If you’ve ever walked into a mall on payday and felt the urge to buy something—anything—you’re not alone. Joffre Enrico Dominguez, a Registered Financial Planner, has seen this play out countless times.
“Malls know exactly when we get paid. That’s why sales are timed around the 15th and 30th,” Dominguez told Financial Adviser PH. “They use bold colors—red, blue—because they trigger urgency. We treat sales as an emergency.”
And that mindset? It’s keeping many Filipinos financially stuck.
The mindset traps that sabotage your wallet
Dominguez says the problem isn’t just how people spend. It’s how they think about money. He identifies two dangerous patterns that show up repeatedly:
The “I deserve this” mindset
After a long week of work, many Filipinos feel they’ve earned a reward. But that reward often comes at the expense of financial goals.
“You worked hard, so you spend hard. That cycle repeats—and savings never get a chance.”
The “Now na!” mentality
Urgency-driven spending is encouraged by retailers, ads, and peer pressure. “We don’t think long-term,” he explained. “We think now na. And that’s where the damage starts.”
Ayuda thinking: The mindset that delays growth
In his interview with Financial Adviser PH, Dominguez also pointed to another deeply rooted behavior: the ayuda mindset—relying on handouts rather than building self-sufficiency.
“It’s not about blaming people. During hard times, especially the pandemic, it made sense. But if we continue to rely on external help, we’re not in control,” he said. “And when we’re not in control, we can’t plan, can’t grow, and can’t protect our future.”
His goal? To help Filipinos shift from consumption to intention, from short-term gratification to long-term planning.
Changing habits starts with awareness
Dominguez isn’t interested in shaming people for their spending. Instead, he focuses on behavioral finance—understanding why people spend the way they do and helping them build new habits.
“Immediate gratification is a dream killer,” he said. “If you spend your money now, your dreams suffer later.”
He shares this in workshops across the country—breaking down why people end up broke by mid-month (petsa de peligro), and how a shift in mindset can reverse that cycle.
Three simple shifts that can change your money story
Dominguez shared with Financial Adviser PH the top changes he recommends for anyone looking to build better money habits:
Pause before purchase
“Ask yourself: Do I need this now, or am I reacting to a sale sign?”
Reward with intention
“It’s okay to treat yourself—but not at the cost of your savings goals. Earn the reward, don’t justify it.”
Plan your payday
“The moment you get paid, divide your money. Save first, then spend what’s left—not the other way around.”
“You don’t need more income. You need better habits.”
Dominguez believes the biggest financial breakthroughs don’t come from earning more—they come from thinking differently about money.
“The truth is, many people earning ₱50,000 a month feel just as broke as those earning ₱15,000,” he said. “Why? Because their lifestyle rises with their income. The habit never changes.”
If you want to stop living paycheck to paycheck, start by fixing what’s in your head—not just what’s in your wallet
