The risk of lending money.

There are times when the person you least expect to betray you happens to be the very person who will do it to you.

Get my drift?

Well, a friend of mine did that to me. It was almost a year ago when he talked to me, asking to borrow money. I normally don’t allow this but since he was a very close friend of mine, I lent him some. Well, I should have just told him to go and apply for a loan or cash advance rather than lend him the money myself. It will be a year by end-June and I haven’t heard from him since. I was hurt, to say the least. But well, I took the risk and I just have to suffer the consequence.

I suggest that instead of borrowing money from family or friends, there is a cash advance facility available for a person. Impersonal yet very helpful. Try that first before anything else.

How come?

How come when you have so many cash lying around, you don’t know what to buy. But when you don’t have any excess funds with you, you find so many stuff you want to hoard!

I recently found out that there are so many cute trinkets and other fancy schmancy stuff in a novelty shop I frequent. I also discovered last week a new shop that carries so many cute stuff I like. Last weekend, I felt like taking my sisters to this buffet/eat-all-you-can restaurant that my friend took me to on her birthday. I found a way to easily buy books abroad without the staggering shipping costs and delay in shipment but I don’t have enough to pay for it.

Sigh.

How come I see so many things I like but I don’t have enough to finance all of it!!!

Argh!

Do you love your job?

There are a number of things I’ve learned over the past few years that I keep in mind and remind my love ones of. One of those things is the following…

quote-on-job-confucius

Confucius said that if you enjoy what you are doing, it stops being a job, a chore, a responsibility. What you enjoy doing becomes a normal part of your daily routine, your life. I do believe that.

You know when I was still in high school, I wanted to become a journalist. I am not a great writer but I love writing with a passion! I knew then that if I could get the proper education, I would be fairly decent in my writing skills. My mom had other plans for my future. She told me that it would be better for me to take up Accountancy. She said that there would be more jobs waiting for me if I become an Accountant. She’s right! I got a lot of job offers even before I graduated. I was able to start as soon as I passed the board exams. I forgot that I wanted to become a journalist for a while because I learned to love my profession.

But you know what? My love for writing was not diminished. It is still here even though I am writing numbers more than words. I am still an accountant but I went back to my first love which is writing. I realized that there are just some things in life that can make you happy even though you are not getting as much financially as you want to. That’s writing for me. I love it so much that it doesn’t feel like work even when I am spending hours and hours laboring over a paper. I also felt this way in doing accounting work but maybe because it wasn’t really my first love, it diminished over time.

Do you love your job? This is a simple test that you can do to know for sure. Spend more than eight hours doing your job and if you are not smiling anymore by the end of the day, you better find something else to do. Or stop and look into yourself if what you’re doing is still worth it.

Financial Planning: Umbrella or Limited Status for your Company

Sasha Says

As a start-up, one of the first things you need to decide is whether you should trade as a limited company or use the services of an umbrella company. You aren’t an accountant, so you’ll be forgiven if you feel overwhelmed by such a decision.

In the following paragraphs we’ll breakdown the key benefits of both options to help paint a clearer picture as to whether you should be limited or umbrella company. It is important that you seek the advice of an accountant before making a final decision.

The key differences between umbrella and limited
Both options are extremely different from one another, so it is vital that you understand the key advantages and disadvantages of both options before you are able to make a decision.

Limited Company
In a nutshell, the limited company route will see you incorporate your own limited company and become the director. You’ll be in charge of invoicing and the day to day running of the business (with the help of your accountant) and it is the most tax efficient way of trading, seeing you typically take home around 75% to 80% of your gross earnings.
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Never give up!

never give up

One thing that I intend to do this last month of the year is to prepare for the coming 2015. I intend to be stronger, braver, and better overall this coming year. I intend to have MORE and that means working even harder than I ever did in my whole work life.

I need to beef up by being healthy. I intend to go back to being a corporate rat and that means fixed working hours. I need to condition myself to waking up early again, braving the rush hour and traffic jams, and working for a boss again.

I can do it! I won’t give up!

You should, too.

:)

Investment scams

An evening news report aired a few nights ago made me think about this post and sharing it with all of you. It’s about investment scams, those “double your money” schemes that so many people still fall for.

In a gist, there were several people who were made to believe that the money they gave a company would double just because. Hearing the word “double” made them lose their senses and they gave hard-earned money to the company obviously operated by unscrupulous people. After amassing large sums of money, the owners of the company disappeared!

You know what made me really angry? One victim was interviewed and she said that the money she gave, invested in, the company was money earned by her sister who was working abroad, an overseas worker who was earning through blood and sweat! Can you imagine the anguish of that OFW who was not told that the money she was asking her sister to save for her was now lost to some scammer?

Please don’t fall for any kind of “double your money” scheme. There is NO way that your investment will double just like that! Unless you are a loan shark or a drug dealer, your money won’t multiply in any kind of investment out there. Just like that! You will have to wait for a long time before you will be able to earn so much from your investment. Don’t believe in promises that all you have to do is trust them with your hard-earned money and a couple of days after, it will be given back to you double the amount. Totally BULL! It’s fraudulent and you are better off investing your money in a business you know a lot about.

Interest and dividends are earned over time, in small amounts unless you invested millions. Keep that in mind!

Wanting to help

Have You Ever Felt This Pain Of Wanting To Help Others But You Couldn’t?

That’s the title of an article written by Bro. Bo Sanchez. It’s about being financially able to help others. But let me answer it based on my experience…

I’ve been in that situation many times in the past. And particularly right now. A very dear friend of mine is having financial troubles. She’s in dire need of financial help but I cannot help her because I have a lot of obligations to attend to. I also don’t have enough extra funds to use. I kept pounding my head thinking of a way to help. I’ve been in the same situation as her so I know how bad she’s feeling right now and how desperate and hopeless everything is.

In this kind of situation I kept wishing I have the money to help. Unfortunately, I don’t. I have my family to think of. Plus some more monthly obligations to fulfill.

How I wish…

Getting hospitalized.

No, I didn’t get hospitalized. But a friend’s mom is currently in a hospital attached to tubes and a ventilator to keep her alive. And it is reminding me of how hard it is to have a love one get sick and be hospitalized. First of all, the worries whether your love one will get well or worsen. You are stressed out, worrying what the doctor will tell you the next time he/she drops by the hospital room. You are also stressed out about the increasing hospital bill!

When my mom got diagnosed with a rare kidney disease, our journey in and out of the hospital began. Regular medical check-ups with three specialists, laboratory tests at least once a quarter, numerous trips to the pharmacy to get her supply of medicines, and, of course, the several times a year of confinement. You can just imagine how much we spent every month for three years to make my mom as comfortable as possible. Can you also imagine what would’ve happened to my mom if we didn’t have enough money to pay for all her medical expenses? She probably died sooner.

And, you know what? That is the usual scenario with most Filipinos who don’t have health cards, health insurance plans, or deep pockets. Sick love ones suffer in their homes because the cost of hospitalization is high. An admission into a private hospital will cost you 10,000 pesos (roughly US$235). If you are only earning so much and is living from paycheck to paycheck, where will you get that amount?

I really hope that the day will come when the government will find a way to make hospitalization affordable for all Filipinos, especially for the poor.

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