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The latest and the best financial news, tips and tricks.

How to Spend Money Wisely When You’re Trying to Save

Struggling to save money? That’s because you’re probably spending it. After all, if you want to increase your savings, just stop buying things you don’t really need. But in this day and age, that advice is too simple and vague when learning how to spend money wisely. And it’s extra difficult when you’re the type of person who subscribes to the idea of retail therapy as a way of life. Good news: you can continue doing that without totally draining your savings. Just follow these concrete steps to get started with your guilt-free shopping.  Table of ContentsLearn How to Spend Money Wisely with These 6 TipsBegin Categorizing Your ExpensesPrioritize Savings Over ExpensesStart Being More Cost-EffectiveLessen Your Internet TimeSet Up an Indulgence AllowanceDelay Any Unnecessary ExpenseFinal Thoughts Learn How to Spend Money Wisely with These 6 Tips Begin Categorizing Your Expenses Say goodbye to the days when you just click Add to Cart on a whim. Whether you like it or not, part of growing up is to start improving your spending habits. Ideally, you should prioritize wants over needs. But if you want to be more meticulous, you can categorize your spendings into fixed, savings, and variable costs.  Fixed costs include monthly expenses like mortgage, rent, bills, and debt payments. Savings are obviously the amount you allot for either personal or emergency savings. Variable costs are the expenses that are within your control like groceries, dining or food delivery costs, and leisure funds, among other things. Prioritize Savings Over Expenses If your goal is to grow your savings, it’s a…

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Personal Loan Fees and Charges to Consider Before Borrowing Money

Choosing the best loan for personal use isn’t as simple as comparing interest rates and monthly installments. You also need to consider the personal loan fees and charges that add up to the cost of borrowing money. Some of these fees are avoidable while others aren’t. Taking all these factors into account gives you a better idea which of your options will fit your budget and won’t charge you with expensive fees. Ultimately, this will keep you from incurring debt over time. Table of ContentsPersonal Loan Fees in the PhilippinesEffective Interest Rate: 10% to 30%Late Payment Fee: 3% to 8% of overdue amount or PHP 500 per monthEarly Payment Fee: 4% to 8% of outstanding balanceReturned Check Fee: PHP 1,000 to PHP 2,000 per returned checkAmendment Fee: PHP 500 per amendmentFinal ThoughtsCompare Personal Loans Today! Personal Loan Fees in the Philippines Effective Interest Rate: 10% to 30% The effective interest rate (EIR)[1] is “the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds,” as defined by the Philippine Accounting Standards. The Bangko Sentral ng Pilipinas (BSP) uses this EIR definition as well. Put simply, it’s the rate that measures the actual cost of borrowing money. Read more: Need Cash? Check These Options for Easy Loan Application in the Philippines 9 Salary Loans to Consider for Financial Emergencies Loans Without Bank Account: How to Get One in the Philippines Loan Fees and Charges Included in the EIR Computation Personal loans with low interest rates in the Philippines have EIRs…

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[Battle of the Brands] Foodpanda vs GrabFood: Which Food Delivery Service is Better?

Can you imagine your life now without your favorite food delivery service? It’s undoubtedly hard, especially knowing that all your cravings, regardless of time and space, can be satisfied with just a few taps on your smartphone. You may not realize it, but food delivery service is among the most significant breakthroughs in the last decade. Its importance has been further highlighted during the COVID-19 pandemic. No one wants to risk their safety by going out, so many just opt to have their food delivered right to their doorstep. When it comes to this, a lot of people count on two popular food delivery services: Foodpanda and GrabFood. Keep reading this Foodpanda vs GrabFood comparison review to find out which of them is better. Table of ContentsThe Difference Between Foodpanda and GrabFoodComparing Foodpanda vs GrabFood: Which is Better?Ordering and Delivery ProcessService AvailabilityFood and Restaurant SelectionDesktop and Mobile User ExperienceCustomer ServiceDelivery FeesMinimum Order RequirementPayment OptionsDelivery SpeedBusiness FriendlinessFoodpanda vs GrabFood: Final Thoughts The Difference Between Foodpanda and GrabFood Two of the biggest food delivery services in the Philippines today are Foodpanda and GrabFood. But in recent years, GrabFood has been the consistent top-of-mind choice among consumers, based on research by Kantar TNS.[1] Launched in the Philippines in 2018, GrabFood is relatively new in the industry yet it has already amassed a large following. It’s the food delivery arm of the Singaporean transport network company Grab. On the other hand, Foodpanda has been operating in the Philippines since 2014. It’s part of Delivery Hero, a multinational online food delivery service based in Berlin,…

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12 Credit Card Fees in the Philippines to Watch Out For

“Having a credit card is expensive and often leads to unmanageable debt.” Agree or disagree? This is a common concern—and a big misconception—of the average Filipino about owning a plastic card. But credit cards don’t deserve such a bad rep. Just as money isn’t the root of all evil, a credit card in itself won’t drown you in debt. Rather, it’s how you compare, choose, and use credit cards. Credit card bill shock is real, so you must find ways on how to avoid or manage it. Start by knowing the types of credit card charges in the Philippines.[1] In doing so, you can easily come up with some ways on how to save on your monthly bills. We’ve listed down the most common types of credit card fees and charges. For easier understanding, we’ve divided the credit card fees into two categories. Each of the fees also includes the rates of the country’s major credit card providers. Table of ContentsCredit Card Charges in the Philippines: Service Fees for Card Use/Transactions1. Annual Fee: PHP 300 to PHP 12,0002. Cash Advance Fee: PHP 200 per transaction3. Foreign Currency Transaction Fee: Varies per bank4. Balance Transfer Fee: PHP 100 to PHP 900 per transaction5. Gambling/Gaming/Casino Fee: 2.5% to 5% or PHP 500 to PHP 1,000 per transaction6. Charge Slip Retrieval Fee: PHP 150 to PHP 1,250 per slip7. Card Replacement Fee: PHP 300 to PHP 500 per cardCredit Card Charges in the Philippines: Penalty Fees1. Late Payment Fee: PHP 750 to PHP 1,500 or the unpaid minimum amount due2. Overlimit Fee: PHP 300 to PHP 1,5003. Multiple Payment…

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Where to Put Your Emergency Fund: It’s Not as Complicated as You Think

You might already know why an emergency fund is important (which is why you’re reading this article). The next thing you should learn is where to put your emergency fund.  What are the best and worst places to put your emergency fund? There are many convenient and liquid savings options that also offer high interest rates. But are they really the best place to put your emergency fund? Read on to find out more.     Table of ContentsWhere to Put an Emergency Fund: Some Things to Consider  Where to Put Your Emergency Fund in the Philippines1. High-Yield Savings Account2. Money Market Fund3. Traditional Bank AccountWorst Places to Keep Your Emergency Fund1. At Home2. Stock Market3. Life Insurance4. Paluwagan Final Thoughts  Where to Put an Emergency Fund: Some Things to Consider   When the time comes you need to access your emergency fund, you should not have a hard time withdrawing money from it. Make sure that wherever you put your money, it will not be locked in or held out for a certain period. Consider liquidity when choosing a place to keep your emergency cash, so you can get your money quickly and easily without paying any penalty fees and charges. If there’s a major toilet breakdown in your bathroom late at night, you should be able to get money from your emergency fund first thing in the morning. It would be good, too, if your emergency fund can earn interest, even if it’s just a small percentage. If you have a significant amount saved, then you can earn a good amount over…

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Step-by-Step Guide to Car Insurance Renewal in the Philippines

Need to renew your car insurance? This is the best time to review your policy and make necessary changes to it, so you can save money on car insurance. Unlike when you bought your first policy, you now have a better idea of what you really need for insuring your vehicle. So take it as an opportunity to choose the most suitable car insurance policy for you. Here’s a complete guide on how to renew car insurance in the Philippines. Table of ContentsWhen Should I Renew my Car Insurance Policy?How to Renew Car Insurance in the Philippines1. Review Your Policy2. Assess Your Car Insurance Coverage3. Decide on Your Deductible4. Review Your Car Insurance Provider5. Get and Compare Car Insurance Quotes6. Choose the Best Car Insurance Policy and Provider7. Provide or Update Your Information8. Pay for Your Car Insurance Renewal9. Read the Fine PrintFinal Thoughts When Should I Renew my Car Insurance Policy? Most car insurance policies last for a year, which means yours will likely renew 12 months from when your policy started. For example, if your policy’s effectivity date is June 1, 2020, its car insurance renewal due date would fall on June 1, 2021. If you can’t remember your insurance plan’s effectivity date, look for it on the copy of your policy. You may also call your insurance provider or broker to ask when your policy is up for renewal. How to Renew Car Insurance in the Philippines Should I keep my existing policy or shop for a new one? Is it time to change my car insurance…

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How to Make Voluntary Contributions to Pag-IBIG, PhilHealth, and SSS

Did you resign from your job to become a full-time freelancer, OFW, or a business owner? Paying your Pag-IBIG, PhilHealth, and SSS contributions is no longer your former employer’s responsibility—you have to do voluntary contribution from now on. It’s important to continue your contribution payments with these government offices as a voluntary member. You can avail of a personal loan or housing loan, benefits (such as sickness, maternity, and retirement benefits), and health insurance—only if you meet the required minimum number of contributions. Here are the things you need to do if you’re planning to continue your voluntary contribution to Pag-IBIG, PhilHealth, and SSS. Table of ContentsHow to Update Your Membership Records for Voluntary ContributionHow to Change Your Pag-IBIG Membership InformationHow to Update Your PhilHealth Member Data RecordHow to Change Your SSS Membership TypeHow Much is My Voluntary Contribution?Pag-IBIG Voluntary Contribution RatesSSS Voluntary Contribution RatesWhere to Pay Your Pag-IBIG, PhilHealth, and SSS ContributionsPag-IBIG Voluntary Contribution Payment Facilities PhilHealth Voluntary Contribution Payment FacilitiesSSS Voluntary Contribution Payment FacilitiesDifferent Ways to Pay Your Voluntary Contributions OnlineHow to Pay PhilHealth Online 2021How to Pay Pag-IBIG Online 2021How to Pay SSS Online 2021When to Pay Your Voluntary ContributionPag-IBIG Voluntary Contribution Payment DeadlinesPhilHealth Voluntary Contribution Payment DeadlinesSSS Voluntary Contribution Payment DeadlinesFinal Thoughts How to Update Your Membership Records for Voluntary Contribution Before you can start remitting your voluntary contribution, you need to update your membership status with Pag-IBIG, PhilHealth, and SSS from employed to self-employed or OFW. It involves going to each of the government agency’s branch and filling out a form. You may be also required…

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Reasons to Build an Emergency Fund (And Why It’s Different from Savings)

This pandemic has reinforced the importance of emergency fund. The significance of having money saved for unexpected and unplanned living expenses has never been clearer as it is now.   An emergency fund is a good way to strengthen your finances and protect yourself from financial potholes that can put your finances off track or even destroy them.  While an emergency fund can’t solve all your money problems, a savings buffer like it can help you avoid the stress of paying for major living expenses and accumulating debts because of it.  Learn why you need an emergency fund, what makes it different from your regular savings, and where you should use it.  Table of ContentsEmergency Fund vs Savings: The Key DifferencesWhy are Emergency Funds Important?Importance of Emergency Fund: How Does It Help Protect Your Wealth?What Should I Use My Emergency Fund For? 1. Job Loss2. Medical or Health-Related Expenses3. Home Repairs and Appliance Breakdowns  4. Car Breakdowns, Accidents, and Repairs 5. Family Emergencies6 Things You Shouldn’t Spend Your Emergency Fund On 1. Elective Healthcare (e.g. plastic surgery) 2. Holiday Packages  3. Last-Minute Flights 4. Home Renovations and Upgrades 5. Replacement Tires 6. Electrical or Electronic Device Upgrades Final Thoughts  Emergency Fund vs Savings: The Key Differences An emergency fund is money that you put aside to pay for financial emergencies or use during times of financial distress. It should enable you to pay for large and unexpected expenses or sustain you for a certain period without disrupting your finances or burying you in debt. Consider it a larger rainy day fund for major and unplanned expenses.  An emergency fund is…

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SB Finance Car4Cash Guide: How to Get a Loan Using Your Car’s OR/CR

There will be a few instances in your life when you’ll need a great amount of cash immediately. You may be planning to renovate your home, fund your child’s education, or start a business. You may be also dealing with emergency expenses, such as a family member’s hospitalization. In such situations, you may find yourself going to a jewelry pawnshop. But such places, however, can only offer so much. If you have a car, why not get a loan using your OR/CR? When it comes to that, SB Finance Car4Cash is one of the best options that you can go for. Below are some of the important things you need to know about this car title loan and how it can help you with your situation. Table of ContentsWhat is SB Finance Car4Cash?What are the Benefits of Car4Cash?High Loanable AmountFlexible Loan TermWide Range of Accepted CarsNo Need to Surrender Your CarLow Interest RatesLow Processing FeeWhat are the Rates of SB Finance Car Title Loan?Who Should Avail of SB Finance Car4Cash?General QualificationsQualifications for Employed ApplicantsQualifications for Self-Employed ApplicantsWhat Cars are Accepted for the Car4Cash Loan?What are the SB Finance Car4Cash Requirements?General Documentary RequirementsAdditional Documentary Requirements for Employed ApplicantsAdditional Documentary Requirements for Self-Employed ApplicantsHow to Get an SB Finance Car Title Loan1. Check Your Eligibility Criteria2. Submit Your Application3. Wait for the Confirmation4. Have the Car Appraised5. Wait for the Release of CashSB Finance Car4Cash Fees and ChargesHow to Pay Back the Car4Cash LoanFinal Thoughts What is SB Finance Car4Cash? Car4Cash is an unsecured loan from SB Finance, a partnership between Security…

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10 High-Paying Jobs for Fresh Graduates in the Philippines

It’s no secret that COVID-19 changed the landscape of employment here in the Philippines. According to the latest job report from JobStreet[1], over 2 million workers were displaced since the pandemic happened. As someone who is fresh out of school, you’re probably wondering if there are still high-paying jobs in the Philippines you can apply for. Surprisingly, yes there are! There was even a viral post about an applicant rejecting a PHP 37,000 starting salary for an entry level marketing associate job simply because the applicant expected more[2]. So don’t lose hope just yet because the future is still bright for the likes of you. Here are some top-paying jobs you should consider if you want to earn money quick. Table of ContentsTop Industries Hiring During the PandemicTop High-Paying Jobs in the Philippines for Fresh Graduates1. Medical Officer2. Technical Support Representative3. School Teacher4. Call Center Agent5. Engineer6. Nurse7. Customer Service Representative8. Sales Associate9. Data Analyst10. Admin AssistantFinal Thoughts Top Industries Hiring During the Pandemic As of May 2020, over 37,000 jobs are currently available for your taking. 63% of those JobStreet listings are education-related while 10% of them are related to maintenance services. The top industries hiring right now includes BPO, human resources, government, and education sectors. You may find these listings in online job sites so the choice is still yours to make. Top High-Paying Jobs in the Philippines for Fresh Graduates 1. Medical Officer Average Monthly Salary: PHP 59,353 It’s no surprise that the healthcare sector needs all the help they can get during the pandemic. So if…

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Visa vs Mastercard: Which Credit Card Network is Better?

During the credit card comparison phase of your credit card journey, you’ve probably encountered cards that have either the Visa or Mastercard logo in them. Ever wondered what’s the difference between Visa and Mastercard? Will it affect your choice if one card payment network is somehow better than the other? But wait, what exactly is a card payment network? On a nutshell, credit and debit cards work because card payment networks like Mastercard and Visa provide the systems that process all the card transactions between merchants and banks. They instead partner with financial institutions like banks to distribute the cards to potential clients. And because they’re not the ones issuing the cards, they are not in charge of setting the interest rates, annual fees, and other credit card features. But Visa and Mastercard do offer perks and benefits that are exclusive to each of them. Here are the things you need to know about two of the largest card payment networks in the world. Table of ContentsComparing the Similarities with Visa and MastercardWorldwide AcceptanceContactless PaymentsBasic and Premium CardsOnline Shopping ProtectionGlobal Customer Assistance ServicesComparing the Difference Between Visa and MastercardFeatures and Benefits per Card TypeIssuing BanksFinal Thoughts Comparing the Similarities with Visa and Mastercard Mastercard and Visa have a lot more similarities than differences. Here are the most notable features that both credit card networks offer: Worldwide Acceptance Millions of merchants in over 200 countries worldwide accept both credit card networks. Whether your card is a Visa or Mastercard, you can use it to pay in just about every establishment that…

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DTI Loans for Small Business: How to Apply for P3 CARES 2 Program

Since the implementation of community quarantines, small businesses continue to be affected by business closures, shortened operating hours, reduced workforce, and continuous expenses. All these business challenges have resulted in unstable cash flow and income losses.  Because of this, many businesses have implemented adaptive business measures, like implementing work-from-home arrangements, using online platforms for all transactions, reducing costs, and diversifying products and services. Aside from these, the government continues to provide financial assistance to help small businesses recover from the adverse impact of the pandemic.  The Department of Trade and Industry’s P3 CARES Program offers collateral-free and interest-free loans to micro, small, and medium enterprises (MSMEs) in the Philippines. Find out how these DTI loans for small businesses work and how you can avail of them.    Table of ContentsDTI Loans for Small Business in the PhilippinesDTI P3 ProgramCARES ProgramHow to Apply for the DTI P3 CARES 2 ProgramDTI P3 CARES 2 Loan Online Application StepsAccredited Financial Institutions for DTI P3 and CARES 2 ProgramsFinal ThoughtsApply for a Personal Loan for Your Business Needs DTI Loans for Small Business in the Philippines The Department of Trade and Industry (DTI) and Small Business Corp. (SBC) launched the COVID-19 Assistance to Restart Enterprises (CARES) Program. The SBC CARES Program helps entrepreneurs get back on their feet. CARES offers DTI loans of up to PHP 500,000 and is part DTI’s Pondo sa Pagbabago at Pag-Asenso, also known as P3 Program, first launched in 2017. The P3 and CARES programs are quite similar. However, CARES Program specifically accommodates entrepreneurs whose businesses were affected by the…

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3 Easy Steps to Apply for a Housing Loan with Nook

Buying a home may seem like an elusive goal for many Filipinos. For the most part, investing in a property requires a lot of money. Thankfully, though, real estate developers won’t require you to pay for the property’s total sum in cold cash. With the right help, you can get and live in your dream home. Aside from a real estate agent, a mortgage broker, like Nook, can help you find good deals on mortgage. Mortgage brokering may be a new concept to you since it’s not widely known yet here in the Philippines. But it’s worth a try—a mortgage brokering company can help you save time and money on your online home loan application. In this article, you’ll get to know more about Nook and how you can use the platform to easily apply for a housing loan online. Let’s start! Table of ContentsWhat is Nook?Why Should You Get a Home Loan Through Nook?1. Apply for a Housing Loan Online in the Comfort of Your Home2. Nook Has Partnerships with the Country’s Reputable Banks3. It Helps You Save Money in the Long Run4. You’re Committed to the Right Kind of Home Loan5. Getting Pre-Qualified Doesn’t Take Too Long6. No Application FeeNook Online Home Loan Application Process: 3 Easy Steps to Apply for a Housing LoanStep 1: Complete a Pre-Qualification FormStep 2: Proceed with Your Online Home Loan ApplicationStep 3: Wait for the Bank’s ApprovalFinal Thoughts What is Nook? Nook is a mortgage broker—the Philippines’ first and the only one of its kind.[1] Simply put, a mortgage broker is a…

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Need Extra Income? 8 Ways to Make Money Using Your Car

You know the old saying, “With great cars comes great expenses”? You probably don’t, but you won’t find the lie in that statement. You’ll be spending a lot on fuel, maintenance costs, and car insurance in the Philippines. Not to mention that the older your vehicle, the lower its resale value is. Because of this, it’s best to maximize your vehicle until it’s time to say ‘goodbye’ and purchase a new one. According to a research conducted by Toronto Star[1], the average lifespan of newer vehicles is 12.88 years, which means you’ll have more than enough time to figure out how to earn money using your car in the Philippines. Fortunately, the fact that a car can conveniently get you from points A to B means you won’t run out of business ideas. Here are a few ideas you can try out. Table of ContentsHow to Earn Money Using Your Car in the Philippines1. Offer Delivery Services to Neighbors2. Become a TNVS Driver or Operator3. Organize a Carpool Group4. Start a Shuttle Service Business5. Rent Out Your Car6. Become a Driving Instructor7. Sell Advertising Space8. Sell Your VehicleFinal Thoughts How to Earn Money Using Your Car in the Philippines 1. Offer Delivery Services to Neighbors If you’re the unofficial social butterfly of your neighborhood, you can offer to be a delivery person for your neighbors. You can take their pets to the groomers, pick up and deliver packages for them, or offer to buy their essentials. Owning a car during the pandemic can be an instant source of income by offering your services to those…

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Mother’s Day Ideas: Affordable Ways to Celebrate with Your Mom at Home

For many of us, celebrating Mother’s Day is a big deal—and it should be! With all their sacrifices and unspoken hardships, mothers deserve not just to be loved but also to be revered and celebrated. If you could, you’d certainly give her the world plus the moon and the stars. But you know that there’s one reality keeping you from doing that: your limited budget. But who says you need to have a grand celebration just to show your love? There are many ways to celebrate Mother’s Day without breaking the bank. Your mom will understand your limitations, especially these days when practicality should always come first. Nevertheless, she’ll surely appreciate whatever you’ll give her. Table of Contents9 Simple Yet Touching Ways to Celebrate Mother’s Day on a Budget1. Cook a Fancy Lunch or Dinner2. Organize a Movie Marathon3. Take Charge of the Household4. Write or Perform a Song5. Organize a Surprise E-Reunion6. Enroll Her in an Online Master Class7. Gift Her Plants8. Turn Mother’s Day into a Spa Day9. Create a Heartfelt Video GreetingFinal Thoughts 9 Simple Yet Touching Ways to Celebrate Mother’s Day on a Budget With some creativity, thoughtfulness, and just a few bucks, you can pull off a memorable Mother’s Day. Let the Mother’s Day suggestions below serve as your starting point. 1. Cook a Fancy Lunch or Dinner Going out for a celebration may not be the most practical idea right now, both healthwise and budget-wise. But you can still have a fancy meal on a budget by cooking everything yourself (or with the help…

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COL Financial Review and Beginner’s Guide to Stock Investing

Curious to know which investments for beginners are right for you? Looking to grow your money in the long term through investing in stocks? Gone are the days when only the wealthy can afford to buy in the stock market. Now, everyone—even college students and housewives—can begin investing through online stock brokers like COL Financial. Stock investing in the Philippines is made easy and affordable for the average investor through online trading platforms. COL Financial for beginners is easy to learn. It’s worth opening an account with this online platform if you’re planning to start as a stock investor even with minimal knowledge and experience in investing. In this COL Financial guide, you can easily learn the ropes and jump-start your stock investment journey. Table of ContentsWhat is COL Financial?Is COL Financial Legit? What Can You Do with COL Financial?Is COL Financial the Right Online Trading Platform for You?1. Attend Free COL Online Seminars2. Sign Up for a Free Trial Account3. Explore Other Online StockbrokersDoes COL Financial Have an App?How to Invest in COL Financial1. Decide Which Account Type to Open2. Prepare the COL Financial Requirements3. Submit the Requirements to COL Financial4. Fund Your COL Account5. Access Your COL AccountCOL Financial for Beginners: How to Use the Online Trading PlatformHow to Buy and Sell Stocks in COL FinancialHow to Withdraw Money from COL FinancialFinal Thoughts What is COL Financial? COL Financial Group, Inc. (formerly CitisecOnline) is one of the leading and most popular online stock brokers in the Philippines. For around 20 years, the company has been offering an easy…

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HSBC Credit Card Application: Quick Guide for First-Timers

HSBC is one of the largest banks in the world and one of the leading credit card providers in the Philippines. The bank issues five types of credit cards that cater to different lifestyles and needs. With an attractive reward program, a 0% installment plan, and other exclusive deals, who would not want an HSBC credit card? If you already have an HSBC card in mind, here are the four steps to keep in mind. Table of ContentsSteps to HSBC Credit Card Application Philippines1. Check if You’re Qualified2. Prepare All Requirements3. Decide Which Credit Card to Apply For4. File Your ApplicationWhat is the HSBC Credit Card Application Processing Time?Is HSBC Credit Card Visa or Mastercard?How to Check Application StatusHow to ActivateFinal Thoughts Steps to HSBC Credit Card Application Philippines 1. Check if You’re Qualified Make sure that you’re eligible to apply for the credit card—this is the first and most important step in the entire application process. You can apply HSBC credit card if you meet all these requirements: Between 18 and 70 years old Have a gross annual income of at least PHP 200,000 (for Red Mastercard and Gold Visa Cash Back) or PHP 500,000 (for Platinum Visa) An HSBC Advance[1] bank account (for HSBC Advance Visa) or an HSBC Premier[2] bank account (for HSBC Premier Mastercard) Primary cardholder of a credit card that’s issued by a bank in the Philippines and in good standing for at least 12 months (for Red Mastercard, Gold Visa Cash Back, and Platinum Visa) 2. Prepare All Requirements HSBC will process your credit…

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Affected by the Pandemic? Get Help Through COVID-19 Government Assistance Programs

Infected or not, Filipinos are grappling with the impact of the COVID-19 pandemic in one way or another. The public health crisis has disrupted the lives of many. From simple inconveniences like getting stuck in one’s home to more serious problems like the increased risk of COVID-19 infection and loss of income, every day has been a challenge for most. To help Filipinos recover from the loss of economic opportunities due to the pandemic, the government continues to provide unemployment benefits, financial aid, and other forms of assistance. We compiled them into one place so you know which ones you can avail and benefit from. Table of ContentsCOVID-19 Government Assistance in the PhilippinesFree Medical ConsultationPhilHealth Coverage for COVID-19 PatientsCOVID-19 Emergency Financial Assistance from the GovernmentUp to P4,000 Cash Aid for Low-Income FamiliesSSS Salary LoanSSS Calamity LoanGSIS Calamity LoanPag-IBIG Multi-Purpose and Calamity LoansUnemployment Benefits for Affected WorkersSSS Unemployment BenefitDOLE CAMP: P5,000 Cash Aid for Local WorkersTemporary Jobs for Informal WorkersCash Aid and Repatriation for OFWsFinal ThoughtsGet a Personal Loan for Your Urgent Cash Needs COVID-19 Government Assistance in the Philippines Free Medical Consultation Do you or any family member have possible COVID-19 symptoms? Call any of the following DOH COVID-19 emergency hotlines[1] to ask about your condition: DOH COVID-19 Hotline: (02) 8 952-6843 For PLDT, Smart, Sun, and TNT subscribers: 1555 This free service is available 24/7 for questions from people who suspect they might be infected with COVID-19. Through this emergency hotline, DOH also accommodates requests from those with symptoms and/or known exposure to positive cases and/or patients under investigation…

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Building Your Child’s Tuition Fund: A 5-Step Guide for New Parents

“Pasensya na, anak. Hindi ka namin kayang pag-aralin sa college.” For parents, the guilt over failing to support their child’s needs is one of the worst feelings in the world. Nobody wants to be that parent who can’t afford to send their child to a good school. Education in the Philippines will become more expensive in the future because of inflation. So while you’re still young, building a family, and earning a stable income, start preparing financially for your child’s education and knowing how to save up for tuition. Table of ContentsWhen Should Parents Start Saving for Their Child’s College Tuition?How to Save Up for Tuition: 5 Steps Parents Must Take1. Set Your Tuition Fund Goals2. Create a Savings Strategy3. Invest Your Money4. Start Investing Now5. Track Your ProgressHow to Save Up for Tuition Faster1. Consider All Costs When Setting Your Target Amount 2. Teach Your Child the Value of Education 3. Boost Your Child’s Tuition Fund Whenever You Can4. Consider Your Career and Salary Trajectory5. Avail of a Personal Loan6. Just Start Saving!Final ThoughtsCompare Personal Loans at Moneymax! When Should Parents Start Saving for Their Child’s College Tuition? The answer is as soon as possible. In fact, you can start saving even before your child is born. It’s an ideal time to save because your expenses won’t be as big compared to when your child starts preschool or grade school. Plus, starting your child’s college fund while they’re still very young gives you at least 10 years to save up for tuition. Of course, not every parent’s financial situation is the…

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OR/CR Sangla Guide: All About Car Pawning in the Philippines

These days, there are countless choices of loans and financial services that offer quick cash to those who need it. Some use their credit cards as a cash substitute while others go for salary loans. However, these options can only offer so much, and they may not be the best routes in case you need a large amount of cash. If you own a car, you may consider a car collateral loan in the Philippines. In this guide, we’ll share with you all the important things you need to know about this particular type of loan. Table of ContentsWhat is a Car Collateral Loan?How Does a Car Title Loan Work?What are the Advantages of a Car Collateral Loan?1. Get Cash Instantly2. Application Processing is Usually Fast3. Credit History is Not Required4. Your Car Doesn’t Have to be Surrendered5. Some Companies Accept Different Kinds of VehiclesWhat are the Disadvantages of Car Collateral Loan?1. You Might Need to Surrender the Car2. Interest Rates Can Be Pretty High3. There’s a Risk of Low AppraisalWhere Can I Get a Car Collateral Loan in the Philippines?SB Finance Car4CashAsialink Collateral LoansGDFI Car Collateral LoanMaybank Auto Loan RefinancingTips to Remember When Applying for a Car Collateral Loan1. Check the Lender’s Credentials2. Make Sure Your Car is in Good Condition3. Check If You Can Pay the Loan Off QuicklyFinal Thoughts What is a Car Collateral Loan? A car collateral loan, also known as OR/CR sangla or car title loan, is usually a secured loan,[1] which means that you’ll need to put something as collateral before you can borrow…

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