How to Make the Most of PHP20,000, According to the ‘r/adultingph’ Subreddit

“As a responsible adult, how would you spend 20k?” Reddit user u/Commercial_Phase6868 asked in the rapidly growing subreddit r/adultingph on July 24, 2023, quickly raking in hundreds of comments from Redditors.

The original poster (OP) added rules, saying “You can buy anything you want or need.”

So how do you really spend PHP20,000 as a responsible adult? The Reddit comments provide insight into how Filipinos are learning about low-risk investments and other smart (and not so-smart) ways of handling your money.

The top comment of the thread, by Redditor “defjam33,” touched on not spending it unless needed.

“I wouldn’t spend it unless I really need to. I would check kung ano ung urgent needs ko now kung need ko ba Ng groceries etc. Kung Wala Naman tlga ako need bilhin baka I’d set aside 15k nlng just in case in the future may need akong bilhin then the 5k will be my reward for myself free to spend wherever. In my case baka bili ako Ng games or shoes 😅 kung Wala pang emergency fund baka dun ko nlng ilagay lahat,” the redditor said.

Others said it would be best to invest it if it were extra money.

Redditor “Spirited-Occasion468” said “Kung extra ko sya? Ilalagay ko sya sa MP2, WISP+ and coop.”

MP2 is a savings program of Pag-IBIG (Pagtutulungan sa Kinabukasan, Ikaw, Bangko, Industriya at Gobyerno). According to the government organization, MP2 is “a special voluntary savings facility with a 5-year maturity, designed for active Pag-IBIG Fund members who wish to save more and earn higher dividends, in addition to their Pag-IBIG Regular Savings.”

Worker’s Investment and Savings Program (WISP) Plus is a new Social Security System (SSS) retirement savings scheme for SSS members.

While “Cooperatives are also known as credit unions. These are financial institutions that are similar to banks, except they are owned by the customers themselves and exist for their benefit as well. They do not exist for profit, compared to banks,” according to digital bank Tonik Bank.

Going further into the thread, some got into debates.

Redditor “missanomic” gave a rather assertive comment to the post.

“Financial responsibility means that if you have a sudden windfall of cash like this, it will go towards the following only:
Pay off debts, if any.
Put it towards your emergency fund if not yet fully funded.
If the emergency fund is fully funded, invest it into your diverse investment portfolio,” the redditor said, to which redditor “Dovakhiin-” answered with “Being financially responsible doesn’t mean that you won’t spend any money on wants any more. Even while you’re building your emergency fund (EF), or paying off debts, you can allot a small part of your money for your wants.”

Redditor “Local-Zone9913” added to the comments who touched on investing the money.

“Invest it in blue chip company stocks, MP2, land property. Or have coop loan and start a low-risk business like bakery and coffee shop.”

Redditor “MissionHurry71” was lecturing everyone on having the right mindset.

“As a responsible adult, you wouldn’t be asking this question.
Instead, ‘As a responsible adult, how can I make this 20k bigger?'” the Redditor said.

Some provided cheeky comments in a thread beginning to look too serious.

“npad69” said, “the car definitely needs a change of oil and a checkup.”

The Reddit thread provides interesting takes on how Filipinos see money and what to do with it, while some are adamant to just invest everything, others said that it’s not too bad if one keeps a small percentage to himself for splurging or for buying wants.

The most notable observation in the thread is that Filipinos are now becoming more aware of how to save money and invest it, with many Redditors suggesting low-risk investment is the best bet for the money.

So how will you spend PHP20,000 as a responsible adult? (GFB)