MONEYVANTAGE: Rent is up for Property Rental Sector

Yesterday, I was alerted with the TV report from ABS-CBN regarding that the rent control law has finally lapsed last 31st December 2008 (see Republic Act 9341: Rent Control Act of 2005). I thought it was no big deal after all and finally realized that we do have rental residential/commercial properties in hand somewhere in Quezon City. I felt a bit ecstatic but somehow felt sorry for the people who we are leasing our properties. However we are adamant NOT to increase rent in order to compensate with the sudden slump in food business in which our tenant are involved with.

The demand for rental property is still high among urbanized cities particularly in Metro Manila. Still with the rapid urbanization and the immigration from people to these major cities the need for space and housing is still needed as major locators are not moving yet to closer provinces plus the business process outsourcing (call center) is still ongoing even with the slump in America and shifting to other countries not or less affected with the global financial crisis. Companies are still in need of housing for their personnel. Location of rental property, environment and neighborhood is also a key factor why people are looking for. As mentioned before, it should be close proximity, accessible to transport services and convenient for the tenant to get to where he/she works or intends to go. The closer the rental property to these factors the higher the rent is.

Somehow the RENT CONTROL LAW is beneficial for the poor and low-income families but the distributional effects are minimal since non-poor families have equal access to rent-controlled units. Philippines Rent Control Act of 2005 Provides rent control for properties with monthly rent not exceeding PHP10,000 in cities and PHP7,500 in other areas. Rent control maybe necessary to prevent economic eviction and abuses on payment of key monies.

Some lawmakers are encouraging people to avail the PAG-IBIG Housing loans in which they their rates are at 11.5% interest p.a. compared to their previous offer of 18% interest per annum a few years ago in order to acquire their dream house and residential condominiums.

Copyright 2008-2009 - PinoyMoneyVantage

No Arms, No Legs, No Worries

During one of the seminars I have attended recently, Mr. Dindo Raymundo was our motivational speaker at that time. He was able to share one of the life changing moments that had inspired on his recent travel to Australia. A life changing moment with this person of extra-ordinary abilities who is physically disabled but conquered the whole world with his wisdom through his evangelical thoughts and his speaking engagement that touched a lot of people's lives in the presence. His name is Nick Vijucic.

Nick Vijucic was well aware of his handicap but he was determined to show to people that he is just a normal human.

I was viewing his resume and found he is an extra-ordinary person with lots of trades wherein he is a real estate investor, stock investor and a businessman other than being an evangelist at the same time.

I have put the three part series from www.richgrad.com on Mr. Vijucic's seminar. I hope you get inspired with this man's word not only with his experience but for his spiritual sense in spreading God's words around the world.

You can visit his site at www.lifewithoutlimbs.org.

Copyright 2008-2009 - PinoyMoneyVantage

Government Securities: Retail Treasury Bonds

Last week, the Bureau of Treasury has formally announced its offer for a 3 year and 5 year Retail Treasury Bonds which has a coupon price 8.5% interest for the 3 years RTBs while 9% for the 5 year RTBs.

Retails Treasury Bonds are direct and unconditional obligations of the national government which primarily caters to the retail market or the end-users. They are issued by the Bureau of Treasury (BTr). They are interest bearing and carry a term of more than one year and can be traded in the secondary market before maturity.

Retail Treasury Bonds are safe, liquid and offer attractive returns to investors.

Features:
Issuer	:	National government
Term	:	3 and 5 years
Tax feature	:	Interest income subject to 20% final withholding tax
Type of income	:	Tax paid income
Rate	:	Fixed for the life of the RTBs
Coupon payment period	:	Payable quarterly in arrears
Interest computation	:	Simple interest/add-on
Manner of purchase	:	Auction or through secondary market
Retail Treasury Bonds are issued and sold at a price equal to be face value and are redeemed at maturity for the full face value of the instrument plus interest/coupon of the last period (www.mart.com.ph).

Copyright 2008-2009 - PinoyMoneyVantage

Budgeting Your Money: Most common mistakes people make

It's payday time. A lot of young professionals (yuppies) are on their trail to the nearest ATMs and they would sure look forward in a night out dinner with friends or do the usual night hops to bars and places of entertainment like a movies, shopping and others. After spending some on non-essential things they become guilty of losing their money in the end with debt from credit card companies and other IOUs with friends, relatives, your local loansharks even the legitimate lending companies around.

That's spells trouble alot for those who spend too much for nothing however only a few people know where they keep track of their weekly and monthly expenses in a regular basis which basically important in managing your finances in order not to overspend.

1. "I do not know where my money went" (Never Keep track of your spendings)
Solution: Track your spending and begin with a budget

A lot of people fear money management. This problem would definitely make a poor decision making and stop you from searching for that problem. It is better to face that fear and debt in order to get back to on track. It is better to track your budget by keeping your receipts and later track on your spendings and categorize in groups like for groceries, utilities, mortgage and emergency money and non-essentials.

Better to sit down, tally and categorize those expenses you incurred, a best example is to see your last month's worth of receipts including those that do not need receipt like buying some candy in a nearby sari-sari store counts as well. Keeping track of small and major expenses is highly recommended by putting it in a notebook.

Once you find extra cash, you can now save a portion and use the others for paying debts.

2. "I am maxed out with my Credit Card" (Credit Card debts rising).
Solution: Face on your creditors and negotiate

This fantastic plastic money is here to stay. We are faced with too much product advertisement of credit cards, with sales people littering around malls giving leaflets of credit card application and of course the cold calls they make during the early afternoons to mid-morning via their call center representatives. Some of our local big banks are offering credit card for free unless you are an account holder of their institution and having been banking with them for more than six months to a year. Back in my college days, lots of teenager can apply for a credit card through this major credit card firm and were in debt already in their young life.

Don't put yourself on situation that you hadn't paid up your credit card debt. Failing to pay your bills and ducking away from creditor's call can destroy your credit standing. Better to be straightforward than hiding yourself from them.

Contact your credit card companies - it is better to negotiate with your creditors tell them forward that you are unable to pay outright with money. Learn to haggle and tell them your lowest rates that can match with another credit card company. They sometimes accept a percentage of a full amount or help you set up a reasonable repayment.

Other things to remember on lessening your credit card debt:

3.) Do not take cash advances

Cash Advances - Instant cash indeed, they have the potency to make you get it but think a lot of time before receiving that money. Advances have sky-hight interest rates and service fees. In other word it is a expensive way to get cash. Better to slash those household expenses in order to prevent that short-term cash crisis.

4.) Don't miss payment dues

Credit Card companies pay a hefty fine on late payments, it is better to try paying online banking if you are beating the deadline. In short, being late on payments would definitely affect your credit score.

5.) Don't carry too much plastic on your wallet (too many credit cards would blow a hole in your pockets).

Having lots of credit cards is an easy way of piling those credit card debts. An instance, for example is a man who carry multiple credit cards wherein he pays the credit card A with credit card B. Better to control yourself on not misusing this tool.

It is better to limit your credit cards to two cards for easier money management. The first card is used for short-term purchases that you can pay-off in a month while the second card for major purchases.

6.) Don't make the minimum payments

This will stretch out your payments, with interest on hand, this will increase your overall cost on your purchase.

People think that "Credit Card is free money" but it is NOT. They do not know the concept of the credit card system, wherein you make a major purchase on that particular item through this credit card company and later pay it on before the due date or in a given time frame.

Save Smart, Spend Smart.

Copyright 2008-2009 - PinoyMoneyVantage

Why Kill the Electric Car?

As oil's skyrocketing price of US $150 per dollar with expectation of US$ 200 dollars per dollar in a few months to come. This trend sure hurts the end user / consumers pockets as inflation rate rose a notch higher from the previous months as cost for production of basic commodities are again at all time high. In my mind, these questions struck me. So you are spending a lot of money on gas and have started thinking of ways to reduce your gas bills? Or, you want to save the environment for our future generations from harmful carbon dioxide emissions?

Recently I was able to watch this video documentary made two years ago by Sony Pictures about the lessons learned on the lost of this great technology made, developed and mass produced by General Motors's - The Electric Car or EV1 model in 1996.

Going back to memory lane, I was fascinated with this technology back in the mid to late 1990s when Discovery Channel was still showing the "Beyond 2000" TV program plus its advertisement on the electric car that recharges its batteries using solar power recharging station or even in the luxury of their own home using 110 voltage of electricity.

It is tragic to see the loss of this technology when General Motors, Inc. (GM) pulled the plug on its EV1 project and scrapped out the remaining fleet to the leasee of these cars. The Honda and Toyota followed suit when they scrapped their SUV, pick up trucks and station wagon with EV1 technology for their gas powered , internal combustion engine cars.

It is amazing on seeing a few Filipinos innovators come up with the idea of reviving this lost technology. I got a glimpse of Gerry Caroro's GCar ( www.gcarmotors.com). You can view and test ride the car at Quezon Memorial Circle in Quezon City for P 30.00 per lap. I wish they could mass produce more of these cars but would generally wait for test result and road worthiness of these cars into the public roads for the future use of the general public.

Last year, Makati City government, GRIPP (Green Renewable Independent Power Producer), and Greenpeace launched its first electric jeepney for use as public transport. They are in for one year of test piloting their assigned routes. The e-jeepneys became successful have started operating last July 1, 2008. The e-jeepneys are locally manufactured by Motor Vehicle Parts Manufacturers Association of the Philippines - MVPMAP.

The e-jeepneys are operational and are plying the Makati routes as follows:

Route:

• Salcedo Village – from Dela Costa St. turn right to Makati Ave., right to Paseo De Roxas, right to Villar St., left to Leviste St, left to Rufino St., right to Ayala Ave. and right to Dela Costa St.

• Legazpi Village – from Salcedo St. turn right to VA Rufino St., left to Adelantado St., left to Gamboa St., left to Salcedo St., left to Benavidez St., left to Paseo De Roxas Ave., right to Legazpi St., left to Dela Rosa St., and left to Salcedo St. (Source: www.makati.gov.ph)
  

In other parts of the country, a Dumaguete-based startup company called Insular Technologies (www.insulartechnologies.com) assembled its own version of electric vehicle with the help of Greenpeace International. The company was co-founded by Rene Tuballa. It first debut during the founding anniversary of Siliman University on August 27, 2007.

We need these zero emission, no pollution technology in this hard times as fuel prices are getting higher everyday, we need to save mother earth which we are slowly killing through global warming. How I wish that the innovations made by our Filipino scientists would not turn into obscurity as a museum pieces because we need these alternative technology now.

Copyright 2008-2009 - PinoyMoneyVantage

MONEYVANTAGE: Bank Deposits and Personal Savings Accounts

What is the purpose of bank deposit savings? A lot of people ask questions on why save your money on a savings account?

Savings accounts are accounts maintained by retail financial institution that pay interest but can not be used directly as money (by, for example, writing cheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return (see Wikipedia). A savings account can be in passbook or in Automated Teller Machines (ATMs).

A lot of people underestimate the use of savings account in bank although it only earns about one percent (1%) prevailing rates in the Philippines. Still a savings account is useful in many financial aspects. Saving money may be placed in short term or long term goals still the purpose he/she must undertake in securing his/her future. An example of the uses of this investment tool are raising for a down payment in order to purchase a property (condominium or a house & lot) or an automobile, setting up capital for a future business venture, or can be used as emergency fund, used for transferring fund via mobile banking locally or abroad or a keeping your personal secret stash.

Opening a bank savings account is easy, the purpose of opening a savings account for a smart financial investor is to "contain or temporarily store" some of your money in a bank and at the same time it can be used as a financial statement in acquiring bank loans (housing, automobile and personal loans), buy some other financial investments offered by this financial institution that produce higher yields. An example of this is buying a retail treasury bond in government controlled banks like Development Bank of the Philippines and Land Bank of the Philippines wherein it requires an initial deposit of PhP 5,000 on your savings account before buying Retail Treasury Bonds worth PhP 100,000.

For a clearer view, let set an example:

Ramon is a 9 to 5 office worker, he receives a an average of PhP 14,000.00 a month. He is a novice investor and have average knowledge in investments thanks to his peers encouragement in reading financial planning books and attended some free financial literacy seminars. He saves a portion of his salary because his goal is for him to set aside money for emergency fund that is good for six months in case he lost his job (or get sick), set aside a downpayment for his equities on his planned purchase of a PAG-IBIG accredited development (house and lot package) in Cavite and at the same time save for an initial capital for a small time enterprise or business in the sides in by next year.

He maintains five savings account which he manages from different banks, he puts up his goals into action.

BANK
ABC Bank: saves money for Contingency or Emergency fund
XYZ Bank: saves money for a purchase of higher yielding investments (ex. stocks, mutual funds, Value Unit Linked Insurance, etc.)
LEVI Bank: saves money for initial capital of his small business.
EFG Bank: saves money down payment in acquiring a buying a house and lot with an Pag-Ibig accredited property developer in Cavite.
BBB Bank (ATM provided by his employer): Salary and personal expense fund.

When time and money matures they can eventually use the saved money in their specific goals or reinvest it with higher yielding vehicles like equities, mutual funds, money market bond funds, UITFs etc.



Copyright 2008-2009 - PinoyMoneyVantage

Food Security in our Midst!

The Philippine government is beefing up its resources on importing rice in Thailand. It already had talks with the foreign minister of Thailand last month and agreed with the our government's dealing.

Are we hungry now? As of most of the SWS surveys it says YES. They say majority of the urban poor are getting hungrier much less to the countryside are experiencing the same.

I had deep thoughts on this regarding the need for food as we are now experiencing rice shortage with people looking for a much cheaper variant of rice coming from National Food Authority (NFA). Mindanao is experiencing much worst than their Metro Manila counterparts because rice prices of other variants rice to P 50.00 per kilo. Rice hoarding is now rampant in this parts of the Philippine. A lot of people are now experiencing hunger even we tighten our belts to save but somehow inflation is keeping up on us wherein it already peaked at 9.6% as I read yesterday's broadsheet with the tumbling value of Philippine peso to dollar at US$ 1.00 to PhP 44.00 on the foreign exchange rate. Some of the financial and international affairs expert see that inflation can go to double digit in a few months time not only here but around the world.


In the light of the looming rice crisis that the Philippines and other countries experiencing right now. Local provincial government of Oriental Mindoro had taken step in encouraging agriculture to be taken by jobless out of school youth. This program not only provides jobs but also the knowledge and skills for these young folks to take up farming which is essentially important nowadays making Oriental Mindoro the rice capital of region 4. In the first place, our country was based in agriculture but in the past couple of decades it came to a point that industrial and advance technological age is keeping up with our country and less people are taking agriculture as business and settled for a much newer career outside of farming in the rural to the urban cities.

Copyright 2008-2009 - PinoyMoneyVantage

Fueling Change, Saving on Gas: What my thoughts are.

Timeline of Oil Dependence from 1940s to the Present Times

Graph Courtesy of Fuel Focus Natural Resources Canada

Oil has become a major commodity in the world market today. It finally breach to US $135 per barrel on crude oil. In fact, we are really suffering from a chronic pain of disbelief as inflation reach its all time high of 6.2% last April of this year. Bangko Sentral ng Pilipinas is geared in cutting down the interest rates in order to lessen the inflation increase of all commodities.

What is happening around the world, people of all walks of life are affected with this. Protests in Indonesia have erupted when the Indonesian government have cut its subsidies on oil products, Egyptians in Cairo and other cities have decided to leave their cars and depend on public transportation system available. Meanwhile, Spanish fishermen leave their fishing boats for protest against the increasing crude oil price. This is what is happening worldwide when I turned on the TV watching CNN's Fueling Change segment a few hours ago. Americans living in major U.S. cities decided to scrap their gas guzzling SUV for a smaller yet less gas consuming compact cars.

Reading the a broadsheet the other week, President Bush met with Saudi King Abdullah in order to increase the oil production but Mr. Bush's appeal was turned down by the Saudis because they are maximizing it already (see article). The demand is too high so the prices are soaring already.

The other day, I was watching the Correspondents on ABS-CBN late night, seeing the alternative fuel of some priest inventor was scrapped because limited support was given by our national government on this people. Alternative fuel is the solution here and so does becoming eco-friendly fuel products must be propagated.

Right now, I am no longer using my car often. Everything is already planned out before going out in using an automobile. I turned again to the public utility vehicles as my mode of transport. With the soaring fuel cost of P 50.00 or more per liter who would not think again about this. I wouldn't like to see myself waste my money on fuel that is no longer affordable having felt the pinch already.

I've been amused with this article from CNN Money (cnnmoney.com) on the 6 gas saving myths I have read on their weblink through yahoo the other week. You may click this link - six gas saving myths on CNN Money.

Also I have added links on history of oil discovery and dependence from Kipnotes.com which is definitely interesting and for additional knowledge for everyone.

Copyright 2008-2009 - PinoyMoneyVantage

On Scam and Con Artist in our society

In being a Real Estate Broker there are times when I do find scamming artist prowling some of those small time business talks and free seminars happening within the metro. Such an example of this when I attended the Free Entrepreneurship seminar conducted by a group of Chinese-Filipino businessmen in Binondo, Manila.

I get annoyed with these types of people and most of these guys are con-artist in a sort of way of enticing some hapless person to see and later buy that piece of real estate in Bataan. Example of this is that they are selling pieces of properties in hectare within Morong, Bataan. I know this place because some of Morong's portions are under the Subic Bay Metropolitan Authority's property and under the Bases Conversion and Development Authority and also some of them are under the jurisdiction of Department of Natural Resources as well because Subic is a virgin rain forest of the country and the others were already acquired with Ayala Land Inc with joint venture agreement with Subic Development Company (SUDECO). Other than that, some of those properties are still under the name of the Republic of the Philippines.

There is also an instance on of the books I read, "Real Estate Lesson by Eduard L. Tan" wherein a group of syndicates with connection with higher officials in the government are able to get a piece of property inside the La Mesa Dam, Watershed and Eco Conservation Park. It was sad that they have already titled it under their names and are willing to contest in the courts. Also remembered an article from Philippine Daily Inquirer (see Link).

Right now, there are many financial scam plaguing our people, the most recent I have seen, read and heard in the media this early 2008 was the Royal Manchester Five or RM5 for short. The company was up running for the past 7 years. Cyrus Hao and Renato San Juan are now at large and have already have gone out of the country hiding from the prying eyes and hand of the law. Doubling your money in 5 or 6 years is reasonable, given the less than 15% average compounding rate required to do so. But if someone promises to double your money in one and a half years, which is what 4% a month or 48% a year does, it's obviously a scam. That's probably a
pyramid or Ponzi scheme.

Other high profile cases that have recently flaunted the media and people are FrancSwiss, Multitel and many others that have vicitimized the hard-working people, the middle class and even the few of affluent people in our society even the personalities which have kept themselves silent from these issues from the media.

There are also other informative to watch out for regarding con artist and scams, I read the issue of the January and February 2008 issue of MoneySense which is undoubtfully useful even the back issue of FHM (2006) was also a useful on small time crooks and syndicate prowling the street for unsuspecting victims.

Don't be fooled with these types of people. They will rip your hard-earned cash so don't put yourself into misery.

MONEYVANTAGE: The Property Sector

It has become the best choice in investments for most people as a vehicle or income stream. Real Estate values appreciate for the past few years and started booming after 1997 Asian financial crisis was over in 2001 at that time when Asian countries have finally recovered. Year 2002, where most of the major developers and private contractors have started running their engines for the bull run up ahead as the Philippine economy is on a swing again.

Source: "Investing in Stock Market Today" (www.citiseconline.com)

Right now it is a Buyer's Market wherein the demand of real estate is high but somehow it is a little bit slowing down due to the U.S. financial crunch of what our North American-based Filipinos are experiencing right now yet it is favorable for our local young urban professionals, OFWs living in the European countries and elsewhere to invest in the Philippines because they are somehow not affected with the US$ dollars decline in value due to the fact their are using Euros as their currency plus the low interest rates from our local Philippine lenders and banks, flexible payment terms and schemes from the developers had also attracted favorably to the end-users.

According to Global Property Guide, House prices in the Philippines rose by 14.29% y-o-y to Q2 2007, up from 8.45% y-o-y to Q2 2006. Strong economic growth and the continued inflow of remittances from Overseas Filipino Workers have been fueling the housing market in the Philippines. Our total U.S. $ dollar reserves reach a whopping U.S.$ 34.8 Million dollars from its previous U.S.$ 8 Million dollars according to the reports of Bangko Sentral ng Pilipinas (BSP) as of this writing.

Somehow Filipinos put a great value in owning a property in order for them to secure in the long term on their retirement age here in the Philippines. Not only that our retired fellow Filipinos who are coming back but the majority of foreign expatriates and retirees coming here to study, do business or even live their transition ages in style. Prices of commodities are less expensive compared to theirs, cost of living is not that high with the value of money they are receiving from their pensions able to sustain and compensate them with excess cash on their hands, Climate in our country is tropical it is mostly sunny and rainy wherein most of these foreigners would like to frolic in the hot sun.

REAL ESTATE BOOM continues as seen on the Philippine Industry Growth Cycle which has becoming relevant for those who are engage in stock market. The propery sector is in the growing stage and would likewise pick up the pace in the future.

Copyright 2008-2009 - PinoyMoneyVantage

MONEYVANTAGE: An Introduction!

DO YOU HAVE DREAMS OF BECOMING RICH?

It was always my dream and everybody's dream to be rich. Not in the sense of being materialistic. All we want is to have everything in our life. Being complete as a person especially becoming mentally, physically, and spiritually rich in a sense. The these three element should be balanced.

Since late 2005, I have taken interest on a lot of things, read lots of books and attended seminar regarding different financial streams and investment as what most rich people do. Just a few of examples are investing into Real Estate, Stocks, Mutual Funds, and venture as an entrepreneur in creating a business as well that could provide cashflow and at the same time provide jobs also. Robert Kiyosaki's Rich Dad, Poor Dad book gave me the insight on his life on how he failed and at the same time succeed in what he does today (engage in real estate and other businesses).

Currently I am into real estate and have been in the industry for the past three years, the property selling business is still good and the demand is high especially for Business Process Outsourcing (BPOs), Filipino-foreigners and Overseas Filipino Workers (OFWs) who would like to own a piece of the Philippines. The flow of income is great. In comparison to my current job in a different sector outside of my real estate venture, it is twice or thrice bigger than what I have receive from my 15-30 paychecks for the whole year including Christmas and performance bonuses I received from my job combined.

So far, I have diversified some of my earnings through mutual funds, invested in a small business which eventually failed a month ago (I will definitely try another or do the same business again with much improved product and location availability) and will soon dabble into the complex work of the stock market which became an interest for me since 2001 when I was a 19 year old college student. I never learned stock market and understand the stock trading even if I signed up for the virtual stock exchange in the internet for young people in the U.S. and eventually lost interest in it because I have no mentor or no one to teach plus the hectic schedule of being in college and hitting the books all the time ate most of my time.

Later this month, I took great interest again on the stock market when I have seen the ANC News Channel on the free seminars conducted by CitiSecurities, Inc. / CitiSeconline, an Online Stockbrokerage company (www.citiseconline.com) named "INVESTING IN THE STOCK MARKET TODAY" which I have attended a week ago on their head office in Philippine Stock Exchange (Tektite) Building in Ortigas, Pasig City. It gave me a a new things to learn on investing in other stream of income generation even if it running on a bearish market and I am crossing my finger on have a bull run in the next few months before investing a portion of my earnings and savings into the stock market.

Failing is a process of learning, as I have mentioned earlier I failed my first commercial business. Me, my sister and her partner from school have ventured into the Food & Beverage business. We were selling budget friendly pasta and pizza for college kids in a well-known college in the University belt area - Manila. Business was good and picking up in the first few months but somehow, we incurred tremendous losses during the semestral break and Christmas break. It blew our hats off and realized we are heavily loosing money and our capital is bleeding when we finally decided to close our joint-venture enterprise. Somehow we learned how to manage some issues and settle some misunderstanding on what happened but the trials didn't deter us our will and spirit in becoming the young entrepreneurs of the future as in we are making our product better.

So far the most spiritual and inspirational book a I have read was Bo Sanchez's 8 Secrets of the Truly Rich. It emphasizes on the notion that even the poor can become rich in terms of getting out of debt and even fuelling our urge to succeed with God's guiding hand. It awakened me spiritually and I have given thought about why most Filipinos are poor is due to negative thinking of "MONEY IS THE ROOT OF EVIL".

I dreaded that word before, if you read the bible on 1 Timothy 6:10. Money is NOT the root of all evil but "THE LOVE OF MONEY IS THE ROOT OF ALL EVIL" (see entry). That mindset of "MONEY IS THE ROOT OF ALL EVIL" is what is keeping us poor. I am telling you that you can make money your ally and even make your money work for you harder as your slave and NOT being enslaved by money. Through proper financial know-how and also gaining the financial literacy we need as Filipinos. It was so sad on watching it on TV news that 8 out of 10 Filipinos do not have or ignorant on financial literacy and how money works and other things.

I know that our formal education system did not educate us or provided little know how on personal finance is. However, this is fresh start for me and you also in gaining those insights and knowledge that therefore would make wiser decision in your spending habits and at the same time saving something for retirement, for business and even a little something for pleasure once in awhile.

Copyright 2008-2009 - PinoyMoneyVantage