Better Banking Rewards with Security Bank

 

Had a lovely morning at Shangrila Mall's atrium yesterday as Security Bank had all their people celebrate in "Ready, Set, Redeem!" which is a launch for their #BetterBankingRewards platform as part of their credit card perks. I think it's special because they really have designed it in a way where cardholders would be able to earn points easier, use their points with flexibility and enjoy the rewards conveniently instead of just being stagnantly there. With appealing promos and partner merchants as huge as the Mastercard network, you'll get to see and feel how rewarding it is to have one.

 

At the Shangrila Mall, they had different stations to exchange points into miles with different airline companies (You can exchange your existing rewards points from Security Bank to the preferred airline and buy the needed tickets you want. For international or domestic flights, partner airlines are accessible on the app), taught folks to also use it for hotel stays, had us watch Will Dasovich spend it like actual money to change his wardrobe, styled for a flight he's having in the afternoon. It was like using the points as convenient as cash. The #BetterBankingRewards is accessible through the Security Bank app or the website. Simply register and redeem rewards in over 100+ partner brands listed there. Whether you enjoy a day in a spa, flying, shopping, they've got lots of options for you to enjoy without spending a dime, just your points of course!

 

Rahul Rasal EVP and Retail Head of Security Bank says "Welcome to our partners, to Mastercard and Security Bank family. How many are married? Not Married? Do you believe in happy wife, happy life? A resounding Yes, but happy husband doesn't matter. I went on a vacation once, but had to call my bank to increase my limit, the kind person said it's okay, we can redeem your points to get you a room upgrade. That's when I felt the importance of rewards, you can do this on flights and hotels, and in a lot of merchants. We hope you too get a rewarding experience with Security Bank."

This doesn't only apply here, but internationally (so use your points and exchange them with other loyalty points smart!). You can also monitor your points spending in the same place. This convenience makes it a #BetterBankingRewards experience so if you apply for a Security Bank Credit Card today, you get to earn points like a pro. No wonder they've won awards for it! Head on to securitybank.com to know more.

Adulting: Choosing the Right Investments

If you have extra money in the bank, I'm sure you're trying to rack your head between just leaving it stagnant in your savings or plan to put it on investments. It's not easy because right from the start, you're dealing with hard earned money and imagine the hours you had to endure just to earn that amount. Rightly so, it's something you shouldn't take lightly.

You have to be comfortable in what risks you should take. It should fit what you want to achieve in the future. It's not the time to mince back with questions because it is a financial decision.

According to Joyce Mayo the CEO of SmarTrade (a financial education and consultancy firm) "We should understand that before investing, you should have a clear idea of you personal needs and goals because it's all about aligning what you want to achieve with your lifestyle, financial wishes and your values. SmarTrade offers FREE training and learning sessions before you do online trading. Our personalized approach makes it easier to understand and meet your objectives. The first days would certainly be crucial as you try and get a sense of your risk appetite. Everyone has a growth potential and being armed with the education, knowledge you need to thrive from the first day is essential. You have to take your strategy and align it with your long term vision."

SmarTrade provides free learning sessions and personalized coaching. This means you get to tailor fit your investments and protect your hard earned money. They do this with ATFX which is a global leader in broker services. They have a broker program for skilled individuals so they too become partners wether you are in the finance or forex industry. You also gain access to resources, get personalized support when you need to and become a part of a huge community who are thriving in online trading. This will arm you with what you need to make smart investments. If you want to know more, visit SmarTradePH.com today!

GCash and GRAB Partner Up for Seamless Transactions

GCash and Grab earlier just made things easier as they forge a partnership in all their services.

Renren Reyes of Gcash says "This is another milestone, it's our responsibility to partner with like minded brands to continue to reach more customers nationwide. GCash is now going to be a key cashless partner payment with GRAB. We are excited to make available in transport and food deliveries by linking the GCash wallet with your Grab accounts. This will make your everyday lives better as it is seamless and convenient."

Martha Elaine Borja the President of Grab Philippines says "Good morning, we are really excited to partner together through cashless payments, GCash can now have the payment method as a payment partner on our app. With GCash, we would be able to make it easier for more Filipinos do cashless and secure payments to thrive in a digital first economy. This is a first in the transport and digital payment sector in the country. The grab and gcash collaboration will further improve financial inclusion in the country "

This will be a direct payment option, to link your GCash just select account, payment method, enter your details and link. You can then pay directly with GCash your transport, food and delivery services. It is seamless and convenient. Things will start on February and only going to be implemented in the Philippines.

During Times of Uncertainties: AXA Brings You Home

If there's something that the pandemic has taught us, it's the uncertainty of life. With it still in our midst and in every other country, you've seen the need for financial security especially during these times where people lose their jobs, their loved ones, and scare us with a deadly virus every minute of the day.

People who have insurance surely have had themselves an extra layer of safety from economical stress whether it be life or non life. It was surely there when we needed it, we learned how convenient it was at the most dangerous times. Although uncertainty is still here, Filipinos are starting to look at insurance differently nowadays. We learned to plan ahead, and put importance in investments + insurance.

This should have made sense a long time ago, especially since we're in the ring of fire, in the path of over 26 typhoons a year (and much stronger ones in recent past) and floods have entered cities left and right.

To date, there's only 2.3% of Filipinos spending an average of 26% on insurance. According to the AXA Philippines Chief Marketing Officer Nandy Villar "There's fast growth in insurance services in the country. This can be attributed to the implementation of digital processes during the pandemic. Still, Filipinos seem to be just one crisis away from poverty. It's still an under insured nation."

There's still a lack of financial literacy in the country which is why AXA, aside from being an insurer takes their role as financial advisors seriously. They have trained and qualified people to become partners so you can achieve financial freedom. AXA knows that there are different strokes for different folks, needs change with age and time. Your goals transform into other things including your appetite for investments. Recently, they completed the merger with Charter Ping An which means their portfolio just got bigger, more secured.

To get assessed by the pros, head on to AXA.com.ph today!

GCASH Launches New Products in Loans, Finance, and Insurance Services

This morning was a little nice courtesy of our friends from GCASH. The number one financial app is gearing towards more services that offer financial freedom and capacity to grow your business (especially for SME's), grow your own money, insure your properties and life, and even lend you some money if you need it.

The only challenge is to have this be available for everyone, and this is where the GCASH app comes in. This is something that can unlock your financial goals, the tools that does it all. It's the electronic wallet that does payments and seamless transactions and there's no time to do it but now. They're glad to know that people are using the name GCASH synonymous with payment, and they're introducing these new services to cater to more people that want innovation.

Easy, accessible and affordable, they introduce GLoan. Tony Isidro the CEO of Fuse Lending Inc. says "Over half of Filipinos have banking access, but only 20 percent acquire loans. If they need one, they borrow from friends, loan sharks, which puts them in disadvantage sometimes. GCash wants finance for all, so now we're introducing lending products that are transparent and fair. GLoan is something that goes to your wallet without filling up any documents. If you are qualified, just go to GLoan section on the app and get it instantly. You can use it to pay for bills, essentials, shopping, tuition, or other products and services. You can also use it for capital. There's also GGives, which you can use to pay for products without having a credit card. You can pay for it in 12 months, and there are various commercial establishments and partner merchants that accept it. You can buy furniture, TV, go out without any down payment needed. Our goal is giving everyone access to finance, it's finance for all."

Jong Layug the current Head of Wealth Management introduced existing GSave. He says "This helps people save, go without piggy banks, keeping money at home, and CIMB does a good job managing funds. You also earn interest, allows consumers to save instead of just keeping it stagnant. It's also protected by PDIC and helps you keep it safely. One out of 5 Filipinos already have a GSave account, and growing more. People also want to invest, which is why we have BPI and ATRAM so they could do investments. From local and global funds, you can start growing your wealth so you could achieve your financial goals conveniently. You can expect more in the next few months."

Head of GCash New Business Neil Trinidad introduces GInsure. Access to it is a little problematic in the Philippines because it's expensive, inaccessible, and people think they don't need it. He says "More people find insurance relevant now especially Gen Z's. GInsure is easy to discover and is in one marketplace, if you need it for live or non life items, 14 right now is available, it's affordable, and is offered in different price points. Even cover dengue and COVID for only 300 pesos. We want it easy for people to purchase, and now it takes 2 minutes to do that. This enables access for more Filipinos, our mission is to make partnerships that cover life, non-life, vehicle, even bill protect. We also have insurance plans for businesses, you can even gift it to others, and soon it'll cover policies for employees, MSME's, evolving everyday. 4 out of 10 Filipinos now have a pet, and now Pet Insurance is also available. There's also Online Shopping Insurance, so those retail frauds can be resolved fast, all in GInsure." 

Here's excerpts from the press conference this morning

 

A lot of Filipinos will surely benefit from this, so if you're in the mood to be one of them, go download the app on the App store or Google Play today!

Making Sure Budget Plans Work

The pandemic has taught us a lot about how good financial management remain as a valuable skill not just for personal survival, but giving ease to the lives of your family - the closest people for you. We determine budget plans early on, with proper forecasting you get to have peace of mind yes, but in rare occasions, we all struggle. When one gets sick, incapacitated, restrictions happen and people lose their jobs, when businesses decide to close shop, these are emergencies nobody gets prepared for so it is wise you get to evaluate your budgets regularly and learn to properly make adjustments when the need arise.

Managing Finances Effectively

You need a good bank, know where you are putting savings, things for investments, for entertainment (because you deserve that too) and an emergency fund (when the unimaginable happens).


Allocate Appropriately

I always make it a point to have funds directed to a specific goal. A huge chunk of course goes to bills, food and shelter (about 50%), 10 percent goes to entertainment (if you want to go to a vacation, buy something for yourself or your loved one you need to set aside something for this purpose), then 25% goes to investments (if you prefer digital currency, bank deposits, stock market, insurance premiums or money market you need to do this early on). 15% goes to emergency fund so in times you wouldn't be able to work or pay for medical bills if you or your family gets hospitalized, you have this to get funds from. There are a lot of other things to consider and customize these rates, you need to weigh what works for you and stick to it. If you need to adjust, go ahead and make that play. You need to be a little aggressive in making sure your budget works for you.

Monitor Your Investments

Since a huge part of your funds go to investments, you need to have this checked a few minutes a day. Make smart choices if you are looking for short term ones, relax on the long term goals. You don't need to watch lines go up and down and spend hours for it, so only do it when times are volatile, and be aggressive if you have the money to do it with. Familiarize yourself with the market and slowly make your way to grow your funds. You also have to find one that fits your lifestyle. If you want to delve into business, or become an entrepreneur, pick up  a loan with easy payment terms and lower interest rates because a lot of it is out there. 

Manage Your Debt Wisely

Loans, credit card bills are of course part of the game. If you've got a lot of these, consider plans to pay more than the minimum monthly payments to reach your goal of zero debt. You can schedule payments for some purchases for ease of doing business and everyday transactions. Know when interest rates would be okay for you or not. See if you are going to benefit in the long run because remember, some loans and credits are not taxable and if you pay them earlier, it won't be too painful to see where your funds go. Give debt consolidation a try so it would also be manageable to pay for things. If you want information on that, click here.

These are what I do now in order to manage funds, if you've got one that serves the purpose, follow your own strategy and adjust when you see the need to. The market isn't constant just like change, think of more ways to grow your money and see if your budget plans work today.

PayMaya About To Make Crypto Easy

Looks like it's going to be easier to get crypto as a part of your financial portfolio as PayMaya launches their crypto feature. This means you can buy and get digital assets like Bitcoin, Ethereum even for Php 1, something unimaginable in the past.

Usually, it takes a lot of verification and e-wallet funds in order to join the crypto journey but now, they've managed to use their Invest platform and connect everything for ease of transactions. This is through Coinbase Institutional, the largest traded crypto company in the world which will bridge ordinary joes  like you and me to utilize the PayMaya app access to their suite of products, you'll be trading a lot in no time.

Only Upgraded PayMaya users can access this in the app so make sure you do that before it launches to the public soon. They will have tutorials too so you get to navigate things easier, know when to buy, sell, hold or cash out in your PayMaya app. What's even better is that you can use PayMaya too to transfer funds into your bank so it wouldn't be hard to manage funds because it's all in one place.

Just tap the Crypto option on the PayMaya app, buy the selected crypto currency, confirm the transaction and slide to buy. It then will show on your Crypto page once the transaction has gone through, it's really that easy.

Go check out PayMaya.com or their socials to know more about this. I'll be ready when it goes up!

PayMaya is Too Good to be #2

Well yeah, I am kinda also in a rut when they said that PayMaya is number 2 for the Financial apps in the country. I've been using this service since they started, and til now, I've been able to conveniently pay for all my bills via the PayMaya app.

PayMaya also has almost no downtime, which is super convenient especially for me who do transactions in the wee hours of the morning. They also have a lot of cash in channels aside from online banking so I can just walk to a store and load up when I need it. Most of it is free too so there's no additional fees (most of the time). They also have the capacity to transfer money to other accounts, send it to family or friends, even causes you believe in like during this pandemic. PayMaya also has the ability to pay for your bills, government agencies, or various shopping apps that you also go to when there's a sale. You can also monitor your transactions because as soon as it goes through it reflects it on the app. Registering is a cinch and you can get your account verified if you need more features unlocked. They also value security, something I put a lot of importance to, so thanks PayMaya!

Go download the app now on Google Play or the App Store. Go to PayMaya.com if you need more info!

Huawei Partners with Local Institutions for Inclusive Growth in the Digital Economy

Huawei just concluded their Intelligent Finance Summit 2021 last November 18 with thier theme "Digital Infrastructures for Inclusive Digital Economies". Industry leaders from different agencies and fintech companies shared their thoughts on best practices on how they could promote inclusive growth in the next few years.

Huawei Enterprise Business Group's Jason Cao says "Huawei has been in this industry for a little over a decade and has served over 2000 institutions which includes the top banks. Our company has been a significant partner in digital transformation and we're not stopping there."

During the talk, they concentrated on what the effects of digital transformation is and how to make it inclusive in the Philippines. The industry is still growing and it's time to discover more industry trends. BSP continues to set really good financial goals, Fintech Philippines Association also promotes inclusion, UnionDigital shares how blockchain could be used to expand this business, and PayMaya gives good advice on how to use digital payments to enable more businesses to grow especially in the Philippines. With Huawei cooperating even more, this could accelerate even further and bear more fruitful partnerships in the years to come.

That's amazing to see, as it become a reality for all of us at this side of the world.

A Premium Memorial Park: Golden Haven Bauan in Batangas

Like in a gathering, when you want to leave, you want to make an impression. In the coastal municipality of Bauan in Batangas lies a vast parcel of land that's got fresh air, lush greens and unbelievable views of mountains and the Batangas bay. It's called Golden Haven Bauan, a one of a kind premium memorial park that's set in Bauan, Batangas.

This is one of the newest properties being launched by Golden Haven Memorial Park which is a publicly listed subsidiary of Golden MV Holdings Inc. which is owned by the Villars. They offer premium death care services and memorial lots which has been deemed a worthy investment of young professionals currently averaging 20% annual value in appreciation. Golden Haven Bauan would be perfect for Batangas born Filipinos who would like to own memorial lots that would be easy to pay in terms or invest in it for future use. It would also be good for those who would like to be ready, and own a place to properly celebrate loved ones when they pass, in a majestic setting. The place also has park personnel that would be prepared for All Soul's day, following protocols set by local and IATF lead agencies. They also have online channels for transactions on their website for scheduling appointments, visits, and their other services. You may visit their site goldenhaven.com.ph or their social accounts by simply searching Golden Haven on FB, Twitter, IG, YouTube, Pinterest, even Tiktok. Call 88732922-23 if you have inquiries.

Insurance Crisis in the Philippines Addressed on 11th Unionbank E-TalkTales

Woke up super early for this but had my cup of coffee and forgot to login promptly for the 11th edition of the E-Talk Tales hosted by Unionbank. Guest speakers were UBX President and CEO John Januszczak, Coherent CEO John Brisco and Chubb Deputy Regional President for Asia Pacific Glen Browne.

They discussed the Philippines low insurance coverage and how much Filipinos have not seen the benefits of having one. John Januszczak says "It's not easy for most people to have a basic understanding of how it can be valuable for them. Providers should device a way to make it easier for them to discover it. You have to make them relate, have it personalized and not make it complicated. These days, some products are being shown the same way as it was 50 years ago. It should be easy to understand for customers, agents and advisors. Mobile has been a great enabler in the Philippines and we have to leverage that more so for internet connection, I believe there are creative ways to do it. We're bringing products to make the transaction faster, to make it easier for them to buy insurance. There is indeed a lot of upside in getting insurance."

John Brisco, CEO of Coherent says "What we do is make it easy for them to create products by providing data, help them interact wtih insurance and UBX without hitches, make it accessible for everyone. We want to help integrate them into the UBX ecosystem and act as the facilitator between them and UBX. We want it to be as seamless as possible."

Glen Brown adds "Insurance is seen as something extremely complicated, when we first partnered with UBX, what we could do here was different from other countries. We'd learned across Southeast Asia that we need to bring the best solutions to more that 50 Million signups in the region. There really has been a change in the last 2-3 years. Chubb continues to provide world-class products that fits in that experience and Coherent is bringing the technology that makes that happen. It's quite unique."

With the way things are, there are lots of room to grown in the insurance business in the country. You just have to have the right partner to make it work.

30,000+ TaskUs Employees Benefit from IPO

After baring its plans to go public a few months ago and filing a very successful IPO this June 11th, Santa Monica based company TaskUS is paying cash or equity to their almost 30,000 employees this month. Company leaders were awarded equities while employees are awarded a one time cash bonus as accorded by their tenure in the corporation.

TaskUs CEO Bryce Maddock says "TaskUs exists because of our teammates and support organizations from HR, IT, and Finance. Without their help, there wouldn't be an IPO for the organization. We want to ensure TaskUS employees got their chance to participate with a bonus and continue our investments to support their career growth. We continue to invest in our people with industry leading benefits and career advancement opportunities. This is part of our teammate focused values so everyone gets a great employee experience when they work at TaskUS."

Aside from that, TaskUs also announced a global Tuition Reimbursement and Professional Development Program aimed to support to employees aimed at continuing and further education. TaskUs has been awarded Best Global Culture by Comparably this year and “Best Places to Work” by Business Intelligence. It's just some of their phenomenal achievements for its people-centered culture.

And from the looks of it, they're doing really good!

BDO and Huawei Join Forces to Provide Inclusive Financial Services for Filipinos

If you are currently using any form of online banking in the Philippines, consider yourself lucky. Over half the population only have access to that and although a lot of Filipinos have access to the internet and social media, a lot have still no access through financial technology.

We have all been very active online which you probably see on online voting competitions when a Filipino bet is included. BDO knows at the current rate, they need to improve more of their services so Filipinos have access to it. April this year, BDO launched BDO Pay which is a mobile wallet solution so more people have access to digital banking and contact-less payment systems. This expansion was made possible through Huawei's OceanStore Dorado All Flash Storage solution which does reliable, secure and future proof way of storing information on the cloud platform. It safeguards all of the data of the bank including transaction history. This solved a lot of BDO's infrastructure needs over the years and since business grew, they needed to scale up fast, safe and efficiently.

The old system needed automation and this solved it including operation and maintenance of the system. Previously, they got hounded with complaints on certain occasions that they did it through manual ways. Digitizing made it accurate, easier to diagnose and very efficient. BDO also upgraded to Vitrual Private Cloud as part of their innovations, and with Huawei right by their side, they'll maintain BDO's leading post as the largest bank in the country.

PayMaya Launches PLAYMAYA

Now it's become easier to actually play and conquer enemies online as fintech giant PayMaya just launched their newest innovation called PLAYMAYA.

Ms. Heidi Garayblas PayMaya Head of Wallet Partnerships says "We're excited to bring your gaming experience to a whole new level. With digital payment solutions, we've had millions use PayMaya to send money, buy groceries, food, transportation, and more. PayMaya has the best e-wallet experience through our network. This is why PayMaya continues to be the top rated e-wallet finance app in the App Store and Google Play. To continue our mission in game changing innovation, the Philippines is a nation of gamers and we've coped much as we were all stuck at home and now, 4 out of 5 Pinoys play mobile games or video games and they are spending for game purchases. In 2019, one of the world's biggest market is the Philippines. We want PayMaya to provide the best gaming products to all. We're going to level up your gaming experience with PLAYMAYA, on the play button, you can enter 290 gaming related products and offers, deals, perks, livestreams, and more all within the app! It won't be complete without a Balik Bayad promo, we're going to give you 50 percent cashback when you buy gaming credits and top ups. Mobile Legends, CODM, PubG, we're going to have a PlayMaya Tournament in partnership with REALME, giving you a chance to have P2Million worth of prizes per leg. This is Sign up with the PlayMaya feature, visit smart padala centers and scan the QR code on the poster and sign up for the tournament. Smart is also raffling off 30 diamonds to those who will get the GIGAGAMES99 inside the PayMaya app. PlayMaya will also have games available in the app. Gaming pins, live content, deals and better rewards now have PayMaya on their back, are you ready to level up your game with PLAYMAYA?"

Deals, rewards and content all in one place, that's PLAYMAYA. If you're good at it, go join the tournament with your friends and you could be the lucky winner of over Php 2 Million pesos! That's 50 percent cashbacks, win realme gadgets when you purchase ML products, and win diamonds on subscription to Smart.

PlayMaya is one of the most game changing innovation on our PayMaya app. It's now a one stop shop for all gamers without causing problems, it caters to serious gamers and casual gamers, and also for those who look foward for things to watch like games and tournaments all inside the app. The PLAYMAYA Tournament is one way also to showcase your talent against the best of the best in the Philippines. They partnered with Smart Padala who can get you registered in over 39 thousand Smart Padala centers.

Oh and yeah, they just got CONGTV to be their latest brand ambassador for PLAYMAYA. He says "I'm nervous, I'm in between two beautiful ladies. I'm very lazy, instead of jumping from one app to another, you have it all in PayMaya. It makes it all convenient. You still would be able to pay bills inside the app without the need to go out, I want all to be online in transactions, it's what I do now. I'm not a pro gamer, but as a streamer I don't really win, but I dress good, I make sure I entertain people. You have to be disciplined in all these things, and time management to make sure you win at the end of the day. Palakpak tenga ko eh! Samantalahin niyo, hindi araw araw ganito kasi opportunity to sa mga amateurs, sa PUBG, COD, ML, this is your chance to win games and get that crown, wala naman mawawal kung subukan niyo. This is big, and only PayMaya did it."

Ms. Heidi says "CONG has been loved by Filipino gamers, he established his own space together with team Payaman and he's very relatable. He's real and authentic, and we saw how he was able to level up in his gaming and how he conducts himself in his daily life. He will empower Filipino gamers with PLAYMAYA."

Go check it out on the PayMaya app today, and if you have time, they're still live playing on the PayMaya Facebook page with CONGTV and trashtalker Ghost Wrecker.

Money And Other Things With Home Credit

Financial literacy is the most uninteresting topic as some of you may find but we got schooled by Home Credit and their advocacy.

Franchet Cardona of Home Credit says “We operate to 10 markets globally, we are the leader in in-store loans in the Philippines and served 5 Million Filipinos. Our advocacy is financial literacy and since we launched Juan Two Three, we tried to help people about understanding how to save and invest. A lot of people don’t know that and this is why more Filipinos don’t have access to banking, 77% and with us, 65% are all first time borrowers. In our program we go to communities and barangays to have interaction with people, do interactive games to teach our customers how to understand the value of money. Today we have reached thousands of households, how to save and take care of their hard earned money. We have also been recognized by Stevie Awards, and it is important we work with different agencies. At Home Credit, we teach the basics and do hands on stuff in communities. It includes farmers, soldiers, ordinary pinoys and go beyond videos and presentations. It is super important to reach our stakeholders, even in our own offices. We need to have inclusivity and help Filipinos prepare for their future. I hope you get a lot from this session.”

Fitz Villafuerte of Ready To Be Rich says “Thanks for inviting me. One of my advocacies is financial literacy and I am a registered financial planner. It’s a new profession but we are different from financial advisors. I am also an author, entrepreneur and blogger. We are talking about principles of investment matching. What is the best investment? I have always encountered that question on all my channels. Remember, personal finance is personal, which means it is your decision. For me you have to know the situation of the person before you can plan about it. We can’t argue about what you want. A lot of people base their decision with what other people expect of them. If you choose investments, it’s not just the profit or potential returns that you go for, you have to know who’s handling it. The usual pyramid scams from never heard companies always get people in with attractive returns. Knowing and comparing hundreds of investments is difficult, but it all boils down to what you need and want. Find the investment that you can do to achieve them. Do you need something for emergencies? Do you need it for retirement? Do a specific investment to do a specific goal. The best investments are not those that earn the most, but those that help achieve your financial goals. It’s where you have to classify different kinds of investments. For Liquidity, Growth and Income, you have to choose if you want Easy access to money, money reserved for the future, or increase your present cashflow. For terms, do you need it for short term, medium term (bonds), Long Term (Equity), you also have to know the risks (Low, Medium, High). Some people don’t realize risks and the need to wait several years for your money to grow. If you open investment accounts in banks, this is why you are asked so they could asses your goals. You set your objective, a target date and specify the value. This includes how many years away you would need to achieve it. Stock market and Equity funds are for long term. You don’t invest just because you want a large sum of money, you have to choose and have smart financial goals. You have your own, so make sure you plan wisely. Your cash flow should be bigger as the years go by. Look at your goals and set your priority. Invest according to it. There is no right or wrong decision, but every time you decide you are foregoing a lot of things versus your own goals. When you are more aware, you can handle it easily. If you want to know more, you can go to fitzvillafuerte.com.”

Atty Aileen Bautista of the CIC talked about Credit Information and says “What is your credit score? The CIC is a government owned and controlled corporation made by the law since 2008. The good news about this is that CIC has credit reports available since 2015 and is available. The CIC does structured data, the credit report and credit score is different. Credit registry and credit bureau is also different. The government owns 60% while private sector owns 40% of the stake. In the PH we are fond of informal lenders like 5’6, where a lot of problems occur for developing countries. Now as lenders, it is required by law to have them furnish credit information. The goal is to have lowest interest rates and less to no collateral. Understanding financial literacy is a bit negative, this infrastructure makes is all responsible borrowers. The law describes them as a submitting entity. It includes GOCC’s , banks, credit card companies, investment companies, insurance companies, cooperatives and trust entities. They track the previous payment behavior, those who submit data are listed in our website creditinfo.gov.ph. It is comprehensive, trustworthy, and have special entities who does credit scores. The rights of borrowers include access to credit information, sometimes for a fee, there are also rights to dispute incomplete or misleading credit information. KYC’s are done in office still. You can request and we can send it to your email. Lenders can make disputes if needed. We made disputes available online. We are hoping in the next few years there would be competition among lenders and adjust interests to low ones because there are a lot of good borrowers. Financial experts say that in order for an economy to grow you need credit data and information. Who can access data? Only for those submitting data, special accessing entities and data subjects (borrowers). Retention period for negative information on database is 3 years. This does not apply to the Philippine Data Privacy Act. Factors are history of payment, is it on time, or have you defaulted? The credit report also is part of it. We highly encourage you to check our website mentioned earlier.”

It was a lot to swallow but we all got to understand the few things which makes lending money and investments a huge matter which we all should be educated about. We all have obligations, pretty soon all these credit scores will matter (it actually does). So make sure if you are borrowing money, pay on time!

FQ The Nth Intelligence by Rose Fres Fausto

Filled to the brim with banking and finance people (most of which are Atenistas I could tell), we got to witness the launch of Rose Fres Fausto’s newest book called Arm Yourself With 21st Century Skill - FQ, - The nth intelligence or what they call Financial Intelligence Quotient.

Albeit being an important of daily living, people tend to brush this off because of its complexity, but it is essential and an integral part of business and daily decisions. This book will exactly help in that. She says “I dream to actually have a book that would be able to create a healthy money mindset for everyone, one that would reboot one’s relationship with money and the basics of handling it. I also want to stress what the purpose of money is in our life, it’s to fulfill our core values. We also want to make FQ an important part of raising our children so their financial affairs won’t be a mess, no matter how successful they are in any field, so they can be stress free and truly happy. You must know how to Pay Yourself, Get Into Business where You Can Seek Advise From Competent People, Make Your Gold Work For You, all of which will be explained in the book.”

She adds “I am Ilocana, thrifty ones, raised frugal but happy and confident. I was dressed with colorful pieces off of excess textile from my sisters outfits. Now we watch our expenses like a hawk, our financial statements were enforced. This started my FQ experience, my kids now save and prepare for their future and taught them, exposed them on how money really works. Now they ask about how some people not prepare for their retirement, you on the other hand will dispell myths, talk about it while you are still young because money needs time to grow. It is a call for everyone to mind our FQ.”

The FQ: Nth Intelligence book is now available in leading bookstores for only Php 385. You may follow her channels FB and YT @FQMom, and IG and Twitter @theFQMom. You may also access the online FQ Test via rebrand.ly/FQTest.

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