Testing a 100 peso bill in different levels and status in Life?
By melmabb
@melmabb (579)
Philippines
July 22, 2010 5:14am CST
This was done in our country The Philippines, you can also try and experiment in your country,.We gave each person with different levels of life the same amount 100 Phil.peso which equivalent to almost $2 and 10 cent, or in your country kindly compute in your own.thanks! This is a fact, The first 100, we gave it to a Rich girl and accepted it off course without knowing that we are making an experiment,upon receipt , he just spend the money in a cup of coffee inside the mall,and Happily sip it only half way and left, next we gave the 100 peso bill to a middle class girl and she just easily spent it by buying 1 soap with a smile and left, and the last 100 peso bill, we gave it to the poor and she thank us very much and said praised god for the blessings,he went home hurriedly ride a jeep instead of walking, used 7 pesos of the amount for fare, and bought 2 kilos of rice worth 20 per kilo which totaled 40pesos and 2 sardines worth 20pesos and strings of vegetables worth 15pesos and he kept what was left...The food he bought may last for a couple of days for a Family of 4...Our assessment:Money has different values in all walks of Life...some just spend it for nothing,some may spend it for luxury, some really spend it for their needs, in order to survive in this world..yes the amount that we have in our pockets may be useful and maybe useless in other people...We learned indeed from that experiment and we became aware of our spending...Any comment from you guys!thanks!
1 person likes this
8 responses
@justinedjo (13)
• Philippines
22 Jul 10
What you wrote struck me. When my parents give me my allowance, I won't even bother to think of the things that we need at home. I just spend it regardless of whether or not I need the things I spend my money on. I think this is a reminder to those of us who aren't wise spenders.
@justinedjo (13)
• Philippines
23 Jul 10
Today, I saw a beggar near our school and I remembered this. I actually gave coins to that beggar because I thought he needed it more than I did. It was fulfilling.
@kquiming (2997)
• Philippines
26 Aug 10
I agree. But you can't blame people's financial mentality because it must have been shaped by how they were raised, or by the kind of upbringing they've had...another factor is the environment where they grew up.
In a 3rd world country like the Phil., 100 pesos could buy a meal from SM food court, maybe the cheapest coffee in Starbucks, or 4kg of uncooked rice. In countries where the standard of living or cost of living is high, 100 pesos (roughly 2 dollars or so, I think), could buy you 2 cans of sodas...a cheap magazine perhaps....a meal from a cafeteria... etc....
So really, a hundred pesos isn't worth that much IF you look at it from a diff. perspective. Yet it could a family of 4 or 5 if you spend it in one of our local markets here.
@melmabb (579)
• Philippines
27 Aug 10
Financial scarcity may change one's Mentality on spending..Even if one was raised with a golden spoon, when in financial turmoil ,he will adjust according to its Financial capability,it happened to me, in fact still i'm in the Period of adjusting things up to now,I used to have my own Business, then it was closed,then i worked in a friend's Firm now,but with a low salary,before i buy a new car every 2 years, but now, i am driving a 12 year old car..it was hard to accept things abruptly, it make take Months, but if one doesn't accept the fate, then one will move forward and Improved...Well,i know you got my point..Just like your Minimum Wage issue, Acceptance and Adjustments temporarily to Live not like the Joneses, but Live a decent Life.Thanks!
@aguas_aj (498)
• Philippines
23 Jul 10
This is a nice experiment. Although everybody knows the importance of money most of us do not really see its value. This experiment will help remind everybody to not take for granted what we have. I hope you keep on doing experiments that will help our society. :)
@magtibaygom (4858)
• Philippines
23 Jul 10
When I read the book "Rich Christians in an Age of Hunger" written by Ron Sider, I saw how the gap between the rich and the poor is widening. He mentioned there how in advance countries people are naive of their over-spending. The money spent by a rich kid in an expensive hamburger in New York can equally feed a whole family of poor here in the Philippines for days!
@melmabb (579)
• Philippines
23 Jul 10
I also want to read this book!"Rich Christians in an Age of Hunger"..The gap is widening so fast Pal,and i think some rich just don't care...they sometimes blame the poor why they live that way...but to be fair there are some rich too, that really help the poor in certain ways...thank you so much!
@Professor2010 (20162)
• India
22 Jul 10
Hello welcome to mylot first
Good discussion, it made me smile, i was in your country too
Well the way of sprnding depends upon the financial status of a person basically, but also upon his/her nature, family back grount and how he was brought up..
In my opnion one should spent money with due care..
Thanks for sharing.
Welcome always. 
Cheers.
Professor
Cheers.
Professor
@meeksilent (514)
• Philippines
22 Jul 10
Basically that result is really predictable. We see money on different views on our economic standing the more money we are having, we easily get used to it and spend it with little value. But for those who have less then they see money as something that is elusive so they spend it wisely. Somehow this research you made is pretty an eye-opener to evryone that what we wastefully spend is something that others deeply value. So share what we have to the less fortunate make a blessing for anyone. :)
