All Articles With Category : Personal Finance

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

13 Money-Saving Tips for the Modern Nanay

If you’ve been living in the Philippines your whole life, you know saving money is always a must. At least, that’s what your Nanay and Lola always said. Being a mother, you know that finances are never easy. It’s an everyday challenge, especially if you’re also trying to earn money. Now, it’s easy to forget the dos and don’ts of being thrifty, so here are a few easy-to-remember tips you can follow to keep that saving streak going: Table of Contents1) Buy your food from the market.2) Bring your own bag (BYOB).3)Eat something before you shop for food.4)Avoid calling for taxi service.5)Schedule your purchases.6)Download budgeting apps.7)Make electricity-saving practices a norm in the house.8)Pay off your debts as soon as possible.9) Leave your credit card at home.10) Cut the Starbucks habit.11) Always go for the recyclable.12) Limit your Yes. Exercise your No.13) Include the family in your money-saving schemes. 1) Buy your food from the market. This means you’ve got cheaper vegetables and cheaper meat. As much as you don’t like to do your pamamalengke the old way, it’s actually the best place to find awesome deals for fresh food. 2) Bring your own bag (BYOB). If you do your market runs or shop at grocery stores, it’s best if you bring your own shopping bag. Some grocery stores like SM Supermarket have banned the use of plastic bags during weekdays. If you’re traveling by public transportation, you’ll be forced to buy extra plastic bags or their shopping bags so you wouldn’t have to carry your grocery items in a box or, worse, in a paper bag. 3)Eat something before you…

Read the Article

Globe and Smart’s Tablet Bundles for the Christmas Gift Shopper

Hoping to get a new tablet under the tree this Christmas? It’s the perfect time to get a tablet when you sign up for a broadband plan from Globe and Smart, two of the biggest broadband providers in the country. Let’s compare the different tablet bundles offered by Globe and Smart for this coming Christmas. Table of ContentsiPad Plans from SmartiPad Plans from GlobeGlobe Tattoo’s Tablet BundlesSmart’s Tablet Offers iPad Plans from Smart You can get a 16GB iPad mini on Smart’s Plan 999 for P13,990. The plan comes with unlimited 3G/4G/Smart LTE and has a 24 months lock-in period. The iPad mini 32GB version is priced at P18,990 while the 64GB version is priced at P23,990. Smart is also offering the 16GB iPad with Retina display for P21,990 with the 32GB and 64GB versions priced at P26,990 and P31,990 respectively. For the iPad Mini with Retina display, Smart is offering the 16GB model with a total monthly fee of P1,499 while the 32GB model comes with a monthly fee of P1,699. These bundles come with a one time fee of P1,000. The plan includes 65 hours of surfing with anti bill shock. They’re also offering the iPad Air 16 GB and 32 GB models with the same total monthly fees but with a one time fee of P5,000. iPad Plans from Globe Globe is also offering the iPad mini with Retina display and Globe’s price for the 16GB model with a 24-month contract period for its plan 999 unlimited LTE surfing plan is P18,000. The 32GB version and the…

Read the Article

The History of Money in the Philippines

When drawing your wallet for a purchase, you might not give much thought to where the pesos in it come from. Sure, from an income perspective, you probably would, but considering their actual history might be another story. What is the history of the Philippine’s current currency, and which payment methods did precede it? Read More: Top Celebrities’ Financial Nightmares Before delving into the history of the Philippines’ money, it is useful to go a bit into the concept of money itself. What are the main functions of money? You can use it as a medium of exchange, a store of value, or as a unit of account. Possessing certain amounts of it contributes to your capability to choose how you want to live your life. For many countries in the world goes that their national currency is a source of pride and that it is an important and valued aspect of their national identity. So how did the Filipinos fare before the advent of the peso; how did society actually function without it? Table of ContentsBack in the Old DaysWhen the Spanish Entered the Philippines… And leftTowards the Current-Day Peso Back in the Old Days Long before the country we live in was known as the Philippines, people were already exchanging goods and services with each other and people from neighboring areas. They did so through ‘barter trade,’ which means that for instance someone would trade a cow or chicken directly for someone else’s knife or hammer. The impracticality of this barter trading led people to assign certain set values…

Read the Article

UnionBank Power Checking Account

Have you ever wanted to have an account that lets your money earn interest and at the same time allows you to deal with daily transactions with ease? The UnionBank Power Checking Account aims to unify both needs. Table of ContentsKnow More about the Power Checking AccountThe Benefits of the Stop Payment ServiceService Charges of Power Checking Account UnionBank E-WalletOnline Banking ConvenienceTransaction Password Know More about the Power Checking Account With a UnionBank Power Checking account, you can issue checks and carry out unlimited transactions at UnionBank branches nationwide. For business and personal checking accounts, P350 and P180 will be charged respectively upon the checkbook requisition. With the Power Checking account, we can earn higher interest than with a regular savings account. The interest rate varies according to the of funds in the account. The minimum ADB to earn interest is P1,000,000. The following is the tiered rate of power checking account: PhP 1 Million – PhP 4,9 Million: 0.125% PhP 5 Million – PhP 9.9 Million: 0.150% PhP 10 Million and above: 0.25% An extra feature for this account is the UnionBank Transaction Diary, which allows the account holder to monitor their account activity. The replacement fee of the transaction diary will cost the account holder P200. The Benefits of the Stop Payment Service Many Power Checking Account holders have to deal with heavy money transactions every day. For these users, check-issuing is already a daily routine. The advantage of the Power Checking Account is that if they accidentally sent a check for the wrong amount to a wrong…

Read the Article

How to Change the ATM PIN of My EON Cyber Account?

The UnionBank EON Cyber Account is an internet-based deposit account, allowing us to perform our daily money transactions anytime and anywhere. The UnionBank Online Banking Facility is one of the fast ways to carry out the banking transactions. You do not need a passbook to access the account. As long as you know your PIN, you can log in your UnionBank EON Cyber Account. The ATM PIN The ATM PIN is important for you to gain access to any ATMs for cash. Once you receive your EON Visa Debit Card, you will get a preset PIN. It’s advisable to change your PIN immediately. Once you have updated it, please remember it and do not expose it to any third party. In cases where the cardholders have forgotten their PIN, they need to visit the UnionBank branches and request for a card replacement. In addition, they have to wait for at least 3 days to get a new card along with a new PIN. Apart from that, they will be charged a fee of P150. How to change my PIN? You cannot change your PIN online. You can only do so by accessing your cards at the UnionBank ATMs. Here are the steps to change your PIN: 1. Locate a UnionBank ATM 2. Insert your EON Visa Debit Card 3. Type the PIN which is given by the banker 4. Choose “Other Transactions” from the menu 5. Choose “PIN CHANGE” 6. Enter your favorite combination of number 7. Re-enter the new PIN number 8. Please do not leave your new card in the…

Read the Article

Verify Your PayPal Account Using the EON Visa Debit Card at Ease!

Nowadays, PayPal is one of the most popular and reliable online payment methods. If you wish to fully utilize your UnionBank EON Visa Debit card, it is best to link it to PayPal to easily perform online transactions worldwide.  Let’s have a look at the ways to link your EON account to PayPal. Read More: UnionBank EON Visa Debit Card First and foremost, you need to sign up for a PayPal account. You can get a PayPal account at their official website. If you are a Filipino, please select the Philippines as your residing country. At the same time, you may want to use peso as the primary currency to ease your daily transactions.

Read the Article

The Freelance Revolution with More Freelance Job Opportunities: The Official Launch of Elance in the Philippines

After the transition from an agricultural economy to an industrial economy, we are glad to witness another significant shift in today’s workforce. This shift is fuelled and accelerated by the rapid technology innovation, changing lifestyles and the growing Gen Y workforces. Nowadays, there are an increasing number of employees who leave the traditional workplaces and choose to piece together a professional life on their own.  Table of ContentsThe Freelance Revolution is Unstoppable!How Elance Sees the Online Freelance Platform in the Philippines?Getting to Know ElanceIt’s Time to Join the Freelance Revolution! The Freelance Revolution is Unstoppable! Starting an e-commerce business or working as a freelancer from home is becoming the order of the day.  With the lower start-up costs and technologies advances such as the iCloud and Paypal, it is easier to work independently or start an online retail business instead of running traditional brick-and-mortar businesses. In line with this, there is an increasing number of Filipinos using the Internet to find freelance work. How Elance Sees the Online Freelance Platform in the Philippines? In April 2013, an article in Yahoo!News[1] discusses how Elance expects a strong growth in the online freelance platform of the Philippines. The survey conducted by Elance, the world’s biggest online freelancing platform, shows that the Philippines now ranks fourth globally in the number of registered users and ninth in online freelancing earnings. In September 2012, Elance conducted a survey among 120 selected Filipino freelancers who had registered on Elance. The report was entitled “The State of Filipino Freelance Market”. This report revealed that the Filipino freelancers are specializing in administrative support,…

Read the Article

The Pros and Cons of Buying a House

All of us have dreams, and most of us share the same dream: to own a house. The application process for a housing loan can be burdensome and time-consuming. Before you devote your time to getting the approval for your home loan, spend some time to read through the pros and cons of buying a house. What are the advantages of buying a house? This question may seem irrelevant to those who are going to apply for a housing loan. However, when you are on the verge of breaking down due to the suffocating financial obligations involved, these are the reasons you should keep reminding yourself to keep holding on. Your perseverance in pursuing or defending your dream home will definitely paid off someday. On the long-term, the cost of ownership is lesser than renting a house. You have full control over your property. The acquisition of a house is actually a capital gain. It is an increase in the value of a capital asset (investment or real estate) as the property has a higher worth than the original purchase price. However, the gain is not realized until the asset is sold. Your property taxes can be itemized for tax reductions. You will have a sense of security that comes from owning a home as your home is well-protected from the inflation. Lastly, you can design, remodel and decorate your own home without any restrictions. Imagine the sense of pride and achievement that bubbling in your heart when you see your beautiful artwork. All the hard work paid off. Do not…

Read the Article

Philam Life Money Tree: When Is the Right Time to Invest?

If you have made up your mind to start investing, you may be curious on when is the right time to invest in the Philam Life Money Tree. However, if you are still weighing between saving your hard-earned money in a deposit account and investing your money in the Money Tree, just read on to clear your confusion!

Read the Article

Philam Life Money Tree: What Funds Can I Invest in?

It’s never too late to start investing and one will never get too old to invest. It doesn’t matter whether you are a defensive, conservative or aggressive investor, the Philam Life Money Tree can always adjust to your risk appetite by offering different types of funds within its portfolio. Read on to know more about it. Read More: Why You Should Invest in Philam Life Money Tree

Read the Article

Philam Life Money Tree (Part 1): The Best VUL Products in the Philippines?

Many Filipinos still believe that they can earn a great fortune by keeping their money in savings accounts. In contrary, this is not the case due to inflation. In this article, we will be discussing one product that can help you achieve financial freedom. One of the products of Philippine American Life and General Insurance Company (Philam Life), the Philam Life Money Tree offers promising and attracting returns of as much as 9% to 21% annually. Read more: 5 Best Books on Money Management Table of ContentsThe Philippine American Life and General Insurance CompanyPhilam Life Money TreeWhy Should I Invest in the Philam Life Money Tree?What Are the Risks Involved? The Philippine American Life and General Insurance Company The Philippine American Life and General Insurance Company (Philam Life) is the leader in the Philippine market for over 60 years. At the same time, it is also the largest life insurance company in the Philippines. Philam Life offers a wide range of products that provide effective solutions to a great variety of financial needs such as life protection, health insurance, savings, education, retirement, investment, group, and credit life insurances. Philam Life Money Tree The Philam Life Money Tree is an insurance policy with investment features. In other words, while enjoying the life insurance protection, Money Tree policyholders can also earn from the investments in the equities and fixed income securities within the Money Tree’s portfolios. When your money is well secured within the portfolio of Money Tree, you are also be insured with the guaranteed life insurance benefit of at least 125%…

Read the Article

PNB UITF Online Facility

The Philippine National Bank (PNB) has launched the country’s first comprehensive unit investment trust fund (UITF) online facility that allows its clients to invest and redeem funds at ease through the Web. Table of ContentsWhat Are the Benefits of PNB UITF Online Facility? What is the Auto Investment Plan (AIP)?How to Enroll in PNB UITF Online?What Are the Trust Products Offered by PNB? What Are the Benefits of PNB UITF Online Facility? Once your PNB UITF Online enrollment is processed by PNB, you will be able to perform various functions related to your UITF investment at your fingertips such as: Direct UITF investments Full and partial redemption services (The fund will be credited to the nominated settlement accounts) Purchases of additional UITF investments Track the real-time investment status View the UITF portfolios Generate the electronic copies of the Confirmation of Participation (COP) and Participating Trust Agreement Utilize the Auto Invest Plan (AIP) Use the UITF calculator to calculate the profits/losses If you wish to know the general benefits of investing in an UITF product, please click here. What is the Auto Investment Plan (AIP)? The Auto Invest Plan (AIP) is a facility that allows you to put aside a portion of our savings on a regular basis for automatic investment on your chosen PNB UITF once it reaches the required threshold amount. This way you can earn potentially higher returns in comparison to a traditional savings deposit. How to Enroll in PNB UITF Online? With a stable internet connection and a laptop/mobile device in your hand, you can complete the…

Read the Article

How to Open a Kid’s Savings Account?

A journey of a thousand miles starts with the first step. The first step is ultimately important to steer your kids toward a bright and sound financial future. This could be done by opening a kid’s savings account for them. What are the criteria that you shouldn’t overlook so that you can ensure the safety of your child at home and the safety of their money in the bank? Table of ContentsCriteria For A Kid’s Saving Account1. Proximity to the bank2. Interest rate3. Types of bank saving accountsSTATEMENT ACCOUNT PASSBOOK ACCOUNTS4. Banking / Service Fees5. Required Documents Criteria For A Kid’s Saving Account 1. Proximity to the bank The idea of driving for several hours whenever your kids require a visit to the bank wouldn’t be an appealing for you. It is smart to ensure finding a bank in your neighborhood or at a location that’s convenient for you. 2. Interest rate In order to get your kids the best savings account, pay close attention to the following: The annual interest rate Whether it is a tax-free savings account Minimum monthly ADB requirement Minimum maintaining balance to earn interest. 3. Types of bank saving accounts STATEMENT ACCOUNT Your child will get a monthly report of the account such as the deposits and withdrawal that have been done, the interest that has been credited as well as any banking service fees.  PASSBOOK ACCOUNTS Your child will get a little booklet that every transaction such as deposit and withdrawal will be posted into. 4. Banking / Service Fees Don’t ever let any statement regarding the banking or service fees slip through your fingers. Otherwise, you…

Read the Article

The UCPB Kiddie Max Savings Account

Money doesn’t fall from the sky, it doesn’t grow from trees, nor will it accumulate by just sitting in a piggy bank. If you want to educate your kid on the concept of money and how it works in real-life, you might want to consider putting money in a real bank. Table of ContentsThe Real Piggy BankUCPB’s Kiddie Max Savings AccountZero Maintaining Fees The Real Piggy Bank It is highly valuable to introduce your kids to the world of finance and banking. To ensure that their curiosity and interest towards money management remains strong, providing them with a simple, reliable – and most importantly: no-frills – kids savings account can be of great help. One product to look into is the UCPB kiddie max savings account. UCPB’s Kiddie Max Savings Account UCPB’s Kiddie Max Savings Account, the latest savings product offered by United Coconut Planters Bank (UCPB), is one of the most convenient and kid-friendly savings accounts in the market today. Age: 0-18 years old Min. Initial Deposit: 500.00 pesos Min. Balance: 500.00 pesos Annual Interest rate: 0.25% (Minimum ADB to earn interest is 10,000 peso) Monthly Maintaining Balance: None Account holders and their parents / guardians will be able to manage their funds and monitor their transactions with their own passbook or an ATM card. At the same time, parents/guardians could transfer fund from their own UCPB account by phone banking or via online. Zero Maintaining Fees Many banks charge fees for certain behaviors that customers don’t realize are actually costing them money. However, one of the most attractive attributes…

Read the Article