Which one would he/she choose?

[NALs]

Just hypethetical here....

let's say a local Dominican, earning roughly 8,000 pesos a month, male or female (you pick!), wins a lottery.

He or she can choose from the following prizes; which one is chosen, and why?

1. A brand new Bling Bling Jipeta, worth 750,000 RD Pesos.
2. A home in the RD built to her specs, worth again .... 750,000 RD Pesos.
3. Or ... a monthly stipend of 5,000/month, for 240 months/20 years.

Please answer by first indicating that you are speculating on the choice made by a Male or Female.

If you want, you can add a little description of their life (hypothetical).

Lastly, please indicate which prize heor she would choose, and give some reasoning.

I suspect and hope that this will inspire some debate.

Thank you for your input!!

Male: He will most likely take the Jipeta.

Female: most likely take the new house.

Why? People always want what's theirs as soon as possible. Additionally, it's always better, in the case of lotteries and such, to take a lump sump (if possible), because as you will see, in the long run installments don't really equal the amount promised, due to taxes and the sneeky inflation, not to mention the possibility of a sudden depreciation of the currency which would lead to inflation in either case.

With the case of why would a male pick a Jipeta over a house? Instant gratification.

Why would a woman pick a house over a Jipeta? Women tend to be mindful of herself, those who depend on her and the future.

In general, among Dominican men and women, the women tend to be more prone to saving and re-investing within the family for the progress of the family itself where as men tend to be more prone to not saving, purchasing depreciating items and sometimes, using non-leasure money for leasure activities.

Of course, this is not always the case, but there are plenty of cases in this situation that makes this speculation possible for most.

-NALs

 

[samanasuenos]

Gracias!

(FYI, I am sipping a cup of Cafe Puro. )

Gracias Nals.

I especially liked what you said, "In general, among Dominican men and women, the women tend to be more prone to saving and re-investing within the family for the progress of the family..."

I had forgotten that this is my experience as well. Among my friends, the not so well off, and many struggling, when one needs cash .... they go to Mama. No that they will get it, but they know who has it. And who does not. (Papa).

I especially enjoy this as it is a slap in the face to those who would offer the stereotypical (poor) female with no interest nor knowledge of how to save money.

I have seen some RD mothers and grandmas accumulate some SERIOUS cash.

I will have to say that I have not seen this as much or as strongly represented in my limited familiarity with other "hispanic" groups/cultures.

I wonder if it tends to be more Caribbean? Gracias Nals. I can always count on you for some good reading!

 

[samanasuenos]

Dogstar!

Thank you!


I read earlier a post that my house price meant a crappy house - that guy was thinking in expat tastes, eh?

I KNEW that I had heard of inexpensive houses.

Case in Point & Rambling Caffeinated Tangent:

One evening, in the RD, I was strolling by what appeared to be squatters in an unfinished home construction - rebar everywhere, you know the story. So, Dumb Me, I say in a Too Loud Voice to my friend, (and worse - in Spanish) "hey, look at those bums/squatters!"

Do you all know what happened next?

A Big. Wake. Up. Call.

(I pray that the Blaring Bachata from their neighbors covered my foolish remarks.)

Why?, you may ask. Bueno mi amor...

Because. My friend told me that those "Squatters" were in reality a young newly-wed couple - folks that I saw around town regularly.

Yep, and since they had a little money after the wedding, not enough to complete a house, well, they thought - hey, let's move out of Mama's house with one bedroom. And six nieces and nephews.

They did just that. They had enough to pour the foundation and half of the first floor walls. I am guessing here, but it looks like they live in a large "kitchen", with no electric, a cloth curtain where the window would be, and well, no bathroom yet.

I think I heard that they paid less than $5,000 USD.

And, as they earn and save, they add on - in the same vein as Dominicans who often build a one-story house and add on the second floor as cash permits.

For many of you, this is old hat - discuplas.

And for those who learned a little something, pleae keep your voices down when acting as an idiot passing judgement in Spanish. Just like me! Right!

 

[samanasuenos]

Ricardo!

Ricardo - No problema. You are forgiven. As for the six lucky numbers, take the bra and shoe sizes for your last three "friends." JA!

 

[Chirimoya]

(FYI, I am sipping a cup of Cafe Puro. )

Gracias Nals.

I especially liked what you said, "In general, among Dominican men and women, the women tend to be more prone to saving and re-investing within the family for the progress of the family..."

I had forgotten that this is my experience as well. Among my friends, the not so well off, and many struggling, when one needs cash .... they go to Mama. No that they will get it, but they know who has it. And who does not. (Papa).

I especially enjoy this as it is a slap in the face to those who would offer the stereotypical (poor) female with no interest nor knowledge of how to save money.

I have seen some RD mothers and grandmas accumulate some SERIOUS cash.

I will have to say that I have not seen this as much or as strongly represented in my limited familiarity with other "hispanic" groups/cultures.

I wonder if it tends to be more Caribbean? Gracias Nals. I can always count on you for some good reading!

Sam, this has been found to happen in countries all over the world with credit microprojects in poor communities. At first, the loans would be given to the 'head of household' and the lenders soon noticed a distinct pattern: the women would almost always pay back the loans, while the men were not so reliable. In general, the women would spend the money on things that helped the household, the men would spend it on themselves. In the worst cases they would spend it on booze. I've read about this happening in India, in South and Central America, in the Middle East as well as the Caribbean. So, it's not a Caribbean thing.

 

[samanasuenos]

Fascinating!

Thank you Chiri - WOW! I had no idea. Very interesting. Thank you!