Is it still safe to put your money in the bank?
Filed under: banking, Economy, entrepreneur, feedback & reviews, finance, Money, Philippine, Reaction, roysville
With, yet again, the closure of Banco Filipino Savings and Mortgage Bank last week by the Bangko Sentral ng Pilipinas (BSP), the simplistic mind of Juan Dela Cruz cannot help but ask, “Is it still safe to put your money in the bank?”
True, bank deposits are insured by the Philippine Deposit Insurance Corp. (PDIC) to a MAXIMUM of P500,000 PER depositor. In fact, PDIC is now already processing deposit insurance payments to the depositors of Banco Filipino. But we all know that claiming your money from a closed bank is not a walk in the park.
Investing in pre-need companies have failed us. IT FAILED ME! I wanted to be a responsible father who prepared for his kids’ future, so invested in CAP… and BANG! Just like that. Everything went down the drain. No thanks to our government who seems to do nothing to help alleviate our plight.
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Laundry Business Seminar for February 2010
Filed under: Announcement, Articles, Business news, business opportunity, entrepreneur, Entrepreneurship, Events, management, Money, self-help, seminar, service, trainings and seminars
For those who are asking, here’s the laundry business seminar schedule for February 2010 by my friend Nette.
Schedule of the next seminar is FEBRUARY 27,2010
It will start 9:00 am to 4:00 pm or till end of open forum
For the seminar, here are the topics to be discussed:
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Checking account management
Filed under: entrepreneur, finance, management, Money, roysville
In my early years in the bank, one of my first assignments was as a CA/SA bookkeeper. One of my duties then was to monitor the balances of checking and savings accounts of our clients. Although I was more particular on the checking accounts, and I have closed quite a number of accounts then because some people don’t how to manage checking accounts.
We all know that a checking account is an important tool to an entrepreneur. Aside from it being a convenient way of paying obligations, it also allows for easier recording and monitoring of expenses. However, as great as a financial tool it is, the checking account can cause the entrepreneur’s downfall when improperly handled.
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“Paying for insurance is voluntary”
Filed under: Announcement, business, feedback & reviews, management, Money, Philippine, Reaction, scam, Transportation, warning
Last Saturday, after attending iBlog5, my friend Zorlone was kind enough to drop me off in Monumento so I can conveniently ride the bus at the Victory Liner terminal.
As I went towards the cashier to get my ticket, I noticed a sign on the cashier’s window which says something like “paying for insurance is voluntary” and I remembered that Victory Liner charge their passengers for insurance when you pay for your fare at the terminal.
Since I haven’t been travelling for quite a long time, I asked the cashier how much is the fare up to Dau, where I would get off (the bus I’m riding will be going to Dagupan), to which she answered P122.00, so I gave her P125.
She gave me my P3 change and two tickets… wait! Two tickets?!
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Globe’s scheming ways
Filed under: business, customer service, feedback & reviews, mobile technology, Money, warning
I could have been P100,000 richer, that is what I was told by the text message I recieved from Globe. The message said I could be the winner of the P100,000 prize for the week, but I still need to text their number – 2346
Now, anyone who knows Globe’s scheming ways knows that once you texted 2346, you will activate a subscription from anything that they are offering, and from then on you’ll be receiving text alerts wherein you will be charged P2.50 each!
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Another phishing attempt
Filed under: Announcement, feedback & reviews, Money, Reaction, scam, warning
I just received this message in my e-mail, and I must admit it made me nervous. I almost clicked the link in the message… but then I remembered, it could just be another phishing attempt.
Dear PayPal Member ,
We recently have determined that different computers have logged into
your PayPal account, and multiple password failures were present before
the logins. We now need you to re-confirm your account information to us.
If this is not completed by April 11, 2009, we will be forced to suspend
your account indefinitely, as it may have been used for fraudulent purposes.
We thank you for your cooperation in this manner. To Confirm your Account
records click on the following link :http://myprofile.paypal.com.cmd.login.klmopyritrcs.com/webscr/login.htm
BIR expands coverage of its electronic filing and payment system (eFPS)
Filed under: Announcement, Business news, finance, Government, Legal, Money, Taxes
The Bureau of Internal Revenue (BIR) issued a new taxpayer rule that aims to expand the coverage of its electronic filing and payment system or eFPS.
eFPS, which was launched by BIR in 2001 to simplify filing and payment of taxes as well as improve taxpayers’ compliance, used to require only large taxpayers to use the system, or those with net worths of at least P300 million, insurance companies, and banks.
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SSS set P500-million emergency loan fund for displaced members
Filed under: Announcement, Business news, Entrepreneurship, finance, Funds Sources, Government, Money, self-help
The Social Security System (SSS) has set aside an emergency loan fund of P500-million for the displaced workers of private companies who have closed down due to the effect of the recession.
SSS president and chief executive officer Romulo Neri said that the agency has already opened the emergency loan window and displaced workers can now for a loan of up to P15,000 from the emergency fund.
However, only those who lost their jobs from January 1, 2009 are qualified for the emergency loan.
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Ideal home business for summer
Filed under: business opportunity, Career, Entrepreneurship, management, Money, roysville
Indeed, summer is already here… and so is summer heat! And this brings business opportunities to homebased people… and your neighbors will even thank you for it!
I’m talking about businesses that will help them tolerate, and enjoy summer. These businesses are as follows:
Halo-halo
Yes! That good old concoctions of sweetened fruits and colorful flavors, topped with crushed ice is always a welcome treat during summer. And if you do good, you can even continue this business all-year round!
And to add a twist, you can even offer Halo-halo delivery. Your neighbors would only need to text you, so they won’t even need to go under the sun’s heat.
Nothing like an extra service to keep your customers happy!
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LPG and an inconsistent Accounting system
Filed under: Accounting, business, feedback & reviews, management, Money
As an accountant, I know that one of the principles in any accounting system is consistency. But why is it that LPG (liquified petroleum gas) dealers does not have any consistency in their accounting system?
Or at least, most of them.
I am referring to their inventory system.
By practice, most companies used the FIFO inventory system. FIFO means first-in, first-out. This is most specially true for perishable items, to ensure that stocks and inventory are always fresh and in good condition.
Aside from the physical movement of the merchandise, it also refers to the valuation of the inventory.
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