All Articles With Category : Personal Finance

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

40 Money-Saving Tips for Everyone: The Ultimate Financial Hacks List

It’s easy to declare that you’re going to be more financially responsible from now on. But once you start going down the right path, you’ll find out that it’s not as easy as it sounds. In a country like the Philippines, money isn’t as easy as working hard. Sometimes, you have to keep reminding yourself with small nuggets of money-saving tips.  And luckily, that’s exactly what we did. We made a list of formidable financial hacks that can help inspire you to lead a healthier financial life, one step at a time. Table of ContentsBest Money-Saving Tips for Everyone1. Make a budget for everything2. Practice comparing prices3. Take care of your health4. Build your emergency fund ASAP5. Add purpose to your saving goals6. Find daily inspirationBest Money-Saving Tips at Home7. Buy energy-efficient appliances 8. DIY techniques can help you save9. Recycle your old and unused stuff 10. Rent out extra rooms for extra income11. Get rid of your cable and landline subscriptionBest Money-Saving Tips Online12. Enroll your bank accounts online13. Open a digital bank account14. Download money management apps15. Wait for online sales and discounts 16. Turn off autofill features on your devicesBest Money-Saving Tips for Families17. Educate your kids on saving money18. Choose generic over branded medicine19. Choose a fuel-efficient car20. Don’t be afraid to apply for a personal loanBest Money-Saving Tips for Millennials21. Get yourself a credit card 22. Follow the 48-Hour Rule23. Minimize your food delivery spend24. Look for ways to earn extra incomeBest Money-Saving Tips for Students25. Open a bank account 26. Avoid vices like smoking and drinking alcohol 27. Join viral…

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[Battle of the Brands] Globe vs Smart: Which is the Better and Faster Mobile Network?

It’s either you’re a Globe user or a Smart loyalist—that’s the reality many of us have faced for the longest time. After all, these two telecommunications juggernauts are the only ones dominating the game. Globe Telecom, which is owned by the Ayala Corporation, is undoubtedly one of the biggest and most profitable companies in the country. As of 2020, it has more than 76 million subscribers.[1] PLDT-owned Smart, on the other hand, rallies behind. Yet, it racked up 72 million users last year.[2] But things are certainly about to change with the entry of DITO Telecommunity, the third major telco player. It has already launched its data and basic text and call services, and it may start offering broadband services come 2022.[3] But for now, let’s just focus on the duopoly of Globe and Smart. This edition of the Battle of the Brands will compare the two networks’ prepaid and postpaid mobile services. This comprehensive Smart vs. Globe guide will help you decide whether it’s much wiser to stick with your current network or make the switch. Additionally, we’ve also looked into the travel SIM packages offered by these companies to help OFWs/balikbayans and foreign tourists decide which service is much better for them. Table of ContentsSmart vs Globe Prepaid ServicesPrepaid RatesCall and Text PromosSurf-Only PromosCombo PromosSmart vs Globe Postpaid PlansSIM-Only Postpaid PlansPostpaid Plans with Device4G AvailabilitySmart vs Globe: Mobile Data Connection SpeedMobile Video ExperienceDownload SpeedUpload SpeedGames ExperienceSo, is Smart Faster than Globe?Smart vs Globe Travel SIMWhat is the Best SIM Card to Use in the Philippines?Smart vs Globe: Final…

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6 Important Things Our Dads Taught Us About Money

Some of the most important money lessons we’ll ever learn come from our fathers. As our main provider growing up and our first financial advisor when we were starting out in our careers, our dads have plenty of sound financial advice. How we earn, spend, save, and invest―money lessons from dad guide us in our own financial journey.  To celebrate and honor the main men in our lives this Father’s Day, we recently had a chat with our colleagues at Moneymax and asked the biggest financial wisdom they learned from their dads. Some of these you’ve probably heard from your own father, too, so read and be inspired.   Table of ContentsMoney Lessons from a Father to His SonInvest and Save Up for Your Own BusinessBuy Only What You NeedDon’t be Afraid to Take Risks Life Lessons from a Father to His DaughterPrepare for Life’s EmergenciesThere’s Value in Delayed Gratification Save Up to Buy What You Want Final Thoughts  Money Lessons from a Father to His Son A son’s relationship with his father is one of the most important, if not the most important, relationships he’ll ever have. It evolves over time, filled with many lessons imparted and experiences shared. Furthermore, sons model themselves after their father’s character.[1] For Jeron, Ras, and Ricky, here are some money lessons they’ve learned from their dads.    Invest and Save Up for Your Own Business Moneymax’s Business Analyst, Jeron Legaspi, is a man of few words, much like his dad whom he describes as a quiet man. “My father is deaf, so we don’t really talk too…

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What You Need to Know About COVID-19 Vaccines in the Philippines

The development of coronavirus disease (COVID-19) vaccines is a huge help in the fight against this global pandemic. With a COVID-19 vaccine in the Philippines, people can get protection from severe symptoms that usually lead to hospitalization or death.   As of this writing, there are 1,300,349 COVID-19 cases in the country and a total of 22,507 deaths.[1] The Philippine government is aiming to achieve herd immunity against COVID-19 by 2023.[2] Herd immunity or community immunity occurs when a high percentage of the community is immune to a disease (through vaccination and/or prior illness), making the spread of this disease from person to person unlikely.[3] Table of ContentsWhat is the COVID-19 Vaccine? Is It Safe to Get the COVID-19 Vaccine?Who Will Get Vaccinated First? COVID-19 Vaccination Program Prioritization FrameworkWhere to Register for Free COVID-19 Vaccine in Metro ManilaCOVID-19 Vaccine Price List in the PhilippinesAvailable Brands of COVID-19 Vaccine in the PhilippinesSinovacPfizer–BioNTechOxford–AstraZenecaSputnik VFAQs on COVID-19 Vaccines in the Philippines1. Has anyone caught COVID-19 after getting the vaccine?2. Do I still need the vaccine if I already had COVID-19?3. What are the side effects of the COVID-19 vaccine?4. Is COVID-19 vaccination mandatory?5. What should I do on my vaccination day? 6. Can the private sector procure COVID-19 vaccines?Some Things to Remember on Your Vaccination DayFinal Thoughts What is the COVID-19 Vaccine?  The COVID-19 vaccine provides acquired immunity against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus causing COVID-19.  In general, vaccines work by helping your body develop an immunity to germs or viruses. Vaccines mimic these germs and viruses. As a result, your…

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Profitable Business Ideas You Can Start at Home

For some of us, a 9-5 office job is just a means to an end, with being our own boss as the goal. This is why more and more people are either freelancing or starting their own businesses. In fact, 2% of the Filipino population are freelancers as of 2018.[1] Small enterprises also take up over 9% of the total businesses in the country. And since the pandemic started, the number of registered online businesses in the country also surged from 1,700 (in January to March 2020) to 75,000.[2]  Maybe it’s time for you to explore those home-based business ideas and start one today. Like any business, it can be challenging. You have to consider your skills, target market, and capital before starting a business. But if you want to jump-start your dream of becoming your own boss, you can start exploring some profitable home-based business ideas.  Table of ContentsWhat is a Home-Based Business?Why Should You Consider Having a Home-Based Business?1. No Need to Commute or Drive to Work2. Lower Startup Costs3. Lower Overhead4. Less Risky5. More Freedom and Flexibility 6. Do Something You Love7. Opportunity for Self-Discovery and Self-Growth8. Unlimited Income PotentialDisadvantages of Having a Home-Based Business1. Uncertain Income2. Reduced Benefits3. More Distractions 4. Can Interfere with Your Family Life 5. More Work What is the Best Home Business to Start?20 Profitable Home-Based Business Ideas in the Philippines1. Sari-Sari Store2. Merienda Business3. Online Selling4. E-loading Business5. Baking Business6. Online Tutoring7. Graphic Design Business8. Bills Payment Business9. Tailoring Services10. Digital Marketing Agency11. Homemade Products Business12. Rice Retailing or Bigasan13. Blogging14. Accessories Business15. Writing Services16….

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BPI Save-Up Account: Why You Should Start Saving Today

Life is full of surprises. You’ll never have an idea of what will happen next. When the unexpected happens, you need to make sure that your wallet and piggy bank are more than ready. This is a lesson that everyone has learned during the pandemic. This is why everyone should start saving up. Admittedly, it’s a chore at the beginning, especially if you have the mindset that you’re supposed to enjoy your hard-earned money. However, remember that you’re not only saving for a rainy day. You’re also saving up for your future—whether it’s for your dream business or your dream vacation. Fortunately, the Bank of the Philippine Islands (BPI) has made saving money much easier with the BPI Save-Up Account. There are many reasons you should open this account. Read on to learn more. Table of ContentsWhat is a BPI Save-Up Account?What are the Types of BPI Save-Up Account?BPI Save-Up Savings Account + InsuranceBPI Save-Up High Savings AccountWhy You Should Open a BPI Save-Up Savings Account1. Both Accounts Have Low Transfer Amount2. You Get Comprehensive Protection3. Monitoring is Easy4. No Initial Deposit Required5. It Helps Build the Habit of Saving6. Set How Much What You Want to Save7. You Won’t Get a Debit CardWhat are the BPI Save-Up Account Requirements?What are the Steps for Opening a BPI Save-Up Account?How to Open a BPI Save-Up Account OnlineHow to Open a Save-Up Account at a BPI BranchHow Can I Withdraw My BPI Save-Up Balance?Final Thoughts What is a BPI Save-Up Account? The BPI Save-Up Account is not your average savings account. It’s…

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How Much Money Do I Need to Get Married in the Philippines?

Just got engaged? The happiness and excitement will definitely build up from here until the big day. From picking the perfect wedding dress, visiting different churches, and doing ocular inspections for your wedding venue, it will be a happy kind of stress. But a wedding is a major expense that you and your future spouse will need to prepare for.   Before you start announcing your wedding and inviting everyone who sends their congratulations, you need to know how much your wedding is going to cost. It’s the most challenging yet most important part of wedding planning, especially since there are a lot of expenses involved. Not to mention that a typical wedding budget in the Philippines involves hundreds of thousands of pesos. There’s the venue, the wedding dress, the invitations, and a whole lot of other things that you and your partner will need to spend on for the big day. If you set your wedding budget from the get-go, you can eliminate suppliers or venues that charge beyond your budget and find better or more cost-effective alternatives.   How much does a wedding cost in the Philippines? Keep reading to learn how to plan for ut financially and find out what should be included in your wedding budget checklist.   Table of ContentsWhat to Do Before Planning Your WeddingChurch Wedding vs Civil Wedding: Which Do You Prefer?Prepare Your Marriage License and Other DocumentsHow to Get a Marriage License in the PhilippinesCivil Wedding in the Philippines: Requirements and CostCivil Wedding RequirementsAdditional Civil Wedding Requirements for ForeignersCivil Wedding Costs in the PhilippinesWho Can…

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Investing at a Young Age: Why Millennials and Gen Zs Should Start Now

You know how tree lovers would say that the best time to plant a tree is 20 years ago and the second best time to do it is right now? That also applies when it comes to growing your money. After all, money comes from trees. And since you’re probably in your 20’s or 30’s now, you should know how important investing at a young age is. After all, the best time to invest has already gone. Not convinced with that analogy? Then here are more reasons why millennials and Gen Z-ers should start dabbling with financial investments as early as now. Table of ContentsWhy You Should Start Investing at a Young AgeIt Will Educate You About Compound InterestIt Will Help Cultivate Good Money HabitsIt Will Help Build a Better Financial PortfolioIt Will Be a Lot Easier in the FutureIt Will Help You Retire Early and Enjoy It, TooFinal Thoughts Why You Should Start Investing at a Young Age It Will Educate You About Compound Interest Once you decide to learn more about investments, prepare to hear compound interest a lot. But what is it, exactly? Compound interest is accumulated interest from your initial deposit. Basically, you’re earning interest on top of the interest you already earned.  So if you invest PHP 20,000 now on a savings account with a 5% annual interest rate, compound interest will snowball your initial investment to PHP 25,525.63 after five years. You can save time computing for compound interest by using an online interest calculator[1]. And why should you learn this as early as…

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10 Steps to Starting an Online Business in the Philippines

Planning to make money at home by starting an online business? That’s a bold move you’re making, but guts alone will only take you so far.  That’s because many other things make a new business work. So many that they can easily overwhelm first-time entrepreneurs. It doesn’t help that 30% of startups fail[1] in their first two years. While the numbers may sound discouraging, they can also motivate aspiring small business owners to be careful and strategic in their every decision and action. The key to the success of your online business is starting it right. Make the process less overwhelming and more systematic. Here’s a comprehensive guide to starting an online business in the Philippines. Table of ContentsWhy You Should Start an Online Business Today Easy and Affordable to Set UpFlexible Work Hours and LocationAbility to Maximize ProfitsHow to Start an Online Business: 10 Steps for New EntrepreneursStep 1: Define and Understand Your Target MarketStep 2: Identify Your ProductStep 3: Determine Your Business Idea’s ProfitabilityStep 4: Write a Business PlanStep 5: Register Your Online BusinessStep 6: Set Up Your FinancesStep 7: Look For SuppliersStep 8: Establish Your Delivery MethodsStep 9: Build Your Business WebsiteStep 10: Create Your Social Media AccountsTips on Starting an Online Business in the Philippines1. Plan, Plan, Plan2. Manage Your Money 3. Track Everything4. Create Buzz for Your BusinessFinal ThoughtsRaise Funds for Your Business with a Personal Loan Why You Should Start an Online Business Today  Still on the fence about starting an online business? These reasons should convince you to start an online business today. Easy and…

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Planning to be a Parent? Here’s How Much You Might Spend on Raising a Child

The COVID-19 pandemic is currently fueling a lockdown baby boom due to limited access to birth control and more time for couples[1] to stay at home and be together. Last year, a study led by the University of the Philippines Population Institute (UPPI) and the United Nations Population Fund (UNFPA)[2] showed that the total unintended pregnancies in 2020 may reach 2.56 million, and that may even rise this year considering the continuous implementation of restrictions for travel and mass gatherings. Although the signs you’re ready to have a baby are clearly manifesting amid the lockdown, it still pays to know the real cost of raising a child in the Philippines, so you and your partner can prepare financially and ensure you’re providing for all your family’s needs. Note: The child-rearing costs in this article are just estimates to give parents in the Philippines an idea of how much they should budget every month to cover their child’s needs. The actual cost of raising a child varies from one household to another based on different factors. Table of ContentsCost of Raising a Child in the Philippines: What to Consider in Your BudgetHousing/Accommodation: PHP 5,000 to PHP 25,000Food: PHP 3,000 to PHP 10,000Clothing: PHP 2,000 – PHP 5,000Healthcare: PHP 5,000 and upEducation and Child Care: PHP 6,000 to PHP 15,000What is the Estimated Monthly Cost of Raising a Child in the Philippines?3 Tips on Preparing for Child Rearing Costs1. Start Saving2. Make Adjustments3. Review Your Insurance Coverage, Leave Benefits, and Government ContributionsFinal Thoughts Cost of Raising a Child in the Philippines: What…

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Cryptocurrency Basics: What You Need to Know Before Investing in Digital Currencies

Chances are, you’ve already heard the words “Bitcoin” and “cryptocurrency.” Maybe you’ve encountered them in your circle of investment-savvy friends or you while you’re reading finance articles online. At some point, you might have shown some interest in it, but you decided not to pursue the topic further, fearing that you’d get drowned in highly technical terms, jargons, and hard-to-understand topics fit for tech geeks. Over the years, cryptocurrency has been called a lot of things. Some consider it to be the money of tomorrow while others think of it as a risky and rather volatile asset. But with reputable companies like Tesla buying Bitcoin in large quantities,[1] the general public’s interest in cryptocurrency in the Philippines has skyrocketed in recent years. A lot have started to think that maybe the likes of Bitcoin are worthwhile and viable investments. But we highly advise you to hold your horses and arm yourself with knowledge before doing anything or putting your money in a cryptocurrency wallet in the Philippines. We’ve come up with a short yet informative guide that will give you a head start on cryptocurrencies. Table of ContentsWhat is Cryptocurrency?How Does Cryptocurrency Work?What are the Differences Between Bitcoin, Blockchain, and Cryptocurrency?Is Cryptocurrency Legal in the Philippines?What Happens When I Buy a Cryptocurrency?How are Cryptocurrencies Protected?What are the Advantages of Investing in Cryptocurrencies?Potentially Massive ReturnsGood for DiversificationHighly LiquidCan be Used Anytime, AnywhereWhat are the Risks of Investing in Cryptocurrencies?Market VolatilityYour Wallet Can Still be HackedCryptocurrency in the Philippines: What are the Options for Investment?BitcoinEtherXRPLitecoinDogecoinWhere Can I Get Cryptocurrency?Final Thoughts What is…

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Make Money Online: How to be a Shopee or Lazada Online Seller

 Shopee and Lazada are two of the leading e-commerce websites in the Philippines and Southeast Asia—not just for consumers but also for business-minded Filipinos who want to make money online.  These platforms for online sellers are beginner-friendly. Lazada and Shopee don’t charge new online sellers a registration fee. And for as low as PHP 10,000, you can start selling and earning profits. You just need a computer or smartphone, internet connection, and, of course, your products to sell and a bank account to receive payments.  It also doesn’t matter if you’re in Manila, in the province, or even abroad. You can run your shop anytime and anywhere while reaching customers all over the Philippines. What’s more, starting as an online seller on Lazada or Shopee is simple even for newbies.  Interested in starting your online business soon? Here’s a guide on how to become an online seller, specifically how to be a Lazada or Shopee seller. Table of ContentsLazada vs Shopee: Which is the Better Online Selling Platform in the Philippines?How to be a Lazada Online SellerLazada Online Seller TypesLazada Online Seller RequirementsHow to Start as a Lazada Online SellerLazada Seller Fees How to be a Shopee Online SellerShopee Online Seller TypesShopee Online Seller RequirementsHow to Become a Seller in Shopee Shopee Seller Fees Lazada or Shopee Seller FAQs 1. What perks can you receive as a new Lazada seller? 2. How long before my Lazada seller application gets approved?3. I just received my first order on Lazada. How long do I have to process this order?4. How do you sell digital goods on Lazada?5. What’s…

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Crowdfunding 101: How It Can Help Finance Your Business

Got a potentially game-changing business idea? If so, the excitement that comes with the dream where you’re gracing the cover of Forbes magazine might be killing you right now. But if you stay on the realistic side, you know that you’ll need this one important thing for your business to happen: funding. Whether it’s an ambitious start-up or a humble small business, you know too well that money is the fuel that will make your ship move. Of course, there are many ways to raise funds. You can go to the bank, bootstrap by using your retirement money or life savings, or find an angel investor.[1] But with the advancements in financial technology and communications, an aspiring businessperson can easily access funds through crowdfunding. This may be a relatively new idea for many, and in case you’ve already heard of it, you may want to know more about it. We’ve come up with a comprehensive guide that will help you understand how crowdfunding in the Philippines works. Table of ContentsWhat is Crowdfunding?What are the Benefits of Crowdfunding?Efficiently Acquire FundsBuild New RelationshipsPromote Your BusinessEasy to Convince InvestorsGet Valuable FeedbackIs Crowdfunding Legal in the Philippines?What are the Top Crowdfunding Sites in the Philippines?InvestreeThe Spark ProjectCropitalIndiegogoGoGetFundingKickstarterTips to Remember Before You Start Crowdfunding in the Philippines1. Research Different Platforms and List Down the Pros and Cons2. Write a Convincing Pitch3. Consider Integrating a Video4. Check Your Analytics5. Be Transparent with Your BackersFinal Thoughts What is Crowdfunding? Crowdfunding is a financing method where you take small amounts of money from a large number of people,…

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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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[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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How to Use GCash: A Handy Guide for New GCash App Users

Turn your smartphone into a virtual wallet—that’s what using the GCash app is all about. A mobile payment innovation in the Philippines, GCash has revolutionized the way people make financial transactions. With just a few taps on a smartphone, Globe and TM subscribers can quickly send and receive money, pay bills, and make other transactions anytime and anywhere. All GCash services are free, except for cash out and card application and withdrawal. For non-tech savvy beginners, learning how to use GCash can be quite challenging and even frustrating. Let this comprehensive guide help you familiarize yourself with this app. Table of ContentsHow to Make a GCash AccountDownload the GCash AppRegistration Steps via the GCash AppRegistration Steps via the GCash websiteRegistration Steps via the *143# MenuRegistration Steps via MessengerHow to Verify GCashSteps to Account VerificationHow to Load Your GCash WalletHow to Link Your Bank AccountHow to Cash-In via Mastercard or VisaHow to Cash-In via Partner BanksHow to Cash-In via RemittanceHow to Cash-In via PayPalHow to Cash-In via 7-Eleven and other Authorized OutletsHow to Get a GCash CardApplication via GCashApplication via OnlineApplication via OutletsHow to Withdraw MoneyCash-Out via GCash MastercardCash-Out via GCash AppCash-Out via GCash OutletHow to Send Money to GCashHow to Pay Bills with GCashHow to Use GCash QR for ShoppingHow to Shop via GCash QRHow to Buy Load via GCashGCash Fees to Take Note ofBills PaymentCash-in via Online BankingOver-the-Counter Cash-inCash-in via RemittanceFrequently Asked Questions1. How do I convert my Globe Points to GCash?2. How to load Cignal using GCash?Final Thoughts How to Make a GCash Account Before you can start…

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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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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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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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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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