One Day Millionaires

[JJReyes]

It looks like employers have started distributing their 13th month pay.  Yesterday, there were long lines at the ATMs.  Those without money had signs the equivalent of "Out of Stock" notices.  The stores were absolutely packed, and we couldn't find an empty table at nearby restaurants as large family groups were also out to eat.  The feeling I got was everyone just hit the lottery and they better spend their 13th month pay before waking up from a dream.  One day millionaires.  For the remainder of the Christmas holidays, the families will probably go into debt.

[OnMyWay]

21 minutes ago, JJReyes said:

It looks like employers have started distributing their 13th month pay.  Yesterday, there were long lines at the ATMs.  Those without money had signs the equivalent of "Out of Stock" notices.  The stores were absolutely packed, and we couldn't find an empty table at nearby restaurants as large family groups were also out to eat.  The feeling I got was everyone just hit the lottery and they better spend their 13th month pay before waking up from a dream.  One day millionaires.  For the remainder of the Christmas holidays, the families will probably go into debt.

Made the mistake of going to SM Clark yesterday, not realizing about the 13th month payday.  50+ people waiting at each register.  My wife waited over 30 minutes to pay.  I would never wait.

We were at SM Central Olongapo at 8 pm Friday night.  It was quiet.

[Tommy T.]

1 hour ago, JJReyes said:

It looks like employers have started distributing their 13th month pay.  Yesterday, there were long lines at the ATMs.  Those without money had signs the equivalent of "Out of Stock" notices.  The stores were absolutely packed, and we couldn't find an empty table at nearby restaurants as large family groups were also out to eat.  The feeling I got was everyone just hit the lottery and they better spend their 13th month pay before waking up from a dream.  One day millionaires.  For the remainder of the Christmas holidays, the families will probably go into debt.

After visiting many island nations during the past 20+ years, I learned something regarding pay. (This is not universal, but my observation in general...) When the locals get paid, as you already noted, they feel like they are millionaires for a day.... there appears, generally, to be no thought to tomorrow or the next day... And, as you suggest, when tomorrow and the next day come, they are totally broke and take loans to finish their Christmas shopping or simply to pay for their other obligations. There really seems to be little to no concept of "future" with finances in so many island societies, only "today." 

In American Samoa... we all got paid on Friday (me included since I was working there for a time). On Monday morning, some of my employees would approach me and say... "Tomasi (my local name), can you "loan" me $.50 so I can buy some bread?" At least in that society, there was a huge excuse... The family and clan chiefs all had their hands out for portions of the worker's pay. So, no wonder they were broke three days later. I don't know if that is the same system here, but I do know that L's family often needs - or asks for money - for - schooling, motorcycle accidents requiring medical treatments, the family reunion... whatever... this or that. Yet L notices that many of them wear new clothes, whereas both she and I are delighted with used clothes from the used clothes sellers - sari sari stores? They are often like new and sell for a fraction of the cost of new clothes in the stores...

Edited December 12, 2022 by Tommy T.

[Jollygoodfellow]

1 hour ago, JJReyes said:

It looks like employers have started distributing their 13th month pay

My partners company paid on the 30th of November. Normal pay dates are the 15th and 30th each month.

[BrettGC]

In the Aussie navy we called them "pay day barons".  A bunch of guys largely under 25, very well paid fro their age, living on a ship with meals provided.  No prizes for guessing where a most of their money went.... Pay day was every second Thursday, the local pubs (Wooloomooloo in Sydney adjacent to Fleet Base East) would cater for it as would the "gentlemens" clubs just up the road in Kings Cross.  By Sunday everyone was broke and the pubs and strip clubs were a much quiter for the next 10 days or so.   

As they got older common sense kicked in for most.  It's a different context here but from my limited experience here many Filipinos don't seem to grow out of the "if you've got it, spend it" mentality.  

Edited December 12, 2022 by BrettGC

[Onemore52]

Been there, done that. 

[Mike J]

My wife has calculated the 13th month pay for the mother in law's caregivers and other workers and will hand it out this week.   Had my haircut last week and gave the barber 300 peso.  Nice guy with two little kids and he does a good job.  Been cutting my hair for about four years now.  

[Tommy T.]

1 hour ago, Mike J said:

My wife has calculated the 13th month pay for the mother in law's caregivers and other workers and will hand it out this week.   Had my haircut last week and gave the barber 300 peso.  Nice guy with two little kids and he does a good job.  Been cutting my hair for about four years now.  

Much of L's 13 month pay check will go to the family reunion.... Many or most of the attendees pay nothing, but enjoy the lechon and other food along with her P500 each  to her siblings, many of whom don't contribute. I have told her so many times that she needs to save for herself, if for no other reason that, were she not around, who would contribute and pay for her family? She only says that family is most important... I appreciate her heart, but not always her financial direction.

[Gas]

15 hours ago, BrettGC said:

In the Aussie navy we called them "pay day barons".  A bunch of guys largely under 25, very well paid fro their age, living on a ship with meals provided.  No prizes for guessing where a most of their money went.... Pay day was every second Thursday, the local pubs (Wooloomooloo in Sydney adjacent to Fleet Base East) would cater for it as would the "gentlemens" clubs just up the road in Kings Cross.  By Sunday everyone was broke and the pubs and strip clubs were a much quiter for the next 10 days or so.   

As they got older common sense kicked in for most.  It's a different context here but from my limited experience here many Filipinos don't seem to grow out of the "if you've got it, spend it" mentality.  

Quite a few of my neighbors are seaman and it seems the older ones have a different mentality than the younger ones and manage to have a fairly decent nest egg when they retire.

 

2 hours ago, Mike J said:

My wife has calculated the 13th month pay for the mother in law's caregivers and other workers and will hand it out this week.   Had my haircut last week and gave the barber 300 peso.  Nice guy with two little kids and he does a good job.  Been cutting my hair for about four years now.  

Most of my employees are technically self employed, so no need to give 13 month pay, but I do give them a good Christmas bonus. 
I’ve learnt over the years to give the bonus a day or two before Christmas Day, as otherwise their work mentality seems to change if it’s too early. 
Like you I give generous tips at Christmas. Wife always says it will come back double. I’m still waiting 🙂

[Dave Hounddriver]

1 hour ago, Gas said:

Most of my employees are technically self employed, so no need to give 13 month pay

I wonder if you have confirmed this?  Marcos brought this law in and I am sure his son will keep it in place.  As I read the law, the only ones who are not entitled are management:
 

Quote

 

There are certain types of employees who are entitled to 13th month pay as follows: (a) employees paid by results or employees who are paid on piece work basis; employees who are paid a fixed or guaranteed wage plus commission are also entitled to the mandated 13th month pay, based on their total earnings during the calendar year, i.e., on both their fixed or guaranteed wage and commission; (b) those with multiple employers.

https://car.dole.gov.ph/news/understanding-13th-month-pay-and-christmas-bonus