Wealth

6 Men Tell Us How Much Money They Need to Be Happy

How much is enough?
ILLUSTRATOR Carlo Maala
Comments

The Philippine Statistics Authority’s latest findings place our poverty threshold at P9,064—the minimum monthly income to meet the basic needs of a family of five. The same measured that the overall average income of Filipino families is about P22,000 a month; and in previous years, drew the line between middle-income and high-income households at 2.4 million a year, or just about P200,000 a month. But of course, for real highrollers, wealth only truly begins when you hit seven figures. We asked men who earn different incomes to talk to us about the meaning of their means.


ADVERTISEMENT - CONTINUE READING BELOW

How much money do you think you’d need to have the life you want? “Siguro pwede na sa akin ‘yung P50,000 a month. Kasi bukod sa masusuportahan mo ‘yung pamilya mo, may maitatabi ka pa para sa sarili mo.”

How much debt are you carrying now? “Ngayon, wala. Nabayaran na—tapos na. Clear kami ngayon.”

Do you have a credit card? “Bank account, mayroon. Credit card, wala.”

At what age would you like to retire? “Trabaho lang, hangga’t kaya.”

How much money will you be making in ten years? “Hindi ko alam. Depende. Baka kinse? Matagal pa eh, mahirap mag-expect.”

How happy are you on any given day, from the scale of one to ten? “Siguro nasa seven. Nakaka- enjoy din naman ‘yung trabaho, pag mayroon akong pupuntahan, naka-bike ako. Tapos pagka naman wala masyadong gagawin, nakakapagpahinga—nakakalaboy- laboy. Pero nandoon pa rin naman ‘yung stress, pagka ‘yung marami kang ginagawa. Pero ‘yung seven, okay na ‘yun.”

ADVERTISEMENT - CONTINUE READING BELOW

How often do you worry about money? “Pagka may project sa school ‘yung bunso namin. D’un ako nagwo-worry, pagka may kailangan bilhin, tapos wala na akong budget. Saka ‘yung sakit ng mga matatanda sa bahay, kasi nagme-maintenance [medication] na rin. Siguro halos buwan-buwan ‘yung worry na ‘yun. Mga thrice a month siguro.”

Do you think your taxes are too high? “Oo, pero okay lang sana kung nagagamit ng tao.”

What was the last gift you gave, to whom, and for what occasion? “Sa papa ko—t-shirt na binigay ko nitong November.”

What was the last meal you ate, and how much did it cost? “Tapsilog. P50.”

How much did you spend for the clothes you’re wearing right now? “T-shirt, P200 sa ukay-ukay; shorts P200 sa tiangge. ‘Yung Havaianas ko P1,200, tapos ‘yung sumbrero ko P1,100.”


ADVERTISEMENT - CONTINUE READING BELOW

How much money do you think you’d need to have the life you want? “A million for me is enough. I’m not aiming to have a really luxurious life, I just want enough money to travel anywhere in the Philippines or anywhere in the world with my future wife.”

What was the last thing you bought that required serious planning? “I bought a Samsung J7 Prime and Nintendo 2DS with some games. It took me almost half a month to plan for it.”

How much debt are you carrying now? “I don’t have any debt. I’m smart with my money, I don’t spend on unimportant things.”

At what age would you like to retire? “I want to retire at 40 or 45. That’s why I’m grinding now, and hoping to put up a business in the near future.”

How much money will you be making in ten years? “If I’m going to be stuck in my current company then I’ll probably be making my first million in 10 years. But I’m truly hoping to do it in five years.”

ADVERTISEMENT - CONTINUE READING BELOW

How happy are you on any given day, from the scale of one to ten? “I’d say seven. In terms of love life, I’m still with my high school sweetheart, and we’re celebrating our 10th anniversary this year. In terms of family, I’m happy that my siblings are achieving in school. In terms of my career, I’m happy that I got promoted three times early on.”

How often do you worry about money? “I don’t worry a lot anymore. My biggest worry about money would be a medical emergency.”

Do you think your taxes are too high? “Yes, in my point of view, taxes are really too high. If they can be trimmed down a bit, that would be a huge help to everyone.”

What was the last gift you gave? “A huge stuffed toy for my niece last Christmas. She’s like a daughter to me.”

ADVERTISEMENT - CONTINUE READING BELOW

What was the last meal you ate, and how much did it cost? “Snickers and pineapple juice, this morning, for P62. I have a habit of eating chocolate every morning once or twice a week for better brain activity.”

How much did you spend for the clothes you’re wearing right now? “Polo shirt: P500; pants: P700 on sale; shoes: P2,700 on sale. I buy clothes every two months, or whenever there’s a sale. But it’s a case-to-case basis, depending on whether or not the sale items are any good.”


ADVERTISEMENT - CONTINUE READING BELOW

How much money do you think you’d need to have the life you want? “Ten million would be decent. That should be realistic enough for me to be able to earn not too far into the future. It should be enough for a decent house and car, plus a little bit to spare on investments and maybe fun stuff, like traveling abroad.”

What was the last thing you bought that required serious planning? “My current car—a 2011 Ford Fiesta. I had to take out a loan to buy this car and I’m slated to pay for it until 2020.”

Do you have a credit card? “None. I prefer to use cash so I can keep my spending in check.”

How much debt are you carrying now? “Around P300,000—the remaining payments on my car.”

At what age would you like to retire? “60.”

How much money will you be making in ten years? “Definitely five times than what I am making now.”

ADVERTISEMENT - CONTINUE READING BELOW

How happy are you on any given day, from the scale of one to ten? “Eight. Just the fact that right now, I can spend on all life’s basic necessities and have enough savings in the bank, I could say that I’m happy enough. I don’t stress about money so much.”

How often do you worry about money? “Not too often—maybe only on times like when my car is at the service shop and the repair bill starts mounting (this happened last month).”

Do you think your taxes are too high? “No. Honestly, I think our taxes are just fair.”

What was the last gift you gave, to whom, and for what occasion? “A bunch of purchases from Marks & Spencer for my family last Christmas.”

What was the last meal you ate, and how much did it cost? “Some really delicious tacos and burritos—P800.”

How much did you spend for the clothes you’re wearing right now? “No more than P3,000.”

ADVERTISEMENT - CONTINUE READING BELOW


How much money do you think you’d need to have the life you want? “I guess a million a month—that would really change something.”

What was the last thing you bought that required serious planning? “My car. It took me around two years to actually generate enough and have the confidence to decide on something.”

ADVERTISEMENT - CONTINUE READING BELOW

Do you have a credit card? “I have two: One is for emergencies, and the other is for splurging.”

How much debt are you carrying now? “Just the credit cards. You’re looking at P30,000 to P40,000.”

At what age would you like to retire? “That’s an easy one. Before 50. That’s the ultimate goal.”

How much money will you be making in ten years? “I’d say around two million a month. I’m aiming for the top of the ladder.”

How happy are you on any given day, from the scale of one to ten? “I guess around nine to eight. This job involves a lot of emotion—hindi ka kasi makakabenta if you’re down, or if you’re thinking about a problem. You really have to be upbeat.”

How often do you worry about money? “I do worry when the bills come in. Also it depends on the release of the commissions—d’un lang talaga nagkaka-stress. But it’s never too big an issue, kasi ang mentality ko din, madali naman kumita ng money eh.”

ADVERTISEMENT - CONTINUE READING BELOW

Do you think your taxes are too high? “Yes. Especially now na hindi mo nakikita kung saan napupunta. It’s sad, but that’s just how life is.”

What was the last gift you gave, to whom, and for what occasion? “For my girlfriend—I bought her shoes for Christmas. But I actually didn’t get to prepare for that. It was my back-up gift. I was depending on the commission that was going to come in, but I didn’t get the figures that I wanted, so I had to think of a back-up.”

What was the last meal you ate, and how much did it cost? “We ate at Manam. They have the best Filipino fusion there. I spent about P300 to P400. We had spicy pusit, sinigang na pork short ribs, Peking fried chicken, and bagoong rice.”

How much did you spend for the clothes you’re wearing right now? “I’m wearing a suit by a tailor in Kamuning—it’s around P6,000. Then I bought a shirt and tie from Market! Market! And I can’t forget the shoes—these are around P5,000. All in all, that’s, more or less P12,000 to P13,000.”

ADVERTISEMENT - CONTINUE READING BELOW


How much money do you think you’d need to have the life you want? “About 150 million. My mom would always tell me to live within my means, and I’ve always been against that. I want to live the life I have imagined—like having that Jaguar XF, having a rest house in Tagaytay, having a rest house in Boracay, traveling first class. For me to have those, I have to have at least 150 million.”

ADVERTISEMENT - CONTINUE READING BELOW

What was the last thing you bought that required serious planning? “A residential lot in the Alabang area. It took about a month to decide on it.”

How many credit cards do you have? “Five. One is for my operating expenses—that’s my business card. Another card is personal, and then the other one is for my big purchases. The other two are for petty purchases.”

How much debt are you carrying now? “I have about seven million, for a property I bought.”

At what age would you like to retire? “I will retire young. I’m looking at 48 or 50. I want to enjoy life to the fullest. Yes, I could have so much money—for example, I could get that 150 million, but if I’m already 70 years old or 80 years old, how can I travel?”

How much money will you be making in ten years? “I think, 10 years from now, I’d have that 150 million. Maybe about three million a month.”

ADVERTISEMENT - CONTINUE READING BELOW

How happy are you on any given day, from the scale of one to ten? “I’ll go with 9.5. I love life, I think I’m so blessed, I have the best parents in the world, the best girlfriend, the best work. I feel so blessed—9.5 every day.”

Do you still worry about money? “No. Modesty aside, no. Because I have rental income, I have my investments. Right now, it’s not a problem.”

Do you think your taxes are too high? “Yes. I pay my taxes, but I don’t see it, I don’t feel it. I feel like only part of it is being put to good use. Majority of it is wasted on corruption and unimportant things.”

What was the last gift you gave, to whom, and for what occasion? “Rubber shoes for my girlfriend. No occasion.”

What was the last meal you ate, and how much did it cost? “Starbucks; it cost me about P300.”

ADVERTISEMENT - CONTINUE READING BELOW

How much did you spend for the clothes you’re wearing right now? “Shoes are about P15,000. Socks are P300, from SM. My suit is G2000, but I got them at 70 percent off, so it’s only about P3,000. The shirt is also G2000, which I got for 50 percent off, so it’s only P1,000. The tie was 50 percent off, so it was P500.”


ADVERTISEMENT - CONTINUE READING BELOW

How much money do you think you’d need to have the life you want? “The life I want never exceeds my means. Even when I didn’t have anything—my life then was already the life I had wanted. I was already living it.”

What was the last thing you bought that required serious planning? “There’s this property in Boracay that I just acquired. It took me about a year to plan for that.”

How much debt are you carrying now? “I have a year to go on one of the houses that I built here—that’s almost half a million every month.”

At what age would you like to retire? “When I was younger, all I thought about was early retirement. But now, I don’t think I’d ever want to retire, because I enjoy what I do.”

How much money will you be making in ten years? “I don’t know. I really have no idea, and actually, I really don’t care.”

ADVERTISEMENT - CONTINUE READING BELOW

How happy are you on any given day, on the scale of one to ten? “I would say that I’m about a 10 every day. Of course there are days that I don’t feel well or I don’t sleep right, but more often than not, I’m happy.”

How often do you worry about money? “I don’t worry anymore. I’ve never owed anybody money in my life. Banks, sure, but a real personal debt, never. Magwo-worry ka lang naman, sa totoo lang, pag may utang ka eh.”

What was the last gift you gave? “I recently bought a car for my ex, the mother of my daughter. It was like a token of appreciation. A Honda City lang naman. I paid for it in cash.”

What was the last meal you ate, and how much did it cost? “Today is an exception, because I had a date: I had lamb. But that’s not a normal thing. On a regular day, I eat organic meals at home.”

ADVERTISEMENT - CONTINUE READING BELOW

How much did you spend for the clothes you’re wearing right now? “This [shirt] is just Marks & Spencer—P3,000, I think. My belt is Calvin Klein—P2000? My pants, pinatahi ko ‘to, so I forgot. The shoes are Florsheim; around P6,000?”

Comments
View More Articles About:
Recommended Videos
About The Author
Esquire Philippines
View Other Articles From Esquire PH
Comments
Latest Feed
 
Share
San Miguel Corporation president Ramon Ang remembers his roots and gives back to his hometown.
 
Share
Marty McFly, Cliff Booth, and 12 other ways to embrace the holiday.
 
Share
One of horology’s most romantic complications, moon phase watches are an opportunity for watchmakers to show off their technical finesse and know-how.
 
Share
The self-styled disruptor did just that, and after five years, is set to depart the brand.
 
Share
Load More Articles
Connect With Us