[instiz] THE REASON WHY KOREANS ARE POOR

CEO Je Yoon-kyung Financial Education Expert:

– People have this misconception 

-Our country’s people are spending way more money than they think 

– That’s why they’re poor 

This is the truth 

We order takeout everyday

Eat out during the weekends

The moment a new phone’s model drops, we all change our phones 

We must travel overseas at least once a year

We all have purchased at least one luxury item 

We by branded clothes and shoes 

I know other countries might live this way too

But the reality is not a lot of countries are wealthy enough to lead this kind of lifestyle

1. Then why do I not spend on anything yet still have no money? I don’t order takeout, I don’t eat out, and I’ve been using the same phone for over 5 years. I don’t care about luxury or brand clothes. So why am I poor?

> It’s probably leaking out elsewhere, or maybe the income is low

>> After paying for transportation, basic food (ingredients), and expenses for special occasions, and then taking out savings and insurance premiums, there really is no money left… My income is similar to everyone else’s… It really depends on the person…

2. When I see people who say they have no money even though they don’t spend it, they are actually using that money for investment. Insurance, savings, and stocks. It’s just that all their spendings go towards those

3. For a country like ours, wages are too low… seriously low.

In other countries, all the money goes to rent, but in our country, it seems like it all goes to trendy products

4. Aside from our wages, all the prices are climbing 

5. Look at them blaming citizens for being poor again 

6. ?ㅋ The cost of goods is so f*cking high yet they’re coming up with such a lame excuse ㅎ go crack down on retail prices instead

7. It’s the cost of living… ㅠㅠ the food’s prices are still the same, but the amount of ingredient keeps on decreasing?! This is so sad

8. It depends on the people doing it; the high cost of living is the priority. Just look at how industries here and there have been caught price-fixing

9. You’re right, Koreans spend more money than you’d think… When I lived abroad, I was surprised that, on average, kids rarely bought clothes; some even made their own, cut their own hair, and when it came to cosmetics, kid would buy one kind and stick to it… They also tend to be quite environmentally conscious and have a huge tendency to save money

10. There are people around me who have two or three savings accounts but still claim to have no money….