Kuripot Tip: Money Tips From the Chinese

Image from Today Duke

Kung Hei Fat Choi! Ni hao ma? The only thing I know so don’t judge.

Since it is the Chinese New Year, it is also best that this post would be related to it. Not the New Year however but it would be centred to the Chinese.

When we look at the richest man in the Philippines, it would be Henry Sy of SM Group with a net worth of $12 billion (Forbes List August 2013). The second one is Lucio Tan of LT Group with a new worth of $7.5 billion. The third is Andrew Tan of Megaworld with $4.6 billion. I bet you know the common denominator here. It takes no rocket science knowing that the top three richest men in the country are Chinese. So with that, there must be something that the Chinese people and businessmen do that they prosper with their venture. Even more, there are many things that we can learn from our Chinese brothers and sisters with regards to handling their money. Here are some principles we can definitely apply.


Being frugal is a virtue to the Chinese. This is actually a concept that has been taught to them for many years. Dao De Jing even states that the greatest resources one can have are love, generosity and frugality. It is no wonder that being frugal is an integral part of their culture.  It is no wonder then that they were able to save tons because of this trait. They don’t tend to brag their material possessions. Most of them live in ordinary homes with ordinary vehicles. Some Chinese individuals also dress simply even if they have millions in their bank accounts. You may not even know it that they are rich by the dozen.


With regards to savings, hands down to the Chinese. They have a system on how much they would save from their income. Most of us save like 20-30% of our salary. They however save as much as 50%. Can you imagine that! The bulk of their salary is directed to savings. I bet some of us can’t handle that. However they can. And they have proven time and time again that it can be possible. And look where they are right now?


Chinese teach their kids about money when they are still very young. They let their children work and attend to their business regardless of age. This makes the kids appreciate how they were able to get money hence they would not waste it over petty purchases. Most of the time these kids are also the ones handling their parent’s business in the long run. With the experience they got from their youngster years they are more capable of handling it when they will grow old. And most of the time they succeed. If only we Filipinos can be able to do the same. That is teaching our children how to handle money and how to run our business. Most of us don’t seem to incorporate that simply because they are kids. But little do we know that the immersion they get when they are young, the more impact on it when they grow.


Many Chinese are debt-free. As much as possible they pay cash on their purchases. They do not incur debts at all. If they happen to borrow money, they always see to it that they will be able to pay it in full in the shortest time possible. True the family might have to cringe a little during this time however they know they are trying to pay a loan. Everyone in the family understands and everyone sacrifices for the meantime. But in the end, it is them who will benefit the most.


Chinese have strong ties to their fellow Chinese. They go to the same church, they bond with each other, they live in the same compound and even marry another Chinese. Even more, when a fellow Chinese needs money to start-up a business, they would also be helping them with regards to finances. Such trait is something we can see in a lot of the Filipino Chinese in the country. Their support for each other is something we cannot fathom.  Remember Dao De Jing’s love, generosity and frugality? Even if they are frugal, they are also generous. That is why they help each other.

These are some of the things we can duly learn from the Chinese. These traits make them a good example on how we should manage our finances and our money. And I am certain the three richest men in the Philippines have been embedding these also in their system most especially when they were starting up. Remember Henry Sy’s humble story?  So let’s pick a trait or two and for sure, it will financially help and aid us.  

P.S. To those doing the 52 Week Money Challenge and 52 Week Money Challenge Version 2, it is Week 5 already! Did you deposit the next amount yet?

P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.