Paano maging "wais" sa paggastos ng 'yong 13th Month Pay

MANILA, Philippines — MALIBAN sa selebrasyon ng Pasko at Bagong Taon, isa sa pinaka-masayang araw sa buwan ng Disyembre ay ang pagtanggap ng 13th month pay. Isa ito sa mga pinaka-hihintay ng mga empleyadong nagtatrabaho sa gobyerno man o sa pribadong institution.

Alam nating lahat na hindi dapat ginagastos sa mga walang kwentang bagay ang 13th Month Pay dahil minsan lamang ito dumarating sa buhay ng isang empleyado.

Kaya bago mo ito ibili ng mamahaling sapatos o bagong cellphone, narito ang ilan sa mga importante at makabuluhang bagay na maaari mong ikonsidera na paggastusan ng iyong 13th month pay.

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1. Pambayad utang

Hindi maikakaila na nakakasira ng mood ang mga naniningil ng utang lalo na kung walang pambayad. Huwag mong hintayin na sirain din nito ang masayang selebrasyon mo ng Pasko at Bagong Taon. Isa sa pinaka-magandang pagsisimula din ng Bagong Taon ang kawalan ng utang.

Kung may pinagkaka-utangan, gawing prioridad ang pagbabayad ng utang sa pamamagitan ng 13th month pay mong matatanggap at simulan ang bagong taon na walang utang.

Kung may mga hindi nabayarang credit card bills, bayaran muna ito bago gumastos sa ibang bagay. Maaari ding gamitin ang 13th month pay bilang advance payment sa binabayarang sasakyan o bahay.

Gawin ito sa pamamagitan ng paglista sa mga utang at kung alin sa mga ito ang dapat unang bayaran. Unahing bayaran ang pinaka-malaki at may pinaka-maas na interes na utang at isunod ang mga maliliit at hindi naman kailangang bayaran agad.

Hindi maikakaila na napakaganda sa pakiramdam na hindi tayo nai-istress ukol sa pera lalo na sa mga utang na may malaking interes, maliban pa sa mga naniningil.

Ang peace of mind ay isa sa piaka-magandang regalo na maaari mong ibigay sa iyong sarili ngayong holiday season.

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2. Investment

Kung wala ka namang utang na dapat bayaran at nag-iisip ng makabuluhang bagay para sa iyong 13th month pay, maaari mong i-konsidera ang pag-invest.

Magandang source ng passive income ang investment gaya ng stocks at mutual funds sa kondisyon na popondohan mo ito ng regular. 

Sa investment, maraming maaaring pagpilian:

• Mutual funds at UITFs – Maaaring magsimula sa mutual funds o Unit Investment Trust Fund, lalo na kung baguhan ka sa aspetong ito. Maaaring magsimula sa halagang P1,000 para minimal lamang ang risk ng iyong investment.
  
  
• Stock investments — Kung gusto mo namang mas challenging, maaaring mong subukan ang stocks. Itinuturing itong high-risk, high-reward type na investment, kaya dapat may alam ka sa stock market bago mo ito pasukin.
  
  
• Pag-IBIG/SSS investments — Maaari ka ring mag-invest sa mga government-regulated funds upang masigurong tutubo ang pera mo. Sa halagang P500, maaari kanang makapag-simula ng investment dito.
  
  
• Real estate investments — Bakit hindi mo gamitin ang iyong 13th month pay sa pag-invest para sa dream home mo? Maaaring kulang ang iyong Christmas bonus para bumili ng bahay o lupa, pero maaari mong gamitin ito bilang pambayad ng downpayment sa isang home lot o rent-to-own condominium. Kahit wala kang plano sa ngayon na tumira sa mga ito, maaari mo naman itong paupahan sa mga tenants o business owners kung saan maaari kapang kumita mula sa renta.

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3. Magbukas ng savings account at emergency fund

Isa sa pinaka-importanteng bagay na dapat mayroon ang isang tao ay ang savings at emergency fund upang may magamit sa panahon ng pangangailangan.

Kung wala ka pang naitatabi, maaaring gamitin mo ang iyong 13th month pay upang magbukas ng savings account at emergency fund sa banko.

Alam natin na hindi madali ang pagkakaroon ng emergency fund dahil sa iba't-ibang financial obligation na mayroon tayo. Ngunit importanteng mayroon tayong savings o emergency fund bilang "safety net" o madudukot sa mga panahon ng labis na pangangailangan. 

Ang "rule of thumb" sa pag-iipon ng emergency fund ay hindi dapat bababa ang halaga nito sa kabuuan halaga ng iyong tatlong buwanang sahod.

Kung sumasahod ka ng P25,000 kada buwan, dapat nasa P75,000 ang emergency fund mo. Maaari kang mag-simula sa mababang halaga hanggang sa makamit mo ang iyong target at palaguin.

4. Planuhin na ang pag-retiro

Sa edad na 25-anyos, maaaring masabi mo sa sarili na napaka-aga pa upang pagplanuhan ang pag-retiro, ngunit hindi mo rin dapat hintayin na magiging 50-anyos ka bago mo ito pag-isipan. Itinuturing bilang "most rewarding gifts" para sa sarili ang maagang pagplano ng pag-retiro. Hindi lamang ito para sa sarili mo ngunit maging sa iyong pamilya.

Ayon sa isang pag-aaral, karamihan sa mga Filipinos ay hindi naghahanda para sa kanilang retirement.

Ayon sa pag-aaral ng Global Aging Institute and Pru Life UK noong 2015, siyam sa 10 Filipino workers na nagreretiro ay nahihirapan sa buhay dahil sa ubos na savings, pagkakasakit at kawalan ng mag-aalaga o nagiging pabigat na sa mga anak. 

Ngunit maaari mo itong maiwasan kung maaga pa lamang ay napaghahandaan mo na ang iyong pag-retiro sa pamamagitan ng paggamit ng iyong 13th month pay bilang paunang ipon para sa iyong retirement fund at gawing habit ang paglalagay nito ng ilang porsyento mula sa iyong buwanang kita.

5. Kumuha ng insurance

Isa sa pinaka-importanteng investment ang insurance na binabalewala ng maraming Filipino dahil hindi naman ito agad kailangan. Ngunit hindi natin alam kung kailan tatama ang mga hindi inaasahang pangyayari sa buhay natin. 

Pasalamat tayo sa 13th month pay na maaring gamitin sa pag-apply sa iba't-ibang uri ng insurance.

• Life insurance — Maaari mong ipa-insure ang sarili mo o ang mga mahal mo sa buhay. Kayunin nito na may magamit na pera ang mga maiiwang mahal sa buhay o mga anak sakaling ikaw ay sumakabilang-buhay. Maituturing na nakakasakit ang ganitong uri ng insurance ngunit importante ito para sa mga mahal mo sa buhay lalo na kung ikaw ang kumakayod o bread winner ng pamilya.
  
  
• Car insurance — Kung may sasakyan, kailangan din nito ng insurance upang may sasagot sa mga gastusin sakaling maaksidente.
  
  
• Home insurance — Magbibigay naman ito ng financial protection laban sa pagkasira ng iyong bahay dahil sa natural disasters o human error.
  
  
• Health insurance — Kahit may Philhealth na, maaari ka pa ring mag-apply ng health insurance upang masagot nito ang mga bayarin na hindi na sakop ng Philhealth.

6. Magsimula ng negosyo

Maaari mong gamitin ang iyong 13th month pay sa pagsisimula ng sariling maliit na negosyo. Posibleng may naisip kanang negosyo noon ngunit wala kang kapital. Dahil may 13th month pay kana, panahon na upang maisakaturaoan mo ito.

Maraming mga negosyo na nangangailangan ng maliit na kapital kagaya na lamang ng mga sumusunod:

Piso Wi-Fi vending machine – Mas mura ito kung ikukumpara sa computer shop at mas madali din na i-manage. Kailangan lamang mag-invest sa magandang internet connection para makapag-simula.

Cake and pastry business — Kung may skills at talent ka sa paggawa ng mga cakes at pastries, maaaring simulan mo ito sa pamamagitan ng iyong 13th month pay lalo na kung may mga gamit kanang nabili.

Bills payment business — Ito ang isa sa mga pinaka-gusto ng mga Filipinos dahil, sino ba naman ang may gusto sa mahabang pila? Maaari kang magsimula ng sariling payment centers sa halagang P5,000 sa pamamagitan ng pag-invest sa point-of-sale device.

7. Gastusin ang 13th month pay!

Napakasarap gumastos ng pera, ngunit isiping mabuti kung mahalaga ba o kailangan ba talaga ang isang bagay na bibilhin para hindi ito pagsisisihan sa huli.

Maaari mong gastusin ang iyong 13th month pay sa pagpapaganda sa iyong bahay, para sa bakasyon ng buong pamilya o sa pagbili ng gamit na matagal mo nang inaasam-asam.

Perang pinag-hirapan ang 13th month pay kaya bago mo ito gamitin, pag-isipang mabuti ang mga desisyon at iwasan ang padalos-dalos na desisyon sa paggastos.

©2020 THOUGHTSKOTO

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Best New Investments For Filipino's

The privilege of working abroad will not be there forever. We, the overseas Filipino workers (OFW), were just given limited opportunities to earn a bigger salary compared to what we could be making in our own country in exchange for our sacrifices. Soon we will be going for good and we need to plan ahead.

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Based on the Bangko Sentral ng Pilipinas’ 2nd Quarter (2019) Consumer Expectation Survey, only 33.9% of the households surveyed put OFW remittances into savings and only 7.6% put them into investments.

There are many ways to invest your hard-earned income. Here we provide options that we believe are the best investments where you can earn sure profit and keep you away from scams and swindlers.

Franchise Business
Another great investment for OFWs is owning a business franchise. It gives you the opportunity to learn the ropes of running a business while having a tried-and-tested system in place.

For small franchises, such as food carts and kiosks, starting capital ranges from PHP 50,000 to PHP 900,000. For bigger franchises, capital is much higher and starts at around PHP 800,000.

A word of caution when starting a franchise business: Always have a buffer or emergency fund. You may spend more than your starting capital for miscellaneous expenses such as permits, rent advances, additional equipment, etc.

Being a franchise owner offers OFWs the opportunity to earn additional income. But you must have partners you trust. Being an OFW, you are not always in your home country, and someone will have to run the day-to-day operations.

While you are away, you can let your family handle the franchise business. Instead of merely depending on your remittances to cover their daily expenses, your family members can be more productive in managing the business and earning profits from it.
Real Property
Real estate is one of the preferred investments for OFWs because a home is a tangible asset compared to stocks and mutual funds. Another is the personal benefits of having your own place.


Earning in foreign currency allows OFWs to invest in real estate in the first year or two of them working abroad. Compared to those working in the country, it may take years to be able to save up for a down payment on a home.


Real estate has the potential to yield great returns. Also, if you end up selling your property, you will have a large cash reserve in the millions.


Nowadays, the popularity of short-term rentals via online platforms such as Airbnb and Agoda Homes makes it easy for OFWs to earn money quickly by renting out their idle apartment or condo units.

Mutual Funds 
Mutual funds and unit investment trust funds (UITFs) are pooled investments that OFWs can participate in for as low as PHP 1,000.


To open a UITF account, most banks require a personal appearance, but others, such as BPI, PNB, and Security Bank, allow you to apply abroad if you already have a savings account with them (or in the case of Security Bank, an existing UITF account).


For mutual funds, you can open an account with a mutual fund company (Philequity, ATRAM, or Sun Life Financial, etc.) or through a stockbroker such as COL Financial and First Metro Sec.

Why are Mutual Funds and UITFs a Good Investment for OFWs?

Mutual funds and UITFs do not require much effort and time compared to other investments for OFWs such as stocks and business. A professional fund manager handles your mutual funds and UITFs. All you need to do is put in the money.

 Pag-IBIG MP2
The Modified Pag-IBIG Savings II (MP2) is a five-year voluntary savings program that OFWs can avail in addition to their regular Pag-IBIG savings. The Pag-IBIG Fund allows a minimum monthly investment of PHP 500 for MP2, though OFW members may opt to put a higher amount into their MP2 accounts to earn higher dividends.


The MP2 earns annual dividends with rates that are higher than time deposits and even other investment channels such as mutual funds. The dividend rate even peaked at 8.11% in 2017. For 2019, the Pag-IBIG Fund has declared a 7.41 dividend rate.

Earnings from the MP2 program are tax-free and government-guaranteed, so there’s no risk of losing your money.

 SSS Flexi Fund
Starting to plan your retirement? The SSS Flexi Fund, a voluntary savings-investment program for overseas SSS members, is one of the best investments for OFWs who want to build their retirement fund.

Similar to the Pag-IBIG MP2, OFW members enjoy risk-free and tax-free benefits under the SSS Flexi Fund program. Although it’s meant primarily as an OFW investment for retirement, it can also be used to cover immediate financial needs through an early withdrawal.

Another advantage of investing through this SSS program is earning incentives when you don’t make any withdrawal or benefit claim within a year.

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VUL Insurance
VUL stands for variable universal life insurance, an insurance product that doubles as an investment vehicle. It means that a certain percentage of the money you put in your VUL policy goes to the cost of insurance, while the rest goes to investments.

In short, VUL allows OFWs to get themselves insured while growing their money simultaneously.

Why is VUL Insurance a Good Investment for OFWs?


There may be some valid arguments against getting a VUL policy like it is a lazy way to invest. However, if there’s a group that benefits the most from VUL insurance, it’s the OFWs who barely have the time to learn to invest and monitor their investments.


And since it’s an insurance and investment product rolled into one, VUL is ideal for OFWs who want to protect their loved ones from being financially burdened should they pass away, and save money for retirement should they live longer.

 PERA Investment
Personal Equity and Retirement Account, or PERA for short, is a voluntary retirement investment program in the Philippines. Once you open a PERA account, your money is invested in various vehicles, including bonds, stocks, mutual funds, and UITFs.

OFWs stand to benefit the most from PERA because they can invest higher amounts (maximum of PHP 200,000 annually) than non-OFWs (maximum of PHP 100,000 annually). They also enjoy a higher tax exemption of up to 5% on their PERA investment.


OFWs should take advantage of the benefits that PERA offers. It’s a great opportunity to prepare for retirement because earnings are exempted from taxes. Also, OFWs can invest a higher maximum amount (PHP 200,000) every year compared to non-OFWs, who can invest only up to PHP 100,000 annually.

Stocks
With the advent of online trading platforms, OFWs can now participate in the Philippine Stock Exchange (PSE) even if they’re based abroad.

COL Financial, an online broker, allows OFWs to open a trading account without a personal appearance. You can send your application forms and supplementary documents via courier and then fund your account via wire transfers.

In addition, numerous online stock brokers allow you to open an account for a minimum of PHP 5,000. With the high earning capacity of OFWs, they can invest more than that and add to it monthly.
Stock investing allows your money to grow if done right. Annual returns of 50% are possible with the stock market, but of course, you need to put in the effort of learning and studying.

The number of OFWs continues to rise each year. These modern-day heroes continue to work away from home for a brighter future. 
Investing makes all these goals possible without the need of leaving their family behind. 

©2019 THOUGHTSKOTO

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How Can OFWs Encourage Their Spouse To Save

More often, families with overseas Filipino workers (OFW) rely on their OFW breadwinner in providing their needs and without doing any efforts to have extra income. They use the money they receive to pay their bills, rents, mortgages, etc. They tend to spend the remittances they receive and wait for the next remittance when the money is over without any savings. This is the reason why no matter how long the OFWs exhaust themselves working overseas, they are still coming home broke and without any savings.
Encouraging our spouse or anyone who is responsible for the remittances you send to save could be a great help and could guarantee a hassle-free retirement, much more if they placed this savings to a profitable investment.

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Stick to a budget schedule
Convince your spouse to make a monthly budget and commit to saving a portion of the monthly remittance. They could also spend the remaining part of the budget after setting aside the savings.
No matter how small the savings, it could mean a lot after a period of time you regularly do it.

Use the credit card wisely or do not use it at all
Credit cards could be an advantage when purchasing but it can also lure the holder to spend more. Whenever possible, avoid using credit cards and use cash instead. It would save you from paying extra charges and interests which can really raise your spending.

The best rule should be, do not spend the money you do not have. 

Always make a list of important things to buy

Many OFW spouses tend to go on a shopping spree just after receiving the remittance and let their impulses lead in which items they like to buy at the very moment without putting their priorities on the things they really needed.

Encourage them to develop a habit and discipline of making a list of the things they need to prioritize during shopping and strictly follow what is on the list to avoid spending too much on the things that are not really important.

Live a lifestyle that suits your income

Many OFW spouses live like one day millionaire. after claiming the remittances you sent, they will go straight to the mall, eat at the fast-food chain of their choice, go on a shopping spree buying what they want without even thinking if they still have the money to go through the month until the next remittance. If their budget got short, they would borrow money from someone which would cause the next budget to bear the shortage and the cycle goes on.

There's nothing wrong with being generous but not too much

Advise your spouse to exercise caution when giving help to extended families, relatives or friends. There is nothing wrong with extending help but there has to be a limitation. This would avoid them to become dependent on your assistance that they would knock your everytime they need financial help.

Working overseas is not forever and you will eventually come home for good. It is you and your spouse who need to work hand-in-hand to succeed. Together you must find ways to take care of your finances and save for the future of your family.

Filed under the category of overseas Filipino workers, extra income,  bills, rents, mortgages, remittances, working overseas, retirement, investment, savings

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OFWs Shares Secrets Of Their Successful Reintegration

In order to earn more and be successful, many Filipinos try their luck in finding jobs abroad thinking that it might be their best shot or it could be the biggest break they are waiting for. But do you know that there are overseas Filipino workers (OFW) who have found success just after they decided to come back and stay in the country for good? Yes. This only proves that working abroad is not a guarantee that you will be successful, likewise, staying in your country does not always mean that you cannot give the life that you desire for your family.
If you are already working abroad, the best thing to do is to start saving even a small amount for your retirement as early as today.
You can also seek assistance from the Overseas Workers Welfare Administration (OWWA), Department Of Labor And Employment (DOLE), Technical Education and Skills Development Authority  (TESDA) and other government offices concerning OFWs.

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For a successful reintegration, OFWs must conquer their fear and fight their negative thoughts. In order to succeed, according to Myrna, a former OFW in Hong Kong who a CEO and President of a company based in Davao City, you must not fear about failure. In failing, the success will start because there is where learning begins.

For Kenneth Carredo, a former IT specialist in Thailand who is now a franchise owner of a leading spa massage chain in the country, coming home strengthens family ties even more compared to working away from them for a long period of time just to earn. Now he can give them what they want and most of all, a precious time together while earning.

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Most OFWs are being tied off just wanting to earn bigger monthly income by working abroad. What they do not realize is that thay can actually earn as much or even better if they will start to maximize hat they earn while working abroad and make an investment or savings that will enable them to put up their own business and earn should they decide to finally come home for good.

One Crown Plaza in Guagua, Pampanga is owned by a former OFW who was working in Saudi Arabia as an assistant comptroller.

Miguel Bolos said that you must start learning about the business you want to put up not when you decided to go home for good but while you are still abroad. Do not waste your time and effort, instead, you must maximize your time in taking every opportunity to earn. That is how he found success.

For Irma Bueno, a former domestic worker in Hong Kong, regular communication with the family is important. She left her 11-month old baby to work abroad and on her first vacation, her kid was already 3 years old. When she arrived, her kid did not recognize her at all. It is sad that while she was doing the sacrifice of leaving her family behind and taking care of someone else's kids, her own kid does not know her. So she decided to stay and do business together with other OFWs.

Ronelyn Achacoso suffered abuse and maltreatment in Brunei. She picked herself up from the tragic experience and never worked overseas again. She is now the owner of Nelyn's handicraft which allows her to earn handsomely while enjoying the comfort of her home country away from the harm she went through in her former overseas job.
Putting up a business can be full of ups and downs but Ronelyn reminds the OFWs not to be discouraged.

Bong Clavel, a former boilermaker said that the success of his business depended on honesty and integrity. Considered as one of the largest businessmen in Alabel, Sarangani, he said that the secret is treating the customers and his workers well.

After working for 20 years as an engineer in Saudi Arabia, Antonio Ranque decided to come home for good and be a part of a cooperative which provide homes for the poor people. His advocacy is to extend help to people through cooperative.

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There are many success stories of reintegration among the OFWs. The most important thing is that do not be afraid to come back and put up your business. you need to have a plan from the very first day of your deployment abroad. when the time is right and you have saved enough, its time to go home. you wouldn't want to spend your time away from your family and just come back when you are old and cannot enjoy life anymore. It is better to enjoy life with your family and loved ones.

Filed under Filipino, OFW, success, jobs abroad, retirement, OWWA, DOLE, TESDA, 

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©2018 THOUGHTSKOTO

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