All Articles With Author : Moneymax

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

How to Make Voluntary Contributions to Pag-IBIG, PhilHealth, and SSS

Did you resign from your job to become a full-time freelancer, OFW, or a business owner? Paying your Pag-IBIG, PhilHealth, and SSS contributions is no longer your former employer’s responsibility—you have to do voluntary contribution from now on. It’s important to continue your contribution payments with these government offices as a voluntary member. You can avail of a personal loan or housing loan, benefits (such as sickness, maternity, and retirement benefits), and health insurance—only if you meet the required minimum number of contributions. Here are the things you need to do if you’re planning to continue your voluntary contribution to Pag-IBIG, PhilHealth, and SSS. How to Update Your Membership Records for Voluntary Contribution Before you can start remitting your voluntary contribution, you need to update your membership status with Pag-IBIG, PhilHealth, and SSS from employed to self-employed or OFW. It involves going to each of the government agency’s branch and filling out a form. You may be also required to present supporting documents. How to Change Your Pag-IBIG Membership Information Download and fill out the Pag-IBIG Member’s Data Form (MDF)[1]. Under Membership Category, mark the appropriate status (OFW or Self-Employed). Submit the accomplished MDF together with your supporting documents to the nearest Pag-IBIG branch. Get a Payment Order Form and proceed to the Cash Division to pay your Pag-IBIG contribution. Pag-IBIG Requirements for Changing Membership to Self-Employed: Two (2) valid IDs Latest income tax return (ITR) with last year’s CPA-certified financial statement Employee Statement of Accumulated Value (ESAV)* Business Permit or Mayor’s Permit DTI or SEC registration under your name…

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SB Finance Car4Cash Guide: How to Get a Loan Using Your Car’s OR/CR

There will be a few instances in your life when you’ll need a great amount of cash immediately. You may be planning to renovate your home, fund your child’s education, or start a business. You may be also dealing with emergency expenses, such as a family member’s hospitalization. In such situations, you may find yourself going to a jewelry pawnshop. But such places, however, can only offer so much. If you have a car, why not get a loan using your OR/CR? When it comes to that, SB Finance Car4Cash is one of the best options that you can go for. Below are some of the important things you need to know about this car title loan and how it can help you with your situation. What is SB Finance Car4Cash? Car4Cash is an unsecured loan from SB Finance, a partnership between Security Bank and Thai bank Krungsri. This auto title loan is for vehicle owners who need quick cash. When you apply for the SB Finance Car4Cash program, you’re submitting your car’s OR/CR (Official Receipt and Certificate of Registration) for safekeeping so that you can borrow money. The amount you’ll receive, however, will depend on the appraised value of your car. So, in essence, a car that has received proper maintenance and upkeep may fetch a larger loan amount. Read more: OR/CR Sangla Guide: All About Car Pawning in the Philippines Borrower’s Guide to Unsecured Loans in the Philippines What are the Benefits of Car4Cash? SB Finance Car4Cash comes with many benefits for car owners in need of quick…

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10 High-Paying Jobs for Fresh Graduates in the Philippines

It’s no secret that COVID-19 changed the landscape of employment here in the Philippines. According to the latest job report from JobStreet[1], over 2 million workers were displaced since the pandemic happened. As someone who is fresh out of school, you’re probably wondering if there are still high-paying jobs in the Philippines you can apply for. Surprisingly, yes there are! There was even a viral post about an applicant rejecting a PHP 37,000 starting salary for an entry level marketing associate job simply because the applicant expected more[2]. So don’t lose hope just yet because the future is still bright for the likes of you. Here are some top-paying jobs you should consider if you want to earn money quick. Top Industries Hiring During the Pandemic As of May 2020, over 37,000 jobs are currently available for your taking. 63% of those JobStreet listings are education-related while 10% of them are related to maintenance services. The top industries hiring right now includes BPO, human resources, government, and education sectors. You may find these listings in online job sites so the choice is still yours to make. Top High-Paying Jobs in the Philippines for Fresh Graduates 1. Medical Officer Average Monthly Salary: PHP 59,353 It’s no surprise that the healthcare sector needs all the help they can get during the pandemic. So if you’re looking for highest-paying jobs in the Philippines and you don’t mind becoming a frontliner, try looking for medical officer listings online. Your hard work will be rewarded with a high salary starting at PHP 50,000 and above….

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Visa vs Mastercard: Which Credit Card Network is Better?

During the credit card comparison phase of your credit card journey, you’ve probably encountered cards that have either the Visa or Mastercard logo in them. Ever wondered what’s the difference between Visa and Mastercard? Will it affect your choice if one card payment network is somehow better than the other? But wait, what exactly is a card payment network? On a nutshell, credit and debit cards work because card payment networks like Mastercard and Visa provide the systems that process all the card transactions between merchants and banks. They instead partner with financial institutions like banks to distribute the cards to potential clients. And because they’re not the ones issuing the cards, they are not in charge of setting the interest rates, annual fees, and other credit card features. But Visa and Mastercard do offer perks and benefits that are exclusive to each of them. Here are the things you need to know about two of the largest card payment networks in the world. Comparing the Similarities with Visa and Mastercard Mastercard and Visa have a lot more similarities than differences. Here are the most notable features that both credit card networks offer: Worldwide Acceptance Millions of merchants in over 200 countries worldwide accept both credit card networks. Whether your card is a Visa or Mastercard, you can use it to pay in just about every establishment that accepts credit cards here and abroad. Most places that take Visa also take Mastercard, and vice versa. This is a huge advantage of Visa and Mastercard over other credit card networks such…

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DTI Loans for Small Business: How to Apply for P3 CARES 2 Program

Since the implementation of community quarantines, small businesses continue to be affected by business closures, shortened operating hours, reduced workforce, and continuous expenses. All these business challenges have resulted in unstable cash flow and income losses.  Because of this, many businesses have implemented adaptive business measures, like implementing work-from-home arrangements, using online platforms for all transactions, reducing costs, and diversifying products and services. Aside from these, the government continues to provide financial assistance to help small businesses recover from the adverse impact of the pandemic.  The Department of Trade and Industry’s P3 CARES Program offers collateral-free and interest-free loans to micro, small, and medium enterprises (MSMEs) in the Philippines. Find out how these DTI loans for small businesses work and how you can avail of them.    DTI Loans for Small Business in the Philippines The Department of Trade and Industry (DTI) and Small Business Corp. (SBC) launched the COVID-19 Assistance to Restart Enterprises (CARES) Program. The SBC CARES Program helps entrepreneurs get back on their feet. CARES offers DTI loans of up to PHP 500,000 and is part DTI’s Pondo sa Pagbabago at Pag-Asenso, also known as P3 Program, first launched in 2017. The P3 and CARES programs are quite similar. However, CARES Program specifically accommodates entrepreneurs whose businesses were affected by the lockdown. Keep reading to know more about these DTI loans for small business and if you should apply for them. Read more: Business Loans for Startups in the Philippines DTI P3 Program What is the DTI P3 Program? DTI launched the Pondo sa Pagbabago at Pag-Asenso or P3…

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3 Easy Steps to Apply for a Housing Loan with Nook

Buying a home may seem like an elusive goal for many Filipinos. For the most part, investing in a property requires a lot of money. Thankfully, though, real estate developers won’t require you to pay for the property’s total sum in cold cash. With the right help, you can get and live in your dream home. Aside from a real estate agent, a mortgage broker, like Nook, can help you find good deals on mortgage. Mortgage brokering may be a new concept to you since it’s not widely known yet here in the Philippines. But it’s worth a try—a mortgage brokering company can help you save time and money on your online home loan application. In this article, you’ll get to know more about Nook and how you can use the platform to easily apply for a housing loan online. Let’s start! What is Nook? Nook is a mortgage broker—the Philippines’ first and the only one of its kind.[1] Simply put, a mortgage broker is a company that evaluates your financial capability to buy a property. It reviews different loan offers from lending institutions and banks and then picks the option that best suits you. More importantly, it simplifies and speeds up your online home loan application, which means less work for you. Another way of looking at a mortgage brokering company is that it is the middleman between you and the bank, with your best interest rates in mind. Why Should You Get a Home Loan Through Nook? Working with Nook comes with many benefits. Using its platform will…

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Mother’s Day Ideas: Affordable Ways to Celebrate with Your Mom at Home

For many of us, celebrating Mother’s Day is a big deal—and it should be! With all their sacrifices and unspoken hardships, mothers deserve not just to be loved but also to be revered and celebrated. If you could, you’d certainly give her the world plus the moon and the stars. But you know that there’s one reality keeping you from doing that: your limited budget. But who says you need to have a grand celebration just to show your love? There are many ways to celebrate Mother’s Day without breaking the bank. Your mom will understand your limitations, especially these days when practicality should always come first. Nevertheless, she’ll surely appreciate whatever you’ll give her. 9 Simple Yet Touching Ways to Celebrate Mother’s Day on a Budget With some creativity, thoughtfulness, and just a few bucks, you can pull off a memorable Mother’s Day. Let the Mother’s Day suggestions below serve as your starting point. 1. Cook a Fancy Lunch or Dinner Going out for a celebration may not be the most practical idea right now, both healthwise and budget-wise. But you can still have a fancy meal on a budget by cooking everything yourself (or with the help of your siblings). The effort that each family member puts in will surely touch your mom. You can wake her up by having a DIY breakfast in bed. Food Ideas for Your Mother’s Day Celebration at Home If you’re intent on making a restaurant-grade meal, you may consider the following dishes. Classic Roast Chicken Nothing beats a good ol’ roast chicken—understated…

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Building Your Child’s Tuition Fund: A 5-Step Guide for New Parents

“Pasensya na, anak. Hindi ka namin kayang pag-aralin sa college.” For parents, the guilt over failing to support their child’s needs is one of the worst feelings in the world. Nobody wants to be that parent who can’t afford to send their child to a good school. Education in the Philippines will become more expensive in the future because of inflation. So while you’re still young, building a family, and earning a stable income, start preparing financially for your child’s education and knowing how to save up for tuition. When Should Parents Start Saving for Their Child’s College Tuition? The answer is as soon as possible. In fact, you can start saving even before your child is born. It’s an ideal time to save because your expenses won’t be as big compared to when your child starts preschool or grade school. Plus, starting your child’s college fund while they’re still very young gives you at least 10 years to save up for tuition. Of course, not every parent’s financial situation is the same. More often than not, there will be more urgent expenses like rent, mortgage, insurance, car payments, or medical care. But the sooner you employ ways to save for tuition, the more funds there will be available to offer more options for your child. More importantly, saving up for education expenses early means giving more time for your savings and investments to grow before you start paying tuition. How to Save Up for Tuition: 5 Steps Parents Must Take If you’re a parent, paying for your child’s tuition…

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OR/CR Sangla Guide: All About Car Pawning in the Philippines

These days, there are countless choices of loans and financial services that offer quick cash to those who need it. Some use their credit cards as a cash substitute while others go for salary loans. However, these options can only offer so much, and they may not be the best routes in case you need a large amount of cash. If you own a car, you may consider a car collateral loan in the Philippines. In this guide, we’ll share with you all the important things you need to know about this particular type of loan. What is a Car Collateral Loan? A car collateral loan, also known as OR/CR sangla or car title loan, is usually a secured loan,[1] which means that you’ll need to put something as collateral before you can borrow cash from the lender. In this case, the collateral will be your car’s OR/CR or the LTO Official Receipt and Certificate of Registration. On the other hand, some car title loans are unsecured. Instead of using the OR/CR as collateral, the borrower just submits it to the lending company for safekeeping. In such a case, the lender doesn’t encumber the car title. The money borrowed through a car title loan can be used for a variety of purposes, such as medical bills, home repairs or renovation, and tuition. Related article: Complete Guide to LTO Car Registration and Renewal How Does a Car Title Loan Work? To get quick cash, some people head to pawnshops to pawn their jewelry or gadgets. A car collateral loan in the…

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Cost of Dying in the Philippines: How Much Does a Funeral Cost?

An old saying goes that nothing can be certain except death and taxes, which are both components of a functioning society. However, talking about taxes is just natural while discussing death is considered taboo. Yes, death is a very touchy subject. But now’s the time to change how you view it. If you keep on sidetracking this subject, it will only get stuck at the back of your mind. When that happens, you won’t be able to plan for it properly, thus leading to some problems that may disrupt your family should you pass away. The best time to plan for your funeral is any time—except at the time of your wake, of course! So that you can plan things properly, you need to have an idea about the cost of a funeral in the Philippines. We got you covered. Here are some of the things you may want to take note of. Disclaimer: Prices stated in this article are just rough estimates. If you want to get specific prices, we recommend that you visit the website of your prospective provider or get in touch with its authorized representative. Costs of Treating Terminal Illnesses Usually, death is not a sudden event. Other times, it’s a gradual process that starts with a terminal disease. With that in mind, it would only be wise to start the cost calculation with the expenses that come with a terminal illness. In the Philippines, the leading causes of mortality include heart disease, vascular disease, and cancer. But how much does dealing with these diseases cost?[1]…

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Build Financial Freedom: How to Start an Emergency Fund

By now, you already know the importance of setting aside money for savings. But what about an emergency fund? You might end up with a medical emergency, or you might end up losing your job. It’s always best to prepare your wallet for the worst. Admittedly, setting up an emergency fund is going to leave yet another dent in your wallet. But you’ll be getting financial security in exchange. If you didn’t know about this type of savings fund, you’re not alone. More importantly, it’s not too late to build one. Get started with your own rainy day fund and follow these helpful tips on how to start an emergency fund. What is an Emergency Fund? An emergency fund is a readily available source of cash for unforeseen expenses or situations. Separate from your savings and investments, it allows you to prepare financially for events like unemployment, medical emergencies, home repair, and car repair. That’s why it’s also called a rainy day fund because you never know when it will rain—just like you never know when a financial crisis will come. What is the Difference Between Savings and Emergency Fund? Savings are often used to fund a specific goal, like buying a new piece of furniture, making a down payment for a house, or purchasing airline tickets. You save for planned expenses and goals. An emergency fund, on the other hand, is used to cover major unexpected, uncommon, and urgent expenses. It’s a fund you can access so that you don’t drown in debt trying to pay for an unplanned…

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All You Need to Know About Buy Now, Pay Later Installment Loans in the Philippines

The significance of online shopping in the Philippines[1] has been emphasized now more than ever due to the COVID-19 pandemic. To reduce their odds of getting exposed to the coronavirus, Filipinos are turning to the likes of Lazada and Shopee to shop for their needs and wants. Credit cards, online wallets, and cash on delivery (COD) are among the most preferred payment methods for online transactions. However, Buy Now, Pay Later is becoming a popular and practical option these days. If you’re using conventional payment methods, you may be wondering what Buy Now, Pay Later in the Philippines is. Here are some of the things you may want to know. What Does Buy Now, Pay Later Mean? Buy Now, Pay Later or BNPL is an installment loan that allows shoppers to delay the payment of any transaction or purchase done online. Through this payment option, you can buy something right away even if you’re short on cash at the moment. How Buy Now, Pay Later Works When you shop online, you’ll always be presented with different payment modes, usually via credit card, debit card, or COD. But you may notice that your favorite retailer may also offer a Buy Now, Pay Later option. When you choose to pay using BNPL, you’ll be able to buy the product without shelling out cash right there and then. But you’re expected to pay it back on the agreed date. If you choose to pay in installments, the payment will be spread across the agreed number of months. In much simpler terms, BNPL is…

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How Contactless Payment Works and Why It’s a Necessity Today

Most Filipinos use cash for transactions, but more people are now embracing contactless payment. Almost eight of 10 Filipinos plan on using their cards for payments instead of cash, according to data from the 2018 Visa Consumer Payment Attitude Study[1]. The COVID-19 outbreak has also made establishments switch to contactless transactions. Because this method doesn’t require entering a PIN or using a pen for signature, physical contact is minimal. Contactless payments are not new but are becoming more significant in the world we live in. Keep on reading to know how this payment option works, why it’s important today, and what contactless payment options you can use for products and services in the Philippines. What is Contactless Payment? Contactless payment is a type of payment available in credit cards and debit cards. With this method, you can pay for services and goods by simply holding the card near a payment terminal or a Radio Frequency Identification (RFID) reader. Such terminals process the payment through a chip card. This payment method has been around since the 1990s, with only a few establishments using the technology at the time[2]. Nowadays, more merchants and retailers offer contactless payment for their customers around the world. Other contactless payment solutions that are becoming more widely used are digital wallets such as GCash, PayMaya, and GrabPay. These options require using a mobile app to pay for products and services. How Do Contactless Payments Work? To pay using your contactless credit card or debit card, tap the card on the merchant’s payment terminal. The terminal will beep…

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Legit Online Job Sites to Help You Look for Work During the Pandemic

Ah, job-hunting. It’s challenging, nerve-wracking, and especially difficult during these trying times. How many times have you visited online job sites only to feel overwhelmed? But hey—it’s perfectly normal to feel rejected during this pandemic, what with all the uncertainties and the increasing COVID-19 cases in the Philippines. Lockdown fatigue is real. In fact, experts say that it’s normal to feel groggy and tired during a lockdown[1] because your routine is shaken up. But then again, part of you wants to get cracking. You still want to hunt for your next job—and maybe you’ll find your dream role if you push through. But where should you start? Fear not, we have you covered. We’ve come up with a list of top online job sites in the Philippines. We also have some tips and valuable information relevant to your job search. Why is it So Hard to Find a Job During the COVID-19 Pandemic? The erratic global economy stems from how different industries have reacted to the negative effects of the coronavirus pandemic. Such effects have altered companies’ hiring process and demand for workforce. Ultimately, these changes have affected job hunters. Generally, looking for work has become much more difficult in the Philippines, as the demand for jobs has become disproportionately greater than the supply of jobs that various industries can offer. If you want to look closely into this issue, here are some of the specific reasons you may want to take note of. 1. Businesses Have Closed Down Several lockdowns have been implemented, which means fewer people go outside. This…

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Drowning in Debt? Here’s How You Can Eliminate Them

One of the last things anyone would like to happen: having too much debt. But it does happen when debt is managed poorly. It’s bad for one’s mental health as it is to the wallet, but the problem of how to get out of debt in the Philippines can really cripple you if you do nothing about it. Taking proactive steps to solve this financial difficulty is a lot better than wallowing in anxiety and worrying over your unpaid obligations. It all starts with having a firm resolve to pay off what you owe, regardless of the types of debt you have and how you went into debt. Here are some of the concrete steps you can take to solve your debt problems and get your finances back on track. How to Get Out of Debt in the Philippines There’s more than one way to solve the problem of how to get out of debt in the Philippines, mainly because there are more than one type of debt to deal with. It’s best to strategize based on the debt you currently have and work your way up from there. How to Pay Off Credit Card Debt PHP 297.49 billion—that’s how much credit card debt Filipinos have as of February 2019, based on data from the Bangko Sentral ng Pilipinas. And because of the pandemic, the credit card delinquency rate has increased by 11.5% as of late-September 2020[1]. Unpaid credit card balances are among the types of debt that are easiest to accumulate. One seemingly harmless swipe in a cafe can…

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Top 10 Reasons Filipinos Don’t Get Insurance

According to the Philippine Life Insurance Association, Inc., fewer Filipinos were covered by microinsurance—which is a much more affordable policy option—as September 2020 ended. Sales dropped by 33.23% from PHP 6.58 billion in 2019.[1] The decline might have been caused by the pandemic. But it also goes to show that some people, even if they’re financially able, may still be averse to the idea of getting insurance. Some don’t consider purchasing a policy, whether it’s life insurance or Compulsory Third-Party Liability car insurance cover, unless necessary. Insurance is actually beneficial for everyone, as it helps offset costs for a lot of expenses, from school fees to medical bills. Still, one can’t help question why a lot of Filipinos avoid insurance. Top 10 Reasons Filipinos Avoid Insurance Here are the most common reasons people are still not getting an insurance policy, whether it’s for car, life, and property. 1. “I don’t have enough money.” This is the common statement that a lot of financial advisors and insurance agents hear from their potential clients. It may sound like an excuse, but it could be a real one. A lot of Filipinos are still poor,[2] and they have a hard time making ends meet for their families. There may be many microinsurance options, but not everyone can afford them. They have other urgent obligations to fulfill for survival, such as food and medicine. Those who have the money, on the other hand, may have an idea about the importance of insurance. But they’re dealing with other financial priorities, such as the education of their…

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Grow Your Money Faster with These High-Interest Savings Accounts

Most savings accounts from major banks in the Philippines grow funds at a measly rate of 0.10% to 0.25% per year. A savings account is good enough to keep your money for daily expenses but not for other financial goals in which you need to grow it faster. Good thing, there are quite a handful of high-interest savings accounts, offered by both traditional and digital banks, that provide faster returns on deposit. These bank accounts earn seven to 10 times higher interest rates than regular savings accounts. You can even open a high-interest savings account in the Philippines in the comfort of your home. High-Interest Savings Account in the Philippines: 17 High-Yield Options Here are 17 peso savings accounts to consider if you want to grow your funds faster in a bank. 1. Tonik Bank Stash Account Interest rate: 4% (Solo Stash) / 4.50% (Group Stash) Initial deposit: Not required Maintaining balance: None Interest-earning balance: None Tonik, the first digital-only bank in Southeast Asia, has just been launched in the Philippines this year. Other than convenience, Tonik offers the highest interest rate savings account in the Philippines, particularly its so-called “Stashes.” The bank describes Stashes as separate savings pockets for different goals and items. Solo Stashes can yield 4% interest per year. But you can earn up to 4.50% interest when you start a Group Stash, which allows you to save money together with at least two of your family or friends. When you open an account with Tonik, you’ll be given five Stashes. This means you can save up for multiple goals…

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COVID-19 Business Recovery and Continuity Guide for Filipino Entrepreneurs

Micro, small, and medium enterprises (MSMEs) are among the hardest-hit sectors during the COVID-19 pandemic. It’s literally a chain of unfortunate events, from temporary shutdowns and mass layoffs to depleting cash reserves. MSMEs that provide essential services and commodities operate as usual, even with a reduced workforce and work hours. However, MSMEs in other industries continue to be affected by the pandemic. The negative implications keep growing. Business continuity and recovery plans also keep changing.  What should Filipino entrepreneurs do to keep their businesses afloat in these difficult times? From cost-cutting measures to MSME loans in the Philippines, here are some ways to get your business back on track during and after the COVID-19 pandemic (and any crisis in the future). MSME Loans and Other Ways to Save Your Business from a Pandemic 1. Find Ways to Cut Costs How has the pandemic affected your business? Do a financial check-up to find out the real extent of the damage. This way, you can also develop a proper recovery plan. Review your financial statements and compare your current cash flow, sales, and profits to last year’s data. This will give you a clear idea of how much your business has gone down (or maybe up). You might realize it isn’t as bad as you expect, or you might need to ramp up your funding to get through the crisis. Take a look at your business expenses to help maximize your revenues and minimize your losses. What are your most important and urgent expenses? Which costs can be reduced, deferred, negotiated, or…

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9 Tips to Get Your Bank Housing Loan Application Approved

To own a home, you need a reliable financing partner—in most cases, it’s a bank. But before you look for a bank that will help you with that, understand that the process of getting a home loan is very much different from applying for a car loan or getting a new credit line. If you liken the mortgage application process to other loan services of your bank, you’re bound to get frustrated. This is because the housing loan approval process in the Philippines can be quite taxing, and it requires you to invest a lot of your time and effort. Arming yourself with valuable knowledge, though, will get you far. It will even help you increase your chances of getting your housing loan application approved. Here are some of the things you should look into. Why Apply for a Home Loan at a Bank? You have a lot of home financing options, such as the Pag-IBIG housing loan and in-house financing. But one can’t deny that bank financing has some edge over them. The Pag-IBIG Fund may offer lower interest rates, but you may find yourself waiting for weeks before you receive the result of your application. Meanwhile, some banks’ housing loan approval time can be as fast as five banking days.[1] Generally, banks have much lower home loan rates compared to in-house financing. Their loan terms are much more flexible, too. Some banks offer amortizations payable for up to 20 years. Bank’s housing loans can also be used for other purposes, such as residential lot purchase, new home construction,…

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Loan Options and Approval Tips for Freelancers in the Philippines

Being a freelancer has its downsides, and one of them involves getting a loan for freelancers in the Philippines. Formal lending institutions like banks and government agencies are strict when it comes to loan approvals. They require borrowers to provide their payslips, income tax return (ITR), certificate of employment, and other financial documents to prove their ability to repay a loan on time. If you don’t have proof of a stable income, you have a slim chance of getting approved. Worse, you can get downright rejected for a loan. Even though you’re earning more than an average employee, lenders will still see you as a credit risk because of the usual unpredictability of freelance income—unless you have documents to prove otherwise. However, don’t let your self-employment status stop you from borrowing money to cover your financial needs. It takes some effort and patience. But you can definitely improve your chance of getting approved for a freelancer loan with the following tips. How to Get a Loan as a Freelancer in the Philippines 1. Register as a Taxpayer In order to figure out how to get a loan as a freelancer, you must register as a self-employed professional or business with the Bureau of Internal Revenue (BIR). Once you’re a registered taxpayer, you can start filing your ITR. Aside from being a proof of paying income taxes, the ITR shows how much you earn in a year. It’s one of the documents that lenders use to decide to have an easy approval of loan application. Tedious as the process may be,…

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