All Articles With Category : Personal Finance

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

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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Why You Should Invest in Philam Life Money Tree

If you are investing in a long-term investment instrument such as the Philam Life Money Tree, you can avail of the great variety of benefits such as the professional fund management and the protection from a life insurance. Read on to discover more of the advantages offered by the Philam Life Money Tree! Read more: What funds I can invest in through The Philam Life Money Tree? Table of ContentsGrow Your Money in Philam Life Money Tree!Your Investment Is Managed by Professionals!The Philam Life Money Tree Is A Variable Unit Linked (VUL) InsuranceWhat are the Other Privileges I Can Avail with the Philam Life Money Tree? Grow Your Money in Philam Life Money Tree! If you think that savings is your sole form of investment, you are making a big mistake! This is an investment for the banks, not yours! Your money is losing their value in the banks each day due to inflation which always increase with time. On the other hand, when you are investing, you are actually making your hard-earned money works hard for you. According to an article in The Philippine Daily Inquirer, you can earn only 1.04% yearly interest from the bank deposits. Meanwhile, the inflation rate of the Philippine hit 2.80% in 2013. Just one glance at this figure and it is easy to tell that your interest is being eaten up by the inflation! You can avoid by shifting your hard-earned money to the long-term funds such as those offered by the Philam Life Money Tree. (If you wish to know more about the…

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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!

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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

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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%…

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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…

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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…

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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…

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