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…

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10 Ways to Have a Debt-Free 2014

It’s the Chinese New Year and we all hope to start on the right foot for all our 2014 plans. However, this is a little harder to pull off if you had plenty of debts to take care of the past year, with one or two still dogging your footsteps every way into the new year. You and your credit card company certainly aren’t going to be happy with each other if you continue side-stepping the issue. So, here are some ways to handle your debt wisely: Table of ContentsKnow where you stand.Track and budget.Stop creating new debt.Pay more than the minimum payment.Pay off debt with the highest interest rate first.“Snowball” your debts.Balance transfer.Use your life insurance.Find your motivation and support.Track your progress and reward yourself. Know where you stand. Before you pay your debts, know where you stand. List all your payables and figure out how much you owe. You’ll never hit your target if you don’t know what it is; be brutally honest with yourself. Track and budget. Get an accurate sense of your monthly spending and track your costs. This will serve as the foundation of your budget. After that, get an ax and take away all your wants and focus on your needs. Cut out Friday nights, some pizza meals, and some movie dates. It can give you the jumpstart you need to get started on clearing away your debts. Stop creating new debt. It’ going to be impossible to get rid of your debts if you don’t control your spending habits. Bear in mind that you badly…

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Five New Year’s Resolutions to Help You Save Money for 2014

As the New Year inches closer, you might be thinking of making a list of your New Year’s resolution. You might be thinking of going to the gym more to lose weight or gain muscles or you promise yourself to run more this year and that’s all well and good. However, you could also promise yourself that you will take several financial steps to help you save money for next year. Here are five New Year’s resolutions to help you save more money for 2014. Dine Out Less Going out for dinner with your loved one is fun—but it can also be expensive. Aside from your actual restaurant bill, you’ll have to pay for gas and parking fees and it’s also easy to do something else when you eat out—like watching a movie or going on a trip to the arcade. Before you know it, you’ve spent quite a sum of money for more than the simple dinner you originally planned. Keep dine-outs at a minimum. You could try to promise yourself to eat out just once every two weeks to save up on costs—or, learn to cook! You and your date could stay-in and whip up an exotic dish for which you could get the recipe online or watch the instructional video from YouTube. Make a Budget and Stick to It For the coming New Year, take some time to write down your expenses and build a budget around those expenses that fits your income. Your recurring expenses such as water and electric bills, or maybe even monthly housing…

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Cutback in U.S. Stimulus Affects the Philippines

The Philippines felt the impact of the announcement made by the U.S. Federal Reserve that it will scale back its stimulus efforts starting January 2014. The Philippine Peso weakened to a three-month low against the U.S. dollar after the U.S. Fed announced they will cut their monthly $85 billion bond-buying program by $10 billion to $75 billion. he Philippine Star reported that the peso lost 17.5 cents to 44.435 to a dollar following the news. Other Asian currencies also fell after the news of the stimulus scale back. Indonesia’s rupiah fell to a five-year low while Malaysia, Singapore, and Thailand’s currencies also fell to a three-month low like the Philippine peso. Federal Reserve Chairman Ben Bernanke said the Fed’s move reflects “the committee’s assessment that the economy is beginning to make progress.” He adds that “it also has much farther to travel before conditions can be judged normal.” USA Today said the Fed will purchase $40 billion in Treasury bonds and $35 billion in mortgage-backed securities come January. The bond-buying program is meant to keep interest rates low and spur economic growth. However, interest rates have gone higher with the average 30-year fixed mortgage rate rising from 3.35% in May to 4.42% when the Fed first started to signal that it will scale down its bond-buying program that month. Since the program began in September 2012, the U.S. jobless rate has fallen to 7% in November from 8.1% and nearly 3 million jobs have been added. The Fed has increased its economic forecast slightly. They expect the economy to grow…

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Pick One: the Apple iPhone 5S and Samsung Galaxy S4 and their Plans from Globe and Smart

Globe and Smart have launched Apple’s latest flagship model, the Apple iPhone 5S, in the Philippines last month. The latest model updates some features of the iPhone 5 that was released a year earlier. Samsung, the other top handset maker, also has the Galaxy S4 which was released in the Philippines earlier this year. The Apple iPhone 5S and Samsung Galaxy S4 are two of the most desirable phones this season and Philippine telecom carriers are offering plans around these two models. Let’s look at the features of these two phones and see how they stack up against each other. Table of ContentsSize MattersUnder the HoodSmile for the Camera!Power Up!Samsung Galaxy S4 Postpaid Plans from Smart and GlobeApple iPhone 5S Postpaid Plans from Smart and Globe Size Matters The first thing you would notice if you compare the Samsung Galaxy S4 to the iPhone 5S is the difference in their overall size. The Galaxy S4 is bigger than the iPhone 5S and the GS4 has a much bigger screen than the iPhone. Some could find the Samsung phone to be bulky and prefer a phone that is easier to grasp like the iPhone 5S. However, those that are OK with its size can get to enjoy all of the benefits of having a bigger screen so reading e-books and playing games on the phone can be much more enjoyable. The other downside to the size of the GS4 is that it is heavier than the iPhone S4 so the GS4 puts a little more weight in your pocket. Under the Hood Powering…

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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…

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Philippines Posts Positive Figures for September Foreign Direct Investments and October Exports

The Bangko Sentral ng Pilipinas (BSP) recently announced that net foreign direct investments (FDI) to the Philippines climbed 141.4% in September 2013 to $319 million. The country posted $132 million for the same period last year. The central bank attributed the growth in FDI to the favorable outlook on the Philippine economy. Net inflows on foreign direct investments were seen on equity capital, reinvestment of earnings, and placements in debt instruments. Investment made by non-residents on debt instruments issued by local affiliates saw a significant increase from $10 million a year ago to $267 million in September. Net foreign direct investment inflow for the Philippines grew 33.3% to $2.3 billion for the first nine months of the year. Non-residents’ net placements in debt instruments of local affiliates for the first nine months of the year saw a six-fold increase to $2 billion compared to just $328 million last year. Equity capital saw net inflows of $7 million for September and gross equity capital placements came mainly from the U.S., the U.K., Japan, the Netherlands, and Hong Kong. These funds mainly went to the financial and insurance sectors as well as real estate, manufacturing, mining and quarrying, and professional, scientific, and technical activities. Exports Also See Growth The National Statistics Office also reported positive numbers for the country’s exports. The NSO reported that merchandise exports for October 2013 are up 14% year on year to $5.03 billion. This takes the total export earnings from January to October to $45.09 billion, a 1.3% increase from the previous year’s figure. The Philippines exported…

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Globe and Smart iPhone 5S and 5C Plans

Globe Telecom and Smart Communications, two of the biggest telecommunications companies in the Philippines, have released their own pricing schemes for two of the latest iPhone models, the iPhone 5S and 5C. Globe originally planned a grand event for the launch for the new iPhone models last November 15 but then toned it down to redirect efforts onto helping those affected by Typhoon Yolanda. Smart chose to tone down the fanfare of their launch as well, choosing to combine their launch event with something more meaningful by letting various relief organizations use the space they rented for the launch for various information and donation drives for the victims of the typhoon. Globe and Smart iPhone Plans: Points of Differentiation Now, less than two weeks after the original launch date, Globe has even lowered its price for the iPhone 5C and 5S under their Best-Ever mySUPERPLAN. Under Globe’s customizable plan, subscribers can get the 16GB iPhone 5C model for P1,349 through the Plan 499 that comes with a monthly cashout of P850 for two years. Smart is also offering the 16GB iPhone 5S under their Plan 500. There’s a one-time phone payment of 23,800. To further compare Smart and Globe’s iPhone plans, let’s look at the P999 monthly plans for the 32GB iPhone 5S next. For Smart, this plan comes with 40 minutes of calls, 100 texts, and unlimited data. There’s a one time phone payment of P15,000. For Globe, you can get the iPhone 5S 32GB for the plan 999 with a P28,800 cash-out. You can choose to get a…

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Philippine Economy Grows 7% in 3Q 2013

The Philippines Gross Domestic Product recorded a 7% growth in the 3Q of 2013. The figure is lower than the one recorded in the previous year—which stood at 7.3%. Despite this, the 7% growth was enough to push the growth in the first nine months of the year to 7.4% from just 6.7% of the previous year. The National Statistical Coordination Board reported that the GDP growth in the third quarter of 2013 was driven by increased investments in Fixed Capital. Helping drive the growth was consumer and government spending as well as growth in external trade. Interaksyon quoted Socio-economic Planning Secretary Arsenio Balisacan as saying that the Philippines’ GDP growth in the third quarter put it in second place behind China as Asia’s fastest-growing economy. China recorded a 7.8% GDP growth for this period. The same article noted that the 9.7% expansion in Manufacturing and the 8.2% growth in Industry helped drive GDP growth for the 3rd quarter. Services grew 7.5% while agriculture fell 0.3% due to the 10 storms that entered the Philippines. To highlight the effect of storms on the economy, Secretary Balisacan says Typhoon Yolanda, which made landfall in the Philippines last November 8, likely cost the country 0.3 to 0.8 percentage points in terms of economic growth. The December 2, 2013 situation report from the National Disaster and Risk Reduction Coordinating Council put the cost of damage from Typhoon Yolanda at over P34 billion. Damage to crops was close to P7 billion while damage to fisheries is close to P6 billion. Balisacan said they are…

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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…

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Pay Your Purchases with Citi Platinum Card Reward Points

Almost every Citibank credit card in the market offers an exclusive and attractive reward program to their cardholders. This allows cardholders to accumulate a considerable amount of points in their cards. Only a few of them know how to redeem their rewards and put the points to good use. Table of ContentsI Want to Make the Most of My Hard-earned MoneyShop Till Drop With the Reward PointsShop at Any Place You Want and Pay with Your Reward PointsHow many reward points do I have?Creating Change with your Card I Want to Make the Most of My Hard-earned Money With the Citi Platinum Card (also check Citi PremierMiles credit card), the reward points are as good as cash. You can pay for your purchases from over 175 brands and 2000 retail branches in the Philippines. (Click here for a complete list of the merchant partners) Every 10 points are equal to P1.00. Shop Till Drop With the Reward Points Shop at any partner stores and grab the items you want! At the counter, you just need to present the Citi Platinum Card and tell the cashier that you want to pay with points. You can use the card to pay the entire purchases. Otherwise, you can as well pay with points for a portion and charge the remaining amount to your credit card. Apart from the amount paid by the points, you can as well reduce the interest rate you need to pay at the end of the month. Shop at Any Place You Want and Pay with Your Reward Points With…

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BPI ePrepaid Cards : For Shopping Enthusiasts

In this article, we will be discussing the features of BPI ePrepaid Cards. Unlike the BPI eCredit Card which can only be used for online purchases, the BPI ePrepaid cards can be used for both online as well as in-store purchases. How to Use the BPI ePrepaid Cards for Online Purchases The steps are similar to how you use a credit card to make online payments. 1.  Select the MasterCard Credit Card as mode of payment. 2.  Key-in the following card details: 16-digit of the ePrepaid Card number Card Verification Code 2 (which is the last 3 digits found at the signature panel of the back of your card) Card Validity Period 3.  Confirm the transaction. After having completed your online payment, wait for the items in your online shopping cart to be shipped to your house. How to Link the BPI ePrepaid Cards to Your PayPal Account If you want to link the ePrepaid card to your PayPal account, just follow these steps: Log-in to your PayPal account. Click Profile Select Add/Edit Credit Card Select MasterCard as card type Enter your  ePrepaid Card details Click Add Card Before linking your ePrepaid Card to your PayPal account, make sure that your card has at least P150 balance. You will be charged $1 for linking your card to the PayPal account, and another P100 for the card verification process. However, the P100 will be returned after your card is successfully verified by PayPal. How to Use the BPI ePrepaid Cards for In-store Purchases? No one likes the idea of fumbling for coins and money paper in…

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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…

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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…

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Password Migration of UnionBank Online Accounts Is Coming Soon! (Part 2)

Password migration is an approach to ensure that our information online is well protected. This minimizes the risk of being hacked when we are accessing your accounts online. By migrating to an 8-character alphanumeric password, Unionbank assures security for online bankers. Table of ContentsDo I Need to Change my Login ID and Transaction Passwords?A New On-Screen Alphanumeric Virtual KeyboardIt’s still not the right time to forget your old password Do I Need to Change my Login ID and Transaction Passwords? Your login ID and transaction password will remain the same. You can continue to use your original transaction password to authorize and conduct financial transactions. The changes will only affect the password you need to login the UnionBank Online Account and EON Account. Your transaction password is not affected by this migration. What about the users’ IDs? The user ID is actually the ATM card number. It can be nominated upon the enrollment. Thus, users need to consider properly when they are going to nominate a new user ID as it is permanent throughout the lifespan of the accounts. A New On-Screen Alphanumeric Virtual Keyboard The use of an on-screen virtual keyboard is actually a security enhancement. The UnionBank adopts this on-screen virtual keyboard to protect you from key-logging and unauthorized login techniques. As the 8-character length password will need to include at least one alphabet, the previous virtual numeric PIN pad which is used to log in to the UnionBank Online Banking is no longer suitable. It will soon be replaced by a new alphanumeric keyboard to enable online banking users…

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Password Migration of UnionBank Online Accounts is Coming Soon! (Part 1)

With EON Cyber Accounts and other UnionBank accounts that can be accessed online, we can manage our money and conduct daily money transactions such as fund transfer and bill payment conveniently. In addition, we can also monitor our accounts on the Internet to detect any errors or unauthorized transactions. Right now, UnionBank is going to reinforce their existing layer of protection against identity frauds. Read on to find out more about this upcoming security feature. Table of ContentsThe Migration of Password to Login UnionBank Online Banking AccountsThe Need for Migration of PasswordsWho Will be Affected by this Change? The Migration of Password to Login UnionBank Online Banking Accounts As the safety of online banking becomes one of the greatest concerns among Filipinos, UnionBank is implementing the migration of passwords to log in to EON Cyber Accounts and other online UnionBank accounts. This migration will be done gradually over the next few weeks to ensure a smooth transition. The Need for Migration of Passwords The migration of passwords is an approach to reinforce the security of the UnionBank Online Banking login process. Soon, the UnionBank will introduce a new system. This system will upgrade the current 4-digit PIN to an 8-character alphanumeric password. The 4-digit PIN here refers to the PIN that use to access the ATMs. Soon, the users are requested to create a new password of 8-character length, with at least one alphabet and one digit. Special characters are allowed but are not compulsory. However, it is recommended for you to use them as they will make your password harder to be guessed…

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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.

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The Problems that You May Face in a PayPal Transaction

PayPal is one of the most popular payment gateways online. To avoid potential risks and errors that may happen during PayPal transactions, PayPal has implemented a comprehensive security system. Read on to find out what problem you may face in the PayPal transactions. Table of ContentsThe Sending LimitPreferred Payment MethodHow About Unclaimed and Denied Payments?Can I Cancel My Payment?PayPal Minimizes the Risks You may Face when Shopping Online The Sending Limit As an online shopper, you have to watch out for the sending limit. PayPal imposes a limit on the amount of money you can transfer out in each transaction. This is a measure to minimize your loss due to unauthorized transactions and online frauds. Your sending limit will be increased once your PayPal account is verified. If you wish to know your sending limit, you can view it on the “Account Overview” page. Preferred Payment Method Every time when you pay your purchases, you can choose among the great variety of payment methods. If you do not select the “Preferred Payment Method” option, your PayPal Account Balance will automatically be used to pay your purchases, as long as there is sufficient money in your account. You can choose your preferred payment method when making your payment. For instance, you can set a PayPal Credit product or your own credit card in the “Preferred Payment Method”. In the case where the users do not choose their preferred payment method, Paypal will fund their transaction using various financial products in the order of: PayPal Account Balance Instant Transfer from your bank account PayPal Credit…

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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,…

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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…

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