Tuesday, May 24, 2011

Financial IQ: Money issues during marriage?

"The Proposal" by William-Adolphe Bo...Image via Wikipedia
Financial IQ Philippines Quick Hit(s):

Nice tip from one of the industry's best Financial Advisor, Henry Ong.


I heard many stories about marriages that failed due to money problems. I am planning to get married in a few months and I don’t want to have problems with my partner about money in the future. We are both working professionals but we differ in our spending habits. Can you give me some advice on how to manage our money when we are already married?—John Christopher via e-mail


Before I answer your question, let me ask you these: Have you tried discussing with your fiancée about managing money together? How well do you know each other’s lifestyle when it comes to spending? Do you have enough savings to start a family?


Very often, many couples who are about to get married do not discuss money matters. Instead, they reserve judgment based on their impression of their partner’s job and family background. Many couples avoid talking about money for fear that one partner may disapprove or feel offended. The only time that money is seriously talked about is when there is already a financial problem that threatens your marriage. For example, you are consistently missing paying your monthly amortization because you could not manage your cash flows anymore or your wife has already accumulated mounting credit card debts without your knowledge.


To establish a harmonious financial life, it is essential that you initiate an honest discussion with your fiancée about money. Decide how you two are going to share your expenses at home. If your fiancée earns more than you, you must resolve how much you want to contribute and in what way. Discuss with your fiancée your long-term financial goal as a couple. How much do you need to save together so you can buy your own house and have children later on? These are some of the issues and questions that you need to address during the discussion.



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Thursday, May 19, 2011

Financial IQ: Appetizingly low fares to China and more! Fares start from P499!

Montage of various Taipei imagesImage via Wikipedia
Financial IQ Philippines Quick Hit(s):

I don't know how Cebu Pacific can keep on giving good deals... but these are definitely keepers!


We're having a seat sale to China’s key cities - Beijing, Shanghai, and Guangzhou, as well as Taipei in Taiwan starting now until May 20, 2011 or until seats last. This is valid for travel from July 1 to September 30, 2011.


Your appetizingly low fares can be bought for as low as P1,499 from Manila to Taipei, and P1,999 from Manila to Guangzhou, Shanghai and Beijing. Cebu Pacific flies from Manila to Shanghai and Taipei daily, and to Beijing and Guangzhou thrice weekly. 


Hike the Great Wall in Beijing, bike around Shanghai, or explore the Xiangjiang Safari park in Guangzhou, this seat sale offers the perfect reason to simply get out there and enjoy travelling.
Choose from 11 other Philippine travel destinations also on sale! Seats from Manila to Naga, Tuguegarao and San Jose are yours for as low as P499.  Manila to Bacolod and Iloilo are also available for the discounted fare of P599. While our Manila to Tacloban flights are selling at the reduced fare of only P699.


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Wednesday, May 4, 2011

Financial IQ: What is Fire Insurance?

MENLO PARK, CA - DECEMBER 09:  Menlo Park fire...Image by Getty Images via @daylife
Financial IQ Philippines Quick Hit(s):

When insuring property for fire, make sure the coverage excludes the value of lot.


Fire Insurance is a coverage against loss of property by fire.  This covers the property improvement but not the land.


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