All Articles With Category : Personal Finance

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

6 Most Fulfilling Jobs in the World

To some people, their job is their life. They don’t necessarily need to get paid six-digit figure salaries, but still enjoy their line of work. Sometimes, these people work as volunteers, working for the love of the job instead of for the money. These are the kinds of people who are worth looking up to, who are role models, and who serve as an inspiration. The jobs they are in don’t necessarily reward them with riches and luxuries, but they are rewarded with something beyond the materialistic. Table of Contents1. Red Cross Volunteer2. UNICEF Ambassador3. Social Worker4. Teacher5. Environmentalist6. Human Rights Officer 1. Red Cross Volunteer Red Cross volunteers work part time or full time and are often sent to places in their home country or around the world. They receive training for first aid and other important skills for rescue and relief. Most Red Cross volunteers agree that their job gives them the greatest satisfaction when they’re able to make a difference and are able to help out people in need. 2. UNICEF Ambassador It may not be easy to become a UNICEF Goodwill Ambassador, but working for UNICEF itself is fulfilling already. Those who work with UNICEF may have a long-term or short-term occupation involving education, nutrition, or medicine, all of which are geared towards improving the lives of children around the world. A lot of UNICEF workers find the job challenging, but extremely satisfying. How can it not be? You see the smiles of children at the end of the day; that in itself is a fulfilling…

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Should You Lend Money to Friends?

The short answer is “Yes, if you can.” However, be mindful of the following consequences. When a friend or a family member needs to borrow money from you, the feeling can be overwhelming especially if you know that you can help. But if things do not go as planned; payments are delayed and when you simply cannot get your money back, your relationship with that person might be at risk. Lending money to friends can be unmanageable and cumbersome. If they come to you now to borrow money, here’s what you should do: Table of ContentsAsk if they need your helpOffer alternativesBe mutually clear about your termsUse your head – and your heartDon’t let others knowThink of it as a gift Ask if they need your help It took them a lot of pride to come to you even if you’re friends and related to each other. It will take them even more pride to ask. You don’t like more of that so take the chance to ask what they need. Be sure that there is a sense of necessity and urgency in the situation. Offer alternatives As much as possible, don’t lend money. Instead, come up with a great alternative like a legwork to something or some groceries, depending on what they need. You can also provide them with income generating opportunities that you know of. Explain the burden of having a loan. Be mutually clear about your terms Now, if you’re left with no other choice but to lend, treat it as a formal business transaction. Do not…

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The Curse of Unstable Internet Connection

  Aside from mawkish memes and online stalking, there’s probably nothing more annoying than an unstable internet connection. Being in a country with the slowest internet in Southeast Asia leaves one with very few options (if none) when a fluctuation happens. Approximately 37.6 million Filipinos can relate to the curse that we have no choice but to endure. Surely, it’s better to live with an average speed of 3.54 Mbps than to live a day without going online. Real-Life Stories: The Curse of Internet Speed in PH Here are the most annoying situations when you’d want to live in a country with better broadband connection: Table of ContentsWhen you’re working like a horse to beat a deadlineWhen you’re shopping onlineWhen you’re booking a flightWhen you’re trying to cope with distance through FacetimeWhen you’re on Skype call with a potential employer When you’re working like a horse to beat a deadline Have you ever been caught in a situation when you had a pile of workload that is due by EOD (end of day) and it requires intensive online research? No matter how fast you work, you’ll surely have a downtime. Sometimes there are people who would just go out for a break or smoke to de-stress a little instead of acting grumpy (or flipping tables) in the office. When you’re shopping online You lose your internet connection right when a promo is about to end, and eventually you don’t get to click on that buy button. Can you just imagine how excited you were to make a purchase and how…

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Are You Ready to Buy a House?

Buying a house is never easy. With all the options and factors to consider, investing in your new home should also involve time to dig into details and compare every information that you gather. Here are the questions you should ask yourself: Table of ContentsDo I have the budget?Will I be qualified for a housing loan?Is my chosen locality fit for my lifestyle? Do I have the budget? Money is, of course, the most important thing you should have when you really want to buy a house. You should have the resources at least for your down payment which usually costs at least 10% of the total cost of the property. Acquiring a new place comes with a lot of expenses and fees so you should ensure good money-management skills from this day on. Will I be qualified for a housing loan? The primary requirement is to prove that you have a really consistent cash flow to cover your monthly payments plus other expenses. If you’re going to avail a housing loan, consider these factors: Down payment: The downpayment usually comes with the reservation fee. It is the biggest chunk of your payment because it is usually a one-time payment. It can be a good deal too, because if you’re going to pay for a bigger downpayment, the monthly amortization will be lower than if you pay for fewer down payments. Consider your income when it comes to balancing which is a better option for you. Monthly amortization: After paying the downpayment, you will pay the monthly amortization that depends upon the…

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RCBC MyWallet Visa Cards

If you have no intention to open a deposit account but would like the convenience to avoid carrying cash around while maintaining your purchase ability, the RCBC MyWallet Visa Cards may be just what you are looking for. Read More: Cash Advance Of Credit Cards: To Do Or Not To Do? Table of ContentsWhat is a Prepaid Stored Value Card?How does it work?How to load the card?Where does it work?What transactions can I perform with the RCBC MyWallet Visa card?Why will I like it? What is a Prepaid Stored Value Card? The RCBC MyWallet Visa card is a reloadable multi-purpose prepaid stored value card. It is one of the leading prepaid stored value cards in the industry. A prepaid stored value card provides the cardholders with the convenience of making cashless purchases without going into debts, as the cardholders will never be exposed to the risk of overspending, since the prepaid stored value cards do not provide overdraft facility. The maximum amount a cardholder can spent per transaction is equivalent to the fund on the card. How does it work? Your spending is limited to the amount you load for the card. Each time you use your card, the purchase amount is automatically deducted from your MyWallet Visa card balance. To activate your RCBC MyWallet Visa Card upon purchasing, you need to deposit P120 while P100 is readily available for withdrawal.  In addition, there is no minimum maintaining balance. The only restriction is on the maximum ‘topped-up’ amount. Each cardholder can only load a maximum of P100,000 per month regardless of…

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Postpaid Bundle Face-off: Smart’s Flexibundles vs. Globe’s mySuperPlan

Over the years, Smart and Globe, two of the country’s biggest networks, have been consistent in providing its consumers with promising packages when it comes to their postpaid plans. The Big Two never fail to satisfy its million subscribers with new promos and postpaid bundle offers that would fit daily communication needs. Read more: 5 Free Mobile Apps Every Driver Must Have Aside from better SMS and call promos, mobile internet has now become the third platform for subscribers. Smart and Globe give their subscribers the power of three platforms in a variety of bundles. Smart’s Flexibundles and Globe’s mySuperPlan offer flexible features wherein subscribers can mix-and-match features depending on needs and budget. Smart Flexibundles matrix Smart gives its subscribers the freedom to choose all the features that the subscriber needs and certain price queues. Smart didn’t limit the promos with its network alone. There are deals where subscribers can text and call other network subscribers. Calls Unli Talk/ P500.00 – unlimited calls to Smart, and TNT for 30 days Trio Talk Plus 300/ P300.00 – 300 minutes calls to Smart, TNT, Sun Cellular, and PLDT landline for 30 days All Net Talk/ P250.00 – 80 minutes of calls to Smart, Globe, and Sun for 30 days Sun Talk/ P99.00 – 50 minutes calls to Sun for 30 days Text Unli Tri Net Text/ P350.00 – Unlimited texts to Smart, TNT, and Sun for 30 days All Net Text Upgrade/ P350.00 – 3,500 texts to Smart, Globe, and Sun for 30 days Sun Text/ P99.00 – 1,000 texts to Sun for 30…

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Tapping into Next-Generation Online Gaming

With Sony and Microsoft’s new video game consoles slated for, respectively, a December 2013 and early 2014 Filipino release, it might be worth beefing up your broadband plan. What will the PlayStation 4 and the Xbox One have in store for online gamers? Read More: Prepaid Broadband Packages in the Philippines Table of ContentsOnline Gaming on the PlayStation 4Online Gaming on the Xbox OneGood Times Coming for Online Gamers — Do You Have the Right Internet Plan? Online Gaming on the PlayStation 4 With the opportunity to add up to 2,000 friends on your online account, a mono-headset for voice-chat included with your PlayStation 4 purchase, and the possibility to download your retail games directly to your console, Sony’s newest home console aims to cater fully to the needs of online gamers. Although, this time around, you’ll have to pay a subscription fee of approximately P2,000 a year to be able to play online games (this was still free on the PlayStation 3), Sony insists that it’ll be worth your pesos. Among the games coming up for the PlayStation 4 which you can play online are the following. First, first-person shooter fans will be able to go all-out with Killzone 4. Set in a dystopian future, the story revolves around a violent conflict between the Vektans and the Helghast, two rival colonist factions based on a distant planet. Online gaming will involve playing as either one of these factions and trying to outgun your opponents in a large variety of gameplay modes. The Elder Scrolls Online[1] takes on quite a different approach. Set in…

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PLDT Seeks Talks with Apple Over Telpad

Philippine Long Distance Telephone Co. (PLDT) is seeking talks with iPad maker Apple Inc. over plans to provide more options to Telpad customers. PLDT currently has 110,000 Telpad users and the telco giant plans to double the number of subscribers this year. Patrick Tan, PLDT vice-president of Home Voice Solutions, said this was part of their strategy to bring more premium offerings to their customers. “We just want to follow the consumer’s voice. If they want high-end, branded (products), we want to make sure it is available,” he said in an interview[1] with Inquirer.net. PLDT’s Telpad provides subscribers with customized tablets and landlines. The plans are bundled with PLDT’s broadband services. Company revenues from the Telpad business hit PHP 800 million in 2013. PLDT sees this figure breaching the PHP 1-billion mark this year. Just recently, PLDT launched an upgraded version of its Telpad tablet, which now features a more powerful quad-core processor. Huawei from China makes the tablets but PLDT is talking to other Chinese suppliers to further bring down the price of Telpads. The company has started talks with Samsung last year. PLDT’s Telpad Plans and Other Broadband Services PLDT is offering five Telpad plans starting with Plan 1649, which comes with a free Telpad unit and a featured speed of up to 1.5Mbps. They also have a range of other Telpad plans from Plan 1849 (up to 2.5Mbps) up to Plan 4100 (up to 8.5Mbps). The Telpad device allows subscribers to play the latest EA games and enjoy blockbuster movies on-demand through Clickplay. PLDT also has tie-ups…

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PH Among World’s Top Performers in Housing Prices

The Philippines was among the top performers in terms of growth in housing prices in the world, according to a research house Global Property Guide (GPG). In the global house price survey conducted by GPG in 2013, the Philippines was the fourth top performer. The average price of a three-bedroom condominium unit in Makati CBD has risen 10.56% from an annual increase of 4.85% in 2012 and 2% in 2011. “Demand remains strong, as indicated by soaring real estate loans,” said GPG while noting that based on data from the Bangko Sentral ng Pilipinas (BSP), the volume of real estate loans rose 38.5 percent year-on-year to P776.65 billion in September last year. GPG stated that the PH housing market is still expected to rise this year. That is in accordance with the increasing number of foreign investors in the country as well as the growing Business Process Outsourcing (BPO) industry. The growth in the local housing market is seen after country’s favorable economic conditions. United Arab Emirates topped the list of GPG’s rising housing prices with average prices of housing units in Dubai growing 21.52% in 2013. Taiwan took the second position on the list with prices soaring 14.98%. Estonia placed third with price rise of 12.46%. Philippines at the fourth place followed by Germany where prices rose by 9.61%

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How to Survive Summer Without an Allowance

Summer is here! After experiencing two full months of cold days and freezing nights in the Philippines, who’s not excited to hit the beach and bathe under the scorching sun? While almost everyone is busy calling their friends and planning vacation itineraries, it’s not that simple for everyone to commit to an out-of-town or out-of-the-country trip. Who doesn’t need money for fun? Students get the biggest slice of the pie when it comes to having a longer summer. However, students are also the ones who have minimal financial capacity because there’s no source of income. Asking mom or dad to fund an eco-trip to the Underground River in Palawan or a sleepless weekend in Boracay might happen unless your parents have already entrusted you with a supplementary credit card. But that’s just one weekend out of at least two and a half months of summer vacation if your next school year will start in June. What can you do to survive the summer season without cash? Table of ContentsGet a summer jobSell your old stuffSet up a small business in your neighborhoodLessen out-of-town trips and do more house partiesMake it a family affairFinal Thoughts Get a summer job Getting a summer job will not only help fund your much-awaited weekend in paradise. It will also give you an edge in terms of learning how to survive in the real world. Leveraging your skills while you are young is a great step to building the groundwork for your career. Ask around for any vacancies. Spend a few hours searching the web, but make…

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PH Exports Sustained Growth Despite Calamities

The Philippines sustained its growth trajectory for exports after the National Economic and Development Authority (NEDA) reported 9.3% year-over-year growth to $4.4 billion in January 2014. According to NEDA, the manufacturing sector registered impressive growth in product orders, led by electronics and semiconductors which accounted for 41% of the total exports. The increase in orders for apparel clothing and accessories, wood crafts and furniture, electronic equipment and parts, machinery and transport equipment, and other products also made significant contributions to the increase during the first month of 2014. Analysts remain optimistic on the country’s electronic exports as it is projected to grow by 5% in 2014 amid the rise in electronic demand and imminent European economic recovery. Meanwhile, manufacturing export gains offset the decrease of agro-based exports, such as fruits, vegetables, sugar, and coconut. In February 2014, coconut oil shipment was recorded at 70,900 metric tons, down 18% year-over-year. The local coconut industry (CNO) posted shipment of 143,870 metric tons, down 35% year-over-year. However, CNO exporters continue to dominate against palm-kernel oil as coconut oil is priced at $1,350 per metric ton, compared to the palm-kernel oil which is at $1,281 per metric ton. Yvonne Agustin, Executive Director of the United Coconut Association of the Philippines (UCAP), commented, “We still don’t know whether it’s a result of higher demand from abroad or a slowdown in supply. Usually, when prices of coconut oil go up, prices of palm kernel oil follow suit.” Agustin explained that UCAP continuously monitors the global market. Today, more than 70% of our CNO produce are exported…

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Shape Up with the Financial Fitness Forum

Financial Fitness Forum[1] is a one-day personal finance event that helps every Filipino from all walks of life on achieving their financial goals. Get valuable personal finance advises from Registered Financial Planners (RFP®) with free one-on-one counseling and advise at Financial Planning Clinic sessions. Get fresh ideas on investing, learn powerful insights about wealth building, apply new strategies in growing your money. Plus, get valuable investment strategies, advises on saving for your retirement, tips on insurances, real estate, mutual funds and all other money challenges and technical analysis from high-caliber speakers. Above and beyond, this is a forum that nobody should miss especially those people who believe that financial freedom is possible to anyone. Learn how to save and invest! Save the date! March 29, 2014 at the SMX Convention Center in SM Aura, Taguig City. Sources: [1] Financial Fitness Forum

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5 Things You Should Know As a Day Trader in Stock Market

Everyone who starts to trade whether new or old learns every single day one certainty in life: everything is always in constant flux. We are all constantly changing.  Prices fluctuate every second or millisecond or nanoseconds.  You get what I mean.  Couple this with the stress of trying to make ends meet, and to make a good living out of one’s trading portfolio and you will find yourself with 99% of the Filipinos out there who struggle in this endeavor. “How do I actually earn from the markets if I want to be a self-directed trader or investor?” Read more: How to Pick Stocks in PSE: Helpful Tips for Beginners Table of ContentsThings I Learned in Investing at Stocks1.) Be Completely Fine with Imperfection; Expect to Be Wrong.2.) Learn to Crawl3.) Be an Eternal Newbie.  Become a Beginner Again and Again.4.) Empty Your Cup.  Tabula Rasa5.) Be Kind to Yourself and Embrace Your Weirdness.  Things I Learned in Investing at Stocks 1.) Be Completely Fine with Imperfection; Expect to Be Wrong. Do not beat yourself up because you have a few extra pounds around your waist and do not beat yourself up because you didn’t get to buy at the exact perceived support level before it bounced.  Do not hate yourself for failing to sell before the stock has fallen.  Be completely fine with taking the next price which can be one to two percent higher or lower.  No one is perfect. Be perfectly imperfect.   Most traders I’ve had the pleasure to meet, work, and talk with, whether they’ve been trading the markets for twenty…

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iCON 2014: Empowering Filipinos to Invest Today

Due to insistent demand, BrandSpeakAsia brings iCON 2014 on May 17 at the SMX Convention Center with a bigger pool of speakers and wider range of topics on investment. Randell Tiongson, lead organizer of ICON 2014, an investment conference which envisions to educate, equip and empower Filipinos to invest today. Register NOW!

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Jesi Bondoc: Personal Budgeting Made Easy

For most people, the word “budget” can never be associated with the words “easy” and “fun”. It always has that restrictive and challenging sound to it and perhaps because budgeting is a major struggle for many of us. But contrary to what you feel and think, budgeting is not about repressing your control over money and cutting down on your spending and the fun that goes with it. It’s all about guiding you on how to efficiently spend your money and in the process help you save some so you can have more to spend in the future. For this reason, I refer to it as a “Spending Plan” instead of budgeting. Read More: Budgeting Tips for First-Time Employees Effectively managing your personal cash flow, the money that goes in and out of your pocket is the first step towards achieving a healthy financial life and a “Spending Plan” is a great tool in helping you accomplish it. Here are the things that you need to do in order to develop your own Spending Plan. Table of Contents1. Put your Spending Plan on paper.2. Track your monthly expenses.3. Establish your spending allocations.4. Following through with your Spending Plan.About the Author 1. Put your Spending Plan on paper. Writing provides clarity, direction, and focus. If you do not write down your spending plan, you will surely forget it. Start by writing down your monthly income net of taxes and other government contributions. 2. Track your monthly expenses. Begin by writing down your fixed expenses like food, transportation, mortgages and utility expenditures….

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Effective Saving Tips for Filipinos | MoneyMax.ph

Filipinos like the idea of saving, but they always manage to forget every time they’re faced with spending issues and such. If you need to be reminded about your spending habits and saving schemes, below are 13 tips to get you started! Read More: 5 Money-Saving Tips for OFWs Table of ContentsTurn off the lights.Limit your AC use.Bring an umbrella.Leave the house early.Shop at the market.Teach your kids (or the people around you).Track your prepaid or postpaid spending.Know your credit card.Apply for a personal loan.Don’t mistake stinginess for thriftiness.Ignore the need for brands.Enroll in online banking.Compare Turn off the lights. And the fan. And the PC. And everything you don’t use whenever you’re not in the room. It’s something all our parents have told us to do and yet we still forget to do it every time. It may seem like such a hassle, but it’ll do wonders for your electricity bill. Unplug appliances, gadgets, and chargers when you’re not using them. Limit your AC use. Or if you can take the heat, don’t use it at all. You’ll be amazed how much you’ll be saving after just one month! If you want, turn it on for 2-3 hours and then turn on the fan afterwards. As much as possible, don’t set the fan to rotate because that consumes more electricity. Or if you can take the heat, don’t use it at all. You’ll be amazed how much you’ll be saving after just one month! If you want, turn it on for 2-3 hours and then turn on the fan. As…

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How to Be a Successful Entrepreneur

Apart from being a reputable stock trader/analyst, Marvin Germo is many things: entrepreneur, blogger, book author, newspaper columnist, and registered financial planner. All these, however, are just his ways and means of fulfilling his ultimate goal: financial freedom for every Filipino. Now, that might sound like a lofty dream (and indeed it is), but if Marvin’s life is an example, nothing is impossible. From completely ordinary beginnings, Marvin is now one of the leading finance experts in the country. He represents Registered Financial Planners[1] (RFP) Philippines, an independent self-regulatory professional group educating and gathering financial planners in the country. He writes regular columns on stock investment for the Business Mirror and MoneySense Magazine. Marvin, who often appears in TV and radio interviews, also shares financial knowledge as a keynote speaker in various events and seminars. MoneyMax.ph was given the privilege to interview Marvin, and we learned how he was able to carve his own path toward financial freedom, and how RFP is working to empower Filipinos with knowledge and information to change the way they view and manage their financial situation. Table of Contents7 Business Tips from Mr. Marvin Germo1. Being an entrepreneur is a decision.2. Lay your foundations early.3. Make mistakes. Make them now.4. Start small.5. Money isn’t everything.6. School isn’t everything.7. Learning is everything.PH Needs More Entrepreneurs 7 Business Tips from Mr. Marvin Germo 1. Being an entrepreneur is a decision. Marvin wasn’t born to a particularly wealthy, business-minded, or financially-savvy family. His father, for example, was a long-time employee of a top multinational pharma company up until…

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Effective Ways to Save Money as an OFW

Most Filipinos get the impression that Overseas Filipino Workers (OFWs) have more savings because they earn abroad. This is not always true. Often, families with members working abroad tend to spend more and save very little—or none at all. There is no measuring the kind of sacrifice OFWs make, working in a foreign country and leaving their families behind for the chance to earn more money and secure a better future for their loved ones. If you’re are an OFW yourself, it is your responsibility, as well as your family’s, to make sure that all the sacrifice and hard-earned money don’t go to waste. Read more: 4 Things OFWs Need to Know about the Current Pag-IBIG Fund Law Table of Contents1. Talk to your family.2. Live within your means.3. Avoid vices.4. Invest your money.5. Set your financial goals. 1. Talk to your family. It won’t make much sense if your family is so quick to spend every peso you earn. While there is nothing wrong with them enjoying the fruits of your labor, remind your family about the importance of budgeting so they won’t be empty-handed in cases of emergency. Teach your kids about saving and encourage them to develop a healthy mindset about money. With your family’s support behind you, you will be more inspired and motivated to do your best at work. 2. Live within your means. Do not always give in to your wants. If your expenses take up most of your income, then you need a change in your spending habits. Save a set percentage of your…

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Philippine Deposit Insurance Corp. Continues Reforms on Its Award-Winning Service

Good news for deposit account holders in the Philippines. The Philippine Deposit Insurance Corporation (PDIC) has made it easier for the majority of Filipino deposit account holders to get outright payment of their deposit insurance should their bank close. The Board of Directors of the PDIC has increased the number of deposits of closed banks that are eligible for outright payment of deposit insurance. The amount has been raised from P15,000 to P50,000 so depositors who have no outstanding obligations with the bank that have less than P50,000 in deposits no longer need to file a deposit insurance claim to get paid by the PDIC should their bank fail. The new policy makes it more convenient for many Filipino depositors as they don’t need to go to the site where PDIC conducts their field operations claims settlement (FOCS) to file their deposit insurance claims. The increase will benefit the majority of Filipino depositors as close to 85% of accounts in a closed bank have balances of less than P50,000. With the new policy in place, only the remaining 15% will need to file a deposit insurance claim. Table of ContentsPDIC’s Role in Protecting Filipino DepositorsLower Rates of Rural Bank Failures in 2013PDIC is the Deposit Insurance Organization of the Year Awardee for 2013 PDIC’s Role in Protecting Filipino Depositors The PDIC was established in 1963 with a mandate to protect depositors and maintain stability in the financial system. A 2009 amendment to the law that created the government agency increased the maximum deposit insurance coverage that the PDIC provides to…

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5 Signs of Financial Compatibility

I know you cherish that one witty conversation with your partner that started it all, the physical attraction that have pulled you together amidst a crowd of strangers, and who would forget the butterflies in the stomach kilig during those first dates? You were both head over heels, couldn’t stop texting or calling each other. You were inseparable. And then all of a sudden, waking up in the morning you decide he/she is your match. You like the same books. You share the same passion. You play the same sports. You might feel like you’ve found your soulmate, the perfect one. No one knows if he/she is “the one”, but have you asked yourself, “Are we financially matched to last the day-to-day realities of life? If you’re off playing the field and you’re ultimately focused on building a lifetime partnership with your current object of affection, you better make sure that money won’t be something that can break the two of you apart. As early as possible, look for signs that say you and your partner are indeed financially compatible. If not, then both of you may just be wasting your time investing in a relationship that clearly wouldn’t work after marriage, or even just before it. Think about the engaged period and all the associated finances. Yeah, I know you’re clearly getting it. So, are you financially compatible? Here are some of the tell-tale signs you should look out for. Table of Contents1. Your financial goals coincide with each other.2. Money talks aren’t awkward.3. You compliment each other’s approach to…

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