Why Gen Z Spends: "I Splurge On Shopping Because I Deserve It" | Money Mind | Philippines

[@shier_it4956]

it's okay to reward yourself. But it's important to make sure that you spend only within your capability.

[@TrinhNguyen-sh4fj]

Exactly! It is ok to treat yourself but never overspend.

[@leslayyy634]

In Psychology, there is this theory called Hedonic Treadmill or Hedonic Adaptation which explains how people return to a stable level of happiness after momentous positive experience. We are on top of the world when we receive our parcel, when we book our flight, when we eat out in a fancy restaurant. Pleasures are short term happiness and it gets “addicting” After we achieve those little pleasures, we go back to a state level of emotion. So, we want to feel the same pleasure, excitement, happiness again. We live for the dopamine rush. Until it becomes a habit, a routine, a loop. Been there, done that. That’s why I quit social media because it feeds me unrealistic needs and wants. And the FOMO that she said. It’s real. It happens when we spend most of our times looking at other people’s lifestyle.

[@hugyouagain]

and the more frequent the thing makes you feel happy, the less satisfied you will be, so you need to find more of them

[@_nihongo_jouzu_]

Should be fine when you're young, most people outgrow this behavior and start saving in their 30s

[@NB-hd2pc]

Like me. I used to spend a lot in my 20s. When i became a mom, i stopped buying things and started saving.

[@jnt3105]

True

[@ningsinur9200]

Very true

[@Kpophdvidfan]

That’s changing haha😂😅…

[@seansomoray2879]

True, but the opportunity cost to save and invest while in your 20s will never return. The opportunity to gain investment income while young will compound if it was taken advantage early on.

[@laguvids]

this is not only in the Philippines, it's everwhere nowadays

[@AN-bd4xm]

Most Filipino love brand stuffs.

[@iananthony1670]

this is a normal stage in life, eventually she will outgrow this and she should outgrow it at some point in her life, because money not spent is not your money, when you are young the margin for mistakes & risks are tolerable, but this no longer applies when you are in your 30s onwards, let her experience it as experience is the best teacher

[@May-e6s5q]

I was trying to impress 4 most of my 7 yrs of work in d city. I stopped working 15 yrs ago. Funny d more I tried to impress d more I get into tight jams. Universe telling me I'm not allowed 2 malverse one cent. I'm public ad grad n dats a NoNo. Talk about self fulfilling prophecy dats not even mine to start but mine to keep.

[@kzm-cb5mr]

"Ubos biyaya, kinabukasan nakatunganga" as they say.

[@francisyee2682]

As Gen Z here, I myself, to be honest, I don't want to become like looking for trending things too much, when it comes the salary that I earned, working 2 to 3 jobs, online and onsite to sustain my lifestyle of course. I control when it comes the savings. Luckily my home was not rent (it was purchased from my parents before passed away, then they have a will as gift for us with siblings), so I focused was savings, and bills only. I'm more focused myself paying my bills (if I have debt), and I invest everything to growth with in terms of finances or savings

[@glaizagubatina8107]

I have learned to become a minimalist

[@Lockeygal]

I respect this girl's choice, I just want to tell you that in my youth, when I was in my early 20s, I didn't have any habits like hers. I did small business, worked part-time and invested (at that time, no one invested to the point where the investment officer was surprised to see a student like me). In the end, the money I collected disappeared overnight because my family was in need 😂 but at least I had this habit. At the age of 25, I already had a new house in a big city and at the age of 26 I already had a good car even though it was second-hand. I am grateful for what I’ve gotten so far.

[@lili.kasym.]

👏 I wish I were like you instead of being shopaholic. Just now after more than 10 years I am overcoming of spending money on useless stuff.

[@ajtlim]

Elle treats all her money like its her highschool allowance

[@romeobayotlang5924]

and she has the audacity to ask money from her parents

[@trainwreck9567]

She is a child in adult clothing.

[@catoftruth1044]

the ones im truly wanting to "dasurv" is a place with no GARBAGE littered everywhere, no smelly streets, no loud obnoxious karaoke and pavements with no potholes. unfortunately thats more expensive than coffee and clothes if only people valued their surroundings more than their selves. thats why i dont spend too much of my money, maybe i could save enough to move into a decent subdivision with a bigger space. it doesnt matter if i dont get to drink coffee or wear outdated clothes, still my moneys not enough. vacation yes, in a place thats clean, yet its so expensive. Our government should do more in cleaning and keeping the place good and safe.

[@titik-o]

I remember the time when this type of behaviour are flagged as being a social climber in the Philippines... I guess now it's more tolerated and just being called small rewards.. I think the best way to go at it is to only buy what you can and what you need.. don't listen too much on the marketing of non essentials products... Stop looking at social media.. they're all trying to sell you something

[@MelanieKai40]

MY MOM is a minimalist. So i am. She let me read the book of marieKONDO. Im 14yrs old, and If i SPEND MY SALARY SOON or extra money is WITH ONLY to MY NEEDS. Not my to my "more wants" if i can't use that thing that means its not that important to have it. I like the concepts of being a minimalist. (Im just using my mom YT account)

[@kevinmolato692]

It's the culture that keeps people in the lower middle class. If you know how to harness this culture, it becomes a powerful marketing tool.

[@leah902]

It's age. Time will sort her out eventually. Most young people who just came into money tend to go overboard, and after you experience one or two life changing situations, they learn. Also, i think the world is going crazy, no matter how hard young people work these days, they never seem to make or save enough so i totally understand the need to give yourself some "comfort". Coming from poverty also does not help, after a life of hardships, people tend to want to make up for the things they never had while growing up. She'll learn with time

[@shawnaellcey6970]

Shopping is okay, if she knows why, truly knows why emotionally. It’s likely just her age, a phase, but I have seen people shop because their job is actually way too stressful! Yes, believe it or not, it’s because they are in a high level of stress all week so they get home and shop on their phones at 2:00am. So this is when the job is bad, so all the paycheck goes to managing the stress. It’s better to get a lower paying job, less demanding and then save more.

[@djgh9jc]

live and spend within your means. but you all heard her, this lifestyle is making her happy right now so truly dasurv niya yan. her money her choice :)

[@hugyouagain]

but really, overconsumerism is destroying the earth. Last april there was another deforestation scandal where textiles industries are grabbing more land to plant more cotton, it all connects to big fast fashion companies. There is alternatives, such as spending time with people or just watching movies at home

[@leonarobles1930]

Sana maging priority rin nila yung emergency fund or invest in something na pangmatagalan like house on their own

[@meloon5876]

Just 1 generation ago, many filipno woman had to leave home & work years and years in a foreign land. Sending home most of her salary to keep the whole clan going. I hope these proud " big spenders" remember that and start saving.

[@yuut01234]

Sorry, 1 Generation ago are the millenials. 2 generations ago are generation Xs. I'm a millenial and it was pretty much the same for us in our teenage and early20s

[@kzm-cb5mr]

@@yuut01234 he/she didn't mention anything about millennials

[@nosilazerep]

It is OK to reward yourself but don't forget to save. We should learned the lessons from the pandemic that savings and emergency fund will save you from a sudden job loss.

[@Strawberrycake951]

While my instinct is to be quick to judge, I also know that most of us young millennials and gen Z's on the median income for our age group aren't able to attain expected financial milestones like home ownership by saving and investing. While she SHOULD have emergency savings, anything beyond that won't amount to meaningful financial milestones like owning a home in Singapore where she wants to live. But she can hit smaller ones like getting the rhinoplasty she wants. It's the same phenomenon as China's 月光族.

[@leothebear4842]

I think it’s okay to spend more in your 20s but not to the point when you’re in debt. As long as one is also career focused. Some might earn 2x or 3x even when they reach that point in the careers in their 40s.

[@limtc1733]

Isn't seeing money grow in investments more satisfying? 😅

[@Magda-nh8ml]

It was mentioned in the video, 70% of her salary goes to rent and utilities and 30% goes to shopping. No savings, no emergency fund. But she has parents to support her if in need. She is lucky in life. She looks happy. I wonder how she will deal with job loss and surprise medical issues. Not sure if she represents majority of gen z population or she is unique by herself.

[@gitadaily88]

Being happy is important.

[@notpillow6759]

She's not genuinely happy she's trapped in an addiction to shopping. Saying she's happy because she spends that much of her monthly salary shopping is as ridiculous as saying a smoker is thrilled to waste 50 percent of his salary on cigarettes each month. It’s not happiness it’s dependency wrapped in denial.

[@3dbogoshipda414]

it is just a phase.. enjoy it while it lasts 😂

[@MKiurinuRigold]

You usually don’t switch off spending habits so easily and you can easily slip back to spending after saving due to stress as well as anxiety So you need to consistently keep track Worst if you save to buy a big item - I know my friend who see Dior bags and limited edition watch from seiko Why look when you aren’t buying She tells me she does not want to waste so much money however … I guess she might 😅still buy

[@russel242]

it's a common behavior when you grow up poor and you start earning money. It's OK since it your money but not a good habit. it should be the time to build wealth.

[@nielgoh]

Working class but still has the audacity to ask money from parents for shopping... Partial parenting failure as well for not teaching her to save for emergencies. CNA should do a follow up video of her after she goes through one life unbudgeted emergency. I'd like to watch that

[@keemarotichai]

ive been saving since i was a kid, am not rich now but i dont have to worry about being short of money if i dont work for a few months. by the time u hit 30 u start experiencing illnesses cos ur body is starting to break down and starting to save in ur 30s is too late, plus not many have insurance or big salaries..............prepare for the day when ur old and dont have a job

[@christine_notchristina]

im going to sound apathetic or even arrogant when I say this, but examples like this sort of brings relief that there's actually people who are doing worse than me when it comes to their financial health lol. I get anxious seeing my money in my bank account go down, i feel like i need to work more and harder. Also reminds me that I dont want to ever be in their position where they have little to no savings because of "kakadasurv" niyo. (not that I dont engage in splurging like getting expensive shoes in full retail price (not the usual discounted online price), buying appliances, jewelries, clothes, having takeouts and deliveries and subscriptions/memberships).

[@janlouisemakiling3474]

You can set aside 20-30% of your salary.. But make sure you have emergency fund and you pay your bills on time. Also, wag umutang.. Sis ung LV bag.. wag kna bumili ng class A / greenhills

[@cramnh0j]

She'll regret it when she's older.

[@RichardOcampo-fz2cf]

JESUS! The materialism with this generation is in full blown catastrophe🤦‍♂️

[@kevinmolato692]

They are the ones who keep my investments growing by supplying the revenue.

[@romeobayotlang5924]

because of media and what she see everyday even she needs to have a nosejob so technically she wants to be accepted

[@HansDX92]

When she said her dream is a nose job, I just SMH 🤦 and stopped this video

[@XtianJade]

Often times, it's the Gen Z from lower to middle income class families who spend a lot. And they spend their money on things that don't appreciate in value. This amount of spending plus the lack of investment mean that most Gen Z lives from paycheck to paycheck.

[@dwichiesa]

Good for the country economic growth, bad for individuals

[@smharman72]

Rule number 1 : 50% goes to needs, 30% goes to wants, and 20% goes to savings. But as i get older, i realise there are less things that i WANT. So it shifts to 50% goes to savings, 40% goes to needs & 10% goes to wants. Bashing through life without any savings is plain careless.

[@lili.kasym.]

I know this , i was there when i was younger. Mostly behind shopholism is some pain ( even depression when you try to escape from reality and lying to yourself that you deserve all these stuff and gonna use all of them, but most of them will end up just hanging on the wardrobe) or it's just you don't know how to manage your finances. Because nobody needs a lot of clothes, shoes, cosmetics etc. If it will last long you gonna regret when you're in 30's, because you could have saved/spent that money on something more important, for example: buying property ( even a small one), starting your business, investing or just traveling. Since you started working and earning money you need to set goals from your dreams and work toward them by saving money. As earlier you start, more successful you will be comparing to people of your age. Of course it will not make you absolutely happy, that's why you need to learn to keep balance.

[@A.CMc1997]

As a fellow Gen Z, she should probably readjust her spending habits since the price of basic necessities are on the rise in the Philippines. Still, if she could afford to live that way, maybe her parents would be able to assist her if she ever defaults on her payments? I don't have that luxury since I have to support my family and could not really relate to that mindset. 😅

[@BrentStrathdeePehi]

Every Filipino ive ever met or worked with send whatever money they can to help family - these hedonistic shopaholics are so different than that

[@daweigo6851]

Her money, her choice

[@kzm-cb5mr]

​@@daweigo6851 Doesn't mean people can't point it out though

[@shoshanas5251]

I also went thru that stage of marking off my shopping list every pay day. Actually yung pain ko pa is when I save up may biglang uutang. Ending I just spend it so when I am saying no to utang talagang no hindi ako nagsisinungaling. Saklap nun when you really have money set aside tapos may uutang na di makakabayad. I have experienced lending from 2K to 30K and the recent was 80K lahat yun hindi nakabalik. My advice is to balance spending & investing. Then if you save ilagay mo sa bangko (or auto invest in an asset) that way hindi mo basta magalaw. Pag nasa wallet mo baka iba pa makinabang. Also remind people that you are not a bank, magbenta sila ng gamit. Matuto na kayo sa mistake ko. 😢

[@b.delacruz5345]

A lot of comments are saying that it's ok since she's still young... But habits start when you're young. Her spending habits are going to carry over to when she's older. She's already planning on spending on things even if she doesn't have the money yet. If she keeps on thinking it's ok I am still young she's in for a surprise. Time flies fast and youth is fleeting. Before she knows it she's middle aged and she'll be in debt or at best only breaking even with her salary and expenses.

[@hugyouagain]

the video mentioned about mental health problems and i think that it's not just about fomo, but also when financial problems come and her who depends on buying things to keep her happy will suffer

[@timetraveler7990]

Nah. I think that's the wrong "Mentality". I think that is the reason why people remain poor. I learned that from a very very successful Chinese businessman

[@playamelodythateverybodyknows]

enjoy it but dont forget to save...im glad my co-workers who're older than me bugged me into opening a savings account with auto-deduction the minute i got my first pay😂

[@di_xox4747]

You deserve something you need, not something you just want and bought it impulsively because of "SALE" It's fine to reward yourselve but not always, not weekly basis.

[@Thethewho]

Spending is a drug that keeps the mind sane, it's better than having to spend it on therapy due to pent up urges

[@zandrewmorano10]

I'm 19 but I am already started saving up due to poverty 😢 I'm just exaggerating about poverty, but we have come to a point where we started to struggle for food

[@justanotherpotato5523]

Aww hope things get better for you

[@fireat40]

Eliza is social media specialist? Whats her qualification to be a specialist?

[@mosaicpaint3223]

i like that her title is social media specialist as a role than the regular tropes; as a luxury consultant in that world - this is what you call Hedonism. its not new but its definitely a pillar in fashion or luxury. Also, the #treatculture is sparking on this especially with Gen Z, you know the #erewhon

[@Jane306]

The fact that her most expensive purchase cost 545 bucks for iphone it means she shudnt spend that much... Why, people, whyyyyy

[@bars84]

I know one person, who got his 1st big share in there business, he spent more than 500k+ in just 1 month. So we had to tell his parents about his spending. The rest is history (he blocked us and never heard from him again)

[@DigitalDistortion]

It’s her money. She can do what she wants to do with it.

[@rachelgedang4078]

The Mentality of the New Generation It’s important to think beyond yourself. Excessive consumption contributes to one of the significant environmental issues we face today: waste. Fast fashion, in particular, plays a major role in this cycle of waste.

[@PioloQuiboloy]

Maluho pala si kiray

[@MinhNguyen-es5oz]

They’re trying to fill the empty hole in their life, because it have no meaning. Without hardship and sacrifices nothing have meaning

[@maram.3356]

Agree, she will outgrow this IF SHE gets matured enough to control her impulses.

[@meyrositad]

I Work and saving hard when at 20’s. Now i can spent money to buy things without Work . I’m living by my deposit 💵 And house paid off. I’m 38 now

[@joesr31]

I mean, doesn't seem that bad. Seems like she usually shop cheap in shoppee, rarely buy expensive luxury stuff, her biggest purchase is just an iphone (a cheaper model at that). Every generation does this, not just genz

[@athinalazarou8873]

5 months or working only that says everything. its kinda normal for everyone to go through that first year of splurging . i did that for 1-2 years of working. calmed down the 3rd year cause i have pretty much everything i could want or need for a while.

[@nolsp7240]

Google the japanese concept of shibumi. Or just remember what you were taught in grade school - reduce, reuse, recycle.😊

[@phili34]

It's fine. It's her money anyway. We have been there done that. It's just a growing up process.

[@jechuwen]

I experience this kind of phase but now im all in savings and thinking of getting insured.

[@starward0997]

Shoppe is scary, i spend around 2000 usd in like 3 months on it alone 😭😭😭

[@marymaria2228]

Wow, i am Indonesian..i don't know why but definitely i can't do something like that..just let you know i work really hard since 20 years ago..before marriage at 33 years old i bought a small house for $40.000, and right now me with my husband bought a second small house for $70.000😅, its considered to be quite expensive because i live in large town jakarta. My plan in 2 or 3 years from now i will sell both of my small house in order to obtain a bigger house😊. Well for me my reward is a nice and big enough house for 4/5 person. And i will make sure i will have it

[@stardusbaby5013]

rewarding or gifting yourself is fine. you deserve that. we all do. just dont overdo any sht and call it “self love” to cover your bad money management or compulsive shopping 😬

[@KuyaG-x4p]

Normal for that age, until, by the 30’s they realize that with whatever money spent before, money that could have been used to double their money.

[@warrpedd]

Crazy that some Filipinos earn $300USD/MO and spend $1000 on an iPhone.

[@nurulrani4755]

pamper yourself once it a while is ok and need to know your budget even do you really want that items....but need to think many times if it is use everyday or not...and then saving money in 20s it a must even just for SG$50 per month incase of emergency only

[@MocettiMariano-s1i]

Good luck to your future,

[@anneasuncion35]

If it's not debt for consumption like this, I think it's fine. But if you use debt to purchase things you didn't need, please think again

[@BbDebby]

Sa una lang yan. Ganyan din ako dati and now sawa nako

[@barbara9315]

We have Bioten in Greece,but not in UK.

[@devitrivolkswaggen]

I am unhinged why is this me 😭😭😭😭 I started saving now though I am into ipon challenge na mga mhie

[@MotherAotearoa]

Wow!! I deserve the Earth, Skies and the Entire Universe ⭐ BUT.... I WON'T SPEND the money that I don't have.... Plain Maths Simplistic v. 2.43

[@nl201]

I mean "death" is also uncertain... it's good to save but don't deprive yourself

[@thomaschristopherwhite9043]

Looking like Manny Pacquiao doesn't mean you should spend like him too.

[@alfredhitchcock45]

Masarap maging bata puro ka lang gastos

[@suryatobing]

I think this kind of habits not only on Gen Z, but other generations also same

[@ayo3850]

and i thought spending like $150 per month for shopping is alot 😅 i guess im budgeting myself way too much but gotta save for them future travels

[@BettesDorsch]

5k skincare expense pero wala namang result? c'mon! Few suggestions since you're already splurging, invest in high-end skin clinic consultation and in rhinoplasty.

[@citizen565]

Don't be racist

[@personalseitil2244]

Racist? Where? The commenter is telling the truth. He/she doesn't even target her being a filipino 😂​@@citizen565

[@MarkEdisonAlviz-official]

I think, that’s ok, as long as you don’t put all these into waste.

[@AKAAAK]

This poor woman needs financial education. She can buy things to keep herself happy, but she's spending to put things in the closet and hasn't/never will wear. Better start saving and enjoy later, than enjoy now and work til your senior years, especially in the Philippines where retirement savings are far and few in between.

[@imlivinginneverland9421]

Deserve naman kasi talaga, mas okay na yan kesa bumili ng gatas tas diaper diba

[@jasminetay9820]

Wtf .. fancy coffee after a commute? Girl I only buy myself fancy coffee when I got a promotion.

[@TheWellnessCuess]

Interesting

[@wilson71277]

They are just finding excuse to justify their senseless spending. You spent every cent you have every month how can you have any plan to buy anything in the future?

[@merc7paul]

Seems she's only spending the money she has unlike North Americans😂😂

[@pragueexpat5106]

I "feel" like I "deserve" a mansion near lake Como in Italy..

[@STUNN312]

How sad it is to see and hear the mentality of one's Self worth is being masked by material things

[@NJVArtimations]

this is normal for people when they get their first salaries and able to buy themselves their own things... but this girl is just over consuming items she doesn't even use

[@colinchin2726]

I OWE I OWE… it’s off to work I go 🤦‍♂️

[@minhoonoon9443]

Being happy for now is important.

[@arnoldnaval8842]

thats her earnings n money… if she wants to splurge… its her life not yours..

[@arianugroho]

just do what shaq's said about spending vs saving

[@schadenfreude2555]

Give a child a credit card....

[@lillyofthevalley7937]

Shopaholic is like an addiction. Like gambling or nicotine addiction. Nasa hule ang pagsisisi!!!

[@toby2757]

dinaig pa ang milyonaryo 😅 goodluck

[@MuhammadKhan-k5c3s]

Regrets

[@shannensaito9746]

Pano n lng mga breadwinner, wala din ipon,lahat pamily napupunta s pamily, wala pang reward s sarili.

[@oshl4387]

D A S U R V 💀