Smart Financial Choices for Everyday Life.

Key Takeaways

• Establishing a practical budget is foundational to ensuring your money works for your lifestyle and your goals, providing a clear map for spending and saving decisions.
• Emergency funds provide essential protection against life’s unpredictability, offering an invaluable buffer against sudden expenses or income loss.
• Automating savings and payments builds consistency, minimizes the risk of error, and reduces the stress of keeping up with due dates and obligations.
• Continued financial education leads to wiser decisions, providing long-term benefits and enabling you to stay ahead of trends and changes in the financial landscape.

Managing your personal finances effectively isn’t just about numbers; it’s about making deliberate, informed decisions that support your long-term security and bring peace of mind. Every financial move you make today can influence your future comfort and stability, whether that’s maintaining a balanced budget, meeting obligations on time, or planning for significant life events. Proactive financial management empowers you to confidently meet your immediate needs, pursue your longer-term goals, and handle unexpected events with greater poise and assurance. Whether you're seeking support for an urgent expense or laying the groundwork for a brighter future, understanding all your financial options, such as borrowing responsibly from MaxLend, can be an essential part of your broader financial strategy. Recognizing the significance of your financial behavior unlocks opportunities for growth and independence. Building a solid foundation for your finances begins with awareness and intentional action: tracking where every dollar goes, preparing for life’s uncertainties, and taking practical steps to ensure your hard-earned income works in your favor rather than against you. These habits aren’t just about cutting costs; they’re about maximizing your resources and creating a lifestyle that aligns with your values and aspirations. Embracing wise financial choices and leveraging available tools, such as apps, digital banking platforms, or financial advice services, can guide you toward lasting financial well-being and help you avoid common pitfalls. Prioritizing financial health is a journey, and each conscious choice is economic over time.

Photo credit: Kindel Media on Pexels.

Creating a Practical Budget

Effective budgeting is the first and often most crucial step in gaining control of your finances. By methodically tracking every source of income and all expenses, from basics like rent and groceries to discretionary items such as dining out or subscriptions, you gain visibility into your spending patterns. Identifying exactly where your money goes helps you spot trends and areas for potential improvement, such as unnecessary subscriptions or luxury purchases that could be scaled back without meaningful sacrifice. Numerous tools and apps designed specifically for budgeting can simplify the process; many allow you to set spending limits, categorize expenses, and receive alerts when you are close to exceeding a preset threshold. This level of clarity is vital for creating and attaining both short- and long-term financial goals, ensuring each dollar serves a purpose. Sticking with a personal budget requires honesty and realistic expectations. It’s important to remember that overspending once in a while does not mean you have failed; instead, it’s an opportunity to revisit your plan and make necessary adjustments. Life circumstances, such as a new job, increased expenses, or shifting priorities, can affect your financial trajectory, so it’s essential to review and update your budget to reflect these changes regularly. This ongoing process ensures your financial strategy remains relevant and supportive of your overall well-being.

Building an Emergency Fund

Having an emergency fund isn’t just about financial comfort; it’s about building true resilience. Life is inherently uncertain, and having a dedicated fund for unexpected costs provides peace of mind and stability. Financial experts typically recommend saving between 3 and 6 months’ worth of living expenses, covering essentials like rent or mortgage, utilities, groceries, and transportation. Even if that amount seems out of reach, starting small is powerful: setting aside even $20 to $50 from each paycheck can quickly add up. What matters most is consistency, not perfection. Regular, even modest savings slowly build a reliable safety net. Life’s uncertainties, unexpected car breakdowns, medical emergencies, sudden job loss, or urgent home repairs can quickly derail your finances without a cushion in place. When emergencies strike, having quick access to savings ensures you don’t need to rely on high-interest credit cards, payday loans, or other costly alternatives to weather a crisis. An emergency fund allows you to face life’s challenges with greater flexibility and less stress, maintaining your financial independence even in turbulent times.

Automating Savings and Payments

Automation makes day-to-day financial management easier, more reliable, and far less stressful. By scheduling recurring transfers to your savings account or setting up automatic payments for your utility bills, rent, and credit cards, you significantly lower the risk of missing a due date and incurring costly late fees. Automated transfers make your savings grow almost effortlessly, as the money moves before you have the chance to spend it impulsively. This “out of sight, out of mind” approach often leads to higher savings rates and reduces financial anxiety by ensuring your essential obligations are always covered. For those working toward long-term goals, like saving for a house, dream vacation, or retirement, automation can provide discipline and security, ultimately making your financial responsibilities much more manageable.

Investing in Financial Literacy

Knowledge is one of the most powerful tools you can leverage to build lasting financial health. By attending workshops, enrolling in online courses, and exploring reputable online resources, you can continually expand your understanding of essential topics such as investment basics, debt management, credit scoring, and setting financial priorities. As you improve your financial literacy, you’re better equipped to avoid common mistakes, evaluate complex financial products, and recognize opportunities that fit your long-term plans. Empowering yourself with information not only enables you to make better choices, but it also builds confidence as you tackle big decisions like financing a home, consolidating student loans, or diversifying your investment portfolio. For comprehensive personal finance education, explore resources from organizations such as NerdWallet, which offer practical advice and real-world tools to guide your journey.

Utilizing Technology for Financial Management

Technology has profoundly transformed the way individuals and households manage their money, creating unprecedented opportunities for more intelligent, more convenient financial management. From mobile banking apps that let you monitor your accounts on the go to automated robo-advisors providing investment management based on sophisticated algorithms, digital innovations put advanced financial tools at your fingertips. For example, robo-advisors offer tailored investment strategies and ongoing portfolio optimization tailored to your risk tolerance and unique goals, all at a lower cost than traditional financial advisors. Tech-driven financial management has democratized access to personalized planning that was once out of reach for many people. A recent CNBC article reveals how significantly robo-advisors are changing the investment landscape, empowering a new generation of investors to participate confidently in the market.

Practicing Mindful Spending

Smart spending doesn’t mean constant deprivation or extreme frugality; it’s about making informed choices that genuinely add value to your life. When considering a purchase, ask yourself whether it fulfills a real need or just a fleeting want. Look for less expensive alternatives or take advantage of discounts and cashback opportunities where possible. Mindfulness while shopping, whether online or in-store, helps you avoid impulse buys, prevent buyer’s remorse, and ensure your money is directed towards things that truly matter. Small changes such as meal planning, cooking at home, or sharing streaming services can shave significant amounts off your monthly budget. Additionally, seeking out free or low-cost experiences, like community festivals, local art shows, nature hikes, or library programs, can drastically reduce your entertainment expenses while ensuring your social life and happiness don’t take a hit.

Photo credit: Angela Roma on Pexels.

Planning for Retirement

Retirement may seem like a distant milestone, especially when you’re busy managing today’s bills and obligations, but beginning to save early makes a remarkable difference. Even modest contributions to a workplace retirement account or Individual Retirement Account (IRA) take advantage of compounding interest, giving your investments more time to grow. Prioritize taking full advantage of employer-based retirement plans, especially when employer-matching contributions are available, as this is effectively free money added to your nest egg. Periodically reviewing your retirement strategy, evaluating your portfolio’s performance, adjusting allocations to match your evolving risk tolerance, and staying informed about new savings options or policy changes ensures that your plan remains robust and aligned with your needs at every stage of life.

Conclusion

Adopting smart financial habits today lays the groundwork for a secure tomorrow, regardless of where you are on your financial journey. Through thoughtful budgeting, disciplined saving, strategic automation, and a commitment to ongoing learning, you can navigate the challenges of daily life and simultaneously create opportunities for future growth. Use modern technology and trusted educational resources to your advantage, building a toolkit that helps you make proactive, beneficial decisions. Remember: each small, intentional step you take is not just about meeting today’s needs, but about investing in your long-term financial independence, freedom, and well-being.

Pru Life UK launches PRUSteady Income.

As Filipinos continue to juggle growing financial responsibilities with personal aspirations, Pru Life UK introduces PRUSteady Income, a new 20-year endowment insurance plan designed to provide financial resilience—now and into the future.

“At Pru Life UK, we are committed to understanding what matters most to our customers. We designed PRUSteady Income as a practical financial solution that empowers our customers to confidently pursue their priorities today and prepare for life’s milestones ahead,” said Garen Dee, Chief Product Officer.

This life insurance plan offers a reliable mix of guaranteed protection and a steady income stream. From the end of the 11th year until the 20th year of the policy, policyowners are guaranteed to receive net annual cash payouts equal to 10% of the sum assured. Upon maturity at the end of the 20-year term, the full sum assured will be given as a maturity benefit. In the unfortunate event of death of the insured, the plan provides beneficiaries with up to 200% of the sum assured as death benefit.

To help manage unexpected financial needs, the policy also includes loanable cash values which is accessible as needed. For every Filipino The launch of PRUSteady Income underscores Pru Life UK’s commitment to helping Filipinos build a balanced financial portfolio—offering insurance solutions that are simple, reliable, and built for real-life needs. “Filipinos often put their families first and themselves second.

"With PRUSteady Income, we want to help them do both at the same time. It’s about giving people the confidence to care for their loved ones now, while also investing in the well-being of the person they’ve always aspired to be,” Dee said.

“Whether you are a parent preparing for a comfortable future for your children or a freelancer building a steady living today for yourself and your loved ones, PRUSteady Income is designed to meet you where you are in life and help you move forward with greater confidence,” she continued. For parents, the guaranteed annual payout offers a meaningful way to invest in their children’s future—supplementing their educational fund and nurturing a lifestyle filled with opportunity and growth.

“Beyond the 20-year coverage period, the maturity benefit can add to the policyowner’s retirement savings, offering financial security at a time when economic uncertainties make long-term planning more essential than ever,” she said.

PRUSteady Income is also well-suited for freelancers who find themselves balancing the demands of everyday life while yearning to nurture their personal growth. “The reality is saving often takes a backseat to immediate responsibilities. This product provides financial protection with guaranteed payouts, while the maturity benefit serves as a financial cushion for pursuing long-overdue personal goals,” she concluded.

To learn more about PRUSteady Income, visit www.prulifeuk.com.ph or follow Pru Life UK on Facebook. 

Loans Can Fuel Business Growth.

In today's very competitive market landscape, ease of access to funding may well be one factor that will ensure any growing business's success. Entrepreneurs need the assurance that they have easy access to financing through banks. This allows them to take advantage of opportunities in the marketplace, thereby ensuring business growth.

As one of the country's leading thrift banks that provides various business solutions to its clients, Sterling Bank of Asia (SBA) has pledged its support to help small and medium enterprises thrive in the ever-competitive marketplace.

SBA offers a wide range of business loan products that cater to the different needs of its customers, ranging from startups to established enterprises. Their offerings include term loans, trade check discounting, developmental loans, domestic bills purchase, and more.

Choosing the right bank financing product is crucial for a business's success. With the appropriate loan funding, businesses can reach their full potential. Entrepreneurs are encouraged to carefully evaluate their funding requirements and select from the wide array of banking products available to meet their specific goals.

Sterling Bank of Asia is committed to supporting businesses every step of the way. Their team is always ready and willing to assist clients in finding the perfect financial solution to achieve their business aspirations.

For those looking to grow their business, explore SBA's loan products and contact their team today to begin the journey toward success.

When is the best time to start learning about money?

According to BSP’s 2021 Financial Inclusion Survey, the number of Filipino adults with savings dropped by 25 percent from 38.6 million in 2019 to 28.9 million in 2021—decimated mainly by the pandemic.

As families recover from the pandemic, experts believe that our children—given their recent experience of how emergencies can affect finances—should learn good money habits early on from their parents.

The pandemic has seen innovation in financial technology (fintech) like e-wallets and e-commerce entering wide adoption. Saving money is much easier than it used to be, but the same modern conveniences can also lead to impulse spending and mismanagement. How many times have kids spent money with just a few taps on the screen?

With technology making money more accessible to children, the basics of financial literacy and resource management have become even more critical for their generation.

Building a financially savvy future

As part of its advocacy for financial literacy, FWD Life Insurance partnered with Junior Achievement of the Philippines (JA Philippines) to launch the JA SparktheDream program, which aims to develop primary school students’ financial literacy at an early age to help them achieve their dreams in life.

“Through JA SparktheDream, FWD Philippines seeks to build a future where more people are in control of their finances, and eventually their lives,” says Roche Vandenberghe, FWD Philippines Chief Marketing and Digital Business Officer.

The JA SparktheDream program simplifies money management topics, making these topics easier to understand, especially for kids in elementary school. It also focuses on financial inclusion, so that they are inspired to become agents of change for others as well.

During the launch, event panelist Gracie Maulion—known online as Tipid Mommy—shared her most important tip for parents teaching their kids about essential life skills.

“Programs like these are a blessing for parents like me,” said Mommy Gracie. “But it takes a village to raise a kid. You also need to set a good example to your children at home.”

“Even if we try to teach them proper money management, they won’t learn the lesson if it doesn’t match the behavior we show at home,” warns Mommy Gracie. “After all, values are more caught than taught.”

Here are some tips on setting a good example, taken from the FWD website:

• Show that you’re not buying impulsively. When children see you overspending on things you don’t need, they will have a hard time realizing that things do cost money and those costs have consequences—like lack of funds when someone falls critically ill. When you’re shopping for clothes and shoes that you don’t need or use, food that spoils in the fridge and is thrown away, they will think that it’s all right for things to go to waste. At the supermarket or mall, buy only the essentials. Teach them how to make a list before leaving the house.

• Let them experience what it takes to make money. Teenagers are always asking for money—teach them instead how to earn it and let them realize the true value of money. During their summer and semestral breaks, don’t let them just hang out with their friends all the time, but help them find a job or figure out how to become an entrepreneur. Food being the top and easier business from home to set up, perhaps they can learn to cook, bake, or design packaging. Encourage them to create content online that can be monetized.

• Involve them in your investments. Children don’t have the money to buy real estate, but by the time they’re teenagers they might have enough to participate in the family’s investments. Create a fund where they contribute a percentage—an equal one coming from each child’s savings account—with the parents matching or doubling their contributions. Use this fund to invest, and let them see their money growing firsthand

These tips and more are just a part of the practical life lessons on money taught in JA SparkTheDream—one of the many financial literacy and inclusion advocacies from FWD Life Insurance. To learn more about JA SparktheDream and other programs, visit the website and follow FWD Philippines on Facebook and Instagram.

Make It Count with Money Games at MortgageCalculator.org

Remember my nephew Morgan who loves music, Math, and Super Mario? Well, he's now five years old and is officially enrolled in preschool. He's been attending in-person classes  since the start of the year (one hour session, three times a week), and so far, he finds school fun and interesting. He's also made a lot of new friends, being the congenial little boy that he is.

Currently, he's on a week-long "health break" (sort of a semestral break, only shorter), like most preschool and grade school kids here in the Philippines. No homework or modules for now, but he's making productive use of his time by playing board games, singing karaoke, and swimming at the pool. When he's given screen time, he either plays Super Mario on his Nintendo Switch or goes through all the different video games at the Mortgage Calculator website.

My bubbly five-year old nephew, Morgan.

I chanced upon the Mortgage Calculator website while doing some research on real estate and home loans. As the name implies, the website has online calculators that can help you compute monthly home loan payments using different loan terms, loan amounts, and interest rates. They also have savings calculators, refinance calculators, and even home affordability calculators which can give you an estimate of how much you can afford to borrow for your new home. All these came in very handy for my research, but it was the money games that made me stay longer on this website - long enough for Morgan to see what I was doing on my computer and try the games for himself. 

Here are some of Morgan's favorite games on Mortgage Calculator.

Cash Back.

Select the number of bills and coins and give the change.

Cash Back is a basic arithmetic game where players use bills and coins to give the customers their correct change. It's a fun way to introduce money to kids, and teach them how to calculate using the different denominations. 

Supermarket Numbers.

Click the appropriate blocks to get the number on the upper left.

Another arithmetic game is Supermarket Numbers. The game starts with addition blocks, where you have to select two numbers to add up to the numerical goal shown on the top left. As the game advances, more blocks are added with functions like subtraction, multiplication, and division. 

Tap Supermarket.

Click on the customers at the counter and the empty shelves that need to be refilled.

On the other hand, Tap Supermarket is a grocery store simulation game where you oversee the store operations from manning the till, refilling the shelves, and managing the stocks. You earn money by checking out the customers in the payment counter, which you can then use to purchase new display racks and expand your store inventory. As the game progresses and you gain more experience, you can unlock the second checkout counter and a third grocery stocker.

Pizza Cafe.

Serve the customers immediately before the hearts run out.

Another simulation game is Pizza Cafe where you need to serve customers with the pizza that they ordered. There are different pizza variants which require different ingredients, and you need to assemble, cook, and send them to the conveyor belt until it reaches the customer. There is a time limit, so you need to make the pizza as quickly as possible before the customer walks out. You can also use the phone at the bottom right to order ingredients once they've ran out.

Hidden Food.

Click on the object as soon as you spot them.

Finally, there's Hidden Food, a simple search game where you have to find food items or kitchen appliances hidden among a cornucopia of fruits, vegetables, and other things related to food and cooking. The game starts easy, but as you advance to the different levels, it gets a tad more difficult as you need to find more items while the board becomes more densely packed. Surprisingly, Morgan managed to get to Level 10 with a bit of help from me. 

Enjoying some screen time on the iPad.

There are dozens upon dozens of fun games at the Mortgage Calculator website, and every single one of them is free to play. No sign-ups needed, no downloads required. Everything is browser-based so all you need to do is simply go to the website and click on the game that you would like to play. The site is ad-free, so you don't have to worry about annoying pop-ups or irrelevant ads showing up on screen. 

Yue will be having his "health break" next week, and from the looks of it, he'll be spending most of his break playing these money games as well. 

World Savings Day | More Pinoys recognize the value of saving money.

More than two years after the spread of the COVID-19 pandemic, Filipinos raring for a restart actually improved their mindset towards saving money, according to a recent survey by the Bangko Sentral ng Pilipinas (BSP).

This is a welcome development, considering that 34% of the population lost their source of income during pandemic years, based on a survey conducted by the United Nations Development Programme. As a result, many have relied entirely in their savings account in order to survive the last two years.

According to the BSP’s Consumer Expectations Survey for the first quarter of 2022, the percentage of household with savings increased marginally at 31.1 percent from 30.2 percent in Q4 of 2021.Majority of the respondents cited the need for emergencies, health and medical expenses, retirement, education, and business capital and investment as reasons to save their money.

A big help in this increase in mindset and enthusiasm is the availability of more options to save money, aside from traditional banking institutions.

Cebuana Lhuillier makes life easier and dreams come true with Micro Savings

One of the most innovative means to save is through Cebuana Lhuillier Micro Savings. Launched in 2019 by Cebuana Lhuillier and its banking arm Cebuana Lhuillier Bank, this product has been in the forefront of bringing easy, accessible, reliable banking to majority of Filipinos, with close to seven million micro savings account holders today.

“Cebuana Lhuillier Micro Savings empowered millions of Filipinos to embark on their very own financial journeys by giving them a reliable, accessible, and efficient way to save their money, which they can easily withdraw during times of need. The quick adaptation of our kababayans to micro savings proved that the healthy mindset towards saving has always been there, as long as they are equipped with the right tools,” says Jean Henri Lhuillier, president and CEO of Cebuana Lhuillier.

Cebuana Lhuillier Micro Savings—which allows customers to open an account in any of over 3,000 Cebuna Lhuillier branches nationwide for as low as only P50—was introduced as a means to address the barriers to saving, including lack of accessibility, high maintaining balance, and the need for numerous documentary requirements to open an account.

With businesses and the rest of the country slowly getting back to normal, Cebuana Lhuillier Micro Savings remained a go-to product for many of our kababayans ready to resume their lives and dreams following two years of uncertainty.

James Tan, 18 years old, a working student from Laguna,
who easily managed to save with Micro Savings to buy his own bike

For James Tan, an 18-year-old working student from Sta. Rosa, Laguna, saving meant enjoying the added mobility, safety, and convenience of having his own bike, a useful tool for his daily commute between work and school.

“Gusto ko kasi magka-bike kasi sapamasahe pa lang, malaki na matitipid ko papunta sa school at sa trabaho. So, yung paunti-unti kong pag-iipon sa Cebuana, ginamit ko yun para mabili yung pangarap kong bike. Hindi na ako nata-trapik o nale-late sa trabaho ngayon,” he shares.

(“I want to own a bike because I can save so much on fares commuting to school and work. So that’s why I saved with Cebuana enough to buy my own bike. Now I don’t get stuck in traffic and come to work late.”)

As a working student helping to support his family, James decided to continue his savings after buying the bike to also help augment the expenses from home.

Royce Jason Velez, a 36-year old construction worker
who saves using Cebuana Lhuillier Micro Savings account
to provide a better future for his family

The need to provide a better future for their family is also why Royce Jayson Velez, a 36-year-old construction worker, decided to open a Micro Savings account. Earning an average of P400 per day, Royce and his wife needed to be creative in order to stretch his salary to last until the next payday. His micro savings carried the family during difficult times, and are now being allocated for the schooling of his children.

“Sabi ko sa sarili ko, ipagpapatuloy ko ang ipon ko para magamit ng mga anak ko sa pag-aaral at balang araw, magkaroon sila ng magandang trabaho,”Velez shares.

(“I said to myself that I would continue saving so that I can send my children to school for them have good jobs in the future.”)

A former kasambahay, Carie Labro, 38-years old,
was able to put up her own sari-sari store
using Cebuana Lhuillier Micro Savings

For Carie Labro, a 38-year-old former housekeeper, her micro savings paved the way for her micro entrepreneurship. When her kids started asking for more time to spend with her, Carie decided to take a leap of faith and resign from her post as a housekeeper so she could be more present for her growing kids.

With the PHP10,000 she initially saved in her Micro Savings account, Labro opened a small store which she now maintains as her main source of income. Like Velez, she has vigilantly kept up with her micro savings. She now saves part of her earnings in her account as an emergency fund for her and her kids.

Taking advantage of the renewed interest in saving, Cebuana Lhuillier Bank continues to push for accessibility and convenience for their breakthrough product. The two-time Asian Banking & Finance Award winner for Rural Bank of the Year has adapted an innovative approach by adapting more tech features for micro savings.

“The success of Cebuana Lhuillier Micro Savings encouraged us to further push the envelope in bringing convenience, accessibility, reliability, and efficient banking to our clients. The change in how people access financial services nowadays served as our push towards digitalization,” said Cebuana Lhuillier Bank President Dennis Valdes.

Aside from Cebuana Lhuillier branches, micro savings accountholders can also withdraw cash anytime, anywhere in over 21,000+ BancNet ATMs nationwide, purchase online thru UnionPay merchants worldwide, enjoy 24/7 unlimited banking access with the eCebuana app, and make cashless payments in over 350,000 UnionPay and BancNet accredited stores nationwide.

7 Tips on How to Use a Credit Card Wisely.

Credit cards can be scary for some people. I have friends who have refused credit card offers not because they don't like the credit card per se, but because they're afraid of the debts they may incur, the high interest rates, and the time it will take for them to pay off their balance. 

As someone who has been using credit cards for almost two decades (I got my very first primary credit card when I was 22), I'd usually tell my friends and peers to not be afraid of credit cards and instead think of these microchip-embedded plastic rectangles as their ally, their weapon, and their best friend. That's how I usually think of my credit cards, and over the years I've reaped countless of benefits from being a credit card user - from discounts to cash rebates, to gift certificates, mileage rewards, and restaurant treats... but  the biggest benefit of all would have to be my multiple entry visa to South Korea. 

Of course, these benefits come with responsibilities because just as the saying goes, "With great power comes great responsibilities". And with that, here are some tips on how you can maximize your credit card without getting into debt:

Photo credit: Money Digest

Set a budget

Overspending with your credit card is an easy trap to fall into. We've seen this scenario many times over in movies and TV dramas - girl walks into a store and plans to buy just one item, leaves the store with several paper bags in tow and a maxed out credit card.

However, this can be avoided if you set a budget on how much (or how little) you can spend using your credit card. Having a realistic idea of the amount you can spend AND pay off will keep you from swiping nonchalantly and buying things that you don't actually need. 

Monitor your purchases

Once you've calculated the amount that you can afford, the next step is to keep track of your purchases. Make sure not to spend beyond the limit that you've set, and avoid using your credit card until you have paid off your balance. Not only will this kind of mindset keep you out of debt, it can also help you in building a good credit score.

Photo credit: Tara Winstead on Pexels.

Take note of your savings

When using your credit card, you must also be cognizant of your savings and bank account balances. Personally, I wouldn't want to make charges with my credit card if the cash that I have on hand or the funds that I have in my bank account won't be able to cover it when it's time to pay my bill. 

That being said, I make sure to check my bank account balance on a regular basis and set savings goals with the help of this Savings Calculator. Doing so helps me map out my finances better, allows me to make better financial decisions, and prevents me from spending beyond my means.

Be wary of the fees

Aside from the interest rates and the annual fee (which can actually be waived based on certain conditions), you should be aware of other credit card fees and how you can avoid them. For instance, you can avoid late fees if you pay ahead of time. Don't make cash advances to avoid cash advance fees. Most importantly, don't spend beyond your credit limit to avoid over-the-limit fees. 

Reap the rewards

Different credit cards have different benefits. Some credit cards offer cashbacks or rebates with dining transactions, while some have travel rewards. Other cards offer discounts at hotels, waived checked baggage fees, and even insurance for your high-end gadgets. Take note of the benefits that your credit cards have to offer and keep these in mind as you spend using your credit cards. 

Yue with his Nintendo Switch OLED, which I paid for with my credit card. 

Opt for installment

Credit cards can come in handy if you're planning to buy high-ticket items such as electronics and household appliances. Purchasing via a zero interest installment plan allows you to spread your payments, stretch your money, and manage your cash flow better.

Pay in full and on time

This is the golden rule when it comes to credit cards. While credit cards come with rewards and benefits, they also come with interest rates if you don't pay on time. 

Paying only the minimum amount incurs interest to your balance in each month until you have paid in full, and this could be more costly in the long run. To avoid late payment fees, interest charges, and those annoying reminder calls, make sure to pay the full amount on or before your due date.

There's nothing to be afraid of if you know how to use your credit card wisely. With proper understanding on how your credit card works, you'll gain convenience, a smooth cash flow, a solid credit score, and even save money in the long run. 

Pru Life UK and Prudence Foundation introduce new financial literacy online game and health awareness program for kids.

Leading life insurer Pru Life UK and Prudence Foundation, the community investment arm of Prudential Plc, have launched their newest financial literacy and health and safety awareness initiatives, Cha-Ching Money Adventures game and SAFE STEPS Kids Stress Busters with interactive on-ground activities for children in Alabang Town Center.

From July 10 until August 7, parents can bring their kids aged 7 to 12 to try out the newly launched web-based learning game, Cha-Ching Money Adventures, to experience fun learning about key money management concepts. They can also acquire important life-saving health and safety skills from the SAFE STEPS Kids Stress Busters interactive tasks, videos, and educational materials, which focus on first aid, disaster and road safety, and mental health.

“The Cha-Ching Money Adventures Game and SAFE STEPS Kids Stress Busters bring enjoyment and encourage participation. We aim to educate and protect as many Filipinos as we can and help them get the most out of life. Raising a generation of financially literate and health-conscious kids will help us achieve this goal in the long run. This is our We DO Commitment,” said Pru Life UK President and Chief Executive Officer Eng Teng Wong.

“Cha-Ching and SAFE STEPS Kids are two core programmes of Prudence Foundation that aim to bring safety and protection to communities across Asia and Africa, through sustainable, long-term initiatives focused on education, health and safety. Given the unprecedented changes brought by the global pandemic in the rise of e-learning as well as the challenges and stress faced by many families across the world, we hope to make a positive contribution to the lives of children and their families with the launch of Cha-Ching Money Adventures and SAFE STEPS Kids Stress Busters,” said Nicole Ngeow Director, Prudence Foundation.

Filipino kids get a chance to try the Cha-Ching Money Adventures game with the installed mobile devices in the playzone and are guided by booth facilitators for a better playing experience. This activity helps improve their money decision-making skills with the fundamental concepts of Earn, Save, Spend and Donate within a compelling narrative adventure. Along with the Cha-Ching band characters, they are able to better engage with the money activities in the booth.

SAFE STEPS Kids Stress Busters encourages kids to take part in its six Stress Busters setups on how to take care of their health, and features a mental health video clip. This also teaches kids essential life skills, such as first aid, disaster, and road safety.

Cha-Ching and SAFE STEPS are Prudence Foundation’s notable award-winning initiatives. Cha-Ching provides kids with the knowledge and tools to make informed financial decisions. Cha-Ching Money Adventures is the latest addition to the Cha-Ching ecosystem that was created in 2011, in cooperation with Cartoon Network, the leading children’s television channel in Asia Pacific. SAFE STEPS Kids, on the other hand, is a multi-platform educational and awareness building programme on life saving techniques for natural disasters, road safety and first aid. The programme partners with Cartoon Network and International Federation of Red Cross and Red Crescent Societies (IFRC).

The Cha-Ching Money Adventures online game will be made available on the official Cha-Ching website, www.cha-ching.com, and SAFE STEPS Kids Stress Busters mental health video can be viewed on the SAFE STEPS Kids website at www.safestepskids.com. To know more about Pru Life UK and Prudence Foundation, please visit www.prulifeuk.com.ph.

Things You Can Spend Your (Forgotten) Unclaimed Insurance Benefits On.

What if you suddenly found yourself on the receiving end of a windfall? What if years ago, a relative died and no one knew about the insurance policy that was left behind for you?

When people think about life insurance, top of mind would be the most important things: provide money for loved ones upon death, defray costs in the event of a medical emergency or illness. While those are all true and covers the most important uses of life insurance, what if those were already covered and now you are the unexpected recipient of a large amount of money. Beyond the basics, this insurance claim can give you financial wiggle room for your needs and wants.

Here are five other ways you can spend your insurance claims:

1. Use it to pay estate tax

Unexpected death usually leaves behind a lot of financial loose ends, and among those, estate taxes can be the biggest expense that you need to deal with. Fortunately, a windfall can provide you with the resources you need to settle those taxes, so you can gain access to any assets left behind.

2. Invest in real estate

This is your opportunity to create passive income for yourself and your family. Buy that land, house or condo and rent it out. With a carefully thought-out real estate purchase, it can generate multiple returns on your investment.

3. Buy collectibles

Did you know certain toys, watches, luxury bags, or even sneakers can sometimes sell for millions? Collectible investment involves buying something which (hopefully) will exponentially increase in value and be worth much more than its original sale price in the future. The item could be very popular with pricing depending on the condition, rarity, and uniqueness of the item.

4. Invest on yourself

Take that master’s degree you’ve always wanted or enroll in a certificate course that has always been at the back of your mind. Learn new skills, take up a new hobby. Whatever skill you decide to learn, investing in yourself can only result in gains for you. Whether it’s for your personal use (like taking an MBA) or something you can earn from (like baking), new knowledge will always come in handy.

5. Take out another insurance policy

Strengthen your financial resilience. The great thing about life insurance is it provides a practical safety net during times of uncertainty and with the insurance claims, you can use it to reinvest in a new insurance policy that will yield another set of benefits later on.

You can choose from a variety of products depending on your need – whether it’s for protection from life’s many risks or something which will help you grow your money long term such as investing it in bonds, you can never go wrong with an insurance policy.

Find out if you have benefits to claim

Do you think you have benefits to claim? AIA Philippines (formerly AIA Philam Life) recently announced its search for thousands of policyholders who have unclaimed benefits which range from policy maturities, reinstatements, claims, redemptions, and even refunds. Despite fervent efforts to contact its customers through registered mail, email, callouts, and their agents, there are still a huge number who have yet to be reached.

“We hope to reach customers–those who we have lost touch with amid changes in communications technology and who have bought their policies under our former brand, Philam Life,” shared AIA Philippines Chief Operating Officer Geegee Lopez. “We are doing this because we have a promise that goes beyond passively responding when our customers make a claim. The promise of helping our customers live healthier, longer, better lives includes and making sure these hard-earned benefits get to the intended recipients. We’re asking for everyone’s help in finding our customers or their beneficiaries so we can give them their benefits.”

You can quickly check if you have unclaimed benefits via https://bit.ly/AIAPH_CheckYourMoney. Simply input the policy owner or beneficiary details and wait for a notification of policy verification.

Click here to check if you have unclaimed benefits with AIA Philippines. You may also email customerservice.ph@aia.com or call (02) 8528-2000 to know more.

Over 2,400 Teachers Certified to Provide Financial Education Lessons in Primary Schools

Pru Life UK, together with its community investment arm in Asia and Africa, Prudence Foundation, and Junior Achievement (JA) Philippines, have certified over 2,400 teachers to teach financial education under the 2022 Cha-Ching Curriculum Financial Accreditation (CCFA) program for the school year 2021-2022. 

Cha-Ching was introduced back in 2011 as an online, interactive platform to promote and teach children about the four money-smart concepts - Earn, Save, Spend and Donate. In 2016, Pru Life UK partnered with JA Philippines to have the Cha-Ching Curriculum, using the already successful Cha-Ching Money Smart Kids materials, integrated in the Edukasyon sa Pagpapakatao (Values Formation) subject of Grade 4 students, in coordination with the Department of Education (DepEd).

The objective is to provide an organized approach and structured lesson plans for teachers to ensure good learning outcomes for the students. It is also meant to adopt timely and proactive measures to intensify the integration of financial literacy in the K to 12 basic education system curriculum in the country.

In order to supplement the financial education curriculum implementation, the CCFA, an online assessment tool, was created. This tool is to accredit and recognize the hardworking teachers for their mastery in teaching the money-smart lessons of the Cha-Ching Curriculum.

“The idea of earning money, having to save, having to have a budget, having expenses, and understanding what are expenses versus savings - these are issues that affect all of us. By the age of seven (7), basic concepts related to financial behavior will have already been formulated or developed,” said Marc Fancy, Executive Director of Prudence Foundation.

“Our goal is to reach even more Filipino students and teachers in this continuing commitment for financial education and inclusion. It is our fervent hope that the Financial Education Policy will usher greater momentum for Cha-Ching to bring smiles to more Filipino children and their families, and help them get the most out of life,” shared Atty. Emeren Vallente, SVP and Chief Legal and Government Relations Officer of Pru Life UK, in her opening remarks during the virtual recognition program.

“We at JA are in the business of empowering young people and what better way to do this than recognizing outstanding teachers and outstanding teaching. The CCFA program has been developed to inspire excellence and to recognize these special educators that have made such a strong positive impact on financial literacy,” said Maziar Sabet, President and CEO of JA Asia Pacific.

As the highlight of the celebration, various top and special awards were handed over to Cha-Ching teachers and institutions who have shown exemplary commitment, dedication and brilliance in teaching Filipino youth the value of financial literacy. About 40 CCFA exam topnotchers from the Philippines were chosen to attend the first ever regionwide Cha-Ching Financial Literacy Conference, sponsored by the Prudence Foundation in partnership with JA Asia Pacific, held on February 18-19, 2022.

Going forward, Cha-Ching will continue in its drive to foster financially literate youth, alongside teachers and partners in the education sector, through ceaseless improvements and innovations, toward expanding its reach beyond the current 170,000 student beneficiaries this year.

Between the years 2016 to 2021, Cha-Ching was able to connect with close to 500,000 Filipino students. Additionally, just in 2021, Cha-Ching was able to garner 6,747 educators to teach the Cha-Ching Curriculum in participating schools in the Philippines, bringing the cumulative number to 11,910 teachers from 2016 to 2021.

For more information about Cha-Ching, please contact coordinator2@japionline.org or visit https://chaching.cartoonnetworkasia.com/en/

Visa and Tanghalang Pilipino Bring “Lukot-Lukot Bilog-Bilog” Web Series to Tele-Radio.

Visa, the world leader in digital payments and its partner, Tanghalang Pilipino, the multi-awarded resident theater company of the Cultural Center of the Philippines, is bringing their financial literacy web series “Lukot-Lukot, Bilog-Bilog Pa More” to tele-radio this January.

Following a successful online launch, Tanghalang Pilipino in agreement with the Manila Broadcasting Company (MBC), will see the web series featured in “TARA, PEEPS!” a multimedia children’s program and broadcasted in DZRH Radio and cable channels nationwide. The show teaches Filipinos the importance of becoming better in managing their finances. It made its tele-radio debut on January 2, 2022 and will be aired every Sunday in January at 3:30PM.

“We are excited to explore new ways to reach more Filipinos, especially the youth, and help them become financially literate. This partnership between Tanghalang Pilipino and MBC to broadcast Lukot-Lukot, Bilog-Bilog Pa More on tele-radio is a welcome addition to our growing channels in promoting financial literacy through online and social media,” said Dan Wolbert, Visa Country Manager for the Philippines and Guam.

The five-episode online adaptation of the interactive musical launched in 2017 is written by Eljay Castro Deldoc and directed by Avic Ilagan. It features teenager Gwyneth and her journey to learn the values of proper financial management with the help of her family and friends, and some Filipino heroes brought to life. An interactive session after each episode’s airing with financial experts Salve Duplito and Rose Fres Fausto is also available, to share insights and easy-to-apply tips in various topics such as the value of saving, basics of credit, earning additional income, and scam awareness and prevention.

“We are one with Visa’s goal of a financially literate Filipino generation through the power of performance art. This agreement with MBC is one of our ways to contribute to this advocacy. With the power of theater matched with MBC’s nationwide coverage complementing our online presence, we will be able to reach more of our countrymen in the provinces and be an instrument to help them become wiser with their money,” shares Carmela Millado-Manuel, Tanghalang Pilipino Company Manager.

From its premiere back in 2017, Lukot-Lukot, Bilog-Bilog has reached over 50,000 students and educators all over the Philippines. At the height of the pandemic in 2020, it was made available to a wider audience through Tanghalang Pilipino’s Facebook and YouTube channels.

For more information about Visa and Lukot-Lukot, Bilog-Bilog Pa More, visit www.visa.com.ph.

Pru Life UK teaches money lessons during pandemic.

During this emotionally and financially exhausting time, financially preparing for anything that may happen is of utmost importance. As we continue to live through the pandemic, everyone should learn the value of saving and investing to cover future uncertainties.

While it is better for Filipinos to have certain layers of protection not only for themselves but for their families as well, having the knowledge about what they are availing or investing is equally important.

Products that offer protection and investment rolled into one are a great start among Filipinos wanting to have security amid these challenging times. Among the many reasons why these products are sought after even by the ordinary Juans is the security and growth it provides financially.

Photo credit: Pixabay.

For people who want to invest but are concerned about having to deal with certain critical illnesses, products such as the PRUHealth Prime is perfect for them. It eases the financial burden of battling cancer with a 50% cash out upon diagnosis of pre-defined early stage cancer while giving its subscribers the ability to build a bigger health fund with its investment component.

The PRULink Elite Protector is also among the products that offer maximum life protection with payment terms that are flexible to suit your needs while letting wealth grow faster with a greater portion of premiums invested in chosen funds. On the other hand, the PRULink Assurance Account Plus is a great fit for people who want a bigger and more comprehensive protection package at a lesser cost, while allowing continuous payment with a portion of your premium investable in your chosen fund.

Filipinos who want life protection coverage and start investing at any time and can afford to pay once may want to avail the PRULink Investor Account Plus and PRUMillionaire.

Apart from having life protection and investment for ourselves and our loved ones, below are also some money lessons that we can learn during the pandemic:

Photo credit: Karolina Grabowska.

Track Your Expenses and Save

Budgeting is important. Start looking at your income and expenses. There are mobile apps that track spending and manage accounts, making this step much easier. While most people are staying at home because of lockdown and other restrictions, it is the best time to find small ways to save, such as canceling unnecessary subscriptions, refraining from buying fancy or unnecessary things, and making bigger shifts, such as moving in with family members to save money on rent and shared utilities.

Take Advantage of all the Financial Relief Programs

If you’re able to receive financial aid from the government or other institutions during the pandemic, it’s smart to take that opportunity. Use that money to spend on the most important things you need daily, like food. You can also set a portion of it for your electricity and housing rental because there are businesses who are giving their consumers payment extensions.

Photo credit: Anna Nekrashevich.

The Best Time to Invest is Now

Many surveys and studies show that the earlier you invest, the better. A little amount of money invested now will put more money in your pocket in the future. If you can stay disciplined, you will reach your goals. You can maximize this in the long run just by starting now and staying on track. If you need assistance, consider hiring a financial advisor and do research on which company you may invest in.

The pandemic has been a wake-up call for many people to be concerned not just about their financial security but also their health protection. Getting life protection and investment in one, can be one of the smartest things that a person can do during this time. Having health, life protection, and money growth means you can prepare for most of the hospital expenses and for anything that may happen in the future such as illness, retirement, or even death, while still growing your wealth as you achieve your life goals.

To learn more about Pru Life UK’s Insuravest products visit www.prulifeuk.com.ph.