OF SECRET AFFAIRS AND PERSONAL FINANCE

"Love ceases to be a pleasure, when it ceases to be a secret." - APHRA BEHN, The Lover's Watch, Four o'clock

Okay, okay.  Here we go again.  By the way, this has been requested by my colleagues after the success of my "No Other Woman" personal finance blog...=)
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But first of all, I would like to say that the PH movie industry has found a way to titillate the public once again with these fantasies about other women, mistresses and secret affairs....si Pinoy as the lover boy, "kasalanan ko ba kung mapagmahal ako" type and "basta driver sweet lover"....at si Pinay naman na matiisin, martyr, "para sa pamilya at mga bata" type....
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What I'm just most concerned about is how our youths and children taking all these kind of movies.....are we promoting the RIGHT values?....there has been several newspaper write-ups about this concern....maybe the movie producers are saying, there is a "moral lesson" naman in every story....but is that enough???  ahh, it's all about making money!!!
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Anyway, this blog is how can we relate this "secret affair" to personal finance...
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In the movie, "A Secret Affair", the guy (Derek) had a "thing" going on with another girl (Andi) but he can't tell his "special one" (Anne) because he was afraid of losing her (Anne)....to cut the story short, Derek ends up losing Anne because he was not able to control himself with Andi who was pretty aggressive in getting what she wants....
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Derek is like anyone of us who can't stop our BAD PERSONAL FINANCE HABITS (i.e. Andi)....we continue to live beyond our means....we continue to spend and use our credit cards even though we can't pay them in full come due date....we continue to live our "lavish lifestyle" despite our limited resources....we are unable to control ourselves in buying the latest gadgets, smartphones, tablets, laptops, cars...we don't know how to budget...also, may I add, we continue to ignore that pesky insurance agent despite knowing that we need life insurance or we need to start saving for our kids' college funding....=)...we are always stressed out, we always want more, we feel out of control...we keep on saying "bahala na"...
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Andi, on the other hand, always comes in a "nice package"...one of her lines in the movie was “I’m surprised you didn’t notice the different cup size!!!”...WOW!!!...Andi is all over the place, in malls, in billboards, on TV, in social medias.."hit LIKE if you want the new iPad MINI or the latest Android phone"...Andi will use her marketing tools to keep you buying and spending..."0% interest if you buy NOW!!!"....she knows your "psychological weaknesses"...how to push your button....she bombards you with your WANTS and not just your NEEDS...."SALE, SALE, SALE"
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Who can Anne be?....I can see her in two ways...Anne can be your personal finance coaches, your Efren Ll. Cruz, your J. Randell Tiongson, your Registered Financial Planners (RFPs), your financial advisor friends who continue to "show love" and remind you that it's not too late to change....that you can improve your financial situation....but you need to start budgeting, saving, paying your debts, protecting yourselves now while there is time....Anne can also be like us, the general public, who "finally decides" to stop this mess, that it is time to TAKE CONTROL of our financial situation....that its time to WORRY LESS, LIVE A HAPPY AND BALANCED LIFE by making the right financial choices and decisions....lastly, we can be like Anne by deciding to stop watching this 'non-sense" movies and spending our TIME AND MONEY WISELY....=)
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“Marriage is not a simple love affair, it's an ordeal, and the ordeal is the sacrifice of ego to a relationship in which two have become one” - Joseph Campbell

Hope this helps.
Ge

Gerald Cantor is a Financial Adviser of Pru Life UK, a Registered Financial Planner graduate,  and a  Certified Public Accountant.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, and most importantly, a "proud" dad of Gia (5yo) and Clarie (3yo). 

Why I Love LIfe Insurance by John Todd

Why I Love Life Insurance

         “ I like being a Life Underwriter Because there’s no worry about safety. There are no labor problems that I can’t cure myself.  I love to create dreams and help in their realization. I like people to trust me. I like people to tell me all about themselves. I like knowing that my boss won’t be angry if I make more money than he does. I like knowing that no one has to die or retire in order for me to make progress. I like working at something where the sky is the limit. I like knowing that when I make a dollar my client may make many more. I like the security that comes with my skills in selling, which no one can take away from me. I like the thrill out of influencing people’s minds to sound conclusions for their benefit. I like my independence. Most of all I like the realization of the indispensable nature of the salesperson in the scheme of things. Those who have gone before us through their accumulated knowledge and experience have handed Alladin’s lamp of those of us who come after, and if we will but use the magic of the lamp there is no limit to our capacity to add to the store of Human Welfare “

                                                                                John Todd

Hope this helps.

Ge

Ge Cantor is a dedicated Financial Consultant of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines (www.personalfinance.ph)., a Registered Financial Planner graduate (www.rfp.ph), and a Certified Public Accountant.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a lay minister and most importantly, a "proud" dad of Gia (4yo) and Clarie (3yo).   

 

The Prodigal Pre-Need Industry What Should One Consider When Buying A Pre-Need Plan

Here's my first article in MoneySense magazine (May-June 2012 issue). 

The Prodigal Pre-Need Industry What Should One Consider When Buying A Pre-Need Plan

Of Dolphy and Personal Finance "Pick Up Lines"

As a tribute to the King of Comedy, I will "try" to be funny about personal finance words using "pick up lines"...

Here it goes...

(Man) Bangko ka ba?......(Woman) Bakit?...(Man) Kase lagi akong nagbibigay ng pera sa iyo, pero katiting lang ang kinikita ko....

(Man) Piggy bank ka ba?....(Woman) Bakit?...(Man) Kase hindi ka "napupuno" kahit kupit ako ng kupit sa iyo...

(Man) Pera ka ba?...(Woman) Bakit naman.?.... (Man) Kase ang hirap mong kitain pero ang bilis mong mawala....

( Woman) Suweldo ka ba?...(Man) Bakit naman?...(Woman) Kase palagi kang hindi nagtatagal at dumadaan lang sa palad ko....

 (Man) Bills (Meralco, Maynilad, etc.) ka ba?...(Woman) Bakit?...(Man) Kase lagi kitang iniisip at hinihintay...


(Man) ATM ka ba?....(Woman) Bakit?...(Man) Kase lagi akong natutuksong mag-withdraw sa yo....

(Man) Credit Card ka ba?....(Woman) Bakit?...(Man) Kase lagi akong natutuksong gamitin ka....

(Woman) Utang ka ba?....(Man) Bakit?...(Woman)  Kase gusto kita laging pagtaguan pero di ako makatakas sa yo...

(Woman) Life insurance ka ba?....(Man) Bakit?....(Woman) Kase nuong una akala ko di kita kailangan, pero ngayon, I realized, you give me "peace of mind"....

(Woman) Life insurance agent ka ba?....(Man) Bakit?....(Woman) Kase I'm not attracted to you but YOU COMPLETE ME....

(Man) Investments ka ba?....(Woman) Bakit?...(Man) Kase hindi kita maintindihan pero you make me feel rich!...

(Man) Stock Market ka ba?...(Woman) Bakit?...(Man) Kase our relationship is laging up and down...

Whew!!!  =)

Hope this helps.

Ge

Ge Cantor is a dedicated Financial Consultant of Pru Life UK (www.prulifeuk.com.ph), a Financial Planning Advocate of Personal Finance Advisers Philippines (www.personalfinance.ph)., a Registered Financial Planner graduate (www.rfp.ph), and a Certified Public Accountant.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a lay minister and most importantly, a "proud" dad of Gia (4yo) and Clarie (3yo).  

Dangers of "TSAKA NA LANG!"

“Life's tragedy is that we get old too soon and wise too late” - Benjamin Franklin

I'm currently in Hawaii since my Mom now lives here.  After her birthday last May 29, she was rushed to the hospital one early morning as she felt very weak and her feet were sore.  She was diagnosed as having chronic kidney failure so she had to undergo several dialysis treatments until now.  Aside from that she had a double bypass surgery the other day.  She already came out from ICU and is now recovering very well.

Prior to going to the US about 3 years ago, she already had diabetes and she brought all her medications with her.  One of the problems were she was doing self-medication for the past 2 years and it was only recently that she had a proper checkup with a doctor in Hawaii.  She used to say "tsaka na lang" as she was quite busy with work.

As I was watching her in the hospital today, I was reading Dan Ariely's Predictably Irrational - The Hidden 

Forces That Shape Our Decisions".  The chapter I read today is about "The Problem of Procastination and Self-Control" (Why We Can't Make Ourselves Do What We Want to Do.

He talked about Americans having big homes, big cards, big screen plasma TVs but the problem is they have the biggest decline in personal savings rate..that Americans have succumbed to rampant consumerism...and the recent explosion of consumer credit...i.e. the average American family has six credit cards...

He then asks..why can't Americans learn to save part of their paychecks, as they know they should?  Why can't they resist those new purchases?  Why can't they exert some good old-fashioned self-control?

To add further, we promise to save for retirement, but we spend the money on a vacation or big purchases.  We vow to diet, but we surrender to the allure of the dessert cart.  We promise to have our cholesterol checked regularly and then we cancel our appointment.  WHY DO WE LOSE THE FIGHT AGAINST PROCRASTINATION SO FREQUENTLY?

Dan Ariely defined procastination as simply "giving up on our long-term goals for immediate gratification."

Anyway, this "tsaka na lang" o procastination problem is everyone's problem, whether American o Filipino.  

Lessons learned:

• In health, preventive medicine is generally more cost -effective than remedial or corrective approach.  Prevention means getting health exams on a regular basis and LIVING A HEALTH LIFESTYLE before problems develop.
• In personal finance, we often hear PAY YOURSELF FIRST.  This means every pay check, save first before you spend.  But this is SO HARD TO DO for most of us!!!
• In terms of insurance, my prospects would often say "tsaka na lang" ako kukuha ng life insurance or critical illness.  Di ko pa kailangan.  Then. they will often ask you later pag may sakit na sila or they are uninsurable already.
• In the bible, John the Baptist said that we need to change our ways for the Kingdom of God is at hand.  But normally, we only change AFTER going through some personal crisis....
• In our relationships, we often take for granted the people who are close to us....Carole King sang "and it's too late, baby, now it's too late...though we really did try to make it...something inside has died..."
• In sports, before the Bradley boxing match, Manny Pacquiao said "tsaka na lang" ako lalabas, nanunuod pa ako ng Boston Celtics vs. Heat game...nagalit tuloy mga judges sa kanya...=)

While in the hospital, I met Manang Teofila, she is a 71 years old Filipino immigrant and she is a cleaner here.  I said to Manang that I am impressed with her that despite her age, "masipag pa rin sya" coz she is still working.  She said na "kailangan ko pa rin magtrabaho kase para makatulong sa mga apo ko sa Pilipinas na naka depende sa akin."  She further explained that "wala naman kase ako naiipon kase pag may kailangan ng tulong sa pamilya ko sa Pilipinas eh nagpapadala ako.  Katulad nun pinambili ng jeepney ng anak ko."

What would you feel if you heard her story???  She is already 71, still working hard, and yet has no savings for her retirement... I was an OFW before and I "emphatise" with Manang Teofila.  I used to say when I was earning British pounds, "tsaka na lang ako magiipon kase I need to enjoy life while in a foreign country and as long as I support my family."

Procastination.  Tsaka na lang.  Bahala na.

Do we really have to wait for a "painful" experience before we can change for the better???

Hope this helps.

Ge

CORONA and Personal Finance

"Hindi po ako nagmamarunong dito, ginagamit ko lang ang konsensya!.  Ang sinasabi nya ay isang picha pie...." - Sen. Lito Lapid




Finally, the impeachment is over!!!  We can all go back to work?!?! =)


For the common Filipino, here are 3 personal finance principles I can relate with CJ Corona's impeachment:


1.  Know your Statement of Assets, Liabilities and Net Worth (SALN).  More importantly, be honest with yourself and declare your true net worth.  Even if you have more liabilities than assets, at least you know where you are now, financially...the next step is to devise a plan on how to improve your SALN...


2.  Health is really Wealth.  No matter how much dollars savings you have, do you prefer to be walking and enjoying your wealth or in a "wheelchair"?  Do you want to be like JPE, he still have a sharp mind at his age?


3. Don't be "Palusot".  We all like to make "palusot" in delaying that savings plan for ourselves and our kids' college plan, in budgeting our expenses, in getting that life insurance....Stop making "palusot" na...=)


Hope this helps.


Ge

BORACAY and PERSONAL FINANCE

"God is now here or God is no where?" - Priest from Boracay

Last Holy Week, my family (wife and kids) spent our time in the beautiful island of Boracay...I know it's a not-so-holy place, but somehow the priest hit the right homily during Easter mass...is God now here or is God no where in Boracay?
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Anyway, let's stick to personal finance matters...
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First of all, I would like to thank my sister in-law who made the trip possible...she shouldered the plane fare, hotel accommodation and even gave us some pocket money!!!...I guess the first tip I can give you on saving for that family trip is to find a generous sponsor for your vacation....=)
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On plane fares....book early...the earlier the cheaper...however, be warned that a "Piso" fare (by Cebu Pac) or an "Itlog" fare (recent promo by Air Phil express) is not really P1 peso or FREE....of course, you still have to pay for taxes, surcharges, etc....
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On hotel accomodations....we all have different expectations when it comes to hotels...on a financial/savings stand point, as long as its safe, clean, with basic amenities, close proximity to restaurants/tourist spots, "pwede na yan"....do you really have to stay in Boracay Regency with a swimming pool but its beach front is full of "lumot"?...
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On food trips and restaurants....while in Boracay, I came to appreciate Mang Inasal and Andok's since they seem to be the only well-known resto chains there that offer reasonable prices....the rest are a little bit expensive with "pang-foreigner" prices....ok, enjoy the fine dining or beach front dining once in a while....basta within "budget" ha....
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On attires and dress codes...no need to buy those expensive board shorts, tank tops, bikinis...ang dami nga walang suot....na pang-itaas...=)....alright, I have to accept that some people really go to the beach to "make porma"....actually, parang fashion show nga minsan...pagandahan ng shades/hats/dresses then kunwari may abs....=)
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On gadgets....do we really need to bring ALL our gadgets?...our DSLR camera with tripod plus touch screen cellphone plus iPad/Galaxy Tab plus music player with matching big headsets plus laptop....come on...just chillax....some foreigners only brought a "book" while sun bathing...
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On banana boats and island hoppings....ok, I guess we need to experience and explore once in a while...all I have to say is as long as its within budget....=)
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All in all, its always good to have a break and unwind especially with your family....as long as you don't have to break your piggy bank or worst, charge everything to your "maxed out" credit card....
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~ Time's fun when you're having flies! - Kermit the Frog

Hope this helps,

Ge

LESSONS FROM "LIN-SANITY" (THE JEREMY LIN STORY)

Wow, when I first read and saw about the success story of Jeremy Lin, I just got excited and I said that I need to write about this kid! LIN-sanity!  LIN-possible!  LIN-mania! LIN-king! 

How did a Harvard Graduate (with a degree in Economics), an Asian-American (his parents are Taiwanese who migrated to the US in the 70's), and a devout Christian is currently making waves in the NBA and has helped the New York Knicks win 7 straight (as of date)?

Based on his interviews, I picked up some lessons we can use in our daily challenges in life:

• TRUST IN GOD!  He always says he is blessed and he is thankful to God's perfect will and God's fingerprints all over his story;  He also says that basketball is his calling and his purpose in life is to glorify God in everything he do! REFLECTION:  "DO WE TRUST IN GOD WHATEVER OUR SITUATION IS RIGHT NOW?

• BELIEVE AND WORK HARD.  He wanted to play with Stanford  or UCLA  in college but didn't get noticed.  He went undrafted in the 2010 NBA draft but he continued to trust in himself and work hard. REFLECTION:  "SO WE GOT REJECTED SEVERAL TIMES, WE ARE DOWN, WE DID NOT GET WHAT WE WANT, ARE WE JUST GOING TO GIVE UP OR CONTINUE FIGHTING IN LIFE?"

• HUMILITY.  "It's not just me, it's the team."  He always gives credit to his coach and teammates. REFLECTION:  "IN OUR SUCCESSES, DO WE GIVE CREDIT TO OTHER PEOPLE WHO HAVE HELPED US OR ARE WE ALL ABOUT ME, MYSELF AND I?

• SCHOOL FIRST.  He loves basketball, but he pursued and graduated from Harvard with an Economic degree.  REFLECTION:  "DO WE STILL VALUE EDUCATION?  ITS THE GREATEST GIFT THAT PARENTS CAN GIVE TO THEIR CHILDREN!"

•  RIGHT PLACE, RIGHT TIME.  Being a stereotyped Asian American with a 6 feet 3 inches frame (not as big as the 7 foot Yao Ming), J Lin has to continue to prove his worth from high school, college and even in the NBA to earn his spot.  REFLECTION:  ARE YOU CURRENTLY UNHERALDED, UNDERAPPRECIATED AND UNDERRECOGNIZED BECAUSE OF YOUR RACE, COLOR, STATUS, PHYSICAL LIMITATIONS, MAYBE YOU JUST NEED TO BE PATIENT AND TRUST THAT ALL WILL HAPPEN IN GOD'S TIME?

Hope this helps.

Ge
 

Gerald Cantor is a Financial Planning Advocate of Personal Finance Advisers of the Philippines (www.personalfinance.ph), a Financial Consultant of Pru Life UK (www.prulifeuk.com.ph), a Registered Financial Planner graduate (www.rfp-philippines.com), and a Certified Public Accountant.  Ge is most proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (3yo).  

WE ARE NOT 100% SURE...

We are not 100% sure that...

...we will impress our friends and coworkers, but we still buy that new shirt or dress 
...we will use all its features, but we still buy that latest gadget (i.e. cellphone, laptop, etc.)
...we will jog or run every week, but we still buy that new and a little bit expensive running shoe ...we will improve our game, but we still buy that latest Kobe or Le Bron sneakers 
...we will lose weight, but we still enroll in an expensive gym or buy that home gym equipment
...we will always be on time, but we still buy that Rolex or Tag Heuer watch 
...we will always have lots of money in our wallet, but we still buy that Hermes or LV bag 
...we will always have that youthful face, but we still buy those facial products 
...we will wear all those bling blings, but we still buy those jewelries 
...we will be able to shoulder increasing gasoline prices and cost of maintenance, but we still buy that new car 
...we will enjoy the trip, but we still buy that plane ticket and book that hotel
...we will be successful in business, but we still buy that franchise or invest in a new venture
...we will earn more than the inflation rate, but we still put ALL our money in banks 
...we will be safe and be fully maintained in the future, but we still buy that condominium 
...we will earn and be successful, but we still invest and join that new network marketing co. 
...our children will be successful in the future, but we still enroll them in the best schools

On the other hand, we are 100% sure that we will die, but we still don't buy that LIFE INSURANCE 

Please get one not for yourself, but for your family, loved ones, and dependents... 

Hope this helps.


Ge

Gerald Cantor is a Financial Consultant of Pru Life UK, a Registered Financial Planner graduate, a Certified Public Accountant and a Certified Internal Auditor.  Ge is proud to be an ex-OFW, a "career-shifter", a baller, a newby entrepreneur and most importantly, a "proud" dad of Gia (4yo) and Clarie (3yo).  

Why people don’t like to buy life insurance

Why people don’t like to buy life insurance