With 7.2% inflation and corruption on top of it... I just want to spend more
Is it just me? The economy is so bad these days that I just feel like spending recklessly. The government is corrupt to the bone, and the only thing I know for sure is that the money I've saved is going to be worth even less later. Look at fast food these days. I used to never order the most expensive item on the menu, even when I wanted to, because I was only thinking about putting that money into savings. But now I'm spending money like crazy, thinking that it's now or never.
I know I'm supposed to invest in something. But with everything this uncertain, especially now that AI is replacing our jobs, when will I ever get to enjoy the fruits of my effort? Housing prices are more out of reach than ever, and that's all I've wanted my whole life -- even saving feels pointless.
When I buy something, I can see the value of my money and enjoy it. It feels like I actually have my money right now, in this moment. I know I should think of it as stealing from my future self, but inflation is already stealing my money -- so why shouldn't I spend it now? Ugh... I don't even know what I'm talking about. I'm so tired of working and trying to figure out my life, yet some government officials and nepo babies born with silver spoons aren't affected by inflation at all.
Everyone says it, delayed gratification is pointless when things are this bad. It feels like there's nothing left to gratify lol One of my friends is funny about it, he's saving up for euthanasia. Since saving for retirement is pointless. I'm lucky to earn above minimum wage, but fuck, no matter how much I save I don't think I'll ever be able to buy a house. Even if I invest, prices keep going up. I can't even imagine how people earning minimum wage or below get by.
Same thinking. That's why I don't even know how many times I've gone to hotel buffets this year. Prices keep rising while my salary stays the same, so my savings have fallen way behind.
I don't know whether I should sympathize or be the buzzkill, but the latter sounds more fun, so... >*But inflation is already stealing my money -- why shouldn't I spend it now?* Say you work for 30 years. Average inflation over the past 30 years was 4%. That turns 10,000 pesos into 9,600 pesos. If you spend it all, **a 4% loss becomes a 100% loss.** And right now is just a high-inflation cycle, like in the 1990s. >*Home prices are more impossible than ever* It's only impossible when everyone wants a piece of that same city (especially Metro Manila) and your budget falls far short of theirs. It's not just you who wants it, your neighbor does too, so does the neighborhood watch guy, and worse, so do the people who want to expand it even to the sidewalk as "free real estate." The irony of "that's all I've ever wanted" is that other people think exactly the same. You're feeding the very problem you're suffering from.
Like you already said, you have to invest to beat inflation. If what you're saying is right, spending is the exact opposite of what you should be doing, but I get what you mean.
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