Financial Tips for OFWs During the Holiday Season

With Christmas less than two weeks away, more and more of our kababayans are coming home to spend the holidays with their families. After living and working abroad with little to no family with them, returning home for the holidays is a much-awaited homecoming for overseas Filipino workers (OFWs). From balikbayan boxes filled to the brim and nightly reunions, the Christmas holidays is a grand celebrations for OFWs, and an expensive one. OFWs want to make the most out of their short Christmas vacation. This usually means eating out regularly and going on a shopping frenzy. Besides, the costs of items and food in the Philippines are much cheaper than their prices abroad. Going out is no big deal. That is until the vacation is over, and it’s back to working abroad because of the little money that’s left after the holidays. Moneymax.ph talked to Burn Gutierrez, who used to work as an OFW for a couple of years before going back home of the Philippines. He’s the founder of the personal finance website Rock to Riches[1]! Here are his 10 financial tips for OFWs during the holiday season: Table of ContentsDifferentiate needs from wantsHave a long-term mindsetGive presents that appreciate in valueHave a Christmas budget before coming homeHave just one Christmas celebrationLead by exampleLimit gift-giving to immediate family membersLearn to say ‘no’Leave credit or debit cards at homeManage local accountsStart the New Year Right Differentiate needs from wants “OFWs must learn how to compare and to distinguish the difference between needs and wants so that they will not get…

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9 Holiday Shopping Tips for Very Busy People

Whether you’re buying gifts for family, friends, or the big office gift exchange, you want the gift to leave a lasting impression on the person. The problem is that you tend to get really busy, leaving little to no time to get the perfect present. You might argue that it’s the thought that counts, but there’s a difference between a small – but well thought out – present, and one you got on the fly. Nobody ever says no to a gift, even when they don’t like it, but a plain gift might just get re-gifted because you couldn’t spare the time to get a proper present. Here are a few holiday shopping tips for busy people: Table of ContentsFriends or family?Be attentiveBe practicalPlan aheadTry something newBe creativeCheck onlineOne safe gift idea: EdiblesWhen all else fails, just ask. Friends or family? Your gift-giving thought process tends to vary when you’re shopping for specific people in your life. A present that’s well-received between close friends may not be as successful among members of your immediate family. Take personal preferences, good taste, yearly traditions, everyday habits, and inside jokes into consideration when doing your shopping. This can help you narrow down which gift ideas may or may not work. Be attentive The best gifts are the ones with a personal touch, showing that you’ve put considerable thought into what your recipient might enjoy. Has your little sister developed a craving for red velvet cupcakes? Is there a classic novel your best friend has been eyeing every time you go to the bookstore?…

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Best Performing Mutual Funds and UITFs

When it comes to investing, there are plenty of ways to start. An investment you make will help you accumulate wealth, and is the second source of income. To start investing, there is the matter of learning your risk appetite and knowing what you’re getting into. You can start investing for as low as Php 5,000, and scale up as you learn more about investing and learning more about the way investments generally work. One other thing you’ll want to look out for when you venture into investing is how well your chosen product is performing. If you’re investing in Mutual Funds and Unit Investment Trust Funds, it’s important to know how well it’s doing, as it filters into how much you make. If you’ve ever wanted to know which ones are doing really well, here’s a look at the best performing MFs and UITFs in 2015. Table of ContentsMutual FundsUnit Investment Trust FundsFinal Thoughts Mutual Funds Investing in Mutual Funds is usually recommended for beginners, or for people who are too busy to keep constant track of their investment. These are pooled investments; funds collected here are invested by professional fund managers in various assets. Here are five of the best performing mutual funds this year: MUTUAL FUND ROI Philequity Fund -0.81% Philequity PSE Index Fund 3.53% Philippine Stock Index Fund 4.52% First Metro Save and Learn Equity Fund 0.99% Sun Life Prosperity Philippine Equity Fund 1.65% The top two are both run Philequity Management, Inc, and is largely recognized as one of the most outstanding year-on-year performers. It’s…

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5 Reasons Why Your Car Loan Gets Rejected

Much of the money that makes up funds borrowed from banks by the general public belongs to car loans, or auto loans. These days, it is much easier for someone who wants to finance the purchase of a new car to go through a loan to get it. While the odds that you get a rejection for a car loan are low, it can still happen. It’s a natural thing for creditors to look at all available information before they allow someone to borrow money. What they find will factor into whether or not you’re granted a loan. Here’s a look at a few reasons why your car loan gets rejected. Table of ContentsIncorrect/Unclear InformationLack of Stable IncomePoor Debt RecordLarge Loan RequestFraudFinal Thoughts Incorrect/Unclear Information The information you provide to the bank or lending company is extremely important. All of it will be used by lenders to investigate whether or not you are capable of paying back the amount you borrow. For example, the address and phone number you provide will be checked for validity. Even the tiniest mistake may be a cause for your loan to be rejected. How to prevent it: Give your forms the once over, even if you’re 100% sure that everything you’ve placed is correct. Remember to check your zip code, as this can vary by the district in a single city. Lack of Stable Income Top priority on a lender’s investigation is figuring out whether or not you can handle paying back the amount you borrow in a timely manner. To that end, lack…

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How About Fiber Internet in the Philippines?

Fiber Internet is on the rise globally. Boasting superior speed and reliability, it isn’t surprising that it attracts the attention of Internet-savvy people. So what exactly is fiber Internet and where does the Philippines currently stand regarding it? What’s the Technique Behind Fiber Internet? First off, let’s delve into the technique behind fiber Internet. Instead of relying on more conventional techniques such as copper cables, fiber Internet functions through cables made of fiber: fiber-optics. The basic idea behind fiber-optics is that light is being guided through long fibers of extremely bright and thin glass, which allows the reliable transmission of signals over long distances. As the fibers themselves aren’t thicker than a human hair, the light being guided through them makes extremely sharp angles hitting the outside of the fiber. Because of this, reflection is guaranteed and the light stays inside the fiber through internal reflection. photo credit: X-Tine, resized Flickr CC photo Fiber-optic communication systems were invented as early as the 1970s. Ever since, the technique has revolutionized telecommunications, and been paramount in facilitating the rapid development of the Information Age. Besides telecommunications, the technique has slowly been gaining ground when it comes to Internet penetration. This is because next to speed, a big advantage of a fiber-optics powered network is its reliability. Whereas the speed of conventional Internet may vary according to the amount of people using it (with many people at the same time severely slowing down the connection), with fiber optics it’s unlikely that you’ll encounter slowdowns due to heavy usage. Getting Fiber Internet in the…

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3 Things To Do When The Philippine Stock Exchange Is Down

The Philippine Stock Exchange index (PSEi) dropped roughly 500 points, losing 6.70% in one day and dropping below the 6,800 mark. After weeks of troubling news, from the recent (and continuous) crash of the China stock market to the devaluation of the yuan, global markets are in a panic and the Philippines is no exception. As China’s growth slows, it affects the Philippine economy as well, according to a July article by Randell Tiongson. “If China’s growth falls below 7%, that could affect many of the manufacturers in ASEAN including the Philippines — since our region provides a portion of the intermediate goods for China to finish or complete,” he writes – and that seems to have happened. Investors are at the edge of their seats. Seeing their investments in PSEi stocks are in the red is tempting enough for a selloff; however, before you sell your stocks, stop, think, and relax. Moneymax.ph rounds up 3 things investors can do (and not do) when the stock market is down: Table of ContentsRevisit your strategyKeep your emotions in checkBuy low, sell highI can’t help but panic! Revisit your strategy You should not go into the stock market without an investment strategy in place. Moneymax.ph, in an interview with Marvin Germo, gives you the step-by-step on how to create an investing strategy for the stock market. When your stocks are in the red, it’s best to revisit your strategy. How long’s your timeline? If it’s more than a decade, then you shouldn’t sell at the first sign of a loss. How much money are…

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Top 5 Financial Goals for OFWs

With Php 1.20 trillion in OFW remittances sent last year, it’s puzzling why 1 out of 10 Overseas Filipino Workers (OFWs) remains financially broke. This is according to a 2011 study done by Social Enterprise Development Partnerships Inc. In addition, 80% of OFWs return to the Philippines with no savings. Despite them earning much more than their local peers, they are not immune to money matters and financial insecurity. From sending a bulk of remittances to relatives to investing in idle assets such as houses, OFWs experience financial challenges specific to them. Before it’s too late and they return home with insufficient savings or investments, OFWs should maximize their time abroad. Here are five financial goals for OFWs: Table of ContentsZero debtRetirement fundDiversified investmentsMultiple income streamsFamily members who don’t depend on remittancesWalang forever Zero debt Early this year, the Department of Foreign Affairs released an advisory warning OFWs in the United Arab Emirates (UAE) on unpaid loans and credit card balances. There have been instances where OFWs were detained in their country of employment due to defaulting and non-payment on loans. What to do: While you’re in your prime years of earning, set aside a percentage of your salary for debt payment. Take it a step further and allot windfalls such as bonuses to debt payments to kill your debt faster. Also, interest on loans and credit cards may be higher than the returns on investments, so pay off the bulk of your debt before you invest. Read more: How I Recovered from Six-Figure Debt Retirement fund During retirement, you…

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Using Credit Cards Without Going Into Debt

Credit cards are extremely convenient to use. Most credit cardholders have to stop themselves from going into bouts of emotional spending, or impulse buys – especially when card-based discounts come into play. That doesn’t mean that you should avoid credit cards. It means being able to manage your use so that you don’t drive yourself deep in debt. The best advice that Josh Frank – senior researcher at the Center for Responsible Lending – can give is: “Take advantage of the perks, and avoid the penalties.” So how exactly can you use your credit card without going into debt? Table of Contents1. Don’t keep a balance, or miss payments 2. Set a personal maximum balance (that’s below the actual maximum)3. Remember your credit card is not an extensionFinal Thoughts 1. Don’t keep a balance, or miss payments If you’ve got a balance on your credit card each time the statement rolls in, that’s instant debt. Remember that the balance on your card also acquires interest and late fees when they aren’t paid on time. Missing payments open you up to higher fees to pay and being unable to use your card. It also means that your credit rating is perceived in a negative light, making it difficult to get loans. Say you’ve got a 3.5% interest rate on your credit card, and a recent purchase worth Php 10,000. If the minimum payment a month is around Php 500, that leaves a Php 9,500 balance with an additional 3.5% added to it every month that it goes unpaid. If you only pay the minimum, you’ll end…

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5 Money Sources to Kickstart Your Dream Business

Starting and growing a business is no easy feat. According to Bloomberg, 8 out of 10 businesses fail within the first 18 months, and one of the main reasons they do is because of a lack of financing. There are some businesses you can start with low capital, while others require much more. For businesses that require large funding, no matter how great the product or service you have, it may not take off if you have insufficient capital. Whether you’ve already started or are about to take your first steps into the world of entrepreneurship, here are 6 ways to finance your business: Table of ContentsBank LoansCooperative LoansCredit Card LineInvestorsInvestmentsPersonal SavingsGrowing Your Business Bank Loans Multiple banks offer loans specifically for businesses. There are short- and long-term loans, which last up to one year for the former and 7 to 10 years for the latter. Here are some banks which offer loans specifically for your business: BPI’s Family Ka-Negosyo Loan BDO’s Small Business Loan Metrobank’s SME Business Loan To apply for a business loan, you would need to submit a copy of your valid I.D., income tax return (ITR) for the last two or three years, bank statements, and a filled-out application form. For first-time entrepreneurs, there are additional documents to submit such as: Certificate of employment (indicating salary, position, and tenure) Resume of loan applicant Certificate of employment authenticated by the Consul (for OFWs) Look out for annual interest payments which can start at 6% depending on your term. Also, banks offer loans of up to Php 20 million…

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How Much Money Are You Losing Because of Traffic?

Metro Manila has the worst traffic in the world. The results are based on the 2015 Global Driver Satisfaction Index (GDSI) conducted by Waze, the world’s largest traffic and navigation app. According to the study, Metro Manila’s average commute time lasts about 45.5 minutes, the longest in the world; and what’s more, commuters can expect the travel time to last much longer during torrential rains. The usual 15-minute travel time from Pasay to Makati could last up to two hours during heavy downpours accompanied by rush hour. With this, hours that could have been used for something more productive are wasted when commuters are stuck in an unmoving gridlock. According to Felino A. Palafox, a founder of the Philippine chapter of The International Real Estate Federation, Filipinos spend an average of 1,000 hours per year on the road due to traffic. That is 700 hours more than what residents from better-developed countries experience. You can just imagine how much money is wasted because of the horrendous Metro Manila traffic. Look no further; MoneyMax.ph crunched the numbers for you, so just how much are you losing because of traffic? Table of ContentsCost of GasCost on ProductivityCost on HealthCost of AccidentsThe Larger ScaleWhat Now? Cost of Gas What is usually a 15-minute drive can turn into two hours thanks to traffic. And for every ten minutes you leave the car idle, you’re using between 0.1 to 0.6 liters of fuel. This is according to Green Action Center, a non-profit organization promoting greener living. Fuel is one of the major costs of owning…

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7 Steps to Make Your First Million Pesos

Tyrone Solee made his first million pesos when he was 26 years old because he was tired of the rat race. Now, his passion is sharing what he’s learned on how to succeed in becoming financially free with others. On his blog Millionaire Acts, he gives tips on how to improve your financial habits as well as sharing his personal insights on wealth-building. MoneyMax.ph sat down with Tyrone to pick his brain about his personal finance philosophy, as well as to ask how he was able to make his first million. Here’s what we learned, and here’s what you can do to make your first million pesos: Table of Contents1. Have a clear goal.2. Have more than one source of income.3. Educate yourself on your options for wealth-growing.4. Income – savings = expenses.5. Spend less.6. Accept that you’re going to make mistakes.7. Keep track of your progress.Final Thoughts 1. Have a clear goal. For Tyrone, becoming financially free was his ultimate goal, not just making a million pesos for the sake of it. Even though he was making a lot of money at his job, he wasn’t happy with the stress and the way he was treated by his superiors. “I realized I would have more freedom if I didn’t have problems with finances,” he says. So he set himself the goal of being financially free from his job by making his first million pesos. By the time he left the company after 3 years of working there, he had already socked away Php 750,000. It was the motivation of being…

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4 Steps to Take Control of Your Wallet

There’s that moment every payday when all that you can think about is how you might feel after you buy something that you’ve been itching to get. A little retail therapy never hurt anyone, after all. There’s also a moment when you might feel like you need to get something to de-stress from a very long work week or an emotionally charged situation. This might mean that your wants control the way you spend, which is also called emotional spending. According to psychologist and founder of Dionco James Dion, emotional spending can be a form of avoidance, or not wanting to deal with things that are confusing, or upsetting. “People prone to avoidance behaviors must first confront their total financial picture, from expenses to checking account balances,” he says. This can make you more prone to overspending and stretching your budget thin each month. Here’s how you can deal when your wants control your wallet. Table of ContentsGive It TimeAvoid AdsManage TemptationFind Free Alternative Activities Give It Time An impulse purchase comes about when you’re window shopping, whether that’s a physical shop or online. This doesn’t just mean not springing for that tiny packet of chocolate at the checkout aisle; this means stopping yourself as soon as you pick up an item that wasn’t planned in the first place. If you find yourself wanting something that you see in a store, give yourself 24 hours to weigh whether or not you want to buy it. If you still want it after that time period, but find yourself thinking that you…

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Online Marketing for Your Business

Owning a business is one of many ways of earning an income, if not the most sought-after. In this new age, people have shifted from an employee mindset to an entrepreneurial one. What with the perks of being an entrepreneur – owning your own time, working at home or a hole-in-the-wall café, and creating your own opportunity – more and more people are giving it a try and starting a business. Even in the Philippines, the number of entrepreneurs is rising with the Philippines placing 10th out of 73 countries as the most entrepreneurial according to research by Approved Index, a B2B marketplace. Business owners and entrepreneurs know that starting a business is an uphill battle. If you look at successful businesses, none of them happened overnight. There are many challenges to overcome and one of which is getting your business out there. How to raise awareness and acquire a following to produce sales are common concerns entrepreneurs face. This is the role of marketing. MoneyMax.ph interviewed James Ryan Jonas to get some insights on maximizing online marketing for businesses. He is a UP-Diliman professor who serves as a mentor and coach to student teams in various local and international competitions. One of the teams he mentored won the top prize in the 2013 Google Online Marketing Challenge (GOMC), besting 2,500 teams in the world. Table of ContentsWhy You Need to Take Your Business Online1. Virality2. Definitive measurement3. On-demand informationMaximizing Online Marketing1. Content Marketing2. Search Marketing3. Social Media MarketingTaking the Leap Why You Need to Take Your Business Online “Online…

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How to Save Php 1,000 in 30 Minutes or Less

Having difficulty budgeting and saving? You’re not alone. Unfortunately, proper money habits do not come innately to anyone. It takes certain qualities such as practice and discipline to build a habit, not only when it comes to money matters. “How can I invest when I can’t even save 20% of my take-home pay each month?” is a common question people ask. The key is to start slow and build the habit. Sooner or later, what used to be difficult for you to do (e.g. packing your own lunch) becomes effortless (e.g. cooking is relaxing!). For those not already saving a part of their monthly income, here are 5 easy ways to save Php 1,000 (or more) in 30 minutes: Table of ContentsAutomate your accountsTrack your expensesCancel subscriptions you rarely useSell unused items in your houseCompare product and service offerings Slow and steady wins the race Automate your accounts “Out of sight, out of mind.” Setting up your payroll account to automatically transfer a part of your salary to your savings account at the start of every month will limit your expenses and improve your spending habits. You’ll learn to limit your expenses because you have already set aside a portion of your income before you even start spending it. Automate accounts so you “don’t save what is left after spending, but spend what is left after saving,” as Warren Buffet says. Take it a step further by signing up for your bank or brokerage firm’s Easy Investment Plan (EIP). The EIP is a program where a set amount from your…

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How OFWs Can Invest Online

When you’re working abroad, you tend to soak in the culture of the country. You also tend to absorb a lot of habits that are endemic to your native colleagues, which is awesome. The inhabitants of more developed countries often plan their retirement and savings really well and know how to diversify as needed. For a lot of Filipinos, the thought of investing your hard-earned money in something that does not immediately provide returns can be difficult. This kind of avoidance comes from the fact that you hear about all sorts of scams that happen when someone does attempt to invest. For a lot of Filipinos working overseas, the focus is more on saving than investing, according to a Consumer Expectations Survey for the Third Quarter conducted by the Bangko Sentral ng Pilipinas. OFW remittances towards investing have dropped 6.2% from the previous quarter. However, while OFW households may not be investing, OFWs can take it upon themselves to put more of their income towards investments by investing online. Luckily, there are many online brokers that can help the OFW investor along. If you’ve ever wondered how OFWs can invest online, here’s where you can get started. Table of ContentsResearch and Assessment The Right ProductOpen an Account with a Brokerage HouseGetting Started Research and Assessment Ask yourself what kind of investment you want to make, or how much are you willing to set aside as your very first investment. One of the choices available to you as an online investor is the fact that you don’t have to visit a…

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Should You Save or Pay Off Debt?

Everyone has some form of debt. Whether it’s credit card debt, or loans, or even just money you borrowed from a sibling – debt is debt. Debt happens because of many legitimate reasons, not just because of bad spending habits. But there’s more to your financial status than just debt. For those in this situation, the question becomes, when does saving take priority over paying off debt (and vice versa)? While it is suggested by financial experts like Suze Orman that you eliminate debt as soon as possible, sometimes you have to take into consideration other factors, and figure out exactly when to save or pay off debt. Here’s a look at some of the things to consider when making that choice. Table of ContentsWhat’s the interest rate on your debt?Do you have an emergency fund?Could you use your savings now to reduce your debt?So, should you save or pay off debt? What’s the interest rate on your debt? If the interest rate on your debt plays between 5% to 7% annually, it’s ideal that you pay that off before making any further progress towards your savings. If you’ve already got some money saved up, you can put it towards paying down a debt with an interest rate 7% or above as you’re more likely to save money in the long run. You may be looking at the Php 10,000 savings that earn 1% or 2% interest in a bank, and the same amount of debt garnering 2% or 5% in interest and thinking that the interest on your debt…

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“ETF”? Easy Investing with ETFs in the Philippines

More and more Filipinos are now investing in the stock market with an 11.4% increase in 2013 from 2012. With roughly 600,000 Filipinos investing in stocks, the number still makes up less than 1% of the country’s population. That means there is still a lot of room for would-be investors and traders. If you want to dip your feet into the stock market without jumping in headfirst, consider exchange traded funds or ETFs. Table of ContentsWhat are ETFs?What are the benefits of ETFs?What are the disadvantages of ETFs?Is ETF investing right for you? What are ETFs? An exchange traded fund (ETF) is an investment fund that holds assets, such as stocks and bonds. It is like a mutual fund or UITF where each fund contains different holdings. However, ETFs differ in the sense that ETFs are traded within the day like a regular stock, while mutual funds and UITFs can be purchased only with their end-of-day value. So with an ETF, you get the diversification of a UITF or mutual fund combined with the flexibility of stock trading. You can even use peso-cost averaging with an ETF, just like any other stock. At present, there is the First Metro Philippine Equity Exchange Traded Fund, Inc. (FMETF:PS) which tracks the performance of the Philippine Stock Exchange index (PSEi). With this, expect the performance of the FMETF to be similar to that of the PSEi. What are the benefits of ETFs? 1. Diversification Imagine an ETF as a pre-packaged Christmas basket where you get pasta noodles, a pack of rice, and canned goods…

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5 Smart Reasons to Invest in Bonds

Don’t like risk? You’re not alone. Filipinos are risk-averse with investors keeping 56% of their assets in cash (excluding properties). As much as possible, Filipinos prefer to safeguard their earnings. That is why more people in the Philippines invest in safer, low-yielding instruments such as time deposits and bonds. Especially with the recent drop in the Philippine Stock Exchange index (PSEi), people are worried about the possibility of losing their money in the stock market. If you want to invest but are scared of risking too much of your net worth or you are a beginner for investments, try to put your money into bonds. Table of ContentsWhat are bonds?Why should you invest in bonds?1. Minimal risk2. Higher returns than savings accounts3. Regular payments4. Introduction to riskier investments5. Diverse investment portfolioAre you ready to invest in bonds? What are bonds? Bonds are considered IOUs (‘I owe you’). This is because bonds are debt instruments wherein an investor (you) lends money to a borrower (government or company). There are two general types of bonds – bonds issued by the government (treasury bonds) and those issued by corporations (corporate bonds).  The two differ in the risks involved, which will be discussed in later paragraphs, but ultimately, government and corporate bonds are much safer than stocks. Why should you invest in bonds? 1. Minimal risk Bonds hold minimal, almost zero, risk because bond issuers are obligated by law to pay the principal and the interest on the bonds back. For treasury bonds, the government can always print more money or increase taxes to pay back….

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8 Tips to Retire by 40

Lianne Laroya earned her first million at the age of 23.  She narrates her financial journey in The Wise Living – a personal finance, business, lifestyle, and self-development website for young professionals which she hopes inspires and enriches them to do same. Having already earned a million when most her age were just starting their first jobs, MoneyMax.ph asked if she could retire earlier than 65. Yes, she can. She answers, “I actually consider myself as already retired because I’m working with a purpose and on my passions.” Most people work to keep up the pattern in their lives – go to work, pay the bills, go on a vacation once a year, and repeat. Lianne wants people to retire not so they can go on a dream vacation when they’re old and it’s too late. Instead, she advocates early retirement for all Filipinos so they can pursue their passions and hobbies as early as possible, and even monetize them. “I’ve met a lot of people who want to stop working because they dislike their jobs, so yes, I recommend early retirement for everyone because I want everyone to work for his or her purpose or passion.” Early retirement doesn’t have to be an unattainable dream. Lianne shares 8 tips to retire by 40: Table of ContentsFind out your retirement numberMake saving a habitCommunicate with your dependents and parentsProtect yourself with insuranceHave more than one income streamMonetize your hobbies and passionsInvestPlan your day in advanceI can retire by 40 Find out your retirement number Before you start stashing away money…

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What You Could Do With Lower Income Tax

  Update: The bill has been rejected, sadly. But this is what could have been – were the bill approved. Let’s face it: you tend to dread seeing your payslip because of the deductions. By the same token, you can feel some disappointment when your bonuses are taxed heavily. It isn’t just you. As a nation, we have a love-hate relationship with our income taxes. It’s the highest levy all income earners have, and it makes up the largest share of the government’s tax revenue according to a ten-year study by the National Tax Research Council. We also have the highest tax rates in Southeast Asia at 35% annually, including Vietnam and Thailand. There have been several attempts to pass bills that lower the income tax for the average employee. Unfortunately, the most recent tax reform only applied marginal changes, and only to those earning in the highest income bracket.  With most workers getting pushed to higher income brackets, the current tax rates only push individual income taxes higher. There are a handful of bills in process aiming to lessen the burden of income tax on the regular Filipino. One currently awaiting approval by the House Committee on Ways and Means – House Bill 4829, or the Tax Reform for Inclusive Growth – aims to simplify and lower income tax. But how does having lower income taxes help you? Table of ContentsWhat is House Bill 4829?What Changes?How much more will you be able to take home?Final Thoughts What is House Bill 4829? House Bill 4829 seeks to exempt people earning…

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