To be fair, most of us at Insurance Manila PH use our credit cards on a regular basis. A credit card is a convenient tool to pay bills, purchase groceries, make online payments, and many more. We even use it to pay for our insurance premiums. The problem arises when you don’t pay your credit…
Financial experts all agree that investing a fixed amount regularly is the best way to grow your wealth. Did you know that if you started investing at age 20, you can have Php10 million by the time you reach age 65 just by setting aside Php1895 every month? As you grow older, you’ll need to…
Wondering what to do with your finances during the quarantine period? Have control over the financial uncertainty by doing these 6 money moves. No need to panic. Keep track of your finances by following these simple steps. Stay safe. Visit our Facebook page for more info.
If you were given a choice, what would you pick — P1 Million today or one centavo that doubles every day for the next 30 days? I’ll give you a second to think about it. Ready? There’s no wrong answer because either way you would end up being a millionaire. However, if you chose the…
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The Commission on Population and Development (POPCOM) estimates that 2 million Filipino women ages 15 to 49 years old are expected to get pregnant this year as a result of the COVID-19 lockdowns. The increased downtime has resulted in increased intimacy among couples, resulting in unplanned pregnancies. That is a lot of babies coming up…
Here is the actual tuition fee of an exclusive school in Quezon City from 30 years ago. From Php6,000/year in 1990, right now the tuition fee in that school is at Php100,000/year. That’s an annual increase of 10% for the past 30 years. If that trend continues, it will cost you Php400,000/year in 15 years…
Having an emergency fund is essential in your financial plan. It provides you a safety net for when a rainy day comes. Have you started building yours? Visit our Facebook page for more info.
One of the best ways to stay on top of your money game is to budget and plan ahead. Check out this budget rule by Dave Ramsey, to help you navigate and manage your income and expenses. Visit our Facebook page for more info.
Simple Interest vs. Compounding Interest
What’s the difference between simple interest and compounding interest? Say you invest Php10,000 today at a 10% interest rate. With simple interest, you will earn Php1,000 every year (10,000 x 10%) as long as your money is kept invested. And in 5 years, your money plus interest will total Php15,000. That’s because, with simple interest,…
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