Personal Finance, Family and Career

Posts from — May 2011

Scotty McCreery Wins Americal Idol

Congratulations to Scotty McCreery for winning the American Idol.

I actually loved the show especially when Steven Tyler sang. It was fantastic.

Here are a few highlights:

May 26, 2011   No Comments

Lower your Expenses with PERK

I am a big fan of increasing income. But lowering expenses is the other part to get ahead in your financial life.


PERK is a system that Robert Pagliarini, author of The Six-Day Financial Makeover created to reduce expenses.

The PERK System is easy and most people can reduce their expenses by a few hundreds to thousands per month in a matter of minutes. The PERK System consists of just two steps:

Step 1

List  all of your expenses individually and then add them up together. Include recurring monthly expenses like rent, as well as those that occur less frequently which includes car insurance.

Step 2

Next to each expense, write a P for Postpone, E for Eliminate, R for Reduce, or K for Keep.

  • Postpone – These are expenses  that you can putt off for a while. For example, vacation or a new car purchase.
  • Eliminate – These are expenses that you can completely remove from your budget. These are things like gym memberships and cable.
  • Reduce – Any expense that you can lower the amount you pay for. A nice example for this is lunch which you can choose to bring from home
  • Keep – Some expenses can’t be reduced such as mortgage payments

If ever you didn’t reduce your expenses, you should get back to applying PERK to your expenses and make sure you reduce your expenses.

I love this approach and has been my system for a few years now. I must say that I am still working at it and continually applying it on my everyday expenses.

You should try it out.

May 18, 2011   No Comments

Expenses That You Can Cut from Your Budget

There are a lot of things that we may think are little expenses but in reality can add up to a lot of money. Here’s a list of things you’d want to cut from your budget this year.

Expense Daily Monthly Yearly 10 years 30 years
Yosi Php10 Php300 Php3600 Php36000 Php108000
Texting Php20 Php60 Php720 Php7200 Php216000
Softdrinks Php60 Php1800 Php21600 Php216000 Php648000
Starbucks Php150 Php4500 Php54000 Php540000 Php1620000
Magazines NA Php125 Php1500 Php15000 Php45000
Lotto Php50 Php1500 Php18000 Php180000 Php540000

The amount that is being wasted on such expenses can still be increased. Imagine if you invested the money earning 10% per annum. It would be significantly higher.

May 15, 2011   No Comments

Why I am investing with BDO Easy Investment Plan

The Automatic Millionaire is one on best books I’ve read on personal finance. It is a great motivator for you to save. It is also has a sound plan.

  • Pay Yourself First
  • Make it Automatic

This brings me to BDO’s Easy Investment Plan, which in this case follows the following principles. With as much as Php 1,000 monthly, BDO will withdraw and invest it to your UITF of choice automatically just like clockwork.

Aside from this, BDO’s UITFs has one of the best UITF performances in the UITF market. It also has the lowest fees.

Come to think of it, since I am planning to invest some money in an educational plan, I might as well open one again with BDO with the Easy Investment Plan(EIP) and use it as a “sort of” educational plan since I am having some problems finding suitable pre-need companies that offer educational plans in the Philippines.

May 13, 2011   No Comments