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Showing posts with the label Finance

Best Way Of Tipping The Web

Tipping is a form of gratuity, a recognition or appreciation of something like a useful content or online service, a helpful video, an exemplary music, etc. When you like a post/photo on Facebook you click the "Like' button, but in tipping you back it up by paying a micro amount(usually in cents) called a tip to the content/service provider. Sites like Flattr  cater to tipping, however, it uses PayPal for payment processing and I have a very nasty experience with PayPal . I avoid it like a plague. If you're a supporter of Buy Me Coffee type of tipping, check me out at Ko-fi and Buy Me A Coffee . AddThis offers a Donate Button that supports Amazon Smile, Cash.Me, Patreon and Venmo, on top of PayPal. You can see it in action on this page. Since tipping involves micropayments, I think Bitcoin is better suited for this purpose. With Bitcoin it is hassle-free to send tiny amounts and doesn't entail any deductions or fees. Plus it doesn't require any integration of th

How Much Is USD/PHP Right Now?

The Philippine Peso actively fluctuates against the US Dollar and its very important to be updated of the latest exchange rate, especially if you are an OFW(Overseas Filipino Worker) or in my case a home-based Web Developer with overseas clients. To know the latest rates, not just the USD/PHP but on other currencies, I use Google.Com. I bet you're surprised, but Google is more than just a search page. Check out the current USD/PHP exchange rate. How did I do that? Easy, search for "1 US Dollar = Philippine Peso" like you normally would. Google is smart enough to understand human language, try "1,000 Yen = Philippine Peso" for example.

What Is Bitcoin And More Questions?

Some financial experts say that Bitcoin will be the future's currency. I agree because it is what money is not. So what exactly is bitcoin? Bitcoin is technically described as the first decentralized digital currency, also known as crypto-currency. It was created by Satoshi Nakamoto in 2008. The keyword here is digital and that is what differentiates it from the physical money that we are familiar with. There lots of other digital currencies but bitcoin accounts for the largest share for these type of transactions. Each bitcoin identified by the currency symbol BTC, can be divided up to 8 decimals. The smallest unit being 0.00000001 bitcoin is called a satoshi in honor of the inventor. In between a bitcoin and a satoshi there are two other smaller units. The millibitcoin which is equivalent to 0.001 bitcoin and the microbitcoin which is equal to 0.000001 bitcoin, also called a bit. Bitcoin transcends sovereign boundaries and it is available to anyone who wants to use it, anywhere i

Best Personal Finance Tips

First is to secure a stable source of income. Apply for a high paying regular job, don't settle for anything less. Always budget. Money is finite and no matter how rich you think you are, if you don't manage it, you'll lose it all. That's why it is important to track your income and expenses, so you can make informed decisions when spending. There are lots of online tools for managing personal finance, but few really met my expectations. What I'm looking for is simple, I just need features like budgeting, keeping tab of income and expenses and reporting. I find Toshl  a perfect match, its the most user-friendly. Unlike other advance personal finance services, it is non-intrusive, there's no need to provide your banking details. Just enter your income or expense, select the category and/or tag, set the date and that's it. At the end of the day, all that matters is you are aware of how much cash is at hand. Right? Save on spending. To save money on groceries,

What Are The Real Estate Property Taxes And Fees?

The Philippines uses an adapted form of the “Torrens” system of land registration. This system assures the buyer that that purchase of land with an Original Certificate of Title(OCT) or Transfer Certificate of Title (TCT) or Condominium Certificate of Title(CCT) issued by the Registry of Deeds, is absolute, indefeasible and imprescriptible. When buying property always verify the authenticity of the title in the Registry of Deeds. If the seller only has a Tax Declaration, be extra cautious. Rule of thumb always requires a title. Real property can be either an ordinary asset or capital asset. Capital assets are subject to Capital Gains Tax. It is considered an ordinary asset if it is: For sale in the ordinary course of business. Used in business that the taxpayer claims for depreciation. Used in trade or business. In general, a property that does not belong to the above is capital assets. Properties can also be classified as capital or ordinary based on who owns it. If the owner is engag

Best Life And Health Insurance Services In The Philippines

There are numerous advantages in getting a life insurance, especially if you get one that also offers an investment option. Such type of insurance is known as variable life insurance. In 2008, I took Sun Life Financial's Sun FlexiLink plan. Sun FlexiLink is a peso-denominated insurance plan that provides financial protection at the same time gives you the option to choose where your premium payments will be invested. I selected the Balanced Fund. With variable life insurance, your plan's fund value appreciates/depreciates depending on the performance of the fund selected. In this aspect, it is similar to a mutual fund or UITF, except that your beneficiary is guaranteed to receive the plan's face amount, no matter what happens to the fund. You can also withdraw portions of the fund value if needed. On top of the face value and fund value, you get supplemental benefits such as the Hospital Income Benefit (HIB), which pays a daily hospital income in case of hospitalization of

Best Government Social and Health Investment Programs

SSS or the Social Security System is provided for private-sector employees and gives pensions to members who have a minimum of 120 contributions and is at least 60 years old. However, to maximize the benefits pay, a monthly Total Contribution of 1,760 PHP for the maximum Monthly Salary Credit(MSC) of 16,000 PHP as shown in SSS Schedule of Contributions . Pay it from age 54 until retiring at 65. Why? There are 3 ways to compute the monthly pension as explained in the SSS Benefits . This one generates the highest: Pension = 300 PHP + 20% of AMSC + (2% of MSC * (CYS - 10)) AMSC is Average Monthly Salary Credit and is computed based on the last 5 years. CYS is Credited Year of Service. The AMSC and the 2% of MSC multiplied by the CYS in excess of 10 years is the trick. Take note that SSS doesn't allow a drastic increase in contributions for ages 55 and above . So if one starts working at age 20 and retire at 65, the pension is 14,700 PHP. See how its computed here . If less than 120 c

Best Cash Cards In The Philippines

A cash card is an electronic payment card that stores cash for payments. There are several types of cash cards: debit cards, prepaid cards, gift cards, and payroll cards. Debit cards are linked to a bank account, while prepaid cards are not. Unlike credit cards, prepaid allows you to control your finances. You can use it without overspending or incurring debt as you're limited by the amount that's loaded on the card. PayMaya is a prepaid online payment app that enables the financially under-served to pay and shop online without a credit card. It is the first of its kind in the Philippines. To avail, download the free app, load up, and you're all set. It is downloadable on both Android or iOS smartphones. Although it is a Smart affiliated service, any mobile number can register. Load up is free, check out their list of partners here . I prefer using online bank transfers. The app generates a virtual Visa Card that you can use to shop online. Aside from shopping, you can bu

Best Affordable Properties In Iloilo

Most material thing's value depreciates through time. For example, a car bought for more than a million pesos, immediately lost a chunk of its value the moment it leaves the showroom. Real property, on the other hand, appreciates as years go by. Start with small lots and choose agriculture ones as they're more affordable than residential. It can be turned into a vegetable farm for extra income while waiting for a buyer. You can buy bargain properties at municipal tax delinquent and bank acquired property auctions, if redeemed by the owner after 1 year, you earn 2%/mo interest. Just make sure that it has a title as untitled ones may give you a big headache later on. In general, don't buy properties as long term investments, except for ones that have a high potential for future development. Instead, engage in buying and selling, the earlier you can dispose of it at a profit, the better. If the lot is large, subdivide it and sell the parcels at huge margins. A high-value prope

How To Raise Financially Smart Kids

The US Consumer Financial Protection Bureau published a set of activities and conversations to aid children in developing money skills, habits, and attitudes needed to become financially secure in the future. These activities and conversations are conveniently grouped according to age. The early childhood which is from 3-5 years old, the middle childhood for ages 6-12 and the teen years and young adulthood for 13 up to 21 years of age. Check them out. Personally, I suggest kids play games that involve financial decisions like Monopoly or Cash Flow which imparts fun in learning. Invstr  is a mobile app teaches them trading in a live environment through the Fantasy Finance game. Do stocks, forex, crypto, and commodities trading and win real cash prizes by joining the Invstr Fantasy League (IFL) and finishing in the top 10. When kids decide to start their own "business" like selling lemonade or candies, there's no need for you to provide capital, instead, use their own

Best Bank Accounts And Services In The Philippines

Start them young as they say. The following are some of the best savings accounts for kids. MayBank's Yippie Savings Account is specially made for children aged 12 years old and below. You can open as low as 500.00 PHP and comes with a passbook and ATM card. Maintaining a minimum balance of 5,000.00 PHP earns 0.25% interest per year. But the best thing about it is the free personal accident insurance that has coverage equal to 5 times the previous month’s ADB or up to a maximum of 500,000.00 PHP. If the situation arises, you can also avail of free medical reimbursements equal to 10% of the personal accident insurance coverage. Equicom's Kiddie Builders Savings Account offers a 0.50% interest rate per annum for balances 1,000.00 PHP and up. Kids 0-13 years old, can open an account for just 500.00 PHP. Account-holders are entitled to free dental and medical benefits from Maxicare when the balance reaches 15,000.00 PHP. The BPI Family Savings Bank is offering a very innovative a

Best Sites To Earn Online

People spend a lot of their time on the web, but most are not aware of the potential earnings that can be had. Stop wasting time and make money sharing your opinion in paid online surveys. Having said that, do be careful of scams as there are lots of them. See some of the most reliable websites below. Survey Savvy is associated with Luth Research which is a large market research company. Rewards range from $1 up to $15 for each survey. The least amount for redemption is just $1. But, it is delivered to you as check and processing may take 4-6 weeks. What makes the service unique is the SavvyConnect desktop and mobile application. By using it, your payments requests are expedited within a week and you'll receive more, paid research opportunities and invitations. Plus you get an extra $5 monthly! The caveat, however, might make you have second thoughts. The software and its browser add-ons collect data about web behaviors and browsing activities on the connected devices. If you'

How To Transfer PayPal Funds To Bank In Minutes?

The majority of home-based workers are dependent on PayPal for receiving payment from clients. However, despite its merits, PayPal does have a lot of issues. Withdrawing funds to the bank, for example, takes 2-4 business days. They also charge an extra ₱50.00 for transfers below ₱7,000.00 on top of the low exchange rates. To instantly receive funds, they extract an additional 1% fee. As for all things, there's a way to avoid the delay and the extra fees. Get the funds in minutes. This hack is however applicable in the Philippines only. What's needed is an Android smartphone with an internet connection and identification documents. On the phone, open Google Play , download, and install the GCash app. It is an e-wallet that allows users to buy load, pay bills, and send money. After registration , get fully verified by submitting an ID, selfie, and address. Full verification increases the cash in limit up to ₱100,000 per month. Link GCash to PayPal by following the instructions

Best Peer To Peer Investment Platforms

Poverty is a global problem, it exists even in economically advanced countries. One of the most effective methods of reducing it is to provide poor but business oriented people with the much-needed capital. With today's inter-connectivity advancements, it is now possible for lenders to provide personal loans to borrowers residing halfway across the world. Peer to Peer(P2P) lending is the practice of loaning to an unrelated individual(peer) without the use of traditional intermediaries like banks or financial institutions. This personal approach results to people gaining access to money at very low rates or even with no interest. It is an alternative financing system that's way more effective than banks. How do lenders connect with borrowers? It is through the use of free online lending platforms. One such platform is Kiva.Org . It is a non-profit organization with the main objective of "connecting people through lending to alleviate poverty". They have a worldwide net