Okay, after that brief rant, let me do something that I haven’t really done – do some commentary over a few things (just like what I really intended to do with this blog). A few things to be covered in this post – dollar woes and putting up businesses. Very, uhm, bourgeois. Hehe. Reality is, most of out concerns today are rooted in the concepts of buying power. Or lack thereof.
This has also been a personal rant of mine but the staggering decline of the dollar to the peso is quite alarming. That simply means less buying power for all of those relying on dollar earnings. That is something that isn’t really quite welcome especially during the holiday season.
While one beef I have for working freelance is that I don’t get to have 13th month pay or any other benefits, I’m quite content earning something on the side especially since I still have a few obligations to meet. And a measly salary from a 9-5 wouldn’t be able to trim that. At least for my case, I am managing.
I’m wondering how many overseas Filipinos will be managing this year. It’s just a thought though. I know that in terms of income, they are earning at least minimum wage elsewhere. Say the minimum wage in the US, is $5.85. That means given a 9-5 shift, that earns one $1029.60 a month (still considerably larger than what I earn in blogging). But I can’t really compare myself to those guys since 1) I still live here where the cost of living is still less and 2) I don’t have a family to send money to.
Menial jobs in the US get OFWs something to the tune of $2000 a month and say that they can afford to send half of that home. That equates to according to the current exchange rate, Php 41,000. Relatively quite a large sum but compare that to what the exchange rate gets you at the start of the year – effectively Php 15,000 more. Php 15,000 is a white collar rank and file person earns in a month gross! A great loss especially if you are sending kids to school. That could’ve easily been Junior’s tuition.
So the economy’s doing great. Why can’t I be a bit happy? If you’re a tightwad like me then you must be paying attention to the prices of goods. Prices are steeper than they were 11 months ago. The price of a liter gasoline? Up by 25%.
I’m no economist but the reality is that, we have workers and their families (particularly dollar earners and OFWs) have much less buying power with commodity prices still inching their way up. And that, I believe, isn’t something to be happy about.
Some of my friends are trying their luck out in putting up their own business. Maybe with a bit of luck, being an entrepreneur can earn them a ticket to the fast lane of being a millionaire before 30. And quite honestly, I am envious of them. Parents lending them some capital to start their own businesses. Being their own bosses. And striking it big.
Unlike these friends of mine, I am an orphan with no inheritance or trust fund. All my parents left me are my college degree (three years of which I paid for, myself) and debts.
I would love to put up my own business. I do dream of putting up my own auto repair shop sometime in the future. But for now, that’s just a dream. Until, of course, I win the lottery and suddenly get a capital all of a sudden.