Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts

Helping OFWs Bridge Financial Gaps

After years of uphill struggle, many OFWs come home to stay into the same financial status and way of life they had before they departed the country. There are many whys and wherefores for such an upshot – their families back home were unable to save, the salary earned out of the country proved inadequate for the family’s mounting necessities, the OFW overseas had so many other trials to deal with such that economic groundwork fall through the cracks, or financial implements abroad simply did not tone with the needs of our fellowmen in other countries. 

With AXA iON, Filipinos abroad who log on to the internet quite often can now access the most basic financial products that can help them secure their financial future in a transparent, easy, and affordable way.

“The internet is playing an ever increasing role in the way we communicate, transact and find information about anything,” Rien Hermans, President & CEO of AXA Philippines said,  
“With AXA iON, we now give Filipinos the chance to secure their financial future from the increasing costs of education, the burden of expensive healthcare costs, and the passing of a breadwinner, all in a digital platform, in just a few, easy steps, and from wherever they are,” he added.

AXA iON offers four (4) fully-guaranteed products that make up the AXA eXentials line, which are designed to be affordable with premiums starting at only P1,000 per month:


  • Savings eXentials is a fail-proof alternative to savings that provide better returns than a regular savings account returns, pays out the cash to your family even if you don’t complete the 5-year savings plan in case of death or disability.
  • Academic eXentials gives guaranteed cash benefits once a year for 5 consecutive years, to help defray costs related to tuition or education. But in case of untimely demise before the 5-year payout period, Academic eXentials will give your family additional cash every year until the year before the scheduled release of benefits.
  • Life eXentials is a back-to-basics income replacement plan. Unlike typical life insurance plans, Life eXentials pays out its benefits monthly over a period of up to 5 years so there’s no danger of wiping out the insurance proceeds at once and ensures that the beneficiaries get a monthly stipend to replace the income of the loved one who passed away.
  • Health eXentials is the affordable complement to HMO coverage as it pays out cash upon diagnosis of critical conditions such as heart attack, stroke, including gender specific cancers (breast, cervical, prostate cancers), stroke, heart attack, Alzheimer’s disease, liver disease and 30 other critical illnesses.


This is a press release.



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Thoughts from a Mega Banker: Financial Skills For Fellow 20-ish Pinoy Yuppies

I may have financial successes and failures at different points in my life but if there is anything I am proud of, it is that I have stuck with my plans even through privations.

I am living frugally now because I have a lot of responsibilities to pay. I’m currently paying off equities for a pre-sold home (at age 23!), mobile data plan, premiums for a life insurance, premiums for a funeral plan (I know right?), saving for future plans (which I am not able to do yet) like finishing my postgraduate studies or travelling and investments like funding my stocks and mutual funds through Citiseconline and FAMI Equity accounts respectively.

I didn't need to wait until I reach the pinnacle of my career years to educate myself towards financial independence. I take it upon myself to learn about personal finance as early as I can even if I am still a rank-and-file employee. Ignorance is the biggest cost we pay, so we have the responsibility to continually educate ourselves in order to prosper as what God would have wanted. He always has great plans for us, I used to say often, but He can’t do it alone unless we pay our dues and do our share.

Life loves those who dare live it. - Jaysee -

There are small things that we can start doing today:


  1. Be tight-fisted with our pesos. If you save up your small purchases throughout the day, it might add up for an equity payment on a home for the first month alone.
  2. Keep a good credit history. Treat your plastics (credit cards) as cash. This will ensure that banks will lend you money should you ever decide to take out a loan for your business, home or first car. 
  3. Keep your bills low.  Be careful about subscription models and eliminate some recurring bills to things you don’t really “need”. If you are like me, who lives in a world of great consumerism then don’t give in to the pressure of owning the latest phone your telco offers or wearing the brand that everyone covets. This leads to my next advice.
  4. Live humbly. Be frugal but don't deprive yourself of great things you deserve. Being frugal could involve skipping taxis unless needed and taking public transportation instead. Having not to dine out at restaurants regularly could help save you money in the long run. Pantry could be good for you and you may also want to take advantage of the free drinks like the mega bank I am working for now. 
  5. Sock money away. From your pay, take out savings which you might not use for daily expenses. Then from your savings take out an emergency fund and place it on a separate account. This should be at least 6 months’ worth of funds in case you lose your job. This is one tip I didn’t think through when I had quit my previous job and while I had a great time during the transition, trust me when I say this but I am literally paying the price of not socking money away.
  6. After you have saved for your emergency money, open another savings account for investments. Invest today. Check out stocks, and if you are not comfortable with your financial knowledge then go with mutual funds and UITFs. Life insurance products even have investments components today and it is very much recommended that you get one especially if you have dependents. The money you place on these accounts should not be something you would use in the next 10 years or so.
  7. This lack of financial strength makes us all exposed. It makes me feel bad when I had to turn down friends and family when crisis had hit them and I had nothing much to aid them. Share your financial knowledge as much as you can.
  8. Time is not an infinite product. As someone in our 20s, most of us think that we have all the time in the world to figure things out and get what we want. Truth is, we have to make the most of the opportunities we have today, because there will be a time when you have no more of it. 
  9. Don't be so full of yourself. You are irreplaceable. It's easy to drown in our own ego since we may be the most capable, creative, knowledgeable and multi-tasking generation but we have yet to reach our full potential. The real world just have all the mechanisms to crush you down and humble you. We all still have to methodically and painfully work our way to success.
  10. Take Responsibility. I am proud to be part of a mega bank who fosters a culture around integrity. As people starting, we are bound to make mistakes but we shouldn’t be defensive about errors in judgment. We can only grow by embracing the lessons learned, taking accountability in everything we do by heart, I must say.
  11. Chin up if you ever got your butt kicked. Having a horrible boss or coworker is something to be joyful about. This is the most vulnerable, pliable and foundational stage of our professional career.  Working for someone that demands fineness and pushes your bounds on a daily basis will build the most rock-hard ground work for your continuing professional victory. Dealing with difficult people will only strengthen your character along the way anyway.

What other tips can you share? Comment up!



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Thoughts of a Mega Banker: 14 Tips to Outsmart your Credit Card

Working for the biggest financial in North America fortified everything I know about Philippine credit cards. There are better resources online but let me share you what I know about this great financial tool and how you can use it to your advantage and not the other way around.

"The plastic" is very convenient and rewarding to use that is if you know how to use it wisely.

14 Ways to Outsmart your credit card


  1. Always pay it in full based on your "outstanding balance". (Note: not minimum, partial.) This is where we make money from fees like finance, interest, or transaction fees.
  2. Get a card which suits your lifestyle. If you are a frequent flyer, then use card that gives you reward like miles. Make sure you get the best deals of the best card. 
  3. Do not pay for annual fee ever. That is not to say that you don't pay it at all, just ask them nicely over the phone if they could waive it let's say for the first year or the first three years. I made this mistake and so shouldn't you. If they reject the idea then call again in the next 6 hours or so and plea up until you get what you called for. Don't even give in when they say that they will increase your credit limit instead. Remember that is not your money on hand but a money that you are to borrow. You are after the rewards and not paying more fees. Just note that the annual fee is usually billed a month before your first card anniversary.
  4. Know the cutoff of every billing statement. Then pay a week before it. Or better yet divide the payments in two and pay every payday or better yet pay every purchase you make if your savings account and the credit card account is enrolled on your online bank profile.
  5. Always get your rewards before their expiry at the end of the year.
  6. Link all your bills to your plastic so you get the points. (Meralco, Globe, Sun, Smart, Tuition, Life Insurance)
  7. Be responsible enough to never go overdraft so you won't get any fees.
  8. Don't ever be tempted to avail of cash advance unless if it is an emergency and you don't have enough savings. Banks these days offer a .99% interest per month which is good but if you could pay it off before the term reaches half then the better.
  9. Don't treat your plastic as a lotto ticket. You can't swipe it just when you feel like it. Treat it as your extended time lender for 30 days instead. 
  10. Make sure your Philippine credit card has MasterCard and Visa logo on it. These are universal merchant associations and they make sure that your card is accepted everywhere (even internationally) you use it.
  11. If your card has online banking, enroll in e-statements as well like text and email notification. This will serve your reminder for online transaction, fraud detection for unusual transaction and so that you don't forget your due date.
  12. Don't be like the rest of the nation who is influenced under the culture of just paying the minimum amount due. If you don't pay in full, interest charges will start to incur.
  13. It is good to know that banks already earn every time you use it since they charge the merchant and not you. Charging you with additional fees is already an additional stream of income actually.
  14. And if you travel abroad, you can use it to pay the merchant even without going to the money changer. Just inform your bank ahead of time so they can put fraud notifications at bay.




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Finance Tips for Young Filipinos from a Young Mega Banker

I currently work for North America’s largest mega bank and there is so much we can learn about finance from our developed counterparts. Fear is another concern among us Filipinos young and old alike. But if there is something we have proven the world, it is that we rise significantly from almost anything.

It has been a generally accepted fact the Filipinos loath risk, meaning we tend to dodge risks especially in investing and how we view entrepreneurship. One evidence of which is our huge money in Savings accounts. 

“BSP numbers pegs bank accounts (Savings, Checking & Time Deposits) at about P5 trillion while Special Deposit Accounts (SDA) at approximately P1.5 trillion.” 
- MoneySense Philippines -
A big lump of the money of the Pinoys is not actually being put in investment vehicles and is not reaching their full potential. While bank accounts are really safe, their earnings are waaaaay below price increases rates on commodities (inflation) which means for every year we keep money in savings, we actually tend to lose them.

My recommendation: Learn about investing. There are a lot of seminars and blogs around investing, insurance, entrepreneurship, personal finance, so take the time to learn the correct way to manage your hard earned money. Financial education it is one of those things that will bring us financial independence. 

Let us also not be immobilized by anxiety and doubt because if we risk nothing we gain nothing. I don’t mean gambling or betting our hard earned money away – we can learn to broaden your horizons and practice practical investment design.

It's simple. Just separate a portion of your savings to investments. This money should be something you are willing to put away for a very long time probably in 10 years before you reap the gains.
If investing directly in the stock market may be too much for you to stand, then I recommend we take a look at collective “equity funds” like the your local bank’s UITFs (Metrobank, BPI, or Security Bank) or mutual funds from FAMI as well. Even top life insurance companies now have investment components like SunLife and AXA.

Regardless of investing directly or indirectly, I have faith that it’s time for Filipinos to hit the books and put in in the Philippine stock market.

Making Money Work For You

The Money Summit and Wealth Expo in Waterfront Cebu definitely blew my mind out of proportions when it comes to money. 

Staying at that ballroom for two days, humbled me and opened a whole new world of opportunities and busted a lot of myths and misconceptions that has hindered me to maximize the power of  these opportunities after all these years.

In a nutshell, I have learned different ways to earn massive, passive income from real business and investment experts themselves. I have learned about Simple Super Strategy for Stocks, How to Become an E-Commerce Super Seller, Quick Profits in Foreclosures, and Getting Started with Multiple Sources of Passive Income. There were a lot of speakers actually with lots more topics but I can only work out a few because of my work schedule.


The focus of this year’s Money Summit and Wealth Expo 2011 is about earning massive passive income. Passive income means earning money that works for you not the other way around. To give you an gist it revolves around dividends, interest income, capital gains, rental income, franchise fees, licensing fees, royalties, affiliate income and more. What’s great about the conference format is that they invited the best in the industry to talk about their forte and there was a combined effort to induce proven and practical strategies to earn massive passive income with no financial jargons you won’t understand.

This post should give you more or less a head start. I would also like to commend the organizers for having a smooth and entertaining flow despite the travel constraints of the speakers and formulating the program content, digestible and relevant materials presented and hyping up the energy level of the audience was top notch. Who knew finance could be this exciting?


Here are some keypoints that I learned from the host:

Not everything is taught in school. Earning money takes a lot of experience and skills training in the real world. 
Successful people became rich by trying, doing, experimenting, practicing and failing. Luck is merely the thin line between opportunity and preparation. 
The greater the adversity, the greater the chances for success. 
For Cebu to become a first class city, you gotta be first class citizens too. 
The speakers agreed that Cebuanos are hard to please and is quite shy. I mean it is proven a lot of times not just on that seminar. 
Be bold, be fearless.


Things to know about multiple streams of income:

Be a full time family man. Know your priorities. 

Juanis Barredo has addressed audiences over 8,000 customers and investors nationwide.
Juanis Barredo has addressed audiences over 8,000 customers and investors nationwide regarding the benefits of investing in the Philippine stock market.

Know stock market or if you don’t have time to learn everything about it go to Citiseconline.  
Investing in stocks is not scary, you just have to approach the right broker such as BDO or Citiseconline and just wait for your money to grow without working hard for it. 
Learn internet marketing and earn from it. 
Do events organizing. 
Invest in interpersonal skills.

Things to know about Real Estate:


Noli Alleje founded The Property Forum Inc which has networked with some 15,000 licensed real estate brokers and thousands of property consultants through its membership with top real estate organizations in the country.
Noli Alleje founded The Property Forum Inc which has networked with some 15,000 licensed real estate brokers and thousands of property consultants through its membership with top real estate organizations in the country.

Time cures real estate mistakes. Pampanga was covered in lahar before and people just wanted their land out of their hands so they sold it cheaply. Now Pampanga is an agricultural and real estate haven since the new soil formation could hold water so well and that a lot of adventure trails and resorts have benefited from the transformation as well. 
Buyers beware. Be careful about fake land titles. Always check with the Register of Deeds, that is why foreclosed properties are better since papers are clean because the banks capitalize on keeping their reputation. 
When buying the property, ask yourself what to do with it: hold, sell or lease? 
Inflation rates increases your asset value. 
Buy properties where the path of progress lead, not where it is already advanced. You can check with your municipality about the RORO stops or the Philippine Nautical Highway. 
Don’t fall in love with your investment because it is going to be very hard to let go.



Things to do when doing e-Commerce:

Eireen Diokno-Bernardo is a recognized eBay and PayPal as E-Commerce Education Specialist for Southeast Asia. She is also recommended by Jim Griffith, the Dean of eBay University in the U.S. as an eBay Education Specialist for worldwide online trading in the Philippines. She has been endorsed by UnionBank for E-Commerce and E-Learning.
Eireen Diokno-Bernardo is a recognized eBay and PayPal as E-Commerce Education Specialist for Southeast Asia. She is also recommended by Jim Griffith, the Dean of eBay University in the U.S. as an eBay Education Specialist for worldwide online trading in the Philippines. She has been endorsed by UnionBank for E-Commerce and E-Learning.

Have a Paypal account for safe online money transactions. 
Aside from selling, you can also earn from eBooks, Consultancies and Webinars. 
Philippines is considered just a potential market by EBay but with a collective effort to put every world-class product sonline, we can be an emerging market online. 
There is no such thing as financial freedom since you will always need more. 
We, as a nation, know how to create but we don’t know how to market our products. Keep on selling! 
Shipping is very important. Know the carriers, know the rates, know the calculations and have a great relationship with your shipper. 
Study which products will sell online. Ebay can show you which products got sold and how much. 


What are you waiting for? Stop procrastinating and start a great life now!


Thank you so much Learning Curve Inc.!



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