In my posts on my social media and here on the blog as well, I've declared myself as DEBT-FREE in early 2021!  I couldn't express how liberating it was to declare that I've paid all my dues to the credit card companies as well as other financial institutions with lending as their business.  But it was a different story two decades ago when I started to bury myself in debt.

Photo by Avery Evans on Unsplash

To cut the long story short, I accumulated a credit card debt totaling to around Php 1.3M.  This debt was from six (6) different credit card companies which spanned about 20 years.  Unbelievable right?  Looking back, I wish I knew better.  I wish people were more open to financial literacy.  I wish I was open to getting advice from financially literate people.  I also wish financial advisors were as popular as they are right now.  I also wish I was taught how to properly budget and lived within my means so that I could have avoided the debt that drowned me, financially speaking.

You're lucky you're now in a different era where there are many sources that tackle financial literacy.  I too learned a lot from my financial advisors.  But the most important of all apart from listening to them are having these qualities: humility and being open to learning.

When I learned how my spending and saving patterns were flawed in all levels.  I started correcting the mindset that I have when it comes to money.  I also realized how wrong my perceptions or understanding of credit, hence, I had a really bad credit history.

For years, I survived the anonymous calls I get asking me to pay them.  I got countless demand letters to pay their bank clients.  I was harassed by collecting agencies.  I was running away from my debts like a headless chicken.  I thought I was successful at hiding from them because they all gave up.  I could just decide not to pay them anymore.  But my conscience says otherwise and as years passed and I learned more about finances, I knew I really have to settle all my debts.

Sharing with you why I paid all my debts and why it's important to do so, even if no one's running after you anymore to pay them.  You may evade them, but at the back of your head, you still can't escape the truth. 

WHY I PAID ALL MY CREDIT CARD DEBTS IN FULL

• My conscience couldn't take it.  I may have successfully escaped from the wrath of those harassing collecting agents, but I can't ever escape the hard truth that I owe someone (banks) some money.  Money or credit I took or spent in exchange of goods and services but I never paid back.  I just can't accept the fact that I did such.  

• Being debt-free is having peace of mind.  It was an instant relief to be able to pay debts in full.  I can stand in front of anyone and look them in the eye to say I owe nothing to anyone.  I can finally sleep without worries that someday, a collecting agent would resurface my life.

• Paying in FULL saves me more money.  When you pay in full, sometimes, they recompute your principal and give a discount.  If you decide to pay in installment, that's also good, but there may be some interests to be paid, hence you pay more than what you should.

• Bad credit history will affect your future.  I learned the hard way.  When I was applying for a housing loan, no bank approved even if my present supporting documents say that I can afford paying the amortization.  They will always look at your credit history.  Your debts, especially credit card debts will almost permanently define your capacity to pay, even if at present you can afford it. 

The residential rental business is one of the in-demand businesses nowadays in the Philippines, whether in the metro or a tourist destination. This demand is due to a growing number of families and individuals moving to different places in the country for leisure, work, and educational purposes. With a high demand for properties to lease, the income and ROI for starting a residential rental business is also guaranteed, making it a good and stable source of passive income for individuals and families.

Photo by Harmen Jelle van Mourik on Unsp

What to Expect When You Rent Out a House and Lot

For beginners in the residential rental business, renting a house and lot is the best way to go. This is especially ideal if you own a vacation home in one of the tourist-friendly areas in the country or an extra home in a major city.

Suppose your home is located in a tourist city like Siargao or El Nido. In that case, you can lease your home on a short-term basis, often to vacationers who need to occupy a bigger home during their visit. If you own a home in a major city in the country, such as Metro Manila, expect that it will be rented for a long-term basis, which assures a more steady income. Families or even groups of employees will often be your primary potential tenants.

Renting out a house and lot is ideal because you can focus your attention and finances on one home only, so if any repairs should be made, it is easier to address them so long as you have the needed funds. Moreover, since you’re renting out a single house and lot, you only deal with one contact person or tenant when your home is being rented.

What It’s Like to Rent Out an Apartment

Photo by Tierra Mallorca on Unsplash

If you are a seasoned landlord and you know the ins and outs of owning and renting out an apartment, it is recommended that you start an apartment rental business. To save on money and time, you can also consider purchasing an apartment for sale in Manila and other parts of the Philippines instead of constructing an apartment from scratch. Often, already established apartments have existing tenants, so you already have existing tenants when the ownership is transferred to you.

Owning an apartment also allows you to have a steady, secure income since you’ll be getting a considerable amount of money every month from your tenant. If your apartment has multiple units, you can even live in one of them so that you can be more accessible to your tenants and address their concerns in advance.

The Life of a Landlord

Being a landlord is not all about collecting money, though. You have other responsibilities to do to make your business thrive. These include screening your tenants, maintaining your property, and composing a contract for every tenant for your peace of mind and their security.

Renting out a property takes a lot of time and consideration. May this overview of being a house and lot or apartment landlord help you decide which property you should invest in and rent out to earn a steady passive income in the Philippines.

That said, the ease of performing digital transactions and other activities means there’s a lot of data online that can be stolen. Indeed, cybercriminals are always coming up with new ways to outsmart customers and breach security systems.

The good thing is that there are plenty of simple ways to keep all your online accounts safe from cyberattacks. Here are some tips to follow:

Keep Your Credentials to Yourself 

This is the cardinal rule of internet security: never share your credentials with anyone. Whether it’s for your online banking account or your social media account, keep all the details to yourself. Only you should know your login information, including security questions and answers.

Even if it’s an emergency, don’t let anyone access your account. Instead, find a place where you can securely connect to the internet and conduct the transaction yourself. If you must log in using a computer or smartphone that’s not your own, remember to delete the form history and don’t accept the prompt to save the password.

Use a Password Manager

Another important internet security measure is to use unique and strong passwords for your accounts. The problem with this is that it can be difficult to keep track of which password is for what account; besides, it can be tricky to come up with a “strong” password.

This issue can be solved by a password manager. Not only does this kind of app keep your passwords, but it can also help you create more secure ones. Some apps even come with an auto-alert function so that you can change your password regularly (another good internet security practice). The best thing about a password manager? You only have to remember your master password and that’s it!

If you don’t have a password manager yet, there are many good apps that you can download for free. There are also paid ones, which usually come with more helpful features.

Enable Two-Factor Authentication

You’ve probably heard this tip a hundred times before, but it still bears repeating: if your account has two-factor authentication (2FA) is available, activate it. This will help improve security so that there’s another layer of authentication besides the username and password. In case a hacker gets a hold of your credentials, your account will remain safe since they can’t log in without the one-time password sent to your mobile number.

Fortunately, most online services nowadays have 2FA—from online banking to social media and even e-commerce sites. Just remember to keep the mobile number you’ve registered active; if you switch numbers, make sure to update your information ASAP.

Shop As a Guest

If you’re fond of online shopping, creating an account in your favorite stores can be convenient. It also lets you enjoy benefits such as promos and discounts exclusive to registered members. However, this can expose your information to would-be identity thieves in case of security breaches. These are rare enough occurrences, but they do happen.

That’s why it can be a good idea to checkout as a guest in some online stores, particularly if you shop there only once in a while. For those online shopping sites where you have an account, make sure to double up on security. It’s also best if you don’t link your credit cards for added protection.

Use Different Emails

When you sign up for online services and platforms, you’re often required to register with an email. For added security, it’s best to use different emails for different accounts. This keeps your identities separate and makes it easy for you to detect a spam or phishing message. For example, if you receive a banking-related email in your email that you use for online gaming, it’s an automatic red flag.

Of course, it can be a hassle to manage multiple email accounts. A good compromise would be to create two: one permanent and one temporary. Use the permanent address for sites that you can be sure are safe and the temporary one for those more leisurely in nature.

Don’t Save Important Passwords on Online Forms

To make things more convenient, web browsers give you the option to save passwords. This way, you don’t have to type your passwords whenever you log in. It definitely makes account management easier, especially if you have multiple accounts that you have to access daily.

The problem with this is that it can make you more susceptible to data breaches. To protect yourself, it’s best to ignore the save password function. At the very least, don’t save your banking passwords.

With some patience and extra vigilance, you can stay safe as you continue to reap the benefits of the digital age. 

I've always been a financial literacy advocate in my blog since I began in 2012. Part of what I share to my readers and followers on social media is how to budget, how to save, how to pay debts, how to earn extra, and even many ways to invest.  I'm happy that more and more Filipino moms today are being more intentional in tuning into their family's financial health.  I'm glad too that there are helpful apps such as Lista, which makes saving and reaching financial goals easier.

Lista, a financial management tool for small business owners, freelancers and individuals, has launched the Ipon Challenge, which encourages every Filipino to set savings goals through their newest features - the Savings and Sales Target.

The Ipon Challenge aims to empower Filipinos to meet their savings goals or set financial targets for the things they want to buy using their two new main features. The Savings feature allows the user to track their savings for their next dream item whether it is a phone, car, or vacation, while the Sales Target feature will allow business owners to set a target profit for their business. Users will be able to customize their target timeline and amount using the feature.

Lista intends to make financial planning and literacy more accessible to millions of Filipinos, assisting entrepreneurs in managing their digital cash flow, normalizing debt collection or "paniningil ng utang” and now, helping them manage their personal budget and expand their enterprises through savings and goal setting. 

Through the new features, each user can begin small, with a goal of as low as 500 pesos, or go big, with a car down payment. The Lista app includes features such as hosting "ipon challenges" and tracking users' progress so they can stay on track with their goals.

Lista’s Ipon Challenge

The Ipon Challenge was created to officially launch the two new features that the founders hope will help more Filipinos start building the habit of proactive saving. The campaign hopes to encourage new and existing users to explore the feature and participate in the savings challenge, which is intended to help users learn how to set and stick to financial goals, both short and long term.

Anyone with Lista mobile app can join the Ipon Challenge for the chance to win grand prizes from Lista as well as weekly minor prizes. Interested participants can download the Lista app, register using their mobile number then create a savings challenge with the help of the “savings'' icon. 

Participants are required to input savings at least twice a week, following their daily or weekly savings amount. The deadline to reach their goal is before May 30, 2022. 

Once participants reach their savings goal, they will receive a savings badge. To be eligible for the raffle, participants should share a screenshot of their savings badge on Facebook with the hashtag #IponChallenge and tag the Lista. Each savings challenge is equal to one raffle entry. Prizes include brand new motorcycle, Macbook, mobile phone, Ikea gift certificate worth Php 10,000, and a summer getaway package for two! The winners will be announced on the Facebook page of Lista PH.

Lista also partnered with SariSuki, a community selling platform that delivers fresh groceries straight to your doorstep, who will be giving away Php 10,000 worth of Kabuhayan Package. Financial services company Sun Life Philippines, tying up with e-commerce platform Lazada, will also be giving away weekly vouchers that will entitle the winners to a free one-year Life Armor Insurance coverage.

“Lista wants to encourage every Filipino to set a savings goals for the things they dream of - whether they start with a small amount or go big with a car down payment. Through the help of our partners, we look forward to seeing everyone complete their ipon challenge and help them move towards the goal of understanding their finances and empowering them to make better purchase decisions,” shared Khriz Lim, co-founder of Lista.

Lista is a free bookkeeping app for Filipino MSMEs that aims to help them digitize their cash and credit transactions and get cash flow visibility, which can help them grow their profits. Lista not only maintains track of business transactions, but it also provides a simple invoice generator, which is especially beneficial for freelancers, an easy way to collect debts with free SMS reminders, and a savings challenge to help people save for their goals.

Since its launch early last year, Lista has received 600,000 downloads and has recorded approximately USD 12.6 million in debt.

To know more about Lista, you may visit their website at www.lista.com.ph or follow their Facebook page at facebook.com/ListaPhilippines.

There is no doubt that the global pandemic has accelerated digital transformation, changing our day-to-day lives. Due to current events, the digital shift that was supposed to take years happened in a blink of an eye – putting the spotlight on businesses and how they make an effort to innovate their products and services.

For Home Credit, it did not come as a surprise since their digital efforts started years ago knowing that digitalization, especially in the financial industry, is the next big thing. Their journey started from their launching in 2013, where they already proved to be a gamechanger in the financial landscape.

Coming from a predominantly unbanked market like ours, Home Credit came into the picture and started catering to Filipinos with little to no credit history and providing affordable installments for their gadget and electronic needs. This is what we now call as “buy now, pay later” and despite the term finding its fame during the pandemic, it’s actually a relatively old concept – and Home Credit has long been considered a pioneer and leader in this industry.

What's To Love About Home Credit

• My Home Credit App - Not only has it solidified its footprint as the country’s leading consumer finance with presence in over 9000+ stores nationwide, it has also rapidly grown its mobile presence in the recent years through the My Home Credit App in Google Play Store which now has more than 9 million app users, putting their total customer count to almost 8 million.  As they celebrate their 8^th year anniversary, their growing customer-base will continue to enjoy several of its offers through physical touchpoints at partner retail stores as well as explore contactless options through the My Home Credit App providing every need in just one place – loans, pay bills, buy load, contactless payments, shopping through partner stores, exciting discounts, and so much more.

• One-Minute Approval - Home Credit’s one-minute approval for loan applications is known as the fastest in the industry. Including simple requirements, interested borrowers can apply in partner retail stores all over the country. As the pandemic pushed us to convert to contactless means, Marketplace – one of the features of My Home Credit App – was introduced as the one-stop shop to browse big-ticket items, compare deals and products, and apply for loans, all within the app. Redefining the traditional way of shopping and the buy now pay later experience of Filipino consumers, they are the first consumer finance provider to offer pre-approval in the mobile app.

• Easy Payment Options and Quarta - Beyond offering easy installments, Home Credit now offers easy payments. With the introduction of its newest payment option Qwarta, Home Credit customers will be given as much as P10,000 additional spending limit within the app to increase their purchasing power. Qwarta can be used to pay bills without additional cost, shop or buy load with discounts, or purchase via QR Code.

• Telco Loads - The Home Credit app now houses telco load from all networks, over 200 billers, and can also scan QR codes at 50,000+ partner brands and merchants nationwide, allowing customers to stretch their budget on countless shopping scenarios. And even better news, by using the app at selected stores, customers can enjoy up to 50% off through its SMILE discounts program.

Home Credit’s financial literacy campaign has also evolved through the years. For the longest time, they have made it their purpose to teach the basics of budgeting and saving to ordinary Filipinos through the ‘Juan, Two, Three‘ campaign. Staying true to this mission but having in mind the effects of the pandemic, they started leveraging on digital platforms to deliver financial literacy concepts through their official website, social media and mobile app – this time with their newest program dubbed as “DigitizEd”.

“Home Credit introduced a lot of firsts to the Philippine market, and this is a testament of how well we anticipate the needs of the consumers and continue to innovate our services and offerings to meet those demands. Having evolved over the past 8 years, we want to offer a 360° service and be your go-to partner for all your financial needs” said David Minol, Home Credit PH Chief Executive Officer (CEO).  

Celebrate with Home Credit as they turn 8 this year by keeping yourself posted on the latest announcements and special promos – one of which is the much-awaited awarding of their 8 millionth customer who will receive exciting prizes sponsored by (brand partner). For more information, visit www.homecredit.ph and follow Home Credit at www.facebook.com.homecreditph.

Secret to manifesting your dreams

What does it take to manifest a dream? Is it having lots of money? Is it a good market outlook? The secret is to just start—to just do it, now. You’ll never get to anything if you don’t begin.

Honestly, that’s easier said than done with lockdowns on repeat and the economy in a see-saw. But while you can’t predict the future, you can get ready for it. You can take the necessary precautions and establish safety nets. Didn’t someone once say that preparation is 90% of success?

Ready to “make yourself ready”

One way to get yourself ready to face challenges head on and to start manifesting your dreams is to ease your worries over the uncertainties of the future and have investments that will serve as your backup. With safety nets in place, you can focus more on the things that you want to do with your life and not just what you need to do.   

A variable unit-linked (VUL) product can be that safety net as it combines both insurance and investment, so you can have insurance protection while growing your money over time. FWD Manifest, however, takes it further by not just giving you a strong life protection and smart wealth investments, but also bonuses, for investing more and longer. Plus, it cushions your investment from risks. 

With FWD Manifest, you’ll get: 

1. Start-Up Bonus 

Receive a bonus on your policy’s first year that will be invested in its own account value and will grow with your investment and added to your account in your policy’s 5th and 10th year. 

2. Loyalty Bonus

Get a non-guaranteed cash benefit on the 10th year of your policy, recurring thereafter every five years.

3. Investment Protector Bonus

Worry less over your investment fund with bonus payouts given on the 10th year and every five years thereafter if the Philippine Stock Exchange index (PSEi) is lower compared to five years before the payout.

4. Premium Extension Bonus

The secret to investment growth is to invest regularly and continuously. Get this bonus if you continue to pay your premiums even after the 5 and 10 years payment period. With FWD Manifest, your additional investment comes with an additional bonus! 

5. Guaranteed Milestone Increase

Celebrate hitting a milestone in your life with FWD Manifest! Get a pre-approved 20% increase up to max of Php 2M in your coverage amount when you: get married, have your first child, make your first real estate purchase, retire, or just simply reach your 10th policy anniversary—no questions asked!

6. Option to Customize

FWD Manifest is customizable! You have the freedom to add protection and benefits depending on your need and budget.

Start now and manifest your future!

It may be a tough time right now but that does not mean reaching your manifest life goals is impossible. With hard work, perseverance, and determination, you can achieve anything even amid the pandemic. It just takes courage to start and the grit to stay on. After all, success does not come overnight, but over time. 

Manifest your future now. Sign up to talk to a FWD financial advisor to discover how to take that next step to achieving your dreams https://bit.ly/FWDManifest-SignUp

To know more, visit https://bit.ly/FWD_Manifest.