson]

2 hours ago, graham59 said:

DISPOSABLE income is the only one that makes any sense, IMHO.    

 Quite right, in fact for me, it is the Only one that matters now, with a fixed income 

[graham59]

Me too, being an OAP... well and truly on the scrap heap.  

My Mrs is a bit younger though...  

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