Sunday, January 4, 2015
$25,000 per year ------- $2100 per month ($70 per day)
$2100 x 12 = $25,000 per year
2016 = $25,000
2017 = $25,000
2018 = $25,000
2019 = $25,000 ------------ $100,000 per 4 years
2020 = $125,000
2021 = $150,000
2022 = $175,000
2023 = $200,000 ----------- $200,000 after 8 years
2024 = $225,000
2025 = $250,000
2026 = $275,000
2027 = $300,000 ----------- $300,000 after 12 years
2028 = $325,000
2029 = $350,000
2030 = $375,000
2031 = $400,000 ----------- $400,000 after 16 years
TOTAL after 16 years
(cost of house)
Monday, December 23, 2013
Changing a primary email address in paypal is very important especially if your primary email is compromised or disabled. This is the email address where transaction information is sent. Unfortunately, Paypal has inaccurate terminologies regarding bank account numbers.
The message says that before changing your primary email address, the system wants to make sure that you are the owner of the account and thus it is asking your full bank account number.
The word "FULL" that was used is misleading and incorrect. I have tried putting in the complete 5 digit branch code, the 3 digit institution code, and the 7 digit account number. This failed.
Next I tried to input only the branch code and the account number, it failed again.
I have to wait for one day for fear that after 3 attempts, the system might lock out my account.
So the next day, I just entered the 7 last digits of my account number, and lo, and behold, it is finally a success.
How to change primary Paypal email address:
1. Log in to Paypal
2. My Account
4. Add or Edit email
5. Add new email address
6. Go to your new email and press to Confirm
7. In Paypal, My Account
9. Add or Edit email
10. Select the (confirmed) new email address
12. After it is confirmed, select this new email address
13. Make Primary
* At this point, it will ask you to enter the "Full" bank account number"
14. Enter the last 7 digits of your bank account number
Some people said they have succeeded in putting just the last 6 numbers of their bank account.
Paypal should define precise formatting of the required bank account numbers.
Saturday, August 24, 2013
Sample FINANCIAL AUTHORIZATION LETTER
24 Aug 2013
To: ABZ FAMILY BANK - Legaspi Branch
Re: Authority to Withdraw and Deposit Funds
This letter is to authorize Jane Smith to act on my behalf regarding my bank account number 1234-5678-90.
I am giving my authorization to the above mentioned representative to withdraw and deposit money while I am out of the Philippines.
234 Queen Rd.
A2B 1C3 Canada
MORTGAGES, LOANING, OWNING, BUYING, REFINANCING, SELLING, MAINTAINING a Home, House, Condo, Property, Real State:
Sunday, December 16, 2012
- Save money regularly
- Setup your investment goals and financial objectives
- Establish an excellent relationship with your financial adviser
- Make sure your financial adviser understands your financial plan for the future
- After your financial adviser understood your financial objectives and goals, he/she should come up with a printout that outlines your financial plan indicating your financial goals, current financial situation, personality, age, degree of conservativeness, level of aggressiveness, and risk tolerance.
- Your financial adviser should come up with an investment strategy and investment portfolio tailored according to your financial situation, preferences, risks levels, expectations, goals, plans, and objectives
- Ensure a regular automatic investment amount taken monthly, bi-weekly, or weekly debit from your bank account
- Diversify. This is an essential investment strategy as it allows a reasonable asset mix of the types of investment for your portfolio allowing you to compensate for loses as well as take advantage of substantial gains
- Contribute regularly to your Registered Retirement Savings Plan (RRSP) as its growth is sheltered from tax
- Regular updates, new information, monitoring and analysis of the performance and opportunities of your investment portfolio
- Ask for recommendations, solutions, and strategy on how to meet and attain your financial goals and investment objectives
- Feel free, open and honestly bring out questions and concerns to your financial advisor and make sure you understand his or her answers, explanations, and solutions
Saturday, December 15, 2012
- Pray. It takes away your worries.
- Take care of yourself and your loved ones. Health is wealth!
- Love your job. Once you found a great job, you enjoy it, and extremely happy with your work, stick to it unless you have a far better alternative and absolutely sure it's worth it
- Save money on a regular basis and set it up automatically by direct debit from your bank account
- Save extra money for sudden financial emergencies and contigencies
- Be insured. Get life insurance, home insurance, auto, car (vehicle) insurance, and other necessary insurances to ensure peace of your mind
- Fund a registered retirement savings account
- Eliminate your debts. The longer they stay, the more painful it is for you
- Prepare for the unexpected
- Buy only what you need
- Control your spending
- Monitor and keep track of your income and expenses. Record daily expenditures so that you know exactly where your money is going
- Have only one credit card and keep your credit limit as low as possible
- Pay the full balances of all your credit cards to avoid those sky-rocketing interest rates which brutally rob you
- Pay your bills on time to maintain a good credit rating and excellent credit history
- Setup pre-authorized monthly debit to pay your bills and get rid of headaches and hassles
- Develop and implement an effective realistic monthly budget
- Set your financial goals on the short term (less than 5 years), intermediate (5-10 years) as well as long term (over 10 years) objectives
- Know your financial priorities. Avoid temptations
- Invest and diversify your investment portfolio
- Invest on things that appreciate in value over time (such as education, real state, property)
- Whenever you plan to loan or borrow money, make sure you have a working plan to repay it on time and thus minimizing interest rates and avoiding unwanted fees
- Seek the advise and help of financial advisers, counsellors, and financial experts
- Ensure that you have an up to date Will and Power of Attorney
- Do whatever it takes for the good of yourself, your family, relatives, community, country, and to the world. All good works will never bear bad fruit.
- Don't cheat yourself and others
- Don't buy what you can't afford
- Don't spend more than you earn
- Don't use your savings to pay your bills
- Don't use money set aside for something to use it for another thing. Never do this!
- Don't take it for granted. Avoid those "Buy now, pay later", "No payments 'til next year" schemes and traps
- Don't borrow from one creditor to pay another debt. Don't use a credit card (or withdraw cash advance) to pay another credit card company
*** :) ***
Relax. Time is your friend. Grow old gracefully with peace of mind! Enjoy the rewards of your hard labour throughout those years!!!
Types of investments:
1. Cash investments
2. Fixed income investments
3. Equity investments
- ease of withdrawal whenever a need arises
- lower rate of return
- very little risk of losing
Examples of cash investments:
- GIC (Guaranteed investment certificate)
- Savings accounts
- T-bills (Treasury bills)
- Money market funds
- Money market mutual funds
Fixed income investments
- fixed rate of return on your investment
- lower investment risk
- generates a fixed amount of money for a certain amount of time (term)
Examples of Fixed income investments:
- Savings Bonds
- Government Bonds
- Mutual funds
- Fixed income mutual funds
- more risky than fixed income investments
- unpredictability of future growth
- although they are risky, equity investments have also the potential for bigger returns
Examples of equity investments:
- Local company or foreign stocks
- International stocks
- Global stocks
- Stock mutual funds
- Equity stocks
- Equity or Balanced mutual fund
How to diversify on the types of investments for your personal investment portfolio:
Diversification is the key. In order to diversify, you must have a balanced and correct mix of cash investments, fixed income investments, and equity investments so that you can achieve success on your financial goals. By diversifying, the potential gains from one type of investment will cover the probable loses of another type of investment. To learn more about how to diversify your investments and receive expert and professional advise, speak and discuss with your financial adviser.
This list below is by no means a complete representation of income and expense. The main purpose of listing these variables is to serve as a guide for budget calculations and management of personal finances. Financial planning plays a key role in personal financial success. Another factor for effective money management is control of cash flows. Thinking about the future is essential to successful later in life, which makes sense when you invest at the early stages in life. Here are just few of important points to consider when you plan a budget. Note that these would vary from person to person with different lifestyles, tastes and behaviour towards spending money.
Monthly salary from employer
Goods and services taxes
Group insurance from employer
Group pension/retirement plan from employer
Savings for retirement (RRSP)
Savings for house/condominium/property purchase
Saving for car purchase or car replacement/lease
Saving for car/vehicle maintenance
Savings for consumer electronic products & home entertainment system
Savings to buy furniture
Saving for vacations, travels, visits, leisure trips
Savings for emergencies & unexpected costs
Food and drinks
Credit card debt payments
Personal grooming and maintenance expenses
Clothing and accessories
Recreation, fun, and entertainment expenses
Health, well-being, and physical fitness fees
Social relationship and dating expenses
Birthdays, celebration, special occasions and events
*** Failure to have a personal budget analysis, planning and control would often result in budget deficit.