It’s Ramadan Sale! Should You Shop Or Not?

The Middle East is an adopted home to many OFW’s (overseas Filipino workers) where they also experience one of the holiest months in Islam. The month of Ramadan is also synonymous to the 3-day mall sales in the Philippines. Only that it’s 30 days/nights for most locals (and Pinoys as well) of splurging and spending extra on food, personal items, appliances, clothes, gadgets, etc. on huge discounts!

Even some remittance centers lower their fees and charges during this month. Awesome, isn’t it?

The only usual problem I observe is that many Filipinos would spend above their means during this season just because their colleagues are spending too. Or that because they are bored in their apartment during the night so they need to go out and window-shop around downtown. Just to kill homesickness and boredom.

Most often, this window-shopping would lead to pulling out of wallets and actual shopping of unnecessary things. Kahit isang supot lang.

They believe that it’s the time to buy the things that they want even if they have to use their credit cards or to borrow money from their apartment buddy or workmate.


Buying The Things You Need on Discount

There’s nothing wrong in shopping on great discounts. In fact, if you have extra cash or savings (not emergency fund) this is the great time to buy those things that you really need.

Perhaps this is the time for you to consider replacing your very old and worn out pair of shoes? Go ahead. Buy a new pair on discount. But make sure they are of great quality as well.

Or probably you’re just a few days away from your vacation to the Philippines, maybe you can score a couple of shirts and dress to surprise your kids and wife?

But always remember, do this only if you have extra cash from your “lifestyle” budget. If you or your family are currently paying off debts or supporting a family member in distress, maybe you can delay your spending itch a little bit more until all your obligations are done.

Saving more money is far more greater than buying things you don’t need even if they are sold at discount prices.

Ramadan w

Reminder: Obey Local Traditions During Ramadan

I hope that our OFW’s will respect this rich and holy tradition of the countries where they are currently living and working by not eating or drinking in public. Couples should also refrain from displaying too much affection when outside.

In countries like Saudi Arabia, policies are very strict that violators who will be caught disrespecting Ramadan may be imprisoned or deported to their home countries. So be careful, fellow Filipinos.

Ramadan Kareem. Ramadan Mubarak to my Muslim readers.

Follow my posts about saving and frugal living by subscribing to BurnGutierrez.Com.

Join the OFW UsapangPiso Facebook Group to learn how to plan your finances the right way and how to grow your money in various financial instruments and investment vehicles such as stocks, mutual funds, UITF’s, bonds, money market, real estate, and others.

P.S. 1. Are you an OFW who’s been looking for a investment placement where your money could grow higher than your time deposit accounts? Are you outside of Metro Manila and would like to start investing in mutual funds but have no personal advisors to help you out? Click here so I can help you open a mutual fund account NOW! .

P.S. 2. Bro. Bo Sanchez has appointed me as a coach for our young and new investors at the TrulyRichClub social site. It’s a fun, learning family with the purpose of “helping good people become rich”. I’m inviting you to join the TrulyRichClub too and email me at if you have any questions. Click here to join!

P.S. 3. My co-author/illustrator Des Feliciano and I have just launched our “The Adventures of Pepot Kuripot and Dora Gastadora” comic book! It’s arguably the first and only personal finance-influenced comic book in the Philippines. Order your copy now from our website and have it delivered right at your doorstep. Or you can grab your copy yourself at The Pantry at 07 in Makati City and ilovemilktea in Las Pinas City. Now available also in Australia, Saudi Arabia, and the USA! Email for more details.

P.S. 4. If you are based abroad or just outside of Metro Manila and has been itching to learn more on how to jumpstart your business dreams, join me and my friend, serial entrepreneur Ginger Arboleda, as we take you through a series 2-hour webinars (for 11 Saturdays) that will help you focus on the technical skills and specific things that you have always wanted to know about in order to grow your business. We have come up with 10 sessions with 11 expert lecturers (with 1 FREE session if you enroll in the full program) that will make you a stronger and better entrepreneur. Register here to join the Enter Entrepreneurship Webinar Program now!

P.S. 5. Eto na! Get your FREE video training on “How To Create Multiple Streams of Income” and get rich legally by joining the “New Rich”! Know why your “sahod” is the worst income there is. You will also discover the 3-step process to grow your income starting today! Tara na! Click here!

P.S. 2. For those who based in Manila, you may attend our FREE Biblical finance seminar on July 27, 2013 at the Rufino Towers, Makati City. Keep posted here for details.

P.S. 3. If you are living in Dubai, join our FREE CashFlow 101 Game session this Saturday, July 13, 2013.  Select participants will be given a chance to win for their loved ones in the Philippines FREE movie tickets to watch Wolverine- 3D at Glorietta Cinema on July 25! Click the poster below for registration details.


Photo credits:
Setareha, Wikimedia Commons
Ramadan 1, Dennis Inpa