We are all doing our part in helping out people who were affected by the typhoon. People who make harsh judgments or crass comments are not at all any help to these causes. Whoever you are (you didn’t even leave your real e-mail address), I hope you have done your part in helping out.

There’s your webmaster in the red cap wrapping sandwiches in Akbayan.

Additionally, here are more tips from Bayanihan Online :

Your Typhoon Survival Kit
October 1, 2009, 2:29 PM
Filed under: Survival
Being prepared is always one step towards survival. Here are some things that we think is important to have during times like these. Prepare them beforehand and keep them in a safe place at all times. Better yet, keep them with you, or in an area that is easy to reach and won’t get in the way of raging floods, etc.

YOUR TYPHOON SURVIVAL KIT
  1. Clean drinking water. Good enough for a week. Consider having at least 1 gallon per person per day.
  2. Other drinks. Consider: juices in packs, carbonated drinks, coffee.
  3. Food. Also good enough for a week. Consider:
  * Snacks that are easy to store and carry (biscuits, cookies)
  * Non-perishable canned food (corned beef, tuna, pork and beans, vienna sausage, etc.)
  * Candies to maintain sugar in body and keep acidity at bay
  * Bread that will last for a few days, for carbo load
  * Instant noodles, if you have the means to cook
  * IMPORTANT: food for babies and the elderly if you have them staying with you
  4. Food utensils.
  * Spoons, forks, knives, paper plates, drinking cups
  * Non-electric can opener
  * Cooking stove and fuel, if possible
  * Plastic bags
  5. Medicines. Consider having medicines for the following:
  * Fever and nausea
  * Coughs and colds
  * Hypertension
  * Diabetes
  * Diarrhea
  * Anti-tetanus
  * Anti-leptospirosis
  * Other prescription drugs that you need to take
  * Also include asthma inhalers with extra nebules and other asthma medicines
  6. First Aid kit. Must contain band-aids, gauze, tweezers, alcohol, antibiotic ointment, hydrogen peroxide, bandage scissors, absorbent dressings, antiseptic wipe packets, cold compress, gloves and thermometer.
  7. Sanitation kit. Make sure that you have tissue wipes, toilet paper, sanitary napkins, diapers.
  8. Toiletries. These include toothpaste, toothbrushes, soap.
  9. Blankets, towels, comforters, pillows. You can put them in large garbage bags to keep from getting wet.
  10. Extra clothes and underwear. Put them in plastic bags to avoid from getting wet. If you can, pack something that will last you for a few days.
  11. Jackets, sweaters, socks, caps. And anything else that will keep you warm and dry.
  12. Emergency lights and flashlights.
  13. Fresh batteries. Have reserves for batteries of different sizes, especially for radios and flashlights.
  * “Ideally batteries should be advanced lithium or lithium so they have a longer shelf life….but the new Energizer Advanced is good enough to last a lot of long usage compared to Energizer Max batteries….” [via Comments]
  14. Radio. Must be portable, battery operated, has functional AM station.
  15. Mobile phone. Make sure the battery is fully charged, and that you have a spare one, too, in case of emergency. Also consider walkie-talkies.
  16. Cash. Banks and ATMs might not be available so make sure that you have cash with you.
  17. Keys. Have copies of keys to the front door, back door, garage, car keys, etc.
  18. Items for pets. Consider also having a leash, muzzle, cage and food for your pets.
  19. Umbrellas and tents
  20. Water pails and dippers
  21. Floatation devices like life jackets, styrofoams, old tires, etc.
  22. Rope
  * “I advice against tying family members together on a rope…if one member is swept away then the others will be pulled as well unless one person has super human strength….the rope should be attached as a guy line to guide members or as an escape line from high structures…” [via Comments]
  23. Plastic whistles
  * “Fox 40 whistle is available here in the RP…definitely loud.” [via Comments]

IMPORTANT DOCUMENTS TO PROTECT
Many people have died trying to go back for these things, so it’s important that you are well-prepared already at this point in time. Keep these documents in a water-proof container:
  1. Birth certificates
  2. Insurance records
  3. Medical records
  4. SSS, Pag-ibig and Philhealth records
  5. Identification cards
  6. Passports
  7. Bank account numbers and records
  8. Emergency contact numbers (i.e. NDCC hotline numbers, PNP, etc.)
  9. Contact numbers of family, friends and loved ones
It is important that you have an ID with you wherever you go. Also, a list of people to contact in case something happens to you. If you can, put your emergency contacts on speed dial.
If you have more suggestions, please leave them in the comments section.

Updated as of 2 October 2009, 9:14 AM.

Just a backgrounder, last weekend, Typhoon Ondoy (International name: Typhoon Ketsana) hit Metro Manila Philippines with a lot of rainfall which flooded several major cities and housing subdivisions/villages.  Many of my co-workers were affected by the floodwater as high as 20 feet.  Some of them were stranded on the rooftops of their homes for 24-48 hours without food or water until the water subsided enough for them to go to relocation points and relief centers.

In response to the growing need for supplies like canned food, rice, drinking water, toiletries (soap, shampoo, toothpaste, tooth brushes), medicines (iodine, bandages, paracetamol, antibiotics, vitamins etc.)  and linens (towels, blankets and bedsheets) - My First One Million Pesos will be accepting donations through an address in Mandaluyong City (or we can pick up at your place).  You can also donate any amount to Paypal (but we prefer goods).

If you can spare anything from your cupboard, medicine cabinet or stock of linens and old clothes, please e-mail me or leave a message for the drop off address and/Paypal ID.

We appreciate every little bit of help.

THANKS!

We will be accepting donations of all kinds up to October 13, 2009.

One thing I realized in the course of my mission is that one needs to review their plans every now and then.  I mean, goals adjust according to need.  Originally, I thought I’d start buying a house by 2010, well at the rate things are going, it looks like I’ll have to push back another 2 years.  I’m a bit disappointed but I guess this is still how the natural course of things goes.

Like any business, making or saving money must be examined with utmost detail and precision.  Here is my personal assessment of how I should have (and will do, moving forward) monitored my goal.

1. Revisit your goals to determine feasibility every 6 months. — I didn’t do anything like that till today!  I’m sure it will be useful in the sense that you keep everything real.
2. Make a list of your monetary assets and determine what could be reassigned to other functions depending on immediate need.  Try not to touch your personal savings, use the movable income!

3. Ensure that you still keep to your main goals, try your best not to sacrifice any goals unless there are monumental changes that have happened in your life that will clearly impact your spending/saving.

4. If any extra income comes your way, you can even add new goals or adjust time lines in case you are able to acquire money faster.

The key is to always plan ahead without suffering through the process.  Remember to reward yourself within the right margins.  Remind yourself that it is you who will benefit from all the planning and saving you are doing as early as now.

The fourth step in financial freedom is the allocation of monetary assets.  This should be in your planning and must be implemented once you have reached your financial goal.  I will definitely discuss this further in my next post.

Recession?  We normal people won’t get affected by that!  It’s a problem for rich people!

I am surprised at how uninformed (or in denial) many people are when it comes to the ongoing recession in the USA.  Of course, analysts are saying that the market is picking up and getting better but you see, try not to get your hopes us too high!  25 years of making financial mistakes won’t be repaired in a year…thankfully, it won’t take another 25 years as well.  Give or take 5 years and hopefully, the economy experiences a full turnaround in favor of the consumer.

In the US, people are spending less to battle the economic situation.   They taking steps to ensure financial stability on an individual level.  Just because the recession has made a direct hit on the US market, doesn’t mean that we are not affected.

For the call center and BPO industry, it could go up or down.  US based clients may outsource more given the tight budget they currently have or may close down some business which may result to outsourced projects being canceled.  I myself have heard of a number of small business BPOs that have shut down Philippine operations because of account/client cancellation.  So you see, no matter how far away the US is from us, we are also directly affected by the economic crisis.

The US economic situation affects everyone involved in global business no matter how big or small…from the owner of the business down to the laborer.  this is a reality that many people are not accepting and non-acceptance leads to being complacent and carelessness.

Even when one is seemingly unaffected by the economic crisis, it is always advisable to be ready for any financial emergency.  Fuel prices are rising again (it just went up by 2 pesos) and normally, consumer good prices would rise as well.  Services will also become less cost efficient and many people will have to exert extra effort to maintain their lifestyles.

Beating the recession is not an easy lifestyle change but IT CAN BE DONE.

Many of things I’ve written in my blog lead basically to achieving financial freedom.  Now it takes on another role, gaining financial security amd preparedness.

1. Don’t cut down on savings, cut down on spending.  Prices have gone up but I still manage  to save the same amount of money I used to save even before the recession hit.  Remember, savings first before spending!
2. Cut down on leisurely activities or downgrade.  Instead of eating out 3 times a week, reduce it to once…etc.

3. Plan for meals at home and packed meals to save on food bills.

4. Unplug electrical appliances when not in use.  Put your airconditioner on timer settings if you must use it when you go to bed.  It saves on electric bills.

5. Try your best to reduce habits like smoking and alcohol.  These are expensive habits that could cost you a lot of money lost in the long run, not to mention they’re quite unhealthy as well.

6. Don’t invest your heard-earned money in get rich quick schemes, you may just lose it!  (Been there, done that and learned!)

7. If you are in debt, start getting out of it NOW.  Try these tips on becoming DEBT FREE.

If all of make a conscious effort to battle the recession by cutting down on spending without cutting it out  completely (which is impossible and if done, the market will definitely crash!), it would be easier for us to prepare for many financial emergenciesthat could affect our way of life.

Medical insurance has helped me a lot in the past years.  Since I work in a high pressure type of environment with abnormal sleep hours, there were times when my asthma would bother me and I would have to go see a doctor.  I even got hospitalized before and I am thankful that I only paid P198…the bill was actually about 35k– but of course, the insurance covered it all.

Now that I am employed, my company takes care of my health insurance.  when I was a kid though, my parents bought insurance for us and it really went a long way.  Visits to the ER, dental appointments and even some procedures were done without us having to pay for much.

The advantage of  having health and accident insurance is really big and unfortunately will only be realized by a person when an emergency happens.  Of course, you need to pick a really good insurance provider. One that will really fit your needs.

I’m happy with my current provider, even my dad has been able to use the policy since he is one of my dependents.  I’m also able to help my brother, he’s the other dependent and is apparently only two years old! Kids nowadays get sick of one thing or another and the coverage is really useful for him.

My insurance provider requirement checklist:

1. Covers long term conditions developed after buying the insurance.

2. Covers pre-existing illnesses.

3. Flexible payment terms.

4. Allows for adding dependents.

5. Covers a wide geographical area (great for frequent travelers)

6. The office is easy to contact specially when it’s an emergency case.  (One provider I had before even uses swipe card technology, so that hospitals don’t need to call to verify the card details).

7. Is accepted in many quality hospitals.

8. Covers out-patient  medication (This is rare, even my provider doesn’t do this.)

9. Covers testing procedures (An MRI is very expensive!  Covering it would save you 8k)

When you get a medical insurance provider, ask questions before you sign. Compare with other providers and find the one that will suite your lifestyle.  Make a list of possible concerns you might encounter and ask the provider about how they handle these situations.  Don’t scrimp on this investment, you’ll never know when you’ll need to use it.  You could save a lot of money on trips to the ER or regular check-ups.

Part of saving money is also preserving your health.  Health is wealth and if we stay healthy, we have the capacity to earn more.  An investment in health insurance can go a long way.

I work for a company that has paid out bonuses both in the middle and at the end of the year.  They basically split the 13th month bonus (a mandatory gov’t benefit) in half.  The first half is given to the employee at the end of May, so that employees with kids could pay for enrollment and other school fees.  The other half is given on the first payday of December just in time for Christmas shopping.
For people who don’t understand our salary structure here in the Philippines, it’s basically this:

1. 13 month pay - required by the government.  If an employee separates from a company before the year is over, he still gets the pro-rated value of this bonus.  It’s normally factored into a salary as more of a forced-savings kind of thing.  This bonus is non-taxable up to 30k pesos.  Beyond 30k is taxed.
2. 15th and 30th paydays - most companies schedule paydays twice a month.  it’s normally the 15th and 30th of each month.  Other companies have it on the 20th and 5th of each month and others have their own schedules.  This is designed to help people budget their money for 15 days til the next payday comes.
3. Additional bonuses - are really up to the company.  Some companies give a 14th-16th month bonus, quarterly bonus or mid-year bonus.  This is usually dependent on the financial standing and performance/productivity of the company.  It’s not mandated by law so it could be cancelled by the company at any time.

So how do you normally spend your bonus?  Since you’d already know at what time of the year it’s coming, it’s always wise to plot your spending in a chart or list so that you could maximize the benefit of the bonus.

Many people don’t have a plan, that’s why they end up spending all of their bonus without having a chance to save any of it.

Ever since I started becoming financially conscious, I’ve decided to always have a plan of sorts for any money that comes in on top of my current salary.  Even if I am fully aware that my bonus is coming, I still treat it as “extra income”.

My advantage really is that I don’t anyone to send to school.  And the tendency of people like me is basically to buy the newest electronic toy in the market.  As long as you have planned to put your money there, no problem.  Just make sure you are prepared for any other spending you might have to do.

Stick to the essentials before rewarding yourself with a big ticket item.  What do you need now?  Do you need to repair your car or home?  Make a list of what you need to spend on and what you want to spend on.  That way,  you could prioritize.

Guide questions:

1. How much of this bonus should I put into savings? (I’d say answer this first before splurging on anything else.)
2. How much should I use to pay for my debt? (Credit card, loans…etc.)
3. Do I need money for my car or my house? (Unless you have established a separate fund for this, you need to ask yourself that question)
4. Do I have enough to invest in a business?
5. Do I have enough for my kids’/siblings’ school tuition and other fees?

and finally…

What can I reward myself with this money when I’m done allocating it to what I need?

Prioritize your spending specially when you come into a big amount of money.  This way, you will maximize the use of the most important employee you have in your life…MONEY.

Money doesn’t complain…doesn’t charge overtime…doesn’t take breaks and does all the work for you for as long as the price is right.  Make your best employee, money– work for your benefit.

I  always thought it was very simple.   I fell into the trap of thinking that I was only saving for one purpose: retirement.

What are we saving for?  What are those rainy days?  Today I’m going to try my best to detail what those are so that we aware of the “more than one thing” we need to save for aside from our retirement.

The Essentials:

1. Retirement: Everyone knows we need to save for this.  When we get old are are no longer able to work, it would be best to have enough money to spend until the end of our days.
2. Medical Emergencies: If you don’t have medical insurance, it’s time to invest in that as well as set up an emergency medical fund.  It helped that my partner and I had medical insurance and savings specially when we both got very sick at the same time.  We were unable to report for work and were confined to stay at home.  One of our bank accounts dedicated to medical and household expenses surely helped us along the way.  My medical insurance did not cover medication if I stayed at home so we had to spend on that using our emergency fund.  Soon though, we will separate the emergency fund from the other funds to make sure we know exactly how much we have to spare in case of any medical emergencies.
3. Household Maintenance:  Our homes depreciate too.  Every time you need to spend for repairs, it is wise to take it our of a fund that is meant for just that. This has been very useful especially during times after heavy rains or floods.
4. Automobile Maintenance:  Owning a car is like owning a small house.  It is important to spend some money on it’s maintenance so that it’s always in tip top condition.  Cars will last longer if maintained on a regular basis following it’s maintenance schedule.
5. Family Emergencies: If you need to help a family member during a financial crisis, this is a good fund to set up.  Remember, sharing our blessings attracts good karma!
6. Unemployment or Economic Crises: Be prepared for anything and everything related to losing your current job or source of income.  Put away as much money as you can and make sure you have at least a buffer fund that will support your lifestyle for at least 3 months if you are put out of work or if your business does not pan out well.  You will have 3 months to find another source of income and at the same time live comfortably.

The Extras: (rewards when we have some extra money)

1. Travel
2. Sports & Hobbies
3. Other Entertainment

It’s always wise to be prepared for emergencies as well as occassionally reward ourselves when things are going great.  This system also prevents you from over spending on the “Extras” and focusing on the “Essentials.”

There used to be a whole lot of books on personal finance but all of them were written mostly for other countries.  Of coure the basics will always be the basics but what’s nice about local publications is that there are local scenarios being discussed.  So, in short, I CAN RELATE better to local books in terms of managing finances.

I found a book which I eventually bought after browsing through the pages every time I was in National Bookstore.  Every week, I would pick it up and take a look at it to see if it was worth the buy.

Book Details:

Title: 12 Steps to Build Wealth on Any Income
Author: Alvin T. Tabanag
Peso: 300+ (sorry, i took the price tag off)
Availability: National Bookstore
Rating: 4/5

———

Review:

Alvin Tabanag’s book deals with the hazards of spending, the joys of saving and the struggle one must go through in the process of balancing ones earnings with his finances.  I am impressed at how much research as well as common sense went into the creation of the book.  He tackles several topics which include:  how to save, making the right investments, saving for retirement, understanding how money grows in a bank, and a great section on credit cards.

The book is written primarily in English but has some excerpts and examples in Filipino.  You don’t have to be an accountant or finance-savvy to understand his book.  He explains personal finance in layman’s terms making the book an easy and very interesting read.
I most especially enjoyed the section on templates where he shares some simple forms on budgeting.  There is also a section with a list of banks, mlm companies, mutual fund companies and other options for investment.

Soon, I will share some of his tips and how those tips have impacted my saving and spending habits.  I highly recommend this book.  So far, I have influenced 3 people into making the investment of buying the book.  It has been a month and they are happy customers!

My family once owned a large scale dimsum business.  This was closed in the 1980’s to give way to a new venture (which eventually failed).  I am determined to revive a part of that dimsum business to see if it can still survive despite the times.  Some of my family is trying to do their version but the problem is, they’ re not doing so well in terms of pricing and really providing great value to customers.  I intend to change that.  So, i’m doing my own thing.  Some of you guys, if you’re in Makati tomorrow will see me delivering dimsum samples to the steel “jolly jeeps” in Legaspi Village.  Wish me luck!!

***

In other news, I have officially wiped out my credit card debt!  This gives me an extra 5k per month to put in the bank!

Once upon a time, there were two bunnies, a big bunny and a little bunny who lived in a tiny burrow at the edge of a big cabbage patch. Everyday, both bunnies worked very hard to harvest and sell cabbages in the bunny marketplace at the forest clearing. The big bunny’s job was to harvest the cabbages at night, while the little bunny would hop into a cart to take the cabbages to the market every morning at the break of dawn.

One day, the big bunny got sick and wasn’t able to harvest cabbages. The little bunny harvested and sold the cabbages and became very very tired that she fell sick too.

The bunnies were sick for 3 days, and their food supply was running out but they managed to get better. They realized that the cabbage patch was way too difficult to manage on their own. They worked too hard for too little. During the weekend, the bunnies hopped into the forest to explore new places. Little bunny hopped so high and so fast that she ran into a big bush! Big bunny came after her and saw her sitting among beautiful red berries.

Little bunny was so adventurous that she ate a few berries. Big bunny was worried that they might be poisonous. Hours went by and the little bunny was still fine. The bunnies discovered that the yummy berries were safe to eat. So the big bunny took a bunch and sold it in the market.

No one had ever seen big red berries before! They were so yummy that they sold like wildfire! The bunnies called the berries, Wundleberries!

Soon, everyone had heard of the wonderful wundleberries sold by the big and little bunny. Soon, the two bunnies made a fortune and did not have to work in the cabbage patch again.

The End.

——————————-

So I’m going through some turbulent times now. I’m at the brink of going nuts at work but I am still holding on.  Looks like I’m not inheriting the family business. As usual, someone went back on his word and the business is now stuck with some who, I dunno…seems to be running it into the ground. How in the world does this person expect the business to be big if it’s not even registered yet to issue receipts? Business basics? It doesn’t even have a permit to operate in the city it’s operating in. DTI? Where?

It may sound really mean but I’ve decided to put up my own business of a similar nature. It’s falling into place for me right now, the signs are there. The business is a dimsum thing. The cook/baker that worked for my family has resigned and is now asking if I want to hire him. Sure I do! The guy’s a jewel!
I just made a call to one of my good friends and shared a business idea with her.  We’re doing food carts, dimsum food carts.  I can guarantee the production of the food items, we’ll just need a solid plan.  So, we’re meeting on Sunday afternoon to discuss plans for our business.  It will entails an investment but hey, you gotta give some up to get some i, right?  Wish me luck!  This may be my Wundleberry!