5 Ideal Places to Visit This Valentine’s Day

(This is a guest post from Kyle Kam, one of our friends from Money Max PH. The Philippines’ leading financial comparison website. He's an online marketing specialist and whenever he’s not working, he’s busy at home watching MMA videos the whole day. You may follow him on Twitter @undisputedkyle)

In a relationship? You may get a lot of pressure from your boyfriend/girlfriend to plan something spectacular for this coming Valentine’s Day. The good news is that the holiday falls on a Saturday this year, so conflicts with your work schedule is less likely.

Some more good news: you don’t need to spend a ton of dough to show your date a good time! A growing number of local malls like Greenbelt, Eastwood City, SM Mall of Asia, and Bonifacio High Street are pretty enough that you can take your date out for a stroll without draining your wallet. If you’d rather step away from malls, however, we’ve got a handful of budget-friendly date ideas you can try.

1. Intramuros

Want to invoke the history and romance of Old Manila? We’re suckers for the former Walled City of Intramuros, which is excellent for much more than school field trips. Have lunch amidst the rustic cobblestones of Casa Manila, take a tour of the San Agustin Church & Museum, or hire a kalesa to take you around Fort Santiago in true cheesy-romcom fashion.

2. The Collective

Immerse yourself in Makati’s artsy crowd and visit The Collective, located along Malugay Street. This eclectic hangout is the ideal watering hole for the city’s most creative minds, with a fun selection of shops and restaurants where you can always try something new. Come for the art, stay for the atmosphere. Either way, you and your date are gonna enjoy yourselves.

3. Maginhawa Street

If you or your date are avid foodies, you’ll find plenty to smile about at Maginhawa Street. Located at Teacher’s Village in Quezon City, Maginhawa Street is home to several small but cozy restaurants that’ll definitely fulfill your cravings. Whether you’ve got a sweet tooth or a health-conscious lifestyle, you can’t miss this much-loved culinary destination.

4. Little Tokyo

If a Japanophile has stolen your heart, then Little Tokyo is a must-try for your future date nights. Situated along Makati’s Chino Roces Avenue (Pasong Tamo), Little Tokyo is a charming compound at the heart of the city that perfectly captures the spirit of the Far East. Here you can sit down to a meal of authentic Japanese dishes like sushi, okonomiyaki, ramen, soba, takoyaki, and shaved ice desserts.

5. Salcedo Weekend Market

While not as chill and laid-back as the Legaspi Weekend Market every Sunday, this popular haunt is a great way to spend a lazy morning with your significant other. Held every Saturday at Salcedo Village’s Jaime Velasquez Park in Makati, the Salcedo Weekend Market lets you sample world cuisines and shop for one-of-a-kind buys all in one place. This is not your usual neighborhood palengke!

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Wherever you plan to go this Saturday, be sure to plan ahead! Make restaurant reservations in advance, as the demand for intimate dinner settings will be sure to skyrocket on the 14th. Make the proper arrangements with your transport. Fill up your tank, update your car insurance policy, and do all the necessary maintenance checks so you don’t end up stranded on EDSA with a busted engine. 

And if things don’t work out, always have a Plan B ready just in case!

6 Ways In Spending Your Christmas Bonus

This is the time of the year that a lot of people feel giddy inside. Of course, that includes me! 

I can already smell the scent of Christmas tree, feel the cold breeze and excited for family reunions. 

Do you feel the same way too? 

How about the much awaited Christmas Bonus and/or 13^th Month Pay? Definitely you are more excited for this. I believe some of you already received theirs. But how will you spend it?

Remember, it is your reward for a year’s work so better spend it wisely!

photo: source

Here are some ways:

1. Build up your emergency fund - emergencies do happen whether we like it or not. As a rule of thumb, you should have at least 3 to 6 months worth of monthly expenses in the bank. 

But if you haven’t started setting up fund for emergency yet, save your bonus as your emergency fund.   

2. Pay off existing debts – it’s better to start the new year without any debt. So if you have an outstanding credit card balance or personal loans, instead of paying for the interest amounting to 3.5% monthly or 42% per annum, better to get rid of it by paying it all (or as much as you can). 

3. Invest for your future – do you see yourself enjoying the same lifestyle as you are now in your retirement years?  Do you think the pension you will be receiving in the future is enough? Make your money work for you! 

Consider to invest your bonus in investment vehicles that will give you higher returns or better-than-inflation rate. Open a Mutual Funds account, invest in Stocks, UITF or VUL (insurance with investment plan). 

Ask around, read books. Do your research or let me know so I can help you.

4. Protect your greatest asset – and that is YOU! Plan ahead and protect yourself against life’s risk by getting life insurance or health/critical illness insurance. 

Read: How much insurance you really need? 

5. Set up ‘funds’ for your life goals – are there any adventures that you want to cross off your bucket list? Where do you want to go in summer next year? Do you have plans of taking up Master’s degree? How about pursuing your passion by building your dream business? 

Whatever milestone you want to achieve, set aside fund for every goal. 

Here's an effective way on how to do it: the jar system of saving money.

6. Share and enjoy it with your loved ones – since Christmas is the merriest season of the year so why not treat your parents for a shopping spree, eat out with your friends or indulge yourself with anything that will make you happy. 

Go and celebrate being hardworking this year! After all, it is your bonus money. 

But remember, spend it wisely.

If you have other smart tips on how to spend it, share it by commenting below.

52 Week Saving Challenge

I believe most of you have seen this post from Kuripot Pinay's blog about the 52 weeks saving challenge that went viral on Facebook. The idea is simple. All you have to do is to save Php 50 for the first week of the year and add the same amount for the next 51 weeks and you will be Php68,900 richer at the end of the year.

50s increment

It may seem easy to save Php50 during the first few weeks, but you may notice starting week 40 you have to save at least Php2,000! But for those, who would like to take baby steps in their savings, you may consider saving Php5 or Php10 or Php20 for the first week.

5s increment

10s increment

20s increment

Accepting this challenge may affect your lifestyle in some ways. Instead of eating out, why not bring packed lunch. Or you may think of having another source of income. Be it a business or an online job that will motivate you to save and save. 

After all, what matters most is the habit of saving regularly and being committed to your goal. And also, the reward of saving at the end of this challenge. So, challenge accepted? Lets do it this 2014!

The Jar System of Saving Money

I remember Bro. Bo Sanchez mentioned in one of his talks in The Feast PICC (which I watched in youtube) about "The Jar System" shared by Ms. Miriam Quiambao. And last night, I had the privilege of tuning in into "Kapuso Mo, Jessica Soho" show of GMA Channel 7 and heard it straight from the beauty queen herself. 

But I checked the link unfortunately it was not available anymore. So I searched for Miriam's other interview on GMA as well (updated on April 12, 2016). You may watch it here.

According to Miriam, she learned about the jar system when she attended financial seminar in Singapore. 

Friends, here are her 8 Jars which you can also apply the moment you receive your income from all sources (work/businesses, etc):

1. Tithe: 10% of Income for Church. For me, I regularly give my tithes to the Light of Jesus Community so they can use it for God's Greater Glory
2. Growth: 20% of Income for Investment. You can invest it in Mutual Funds or Stock Market
3. Taxes: 12-15% of Income. I believe this is only applicable to those who have businesses since taxes are already deducted once employed
4. Learn: 5% of Income for Education like if you want to take up Masteral Degree, attend seminars or workshops and the like
5. Live: 35-50% of Income for Necessities which you can use for your every day expenses
6. Save: 5% of Income for Savings to spend for emergency purposes. The ideal emergency savings is equivalent to 3 - 6 times of your monthly expenses 
7. Play: 5% of Income for Leisure like treating yourself for a spa, watch movies, dining outs or for travel  
8. Share: 5% of Income for Charity to help the needy

I  like the fact that Miriam has bank/investment accounts for each of the jars. Ika nga, hindi pwedeng gastusin ang naiipon. Also, your savings can earn interest as well which you can invest in other instruments like real estate/properties or create your dream businesses. 

"Kung walang isinuksok, walang madudukot. Kung walang itinanim, walang aanihin. Kahit kelan mas wais talaga ang magtipid. Kaya habang maaga, habang kaya pa, simulan na ang pag-iimpok" - Jessica Soho

If you think this can help your friends and loved ones, share it and be a blessing! :) 

How to Manage your Money

            

          
Do you spend more than you earn? Are you tired of buying things that you eventually don't need?

There's some tips on how to manage your money the smarter way and live the rest of your life completely debt-free!

When you go shopping, take only cash. Don’t take a credit card. Buy only the things you really need. Before going shopping, make a list of your needs and stick to it. Save up the money to buy what you need. Do not take out a loan or use a credit card. Shop at thrift stores, garage sales, and flea markets. Negotiate prices. Avoid trendy clothes; buy classic styles made from high-quality fabrics. Look for sales and off-season bargains. Compare prices. Carefully inspect everything you buy; make sure the item is worth the money. Keep your receipts. Buy—do not rent—furniture. (Look for good-quality used furniture. The classified ads and yard sales are great places to find gently used items at low prices.) Visit any online classified ad site and check the nearest city to your residence. Shop for food at supermarkets or food warehouses with a shopping list based on menus; avoid costly convenience stores. Base your menu on the grocery ads to take advantage of sale items. Use coupons, and buy store brands at the supermarket and drugstore. (Compare prices to see what a difference this can make.) Buy large quantities of things you use a lot. Eat at home. Make your meals from scratch. Take your lunches to work. Share driving or use public transportation. Trade baby-sitting with neighbors, friends, and relatives. Rent videos, or borrow videos from the library. Write letters instead of calling long-distance if these calls cost extra on your land-line phone. If you have a cellphone, be sure you're not paying for minutes you never use. Give homemade gifts. Read books, magazines, and newspapers at the library, or get a neighbor’s copies when they have finished reading them. Do as much repair work as possible yourself. Buy only energy-efficient appliances. You will be paying for electricity and gas, too. Source: managingmymoney.com

The Simplest Way of Saving Money

Saving money may be the last option when you received your hard-earned money. Do you agree? You have the tendency of spending half or almost the entire salary received after paying all your bills.

I was like that before but now I have realized how important saving money for my future really is. You may think that you might have a hard time doing it. But if you are tired of living paycheck to paycheck, let me show you an effective way that might help you save money and live the life that you desire.

 

The 10-20-70 Rule

 10% Rule

As the Bible says, “Give to God what belongs to God” (Mark 12:17). I always believe in the law of tithing. The moment you receive your salary, set aside 10% of your monthly income and give it cheerfully to your church to fund all God’s work and to help the less fortunate people.

If you have a bank account with online banking, you can automatically transfer 10% of your monthly income for your tithe. You can inquire your bank of choice if they have this feature to help you save your money.

You will be amazed on the results if you consistently do tithing. Try it!


20% Rule

You always plan for the big expenses in your life—rental payments, water and electricity bills, daily allowances, shopping expenses, out-of-town trips and most importantly, credit card bills. And disregard the biggest expense which is your retirement. Some might say, “I am too young to prepare for my retirement.”

But do you know when is the best time to plan for retirement? The best time is now—start as early as you can. After you set aside 10% of your income for your monthly tithe, allocate 20% for your retirement fund and long-term goals.

But don’t put your retirement fund in the bank only for your emergency savings. Invest it where bank invests your money. Invest it in mutual funds or stocks, you can visit http://www.pifa.com.ph/ for a complete listing of mutual funds in the country or just contact me.

Because you don’t want to grow old and poor. You want to grow old, rich, and very generous. Right?


70% Rule

After subtracting your Tithes and Investments (retirement fund and long-term goals), spend whatever is left. By doing this, you are in control of your expenses. Examine your current lifestyle. Have you been spending more than what you are earning? If you don’t have money right now to buy a thing that you like, then don’t buy it.

Don’t spend your money on things that you don’t really need. Create a list of things that you need in your everyday life. This will save you from becoming an “impulsive buyer” whenever there is a mall sale and from using your credit cards.

But if you would like to have some activities for yourself or loved ones like planning for out-of-town trips, travel and shopping abroad, movie/spa and the like, you can create “Financial Jars/Envelopes” for each activity you like to plan which I will discuss in my succeeding posts.

Spend your money on what truly matters.

1 Million In 23 Years? Start Investing 1k a Month Now!

Yes, you read the title right. You can become a self-made millionaire not only through your hard work and also how hard your money will work for you.

Life is all about choices. 

When you want to go somewhere else, like for instance in Mindoro (this is my Grandma’s favorite place here), you have the option of taking a bus and ship to go there that will take you approximately 12 hours. But if you are in a hurry, you can simply ride a plane that will bring you to Mindoro for only 45 minutes. Why I am saying this? How related is this in growing money?

If you have different choices in going to your favorite destination, same applies to growing your money. There are a lot of “investment vehicles” available and all you have to do is to choose which of them will make you achieve your financial goals.

One financial goal you may think of is “How to make a million?” For example, you have finally decided to start investing now. Every month, you consistently save 1k and put it in an investment vehicle that gives an average of 10% a year. It will only take 23 years for you to have a million pesos. 

You might asked, “Jacqui, where in the world can my savings become a million?” Simply because of the power of compounding. It was Albert Einstein who said, “the greatest magic in the world is daily compounded interest”. Your money’s interest earns interest still earns interest and so on. Just what I mentioned in my previous article—because money doesn’t sleep, take on leave and it grows over time. 

You can just imagine if you put your savings in the bank which gives you 1% on regular accounts and 4% on time deposit with taxes not yet deducted, your money will lose its value.

The table below shows the “comparative study” between the three types of investment vehicles with their corresponding annual interest rates. Imagining yourself consistently saving 1k a month for 25 years. Your money will grow like these (in pesos):

 But what if you can save 2k or even 5k a month? You will be amazed on how much your money can grow! 

Your next question may be like this, “How can I invest in mutual funds?” You can visit, http://www.pifa.com.ph for a complete listing of mutual funds in the country. Or contact:

Jacqui Noynay (Licensed Mutual Funds Representative)

Mobile: 0933-2014898
Email: jacquinoynay@gmail.com

photo: source

When is the right time to save and invest?

Last week, I met a man named Mang Ramon (not his real name) in his late sixties and maintenance personnel in a private school in Quezon City. I had a chance to interview him as I waited for the school directress to whom I have a presentation with. 

Jacqui: Hi Mang Ramon! At your age, why are you still working? Don’t you have plans of enjoying what you have saved and invested early in your life?

Mang Ramon: Jacqui, I wish I could but I made the biggest mistake of my life for not preparing for my own future. That’s why until now I am working and I don’t know when this going to end.

Jacqui: But I heard that you had a good paying job that you have worked for years, Mang Ramon. And how come you made what you called “biggest mistake” in your life?

Mang Ramon: Because I never invested. I only saved a little but it’s gone now. Yes, it’s true that I have worked for a good company with a good pay before. During my early working years, I always say to myself, “I can’t invest now. I’m just starting in my work and in life. I’m entitled to have fun while I’m young and there’s plenty of time. I don’t need to hurry.” But when I got married and got kids, this is the most expensive period of a man’s life—pay expenses and kids’ tuition fees. I can’t even save a peso. The retirement fund that I received from my company is not enough to pay for our daily expenses now. 

I’m thankful to my kids because they are kind to give me money but I don’t want to bother them that’s why I am still working. And I can’t buy my own medicines. Jacqui, I wish I had started investing 40 years ago when my savings are little but it’s too late now. I am hoping that my story will save other people from making the same biggest mistake of my life.

Jacqui: Thank you, Mang Ramon for sharing your story with me. I can still help you to invest now. It’s better late than never.

The right time to save and invest is now as you commit yourself to invest in your future before your present.