Tag Archives: philippines

Sell House Quick!

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Metro Manila - Quezon City Metro Manila Philip...

Metro Manila – Quezon City Metro Manila Philippines Townhome For Sale (Photo credit: International Real Estate Listings)

Inquirer:

Gusto ko pong advice on How To Sell my house quickly before the end of this year.

I got a few querries from Sulit.com from state agents and private individuals.

However, the state agents in Pinas work differently with what we are used to here in London. In Pinas they want money upfront before they do the job, whilst in London’s state agents works as in ‘No sale No fee’ which is more secure and dependable! And the buyers and the house owners do not communicate directly but through their own representing lawyers. Unlike in Pinas, its very dodgy, they even asked for my bank account to put their payment in without me agreeing with their pulling bet yet! Oh what a Laugh, absolutely ridiculous!

Thank you po.

Guita of Colayco Foundation:

If you are looking to sell fast, there are usually ready buyers however note that you will most likely have to sell it at a low price (lower than market value).

For better or worse the situation is different in London and in Philippines.

If this is your concern it would be best to go through a licensed real estate broker, they will of course charge a certain commission but in return they will handle everything for you.

One of our contacts, Ms. Grace Pekson may be interested in your property please send her an email with details at gracepekson@gmail.com.

Please note that Ms. Pekson is not a member nor representative of Colayco Foundation. Any dealings with her will be between the two of you only and we are not liable for any communications and agreements you may engage with her in the future.

Investing and OFWs

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Abu Dhabi Marina

Abu Dhabi Marina (Photo credit: Ghassan Tabet)

 

 

Inquirer:

 

I am currently working in Abu Dhabi UAE as an OFW. I am very much interested in investing in a mutual fund while I’m still young to ensure not just my financial security but my family as well. What should I do? What will be my first step in doing such investment? and does your foundation also caters investment?.

 

 

 If you’ve read Mr. Colayco’s books then you have taken step 1 to becoming wealthy. It’s good that you want to secure your financial freedom as early as now.

 

 

First thing to do is identify your goals – there are 3 basic things to prepare for
- protection – these are ‘just in case’ funds, you want to be ready for emergencies and calamities
- life goals – this is whatever you want – your future child’s education, yearly vacations, car, house, etc.
- retirement – this is for the day in the future where you will no longer work (hopefully it’s by choice and not because of other reasons like illness).

 

 

You need to be specific. What? When? How Much? and How Much by When? (this last one refers to how the price/cost of what you want is affected by inflation also known as Future Value). The Pera Palaguin Workbook can help you with calculating Future Value and financial planning.
Second is start saving. Set an amount you can save every month and set it aside for investing. Mr. Colayco recommends 20% of your income. If that’s a bit too high, then save what you can and strive to increase it every year.
Third is grow it through investng. Options in the Philippines and Australia are different so you will need to check what are available in both.

Before investing in any instrument, it’s important that you know and understand the risks of investing and growing your money. All legitimate investments are good but not all of them match the investor. We have an upcoming webinar this April which can give you both a good foundation in your financial planning and investing. It will be on April 19, Friday 6-9PM Philippine Time. Learning fee is USD25. Do let me know if you’d like to join us so I can send you details. Pisobilities: Wealth Within Your Reach (Webinar)

 

Colayco Foundation does not sell any investment instruments. I can refer you to KsK Cooperative – an investment coop established to help OFWs achieve their wealth goals. 

 

 

 

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Grow Out of Debt

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Inquirer:

Pwede po bang humingi ng opinyon nio? Gusto ko na po kasing matanggal ang mga utang ko na talagang lumalaki na. Gusto ko lang po malaman if tama po ba ang gagawin ko na man

Manghiram sa bangko para mabayaran ang lahat ng utang ko para isang hulugan nalang?
Kada buwan, kumikita po ako ng net na 50,000. Pero 30,000 po ay napupunta sa mga utang ko sa 3 credit cards at bank loan. Matatapos po ang bank loan ko next 2013 pa po.
Ang nababayaran ko naman po sa ngayon sa mga credit cards ay ang minimum payment lang po. Kaya mas lumalaki ang balance ko kasi may added interest na naman.
Ano po ba ang pwede kong gawin para mawala ang mga loans and debts kong ito? Gusto ko na pong makaipon at maka invest tulad ng sinasabi nio sa mga libro niyo.
Pano po ba ang gagawin ko?
Pagnabayaran ko na ang mga cards, ipapaputol ko na po. Lumaki lang po ito nang mangailangan po ako emergency at dito po ako nakapag advance. Mula 2007 pa po ako nag credit card at maayos naman po ang aking pagbabayad. Kada buwan ay wala akong utang. Ngayong taon lang po ako naging delinkwente.
Thanks po uli.

 

Guita of Colayco Foundation:

First of all, STOP using your credit cards (if you are still using them). Cut the cards in half so that you won’t be able to use them.

Second let us assess the situation: Your income is currently Php50K with Php30K going to loan payments. Is there any way that you can 1) increase your income i.e. consulting work or 2) decrease your spending? As you have seen, paying the minimum on your credit card is not wise – your debt continues to grow.  The key to getting out of credit card debt is to PAY MORE THAN THE MINIMUM. You will need to be very FRUGAL and disciplined in spending only for what is needed. Set aside your wants for the time being. Focus on growing out of debt. The longer you stay in debt the longer and more difficult it will be for you to achieve financial success.

Third, banks do not usually give out personal loans for this purpose. Other credit card companies have a product called Balance Transfer. Its a good product to avail of in cases like yours. What happens is, the balance transfer company will pay off your loans to other card companies so that you have one single debt owed to them. You can negotiate with the company offering balance transfer regarding payment terms. Inquire at several companies so you can negotiate an arrangement that works for you.

Fourth, once your bank loan is completely paid you have the option of doing two things. 1) use the money allotted for the bank loan as additional payment for your other loans this will help speed up your growing out of debt. 2) start your savings – build your emergency fund and cash reserves first then go into investing.
Fifth, once you are debt free consider saving and investing the money allotted for debt payments instead of spending it. You will need to make up for lost time in order to achieve your wealth goals.

What is Social Design?

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Originally on ASIDE, August 1, 2011

Author’s Note: Futurists say that the rate of change is exponential…thinking of things as unchanging will ultimately spell our doom. Given this dynamism, I have issue with definitively defining terms. So what I have here is a working definition… one that will eventually evolve to have v2, v3, v4 and so on. Either accept what has been written here or build on it and redefine it.  You are welcome to do so!

The last thing I want to do is to spew out cut-paste dictionary or wikipedia definitions of what design and social design are. Just type the words – define design – into any search engine – Google, Yahoo, Bing, and you’ll come up with a gazillion possible answers.

In preparing this article, I peeked into how different art schools, design institutes, websites and blogs about design, etc. define design. Initially, I was going to summarize them and try to come up with a generally acceptable definition of design, until I accidentally bit my tongue and realized that’s boring. Plus, I’d already spent three weeks working on this article. Researching definitions would take forever and I seriously wanted to get this article out!

So here goes!

Design is the process and output of visualizing and defining the future. Social design, differs in that, the design process and output is directed toward creating a better future by either envisioning alternative realities or by formulating solutions to existing and foreseen social problems.

On another day I’ll probably deconstruct this working definition and play devil’s advocate with myself until I come up with v2….but like I said, that’s for another day.

I’d like to sum up with this…Of the websites, I did visit, I found an article on desizn tech, to be interesting. Entitled, Do you know “What design is?” 41 Answers to One Simple Question, the article showcased 41 images from creative designers. I particularly appreciated, desizn tech’s own addition to the showcase….

Act Filed for the Creation of a Design Council in the Philippines

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Press release, August 9, 2011 from the Senate of the Philippines, 15th Congress.

Senate Bill No. 2930
Sen. TG Guingona bats for creation of Design Council of the Philippines

SENATOR TG Guingona on Tuesday has sponsored Senate Bill No. 2930 or “An Act Creating the Design Council of the Philippines and for other purposes” that seeks to harness the huge potential of world-class Filipino talents and utilize them for the country’s economic growth and socio-cultural development.

He pointed out that design is a sunrise industry which should be supported by government. “Today, the term ‘Design’ has evolved into a new development paradigm – a discipline that several nations now see as a driver of economic growth and a vital tool for shaping human interactions and social systems,” he stressed.

“Design is the process of taking creative ideas that are borne out of limited available resources, and transforming them into tangible, high-value products, services, and even social systems – and this is what the world has always called innovation,” he said.

He cited Kenneth Cobonpue of Cebu whose furniture design had won accolades around the world for the ingenious integration of indigenous materials with modern production techniques.

“Because of the genius of his innovative design, he is not only bringing in ordinary economy returns. His products bring what is called in economic parlance as very high value export earnings,” Sen. Guingona said.

He said that another example of the great value of design is San Pablo City’s Bottle School Project where softdrink bottles were used to build durable and weatherproof classrooms.

He noted that aside from reducing the cost of building classrooms, the project used recycled materials that would have otherwise added to the city’s trash while addressing the vulnerability of the structure to typhoons.

“This is great example of architecture and industrial design working for social innovation,” he pointed out.

Sen. Guingona also said he had been witness to the power of design in communicating government advocacies more effectively.

He mentioned the 2720 Design Studio which during the Senate Blue Ribbon Committee investigation involving then Ombudsman Merceditas Gutierrez turned the voluminous news articles and facts about the case into clear diagrams and graphic representations of all the evidences.

“Then, the product of their creative and patriotic work was made available as a downloadable file online. In so doing, they not only promoted transparency, but it also encouraged participation from the public because the information was made more interesting and understandable,” he said.

He pointed out that many countries around the world have been successful in adopting design as a national strategy in boosting economic growth, including the United Kingdom, Denmark, and Finland. Our Asian neighbors like South Korea, Singapore, Thailand and Hong Kong are catching up. “But isn’t creativity the very competitive edge of the Filipino race? Are we set to put this vast national asset to waste again?” he challenged.

“I propose that this Bill be our shared and collective response to the vast opportunities right before us; to the fast changing times that we live in, where there is clearly a need to boost the competitiveness of the Filipino design industry, so that it can become a driver of economic growth and social innovation,” Sen. Guingona said.

According to the proposed legislation, the proposed Design Council of the Philippines (DCP) shall be responsible for the promotion and development of the Philippine design industry through the formulation of a comprehensive National Design Policy in consultation with concerned government agencies and design practitioners.

The national design policy seeks to:

  • expand the design culture nationwide by creating demand and appreciation for good design and conceiving effective and sustainable promotional strategies that take social, environmental and economic considerations
  • propagate design as problem solving by conceiving effective and sustainable design-related strategies that drive economic growth through employment and trade and social innovation that is sustainable, efficient and accessible,
  • boost the competitiveness of the Filipino design industry through improvement in design education that will build capabilities, establishing networks and resources for knowledge exchange, provide opportunities to showcase Filipino talent, among others, and
  • build a strong national identity.

The proposed DCP shall be chaired by the Secretary of the Department of Trade and Industry and co-chaired by a sitting representative of the design industry. The industry shall have 14 representatives who will sit as members, composed of two representatives each from the Design Academe, Visual Communications, Information Design, New Media and Technology, Fashion Design, Industrial Design, and Environmental Design.

Click here to read Senate Bill No. 2930.

Interested to know more about the Philippine Design Movement join the Design Para sa Lahat (Design for All) Facebook Group.