Living the good life is expensive, but just how expensive? The National Economic Development Authority (NEDA) says a family of four needs a monthly income of PHP120,000 to attain a “simple and comfortable” life these days.
Yup, a whopping PHP120,000 a month!
The agency broke down the budget into seven parts with the following allocations:
– Day-to-day needs (PHP40,000)
– Having the capability to send children to college (PHP10,000)
– Owning a medium sized home (PHP30,0000)
– And a car (PHP5,000)
– Being able to take occasional trips around the country (PHP6,000)
– And taxes (PHP25,000).
The amount doesn’t even set aside money for savings, insurance and investments!
Expounding on the results of its Ambisyon Natin 2040 survey, NEDA director general Emmanuel Esguerra said that majority of Filipinos aspire to live simply and comfortably, while very small portion aspires for the life of the rich.
“The same survey however showed that more than a third of the respondents have no job security, while 12.3% have no job at all. Some 90% of the respondents plan to have a business in the future, but capital is seen as the most difficult barrier,” ABS-CBN News reports.
Economic issues that the government should address? Hunger, local employment and poverty.
“Ambisyon Natin 2040 is not a plan. It is a vision around which we hope our people can unite,” explained Esguerra.
It’s meant to guide the next four administrations in reducing poverty and inclusive growth.
Discussions with the Duterte administration about the agency’s vision have already started.
