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

Smart Tips to Get Approved for a Business Loan

In business, there comes a point when getting external funding becomes a necessity. It may be for growth and expansion or simply to push through during tough times. Regardless of the reason, it is undeniable that getting a business loan approved is a great option when looking to acquire extra cash for your company. The thing is, not all applications merit guaranteed approval. Your company’s financial standing and credit score, among others, can easily influence how lenders assess your loan request. This is why it is important to come fully prepared. Read on further to discover key requirements and tips to help get your business loan approved. Common Business Loan Requirements Although this may vary depending on the lender and purpose, the following are the most common business loan requirements: Two (2) valid IDs Marriage contract (if applicable) Photocopy of audited financial statements for the last 3 years Income Tax Returns (ITRs) for the last 3 years Bank statements or photocopy of passbook for the last 6 months Company Profile For sole proprietorships: – Certificate of Business Registration from DTI For partnerships: – Certificate of Registration from SEC – Articles of Partnership For corporations: – Certificate of Registration from SEC – Latest amended Articles of Incorporation and By-Laws – List of elected officers – Board Resolution or Secretary’s Certificate You should already have most, if not all, of the requirements listed above. The only thing you have to do is to compile these records. However, as mentioned earlier, a complete set of documents does not guarantee that your business loan…

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How Flexible Workspaces Can Help Companies Save Money Post COVID-19

The COVID-19 pandemic has hit nearly everyone around the world and has forced millions around the globe to work-from-home; a trend that we already started to see increase prior to the outbreak. When we are allowed to return to our offices, they’re likely going to be quite different with social distancing measures and health and safety measures implemented into office design. We’re likely going to see more automatic doors, more spacing between desks, reduced space dedicated to open floor plans, and more spacious meeting rooms. When it comes to flexible workspaces there will be an increased focus on private offices rather than hot desks. In short, social distancing policies will be embedded into office spaces. Flexible Work Arrangements in The New Normal Flexible work arrangements will become the new normal for companies. As employers see that remote work does in fact work, policies allowing for more flexible arrangements will become formalized. Likewise, these flexible arrangements are an avenue to help companies cut costs as well as avoid layoffs. By reducing leases and offering alternative workplace options to employees, companies can save up to 25% on costs[1]. Another push for flexible arrangements for employees is the density of their office spaces. In terms of health and safety, companies will likely look to de-densify their spaces by reducing the number of employees in the office and spreading out workspaces[2]. This can be achieved by allowing flexi time schedules, work-from-home policies, as well as moving entire teams to another location to avoid mass disruption when another outbreak occurs. Read more: Work from Home:…

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7 Money Habits of Highly Successful Millennials

Just like muscle building, achieving success takes time. It involves building a habit, which allows your small results to snowball into something bigger in the future. Just like how Manny Pacquiao exercises every day so he can win an upcoming fight. This goes the same way financially. The little consistent things you do for your financial matters provide a glimpse of your financial future. So if you don’t have good money habits, don’t expect to yield good results. You see, success is not an accident. It’s intentional. If you want to achieve your financial goals, learn from the money habits of highly successful millennials. Money Habits to Reach Your Financial Goals 1. Investing early to create passive income Don’t wait for your senior years before you decide to make any investments. The best time to start an investment for millennials is now. One benefit of investing early is that you can have better financial results at a later time. Passive income may come from different forms such as pension, dividends, capital gains, and other insurance benefits. Make ways for you to make investments. This will only be possible if you don’t embrace the idea of “YOLO”, leading you to habit number two. 2. Delaying instant gratification Did you just lay eyes on cool sports shoes while strolling inside the mall? Suddenly, you imagine yourself preparing for your next mountain hiking activity. While you still have shoes that you can use for your upcoming adventure, you’re still tempted to buy a new pair. Don’t. You don’t need it. Wants should only…

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6 Big Challenges Startups Must Prepare for in the First Three Years

Startups have been an ongoing trend these days, with technology playing a vital role in their proliferation across the globe. However, there has been a cause for concern as the numbers don’t fall favorably on the entrepreneurs. In the U.S. alone, the rate of startups and small businesses being created are now lagging behind their rate of closures, according to a U.S. Census Bureau report. Of the 400,000 businesses that were set up, 470,000 have closed. There is always a reason why businesses fail, more so for startup companies that dared to give it a shot armed merely with a superb idea. In most cases, they weren’t able to make it big due to the lack of preparation, with the whole gamut of operations being run into the ground by ill-equipped individuals. Failure may be a huge setback when starting a business, but this shouldn’t discourage aspiring entrepreneurs who want to follow their dreams and venture out on their own. To boost the likelihood of success, they should come into it immensely prepared. In the immortal words of Louis Pasteur, ‘chance favors only the prepared mind.’ The key to making your preparation efforts to work is to identify each of the challenges that may hamper the growth of the startup business. Big Challenges Startups Must Prepare for Building a Solid Team A workforce consisting of a competitive, passionate, responsible and talented pool of individuals is the most basic foundation of a successful startup company. For this reason alone, your immediate goal is to hire and train the most effective people…

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5 Unique and Family-Friendly Vacation Ideas for the Holiday

Getting lost and experiencing weird and wonderful travel moments with your family make for unforgettable memories. Crazy family vacation ideas can provide lifelong memories, but to make sure that everyone’s satisfied, we should remember to look for fantastic attractions that are perfect for all ages. For your ‘ber’ month vacation (or those well-earned vacation leaves!), we’ve put together a list of totally creative, yet family-friendly places for your entire family to enjoy. Check out these five vacation ideas and save money with the help of KKday while at it.  1. Osaka, Japan: Akiba Kart Racing Address: 3 Chome-3-9 Nipponbashi, Naniwa Ward, Osaka City, Osaka Prefecture Unleashing the competitive side of each family member, Akiba Kart Race is a definite must-try for both kids and adults. Speed your way to different sightseeing streets such as Osaka Castle, Tsutenkaku Tower, and other busy shopping districts in Japan while wearing cute costumes that’ll make you feel like you’re in a real life Mario Kart game. 2. Taiwan: Tamsui Beach Horse Riding Experience[1] Address: Baishawan, New Taipei City, Taiwan Who doesn’t love a family beach trip? Taiwan may not be known for their fresh water and sandy beaches, but Shalun beach is definitely our favorite hidden sandy paradise. Catch glimpses of Japanese colonial influences and western-style architecture at nearby residences. Did you know that Tamsui is most known for its iconic sunset at Fisherman’s Wharf? Elevate your regular sunset watching with this horseback ride activity. Ride into the glorious sunset and take in the romantic environment at your ideal pace. 3. Malaysia: LEGOLAND Address:…

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How to Live a Millennial Life in the Mountain Province

The views from your bedroom can be quite postcard-perfect; most veggies and fruits are usually fresh and come straight from the farm, and there’s virtually no vehicular traffic and rush hour to deal with. Those quaint and charming little villages farther north of Baguio[1] could be more than just a place to spend the long weekends at. Below are some tips to how to live a millennial life on a mountain province. Consider Freelancing If you prefer to do freelance projects and would rather work in the comforts of your own home, moving up north in the mountain villages of the Cordillera region is actually something to consider. As mobile technology becomes increasingly available in areas that were once considered remote, escaping the chaos of Metro Manila’s traffic-ridden streets and the high cost of living in a metropolitan city has now become a realistic option. Take the case of relocating to Sagada in Mountain Province. This once charming mountain village has become more popular with tourists during long weekends and the holidays. A few of those who have been enamored by its pine trees, waterfalls, rice terraces, a gazillion trekking routes, and a complex cave system have actually moved there to do freelance work. Mobile and internet connections are relatively strong and are often available 24/7 unless the province and the entire region is battered by a super typhoon. In case you find Sagada a bit touristy, there are nearby villages on the outskirts that you might want to consider. These villages are what Sagada was like 30 or so…

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What are Millennials Looking for in a Home?

It is estimated that millennials – roughly defined as those born between the early 80’s to the early 2000’s – will make up for half of the global workforce by 2020. In the Philippines, millennials already make up for a third of the country’s population. They are already either working their way up the corporate ladder or already at the prime of their careers; thus, they are in the best position to invest in a property. Real estate developers are recognizing this and are coming up with concepts designed to appeal to this segment. But, what are millennials looking for in a living space? Here are some key insights. Millennials prefer a condo over a house While the majority of Filipinos still prefer to own a home, millennials are going for condominium units for the convenience and security they represent. Round-the-clock security and having amenities such as a gym, swimming pool, and function rooms for entertaining friends are important as these complement their active, cosmopolitan lifestyle. They would opt to rent Millennials value mobility and travel and are very open to relocating for work should a good opportunity arise. Compared to generations before them, they do not see themselves being tied down to just one job or city in their lifetime. Because of this, they are keen on renting a place rather than acquiring one. In fact, Lamudi’s 2017 Real Estate Market Report revealed that over two-thirds of its 600,000-strong users were more interested in renting than buying. Moreover, expenses could be shared with potential flatmates. Location is life As…

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A Snapshot of the Asian Couponing Market

In the world of commerce, the humble coupon has always maintained its place in the value chain. After all, who doesn’t want to pay a few dollars less, get free shipping, or take home that exclusive free gift? With a history dating back to the Gilded Age of the late 1800’s, the coupon has carried people through the depression and has offered some degree of respite during the communist era. For a brief period in the 60’s, the coupon even became the poster child of family togetherness where Sunday morning coupon-clipping was a more popular activity than baseball or war protests! It has learned to evolve with the times and has been flexible enough to adapt to the consumers ever changing needs. The coupon is nimble, and has to a degree, transitioned from print to digital in a seamless fashion. In fact, a recent study by GfK tells us that 70% of consumers in America still look to traditional paper-based coupons for savings. It’s not an old person thing to do either, as 63% of these users come from the millennial age category. Couponing and the Asian Psyche A little closer to home, the physical coupon scene stands in stark contrast to the norm of the West. You can pick up any newspaper from around the Asian region, and be hard-pressed to find more than one tiny cut-out segment. Promotional flyers are handed out freely on the streets and in malls but are rarely redeemable, and we curse out loud whenever a sneaky merchant tries to give us some savings over SMS. Although we Asians are…

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12 Ways to Get a Flight Upgrade Without Paying Extra

Dreaming of flying lavishly on a first or business class flight without having to pay the hefty price tag? Being nice and doing a little flirting with the cabin crew are some ways to score an upgrade on your flight. However, if these don’t work for you, Skyscanner[1] has a few more handy travel hacks and industry insider tips that will help you bump up to first or business class. Read all about them below. Ask and say “please” and “thank you” Sometimes, a smile and a positive attitude can go a long way. Simply ask the airline’s agent to be considered or listed if flight upgrades are being granted for your trip. While it seems a pretty simple trick, a friendly approach can do wonders for almost everything in life, including air travel. Just don’t forget to say the magic words, “please” and “thank you”, and top it with a friendly and genuine smile. Take advantage of loyalty points Joining an airline’s frequent flyer is a sure-fire way to score flight upgrades for your future trips. Remember, airline companies reward loyalty points and the first cluster of free flight upgrades will most definitely go to their loyal frequent flyers. Dress to impress Trust us, you have a better chance of scoring a flight upgrade if you look sleek and are smartly dressed. So, ditch the flip-flops and torn shorts to get a free flight upgrade on your next adventure! Avoid peak seasons  Business travelers, for the most part, are members of an elite frequent flyer program, meaning it will be…

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