Debt is any money you owed. It can range from personal loan with a friend or a family member to loans with a bank through a credit card and home mortgage. Good debt versus bad debt Something is considered a good debt if its value increases over time and/or it can generate an income. Examples are rental…
Download the Living Expenses Statement worksheet for free! To use the worksheet, make sure to read our post on why estimating your expenditures is important in knowing your cash flow. Here are the instructions: Download Living Expenses Statement worksheet. Make sure you have Microsoft Excel installed in your computer. Indicate the expenses under each heading: Home, Bill, Health and Insurance, Transportation, Personal…
Download personal Income Statement Worksheet for free! To use the worksheet, I recommend that you read post on the purpose of an income statement, and why understanding your financial status is crucial to financial planning. Here are the instructions. Download Income Statement Worksheet. Make sure you have Microsoft Excel installed in your computer. Limit your timeline to monthly. In Income table, indicate…
The first step to smart financial planning is knowing where you are at right now. Having a clear picture of your present standing makes you aware of how much you are earning, how much you are spending, how much you end up saving, and how much you are setting aside for investing. The choices that you make…
Download by clicking Financial Goals Worksheet. Before using, it is best to read my post on financial goal-setting and the importance of writing down your life’s dreams. To use, here are the instructions. Download the Financial Goals Worksheet. Open the worksheet. In What you want to buy column, list down the things you want to acquire, costs and how long you are…
In a perfect world, you and I will only be using one card to take care of all our banking needs. In reality, that’s just not the case. There are so many varieties of plastic cards available in the market in the Philippines, and it is quite confusing to know which one is suited for what…
Prepaid cards are very versatile bank products that you can use for cashless shopping, bills payment and online booking. They are also easy to acquire, there is no need for you to open an account. Those are the reasons that I’ve decided to get a BPI My e-Prepaid Mastercard. I can use it to pay online subscriptions just…
Two weeks after I applied for a BPI e-Prepaid Mastercard, I went to the bank to claim the card. Here are the five (5) things that you should do to have a smooth, hassle-free experience. (For those who have come to this page for the first time, you may want to read on general information about prepaid cards that are…
I was excited getting the BPI prepaid Mastercard. I couldn’t wait to use it right away. In this post, I am going to talk about how to load funds, inquire balance, use the card to make online purchases and view transaction history. If you’ve come across this page for the first time, you may want to…
Looking for better interest rates than what your bank is giving you? Which banks in the Philippines offer the best time deposit? Time deposit has become popular nowadays. It’s a safe, low risk form of passive income that you can invest and that gives your better returns on your money than a regular savings account. What is a time deposit? A time…
In the Philippines, it’s crucial to have a legitimate ID in order to transact with both private and public offices. You must apply for various identity card that will also be recognized as a legal ID if you don’t currently have any valid IDs or don’t have enough to cover all your needs. To begin processing…
Financial planning is bringing your future goals to the present so you can do something about it. As important as it is towards creating a fulfilling, financially-free future, it is sad that most Pinoys do not know its importance. What is financial planning? Financial planning is all about optimizing the way that you manage your…
When I was working as a corporate trainer, I used to buy Starbucks (decaffeinated) frappuccino at least once or twice a month. Like all millenials, I viewed my tall cup of sweet, whipped-cream beverage as ‘reward’ for all the hard work that I was doing. This was way before I knew about financial planning. Budgeting was…
Robert Kiyosaki, popular author of Rich Dad, Poor Dad and successful entrepreneur, has been strongly recommending people to be mindful of their income statement. But what is it? And how exactly can it help you? Income statement An income statement is a tool of personal financial planning. It is where you see a record of your…
How many times have you asked, “Where did all my money go?” You’re not alone. According to studies, only 1 out 3 of Pinoys are tracking their expenses. This is not just good news. Those who do track their spending have better chances in being able to save money from what’s left of their income….
In an earlier post, I strongly encouraged you to attend a free financial planning seminar. Whenever you’re invited, say yes. Attend and learn as much. Companies and groups in Cebu, Philippines can easily organize events and invite people to attend them. Using the internet and power of social media, businesses and financial institutions like insurance, stock brokerage…
Prepaid cards are gaining more and more popularity. They’re easy to acquire and convenient to use. You can use them to pay in booking your flights, dining and shopping cashless, making purchases online, and buying tickets without the hassle of background check of credit cards. They’re accepted as payment in many stores especially online and/or those…
What are the Philippines’ largest companies? Maybe you are asking this question out of pure curiosity. Or maybe you are one of the many people out there who are learning how to invest in the stock market for the very first time, and you’d like to know more about the companies whose tickers you’ve seen on the…
I was looking for a new phone after my old one died on me. I was at the mall looking at the window display of electronic shops. The minute I approached a shop, sales reps would circle around me and offer their most expensive model. They wouldn’t let me talk as they mumble away a…
Which bank in the Philippines is considered the best? You may be looking to open a savings account for yourself or for your kids. Whatever is the reason, the first thing that you’re surely going to look out for would be a bank that you can trust. However, with so many institutions that are established in many parts of the…
Gift cards are not only issued by many businesses that allow anyone to pay without any need for cash or credit card. They can also be purchased from Philippine banks. Popular gift cards are issued by big department stores, grocery, bookstores, and restaurants. The disadvantage is that they can only be used for that particular business…
