All Articles With Category : Personal Finance

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

Build Financial Freedom: How to Start an Emergency Fund

By now, you already know the importance of setting aside money for your savings. But what about an emergency fund? Aside from saving for the far future, it’s also advisable to save money for emergencies in the near future. You might end up with a medical emergency or you might end up losing your job. It’s always best to prepare your wallet for the worst. The general rule of thumb for building an emergency fund in the Philippines is to save an amount equivalent to your salary for three to six months[1]. That should cover medical fees, car repairs, daily expenses brought by unemployment, and other emergency situations. And before you ask, buying new clothes or gadgets doesn’t count as an emergency. Admittedly, it’s going to leave yet another dent to your wallet, but you’ll be getting financial security in exchange. If you didn’t know about this type of savings fund, you’re not alone. More importantly, it’s not too late to build one. Get started with your own rainy day fund with these helpful tips. Table of ContentsHow to Start an Emergency Fund in 5 WaysAdjust Your Monthly BudgetAim for a Lower Initial AmountCultivate a Culture of SavingDon’t Pressure YourselfAvoid Spending ItDo You Really Need An Emergency Fund?Final Thoughts How to Start an Emergency Fund in 5 Ways Adjust Your Monthly Budget As mundane as it is, creating a budget is always an essential step in making any financial decision. If you haven’t already, start the culture of creating a budget every month to help you manage your money better….

Read More

List of Pawnshops in the Philippines

Emergencies happen—and sometimes, they can soil your pockets. While banks and other financial institutions offer various loans that can help you fund an emergency expense, it can take days or even weeks before your application is processed. Pawnshops in the Philippines allow you to borrow money using your jewelry, gadgets, vehicles, or appliances as collateral. The application is straightforward—you may only need a valid ID and your collateral for a pawn loan. The process is also quick, and you can get your loan amount within hours. Pawning your personal belongings isn’t the best way to fund an emergency expense but they might be helpful when you are desperately in need. For your reference, here is a list of pawnshops in the Philippines and their monthly interest rates, payment terms, and other services they offer: Table of ContentsPawnshops in the Philippines1. Cebuana Lhuillier2. Palawan Pawnshop3. Villarica Pawnshop4. M Lhuillier5. Tambunting Pawnshop6. Raquel Pawnshop7. RD Pawnshop8. N-CA$H9. Jerome’s Pawnshop10. CVM Pawnshop11. Dalton Pawnshop and Jewelry12. PawnHero13. M. B. Aguirre Pawnshop14. Gemmary Pawnshop and Jewelry15. Agencia Zee16. Capital Pawnshop17. JARO Pawnshop18. Ros-Ver Pag-Asa Pawnshop19. PTS Gadget PawnshopFinal Thoughts Pawnshops in the Philippines 1. Cebuana Lhuillier Apart from pawning or sangla, Cebuana Lhullier offers remittance services and microinsurance to its customers. Website: www.cebuanalhuillier.com Location: Nationwide Services offered: Pawning Microinsurance Micro loans Remittance Basic requirements: Valid ID Collateral guarantee (gold, diamond, or platinum jewelry and watches, cellphones, or laptops) Loan term: Up to four months Interest rates and other charges: Advance interest charge of PHP 4 for every PHP 100 loan amount Service charge of…

Read More

What Is Microinsurance? Do I Need it?

Despite the numerous insurance providers and products in the market, only 16% of upper- and middle-income Filipinos have an insurance policy in place as of 2018[1]. Premiums can set you back thousands of pesos, making insurance financially unattainable for low-income households, individuals, and small businesses. To fill in this gap, the government and the private sector are encouraging people to get microinsurance instead—but what is it exactly? Let’s explore this type of insurance and its importance in the Philippines. Table of ContentsWhat is Microinsurance?Common Types of MicroinsuranceLife InsuranceAccident InsuranceProperty InsurancePersonal Property Insurance for Small BusinessesMicroinsurance Companies in the PhilippinesAFP General Insurance CorporationBIMA PhilippinesCebuana LhullierCARD MBA, Inc.CARD PioneerCLIMBS LifeCocolifeCountry Bankers Insurance CorporationMicroEnsurePioneer InsuranceMicroinsurance vs Traditional InsuranceBenefits of Having MicroinsuranceWhy is Microinsurance Important in the Philippines?Who Should Get This Type of Insurance?Final Thoughts What is Microinsurance? Microinsurance offers coverage to low-income households or anyone with little savings. This type of insurance caters to lower-valued assets. Such products are low cost because individuals who purchase them essentially have low-net worth. In the Philippines, you can get microinsurance with lower premiums as compared to traditional insurance products in the market. However, take note that the coverage value is also lower than regular insurance plans. Microinsurance premiums cannot go higher than 7% of the current daily wage, ensuring that the policy is affordable for most Filipinos. The rates and benefits of policies can only amount up to 500 times the current daily minimum wage. For example, for a daily minimum wage of PHP 500, the maximum coverage is PHP 250,000. Microinsurance policies have minimal documentary…

Read More

15 Profitable Business Ideas You Can Start at Home

For some of us, a nine-to-five office job is just a means to an end, with being our own boss as the goal. More and more people are working freelance and starting their own businesses. In fact, as of 2018, 2% of the Filipino population are freelancers[1]. Small enterprises also take up over 9% of the total businesses in the country. This number is greater if you factor in those who use social media as an e-commerce avenue. Owning a small business, especially one that you run at the comfort of your home, can be quite challenging. You have to consider your skills, capital, and target market before starting a business. To get a jumpstart on your dream of being your own boss, here are 15 profitable business ideas you can start at home: Table of ContentsProfitable Business Ideas to Start at Home1. 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 ServicesFinal Thoughts Profitable Business Ideas to Start at Home 1. Sari-Sari Store Starting Capital: PHP 3,000 to PHP 5,000 Opening a sari-sari store isn’t a brand new business idea. This quaint shop that sells almost everything—from laundry detergents to favorite snacks—has been part of our daily lives for a long time. It’s one of the most profitable business ideas to consider if you have the space for a small store in your home. For only a few thousand pesos, you can have your…

Read More

Your Ultimate Guide to Buying a Brand New Car in the Philippines

Purchasing a brand new car can be both an exciting and expensive adventure. As more people are experiencing an increase in their income and auto loans are becoming easier to acquire, it’s no surprise that the automotive industry is on an upswing. While a decent used car can get you to point A to point B without any problem, a brand new car has added features that can protect you a lot better when you’re on the road. A new car isn’t just a luxury, but an investment in the long run. Let’s see some of the benefits of getting a brand new car and tips you can consider when you’re shopping for a new ride. Table of ContentsBenefits of Buying a Brand New CarValue for moneyFreedom of choiceNew featuresWarranty coverageImproved safetyCustomizablePeace of mindFinancingFactors to Consider When Buying A Brand New CarFuel efficiencyPower and performanceSafety systemsWarrantyBrandCost of ownershipResale value10 Tips When Buying A Brand New Car1. Do your research2. Buy a car you can afford3. Compare4. Forego the add-ons5. Get a pre-approval6. Shop around7. Bring someone with you8. Test drive9. Focus on the price10. Seal the dealFinal Thoughts Benefits of Buying a Brand New Car Purchasing a car can be one of the hardest decisions you’ll have to make. Here are the reasons why it’s beneficial: Value for money A brand new car costs more compared to a used one. However, you’re sure that the unit is in tip-top shape. Car dealers ensure that the car you’re getting is flawless and has no hidden issue. You may be spending a…

Read More

Complete Guide to Investing in Mutual Funds in the Philippines

Mutual funds investing is a beginner-friendly way to grow your money over time. A fund manager will help you manage your investment portfolio and make decisions on your behalf. However, is this investment path for you? To decide if it’s worth the investment, you must first understand what mutual funds in the Philippines are, how they work, and how you can earn profits from them. We’re breaking down the basics for you. Keep on reading to get a head start on mutual funds investing in the Philippines. Table of ContentsWhat are Mutual Funds and How Do They Work? Mutual Funds vs UITFHow Can I Earn Money from Mutual Fund Investing?Types of Mutual Funds in the PhilippinesBond FundsEquity FundsMoney market fundsBalanced fundsPros and Cons of Investing in Mutual Funds in the PhilippinesMutual Funds AdvantagesMutual Funds DisadvantagesList of Mutual Funds Companies in the PhilippinesHow to Invest in Mutual Funds in the Philippines1. Evaluate your goals2. Choose the right company that fits your needs3. Talk to your agent4. Pick the best type of mutual fund for you5. Submit the requirements6. Track your investmentFinal Thoughts What are Mutual Funds and How Do They Work? Mutual funds are professionally managed bonds, stocks, and other investment products. It is made up of a pool of money collected from various investors. The money is then used to invest in different assets. A fund manager manages mutual funds for the investors. He or she allocates the fund’s assets and tries to produce capital gains or income for the mutual fund investors. If you’re an individual investor, you can…

Read More

Complete Guide to Opening a BPI Jumpstart Savings Account

Saving is a good virtue that you can instill in your child, even at an early age. After all, it’s a parent’s responsibility to teach their children the importance of saving money. One way you can do this is by opening a kiddie savings account for them. One of the best savings accounts for kids in the Philippines is the BPI Jumpstart Savings Account as it lets you transfer your kid’s allowance on a scheduled basis. Keep on reading to know more about this kiddie savings account and how you can open one for your kid. Table of ContentsImportance of Financial Literacy for KidsBenefits of Opening a Kiddie Savings AccountWhat is a BPI Jumpstart Savings Account?BPI Jumpstart FeaturesBPI Jumpstart Partner Merchants BPI Jumpstart Savings Account Card DesignsBPI Jumpstart Minimum Maintaining BalanceBPI Jumpstart RequirementsSteps to Opening a BPI Jumpstart Savings AccountFinal Thoughts Importance of Financial Literacy for Kids Every parent wants their kids to flourish and enjoy a healthy financial lifestyle in the future. However, being smart with money isn’t necessarily taught at school. It is up to you to provide your kid’s financial education in a way that they can understand. Without a basic knowledge of spending and saving, it’s easy to make financial decisions that can jeopardize the future. Therefore, it is important to teach kids smart money habits sooner rather than later. Here are other reasons why teaching your financial independence to children is important: They will be able to make sound financial decisions when they are older. To be be more business-savvy in the future. Have the…

Read More

ATM Service Fees Cardholders Need to Know

Every day, millions of Filipinos use an ATM to access their savings and checking accounts. With a debit card, or ATM card as most people call it, account holders can withdraw money, check their account balance, and even transfer money to other bank users. All of these activities can be done in a few clicks, making electronic banking more convenient to the public. ATM service fees are comparative and vary from bank to bank. Charges also differ for every transaction. Balance inquiries are typically cheaper than withdrawal transactions as they are deemed simpler compared to the latter. Table of ContentsWhat is an ATM?Electronic Banking in the PhilippinesBancnetMegalinkExpressnetATM Service Fees in the PhilippinesATM Balance Inquiry FeesATM Withdrawal Fees (When Using a Different ATM)Intrabank Transfer FeesInterbank Transfer FeesBelow Maintaining Balance ChargesDormancy FeesATM Withdrawal Limit in the PhilippinesFinal Thoughts What is an ATM? An Automated Teller Machine or ATM is an electronic banking outlet that offers quick self-service options to cardholders. Electronic banking allows customers to complete transactions without going to the bank. ATMs are convenient as you don’t have to wait in line at the bank to withdraw funds or know how much money you still have in your account. Today, there are over 3.5 million ATMs in use across the globe [1]. Electronic Banking in the Philippines Before we discuss ATM service fees in the country, let us first identify the networks that provide online facilities to banking corporations and debit cardholders in the Philippines. At present, there are three major bank consortia namely Bancnet, Megalink, and Expressnet. Bancnet Bancnet is…

Read More

How to Pick Stocks in PSE: Helpful Tips for Beginners

Investing in stocks from the Philippine Stock Market (PSE) can help you achieve your financial goals more quickly. It may allow you to beat inflation and save money at a faster rate. However, you should never invest your money blindly. If you purchase stocks “just because” and not knowing why you’re buying them, then perhaps it’s time to rethink your strategy. To avoid falling for traps and losing your hard-earned money, you should determine how to pick stocks that fit your financial goals. Let’s explore how you can pick stocks in PSE for both day trading and long-term investment. Table of ContentsDay Trading versus Long-Term Investment What is Day Trading?What is Stock Investing?How to Pick Stocks For Day Trading1. Check stocks with high liquidity2. Pay attention to trading volume3. Keep track of volatility4. Follow the trend5. Use trendline6. Learn when to take regular profit7. Manage your risks8. Do your researchHow to Pick Stocks For Long-Term Investment1. Do your homework2. Keep an eye on the fundamentals3. Purchase stocks from stable companies4. Choose an industry you’re familiar with5. Invest when the market is down6. Also manage your risksFinal Thoughts Day Trading versus Long-Term Investment Day trading and long-term investment are two different approaches. However, they both have the same end goal—making a profit from the stock market. In general, day traders take advantage of both rising and falling markets to enter and exit positions over a shorter time frame, taking smaller, more frequent profits[1]. While investors aim to get larger returns over an extended period of time. Take a closer look at…

Read More

25 Top Commercial Banks in the Philippines

Do you need to open a savings account for safekeeping? Or do you need a personal loan to finance a big-ticket expense? Or perhaps you want a credit card? A commercial bank can help you with these needs. Commercial banks are the typical banks we see every day. It is basically where we do most of our banking. Keep on reading to learn more about commercial banks and the type of products and services they offer. Table of ContentsWhat is a Commercial Bank?Commercial Banks vs Investment Banks: What are the Differences?Commercial Bank Products and Services1. Deposit banking2. Credit cards3. Loan services4. Treasury management5. Insurance6. Wealth management25 Top Commercial Banks in the Philippines 1. AUB2. Bank of Commerce3. BDO Unibank4. BPI5. Chinabank6. CIMB Bank7. Citibank8. Development Bank of the Philippines9. Deutsche Bank10. EastWest Bank11. HSBC12. ING Philippines13. Land Bank of the Philippines14. Maybank15. Metrobank16. PBCom17. PhilTrust Bank18. Philippine Veterans Bank19. PNB20. RCBC21. Robinsons Bank Corporation22. Security Bank23. Standard Chartered Bank24. UnionBank25. UCPBFinal Thoughts What is a Commercial Bank? A commercial bank is a type of financial institution where most people do their banking. Commercial banks are financial institutions that accept deposits, offer checking account services, and make various loans[1]. They also have products like savings accounts for individuals and small businesses as well as certificates of deposit (CDs). These banks profit from the loans they provide consumers, earning an interest income. The loans commercial banks offer may vary but may include home loans, car loans, and personal loans. The capital used for these loans is sourced through customer deposits like checking…

Read More

Condo vs House: Which Is a Better Buy?

“A condo or house? Which property should I buy?” Welcome to the world of adulting—where making life choices involves something more crucial than your milk tea order. This time, you’re making a serious buying decision between a condo vs house. So that you won’t regret your purchase several years down the line, carefully consider the pros and cons of each option. Look beyond the price tag, as many factors will affect your home purchase. Table of ContentsPros and Cons of Buying a Condo in the PhilippinesAdvantages of Buying a CondominiumDisadvantages of Buying a CondominiumPros and Cons of Buying a House in the PhilippinesAdvantages of Buying a House and LotDisadvantages of Buying a House and LotCondo vs House: 3 Factors to Consider When Choosing a Property1. Your Budget2. Location3. Your Lifestyle and StatusWho should buy a condo:Who should buy a house:Final Thoughts: Should I Buy a House or Condo? Pros and Cons of Buying a Condo in the Philippines Advantages of Buying a Condominium 1. More Affordable Than a House and Lot Condominiums are generally less expensive than houses and lots in the same area, particularly in prime locations. The exceptions, of course, are upscale condos in business districts like BGC and Rockwell. For houses in Metro Manila, the median list price is PHP 14.5 million, which is more than double the median list price of condos in the metro (PHP 5.9 million)[1]. Houses cost higher than condos because they occupy larger spaces. If you take a closer look at prices per square meter (sqm), these are lower for houses than…

Read More

25 Small Business Ideas You Can Start With Low Capital

Because of social media and the changing interests of consumers, demand for products and services continues to grow. Filipinos are more open to new brands and establishments, allowing the business industry to flourish more quickly. You can be your own boss and grow your finances by starting your own venture. Here are 25 small business ideas you can set up even with low capital. Table of ContentsSmall Business Ideas with Small Capital in the Philippines1. Beauty Products Reselling Business2. Bicycle Shop Business3. Bills Payment Business4. Cake and Pastry Business5. Car Wash6. Cellphone Loading Business7. Delivery/Courier Services Business8. Food Cart Franchise9. Graphic Design and Video Editing Business10. Hair and Grooming Home Services11. Home-Cooked Meals 12. Homemade Beverage or Palamig Business13. Home Cleaning and Repair Services14. Laundry Shop Business15. Local Grocery Store Business16. Meal Plan and Delivery17. Online Fashion Boutique18. Online Tutoring Business19. Personal Shopping Services 20. Pest Control Services 21. Piso Wi-Fi Vending Machine22. T-Shirt Printing Business23. Vlogging24. Water Refilling Station25. Web Design BusinessFinal Thoughts Small Business Ideas with Small Capital in the Philippines 1. Beauty Products Reselling Business Start-up cost: PHP 5,000 to PHP 20,000 Items to invest in: Beauty products for reselling, smart phone The country’s beauty industry is worth a whooping PHP 152 billion and is expected to reach PHP 213 billion by 2023[1]. If you’re a beauty enthusiast but don’t have a huge capital to start your own brand, you can resell beauty products instead. With a budget of PHP 5,000, you can start reselling products from more popular brands like Skin Magical, Human Heart Nature, Avon,…

Read More

Everything You Need to Know About Non-Life Insurance in the Philippines

We face uncertainties every day. Sometimes, they even set us back financially. An unexpected hospital bill, property loss, or car accident can soil your savings and ruin plans you already have. An insurance policy, such as non-life insurance, can help minimize the financial damages these mishaps can do. Non-life insurance protects you and your valuables from damages and losses. It can also cover you from legal liabilities. Keep on reading to know more about this type of insurance, its benefits, and which insurance companies in the Philippines offer non-life insurance policies. Table of ContentsWhat is Non-Life Insurance?Life Insurance vs Non-Life InsuranceTypes of Non-Life Insurance Productsa. Auto insuranceb. Aviation insurancec. Business insuranced. Engineering insurancee. Health insurancef. Home insuranceg. Marine insuranceh. Travel insuranceBenefits of Non-Life InsuranceHow to Choose a Non-Life Insurance That Suits YouTop 10 Non-Life Insurance Companies in the Philippines1. AIG2. Alpha Insurance and Surety Company3. Charter Ping An4. Commonwealth Insurance Company5. Malayan Insurance Company6. Paramount Life and General Insurance7. Pioneer Insurance Safety Corporation8. Prudential Guarantee9. Standard Insurance10. Stronghold InsuranceFinal Thoughts What is Non-Life Insurance? Non-life insurance is a type of insurance covering people, property, or legal liability[1]. Also known as general insurance, it is a policy that can provide you with compensation for losses caused by certain financial events. Your insurance company will pay to cover some or all of your losses based on your coverage. The coverage period for this type of policy is usually one year, with the premiums paid on a one-time basis. How much you have to pay for non-life insurance depends on your policy coverage…

Read More

When Is the Best Time to Buy Stocks? A Cheat Sheet for Beginners

More Filipinos are trying their hands in trading, with stock market accounts increasing by 61% in 2018[1]. While stocks aren’t guaranteed, it gives investors the chance to grow their money at a rate that other investments cannot. However, trading is not a walk in the park as market volatility can intimidate both newbie and seasoned traders. If you’re not careful, you may experience losses even before you make your first buck. Before entering the market, you need to learn the basic principles and keep practicing and investing. You should also know when to buy stocks which can help produce a profitable result. Table of ContentsWhen is the best time to buy stocks?Best time of day to buy stocks: During opening hourBest day to buy stocks: Monday Best months to buy stocks: January, August, September, and DecemberOther periods when buying stocks make senseFactors to consider when buying stocksFinal Thoughts When is the best time to buy stocks? The answer is when stocks reach low points. It is where the market timing comes into play. Past performance doesn’t guarantee future performance. However, always remember the cycle. Past performance may be an indicator of future performance. Best time of day to buy stocks: During opening hour The opening hours represent the window in which the market factors in all the events and news releases since the previous closing bell, which contributes to price volatility[2]. For an expert trader, the first 15 minutes of the day is prime time. It can offer some of the best trades of the day based on initial trends….

Read More

How to Register Your Online Business and Pay Taxes to BIR

Online businesses are booming in the Philippines, as more Filipinos have turned to online selling after losing their jobs during the COVID-19 crisis. If you’re one of those financially struggling Pinoys trying to make a living through the internet, you’re likely to be worried about the recent BIR order requiring online sellers to register and pay taxes to the government. Online business registration and tax payment are mandated by the law, so online sellers and everyone making money online are expected to comply. Reduce your worries by knowing how to do these right. Here’s everything you need to know and do, from how to register your online business to how to pay your taxes to the BIR. Table of ContentsDo I Need to Register My Online Business in the Philippines?Benefits of Online Business Registration1. Increase Your Customers2. Qualify for Business Loans3. Receive Government AssistanceHow to Register Your Online Selling BusinessDTI Online Business RegistrationBIR Online Business RegistrationHow to File Your Income Tax ReturnDeadlines for filing ITRHow to Pay Tax for Online Business in the PhilippinesFinal Thoughts Do I Need to Register My Online Business in the Philippines? According to the Revenue Memorandum Circular No. 60-2020[1], the BIR requires registration for “all persons doing business and earning income in any manner or form, specifically those who are into digital transactions through the use of any electronic platforms and media, and other digital means.” However, days after issuing the order, the government clarified that not all kinds of online sellers are required to register. Exempted from the DTI and BIR registration are those selling products “intermittently or irregularly” and those…

Read More

Top Online Jobs in the Philippines You Should Consider

Are you tired of traveling for hours to and from your office? Do you think that the 9-5 lifestyle is not for you? Do you want to spend more time on your hobbies and with your loved ones? If you answer yes to all of these, an online job is your best bet especially now that we’re advised to stay home because of the pandemic. Contrary to popular belief, you can earn decent money with a full time online job. Some high-paying jobs are also not hard to come by. Just like a traditional office position, an online job may require you to have the relevant experience, skills, and degree. Keep on reading to learn the pros and cons of this work set up and explore some of the best online jobs in the Philippines. Read More: How to Financially Recover from Unemployment in the Philippines Table of ContentsWhy Should I Consider an Online Job?Advantages of Having an Online JobDisadvantages of Having an Online Job20 Online Jobs in the Philippines1. Computer Programmer2. Content Writer3. Data Entry Encoder4. Data Researcher5. Digital Marketing Specialist6. Graphic Designer7. HR Officer8. Instructional Designer9. Online ESL Tutor10. Search Engine Evaluator11. Social Media Manager12. SEO Specialist13. Software Engineer14. Technical Support Representative15. Telemarketer16. Transcriptionist17. Video Editor18. Virtual Accountant19. Virtual Assistant20. Web DesignerFinal Thoughts Why Should I Consider an Online Job? An online job offers many perks that can help you achieve work and life balance. See and weigh the advantages and disadvantages below. Advantages of Having an Online Job You don’t need to commute. Filipinos spend about 16 days a…

Read More

Reopening Your Business? Guidelines and Tips for Resuming Your Operations

Business reopening in more industries has now been allowed along with the gradual relaxing of quarantine restrictions in the Philippines. Getting back to business after a long lockdown-induced hiatus? “Business as usual” has taken on a whole new meaning during the COVID-19 pandemic. Essentially, it now means observing government-mandated minimum health protocols and doing your part in containing the spread of coronavirus in your community. How do you restart your business in the new normal? Here are the guidelines business owners should follow, plus a few tips on resuming your operations. Table of ContentsIATF Business Reopening Guidelines Businesses Authorized to Reopen Under QuarantineMinimum Health Standards for Reopening a BusinessLGU Business Reopening Guidelines6 Tips for Reopening Your Business After Lockdown1. Apply for Government Assistance2. Announce Your Business Reopening3. Be Ready to Do More with Less4. Boost Safety in Your Place of Business5. Inform Customers About Your Health Protocols6. Provide Customers with More OptionsFinal Thoughts IATF Business Reopening Guidelines  Businesses Authorized to Reopen Under Quarantine Your business may be allowed to fully or partially operate depending on its nature and whether you’re located in an area under the enhanced community quarantine (ECQ), modified enhanced community quarantine (MECQ), general community quarantine (GCQ), or modified general community quarantine (MGCQ). Before you reopen your business, make sure it’s allowed by the government to operate. Check the DTI guidelines on business reopening under community quarantine[1] for the complete list of industries allowed to resume operations under different quarantine levels. Business Reopening Guidelines for Restaurants The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) has authorized food establishments…

Read More

7-11 CLiQQ App Guide: Pay Your Bills and Send Money Anytime

You’re probably familiar with the 7-11 CLiQQ kiosk found in 7-Eleven stores nationwide. You might have even used one to pay bills or buy load. But have you ever heard about the 7-11 CLiQQ app? If not, here’s something that would make you interested in it: 7-Eleven says that everything its CLiQQ machine can do, the mobile app can do better. To find that out, try using the app if it’s suitable for your needs. For beginners, here’s a simple guide to using the 7-Eleven CLiQQ app for financial transactions in the Philippines. Table of ContentsWhat is 7-11 CLiQQ App?7-11 CLiQQ Account ActivationHow to Activate Your 7-11 CLiQQ Account7-11 CLiQQ PAY WalletHow to Activate Your 7-11 CLiQQ PAY WalletHow to Load Your 7-11 CLiQQ WalletHow to Use CLiQQ App in 7-Eleven for In-Store Purchase7-11 CLiQQ Bills PaymentHow to Pay Your Bills Using  7-11 CLiQQ App7-11 CLiQQ Money TransferHow to Send Money to GCash or PayMaya Using CLiQQ AppHow to Send Money via Palawan Express Using CLiQQ AppFinal Thoughts What is 7-11 CLiQQ App? The CLiQQ app is 7-Eleven Philippines’ mobile app that allows users to generate barcodes for payment, rewards redemption, and Wi-Fi access at 7-Eleven stores nationwide. The 7-11 CLiQQ app has three main features: CLiQQ PAY – 7-Eleven’s mobile wallet for fast, convenient, and cashless payments for in-store and online purchases, bills, and money transfers CLiQQ Rewards – 7-Eleven’s loyalty rewards program for earning and redeeming points CLiQQ WiFi – Provides internet access to users at all 7-Eleven stores In this guide, we will be focusing on the…

Read More

How Contactless Payments Work and How It Can Help Us Today

Most Filipinos use cash for transactions, but more people are now embracing contactless payment. Almost eight of 10 Filipinos plan on using their cards for payments instead of cash, according to data from the 2018 Visa Consumer Payment Attitude Study[1]. The COVID-19 outbreak has also made establishments switch to contactless payments. Because this method doesn’t require entering a PIN or using a pen for signature, physical contact is minimal. Contactless payments are not new but are becoming more significant in the world we live in. Keep on reading to know how this payment option works, why it’s important today, and what contactless payment options you can use for products and services in the Philippines. Table of ContentsWhat Is Contactless Payment?How Do Contactless Payments Work?The Importance of Contactless Payments TodayAdvantages and Disadvantages of Contactless PaymentsAdvantagesDisadvantagesContactless Payment Options in the PhilippinesContactless CardsContactless Payment AppsFinal Thoughts What Is Contactless Payment? Contactless payment is a type of payment available in credit cards and debit cards. With this method, you can pay for services and goods by simply holding the card near a payment terminal or a Radio Frequency Identification (RFID) reader. Such terminals process the payment through a chip card. This payment method has been around since the 1990s, with only a few establishments using the technology during that time[2]. Nowadays, more merchants and retailers offer contactless payment for their customers around the world. Other contactless payment solutions that are becoming more widely used are digital wallets such as GCash, PayMaya, and GrabPay. These options require using a mobile app to pay for products…

Read More

What Your Credit Report is Saying About You

You know those online quizzes where you answer a bunch of questions and you end up with a fictional character that will apparently say a lot about you? The adult version of that is a credit report. Your credit report takeaways will say more about you than your social media profile, your career achievements, and even other people’s perceptions combined. Why? It’s because a credit report contains information that will determine how good you are in “adulting.” And unlike online quizzes, the results are more accurate and the data is more grounded. Also, there are no fun questions to answer, but the result will definitely affect the quality of your life in a huge way. Table of ContentsWhat Your Credit Report Says About YouCredit Report Takeaways to ExpectHow Good You Are with MoneyHow Professional You Can BeHow Financially Free You AreHow Big a Liability You AreYour Capability to Start a FamilyFinal Thoughts What Your Credit Report Says About You Simply put, a credit report is a document containing all your credit history, which includes your past, current, paid, and unpaid debt records. The Credit Information Corporation[1], among other credit bureaus in the Philippines, collects your personal and/or business accounts, loan accounts, credit card accounts, and installment contracts that will reflect both positive and negative data. They will then compile it into a report, give you a credit score based on your report, and send it to the financial establishment where you’re applying for a loan, insurance, or credit card. And just like online quizzes, you’ll eventually find out more about…

Read More