Bayudang, Sarah S.

BSN 2-B
1.What are the different income classes in the Philippines based on recent Statistics?
Indicate your reference /source. Tabulate your answers
According to Philippine Institute for Development Studies (PIDS), the income
classes for an average household of five are as follows:

Income classification Monthly income

Rich At least ₱182,000 and up

High income (but not rich) Between ₱109,200 to ₱182,000

Upper middle income Between ₱63,700 to ₱109,200

Middle class Between ₱36,400 to ₱63,700

Lower middle class Between ₱18,200 to ₱36,400

Low income (but not poor) Between ₱9,100 to ₱18,200

Poor Less than ₱9,100

Source: https://www.imoney.ph/articles/middle-class-sector-philippines
2. Based on different income classes, assuming you belong to the low-income status,
how do you manage or maximize your resources /income?
If I have a low income, I'll control my spending by creating a budget. I'll look into
how my money is used. To identify my largest expenses and keep track of pointless
purchases, I shall keep a spending record. As a result, it is simpler to distribute money
wisely and ensure that there is enough money for the important activities.