Micro Savings 500 Winners List

The 2nd and 3rd  draw winners of Micro Savings,. Each winner will receive Php1,000 which will be deposited directly to the winner’s Micro Savings account:

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1st draw winners of Micro Savings Acquisition Promo. Each winner will receive Php1,000 which will be deposited directly to the winner’s Micro Savings account:

R1A_1st Draw Winners

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Kids and Financials: The Merit System of Teaching Kids about Financial Management This Holiday

As a parent, it is our duty to teach our kids the value of money at an early age. Knowing its true value and the various ways on how to use it properly would not only be beneficial for their mentality towards it as they grow, it would also orient them about the hard work that goes along with earning every centavo. Some parents would take the easy way out and simply give their kids around twenty (20) to fifty (50) Pesos, hoping to distract them for a bit until they come back to ask for more. This isn’t the right way to raise them. Responsible parents would rather choose to discipline them at an early age, make them face the hard truth about money and the pitfalls that goes along with overspending them.

For those who have yet to experience teaching their kids about this valuable lesson and are totally clueless on how to do it efficiently, look no further than our list of tips (and tricks) about financial management at an early age and the merits to teaching it at that very stage.

First of all, let us address something very important

Understandably, one of the many things that may happen while teaching your kids the value of money is that they may compare your expenditures with that of their playmate’s parents. The thing is, not everyone has an executive position at work, so while their playmate’s parents may be making hundreds of thousands a month, your couple of thousands would definitely be lower, hence, resulting to a tighter budget. You may hear your kids say, “Why does Peter’s parents buy him toys every payday, while I only get them every holiday?” There is no shame in telling your kids the truth, never make up excuses or funny stories, instead, let them know of your financial situation. Orienting your kids as early as now would definitely do wonders in the long run.

With that out of the way, here are a few valuable tips to teach your kids on how to save and manage their finances at an early age:

1.) Tell them that every cent earned is a result of long hours of work.

There is no such thing as a free lunch. Explaining this at first to your kids may be tough, but the easiest way to do this would be to compare your job with their school work. Students who submit their assignments and are active in recitations would get higher grades than those who do not exert any effort. The same thing applies to your job, with countless hours spent filing papers, hammering nails, washing plates, etc. in order to receive a salary every cut off of the month. Take this tip as a form of hitting two birds with one stone, not only would they understand the value of money, they would also be inspired to study hard. Hard work always pays in the end.

2.) Every item bought has its particular use.

Kids without discipline would often buy candies and knick knacks, enjoying it all for a short period of time, until they run out of short change and beg for more from their parents. The thing about kids not knowing the value of money is that they also don’t know the importance of buying something that should be useful for a long time. Adults would purchase air conditioners, refrigerators, flat screen TVs, desktop computers, cellphones, etc. in order to have something to use on a daily basis, a useful appliance or gadget of sorts. Kids aren’t aware of this concept, but they would easily understand once you use their toys as an example. Choose their most favorite toy and ask them how often do they play with it? If they answer “too often,” then you’d know that you hit the spot. Tell them that items as important as their favorite toy are bought with hard-earned money, and the same rule should apply to all of the things that they’d purchase in the future. School supplies, books, clothes, all of it should be a top priority rather than junk foods and knick knacks.

3.) Let them know that saving money is a sign of being nice, not naughty.

Kids always expected Santa Claus to swoop down from the roof and bring them presents every Christmas day. This belief holds true until this very day. In such case, use this to your advantage in teaching them about managing their finances, tell them that Santa doesn’t like kids who overspend. That being a good kid entails one to save, instead of overspending everything.

4.) Make them realize that Christmas season isn’t the only season for discounts and low budget purchases.

Orient them about the other national holidays, and how the major manufacturers (such as the ones who sell their favorite toys) are aware of these other holidays as well, so that they wouldn’t need to worry when it comes to missing out on the nice things this Christmas. It doesn’t mean that you are depriving them of gifts and treats, but rather, they should at least learn to set aside a few amounts for other future expenses. Develop this at their early age and it would be very advantageous to them in the long run.

5.) Don’t just teach them, reward them.

Every triumph deserves a trophy. Remember, one of the tip above entails that they wouldn’t need to spend, since Santa already has them covered. In such case, it is up to you to reward them for a valuable lesson learned. Give them a reason to not spend their pocket money, by providing them with a gift this Christmas. Of course, you don’ need to go all out. A simple gift such as a small toy or their preferred shoe or apparel would do the trick.

 

With all of these in mind, you may be looking for a well-trusted name that would safely value the security of your hard-earned money. Well, look no further than Cebuana Lhuillier’s Micro Savings, at its core, it aims to provide easier banking access to Filipinos. The product is almost the same with any regular savings account in the Philippines, but doesn’t require a maintaining balance. You will only need 1 government ID and atleast P50 initial deposit, Filipino citizens as young as 7 years old old are also qualified to open an account, which can be considered as a “kids savings” or “junior savings” account. So what are you waiting for? Feel free to visit the nearest Cebuana Lhuillier now!

How to Track your Spending this Holiday

Tracking your spending on a regular basis is tough. There might be a situation in which you have a lot of expenditures and bills to pay off, hence, you aren’t keeping tabs on your budget at all, so as long as you’re able to settle all bills and debts. For that matter, you may have an even tougher time tracking your expenses this holiday season, due to the fact that, while it may be a season of being jolly and generous, it is also a season where expenditures are multiplied tenfold. You may have settled your bills as of late, but other expenses such as gifts, the materials used to wrap them with, your company Christmas party contributions, the food for the Noche Buena, etc. are all added variables that may balloon your planned budget for the month. And these added variables are not what you regularly have at your budget list, or at least not the most common thing you’d list down for your monthly expenses. In such case, you’d need a lot of help and valuable tips for tracking your expenditures this Yuletide season. Look no further than our important budgeting lists:

1.) Plan everything out beforehand.

Those who are prepared to face every obstacle or adversary always has a bigger chance of winning in the end. The same goes for tracking your expenses. What better way to do that efficiently than to have a master plan of your expenses, even before the holiday season begins. Consider plotting out the things you’d need to buy for the holidays, like gifts, the gift wrappers (yes, regardless if they cost a little less than a hundred, that is still an expense), food, replacement Christmas decorations, etc. After listing them down, combine them with the other things you’d normally write down in your monthly expense list. Of course, utility bills are still a priority. You wouldn’t want to spend Christmas Eve with no lights or connection at all. After that, you may go into detail, with regards to who are the people you are gifting this year. Be sure to list them down clearly, so you wouldn’t lose count and forget someone. And then, feel free to write down the food as well. It’s fine if you were to list down the deliverables for the Noche Buena at first, but never forget that you also have guests in the other days of the Yuletide season, which is why you should at least consider setting aside a few more amounts for your simpler “menu” for guests.

2.) Expenses are always easier to track if there are only a few in your lists.

If you think writing down your expenses is the hardest thing about tracking your financials this holiday season, think again. Eliminating items from your list is tougher. To put that into perspective, you are listing down things to purchase (gifts, food, clothes, decorations, etc.), and then having to choose which one of those you’d erase after. We are not saying that you’d erase the whole category in one go, what we mean is you’d have to choose a few of the things from the “sub-category.” For example, within the main category of food for this holiday season, not all of the food you have in mind would have to be prepared, or at least not the whole menu you had planned in advance. If you have too many sweets, then you may favor one dessert over the other. The same goes for Christmas decorations. Do you really need a new Christmas light? If the one you’ve used the year before still works, then scratch Christmas lights off your list, and focus on buying other holiday decors. Again, eliminating something from your list doesn’t necessarily mean erasing the whole thing, but at least reducing the amount or volume of that expense category. As we’ve said, it’s easier to track your expenditures without too much clutter on your budget list. With that in mind.

3.) Not everyone has to receive gifts this holiday season.

We do not mean to sound like the Grinch, but that is a most truthful statement right there. If you want to track your expenses in an efficient way, at least limit your gifting list to family and friends. You may eliminate workmates from the mix, since you’ve already contributed to the Christmas party, may it be financials or with exchange gifts. You may also want to eliminate your best friend’s cousin, your neighbors, and even your Barangay chairman. In short, focus on people who are the closest to you. This is efficient, in a way that you are very familiar with the people that matters most, you know what they like and what they don’t, you know the type of gifts that they would commend you for, you know where and when to buy these gifts. And having that much familiarity is the key to tracking and even predicting how much your gift expenses would be. You may get creative, go big, or even go small, so as long as you know, whatever you’re giving these important people in your life would be very much worth it. Of course, tracking your expenses isn’t far from reducing them. After all, isn’t that the purpose of you managing an expense list? So that you may monitor whether you’re going over your planned budget or not. You’ll always need to save and set aside a few amounts for future expenses.

With all of these in mind, you may be looking for a well-trusted name that would safely value the security of your savings during the holidays.
Well, look no further than Cebuana Lhuillier’s Micro Savings, at its core, it aims to provide easier banking access to Filipinos. The product is almost the same with any regular savings account in the Philippines, but doesn’t require a maintaining balance. You will only need 1 government ID and atleast P50 initial deposit, Filipino citizens as young as 7 years old old are also qualified to open an account, which can be considered as a “kids savings” or “junior savings” account. So what are you waiting for? Feel free to visit the nearest Cebuana Lhuillier now!

Precious Gifts for your Precious Ones: Affordable Gift Ideas for your Loved Ones this Christmas Season

Our loved ones are the most precious ones in our lives. No material thing may ever replace them, no gold, no diamond, no silver may ever take their place. Indeed, irreplaceable are our parents, brothers, sisters, and even our best of friends. This Christmas season, we have the opportunity to let them know how important they are to us. We have the opportunity to give them something that would always tell them that they have a spot in our hearts, that we are thankful for them, that they matter. Of course, some, if not many, are able to show their greatest appreciation by gifts worth more than anyone can imagine. There are those who can afford gifting their loved ones with gifts which are above a few hundred, some are even way above thousands. atters most. But what if you do not have the budget to do that? What if you’re running on low funds due to the accumulated expenses of this Yuletide season? Do you simply give up on the notion of giving your loved ones something nice? Of course not! There are always alternatives to gifting a gift worth a thousand words (and thousand Pesos more), and you have all the resources in the world to do just that. Here are just a few affordable gift ideas for the holiday season:

1.) Get creative. Make the gift!

Arts in crafts will always be a part of humanity. Since the beginning of time, people have appreciated art, in many forms and sizes. In the ancient times, Pharaohs would order their loyal subjects to adorn the pyramids with ornaments and writings, kings would demand a few golden cups be laden out in on their gigantic dining table, and emperors would require huge scrolls of writings on their stylishly-built houses. Indeed, up to this very day, art has been one of the most fascinating things that humans have set their eyes upon. For the Pharaohs, kings, and emperors of your life (simply put, your loved ones), why not create something very creative and presentable this Christmas season. There are thousands of artsy gifts you may give that wouldn’t break your bank account. You have your paper mache sculptures, your homemade greeting cards, your folding doll houses, etc. And all that you need for these art projects would be a few pieces of paper, glue, and scissors. Add a touch of color, if you may. Paint the paper mache sculpture to your heart’s content, combine a blend of light colors for a much cheerful item. Go crazy with the smiley faces and emoji designs if you think your loved ones would have a laugh in the ev nnd. Or even paint a few stars, flowers, and hand prints if they prefer a much ordinary layout. If paint isn’t really your thing but still prefer to add color to your item then at least try using one of those glitter glues. They come in different colors, red, blue, yellow, green, your usual color wheel content. Just spread a few on the surface of your art project, and then let it settle for about twenty to thirty minutes. Set it in front of an electric fan if you want to speed up the drying process. It would have a glossy surface, littered with glitters of different colors

2.) Don’t mind the brand, mind the quality.

Well-known brands will always be costlier than those which are lesser known. The common belief is that, the more expensive they are, the higher their quality and durability is. Of course, that’s mostly true as their manufacturing machines are top grade and would produce nothing less of a perfect product. Millions are spent on their manufacturing machines, so understandably, the result should be as durable as any other tough material in the world, may it be clothes, shoes, bags, etc. Now, if that’s the case for well-known brands, how about those which names are almost unrecognizable in the market? Well, there are a few items sold in your local stores which are categorized to be substandard, apparels or items which would not last a whole year or two. Perhaps they are very much identifiable according to their country of origin (you know what we’re referring to). But the thing is, not all unfamiliar brands are included in this category of substandard items. Some lesser-known brands are top notch, durable, and would give well-known brands a run for their money. Aside from that, they are also very affordable. Unfamiliar as they are, brands which are of high quality yet cheaper are worthy of your attention. The thing is, why buy an expensive item which can break your budget, if you can buy two or three of those same items for a much lower price. Quality is always better than quantity, of course, but if you are given the opportunity to attain both then much as well grab it.

3.) Pre-loved items are always a go-to alternatives.

Do you have an item at home which is still in mint condition, yet, mostly unused? There are a couple of times in which our loved ones would have the same idea, with regards to our favorites and interest, and then they’d gift us with the same item, twice. You may use one of them, but completely ignore the other. In such case, why clutter your home with multiple items if you can just give them to your loved ones. May it be a toaster, a powerbank, a mini fan, or even a Bluetooth speaker, these items may accumulate overtime as they are some of the most common choices of holiday gifts, and the people giving you gifts may have the same idea after all. Of course, you still have to be careful when giving pre-loved items, as you may forget the vital detail of the recipient being the one who actually gave you the pre-loved item in the first place.

Take note that these are just a few tips to get ahead of the game, in terms of affordable gifting ideas this Yuletide season, and you may encounter more valuable tips along the way. The thing is, no matter how much you limit your budget, things may still end up getting short, and you’d have to look for financials elsewhere. Take it from us, borrowing cash from other people is no joke. Perhaps you are much safer pawning off a few items in exchange for cash. A high appraisal would at least guaranty you a fair return, providing that well needed cash for buying affordable gifts and Christmas treats.

With all of that being said, you may be looking for a pawn shop that would provide you with the most secure, reliable, and honest service and highest appraisal possible. No worries, as Cebuana Lhuillier has got your back. With their Pawning Service you can never go short in any amount, as they accept an array of items, from jewelry to gadgets, as collaterals. They also lead the pawning industry by offering safety and the highest appraisal rate in the industry in its more than 2,500branches nationwide. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Great Investments for a Growing Family

Having a new member in the family would be one of the most glorious things to ever happen within the household. A new baby marks the arrival of a new blessing that should further solidify the relationship and strength of the family itself. With that being said, everything should be in place, the adjustments that goes along with it, the preparation of an extra space for the newborn, and the budget that would fill in that new void as a result of the newest member. While many of these can be accomplished with enough effort, it is understandable that there may be struggles in terms of the financials. Setting up a new space for the baby is simple enough, like rearranging the furniture, assembling the crib, and placing the other child care items within the designated baby room. In terms of the emotional adjustment, there would not be much of an issue, as both the parents and the baby’s siblings may have already been anticipating the arrival of a newborn, hence, everyone is emotionally and psychologically ready for a new member of the family. We’re not saying that it’s a very easy adjustment, it’s just that it may go much smoother if everyone’s already “up to the job.” As for the financials, the earnings of both the parents are something that may not be adjusted to increase in just a snap of a finger. Monthly income isn’t determined by the addition of a new family member, after all. It is plotted out by contract and by decision of the company’s higher management, which is why the adjustment should come from the household instead.

There are various ways to increase one’s earnings as the provider of the household, and these are what we may call as investments. There are lots and lots of investment opportunities out there which parents and other members of the family may participate in. The thing is, doubling the monthly income is a hard task, but definitely doable and manageable with proper teamwork. Luckily for you, you have your whole family to support you with such opportunities. Here are just a few examples to get you started:

1.) A Sari-Sari Store

Businesses are a great investment in the long run, and nothing brings out a more Filipino-like business better than a sari-sari store. Remember when we said that doubling your income would be a team effort? Well, having a business is no “walk in the park.” You need a helping hand, and you need your family to take over your store while you and your spouse are at your day jobs. Your teenage kids may watch over the store and tend to buyers after school. They may even report the whole day’s income after you come home from work. It’s also a good practice for the kids and teenagers to interact with buyers at an early age, as it helps develop their social skills. But that’s not all, being in charge of the store while you’re away would help orient them with the ins and outs of a business venture, no matter how small it is. A sari-sari store may not seem much, but it would add more funds for your daily expenses. A baby would need a continuous supply of milk and diapers, and your daily earnings in your small store would be beneficial for those expenses.

2.) Online Buy & Sell

With the introduction of online selling apps, you are now presented with the opportunity to run a business at the comfort of your home. If you do not feel comfortable about your kids running a small store, at least with online buy and sells, your privacies would be much better protected, with many apps taking on more secure features for their online sellers. Your options are limitless when it comes to online selling, many would sell clothes and apparels, there are some who sell tumblers and lunch boxes, there are those who would sell powerbanks and USB drives, indeed, you wouldn’t run out of options. You may have to register first before you can begin to sell, as with other social media sites, nonetheless, it is much simpler to sell online than to set up shop like a sari-sari store, which in turn would require you to spend more, especially as you’d need to construct the store itself, with expenses coming from construction materials and handy work.

3.) Buying a Car

Out of all the things mentioned in this list, we’re sure that you may find this part seemingly counterproductive. It’s very understandable, as we’ve mentioned in the earlier part that the purpose of having an investment is for you to double the family’s income. Buying a car doesn’t only seem expensive at the point if purchase, but also very costly in maintenance. But let us put this into perspective, there are sources of income nowadays which requires a car, and those livelihoods are somewhat the “in-thing” when it comes to earning a fair amount in no time. Aside from apps which functions for online selling, there are also apps which are coordinated with a car. They are known as TNVS and are the modern Taxis of today. With a simple click of an app, a passenger may request for a ride, whether their destination is a few minutes or a few hours away. The driver (who is the recipient of the ride request) would simply indicate the fare price. If both the driver and the passenger were to agree on the conditions (price and destination), the passenger would be picked up, thus, beginning the whole transaction. It may all seem simple enough, but such can produce a regular income that the whole family, including the newest member, would appreciate, especially as everyone travels. There are students and employees traveling towards their daily destinations, and the need for transportation arises, mostly for those places where a regular bus or jeep doesn’t go to because of differing routes.

With all of these suggested investments, you may be looking for a service that would protect the fruit of all your labors, a service that you can trust with your financials, a service that values the love that you have for your family, especially its newest member. Well, no need to look further than Cebuana Lhuiller’s ProtectMAX, a microinsurance product designed for individuals aged 7 to 70 years old, featuring Death Benefit, Accident or Sickness Emergency Cash Assistance, Accidental Dismemberment and/or Disablement, Murder and Unprovoked Assault and Residential Fire Reconstruction cash assistance. For as low as P50, each certificate is valid for four (4) months from the date of issuance and can be availed up to a maximum of 5 certificates per insured.

Simply put, just think of all the insurances you’ve heard of before, and then raise them into a higher level, that’s what ProtectMAX is. You are better off investing in this particular Microinsurance, especially if your main priority is attaining an insurance that’s affordable and worth your hard-earned money. You may ask, “Well, that sounds great! But is my family qualified for this?” The definite answer is yes! The following are qualified beneficiaries for ProtectMAX:

Qualified beneficiaries:

  • Legal Spouse
  • Child of legal age (18 years old)
  • Parents – Mother/Father
  • Siblings – of legal age and single; married

So what are you waiting for? Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

Christmas Savings: Tips on How to Save In Spite of the Yuletide Season

 

This Holiday season, there are too many discounts and temptations to run away from. You have your shopping malls, your local stores, your grocery savers, and your online shopping apps. All of them are relying on your decision to spend your 13th month pay, but you should not forget that you also have other expenses, even after the Christmas season ends, hence, why you should have a definite amount of self-control. Many are distracted by the whole festivities to notice that the shopping expenses can stack up, leaving you with little to no amount by the start of the New Year. Pinoys aren’t even particularly careful during this season, as they believe that this is the “season of giving,” and there’s nothing wrong about giving right? Well, that particular belief has been misused from time to time, and this is no different than those other situations.

If you think we’re just over exaggerating on the spending habits of Pinoys during the holidays, then why not take a peek into this data taken from 2017:

  • “Among respondents participating in the data gathering, 55% indicated that December is the heaviest shopping month, with November coming in second at 24%. Only 5% of respondents said they shop in either September or October.”
  • “Among respondents participating in the data gathering, only 35% of respondents said they own a credit card, while 48% still do not own a debit card.” This data alone indicates that a majority of holiday shoppers pay with their cash, and definitely, no other resource is more used than their 13th month pay.
  • “Many of the respondents prefer clothes over other material items.” Of course, we are not ignoring those who prefer to receive or purchase electronics, but still, clothes and apparels are the most must-buys during the holidays. You have the influence of social media personalities to thank for that. Whatever they are wearing, that’s the “in-thing” nowadays.

With all of these in mind, you may be wondering how you can best save money during the holidays. You are faced with temptations, faced with countless discounts and price drops, faced with bundle packs and deals. Well, look no further than our money savings tips for the Yuletide season:

1.)Make a strict budget out of your 13th month pay/Christmas bonus

No means no and yes means yes. Self-control begins with setting boundaries, the same goes for your budget. Perhaps, you may set aside one-third of your bonus for gifts and holiday expenses, and then set aside the rest for your savings and expenses after the holidays. You can also do the reverse, where one-third is kept in your bank account while two-thirds are utilized for the holidays. It may be tough to avoid temptations during the holidays, but remember, you should spend all of your resources in one go. Many businesses and individuals found themselves at the bottom of a deep mound of debt due to lack of proper financial management. Speaking of temptations..

2.)Avoid dwelling too much into your social media accounts for the time being

You may try sticking to text messages, calls, and e-mails during the holidays. Nowadays, corporations and big brands are targeting their potential customers via customized ads online, and your social media accounts aren’t safe. Sellers spend a lot of money to roll out these customized ads in order to capitalize on spending habits, corporations are very much aware of this and would take advantage of everyone’s mutual bonuses to capitalize on their gains and revenues before the year ends. This leaves all the decision making to you, in terms of your purchases. Yes, there are temptations everywhere, yes, there are amazing deals as advertised on your screens, but these are mere marketing tactics to hook you into buying a brand’s products. A common joke nowadays is that people are drowning their sadness away through online shopping, an outlet which may turn into addiction if not monitored. It’s all funny for the time being, but it holds a certain reality at its core. People can fall victim to this outlet and be in debt at the end of every holiday season. Don’t be one of them.

3.)Be sure to track your spending

Many people spend their money without taking note of their expenses overall. You may find yourself buying a discounted item, and then be tempted to buy another, and another, until you are left with only a few centavos from your thousands of bonus pay. This is a result of two things; not planning your purchases ahead of time and not setting aside an amount from your holiday earnings. It may seem harmless at first, but remember that all bad things begin from those which do not pose a great threat at the first sight. If you go shopping for gifts, be sure to have a notepad with you. If you’re not comfortable carrying around a pen and paper, then at least use your cellphone’s calculator and note functionality to tally your expenditures. Begin by window shopping, take note of the prices, and decide which items and bundles would fit your budget. Be disciplined enough to set aside an amount in the first place and then choose to spend the rest. If you can, you may opt for cheaper alternatives, as not all expensive items are really of high quality, you’re mostly paying for the brand, after all.

4.)Choose homemade gifts instead

We’ve already said it and we’ll say it again, Pinoys love to honor the spirit of giving. There’s nothing wrong about being generous and mindful of your family, friends, and loved ones, but if it’s going to greatly affect your budget, then at least be creative enough to gift them with something affordable, yet, presentable. It could be a homemade figurines, food specialty, or any artsy craft. Remember, it’s the thought that counts.

With all of these in mind, you may be looking for a well-trusted name that would safely value the security of your hard-earned money. Well, look no further than Cebuana Lhuillier’s Micro Savings, at its core, it aims to provide easier banking access to Filipinos. The product is almost the same with any regular savings account in the Philippines, but doesn’t require a maintaining balance. You will only need 1 government ID and atleast P50 initial deposit, Filipino citizens as young as 7 years old are also qualified to open an account, which can be considered as a “kids savings” or “junior savings” account. So what are you waiting for? Feel free to visit the nearest Cebuana Lhuillier now!

A good habit to develop

The Philippines is said to have one of the lowest savings rates in Southeast Asia. And according to a survey conducted by the Bangko Sentral ng Pilipinas, only one in four households has savings.

Meanwhile, the World Bank has said in another survey in the Philippines that most Filipino families’ incomes were eaten up by basic necessities, thus representing a significant hurdle in the amount of savings Filipino families can set aside.

According to the World Bank, respondents of the survey who were financially literate, or who were familiar with basic terms like interest rates, purpose of insurance, and risk diversification, were found to be more responsible with their finances.

World Bank said that policymakers should focus on financial literacy education and come up with interventions such as getting financial literacy into the basic education curriculum.

Thankfully, there are companies like Cebuana Lhuillier who have made it their mission to teach Filipinos the benefits of saving money and how a micro savings product can help them secure and grow their savings, little by little, towards becoming financially independent in the future.

As part of its mission, the company has empowered its 8,000-strong workforce to become “iponaryo” ambassadors, visiting far-flung communities, schools and workplaces to teach and show Filipinos how to manage their spending, save money, keep them in a micro-savings account, not in the usual alkansya.

In more than 500 iponaryo sessions conducted nationwide so far, attendees are encouraged to take on the P50 iponaryo challenge by depositing P50 directly into a micro-savings account as frequently as possible with the aim of growing it to P50,000.

Cebuana Lhullier Rural Bank has an interest-bearing deposit product with low initial deposit and no maintaining balance. The product is being carried by Cebuana Lhullier Pawnshop as cash agent. Cebuana Lhullier Micro Savings is currently available in close to 2,500 branches nationwide.

With more than 2.5 million new micro-savings accounts already generated, Cebuana Lhuillier is finally giving millions of unbanked Filipinos the opportunity to safely grow their hard-earned money.

Read more at https://www.philstar.com/business/2019/11/24/1971265/no-goverment-takeover#rxBcqEHPIJDxDzcl.99

Cebuana Lhuillier’s 2,500 branches advocate financial independence promote micro-savings product thru its rural bank subsidiary

Nowadays, when money is hard to come by, it’s nice to know there are companies who will go out of their way to help Filipinos overcome their financial problems, starting with a few small steps.

Widely known for its pawnshop business, Cebuana Lhuillier is getting more recognized now for advocating financial independence, especially among lower-income communities, through promoting a micro-savings product of Cebuana Lhuillier Rural Bank.

Through more than 500 “iponaryo” sessions, around 80,000 employees in more than 2,500 Cebuana Lhuillier outlets go to various barangays, schools, non-government organizations, and local government units nationwide — to teach Filipinos how to manage their everyday spending, save even the smallest amount of money, keep it safe and secure, and grow it further.

The financial wellness program aims to help millions of unbanked Filipinos become financially capable by encouraging them to save money and opening a micro-savings account, one that can help them achieve their financial goals.

To start their journey towards financial independence, they just have to go to any Cebuana Lhuillier branch, and open a micro-savings account by submitting one valid ID and ₱50 initial deposit.

 

Authored by Elinando B. Cinco

Sending Thy Love: An In Depth Look Into the Filipino Notion of Money Remittance during the Holidays

Money remittance has always been parallel with an OFW’s main goal. The thing is, their families are depending on them back home, and what better way to provide than to send financial sustenance on a monthly basis. Believe it or not, there used to be a time in which the process of money remittance itself is scarce, to almost non-existent to many parts of the world. OFWs of the old age used to send money through envelopes, through snail mail, and you can probably guess how that went. There’s a reason why it was called snail mail, and indeed, it arrived later than usual, hence their families were always on the verge of deadlines and due dates. Nowadays, people have gone smart and instead chose to send money via a more practical and efficient way.

The rise of money remittance centers somewhat became synonymous with the stereotype of Filipinos being the hardworking heroes in foreign countries, perhaps the notion of being resilient amidst homesickness and loneliness gave off a very inspiring aura among Pinoys. The fact that we are regarded as such by foreigners as well would definitely say so much about this longstanding reputation, so much that pop culture and modern day marketing capitalized on this vividly, that we’d often see more of this via our local commercials and teleseryes. Talk about national identity and stereotyping in the media, this one takes the cake to a whole new level.

With that aside, you may be wondering how this came to be. How did we Filipinos end up being the very image of hardworking heroes? And how did we end up staying significantly parallel with the process of money remittance as well? To understand this whole concept, we should begin with the basics.

First of all, what is Money Remittance?

A quick online search gave this very specific definition about money remittance:

“A remittance refers to money that is sent or transferred to another party. The term is derived from the word remit, which means to send back. Remittances can be sent via a wire transfer, electronic payment system, mail, draft, or check. Remittances can be used for any type of payment including invoices or other obligations. But the term is typically used to refer to money sent to family members back in a person’s home country.”

Take note of the last sentence. The most common perception about money remittance is it is a way for foreign workers and expats to send financial assistance back at home. It doesn’t matter what country they are currently in, as long as the financial support is bigger than what their loved ones earn back at home on an average, it is considered a financial help or sustenance. Now, you may ask, what if the amount sent isn’t bigger than what their loved ones currently earn on an average? Well, there’s the fact that it invalidates the purpose of being an overseas worker in the first place. Knowing very well that they wouldn’t make much of a money when working abroad would simply tell them that leaving their country of origin wouldn’t make any difference at all.

How big is the contribution of Pinoys when it comes to Money Remittances?

If you think that the numbers are insignificant, think again. Here are a couple of data with regards to OFW’s remittance contributions to the country:

  • As of late, there are more than 10 million Filipinos are living as expats—a sum equal to 10% of the country’s population.
  • According to data gathered by Bangko Sentral ng Pilipinas (Philippines Central Bank, BSP) back in 2017, the Philippines was able to receive an inflow of USD$32,808 million, which translates to 10.5% of the Gross Domestic Product (GDP).
  • If you’re wondering about the most preferred countries for Filipinos to work in, according to the BSP, overseas Filipino workers (OFWs) support their families mainly from the United States (9.4 million), the United Arab Emirates (2.54 million) and Saudi Arabia (2.5 million). These choice of countries are evidently portrayed in local TV teleseryes most of the time. However, as time went by, the consensus shifted towards other choices such as Canada, Australia and New Zealand.

As you’ve noticed, a huge number of people definitely results to a much bigger return in finance. Take note that these numbers only represent data gathered from that very year, hence, there is a big chance that it may have gone up as the years went by. Do not be surprised if the numbers even doubled up, with a few more countries widening their doors towards Filipino workers in the past years alone, along with the support of the Philippine government continuously providing their assistance towards Filipinos who are hoping to make a living in the various parts of the world. Speaking of increase in numbers.

What is the most recent count, in terms of all OFW’s remittance in the past year alone?

Simply put, it was huge! According to another recent data gathered by the BSP:

“Cash sent home by Overseas Filipino Workers (OFW) surged to an all-time high in December 2018 and clocked in full-year growth that outpaced the central bank’s growth forecast even as it was the slowest annual increase on record. Cash remittances reached $2.849 billion that month, up 3.9% from the $2.741 billion inflows recorded in December 2017, spurring full-year inflows up 3.1% to $28.943 billion from 2017’s $28.060 a little past the BSP’s three-percent growth projection. That month’s (December) increase was the fastest since October 2018’s 8.7%. The increase in remittances was propelled by a 2.8% hike in the amounts sent by land-based OFWs, plus a 4.6% pickup in funds sent by those working at sea.”

Let us put into perspective that the cash flow was calculated in US Dollars ($), hence, if it was to be converted into Philippine Pesos (Php), the numbers would reach a very astounding amount. Indeed, it greatly contributes to the Philippine economy, along with the import, export, and businesses we have with other countries.

Is the level of money remittance affected by the ever-changing season?

That’s a good question that would be best answered by this particular statement from a sought after economist:

“December is the season for sending back money for loved ones in the Philippines,” says Chief Economist Mr. Carlo O. Asuncion. “Remittances usually peak towards December each year as OFWs send more money to support increased spending for festivities and gifts during the holidays.”

This is true, as according to BSP, “Household spending contributes about three-fifths of gross domestic product. The latest available Philippine Statistics Authority data show household final consumption expenditure growth slowing to 5.4% in 2018’s fourth quarter from the year-ago 6.2%, and full-year increase slowing to 5.6% in 2018 from 5.9% in 2017.”

While the Holidays is near, a lot of Filipinos send money and receives remittances. If you are sending or receiving remittances until November 2019, you can win in our Cebuana Lhuillier’s PADALAmazing Raffle Promo and Double Your Remittance Promo!

More info on these promos on this links:

https://www.cebuanalhuillier.com/cebuana-padalamazing-raffle-promo-mechanics/

https://www.cebuanalhuillier.com/double-your-remittance-promo/

Pawning Protection: Pawning Around the World and the Red Flags against Scams

Scams are everywhere. Not only are they limited to financial transactions, they’ve also entered the world of marketing, networking, and even after-sales. Scams may come in many forms, some you may have already heard of from your local evening news, while others are still under wraps, with assailants proving to be too much of a burden to the authorities. The thing about scams is that their effectivity and execution would rely on how less the victim knows. Those who are not knowledgeable about these modern modus operandi are more likely to be tricked by assailants. The same goes for people who are not cautious and vigilant in their everyday transactions.

There are already countless cases of scams around the world, and one major establishment isn’t safe from unscrupulous people either, namely, the pawnshop. You may not heard of it much, but yes, there are cases in which people fell victim to pawnshop scams before, perhaps banking scandals and the likes of “budol-budol” are more rampant, hence why they get reported more than these pawnshop escapades. Nonetheless, they exists, which is why you should be as vigilant as ever when undergoing a transaction inside a pawnshop. A few are just mere examples of cases from around the world, and the perfect opportunities and preparations you should undergo in order to avoid them.

The Proxy Method Scam

Ever had an item in your hand that you wanted to pawn off? Well, the most practical thing to do would be to visit your nearest pawnshop and to pawn them off straight away, right? Well, that’s the most straightforward way to do it, sure, you’d have to allot time and fare money in order to reach the pawnshop, but the return is always higher, especially if you’re going for a pawnshop with a high appraisal record. Now, there are those who, unfortunately, would rather take the easy way out. Some would be too lazy or reluctant to speak to the pawnshop authorities, so much that there are scammers who would offer to do the transaction for you, somewhat of a pawning proxy. The thing is, they would approach you, offer to pawn off your item, and promise to come back with the whole amount. They’d ask for a very small percentage in exchange for the service well done. This may seem convenient and wise at first, but remember, there is always a catch. Not only would these scammers cheat you out of your items with false promises, they would also run off with the amount. It’s as if you gave them permission to rob you, and you were very much in on the act as well. Avoid talking to people that you do not know outside the pawnshop branches and instead, transact with authorized pawnshop personnel.

The Fake Gold Scam

With this modus, not only are you the victim of the scam, but you’re the proxy to the crime as well. A news story from years ago reported that a man from the province was approached by people calling themselves as “treasure hunters.” He was then shown a huge chunk of gold, after which, he was told to find a buyer in exchange for a commission. The chunk of gold was drilled in front of him in order to prove that such an item was authentic. They gave him the gold, but asked a particular amount as a guaranty that he would return to them with the sale. Normally, a pawnshop would be the wisest choice to approach and transact with on this matter, so the man did exactly just that. But after reaching the pawnshop, the pawnbroker was able to test out the authenticity of the item, and it turns out that it was fake. It might have been a harmless transaction if it weren’t for two things: a) the victim gave a particular amount to the scammers as guaranty money, so he already lost a lot in this case. b) he could be sued as an accessory to the crime, as giving a fake item to the pawnshop is definitely against the law. It’s one thing to be scammed out of money, but it’s another to be used as an accessory to the crime. Don’t fall for this mess. Avoid interacting with people claiming to be the source of instant commissions and opportunities. If it’s too good to be true, well, it usually is.

With all of that being said, you may be looking for a pawn shop that would provide you with the most secure, reliable, and honest service and highest appraisal possible. No worries, as Cebuana Lhuillier has got your back. With their Pawning Service you can never go short in any amount, as they accept an array of items, from jewelry to gadgets, as collaterals. They also lead the pawning industry by offering safety and the highest appraisal rate in the industry in its 2,500branches nationwide. Visit your nearest Cebuana Lhuillier branch now – we assure a fast, easy and secure transaction.

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)