Filipinos are all excited every December to receive the 13th -month pay, this is the only time they have extra money to spend either for themselves or for the family. As the company owner, providing this financial benefit to your employees are mandatory.
But, how do Filipinos actually spend their 13th -month pay?
The first in our list would be buying smartphones. Employees at the age of 28 to 35 years old mostly prioritize to buy a new and updated phone during December. This is the only time they can take advantage of this financial benefit, without sacrificing their obligations to pay the bills at home.
Second, in our list, Filipinos tend to use the money to buy gifts for family, friends and special someone. Since their financial status before December arrives does not give them the privilege in shopping gifts early, they will use the 13th – month pay as their budget for buying gifts.
The most common we notice every December, tons of boxes are piled up at the garbage bin.
Filipinos love to purchase expensive appliances for the kitchen, living room or bedroom good for everyone at home
While 52% of Filipinos use the 13thmonth pay to settle their debts. This type of debt is usually off the papers, which means occurring debts from relatives or officemates. Although the 13th month pay is not enough to clear all the debts they have, it will possibly lessen their borrowed money.
Last but definitely, the main reason why Filipinos are waiting for this financial benefit is to have the privilege to travel the places they have never been to. This is the time where a group of friends will roam together, the perfect time for a couple to rekindle their love since all throughout the year are spent working to make ends meet.