The World of Second Chances

Credit Card Debt

March 5, 2010

Career, Finance & Product

Tell me of the best credit card company. HSBC? Citibank? Metrobankcard? There is no best credit card company unless you have the capacity to pay what you used.

I had my first credit card in 2007. Quite a latebloomer, I was so excited and “honored” to own one. My first expense using my HSBC Red card was just a snack in Mc Donald’s. It costed me around PhP 200.00. Cheap, isn’t it? I just wanted to check if my credit card was already “online.”

I bought my first laptop in December 2007, 40% of the payment came from my HSBC Red Card. The minimum monthly payment was tolerable; I had a solid cash flow and I could still save a little portion in the bank. I used my Mabuhay Miles to buy a digicam in October 2008. With two cards, I could still pay above the minimum monthly payment.

When 2009 came, the additional expenses were unforecasted. Instead of my usual practice of paying above the minimum monthly payment, I settled at the minimum. But the minimum monthly payment barely covered the montly interest rate; my credit card debt got bigger and bigger every month. To add to my self-made misfortune, I realized that my credit card debt nearly reached PhP100,000 only in November 2009!

It was on the same month when I chanced upon Francico Colayco’s bestseller book, “Pera Mo, Palaguin Mo” in SM. According to Colayco, credit card debt is the most expensive debt because they charge an interest rate of 3.5% per month or 42% per year. What happens if you’re only paying the minimum? You are only paying for the monthly interest and the credit card company computes for another 3.5% on your remaining balance for the next month’s billing statement.

I made a wrong financial decision when I least prioritized my credit card debt in 2009. I could have paid my two credit card debts in March 2009 but I opted for a solid cash flow instead of a little cash flow but zero credit card debt. Wrong move!

I called up HSBC in December 2009 to ask if they have an installment program. The agent said that they don’t have an existing program. Okay,fine!

I computed my cash flow. Colayco said that Income Less Savings = Expense. Which means to say that saving must come first before spending. I computed our monthly budget and realized that if I could raise my monthly credit card payment to xxx amount. I targetted June 2010 to pay all of my credit card debts.

Today is March 2010 and I have three more months to go. I realized two important things:
1. To check my monthly billing statement. (I used to take this for granted)
2. Never spend what you can’t pay for in two months time.
Who Will Be The Next President of the RP?

February 25, 2010

Life & Love

Survey says it’s Manny Villar who is preferred by 70% of respondents followed by Noynoy Aquino at 64%. One thousand eight hundred respondents versus a voting population of 43 million Filipinos, can we trust the statistical figures then?

Assuming that the SWS survey is correct, then by statistics, it’s Manny Villar who will be the next president of the Republic of the Philippines. That is good until the voting public makes a change of heart. A lot of things can happen before the May elections and survey results will definitely change as the voting public is made to realize who to vote.

I am looking for a website that reflects the presidential candidates’ personal and public profile. I would like to know their educational background, their family background, their achievements in life, the good things that they did for the country, their wealth and health status, their religion, their ethnic group, their political view, their stand on Mindanao and Abu Sayyaff, their stand on pre-marital sex, euthanasia, nepotism, agrarian reform program, alternative sources of energy and the growing Filipino population that is forecasted to hit 100 million in 2010.

On that website, I would like to include a public forum wherein we can discuss the candidates’ character. Is it true that this candidate is a drug user? (just an example) Why do we need to know a candidates’ flaws? So that we can compare it with our own values. I know that nobody is perfect but at least we should vote for somebody who has the highest appraisal when it comes to being moral.

Eddie Gil, a former presidential (nuisance) candidate said that once elected, he would pay our country’s foreign debt using his personal funds. We laughed at him and ridiculed him but is there any candidate who has the same objective? I have yet to hear from a candidate’s mouth his strong willingness to at least reduce our foreign debt.

I hope for a transparent and honest election this time.
Loyalty To The Company

February 23, 2010

Career, Finance & Product

How is loyalty to the company being taken by the Filipino working class? Is there an available statistics of loyal employees? What is the ratio of home grown talents versus a non-home grown ones in a company?

Back in the old days, loyalty to the company is like being loyal to one’s country. Promotion and the reward system were based on years of service in the company. It’s no wonder why our grandparents were able to afford large houses and nice cars back then. It is like the age-old belief that a college education is the key to one’s success. Remember Robert Kiyosaki and Sharon Lechter’s “Rich Dad Poor Dad?” Loyalty to the company and obtaining a college degree to get rich are related assumptions. Both are old-school beliefs. I won’t discuss the principle of “Rich Dad Poor Dad,” you try to read the book if you care to know about it. I will be focusing on my own belief that “loyalty to the company is old school.”

And why is it old school? As I mentioned, during the time of our grandparents, the reward system was based on years of service to the company. Is it happening now? Let me cite Intel Philippines as an example. Intel Philippines wrapped down its operations in 2009. Ask any ex-Intel employee and he/she will just give you a uniform answer. They would all agree that when it comes to compensation and benefits, Intel was the champion at it. Some if its employees were middle-aged men and women who even bought a home within the Generial Trias area. Maybe ten years ago, they thought of permanently settling down in Cavite though some of them came from as far as Northern Luzon. Of course, it’s not Intel’s fault if its employees decided to settle near their work area. My point is, these loyal employees did not foresee that the semicon superpower would someday pull out its operations in the Philippines. Where did their loyalty put them? Thanks to Intel’s separation pay? Unless you’re a good businessman, then maybe that amount is in good hands.

Some employees tend to bind theirselves into the company that they learned to love but they fail to acknowledge that our employers are business-minded people. They hire us not because they want to give us a better life. They hire us because they think that we are capable of expanding their assets.

A friend asked me,” So, are you implying that I must be lax and lazy just to prove my disloyalty to my employer?”

What a question! I did not mean to say that a person must be lazy and lax to his work just to show his disloyalty. My point to all this argument is this. Be hardworking, show your commitment but for your own sake, do not be a blind follower to your company. Leave when you feel that the company does not respect or acknowledge you. Leave when there is a better opportunity. Do not be stagnant, learn a new skill, find the best employer, learn how to invest your earnings while working.
Sarah Labhati and Steven Silva Made It!

February 22, 2010

That’s Entertainment

Starstruck V is the only Starstruck that I watched and followed from start to finish. There is something new from this 5th batch that the other batches don’t seem to have. More star-material? More mass appeal? More talents to show? More determined contestants? I dunno. This batch is just the best batch for me when it comes to talent, beauty and attitude.

As I mentioned in my previous post, a week before the finals night, I was torn between my original bet Diva Montelaba and classy beauty Sarah Labhati. Diva is the total performer, one who can sing, dance and act. She was a model and TV segment host before she joined Starstruck. Wearing an orange gown last night that accentuated her “modellish” physique, Diva was very tensed before the announcement. She lost the Ultimate Female Survivor title to Sarah Labhati. But don’t worry, Diva. With your talent and exotic beauty, you’ll go places. 😉

Sarah looked more of a beauty queen than a winning contestant last night. The yellow gown was just perfect for her. A good singer, she can embark on a singing career besides acting.

Rocco Nacino was confident throughout the night. He was crowned 2nd Prince. Actually, I didn’t expect that he would be 2nd Prince as I thought that that should belong to Steven Silva. Rocco’s family seemed affluent. His mom was right in saying that it doesn’t matter if Rocco win or lose. What is important is how he enjoyed his Starstruck journey.

Enzo Pineda was crowned 1st Prince. I still believe that Enzo and Sarah should be paired together. Diva should go solo and Steven should be paired with Nina Kodaka.

Half-white and half-Filipino Steven Silva made it as Ultimate Male Survivor. It was unexpected and I’m sure that he charmed his fans and the Starstruck council with his boyish good looks, right attitude and determination to win.

Two to three years from now, who among the Final Five will make it big on local showbiz? It is important to hone their talent at this early point in the showbiz career. They must have the right attitude and they must always keep their feet on the ground.
Being Grateful

February 19, 2010

Life & Love

How many times have you thanked your parents for all the wonderful things they’ve done to you? How many times have you bothered to say “Thank you” to your little boy or little girl who exerted effort to prepare snack for you? Have you ever thanked a boss for a promotion or have you been honestly and openly grateful for having a good-performing staff? Is saying “Thank you” that difficult that is why not every person is capable of saying it with utmost sincerity?

I know of a man who works double time to support his sister’s education when their parents could not support her studies. Is she ever grateful what her brother does for her? Maybe yes. But there is never an instance when she could have expressed that gratitude through words. She probably thought that it’s her brother’s obligation to support her.

I know of an elderly couple who complains about the monthly allowance that they receive from their son. The elderly couple wants to live in a little luxury but the son cannot afford such a lifestyle. He can only provide for their basic needs. They could have thanked him for being a dutiful son but they did the opposite way.

I know of an upper middleclass teener who demands to her parents about the latest this and that. Once bought and given, the teener thought that she earned the stuff given to her. She never bothered to say “Thank you.”

Being grateful and saying “thank you” must be taught at an early age. Being grateful is like acknowledging the favors that we receive; either earned or given. Saying “thank you” promotes a better relationship between the giver and receiver. The giver will feel appreciated while the receiver will feel deserving.
What Happened To Allen Pangilinan?

February 17, 2010

Life & Love

Taken from http://www.helpfindallen.blogspot.com.

Notice to The Concerned Public
Allen is not yet home but we got an information and we assumed that he is just fine.

However, the family would like to request the public to be patient with them and provide them the privacy that they are requesting for now.

We understand and we appreciate all the efforts, support, concern that everyone has put into this situation. Rest assured that all of these are greatly valued by his family and friends.

But as of this time, we cannot give more than what we have already stated so we request for you understanding and we would like to assure everyone that we will provide an update as soon as we get the official statement of the family.

In line with this, we are communicating to the public that the blog and the Facebook group page would be deactivated temporarily.

We do hope for your patience and understanding. Thank you.
Posted by HelpFindAllen at 10:31 PM

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What really happened to Allen Pangilinan? The public sympathized and empathized with his family and friends. The public went out of their way to try to help. The public prayed for Allen’s safety. Now that Allen is confirmed alive and kicking, the public won’t be given a chance to know what really happened? How intriguing!

My opinion on the following theories:
1. Allen was kidnapped- Disagree. How affluent is his family? Kidnap-for-ransom syndicates work quietly and hate publicity. If Allen was kidnapped, his family and friends wouldn’t ask for the public’s help to spread the info about his disappearance.

2. Allen went abroad to celebrate after passing his SAP certification exam. -Disagree. Three ATM withdrawals after the disappearance? Is it possible to use BPI ATM cards abroad?

3. Allen ran away. – Possible. Who knows, he has personal issues that even his family is not aware of? Maybe, he was just trying to cool off elsewhere.

4. The Allen Pangilinan case is just a hoax.- Possible. It could be a social experiment like what they did to Tintin and Julius Babao’s daughter. A group of people wanted to know how the public would react to the little girl’s “death story.” Obviously, the couple was hurt and mad about the whole social experiment thing. If Allen’s case is just a social experiment, then who could be the people behind this?
Help Find Allen

February 16, 2010

Life & Love

I chanced upon http://www.helpfindallen.blogspot.com/ on Pinoy Exchange last Saturday, February 13, 2010. I checked the updates this morning and I’m disappointed and saddened that this young man is still missing for reasons that even his family could not decipher.

How could a sensitive young man just disappear without apparent trace? Nobody seemed to see him on the night that he disappeared; not a taxi driver, not a co-worker, not a police officer, not a stranger. According to his close friends, it is very un-Allen if he would just run away without informing his family or rather if he would put his family into deep worries. His mom has heart problems; a good son won’t bring troubles to his ailing parent.

I talked about Allen (who’s so much of a stranger to me) with my husband last night. Something about his disappearance just keeps bugging me. Are we safe in our daily route to and from work or school? Can we trust the people around us?

Allen and I are total strangers from each other and we don’t live on the same neighborhood. The least that I can do is to spread http://www.helpfindallen.blogspot.com/ so that people may be aware that Allen is missing.