9 Affordable Noche Buena Food Menu Ideas Under P2,000
- By Adji Hendrawan
- December 10, 2021
From what used to be PHP 824 to PHP1,039, LPG once again increased its prices last November to PHP 3.10 per kilogram.[1] Fuel prices per liter have also increased since January, marking a total net hike of PHP 13.15 for kerosene, PHP 16.65 for gasoline, and PHP 17.20 for diesel.[2] Fuel hike dramatically impacts the prices of basic commodities. And if this goes on, you’ll begin to wonder how much you’ll need to spend for sumptuous Noche Buena food this year. Will the holidays still be merry and bright amid inflation? Preparing for the most wonderful time of the year usually means preparing the best Christmas Eve celebration. But how much does Noche Buena food really cost these days? Well, you don’t need to worry because we’ve listed down a few affordable Noche Buena menus that cost under PHP 2,000. Note: Prices are based on the Department of Trade and Industry’s suggested retail prices[3] of Noche Buena products as of November 2021. Actual prices may differ, depending on the brand, product variant, and whether you shop in a dry and wet market or a supermarket. Noche Buena Menus Under P1,000 Menu 1 (Total Cost: PHP 634.25 to PHP 763.55) Lechon manok Spaghetti aglio e olio Cheese sticks Fruit salad Noche Buena Food List and Cost Breakdown: 1 whole chicken – PHP 150 to PHP 190 Pasta (900g/1kg) – PHP 57 to PHP 92.50 Olive oil (250ml) – PHP 144.75 to PHP 154.50 Cheese (200g) – PHP 47.50 to PHP 66.40 Lumpia wrappers (40 pcs) – PHP 50 Cooking oil (375ml)…
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International Shipping to the Philippines? 11 Best Options When Shopping from Global Online Stores
- By Adji Hendrawan
- December 6, 2021
Are you always on the lookout for affordable international shipping to the Philippines? Good news! There’s no need to blow your budget on international shipping fees anymore. You just need to find service providers that ship goods from abroad at affordable rates. Keep on reading to learn more about international shipping companies you can use to forward your orders to and from the Philippines. How Do I Ship Internationally to and from the Philippines? Contrary to popular belief, shipping to and from the Philippines isn’t that difficult. You just have to do your research first, determine the costs, and find the best courier for your needs. To ship documents, items, and other products from the Philippines to other countries, most people use LBC, DHL, EMS, or FedEx. These are some of the most popular international shipping companies in the country that allow customers to send items to their loved ones abroad. The shipping fee depends on the weight of the package, its classification, and the delivery address. Because of the popularity of online shopping, international forwarders seem to also pop left and right. Gone are the days when you still have to ask your relatives abroad to buy you the latest shoes. Using one of the many international shipping companies that offer package forwarding, you can buy from different US and other foreign online stores and have them shipped right to your doorstep. Most international shipping companies in the Philippines provide a US or foreign address you can use when buying online. You’ll also be notified once they have received…
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In-House Financing vs Bank Financing vs Pag-IBIG Financing: Which is the Best for Buying a Home?
- By Moneymax
- December 2, 2021
According to the Organization of Socialized and Economic Housing Developers of the Philippines (OSHDP), the lockdowns imposed since the pandemic started in 2020 have boosted interest in home ownership among young Filipinos.[1] There has been a shift in young Filipinos who are now more interested in owning a home than cars and gadgets. With this emerging breed of home buyers, what would be the best home financing option? Should they choose in-house financing vs bank financing? Or should they buy a house through Pag-IBIG? All Filipinos who intend to buy a home should know their financing options and how each one is different. Understanding these payment options will help future homeowners like you choose the best option to pay off your mortgage. So here’s a useful guide to help you. In-House Financing vs Bank Financing vs Pag-IBIG Financing: What’s the Difference? If you’re not paying for a house in cash, you can choose from three financing options depending on your situation and needs. What is In-House Financing? In-house financing is an option where a company offers a loan to consumers so that they can purchase goods or services.[2] Property developers usually offer in-house financing to home buyers who prefer it rather than bank financing. Approval for in-house financing is usually easy, and the process is also quicker. When Should You Opt for In-House Financing? Your home loan application from banks or Pag-IBIG is rejected A lot of people try their luck with a home loan from banks and other lenders. However, due to low credit scores, these applications usually get…
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Start Your 2022 Right: 22 Financial Goals to Add to Your List
- By Moneymax
- December 1, 2021
The importance of money couldn’t be underscored enough during the past two pandemic-stricken years. While you’re facing the uncertainties of the future, the truth that money is volatile and that it burns easily has become much clearer than ever. You’ve also come to realize that you need to learn not only how to make money but also how to keep it and make it work for you. The past months may have made financial independence sound elusive. But that shouldn’t be the case now. If you think that you’ve committed financial blunders during the past months, here are five words to comfort you: it is not too late. You still have time to correct your mistakes and start anew. And hey, you’re reading this article! That should count for something. You’ve made it this far, and you’re well on your way towards financial recovery and freedom. To help you make your 2022 the best one yet in terms of personal finance, here are 22 goals that you should take note of. What is a Financial Goal and Why is It Important? A financial goal is simply a target, whether it’s savings, investments, or personal growth, that you want to achieve over a definite period. Generally, it involves steps and strategies that will ensure that your future will be stable and secure. Here are a few reasons it’s important to set financial goals. 1. It Gives You an Idea How Much You Need to Save or Invest Your financial goal is basically the big picture. To achieve it, figure out how…
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Smart Ways to Spend Your 13th Month Pay
- By Moneymax
- November 25, 2021
Christmas is the most wonderful time of the year. With colorful decors, lots of items on sale, and celebrations everywhere, how to spend your 13th month pay can be the toughest question to answer. The desire and excitement to make yourself and your loved ones happy can turn your holiday budget planning stressful and painful. Of course, you want to reward yourself with the latest gadget for working so hard all year. Moreover, you also want to have a sumptuous holiday feast and give awesome gifts to your family. So you’re probably wondering: how to spend your 13th month pay wisely? Here’s a list of what you can do with your law-mandated cash gift.[1] How to Spend 13th Month Pay Wisely These are just some of the guilt-free things you can do with your 13th month pay. If you manage it properly, you can tick off several items on this list! Pay Off Your Debt Peace of mind is probably one of the best gifts you can give yourself this holiday season. By paying off your debts, you’re giving yourself the chance to have a debt-free future. Having the peace of mind that you no longer owe anyone money is simply priceless, and this will allow you to truly enjoy the holiday season and celebrate with your family. You don’t need to spend all your 13th month pay to settle all your debts, though. Start by knowing how much you really owe and pay off the loans with the biggest charges and fees first. Loans with the highest interest rates[2] are…
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[Battle of the Brands] SM Supermarket vs Puregold: Which is the Cheaper and Better Supermarket?
- By Adji Hendrawan
- November 18, 2021
Although Manila is one of Southeast Asia’s most expensive cities to live in,[1] it’s good to know that grocery items sold in the country are the least expensive compared to other SEA countries’ items.[2] Still, we’re always on the hunt for the best places to shop that offer good deals and a cheaper, wider range of products. So chances are you do your grocery shopping at SM Supermarket or Puregold, the two largest grocery retail chains in the Philippines. Choosing between these two retail giants can be difficult especially if you’re after affordability and quality. We’re joining you in your search for the better supermarket, so let’s find out in this SM Supermarket vs Puregold review. SM Markets Overview While SM Supermarket is under the same group that operates SM Hypermarket and Savemore, these three grocery store types are different from each other. (SM Markets is the mother brand of SM Supermarket, SM Hypermarket, and Savemore Market.[3]) SM Supermarket, the pioneer brand of SM’s Food Retail Group, sells a wide range of food and non-food items and services inside SM malls. Meanwhile, SM Hypermarket, a hybrid of a department store and supermarket, has a larger selling area and offers a broader array of non-food products (e.g., clothes, household items, appliances, furniture, etc.) than SM Supermarket. Its locations are either inside SM malls or in stand-alone stores. Savemore is a stand-alone, mid-format supermarket that’s smaller than SM Supermarket and SM Hypermarket. Built as a neighborhood store for impulse purchases, Savemore serves shoppers in smaller communities where the availability of grocery products…
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Online Business Registration in the Philippines: Guide for Online Sellers and Influencers
- By Adji Hendrawan
- November 15, 2021
Online businesses are booming in the Philippines, as more Filipinos have turned to selling and vlogging to earn money online after losing their jobs during the COVID-19 crisis. If you’re one of those financially struggling Pinoys trying to make a living through the internet, you’re likely to be worried about the recent BIR order requiring online sellers and influencers to register and pay taxes to the government. Online business registration and tax payment in the Philippines are mandated by the law, so online sellers and everyone making money online, including social media influencers, are expected to comply. Reduce your worries by knowing how to do these right. Here’s everything you need to know and do, from online business registration to paying your taxes to the BIR. Do I Need to Register My Online Business in the Philippines? According to the Revenue Memorandum Circular No. 60-2020,[1] the BIR requires registration for “all persons doing business and earning income in any manner or form, specifically those who are into digital transactions through the use of any electronic platforms and media, and other digital means.” However, days after issuing the order, the government clarified that not all kinds of online sellers are required to register. Exempted from the DTI and BIR registration are those selling products “intermittently or irregularly” and those selling homemade items as a hobby. According to the DTI, they consider such online sellers to be not in business yet, so they don’t need to register. Therefore, you have to register your business if you’re earning money regularly through any online means even if…
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Protect Your Fur Babies: Guide to Pet Insurance in the Philippines
- By Jay Pagkatotohan
- November 11, 2021
Your pet is essentially a member of your family. Their silliness takes away the stress of a long work day, and their constant companionship keeps you from being lonely. Because you love them so much, you make sure that their food, vitamins, and even clothing, are only of the best quality. But if you want to shower them with more love, do so by providing them with protection from life’s uncertainties―get them a pet insurance policy. While the concept is not new, getting pet insurance in the Philippines is not that mainstream yet. But you need to face the reality that pets can get sick, too, and their medical expenses can take a toll on your finances. So if you’re planning to get a policy, check out this guide to pet insurance in the Philippines. What is Pet Insurance? A pet insurance policy works just like a regular life or health insurance. The main function of this policy is to keep you from losing money due to unexpected pet-related expenses. These expenditures include veterinary bills, illness, accidents, and even burials. What Does Pet Insurance Cover? The coverage of a pet insurance policy generally includes veterinary treatments and medical expenses brought about by an animal’s health condition or accident. However, the coverage of the policies will also depend on what your pet may need in the future. Some pet insurance policies may have the following features and coverage: Cash assistance Lost pet Owner’s liability Total permanent disability Disablement or dismemberment Accidental death Owner’s accidental death Burial assistance Nevertheless, it’s important to…
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Are You Financially Ready to Buy a House in the Philippines?
- By Moneymax
- November 8, 2021
Rent takes up a huge portion of the household budget. You need to set aside at least PHP 5,000 to pay for a standard-size house. Of course, the rent will go higher if you need more rooms or a bigger garage for your cars, bikes, or motorcycles. If you’ve been paying for a house you don’t own for years, maybe it’s time to stop renting and start owning. But the important question to ask is, “Are you ready to buy a house in the Philippines?” Buying a house is not as quick and easy as buying stuff online. With all the options and factors to consider, it requires time, research, and money. Here are some things to check if you’re financially ready to own a house. Signs You’re Ready to Buy a House in the Philippines Buying a house is a journey that requires your financial readiness. Here are the signs you’re ready to become a homeowner. You Have a Low Debt-to-Income Ratio Home ownership is still a debt but in a different form. Unless you’re paying in cash, buying a house in the Philippines is generally tied to a bank or Pag-IBIG financing. This means if you’re still paying a huge credit card balance or a car loan, then it might be difficult for you to take on a new financial responsibility. Before you purchase one of those homes for sale, think about your debt-to-income ratio, which is the percentage of your gross monthly income that goes to paying your monthly debt payments.[1] Ideally, your debts each month should…
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Easytrip Guide: Easy Ways to Get and Reload Easytrip RFID
- By Adji Hendrawan
- November 5, 2021
Last year, the Department of Transportation ordered the full adoption of an RFID system in all tollways by November 2020 to help reduce COVID-19 transmission.[1] With the RFID system, contact between motorists and toll booth operators will be reduced and eliminate the need for using cash for paying toll fees. Which means you should be familiar with the Easytrip RFID by now. Perhaps you’ve also tried different methods to top it up aside from driving to the nearest RFID installation site, which can be time-consuming. Still, the the easier and safer alternative is to make your Easytrip transactions online. So here’s a quick guide to ordering, installing, and reloading Easytrip RFID online. What is Easytrip RFID? The Easytrip RFID is a government-recommended radio frequency identification sticker attached to a vehicle’s windshield or headlight for use in contactless and cashless toll payments. It’s a more efficient and safer alternative to cash for paying toll fees. Easytrip RFID Coverage Two tollway operators operate the different expressways in Luzon: the Metro Pacific Tollways Corporation (MPTC) and San Miguel Corporation (SMC) Infrastructure. The MPTC manages NLEX, SCTEX, CAVITEX, C5-Link Flyover, and CALAX, while SMC Infrastructure is in charge of SLEX, Skyway, NAIAX, STAR Tollway, MCX, and TPLEX. Each of these tollway corporations implements its own RFID system. MPTC uses Easytrip, while SMC uses Autosweep. This means Easytrip RFID can be used only on expressways managed by MPTC. Likewise, the Autosweep RFID works only at SMC Infrastructure-operated tollways. For example, an Easytrip RFID cannot be accepted at SLEX since it requires an Autosweep RFID. The same…
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Plan Your Time Off: Holidays in the Philippines and Long Weekends in 2022
- By Moneymax
- October 30, 2021
Any employee is looking forward to two things—paydays and holidays. Well, who doesn’t? Holidays in the Philippines allow people to spend some quality time with their loved ones, and that much-needed me-time before getting back to the daily grind. Start planning your vacations for next year by keeping tab of Philippines holidays in 2022. Here’s a quick guide to the Philippine holidays and long weekends that can help you plan your vacations wisely. List of Official Holidays in the Philippines 2022 There are 239 working days[1] and 16 holidays in the Philippines in 2022. According to research done by Gulf Business, the Philippines is one of the countries with the most public holidays in the world.[2] India tops the list followed by Columbia and the Philippines. Holidays in the Philippines are also grouped into two—regular and special non-working holidays. Regular holidays typically have a fixed date, like New Year’s Day, Labor Day, and Christmas Day. On the other hand, special non-working holidays are more flexible. They are typically enacted by Congress or declared by the President. However, recently, the Philippine government proclaimed three special working days to minimize work disruption and boost economic activity while we’re still dealing with the COVID-19 pandemic. List of Regular Holidays in the Philippines 2022 January 1, 2022 – Saturday (New Year’s Day) April 9, 2022 – Saturday (Araw ng Kagitingan) April 14, 2022 – Thursday (Maundy Thursday) April 15, 2022 – Friday (Good Friday) May 1, 2022 – Sunday (Labor Day) June 12, 2022 – Sunday (Independence Day) August 29, 2022 – Monday (National…
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How to Use PESONet Transfer Service: Guide for Consumers and Businesses
- By Moneymax
- October 27, 2021
Apart from paying bills and purchasing items online, you can now use your smartphone to transfer money in bulk. That’s right. Imagine, you can even send your employees’ salaries online. How? By using the Philippine EFT System and Operations Network or PESONet. Launched in 2017, PESONet Philippines allows users to transfer money to another bank or non-bank institution that also uses the facility. Keep on reading to more about how to use the PESONet transfer service. What is PESONet? PESONet[1] is a batch electronic fund transfer (EFT) credit payment scheme, which serves as an alternative to a paper-based check system. PESONet fund transfers are processed in bulk and cleared in batch intervals. There is no transfer limit with this fund transfer service. However, transferring money isn’t real-time. The receiver will get the transferred fund within the same business day, as long as the sender transfers the amount within the cut-off of their respective PESONet participating institution. This inter-bank fund transfer platform aims to make business-to-business (B2B) and person-to-business (P2B) payments more convenient. For example, corporations can use it to credit salaries to their employees’ accounts without the need to create special payroll accounts. PESONet vs InstaPay: What are the Differences? While PESONet and InstaPay are both electronic fund transfer systems, their functions are different. InstaPay is for real-time transfer of low-value amount. On the other hand, PESONet can handle non-time sensitive transfers in bulk. Below is a comprehensive comparison between these two electronic fund transfer services in the Philippines: How Does PESONet Work? Customers using PESONet can use their bank…
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Where Can I Invest My P1,000? 8 Investments to Consider (Plus Pros and Cons)
- By Moneymax
- October 25, 2021
“Where can I invest my 1,000 pesos?” If you don’t have a lot of cash right now but want to start investing, can you still invest a small amount like PHP 1,000 and make it grow? The answer is a big YES. There are investments for beginners and many other possible investments for different risk appetites. It’s really up to money-savvy Filipinos like you to find these investments and take advantage of them. Where Can I Invest My 1,000 Pesos? 8 Cheapest Investments in the Philippines If you have PHP 1,000 in your wallet or savings account right now, don’t spend it just yet. Check out these cheap investments in the Philippines first! Mutual Funds Minimum additional investment: PHP 1,000 A mutual fund pools your money with multiple investors into a bigger fund, which will then be invested in bonds, stocks, or money market funds. The funds are managed by a specialized mutual fund company where your shares are managed by a fund manager. The Securities and Exchange Commission (SEC) regulates mutual funds companies in the Philippines. Ideal for: Low to high-risk investors with long-term financial goals Mutual Fund Investing Advantages Mutual funds are among the best investments in the Philippines, especially if you’re a beginner and have no time and expertise to monitor your fund’s performance. The bigger your investment and the longer you invest, the higher profit you’ll get. A professional fund manager from the mutual fund company of your choice will grow your money and make investment decisions for you. Most mutual funds require a minimum initial…
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Scan to Pay: How to Use a QR Code for Digital Payments in the Philippines
- By Moneymax
- October 22, 2021
Electronic or digital transactions have become a part of the new normal. The pandemic has led to the increase in digital transactions, with businesses offering goods and services online and consumers paying for them through bank transfers, mobile wallets, and scanning a QR code in the Philippines. Thus, buying and selling transactions are slowly moving away from cash payments and gradually being replaced by QR code payment (also called scan to pay), which is considered faster, easier, and a lot more accurate. In fact, the value of QR code transactions in the Philippines has reached almost PHP 1 billion as of May 2021.[1] Whether you’re already doing QR code transactions or not, it’s worth knowing more about QR code in the Philippines and how it works. What is a QR Code in the Philippines? The meaning of QR is Quick Response. A Quick Response or QR code is a printed barcode composed of square-shaped grids[2] scanned through a smartphone or any computer system. Initially, QR codes were developed by a subsidiary of Toyota to track manufactured cars. Today, QR codes are also used to send and receive money in the Philippines. What is QR Ph? QR Ph is the national standard that uses quick response technology and code scanning for payments.[3] Through QR Ph, Filipino business owners and customers can enjoy cheaper, faster, and safer payment transactions. This payment system using the QR code was launched by the Bangko Sentral ng Pilipinas (BSP) in November 2019, initially for person-to-person transactions (P2P) such as payments and remittances. The ultimate goal of…
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How to Compute 13th Month Pay (Plus FAQs)
- By Ricky Publico
- October 19, 2021
Aside from Jose Mari Chan’s inescapable soothing voice, there’s another artist we Filipinos usually associate with the holiday season: the exhilarating vocal prowess of Aegis. Specifically, when they emphatically ask all employers in the Philippines to give everyone their Christmas bonus and 13th month pay. Indeed, you should expect a lot of cash flow going straight to your bank account, courtesy of your 13th month. Have you received yours yet? It’s time to learn more about this year-end benefit, especially how to compute 13th month pay, and all other related concerns. See them below. What is 13th Month Pay in the Philippines? 13th month pay is an additional compensation given to employees in the Philippines, typically at the end of a year. It’s a mandatory benefit provided to employees under Presidential Decree No. 851.[1] All rank-and-file employees who have worked for at least one month in a company are entitled to a 13th month pay, regardless of the nature of their employment and how they receive their wages. How to Compute 13th Month Pay Basic 13th Month Pay Formula in the Philippines Monthly Basic Salary x Employment Length ÷ 12 months If you want to know how calculate your 13th month pay, just multiply your basic monthly salary by the number of months you’ve worked for the entire year, then divide the result by 12 months. How to Compute Prorated 13th Month Pay For employees who worked less than 12 months, you’ll receive a prorated 13th month pay based on the number of months you worked for the company. For example, if…
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6 Best Banks in the Philippines for Opening a Savings Account
- By Adji Hendrawan
- October 15, 2021
Ever since your parents read you the story of the ant and the grasshopper, the importance of preparing for the rainy days had been instilled into your young and impressionable mind. And as you grew up, the value of that fable could easily be seen in how you saved up your baon so you could buy toys, comics, or whatever that would make you happy. Now that you’re a young professional, you’ve come to realize how important it is to save. Sooner or later, you’ll find yourself planning your first trip abroad, your wedding, and even your retirement. All these goals require a large reserve of cash, which will only exist if you’ve had a good head start. Kickstart your savings journey with the right bank―one that understands your needs and suits your lifestyle. If you don’t have an idea about choosing the best bank in the Philippines, this guide’s got you covered! In case you’re an expat who has stumbled upon this article, stick around as you’ll also benefit from this list. 6 Factors to Consider When Choosing the Best Bank in the Philippines The following factors will help you determine if a bank actually offers an exceptional service. Of course, you can always include other criteria that your experienced friends or family members have recommended. 1. Types of Bank The first thing to consider is the type of bank you’re going to work with. Banks in the Philippines can be commercial, thrift, rural, or digital. Each type of bank has its pros and cons. Universal and Commercial Banks…
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Free Online Courses in the Philippines You Can Take Up Today
Free online courses in the Philippines are easily accessible for you to learn and improve your skills anytime. Aside from being able to enroll and study within the comforts of your home, there are also a variety of courses to choose from. Whether it’s for finding a job, advancing your career, starting a business, or simply learning something new, you can find many courses that suit your needs and interests. Taking free online classes in the Philippines also allows you to explore your interests and help you decide which career or business path you want to take in the future. Choose from any of these options! TESDA Online Courses for Developing Various Skills The Technical Education and Skills Development Authority (TESDA), a government agency that handles technical vocational training in the Philippines, provides several free online courses in the Philippines. TESDA online courses are made specifically for employees, OFWs, professionals, unemployed people, students, and out-of-school youths. The TESDA Online Program offers a selection of courses, ranging from automotive and electronics to entrepreneurship and information technology. To access the free online courses, sign up for an account[1] on the TESDA Online Program website. After finishing a TESDA online course, you’ll receive a Certificate of Completion, and you can even apply for National Certification at any TESDA-accredited assessment center. This document certifies your competency for a certain skill and can be presented during job applications. 1. Managing Your Personal Finances Who should take this course: Anyone who wants to manage their money better and gain financial independence With modules on saving, investing,…
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LBC Express: Your Guide to Shipping and Other LBC Services
- By Adji Hendrawan
- September 27, 2021
“Ipa-LBC mo na ‘yan!” LBC is such a household name synonymous with padala. It’s one of the top-of-mind choices for shipping packages in the Philippines. When sending a balikbayan box to your loved ones, shipping goods to your customers, or receiving documents from government agencies, you’ve most likely used an LBC Express service at least once in your life. If you need to know more about LBC services, then here’s a quick guide for you. What is LBC Express? LBC Express[1] is the largest courier, cargo, logistics, and money remittance service company in the Philippines with over 1,400 branches nationwide. Established in 1945, LBC pioneered express delivery and cargo shipping, as well as 24-hour door-to-door delivery in the country. Overview of LBC Services LBC Philippines is well known as a package delivery service provider. Aside from shipping, it also provides a host of other services for individuals and businesses. Here’s a quick look at the LBC Express services in the Philippines. LBC Shipping Services LBC’s flagship product is its courier service, which allows customers to send and receive packages wherever they are in the country or even abroad. LBC ships goods via land, sea, and air. Land freight services – Door-to-door delivery of documents (passports, visa, birth certificates and other PSA documents, photos, etc.), mails (birthday cards, Christmas cards, etc., packages (clothing, groceries, gadgets, etc.), and cargo (furniture, vehicles, machinery, produce, etc.). Sea freight services – Cargo movement and delivery nationwide from the Philippines to abroad Air freight services – Fastest and most secure way to ship documents, parcels, and…
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How to Use Smart Padala: A Guide for New Users and Agents in the Philippines
- By Adji Hendrawan
- September 17, 2021
Smart Padala is one of the leading and most recognizable names in the Philippine money remittance industry. Even non-customers are probably familiar with the brand without getting a glimpse of its TV ads before. You may have come across its banners in your neighborhood store and practically everywhere. And you won’t even have to wonder what it does—the brand name alone tells what its business is all about. In local parlance, “padala” usually refers to the money sent to loved ones in the Philippines. You may know what the service is for, but do you know how it works? Before you avail of its service, learn more about how to use Smart Padala. Here’s a beginner’s guide to help you get started. What is Smart Padala by PayMaya? Smart Padala is a mobile remittance brand under PayMaya Philippines, Inc. that offers a range of financial services, including domestic and international money transfer, bills payment, and prepaid reloading. With over 55,000 agents nationwide, Smart Padala by PayMaya is considered the largest domestic remittance network in the Philippines. It reaches even far-flung areas, making affordable and convenient remittance services available to Filipinos who don’t have access to traditional banking products. Related: How to Use Paymaya App: A Complete Guide for Newbies What are the Other Services of Smart Padala? Aside from its core service, which is mobile remittance, Smart Padala offers four other services: 1. International Remittance Claims This is a new service of Smart Padala, which is made possible by its partnership with Western Union. So, if your loved one from abroad…
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Break It to Them Gently: How to Say No When Someone Asks to Borrow Money
- By Adji Hendrawan
- September 14, 2021
“May extra money ka ba diyan? Pautang naman.” Sick and tired of getting a request to loan money for the nth time? Wondering how to say no when someone asks to borrow money? What makes this situation tricky is that it’s hard to say no to someone dear to you, despite your best efforts not to care about what people think of you. But at the same time, you don’t want to compromise your own finances. Utang is part of the Filipino culture, so much that the percentage of adults with outstanding loans increased to 33% in 2019 from 22% in 2017, based on the 2019 Bangko Sentral ng Pilipinas Financial Inclusion Survey. Of those with loans, 44% borrowed from informal sources, particularly family and friends.[1] In other countries like Australia and New Zealand, family disputes stemming from unpaid loans even reach the courts. That’s rare in the Philippines. What Makes Lending Money so Awkward? When money gets into a relationship, things are bound to get weird and awkward. Money is considered a sensitive and intimate subject for a lot of people. That’s why people don’t normally go into specifics about their financial situations, how much money they have saved, and how much money they owe. So once you lend money to a friend or a family member, your relationship with that person also changes, whether you like it or not. They may feel indebted to you in more ways than one. Knowing that, it can also give you a sense of power over them. In short, you’re now a…
