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There’s so much confusion regarding money and personal finance. What sounds right to you may sound ridiculous to the next person. But there are some truths that we simply cannot ignore, because we just keep getting them wrong. Like these five things we have listed here.
How Much Savings You Should Have
Ideally, you should have savings that will cover your expenses for six months, in case of job loss, calamities, or emergencies. Your savings should be able to pay for all your monthly bills and still feed you and allow you some form of entertainment or luxury from time to time.
It’s not just about having a really good salary and several credit cards which you don’t really use. It’s the fact that if something unexpected happens today, you will be financially okay for the next couple of months.
How to Create a Budget
Every payday, most people just set aside money to pay the bills, and then it’s ‘anything goes’ from there. That’s nowhere near a budget. It’s important to create a monthly budget so you know where your hard earned money is going.
Set aside money to pay for the bills, for the home, and for the family. You can set aside some for rest and relaxation, but don’t go over your budget. The rest goes straight to your bank savings.
How Your Credit Card Works
A credit card is a convenient thing to have because it allows you to purchase things with almost a month to pay before the finance charge kicks in. But very few people are able to do this in real life. They carry their credit card balance from month to month because they only settle the minimum amount due.
If you can pay for your purchases with cash, pay in cash instead. Only use your BPI credit card for real cash emergencies. And when you do use it, pay for it in full so you don’t waste money on finance charges. Your credit card is money you don’t have, so think twice, thrice, and maybe even more before swiping.
How to Start Investing
You don’t have to wait until you’re rich to start investing. If you want to be rich, you should invest. Now.
We’re not talking about a million pesos here. Even with just ₱10,000, you can already be an investor. There are mutual funds, UITFs, money market placements, and equities. Take your pick.
You can also invest in business. If food, fashion, travel, or technology is your passion, why not make money out of it as well?
What Affects Your Credit Rating
Your bad credit rating is not just because of your unpaid credit card debts. Your credit rating is built upon how responsible you are with your credit card spending and paying them off in full and on time. This also applies to your savings accounts, personal loans, car loans, and home loans.
Not missing payments and keeping your debts low are just some of the things that you can do to build a good credit history.
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The social media, since its inception, has been a channel through which persons and organizations around the world can post information, share information and post comments etc, as well as communicate with each other. The social media has its advantages and disadvantages which include social bashing, impersonation, crime aiding, among others. Continue reading …
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If you are looking for tourist destinations in the Philippines, then Clark, Pampanga is one of the places that you would want to choose! Even Filipinos themselves often choose this place for their vacations because of many amenities and places they offer.
Clark, Pampanga is about 80 to 100 kilometers from Metro Manila by vehicle, depending on which city you will come from. Continue reading …
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Learning how to drive a car is only the beginning of your ordeal as a motorist in Metro Manila. Sure, you may have mastered the basics of shifting gears or reading road signs or parallel parking. In practice, however, taking to the city streets can be stressful even to the most experienced drivers. Here we look at some handy tips you probably won’t get from your driving instructor. Continue reading …
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The continuous advancement of technology in today’s world requires an equally continuous increase in the need for fuel. Fuel is needed to power the machines involved in these technologies. In the Philippines various energy sources are tapped. Electricity is mainly derived from water power plants or geothermal power plants. Cars and airplanes are powered by oil imported from the Middle East.
Very few could probably still remember, but in the 1980s, an alternative energy source became available to the Filipinos—the Bataan Nuclear Power Plant. This power plant cost the country billions of dollars to finish, but ultimately was never used. To this day, the country is paying the debt we have incurred in the construction of the power plant while it stands in the Bataan, without any foreseeable use. Continue reading …
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The military of a country can make or break its present administration—this claim perhaps is best proved by the events that transpired during President Ferdinand Marcos’ despotic administration. During the implementation of Martial law in the country, the Armed Forces of the Philippines, composed of the Philippine Army, Philippine Navy, and the Philippine Air Force became pivotal in quelling uprisings and attacking “enemies of the state”. But towards the end of Marcos’ presidency, the Philippine military also played a key role in overthrowing the dictator. Continue reading …
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Just recently 11 Chinese fishermen were arrested in a standoff in Palawan after they were caught illegally poaching over 500 marine turtles in the waters of the disputed West Philippine Sea. This event is without a doubt connected to the long-running territorial dispute between China and the Philippines over which country has legitimate claim over the Spratly Islands. The Spratlys region, an oil-rich chain of islands located in what was formerly known as the South China Sea (aka West Philippine Sea) is now being claimed by at least five sovereign states — China, the Philippines, Taiwan, Vietnam, and Malaysia. Notwithstanding, the strongest of claims have always emanated and continue to emanate from China and the Philippines. The clash between the two countries has become so hopelessly bad that the United Nations has already become involved in the arbitration process. Continue reading …
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Politics in the Philippines is unique in a lot of regrettable ways. For one, it is extremely personal—dynastic even. Powerful clans dominate both local and national levels of government. It is a network of compadres, of friends and families, who mastermind grand schemes and plots towards enrichment and self-aggrandizement. Obviously, this kind of personal and clannish politics concerned mostly in itself tends to be the most corrupt. Continue reading …
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