- A survey by Lazada shows that most Filipinos consider payday as a time to settle bills
- Almost 9 out of 10 said their payments go mostly to pay for utility bills
- More than half of respondents said they treated their families out on their first paycheck
An online survey conducted by internet-based retailer Lazada reveals that majority of Filipinos consider payday as a time to fulfill their financial obligation; with around nine out of 10 using their salaries mostly on paying bills.
Highlights of the Lazada Market Intelligence conducted online with 345 respondents were earlier published by Rappler and shows Filipinos’ behavior and attitude regarding payday and their salaries.
Around 73.8 percent of respondents consider paydays as “a time to fulfill their obligations” as opposed to the 26.2 percent who says it is “a time to reward myself.”
These financial obligations are largely utility bills; where approximately 88.1 percent of respondents say they mostly spend their paychecks on. The remaining 12 percent of respondents say they usually spend most of their salary on insurance, gimmicks, and charity.
It does not come as a surprise then that a little over 40 percent consider long lines at the ATM as their biggest fear during paydays. Meanwhile, a total of 39 percent fear the traffic jams and the big crowds in the malls during paydays.
When it comes to the payment scheme, over 48 percent of respondents are satisfied with the commonly implemented bimonthly scheme wherein workers receive their salaries every 15th and 30th of the month. Almost 37 percent, however, said they prefer to receive weekly wages instead.
The Lazada survey also showed interesting facets of the Filipino culture based on respondents’ attitudes during payday.
For one, more than half or 55.2 percent said they treated their family for meals outside when they received their first paycheck. Around 37.5 percent meanwhile said that they would treat their family too whenever they receive their bonuses.
Overall, the survey reveals much not only about Filipinos’ financial behavior but also about values and culture in general.