I was about to contest this but I decided to do a quick search on it. I'll start a new thread. What I found was quite surprising to me: They don't link to any source, only name the, very lengthy, report by name. So I'm going to trust this information is accurate to the source material and just provide a link: https://psa.gov.ph/sites/default/files/FIES 2015 Final Report.pdf There is a tone of stuff in there about income and expenses. I may look through it more and pull some statistics that interest me tomorrow. But the initial income statistics certainly surprised me. (I thought the income, especially among the wealthy families, would be much higher. I'm curious if they were not declaring some "income".)
These numbers seem about right from other stats I've read before. Also have a lot of professional Filipino family who are very open about their salaries. Nurses make about 6k Pesos a month School teachers about 10-15k pesos Even a barangay official makes about 15k pesos Yet they all somehow make it work, with a smile
"In other words, if your annual income for a family of 5 is roughly PHP6-7 million, then you can say you are in the Top 99.95% of income earners in the Philippines." Maybe it is late at night and I am confused, but surely that earner would be in the top 0.05%. A public school teacher, I am reliably informed, starts on 21k pm (19k after deductions) ... it may be lower for some teachers in private schools.
Sounds about right. Looks like USD 32K / year would put you in the top 1% when this article was written. https://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp
Let's face it if you are on a fixed Income ( like so many here) you must make your life fit the Budget not try to live life a life that your Budget won't sustain for long. IMHO