Making It Fun in the Philippines

Is saving really a stranger to the Pinoy mindset ? It doesn't have to be and it shouldn't be as this simple guide will help form some new tips on how to save some money. No, this isn't a plan on how to get rich and be a billionaire. Rather, this is a practical saving plan on whatever income you have. Remember this -- lifestyle is not an indicator of one's financial status  plus this is all about trying to live as modestly as possible. Transportation Here's a good tip for people who are planning to buy cars. Don't buy a car if you can't afford to pay for gas. If you have to buy a car then don't choose luxury cars because the cost for labor and parts can be so expensive. A good car model to buy would be the Toyota cars. These cars don't cost much for parts and repair. The problem can come if you buy a BMW yet you are BWM -- in short Broke Without Money. So in short, focus on long term than short term with vehicle buying. Get an affordable, sturdy...

I still thought about the argument I had with some crazy 4Ps obsessed old man who insisted in the lie that 4Ps creates jobs when it doesn't. This is how he likes to brag about 4Ps as being "effective" aside from the non-existent 3x return and 5.88 multiplier effect -- he says that in order to increase jobs then you must increase spending. While spending is indeed necessary but remember not all spending creates jobs. Do you create jobs by spending your money on nonsense like karaoke, illegal drugs, getting drunk and the like? Unfortunately, that's where a lot of the money given during 4Ps goes and I guess he doesn't see it. Now it's time to look at another aspect of economics -- the importance of having bank accounts. It's not just about increasing spending (which is necessary at times) but also increasing BANK SAVINGS. You may ask how can bank accounts help keep the economy spinning? Do you even know why we need banks? You can think about the whole...

This is one problem that some people thought that the bank was unfair. I could give some basic lessons on penalizing savings accounts that caused it to reach to zero. I could share this very basic tip that doesn't need a financial graduate to understand it. Consider this fact that the banks do have their minimum balance policy. If you're told that you need a PHP 10,000.00 balance then you must abide by it otherwise you're going to keep getting penalized until your money goes to zero. I could remember the time I actually started opening a savings account and made sure I didn't go down below minimum and kept going above it. It's not that hard to understand that you need to keep your account active and maintain or increase from the minimum to avoid this incident from happening.  So what could have happened behind the scenes? Assuming that the person who had her money down to zero is an OFW then think about why many of them tend to remain poor . It doesn't matt...

After reading the Sunstar website this morning, one cannot deny that the Philippines has a rising economy and BPI is making banking more fun than it was before in the Philippines .  So what's in store for BPI (Bank of the Philippine Islands)? Here's my thoughts on BPI's foreigner friendly banking: 1.) BPI is getting ready for the 2016 foreigner influx.   It's time to put away the old Pinoy habit of not being ready and BPI is doing its image as an outstanding Filipino bank.  With a sense of readiness, who can deny that this bank is really getting ready.  The Philippines hopefully will open its economy up a little more to defeat unemployment, boost tourism and create a much bigger boom in the business world. 2.) BPI is giving its efforts to make DOT's tagline "More Fun in the Philippines" a closer reality Ms. Natividad Alejo, Head of the Retail Segments of the Retail Group of BPI has said that innovation will make it better.  Businesses must eithe...