One of the best ways to manage your budget is to use The Envelope System. This budgeting method is so effective that it has become one of the recommended tools for personal finance. I’ve already written about this topic before and if you’d like to know my personal 8 step action plan to creating a [...]

I asked some of my friends if they have a checking account and most of them said they have none. This doesn’t surprise me because opening a checking account is not usually a priority among people. However, as your journey in the world of personal finance continues, chances are you’ll eventually need to open a [...]

Should you set aside money for your savings if you have debts you need to pay? My straightforward answer is YES. But wouldn’t it be wise to pay all your debts first (specially credit card debts) and then work on your savings afterward? By doing this, you’ll pay less on interests and you’ll get to [...]

Having an emergency fund is a necessity for everyone. It’s quite common sense to always have readily available cash for unforeseen expenses. However, despite this fact, many do not have an emergency fund. And even if they do, it’s usually not enough. I asked some friends if they have an emergency fund and fortunately, 6 [...]

If you want to take control of your financial life, then you need to learn how to properly organize and keep your financial records and personal documents. I know some people who actually don’t like filing such papers but I believe that it’s really a necessary task if one wants to move ahead financially. Putting [...]

Are you done with your Christmas shopping? I bet your list is not yet complete because no matter how often we hear the immortal advise to shop early for Christmas, we tend to still continue buying gifts all throughout the holiday season. Personally, I start my Christmas shopping during the first two weeks of December. [...]

Learning about the U.S. Fair Debt Collection Practices Act from playing the Bad Credit Hotel online game made me wonder if such laws also exist in the Philippines. I know some people who have been harassed by credit card debt collectors and suffered a significant amount of humiliation from their family members and colleagues because [...]

Are you suffering from too much debt? If so, then maybe you need to spend a night at the Bad Credit Hotel. This online game was commissioned by the U.S. Treasury and the Advertising Council in America. It hopes to teach young people about responsible credit card use and educate them regarding debt management and [...]

You probably heard of it before, the concept of good debt versus bad debt. If not, then I’m excited to tell you about it today. Moreover, did you know that there’s also such a thing as ugly debt? I first encountered this term a few days ago and I’m also sharing my thoughts on this [...]

Are you headed towards a financial disaster? You may not know it yet but your current lifestyle could be leading you into a pit of debt. Financial problems usually creep and go unnoticed until it’s already too late and out of control. That’s why we need to be aware of the early stages of these [...]