Pinoy Frugal Living

The Lowdown on Holiday Shopping

Alma — Wed, 10 Dec 2014 16:01:19 +0000

Holiday shopping could turn ugly- Fact.

After a long hibernation from holiday shopping, I have become more or less immune by the pressures of having to shop for Christmas. By studying human behavior and understanding the need to spend during the holidays and closer scrutiny on my own thoughts while keeping an eye on my bank statement, I have decided to think and reconsider shopping especially during the holidays.

Just because you have received any bonus does not necessary imply you have to bust your wallet. Ofcourse having children and realizing that yes, there are certain traditions that we have to follow as family. However, I have decided years ago that shopping and excessively eating during the holidays is just unreasonable and hardly rational.

Why do you think credit card companies offer no interest offerings during the holidays? It is to give you the impression that yes, it is ok to indulge and shop. But do you still feel the same way a month and two after the holiday? Why put yourself into so much hardship paying for items you probably do not need in the first place?

Enjoying the tradition of giftgiving is fine provided it is no pissing contest. I have been known to be generous, but holiday gift giving does not have to be stressful and filled with pressure. I have always made a tradition of buying clothes for my children during the holidays. Why? Because the malls offer so many discounts to lure customers like you and I. The only difference probably with me is I have always made a point to buy in one go and have vowed to go with my list and budget.

Before you leave the house for the mall, make sure you do the following:

1- make a list of the gifts that you intended to purchase.
2- allocate a budget for each gift and
3- never buy anything not on the list

Simple.

And oh,

4- never use credit
5- leave the credit card at home
6- never go off the budget or you are screwed.

10 Steps to Maintaining Personal Finance in College

Alma — Mon, 07 Jul 2014 23:57:47 +0000

College is a time when one can finally be freed from the oppression of our parents, or at least distanced from it. It’s a time for trying new things and discovering one’s identity. Along this road comes certain responsibilities that some are prepared for, and some are not. One such responsibility that many of us struggle with is that of being financially independent.

It’s as if opening a bank account as a college student comes standard with a hole at the bottom. So that as soon as you deposit any amount of cash in, it’s coming out the other end. What I have here are 10 steps that will not make you the most financially responsible and stable student on campus; however, they will definitely help towards that effort.

1. Put your card away!

Having a credit or debit card has this mystical feeling that your bank account is always in a safe green zone. There is a lack of urgency and caution when you can’t physically see the amount of money you hold.

2. Carry cash.

On top of putting your card away, start carrying cash. In the same thought, having a clear limit to what you can afford with your cash will actually force you to be financially conscience. The fact that it will often require you to track down an ATM to withdraw cash will also prove to be beneficial towards your spending.

3. Find a job.

It’s simple, if you have more money coming in than out, then you’re in the green. Many college campuses have a plethora of available part-time jobs. If you search around your college website, shoot some emails, and make some calls, you will more likely than not be able to find an easy-going job with limited time-demand. Most departments on campus require students to man the phones and front desks, and these are usually widely available and easy to work.

4. Record your expenses.

Create an excel sheet and begin to record your expenses. By the end of the month, you will no longer be left saying, “What the heck happened to all my money.” Instead, you’ll be able to see exactly what happened to all your money, and what superfluous costs you may need to cut out for the following month.

5. Visual reminder of debt.

Similar to recording your expenses, create a physical visual reminder displayed somewhere you will often see. You might feel uncomfortable with showing your financially ineptitude, but this will work positively, as it will make you want to keep the number low or at zero. Means of display can include a pinned up whiteboard or corkboard.

6. Use your meal plan.

One of the largest expenses in college is food. Many colleges don’t have the best dining halls, but seeing how meal plan is often already calculated into tuition, room and board, it is wise to make use it thoroughly. As mundane as the dining hall can be, look for ways to creatively combine dishes to break up the repetition of your meals!

7. Textbooks.

Another huge college expense are textbooks. Every semester, the cost of new textbooks can run as high as $1,000. The first recommendation I have towards reducing textbook expenses is to utilize your social group. You won’t always have overlapping classes with friends and peers, but by the chance that you do, ask them if they still have their textbooks and if they would be willing to lend, rent, or sell it to you at a discounted price. The other two recommendations I have would be to buy books used which will be far cheaper than they would be new, or purchase older editions, textbooks’ release editions quite liberally and the changes between the editions are often marginal.

8. Share the Burden

If you’re like me, you’re often taking the lead for planning events or paying for dinners, as everyone promises to transfer their portion of the meal over. Don’t feel obligated to do such, more often than not, even if everyone decides to pay you back, you’re going to lose a few dollars here and there that seem to just mysteriously float off. Splitting costs is a large burden that haunts many college students, especially when a group of friends are going out to dinner or throwing a party. Take the extra time to evenly distribute costs, and don’t put in any more money into the pot than necessary.

9. Look for freebies

College fun doesn’t always have to come with a price. Many college towns and campuses offer more than enough activities and opportunities to explore the city and have fun on campus for little to no cost. Look into these programs by asking a resident director or by visiting the student programs office, you will be surprised at the variety of things that your university has to offer.

10. Stay off the web

One of the largest trends that is afflicting many college students and consequently their wallets, is online shopping. When one is dozing off in a 300-person lecture class, it’s easy to just decide to surf the web a bit, but when one thing leads to another, by the end of the class you’ve just spent $200 on J Crew’s latest styles. Begin to foster self-discipline when it comes to online shopping, whether that means blocking the websites for several hours in a day or removing your credit card information from your online accounts. Online shopping is infectious and addictive.

These are a few tips I have applied to my very own life as an undergraduate student, and I have seen real results from them. I like to consider myself fairly financially responsible, and I am definitely able to retain a paycheck for far longer than two weeks. As I stated, these steps won’t make you a savings and budgeting Hercules, but they will guide you in the right direction.

Austin Hong was raised in Los Angeles, California before attending Boston College, where he studies Finance. Currently he is working for a legal management consulting firm in the Beacon Hill area of Boston, MA.

What You Need To Know About Financial Inclusion

Alma — Tue, 11 Jun 2013 00:46:56 +0000

Many forces around the world affect people and how they live. Some of these systems are for the better, while some make life harder. When there is a system in place to help people, these previously downtrodden individuals are generally thankful for the positives, as it gives hope to the unnoticed and forgotten. In this economy, a financial system that brings joy to others may seem like a joke or a far-off wish, but good news: This system already exists. Here are some fast facts on financial inclusion that every business buff should know about!

What is Financial Inclusion?
In simple terms, financial inclusion is the delivering of financial services at affordable rates to different parts of disadvantaged areas of society. This deliverance gives an individual, group, or household access to the correct financial items and services. Normally, when people do not have this ability, they are considered financially excluded. Unfortunately, there are billions of people fall into this category. In India, only about 40 percent of citizens have bank accounts, and only 10 percent actually have life insurance. In this day and age, staggering statistics like that may not be hard to believe, but you can be sure that there are different companies working around the clock to change this drastic number.

Why Should You Care?
Financial inclusion is important because it is difficult to achieve anything without it. Just imagine what life would be like without these types of services—we would not be able to acquire a home mortgage, have a checking account, or even save and plan for college. Even the simple act of managing your money day to day would be stressful without this system in place. Without financial inclusion in our lives, our basic dreams would be diminished.

What Else Do I Need to Know?
While financial inclusion can have drawbacks (everyone is looking to make a profit these days), there are definitely more positive elements to consider than negative. More low-income and impoverished individuals are getting help, and having the access to this type of knowledge will empower them. Shouldn’t everyone at least have the opportunity to provide for themselves and their families?

If you’re a business owner looking to get into the world of financial inclusion, be sure to do your homework first. Talk to your CFO and accountant and also be 100% sure to talk to your tax accountants, because you might get some of your good will to work in your favor at the end of the year.

Marta Delgado writes about finance and business. Her recent work is about earning an accounting degree online.

The Ins and Outs of Structured Finance

Alma — Tue, 11 Jun 2013 00:43:37 +0000

When we speak about structured finance, we are dealing with the study of techniques that are needed to economically assess the feasibility to invest in new business projects. The goal of the investment analysis is to enable the business professional to determine if their business ideas will create a value for the shareholders as well as their business!

Business Loans

When a business needs to obtain a business loan, there will be various options for them. In many circumstances, a standard loan won’t be suitable for them, and structured finance could be the best way to go. A structured finance loan is approved based on how well the company has done in the past. If the performance has been good, they will likely be approved for the loan. This also means that the business won’t have to put up collateral as they might have to for another type of loan. As long as the business can prove they had good cash flow in their past, this will secure their loan. The past cash flow history has to be strong and consistent enough to convince the lender that the borrower can in fact make the payments on the loan now and in the future.

Leasebacks

Even companies who are strong can experience times when things go bad. Times like these can wipe a company out of their spare cash and leave them stranded in a bad position. In these circumstances, an injection of cash may be needed to continue. This could be done through a leaseback, but this is also a great time for structured finance. Trying to convince banks and lenders to give money out when the business is struggling may be tough. Investors are normally much more understanding. For companies who made bad decisions on investments, they can pay off their debts with structured finance. This will allow the business to pay back less money over the long term.

A Business Lifeline

With the economy in the state it’s in, many companies are struggling to stay above water. However, if not for structured finance, many of these business would have gone under long ago. Banks and other loaning companies are extremely cautious to lend money today. Unless companies have a lot of collateral to offer, they may have a tough time getting a loan from anyone. Investors who offer structured financing are willing to take the risk. They believe that if the company can produce a cash flow, they’ll be able to pay the loan back.

Times have been very challenging for many businesses today, but as you can see, structured finance can be the very thing that a company in trouble needs in order to stay afloat, because it can give your business hope for a better future Really, structured finance is an option that all businesses should take a second look at before giving up.

Silkia Veras writes about finance and economics. Her most well known work is on how to become an actuary.

Frugal Ways to Pamper Your Feet

Alma — Mon, 14 Jan 2013 11:52:24 +0000

Pampering doesn’t have to break the bank. Though most people put self-care at the end of their to-do list, keeping yourself healthy and happy can help to improve the other elements of your life. One of the easiest ways to care for you is to care for the feet—but a spa pedicure isn’t always in the budget.

This doesn’t mean you have to skip on pampering your feet though; there are many other ways that you can pamper the feet that are budget friendly too.

Shop Daily Deal Websites

Are you looking for a spa experience without paying the spa prices? Shopping through the website deals that offer new deals everyday can leave you with spa pedicures at up to 80% off of the regular cost. Shop these deal vouchers, print it and bring it along with you to get pampered on a budget. Be sure to read the reviews of the spa, or choose a spa you are familiar with to get the best experience.

DIY Foot Scrubs

There are many recipes for foot scrubs that can be applied to the feet at-home. You can use products like sugar and essential oils to create a scrub that is going to increase blood flow, soothe the feet and help to exfoliate and remove the dead skin. Follow this up with a soak in an at-home foot bath, and you will feel like you just left the spa, without the hole in your wallet.

Buy Inexpensive Pampering Tools

There are many pampering tools that can be purchased at your local drug store and many of them for fewer than $5. Choose pampering tools like pumice stones and high quality clippers to care for the feet and nails. A simple exfoliating glove combined with an at-home sugar scrub can be a great way to energize the feet after a long day.

Indulge in Nail Polish

One of the most exciting parts of going to the nail salon is to try out the new polish colors that are available. You don’t have to go to the salon to get the latest trend on your toes though. Consider a visit to the drug store and picking up some store-brand nail polish at a fraction of the price of the designer stuff. You can get the latest trends on your toes, without paying the designer prices. Plus, since it’s inexpensive, you can pick a few colors for the season.

Pampering the feet can energize the way you feel about yourself, and help to create some “me-time” for you. Use these tips to save while pampering at-home.

Sarah Del Rosario is a professional writer and currently collaborates with Altrazerodrop . Visit our website to know more about running shoes.

Ways to Eat on a Frugal Budget

Alma — Thu, 03 Jan 2013 12:30:52 +0000

Bacon wrapped sirloin with a side of lobster can get most people’s mouths watering. Unfortunately, a meal of that caliber can cost quite a bit to make. However, that doesn’t mean you can’t indulge yourself once a week by cutting costs during the other six nights. There are several meals you can make throughout the week the help you save for a delicious treat later on.

Macaroni and Burger

– Macaroni and cheese is one of the cheapest meals you can buy. Depending on your area, each box can feed three to four people realistically and costs about a dollar to make. However, you can add health value and content to your meal buy adding some burger into the mix. With the burger added, it costs around one dollar or less per person to eat.

Casserole

– Another cheap pasta staple is a beef casserole. This can also be delicious with tuna fish. Mixing egg noodles, cream of mushroom soup, and ground burger, you get a filling meal that can feed a family for a total less than six dollars on average. Depending on the preparation, you could even have left-overs for lunch the next day.

Chicken Garlic Pasta

– Although you may want to buy a big bag of chicken for less than $10, it should create quite a few meals. With two or three chicken breasts, three boxes of garden rotini noodles, a large can of garlic and basil diced tomatoes, and 2/3 bottle of garlic and herb marinade, you can make a dish that is good hot or cold. Together, this makes a large pot of food able to feed a family of five with left-overs for later. Together, it costs approximately seven dollars in various materials.

Tuna Melts

– With a loaf of bread, cheap sliced cheese, two cans of tuna fish, and cheap mayonnaise, you can feed a large family. In total, tuna melts can cost less than a dollar per person to eat and gives you a sense of healthy eating with tuna and cheese.

Burger and Ramen

– Putting burger, beef flavored ramen noodles, and shredded cheese together makes for a meal that is better than it sounds. This is a meal that could cost less than a dollar per person to make and can leave you fulfilled.

By saving money on six nights worth of dinners, you can budget an appetizing meal for the seventh. However, you can make simple meals in general simply to save money on food costs. Just be careful on the foods you eat and try to monitor how much of the unhealthy stuff you are consuming. It may be cheap, but it could have detrimental effects later on.

Author Bio:

Paul and his wife Julie both spend quite a bit of time coming up with ideas, blogging, and researching all things related to childcare through “ babysittingjobs.com”.

5 Ways to Cut Back on Spending and Save Money

Alma — Wed, 10 Oct 2012 10:56:24 +0000

It’s hard enough trying to manage your finances, and when you throw in battling paying off a debt on top of that things can get even trickier. However just because you’re trying to spend less doesn’t mean you have to live in a total state of deprivation. There are some easy ways you can cut back on spending and save some money without sacrificing too much:

1. Browse your local grocery advertisements

Obviously you can’t eliminate your grocery bill… but you can cut it down in size. You can save a pretty penny by shopping the advertisements and figuring out which store is featuring sales on items you were already going to purchase. It may take an extra 15 minutes of your time, but those 15 minutes are nothing compared to how much money you’ll save in the end.

2. Sign up for websites that give back

There are certain websites like Ebates that reward you for shopping at certain stores online by offering a percentage back of what you spent. This can end up saving you tons of money at places you’re already going to be spending money at, and the money is sent to you at least four times a year, if not more.

3. Start brown-bagging it

You may not realize how much money you end up spending on going out to lunch every day, but even those $1 menu items stack up quickly. So instead of going out to lunch, bring a sack lunch with you. Not only will it be good for your wallet, it’ll also be good for your waistline!

4. Recycle

The next time you’re about to toss those soda cans throw them into a bag for recycling instead. There are plenty of places that will pay you for your aluminum cans based on the weight of the cans and the current price for aluminum. It may not seem like a lot of money, but if you keep it in a jar, over time that extra money will add up!

5. Hang your clothes to dry

Using the dryer takes a lot of unnecessary energy! Not only will your clothes get that fresh smell from line-drying outside, but you’ll put a huge dent in your gas or electric bill. Plus your clothes will last longer from not tumbling around in the dryer so often, helping you save money on new clothes too!

Cutting back on spending and saving money doesn’t have to be a huge chore, and when it’s done right you won’t even miss some of the things you were spending money on before. Plus, if you put aside the money that you’re saving each month you can eventually use it to pay off a chunk of your debt sooner than you would have been able to otherwise.

Author Bio:

Jason Miner an expert freelance writer loves writing articles on different categories. He is approaching different bloggers to recognize each other’s efforts through www.blogcarnival.com. He can be contacted through e-mail at jasonminer8atgmaildotcom.

8 Ways to Stay Motivated When Working Out Of the Home

Alma — Mon, 08 Oct 2012 16:44:36 +0000

Is your out-of-the home job starting to get boring? Read the following tips to keep you motivated all over again:

1. Be Grateful

Some people lose their motivation to work because they keep on thinking about those things that they do not like about their job. Once you sense yourself getting bored with your current job, think of all those millions of people who are unemployed. This way, you will start seeing yourself as someone who is very lucky to have a job.

2. Don’t Be a Negative Thinker

What if my boss doesn’t like my work? What if my colleagues are mad at me? What if my clients aren’t satisfied with my work? These thoughts won’t help you. Instead, it will lessen the quality of your work. It would be best if you fill your mind with positive vibes. Always think what is good for you or for the company you work for.

3. Avoid Complication

Always take the easy route. If you can do your job in a much easier way, do it. For example, if you have plenty of spare time, grab that opportunity to finish your job before its deadline. If you have an assignment that is too difficult for you, find a way to simplify it into smaller tasks. If you really find it hard to accomplish a certain workload, try delegating it to your office mates.

4. Set realistic goals.

Sometimes, you may be tempted to stick around your house especially when you have your kids to play with or dozens of DVD movies to watch. This is when you need to have a realistic goal. Then, you must do something each day that will help you achieve your goals.

5. Reward yourself.

When you’ve done something good no matter how trifle it can be, celebrate! It is important to treat yourself every once in a while for doing well at work. This will help you have a mindset that every time you do well at work, you deserve a reward. It is for you to decide how you want to reward yourself.

6. Do not focus on the “here and now”.

There are people, most of them parents who lose motivation to work. It is because they think that they will miss so much on their life when they have to leave their kids every day. But, think about the future. You need to go to work to achieve professional and personal growth for your family to benefit.

7. Find ways to manage stress.

Stress in the workplace can drain your energy as well as your enthusiasm for work. This is why it is important that you look for ways to beat stress. Practice Yoga and other relaxation techniques. Meditate and exercise.

8. Take a break.

Sometimes, all you need is a break from the monotony of your daily routine. Call a friend and have dinner together. Spend time for a weekend getaway. File a few days leave and travel. When you get back to work, you will find yourself excited to accomplish one task after the other again.

Follow these 8 steps to stay motivated while working out of the home. Then, one day you’ll be able to wake up with success knocking in front of your door.

Hannah runs the website Howmuchisit. Her website helps you find the prices on just about anything. Reach out to her on Twitter – @howmuchforit

Preparing for the End of the World

Alma — Wed, 03 Oct 2012 16:40:49 +0000

With the Mayan calendar expiring in a few months and many 2012-end-of-the-world prediction being broadcast and written about, people are asking what they should do. The truth about all of this is that we have been facing major disasters since the beginning of time. Regardless of your religious alignment, there have been people who propagate this ideology as a clear sign that the end of times is near. In all of the hype there are two things that are certain, at some point everything on earth will end, and you will have to deal with a disaster at least once in your life. Preparing for a break in the supply chain is a good idea and can be done on the cheap.

There are a few necessities that every home should have for disasters. Having a small tool kit with things like a hatchet and rope, along with a first aid kit, pocketknife, and compass is essential. Along with these items, you will want to add to it antibiotics and any other medicine that you need on a regular basis. Water purification tablets are a good idea, or a water filtration system and some pure household bleach will also do the trick.

When it comes to food you have many options. There are companies that sell freeze-dried food portioned for family size. This is a great way to go but the cost of doing this can be beyond many families’ budgets, if you do not have the means to buy gourmet meals for the end of the world, don’t fret you have alternatives.

Stock up on canned foods, this can be items like tuna, beans, and vegetables. You will want to make sure that you buy high protein items that are low in sodium and sugars. The idea with survival rations is to give you and your family just enough food to make it through to a time when you have access to a more dependable supply.

You will want to avoid sodium as it can help deplete your body of water, and you will not be able to depend on your water source. Dehydration will kill you much faster than starvation, and our bodies require less food than water to survive. That being said, sodium is one thing that your body needs to survive, if you do not have enough you will die so be sure to keep some salt on hand as well.

Do not stock foods that require refrigeration to maintain their freshness, in a disaster they will spoil, and you will not be able to use them. The best foods to buy on a budget are canned foods and dehydrated foods, these will not last as long as freeze-dried meals but they will remain edible for about two years. Be sure to buy foods that you will eat semi regularly, so that you can rotate out older stock. Rotating your stock will allow you to keep your disaster supplies in optimal readiness without being wasteful.

The last item you will want to store is your grains. Although wheat is an acceptable form of grain, rice might be a better alternative. If stored properly in food storage containers white rice can last up to 30 years. In most cases, regular white rice will last for two years without any special preparations. Just keep it sealed in plastic containers or jars and you will find it a great survival food, on top of that it is filling and provides your body energy.

The last thing that you will want to prepare is the most important, that is water. If a disaster strikes forget about washing clothes and taking baths. The most important thing will be hydrating your body. The average amount of water a human needs to survive is between a half a liter to one liter per day. If you find yourself in a position that has you walking you may need more. As your body sweets to cool yourself you are losing water, if you can’t stay put be sure that you carry enough water to get you to the next water supply. I cannot stress this enough, without water you will die. Always include some form of water purification in your survival kit.

With the end forecasted and global markets hanging in the balance, the 2012-end-of-the-world hype can worry us all. Keep in mind that this is not the first time we were all told this story, and although it may seem like we are headed in that direction, chances are we will continue on for another 10,000 years. What we can be certain of is that in that time we will be faced with many situations that will be devastating. Relying on the food chains that are in place is a bad idea, but being prepared with simple means to purify water and enough canned foods to last a few weeks or months, certainly can’t hurt.

Many people consider the people who are stocking up on food and preparing for the worst to be crazy. Maybe they are, but look at the natural disasters that have happened over the last two years; even if it is not the end of the world, it is still a good idea to be ready. If you are not able to buy gourmet freeze dried meals you can still prepare for an emergency. Buying canned foods and preparing an emergency kit is affordable. You will find peace of mind knowing that your loved ones will survive, and there is nothing crazy about that.

New York Cash Advance- Things That You Should Know

Alma — Sat, 15 Sep 2012 06:31:48 +0000

The cash advance industry in USA is seeing a lot of growth. Ever since its inception, the cash advance business has been filling a niche which is normally left unserved or underserved by banks and bigger lending institutions. Take for instance, the case of an individual who needs a smallish sum of money to cover unforeseen expenses. It might be a sum as small as $50.

Circumstances may have also conspired to give him a bad credit rating or a shortage of time to pay up the sum of money. Perhaps the only option left for such an individual is to approach a cash advance company.

New York cash advance companies promise and deliver instant loans which can be credited into your bank account within one working day. However, the government has banned the industry of cash advance in New York. So in case you are trying to avail a cash advance in the state of New York, you will have to think of alternate ways to get the same. Perhaps the easiest method of getting such a cash advance for a resident of New York State is to travel out to other states that allow such a cash advance. One of the easiest ways to do this is to apply for such a cash advance through the internet. All you have to do is to log onto the company’s website and go through a simple process of application.

Government law states that customers can be charged 25% interest rate by a non- banking company when they apply for a cash advance. You can also approach a company or a lender of cash advances which works in tandem with a well-established banking institution in order to get a cash advance. New York laws also help protect the privacy of clients going in for cash advances. A lender of such a cash advance can be sued for breach of privacy. Such cash advances in New York are anywhere around $500 or smaller amounts too. There is a usury law applicable to loans up to this amount. Normally companies will ask for a PDC or post dated check that will have the loan amount, interest rate and all other charges and fees covered in it.