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What are the benefits of carpooling?

A statement that had a lot of commuters and drivers losing their cool is when Transportation Secretary Arthur Tugade said the traffic in the metro is just a byproduct of Filipinos’ ‘state of mind’. While the number coding scheme is widely adapted (and confusing in certain areas), it creates the second problem of people buying second cars to allow them to get around when their cars are affected. A solution that some people are aware of that has quite a number of interesting side-effects, is carpooling. Generally, carpooling is an arrangement between several people to take a single car to a common destination. In other countries, people do this especially when they all happen to work in the same office and live within the same general area. It’s a transportation solution and it can save you …

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Which flood-prone areas in Metro Manila should you avoid?

By Miggy Castaneda The rainy season is here, and with it comes the hassles of commuting. During the months of wet weather, people will experience more train breakdowns, more traffic jams, and worst of all, flooded roads. Traffic in Manila is in its worst form during and after rush-hour rain as it equates to floods in some areas of the Metro. Flooding doesn’t only make the traffic bad; it can damage your car, and in worst-case scenarios, make it unusable. This was something experienced by car owners during Ondoy a few years ago. Flood-prone areas are especially treacherous due to disrepair in some roads, making it even more difficult to navigate. But where are these flood-prone areas in Metro Manila, and how do you navigate around them?   Roads to avoid For those of you living …

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How much will you get from the SSS when you retire?

If you aren’t already trying to put away money to invest or increase your retirement savings, you should get started. The truth is, your SSS Retirement Benefits will be enough to cover your needs for retirement so you shouldn't solely rely on it to fund your retirement. Former SSS Chief Vitaliano Nañagas once mentioned that the SSS may run out of funds by 2065, way before you can retire, so you should be securing your own future right now. How much will you get from the SSS when you retire? Here's what you need to know: WHAT ARE THE TYPES OF COVERAGES? There are two types of coverage under the Social Security Program: Compulsory and Voluntary. The Compulsory program applies to employers, employees, and self-employed people. The Voluntary program applies to OFWs, non-working …

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No credit card? No problem!

Online shopping is a real convenience. You no longer have to meander from store to store looking for the perfect clothes, or anything else for that matter. While some may say that shopping online decreases the amount of human interaction you get, it’s just so much easier to order everything online and save yourself the trip (and having to contend with traffic). The one real issue most people might have with shopping online is that for a lot of outlets, a credit card is necessary. But if you’d rather not take one on just to shop online, here are a few ways that you can shop online without a credit card. PREPAID CARDS These are credit cards that you can only use when there’s balance in them, so they’re really more like debit …

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Are you financially ready to get married?

  Entering marriage will bring drastic changes in one’s financial life.  It’s not just about the wedding but the days, months and years after. How will you be able to survive after the lavish wedding ceremonies? Aside from wedding preparations, other expenses that need taking care of are educational plans for your future children, health insurance, and retirement. Here are some money-saving tips before you say ‘I do’: PLAN AHEAD There will be a major financial change in your life from the day you marry your better half. You and your fiancé should talk about and be open about your financial plans together because from now on, you will deal with a lot of financial decisions that will need consensus. Take your time on acquiring more assets while you're still single because you have few …

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Shopping and dining discounts for Father’s day

There’s no doubt Filipinos love to spend time in malls, which is why 3 out of the 10 biggest malls in the world are in the Philippines. These are SM City North EDSA, SM Megamall, and SM City Seaside Cebu.  In SM Megamall, the average daily foot traffic is 800,000 people, and during the weekends, malls all over the Philippines are packed with friends and families hanging out, be it watching a movie or eating out for family bonding time. Especially during the holidays and special occasions, there’s bound to be sales and promos in various stores with Father’s Day just around the corner. For today’s Deals of the Week, here are shopping and dining discounts for Father’s Day: DINING Spend the weekend bonding with your whole family with Security Bank’s numerous dining …

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Seven saving and investing tips for night-shift BPO employees

By Bea Bongat  Aside from working the graveyard shift and during holidays, most Business Process Outsourcing (BPO) employees rarely have any surplus money. Their basic salary is just sufficient to sustain the basic needs of their families, unless they perform exceptionally and are given bonuses. Add to that the stress of working in a performance-driven environment, and they spend for relief to compensate. If you’re a BPO employee and find yourself scrimping pesos or borrowing money until payday, here are 7 saving and investing tips for BPO employees: GO TO WORK EARLIER, THEN SLEEP The working hours of a BPO employee are draining. You take a taxi at night to stay safe and take another one in the morning because you’re too tired to take public transport. Save on taxi fees by going to work earlier …

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Watch out for these 5 budget killers

By Kristel Silang  Most Filipinos have days when they just exclaim, “Hindi ko alam kung san na napunta ang pera ko.” (I don’t know where my money went.) Most of Filipinos are used to saving and budgeting for the big purchases so that they can afford it. Some do not track their budgets and wonder where these “mystery spending” are coming from, as stated by 21% of the survey respondents of “Enhancing Financial Capability and Inclusion in the Philippines - A Demand-side Assessment” by the World Bank in partnership with the Central Bank of the Philippines. They wonder where their money went because of unnecessary expenses which are untracked. Here’s a look at five of those seemingly small expenses that can ruin your budget. ADDITIONAL CHARGES DUES TO LATE PAYMENTS Interest rates of credit cards may …

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How to avoid lifestyle inflation for fresh graduates

By Carlo Miguel Castaneda There’s something extremely satisfying about finally getting your very first paycheck from your very first job. There’s this distinct feeling of euphoria and elation that grips you and makes you want to spoil yourself. It’s easier for a fresh-out-of-the-university person to fall into the trap of lifestyle inflation. It’s also easier for the same age bracket to manage their money, especially with all of the tech and the apps to help track expenses or plan a budget according to a specific goal. Experts like Jean Folger have attributed the phenomenon of lifestyle inflation with a need to keep up with the latest trends. They also state that while it is an eventuality as your pay grade goes up, it doesn’t mean you can’t avoid the worst of it. With …

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Pros and cons of buying car parts online in the Philippines

By Bea Bongat Car repairs can take a big chunk off one’s budget. Some people tend to forego routine maintenance checks and wait until the car breaks down before they send it to the shop. Maintaining and repairing a car is costly, so people take the corrective rather than the preventive approach when it’s supposed to be the other way around; however, with a few hacks, you can shave pesos off your bill. One way to decrease expenses on car servicing is to buy the car parts yourself to avoid mark-ups by buying directly from the shop. Even more and with the surge of technological innovation, you can even shop for car parts online. This further trims down your expenses and comes with additional benefits. As with anything, shopping car parts online comes with …

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