Month: January 2018

It’s easy to decide whether you should get a personal loan or not. If you are indeed in need, then go for it. However, there are also things which you should look out for in the long run. As with all transactions involving finances, you should be aware of the dos and don’ts, things to avoid when it comes to getting a personal loan. Here are just a few examples:

1. Avoid doing it on impulse.

Ask yourself, do you really need a personal loan? Applying for one and getting approved after is a big commitment. Remember, needs should definitely come before wants. If it isn’t then consider saving up for it instead of applying for a loan. Not only is saving up the less risky, it will also save you from paying tons of interest. It may just delay your desired purchase, but at least you wouldn’t have any interest rates or penalty fees to worry about.

2. Don’t just settle for the first personal loan you find.

Consider all your options. Go for one which will offer a better interest rate or other favorable terms. Learn to look around and compare all of the deals and offers. Surely, no lender would force you to avail their offer the first time, discover more which are out of the usual recommendations and you may just find yourself a great deal.

3. Never lie on a personal loan application.

Honesty is the best policy, dear friends. Lying will never get you anywhere, let alone, increase your chances of an approval. If that isn’t bad enough, did you know that providing false information on your personal loan application can be prosecuted as fraud and may result in jail time? That’s definitely a scary situation to be involved in. Tell your lender the truth and let them decide in the end. Your sincerity may just well be enough the factor that they are looking for in order to approve your application.

With all of that in mind, when you’re hoping to acquire a personal loan, look no further than Cebuana Lhuillier’s Happy Loan, a multi-purpose loan amounting to Php 5,000, Php 10,000, or Php 15,000 offered to any individual who is employed, self-employed, student, or a remittance beneficiary. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time.

So, you finally decide to apply for a business loan. You’re in dire need of funds to startup your small business and are hoping to get approved thereafter. This is all done with great intentions, but  such approval would need a certain amount of preparation, more specifically, the pre-requisite documents. No need to look further, as we had listed a few important ones for you to prepare. Some may vary depending on your chosen lender, so some requirements may be too much than the usual, however, it is always better to have extra documents ready for submission, rather than lack of it thereof:

1.Your background information.

It’s just natural for a lender to want to know more about the person applying for the loan. Let’s just think of it as their own safety measure, as some would really go out of their way to take advantage of careless lenders, and that is something that both major banks and lending establishments would want to avoid. They would very much ask for:

*Any prior names you may have used

*Previous addresses

*Educational and business background

In short, information similar to what you’d fill out on a job application.

2. Your business plan.

What is your business? What are you going to sell? What services are you going to offer? These are details that they would like to know of, and they would be able to see an outline of that through your business plan. If you want to borrow money, you’ll need to show a lender a business plan, especially, if you’re applying for a big amount. Even if you’re asking for a small amount, submitting a business plan implicates that you are sincere and serious about your intention to open up a business.

3. Your financial and bank statements.

*Basically, lenders require monthly or quarterly financial projections for the first year, then quarterly and/or yearly projections for the next four years.

*Lenders would require your bank statements, in order to confirm if it supports the claims you made in your financial statements and projections.

4. Documentation of collateral.

Collateral is a business or personal property you’re willing to put up, just in case you wouldn’t be able to deliver your part of the deal. You would be required to submit documents showing you indeed own the assets/items/properties up for grabs.

5. Other miscellaneous contracts and legal documents.

Specifically, they are the:

*Business licenses and registration

*Articles of incorporation

*Leases for commercial real estate or business equipment

*Franchise agreements

*Contracts with third parties such as clients or suppliers

Among other things…

After learning the pre-requisites, you may already want to jumpstart your business venture. Go for a trusted name that offers only the best service possible. With that, Cebuana Lhuillier’s Lucky Loan is definitely your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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It’s always tempting to let go of your savings and avail of the latest products in trend. If it isn’t your modern cellphones and gadgets, it’s the newest servings in your local fast food chains, quenching your thirst and hunger for that mouthwatering and savory meal, all thanks to aggressive advertisements. Due to these many temptations, it shouldn’t come as a surprise that a majority of us Filipinos are not able to save up in a yearly basis. Basically, it’s either we’re just getting through with our exact savings or we’re just in it for debt payments. It’s a sad reality; however, you can avoid falling to this particular situation if you would just avoid the following pitfalls:

1. Avoid withdrawing more than what you need.

Of course, everyone needs to refill their supplies, so a regular visit to the grocery is a must, but you should take note of the product prices and only withdraw the needed amount for the purchase. It’s not enough to cut down on your withdrawals; you should also be wise in choosing a much affordable item in the store. Not all mayonnaise are the same, but if one with a cheaper price tastes as good as the one with a hefty price tag, then you may need to go for the more economical choice. This would apply to all facets of your expenses, may it be bills, groceries, or even emergency expenses, only acquire the amount that you would exactly need, on order to avoid overspending.

2. Know what triggers and contributes to your spending.

This is a matter of self-control. Of course, we all need to eat, but you shouldn’t always go for an expensive snack if you want to limit your spending. Find alternatives to your daily routines. If your daily route is manageably a nearby walk, then stretch out your legs instead of booking a taxi. Avoid that expensive coffee shop and instead go for an affordable fast food brew. The possibilities are endless, and so are your choices.

3. Formulate a shopping list (and stick to it).

You make your own list, including milk and eggs. You arrive at the grocery, only to find that they had already ran out. You then find a few “on-sale” items and purchase those instead, thinking that you had saved a lot as they were indeed sold at a reduced price. This may sound logical enough, but if you were to look back, the amount that you had spent on the “on-sale” items were a lot higher than your supposed budget for the milk and eggs. When you go shopping without a list, it’s easy to get lost in the budget, and it’s much crazier to not follow your list if ever you had created one. Create a list; stick to it, and save a lot.

Be a master of your savings and hard-earned money with a trusted name that offers only the best service possible. If you’re a resident of Bacoor, Cavite, then Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account. All transactions are real time, erasing all the hassles that you may experience in other establishments. So what are you waiting for? Visit the Cebuana Lhuillier Rural Bank now – we assure a fast, easy and secure transaction.

You got your first car and are excited to be on the road. You’re ready to rev up the engine; however, are you ready for the unexpected pitfalls of driving? There are traffic laws that one should obey to ensure your own safety and the safety of those who are driving with you. It isn’t just about avoiding accidents, but also the sky-high expenses that go along with it in the offset of a sudden vehicle pile-up. Here are just a few dos and don’ts that you should keep in mind whenever you’re on the road:

Let’s begin with the Dos:

• Always wear your seat belt.
• Keep children in tested and approved car seats, no matter how much they beg or plead to get out. If you need, take frequent breaks so that little ones can stretch their legs.
• Review the official rules of the road for your jurisdiction periodically, and follow them always.

• • Follow the speed limits.
  • Pay attention when you are driving, even if you are familiar with the area. A surprising number of accidents happen only blocks from home!
  • Be courteous toward other drivers.
  • Give pedestrians the right-of-way in crosswalks.
  • Make room for bicycles.
  • Pay for your parking tickets or traffic tickets on time, unless you plan to contest them.
  • Keep a winter survival kit in your car for bad weather conditions. A good survival kit should contain a cell phone, matches, flares, a working flashlight, food, water, and blankets.
  • Make sure that your spare tire is in your car and that you have a working jack.
  • Make time for routine preventative maintenance on your car. Breakdowns can be dangerous and costly.
  • Plan your route out in advance for long car trips and keep a map or atlas in the car in case you get lost.

Now, let’s get to the Don’ts:

• Don’t drink alcohol and drive.
• Don’t let your emotions and frustrations get the best of you. Avoid road rage, at all cost.
• Don’t make assumptions about what other drivers are going to do. Just because someone has their turn signal on does not mean they are actually going to turn. They may be like the rest of us, and have forgotten that it is on!
• Don’t assume that other cars know what you are doing, either. Make sure that you use your turn signals and give yourself plenty of room to maneuver.
• Don’t tailgate other cars, pass on shoulders, fail to yield, run stoplights or stop signs (even if no one else seems to be around), or break any other rules of the road on purpose.
• Don’t play your car stereo so loudly you are unable to hear train signals or emergency vehicle sirens.
• Don’t talk on your cell phone and drive at the same time.
• Don’t engage in other activities, while driving, that distract your attention or reduce your reaction time. Eating, changing clothes, or putting on makeup while driving is definitely dangerous.
• Don’t leave valuables in your car, especially in unfamiliar places.

Memorize and comply with all of these, and you’d never have to worry about road accidents anymore. The more you know, the less chances of you getting involved in a dangerous situation.

Speaking of dos, you’d definitely want to avail a full-pledged service that has nothing but your best interest in mind. With that being said, nothing beats Cebuana Lhuillier’s AutoCARE Insurance, a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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Here we are again. It’s the start of a new year and you’re hoping to improve your financial habits. You might be thinking, “Well, I have my New Year’s resolution to help me out on that.” That would have been a great mindset, if it weren’t for the fact that (according to a recent worldwide study) 92% of people who formulate their New Year’s resolutions usually fail to implement it within the first 3-6 months. Ouch! That’s a large percentage to keep in mind, and you might even be wondering now whether you’re part of that big number or you’re just one of the few (around 8%) who manage to stick to their resolutions until the end of the year. Well, worry no more, as we had enumerated a few effective ways to save money this 2018:

1. Set up a separate fund for emergencies.

First things first, always remember that there are always unforeseen circumstances. They occur when you least expect it, thus leaving you with unexpected fees and expenses. Storms and road accidents are a perfect example of this. In such case, you should set aside a separate fund for emergencies. If you happen to accomplish this, not only would you be prepared enough for any sudden occurrences, but you would also avoid touching your savings in the long run. It is important to remember that an emergency fund should have enough to cover four to seven months’ worth of expenses. Experts recommend starting your fund with small goals, such as saving small amounts first, and then accumulating it as time flies.

2. Take note of your spending.

Be mindful of where you spend your money. Which is expensive? Which is affordable? You would be able to answer these and make adjustments along the way. Just always remember that your money doesn’t just disappear all by itself. If you happen to spend more than what’s needed, then it may very well be your own fault that you fell short from your budget. Speaking of which…

3. Make a budget list.

List down all of your expenses, your needs, your wants. Cut down on things which you don’t really need and focus on those which you would be using every day, like water and electricity. You don’t always need to sip in that expensive café, go for a cheaper alternative, like a ready-mix coffee or convenience store quick brew. The choice is yours, as long as you reduce your spending, practice the process of elimination and see your savings flourish along the way.

4. Take advantage of shopping promos.

There are countless ways to avail items without paying for the full price. Aside from the usual “sale” that they implement in malls during the holidays, you may also:

• Accumulate rewards by signing up for loyalty programs.
• Join a warehouse club and buy in bulk.
• Make use of shopping coupons.
• Plan your shopping/grocery trips during sales and holiday deals.
• Compare prices online.

And a lot more…

5. Make use of money-making/saving apps.

If you ever want to sell a few unused items at home, you may use an online buy and sell app to auction them off. You can also book a much cheaper restaurant or travel price via various discount apps. Feel free to discover via your local providers and networks and save a lot.

Be a master of your savings and hard-earned money with a trusted name that offers only the best service possible. If you’re a resident of Bacoor, Cavite, then the Cebuana Lhuillier Rural Bank is your one-stop spot for opening your own savings account. All transactions are real time, erasing all the hassles that you may experience in other establishments. So what are you waiting for? Visit the Cebuana Lhuillier Rural Bank now – we assure a fast, easy and secure transaction.

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You dream of starting up your own business and being the next successful tycoon. However, everyone needs to start somewhere. You already have a business format in mind, but you aren’t able to implement it yet, since you still lack the funds for even a dry opening. No worries, as we had enumerated a few practical ways for you to finance your own business:

1. Utilize your Credit Card.

This may have been mentioned first, but it is ranked lower in our list due to the fact that it is also a bit risky. If you ever fall behind on your payment, your credit score would take a hit, damaging your chances of ever getting any future loans. Be vigilant in using your card and never, even for a single month, miss out any payments in order to avoid blemishing your credit score

2. Borrow the amount from friends or family members.

It can never be embarrassing if your intentions are good. The thing about us Pinoys is that we have certain camaraderie, a fellowship that we have come to know as “Bayanihan.” Being helpful towards our friends or family member in need is one of our most common traits as a Filipino, and financing a startup business is a perfect example of such act. Of course, never forget to pay them back, or even give them a piece of your profit, so that you may avoid any grievances in lending after.

3. Try out crowdfunding.

Crowdfunding is the process of rallying people behind you in order to acquire the funds that you would need for your business or offered services. A particular website enables modern-day inventors and developers to showcase their ideas via videos and visual aids, thus, providing an opportunity for community engagement and funding on the needed capital. The more impressive your idea is, the more support that you will get from your potential patrons.

4. Utilize your own savings.

No pain, no gain. No sacrifice is ever unworthy of a great return in investments. Case in point, a startup business funded by your very own savings. We know, you might be keeping it aside for a car, a new cellphone, a house, etc. However, you should also consider the fact that once the business becomes a huge success, you would not only get back the amount that you had spent as a capital, but you would also get twice or thrice the amount that you had first invested. Now, that’s what we call a success story!

5. Get funded by an Angel Investor.

You might be wondering what this means. Basically, they are individuals who inject capital for startups in exchange for ownership equity or convertible debt. Some angel investors invest through crowdfunding platforms online or build angel investor networks to pool in capital. They may provide one-time investment to help the business propel or an ongoing injection of money to support and carry the company through its difficult early stages.

If these mentioned ways are not enough for your own liking, then we have got just the right thing for you. Get a jumpstart on your business venture with a trusted name that offers only the best service possible. Cebuana Lhuillier’s Lucky Loan is definitely your top choice. It is a multi-purpose loan offered to registered entities such as tricycle operators, credit cooperatives and other groups, as well as SMEs such as restaurant and mini groceries, among other businesses. Our network of more than 2,200 Cebuana Lhuillier branches and online presence give customers unlimited access and utter convenience in applying for a loan. Our five-point application to disbursement process ensures services are delivered on time. So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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It may sound repetitive, but protecting your finances is one main way of balancing your expenses. Not only would you be able to save up in the long run, but you would also be able to avoid any sudden expenses brought about by unforeseen circumstances. In such case, protecting both yourself and your automobile is a must, owing to the fact that road accidents may happen anywhere, any time. You may protect yourself on the road via traffic rules, but protecting your auto from a huge liable expense in the offset of an accident would be in the hands of a car insurance. You may ask, what are the key advantages of car insurance then? Here are just a few of them:

1. Protection from financial liability.

Believe us, you wouldn’t like to be in the receiving end of a huge damage expense. It’s bad enough that another driver would be involved in the accident (you’d have to pay for his/her medical bills), but it’s much worse to pay up for the other person’s damaged car as well, and that would be too costly. It’s always better to pay up than to be sued, but such is really a very budget-bending matter, so much that you will be glad that your car insurance would shoulder all of that for you.

2. Medical coverage.

If you think paying the other party damage fees is bad, just think about your own medical bills. Hospital bills in the country are at an all-time high, and continuous medication for your bruises incurred would just not be good for your savings. Know that a car insurance would not only cut your expenses, but may even shoulder your own medical needs as well.

3. In accordance with the law.

For those who are not familiar with it, the law states that car owners are required to have insurance. In such case, they would at least require liability insurance. Not being able to comply with this may result in you having to lose your license. Follow the law, be insured, and avoid any hassle on and off the road.

4. Repair and replacement coverage.

This is one of the main things that car insurances are known for, being able to shoulder damages in case of an accident. Hence, you would be able to avoid any expenses. The thing is, it would also depend on the exact coverage that you had availed and the severity of the accident itself. Nonetheless, you are still getting your money’s worth if you ever decide to avail a higher coverage.

5. Worry-free road trip.

Save yourself from all of the stress and worries of being on the road. Of course, you would still have to comply with the traffic rules for your own safety, but if ever you’d get involved in an accident due to the carelessness of other drivers, be sure that your car insurance would be there to look out for you and your expenses. Drive well and leave your worries behind.

Speaking of worry-free car insurance, you’d definitely go for a full-pledged service that has nothing but your best interest in mind. With that being said, nothing beats Cebuana Lhuillier’s AutoCARE Insurance, a Standard Comprehensive Car Insurance that covers Own Damage (OD), Theft, Loss and/or Damage. Excess Bodily Injury (EBI), Excess Property Damage (EPD), and Acts of God/Nature (AOG/AON). So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now to inquire – we assure a fast, easy and secure transaction.