7 Money Tips No One Follows But Should

For us Pinoys, every centavo counts. There would come a time that we’d need to sacrifice a few wants in order to make ends meet, in order to prioritize the needs. There is nothing wrong with that, as the ever-increasing prices would dictate that we should live according to our means. However, there are countless tips, “life hacks” to be exact, which would not only enable us to leave a few amounts for our savings, it would also allow us to spend a few for ourselves and non-frequent relaxations times:

1. Keep every spare amount.

It doesn’t matter if it’s just a bit of loose change or a few 20 Peso bills, if you’re not going to use it for now then add it to your savings. What many fail to realize is, no matter how small your current savings are, if it accumulates, you’ll be glad to find thousands in your account sooner than later. Let your savings grow by keeping your loose change aside instead of spending them compulsively.

2. Manage your financials the same way that you’d manage a business.

No one wants their business to fail; hence, they would do anything in their power to maintain its continuous growth and income. The same thing should be implemented towards your savings. Making sure that your account balance doesn’t reach zero would ensure that you’d still have a well-maintained account to deposit to after every payday. If you do not have a business, the same principle still applies, just think of it as a learning curve for when you finally decide to have a venture in the future.

3. Make saving a habit.

It’s tough, especially if you have friends who’d usually invite you to those late night parties and dinners every payday, however, that doesn’t mean that you do not have the option to say no. If they really are your friends, they would understand, and if you really are motivated to save, then by all means, respectfully refuse any expenditure as you go along the way. It may take a while for you to adjust to this “saving” lifestyle, but the payback is much more rewarding than your sacrifice.

4. Never spend impulsively.

This is a mistake that a majority of us would commit. Temptation is everywhere, a new cellphone model, a brand new car in the market, a newly opened ramen house, etc. It takes great strength to pull away from temptations; however, that particular task is eased up by a particular motivation, to save. Remember, these things, no matter how new, innovative, or delicious they are, are only temporary, and the needs must always come before the wants. The need to save for future expenditures should always be kept in mind in order to avoid spending your savings on an impulse. Choose wisely, spend wisely.

5. Consider undergoing a lifestyle change.

For some, lifestyle changes would only equate to expenditures, however, that is just a common misconception, as you may also undergo lifestyle changes in order to effectively save up money. The food you eat, the clothes you buy, and even your way of commuting to work may very well eat up a majority of your earnings, hence, why not choose a much affordable daily meal package perhaps? Or a cheaper, yet, still good quality of clothing brand? Or even a faster, yet, cheaper commuting alternative? The possibilities are endless. The amount that you’d be able to save with these lifestyle changes would ensure that you’d still have some left for future expenses.

6. Be aware of rampant scams and money-making schemes.

Nothing can be more damaging to your personal budget than being involved in a money scam. There are many to mention, however, their “procedures” are all the same: “Invest some cash in our group and we’ll double that amount after a few months.” This scheme has been around for a long time and yet, many still fall for the same old trick. This may be due to the fact that they mostly operate online and are usually made up of people who are well-versed in twisting financial terms. Don’t be fooled, avoid them at all cost, and instead, find other means to use your money wisely.

7. Investing on Microinsurance.

One way of wisely spending your money would be to invest on microinsurance. It’s your choice, house insurance, life insurance, livelihood insurance, car insurance, etc. You may ask, “Wouldn’t it cost me much to invest on microinsurance packages? Why not just save the money instead?” Well, that may sound like a logical point at first, until you realize that house and car damages would cost a great amount to fix, the same goes with hospital bills as well. Microinsurance packages would actually ensure that you may either be given a big discount or a free pass from all of the sudden expenditures (depending on your insurance coverage). Aside from that, you’d never have to worry about emergency finances anymore, as insurances would cover that as well. Be ready, be prepared, and invest on microinsurance.

With all of those in mind, you may definitely want to weigh in your options, analyzing which establishment would be best for availing a microinsurance premium and coverage. Look no further than with Cebuana Lhuiller’s Microinsurance Services, affordable insurance products to help Filipinos avail of financial services and privileges that higher-income earners have easy access to, with innovative microinsurance products and services that promise to minimize impact of distress and misfortune on one’s financial position. Feel free to visit your nearest branch for more information.

Image Source: https://www.pexels.com/photo/money-pink-coins-pig-9660/

5 Money Lessons that Impact your Child’s Future

As parents, it is our responsibility to teach our kids the proper way of handling finances. For some, this topic is too much of a taboo, especially for those who believe that money matters shouldn’t be discussed in front of their children. There is that traditional Filipino belief of not allowing kids to be exposed to mature subjects of discussions. What many fail to see, however, is that teaching kids the dos and don’ts of money spending would not only prepare them for a much stable financial future, but it would also instill in them a sense of responsibility when it comes to handling their finances. Here are five money lessons that may impact your child’s future:

1. You can’t buy all things immediately.

In short, this is trying to tell your kids that they just can’t buy anything they want, whenever they want to. Teaching this valuable lesson during their early years would not only refrain them from growing into spoiled brats, but also make them understand that money takes time to earn, hence, it should be spent, ideally, only when needed.

2 . Make the right decisions when it comes to spending your money.

We usually tell our kids to eat right and to avoid junk foods at all cost. The same principle applies for money spending. Make them realize that there are more important things than just toys and candies. Teach them about the basic necessities, such as clothes, food, and even shelter. Expose them to the fact that needs are always more valuable than wants, and that needs usually outlast wants when it comes to functionality, hence, the latter shouldn’t overshadow the former when it comes to budgeting and expenditures.

3. Money doesn’t grow on trees.

This is the best way to summarize the two pointers above. Make your kids realize that money is earned, not plucked from magical trees or summoned from your pockets. Let them know that adults work hard for each and every centavo earned, and that someday, they would definitely do the same thing. Instill in them the importance of spending wisely in order for them have a few amounts left for their piggy bank. Speaking of which…

4. Save, save, and save.

Teach your kids to save up for any future purchases. While they may be too young to work for their piggy bank savings, their main “job” for now would be to save up the extra change that they’d receive from mommy and daddy. As with Philippine traditions, relatives would usually give envelopes to the little members of the family during the holiday season. Teach them to keep these gifts aside for their future purchases.

5. Learning to share.

You might be confused, “I thought these lessons would encourage my kids to save and use their money wisely?” Yes, that is indeed true; however, this particular advice would not just instill goodness towards your kids, but also the spirit of investing wisely. Keeping money all to yourself would not enable it to grow. Proper investments, on the other hand, would not only gain you financial experience, it would also enable you to see your earnings grow each day. Sharing their money to those in need would let them see that the money they provided would do well in the long run.

Of course, when we’re talking about proper investments and savings, there is only one trusted name that we can surely recommend our kids in the future. If you’re a resident of Bacoor, Cavite, and Batangas, 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.

Image Source: https://www.pexels.com/photo/photography-of-girl-riding-bike-beside-man-1005803/

Fly Home with Cebuana Lhuillier!

  1. Fly Home with Cebuana Lhuillier Countrywide Promo Mechanics
    • Complete qualified transaction: Remittance (any amount) sent from Taiwan, Singapore, Hong Kong, Malaysia and Canada to the Philippines through any of CL’s remittance partners and claimed in close to 2,500 branches nationwide.
    • (1) one qualified transaction per month = (1) one e-raffle entry
    • Lucky senders from each country will be drawn to win a roundtrip ticket to the Philippines on the following raffle draw schedule:
Country No. of Winners Promo Duration Raffle draw date
Taiwan 20 September 1 to October 31, 2018 November 9, 2018
Singapore 20
Hong Kong 20
Malaysia 20
Canada 5 October 1 to November 30, 2018 December 6, 2018

List of Participating Partners:

Country Partner Name
Taiwan
EEC Int’l Phils Corp
Metrex Services Corporation
WCT Express Remittance Services
Well Chain Int’l Co. Ltd.
Singapore
BKK Forex Pte Ltd
Brunphil Express Pte Ltd
iRemit
Metrobank
HK Franki Exchange
Cebuana Lhuillier HK
Malaysia CIMB Islamic Bank
Placid NK Corporation
SMJ Teratai Sdn Bhd
TML Remittance Center Sdn Bhd
Tranglo Sdn Bhd
Merchantrade Asia
Canada Family Express
PNB
Atin Ito
Filremit
Iremit
Metrobank
    • Roundtrip tickets are only valid for 6 months, upon claiming of winners.
    • Raffle draw will be held at ICT Office 3F The Networld Hub 156 Jupiter cor. Comet Sts. Bel-Air Makati City
    • Announcement of winners will be done thru partner in-branch announcement and social media.
  1. Promo reminders:
    • Raffle entries are computer-generated and are based on transaction numbers and agreed cut-off per month.
    • Clients can earn as many entries based on their number of qualified transactions.
    • Clients can only win once.
    • Winners will be notified through partner branch announcements and digital winners’ ads. They must bring at least one (1) photo-bearing valid ID when claiming their prize.
    • Winners have (30) thirty days to claim prize or prize will be forfeited in favor of Cebuana Lhuillier Services Corp.
    • Roundtrip tickets are not convertible to cash.
    • Client shall shoulder all travel-related requirements upon return to destination country.
    • Employees of P.J. Lhuillier Group of Companies, Ad/ Creatives Agency, PR and Media agencies, and their relatives up to the second degree of consanguinity or affinity are disqualified from joining the promotion.

 

Manifesto for disaster resiliency

Disaster management, risk reduction, and post-disaster rehabilitation experts convened at the Cebuana Lhuillier 2018 Ready: Disaster Resilience Forum to share learnings and best practices among disaster first responders, families and communities to strengthen and improve their disaster resilience capabilities. To reinforce the role of microinsurance as a disaster-risk finance tool, Cebuana Lhuillier launched OurHelp, an online site where donors can ensure individuals who do not have access to or means to get insurance coverage. The disaster resilience partners also signed a manifesto declaring their commitment to raise the level of awareness, preparedness and sustainabilityof resources of Filipinos against the impacts of calamities.Photo shows (from left) Philippine Red Cross Disaster Management Services OIC Ana Villa Mariguina, YESPinoy Foundation Inc. executive director Pebbles Badillo Sanchez-Ogang, Rappler community and digital communications head Stacy de Jesus, Cebuana Lhuillier president and CEO Jean Henri Lhuillier, AFP Deputy Chief of Staff for Plans, J5, Maj. Gen. Restituto Padilla Jr., UP-Visayas associate professor in community development Jorge Ebay, and Cebuana Lhuillier Insurance Solutions, Cebuana Lhuillier Foundation Inc. and Cebuana Lhuillier Micro BizFirst Vice President and Group Head Jonathan Batangan with the manifesto at the 2018 Ready: Disaster Resilience Forum at the Shangri- La at The Fort Manila.

Cebuana Lhuillier holds disaster resilience forum

CEBUANA Lhuillier held its third annual Disaster Resilience Forum which seeks to spread more awareness on Filipinos’ role in disaster risk reduction and management and on the role of microinsurance for disaster resilience. The first panel of the forum tackled the roles and responsibilities

of first responders and how training, swift response, and inter-agency coordination leads to effective emergency response services. A second panel tackled the ways of strengthening the resilience of communities against disasters. The closing panel discussed how increased awareness can help make Filipinos resilient against, disasters. The continued discussion on disaster awareness is part of Cebuana Lhuillier’s disaster resilience advocacy. This year, the forum looked into action steps for preparing against disasters. “We are asking the global public to support us. We are looking for others to come in and donate and help,” said PJ Lhuillier Group of Companies President and CEO jean Henri Lhuillier in an interview. OurHelp, a donation website which helps insure Filipinos, was officially launched in the forum. Through OurHelp, they seek to engage people in their disaster resilience advocacy. Their goal is to have 70% of Filipinos insured by 2020.

According to Lhuillier, it is also their goal to increase awareness on benefits o f microinsurance. “[An insurance package] is something that you will benefit from or somebody in your family will benefit from in the long term,” said Lhuillier. He added that the advantage of microinsurance is that it makes insurance affordable and easy to get. Furthermore, they seek to reach far-flung communities and indigenous groups who still do not know about microinsurance. They are also looking into social media platforms to increase awareness on microinsurance.

CORPORATE AGENT PARTNERS

  • ACTION.ABLE, INC.
  • ALL ACCESS GATEWAY INC.
  • ANTRECCO (AGUSAN DEL NORTE TEACHERS, RETIREES, EMPLOYEES & COMMUNITY COOPERATIVE)
  • ACM VIP
  • ALL CASH
  • AGRILIFE/ AGRIVET
  • ASENSO PINOY STORE, INC. (EASY DAY SHOP)
  • AVICOM ENTERPRISES
  • AYALA ALABANG VILLAGE ASSOCIATION
  • BAUG CARP MULTI PURPOSE COOPERATIVE
  • BAGUIO BENGUET COOP
  • CARD BANK INC
  • CARD MRI RIZAL BANK INC
  • CARD SME BANK
  • CARITAS BANCO NG MASA, INC.
  • CEBU PEOPLE’S MULTIPURPOSE COOPERATIVE
  • CIS BAYAD CENTER, INC
  • COOPERATIVE BANK OF BOHOL, INC
  • COUNTRY BUILDERS BANK
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • AEON CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (VIA ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (VIA ECPAY)
  • ALLIANZ PNB LIFE INSURANCE INC.
  • ALPHA FUND SAVINGS & CREDIT COOPERATIVE (VIA ECPAY)
  • AMADEO WATER DISTRICT (VIA ECPAY)
  • AMYA POLYTECHNIC COLLEGE, INC. AND FINANCING CORPORATION (LENDPINOY)
  • ANGAT WATER DISTRICT (VIA ECPAY)
  • ANGELES ELECTRIC COMPANY ANGELICUM SCHOOL , INC. ILOILO CITY (VIA ECPAY)
  • ANJELMAN REAL ESTATE LEASING
  • ANTIQUE ELECTRIC COOP, INC ANTRECCO (BILLS PAYMENT)

OVER 600 BILLER PARTNERS NATIONWIDE

  • 123 FINANCE CORPORATION
  • 123 LENDING CORPORATION
  • 2C2P
  • 8AMC (VIA ECPAY)
  • ABEJO WATERS CORP.
  • ABRA
  • ACOM CONSUMER FINANCE CORPORATION
  • ACTIVE REALTY & DEVELOPMENT CORP.
  • ADA MANUFACTURING CORPORATION (VIA ECPAY)
  • CREDIT SERVICE
  • AETERNITAS CHAPELS AND COLUMBARIUM (via ECPAY)
  • AFC SME FINANCE INC
  • AFTERWEST MICROLOANS INC
  • AGODA – DRAGONPAY
  • AGRIBANK
  • AGRO-INDUSTRIAL FOUNDATION COLLEGE OF THE PHILS.
  • AGUSAN DEL NORTE ELECTRIC COOPERATIVE, INC.
  • AIR YOU GO TRAVELS PHILIPPINES CO.
  • AKLAN ELECTRIC COOPERATIVE, INC.
  • ALAMINOS CITY WATER DISTRICT (via ECPAY)
  • CREDENCE FINANCING, INC.
  • CURAMED PHARMACY
  • DALTON PAWNSHOP AND JEWELRY INC.
  • DANIELA PAWNSHOP
  • DIRECT AGENT 5 (DA 5)
  • DEVELOPMENT BANK OF THE PHILS.
  • EXPRESSPAY INC.
  • EVRIJEM FOREIGN EXCHANGE AND MONEY REMITTANCE
  • FILHAI MULTI PURPOSE COOPERATIVE
  • GLOBAL PINOY REMITTANCE AND SERVICES (GPRS)
  • GEMARY PAWNSHOP AND JEWELRY (CORP.)

List of Accepted Government/ Valid IDs

  • Passport
  • Driver’s License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter’s ID
  • Philippine Identification System (PhilSys) ID
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) ID
  • Senior Citizen’s ID
  • Overseas Workers Welfare Administration (OWWA) ID
  • OFW ID
  • Seaman’s Book
  • Alien Certification of Registration (ACR)
  • Barangay Certificate or ID (with picture and signature)
  • Birth Certificate (applicable to minors only)
  • Firearm License
  • Immigrant Certificate of Registration
  • Marriage License
  • National Council for the Welfare of Disabled Persons
  • New TIN ID
  • OWWA ID
  • Student ID
  • Alien Certification of Registration (ACR) / Immigrant Certificate of Registration
  • Government Office or Government Owned and Controlled Corporations (GOCC) ID (e.g. AFP ID, HDMF (Pag-ibig Fund) ID, etc.
  • Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  • Department of Social Welfare and Development (DSWD) Certification
  • Integrated Bar of the Philippines ID (IBP)
  • Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP (Bangko Sentral ng Pilipinas), SEC (Securities and Exchange Commission) or IC (Insurance Commission)

IDs Accepted

As required by Bangko Sentral ng Pilipinas (BSP), clients who engage in a financial transaction with covered institutions for the first time shall be required to present the original and submit a clear copy of at least ONE (1) valid photo-bearing identification document issued by an official authority. For our clients’ convenience, Cebuana no longer requires submission of the photocopied ID. IDs are captured using a webcam in all branches. Clients are also required to submit an updated photo and other relevant information whenever the need for it arises.

Forms of identification accepted are the following;

Pawn Accepted IDs
1. Passport
2. Driver’s License
3. Professional Regulation Commission (PRC) ID
4. National Bureau of Investigation (NBI) Clearance
5. Police Clearance
6. Postal ID
7. Voter’s ID
8. Philippine Identification (PhilID) card
9. Social Security System (SSS) Card / Unified Multi-Purpose ID (UMID)
10. Barangay Certification
11. Government Service Insurance System (GSIS) e-Card
12. Senior Citizen Card
13. Overseas Workers Welfare Administration (OWWA) ID
14. OFW ID
15. Seaman’s Book
16. Alien Certification of Registration/Immigrant Certificate of Registration (for foreigners)
17. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID)
18. Home Development Mutual Fund (HDMF ID)
19. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
20. Department of Social Welfare and Development (DSWD) Certification
21. Integrated Bar of the Philippines (IBP) ID
22. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the Bangko Sentral ng Pilipinas, Securities and Exchange Commission or Insurance Commission
23. ID issued by the National Council on Disability Affairs (NCDA)