Cost of Living in the Philippines

The minimum wage Pinoy worker generally makes about PhP130,000.00/USD2,550.00 annually. Decent homes in Cebu City right now are going for about PhP5,000,000.00/USD98,040.00. That is 38 years worth of annual income for the average Pinoy! In some parts of the US (probably rural areas? like Cincinnati, Ohio; Hopewell, Virginia, etc.), you can already buy a home for that same amount of under USD100,000.00 like here. … More Cost of Living in the Philippines

Feeling the pinch of inflation, yet?

In times of rising inflation, it is technically ideal to spend your money now, as opposed to later, when the same amount can only buy you less number of goods. That way, you can do your part in stimulating the national economy.

But it’s not your patriotic duty to spend, especially when you live in a country where you’re expected to fend for yourself, in terms of healthcare, food, shelter, and clothing, or you know, the basic needs. … More Feeling the pinch of inflation, yet?

Keeping the Lights On

Happy hearts day! Almost 2 months after Typhoon Odette and I’ve almost completed our prepper phase 1 to 3, involving emergency power supply and drinking water, but more on that later. Apart from investing, it is important to adequately prepare for an emergency not necessarily involving finances. Financial security should provide you comfort and options. … More Keeping the Lights On

Reduced Take-Home Pay

MP1 is a mandatory contribution and employers are mandated by law to pay a counterpart amount (which amount isn’t deducted from your salary and is a totally separate contribution) This means that the amount that the employer pays for your PAG-Ibig MP1 remains the same at a measly PhP100.00/USD2.00. Your contribution and that of your employer goes straight to your MP1 account. So these are money in your pocket. … More Reduced Take-Home Pay

Homeownership Update: Paying down the principal

Over a year after taking out a home loan from government financier PAG-Ibig, we must admit that it’s been smooth sailing so far. Applying for the home loan at the initial stage wasn’t as much of a hassle as it should have been as our developer did the paperwork for us. We only needed to submit the necessary documents to it, and its employees were the ones who did the actual leg work and follow-ups with PAG-Ibig. … More Homeownership Update: Paying down the principal

By abandoning SSS, are we shooting ourselves in the foot?

An SSS pension is one of the few social safety nets that we enjoy in the Philippines. We have a four-tiered system of social protection but let’s talk only about the stuff that are fairly accessible to most of us at retirement: (1) SSS (pension for private workers, voluntary contributors, etc.), Government Service Insurance System (GSIS) (pension for government workers), (2) mandatory deposits/contributions maintained at PAGIBIG*** (or simply, the MP1, that PAGIBIG deduction on your paycheck), and lastly, (3) private pensions maintained by your corporate employer. … More By abandoning SSS, are we shooting ourselves in the foot?