Remittances inch up in July 2015

Metro Manila (CNN Philippines) —A strengthening U.S. dollar and a depreciation of several currencies around the world partly caused a slower growth in personal remittances from overseas Filipinos (OFs) last July, according to the Bangko Sentral ng Pilipinas (BSP). 

 The central bank revealed on Tuesday (September 15) that personal remittances grew by an annualized 0.5 percent to $2.3 billion last July, in contrast to the comparable 7.3 percent increase logged during the same month last year. 

 Such funds from land-based workers with contract of one year or more grew by 5.4 percent, while those from sea-based and land-based workers with contracts of less than a year rose by 2.9 percent. On a cumulative basis, personal remittance for the first seven months of the year reached $15.7 billion, equivalent to a year-on-year growth go 4.6 percent.

Cash remittances from OFs coursed through banks increased by an annualized 0.5 percent to $2.1 billion, bringing the January to July total to $14.2 billion. The January to July total is 4.8 percent higher than the $13.5 billion notched during the same period last year. 

 According to the BSP, the bulk of such funds came from the U.S., the U.A.E., the U.K., Singapore, Japan, Hong Kong, and Canada. 

 Citing figures from the Philippine Overseas Employment Administration (POEA), the central bank noted that total job orders reached 526,345, and that 38.7 percent of which has been processed. Most jobs were intended mainly for service, production, and professional, technical and related workers in Saudi Arabia, Kuwait, Qatar, Taiwan, and the U.A.E.

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What is Mutual Fund?

A mutual fund is a type of professionally managed investment fund that pools money from many investors to purchase securities.[1] While there is no legal definition of the term "mutual fund", it is most commonly applied only to those collective investment vehicles that are regulated and sold to the general public. They are sometimes referred to as "investment companies" or "registered investment companies". Hedge funds are not mutual funds, primarily because they cannot be sold to the general public.

In the United States, mutual funds must be registered with the U.S. Securities and Exchange Commission, overseen by a board of directors or board of trustees, and managed by a Registered Investment Advisor. Mutual funds are also subject to an extensive and detailed regulatory regime set forth in the Investment Company Act of 1940. Mutual funds are not taxed on their income and profits if they comply with certain requirements under the U.S. Internal Revenue Code.

Mutual funds have both advantages and disadvantages compared to direct investing in individual securities. Today they play an important role in household finances, most notably in retirement planning.

There are three types of U.S. mutual funds—open-end funds, unit investment trusts, and closed-end funds. The most common type, open-end funds, must be willing to buy back shares from investors every business day. Exchange-traded funds (ETFs) are open-end funds or unit investment trusts that trade on an exchange. Non-exchange traded open-end funds are most common, but ETFs have been gaining in popularity.

Mutual funds are generally classified by their principal investments. The four main categories of funds are money market funds, bond or fixed income funds, stock or equity funds, and hybrid funds. Funds may also be categorized as index (or passively managed) or actively managed.

Advantages and disadvantages

Mutual funds have advantages over investing directly in individual securities:

Increased diversification: A fund normally holds many securities; diversification decreases risk.

Daily liquidity: Shareholders of open-end funds and unit investment trusts may sell their holdings back to the fund at the close of every trading day at a price equal to the closing net asset value of the fund's holdings.

Professional investment management: Open-and closed-end funds hire portfolio managers to supervise the fund's investments.

Ability to participate in investments that may be available only to larger investors. For example, individual investors often find it difficult to invest directly in foreign markets.

Service and convenience: Funds often provide services such as check writing.

Government oversight: Mutual funds are regulated by the SEC

Ease of comparison: All mutual funds are required to report the same information to investors, which makes them easy to compare.

Low Investment Threshold: Since the portfolio is diversified with a no-load fund, investors may have to pay little or no sales charges to own mutual funds[4]

Mutual funds have disadvantages as well, which include:

Fees

Less control over timing of recognition of gains

Less predictable income

No opportunity to customize

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Investment for Expatriates

I decided to write about investment because this is where most of us expatriates are lacking. I have many friends and acquaintances who went home for good but still poor. The purpose of going abroad and be away for a long time from our family has failed! Those sacrifices and homesickness that we endured for long time should not be wasted by ignoring investment.

I think we just need to study investment and invest money so that we have enough money when we retire. 

There are many ways to invest our hard earn money while we are still away from our family, with the time where we can do business online by using internet, we can invest too while working abroad. 

Here are some investments aside from real estate:

Mutual Funds- This investment are good for people who are too busy monitoring and studying stock market. This investment is not too risky compared to stock since it is composed of many stocks. When one of the stocks of the mutual fund is down, still the others are not so the average is not affected well. I have tried this kind of investment and I observed that my money is doubled every four to five years. If you want to learn more about mutual fund, you can make a research in the internet. There are many articles about it and where to invest. By the way this investment has three types of investment: bond investment, bond and equity or balanced- fund and the aggressive which is purely equity investment but with higher returns.

Stock Market - This investment is where you buy a share of a company. This means that you become a co-owner of the company. First of all you have to study the company, its assets, plan and who owns it. Familiarize yourself about the totality of the company because you are buying part of the company. Why would you buy or co-own a company which are not familiar? As the share price of the company goes up, your money increase too but remember there are times that the economy is not good or there is a recession your share will also be affected and it may go down. Stock is riskier but with good return compared to mutual fund so it is up to you to decide but historically stock is still a good investment, it is a long term investment.

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I am back!!!

It is nice to be back once again. Just got busy with my job and other things like investing and studying MBA. How's everybody if there are still visitors here? Once again I will write about expatriates and how to invest while away from our beloved country. Just last week there were conflict again in my country like rebels and massacre. I don't know why we should resort to this kind of bloody conflict.

By the way talking about investment, I am now into mutual fund and stock. I hope you will take time to study investing before you invest.

See you to my next entry next week. Chao!!!

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Money Tips for Expatriates or OFW

Many expatriates or OFW in particular forget to save money when they are already working abroad. In the Philippines there is a seminar from PDOS before leaving to work abroad. The main topic of the seminar is about how to save money while working away from the Philippines away from their family. But most of the expatriates return home only to realize that they are still poor and even poorer before they went abroad. One of the reasons of this is that the OFW forgot to save while away working hard in foreign land. Some were tempted to spent too much money more than what they were earning by buying unimportant things like electronics gadget, gambling, going to nightclubs and even forget their family in the Philippines and even make their own new family abroad.

If you are working abroad you will encounter many trials and hardship, loneliness that will ruin your plan and dream. My advice is to have a constant communication to your family in the Philippines. Make concrete plan and save money for your future in the Philippines.

Here are some money tips for Expatriates or OFW:

1.0 Know what your monthly income and assess if you could invest on something in your country of origin. Maybe you could buy a house or condo unit. Real Estate is a good investment because it appreciates its value faster than other form of investment. It is also a pride to have a house which is the product of your hard work.

2.0 As an ofw you will see many appliances that you could not afford before to buy. Tighten your belt and go for longer gratification by saving and investing your money. You can invest in government securities and mutual fund too. Another thing to avoid buying cars, watches that are very expensive. Just say no to these temptation.

3.0 Spend your money wisely. Always remember that you have a goal to fulfill. Do not change your lifestyle like when you are earning small amount of money when you are in the Philippines.

4.0 If you think that your wife is not a good saver then do not send all your money but just send money for their monthly budget. Do not let your dependent in the waste your hard earn money.

5.0 Tell your wife about your plan or you should update them about your present money status and your future plan so that they will understand to avoid problem.

For more money tips read Earn and Invest Money in my other blog.

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Venus Raj Rigid Training

In preparation for the incoming Miss Universe Pageant, Venus Raj is now busy with her training like catwalk, answering question and even projection. After the storm she will now be ready to fight come August 23 in Las Vegas, Nevada and even Manny Pacman gave her some encouragement and to trust God above all.

Here is the article from ABS-CBN.Com
MANILA, Philippines – This year’s Binibining Pilipinas-Universe Venus Raj has undergone rigorous training for the prestigious Miss Universe 2010 pageant next month in Las Vegas.

Venus Raj, along with 2010 Binibining Pilipinas-World Czarina Gatbonton, 1st runner-up Diane Necio and 2nd runner-up Nicolette Henson, underwent trainings almost every day for several weeks

The training of the Filipino-Indian beauty from Camarines Sur included perfecting her walk on stage.

Raj’s posture and the movements of her head and hands as well as her smile were scrutinized by her trainers. She was also told that is important to make an eye contact with the judges and photographers of the pageant.

A mock question-and-answer portion, complete with panel of judges, were also held as part of Raj’s preparations. She made to undergo drama training to develop her self-confidence.

She also watched previous Miss Universe competitions to study the movements of the finalists.

Raj will fly to Las Vegas without her coach and family.

Venus Raj who fought back to regain her crown said her mom, who is in Camarines Sur, told her that she is proud of her, and that she will pray for her victory.

Other Bb Pilipinas winners, meantime, expressed their support to Raj.

The 2010 Miss Universe Coronation Night will be held at the Mandalay Bay Resort & Casino, Mandalay Bay Events Center on August 23, Monday.

The pageant will be aired live on ABS-CBN Channel 2 on August 24, Tuesday.

Raj will reportedly fly to the US on Sunday. –Report from Dyan Castillejo, ABS-CBN News

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OFW Should Save and Invest

Many OFWs including myself are working hard in a far away land in order to earn more money and hope that someday we can start a new life in the Philippines with business or savings but I think only few people will realize their dream. Why is it that it is hard to do it?

When I was young it seems to me that saving money is very easy but now I have a hard time doing it. Mulling myself I realized that many things has changed since I was a toddler living in our province with simple life and simple things around. Now the world is full of many unnecessary things that are widely promoted by media. Ads are there to persuade people to buy. In short you could not save and invest because life today is about receiving salary if you are employed and buying things which are not important. If only everyone could go back to simple life, I think they can save money and start a business of their own.

As an OFW or Oversea Filipino Worker, it is hard for us to save money because there are lots of temptation like buying jewelries, electronic gadget and the pride of being an OFW that when spending a vacation, many relatives and friends are expecting us to shower a party and lend money without paying in return. But I think it is not too late not to save money today. You just need to stand and be reasonable. The hard part is when you start saving money. Many people don't save money because of many unreasonable reasons like I have a small monthly salary, I will save later, my wife is working too and she has a retirement plan and so on. My question is when are you going to start saving money?

My answer is now and stop buying those unnecessary things that you don't really need. You have to identify the asset from liabilities. What are these two things? Assets are things that when you buy they can give you more money like real estate, business and retirement plan. You need to study these things too before you buy. Liabilities are things that do not generate money for you like luxury car, expensive cellphone, laptop, very big house. These things that I mentioned in fact will need more money for maintenance.

Start saving by paying yourself first. What is this means? You have to set aside 10% of your gross monthly income. If you could not do it with 10%, start with 5% and readjust it later to higher percent value when you feel comfortable. By the way don't wait for that comfortable moment to come! It is not bad to enjoy your money because you earned it but let us not forget that you are not only living for today so you have to save and invest because as you go older you will have a hard time to cope up. Employment is shaky, it is not a secured source of income. What if you get fire? There are many younger people who can do with your job but are willing to accept low salary.

There are so many things to cover with this topic but I discussed here the basic of financial freedom. Start saving now and invest your money. Do not rely others for your future. Start today and as OFW we should save and invest.

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Petition to oust Wellie is now 40,000

What happened to Wellie? Is he gone for good? I hope so because he is not a model for Filipino people and beside he is rich already. I had watched his show many times and I felt that he is arrogant and rude at the same time. I do not know why people appreciates him very much? I read an article about his petition in Earn and Invest Money: Petition to oust Wellie is now 40,000 and right now many people are aware of his being stupid. He should learn his lesson and know how to respect other people.

He take advantage with other people's weakness like being poor. It has been two years I never watched his show and I prefer doing other things than to watch him.

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Earn and Invest Money: Top Ten Money Saving Tips

To all expatriates out there here is another article that I want you to read. It is about saving money tips, I am sure all of you will want to save money so that you can leave where you are now and go home for good earlier than what you expect. Saving your money by following this Earn and Invest Money: Top Ten Money Saving Tips will help you a lot. Start saving money today and invest it in your country.

There are many ways to save money and you can make a comments here and add what other way to save money. My friend retired at the age of 40 for good because he has lots of money already and able to start a lucrative in the Philippines, I myself want to follow what he is doing and I start investing in real estate.

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Venus Raj News

It was in the year 2006 when i first saw venus, from that time i told myself, that someday she'll be one of the proudest stock of bicolandia or maybe even of our country, all throughout the years of her journey to different local beauty pageants, i was there, seeing on how she performs, yes it's true that she never bagged one major title in the region, but for me she is deserving of things better that that, for four years time, this beautiful bicolana had evolve into a classic and timeless queen, in the eyes of the people who believes in her...

You know what is good about venus, is her genuine to herself, she never had time of being hypocrite for herself and to other people, that is why many people used to love her in her simplicity and humility, in her achievements i can say that Gd has always been her armaments, her shield and her strength, perhaps not all of us can pleased by her image, or by herself, but you know what folks one of the best thing that ever happened to her is to be crowned as Bb. Pilipinas 2010, i know it's her dream to be one, and i'm happy that she is reaping now the fruits of what she had sown years ago, i remember during Miss Bicolandia 2009 screening when she was one of the judges, i saw her splendid wearing her recycled bags, i said wow, i think there can be no another venus to come): it's only her who has that guts to established and epitome of a true queen):

Why? Because a true beauty queen, is somebody who has it, the heart and the compassion for all, a beauty queen is a role model for good character, good inspirations and the highest form of morale, it makes me feel sad, that now many had forgotten this reality, many claimed that to be a beauty queen is a way to fame, but it's not, remember even during the Mythological times of the Goddesses it is clearly stated that beauty are made for a purpose and that purpose shall drive all of us...and for a real queen...

2010, has been the most triumphant years for Venus, for she is about to reach her dreams of representing our country into the most prestigious pageant in the universe, i just have queries to others, who doesn't believe in venus, what do you think is the real qualifications of Miss Universe Pageant? is it all about the advancement of technology and science? that almost all of the countries around the world do enhance their delegates? especially Venezuela, and other latin countries, i am not against beauty enhancement because i am product of it, but then i believe that a true queen, must possess natural and real beauty, a true queen's character shall not be trained and practice, because if it is the reality, how can a Miss Universe trained queen can really be a true queen? how can she inspired if in herself she can't even an inspiration, this is something that almost all the pageant around the world had forgotten, a Miss universe is the most beautiful woman in the whole universe indeed, then how come that almost each year, they choose and select a queen who doesn't even possesses naturalism in themselves, or is it because miss universe were created for profit not for mission?

For me and i believe thousand out there will agree, Venus Raj is deserving to represent the entire Filipino people, and woman around the world because she has it, the love for herself and for other people, the compassion to all the people in all walks of life, the natural beauty which every filipino admires, the support and the guiding blessings of God will make her our next Miss Universe, and most of all her character her determination, and her skills will give her the most beautiful gift for herself and for all of us filipinos):

The best thing that we can do now and on is our fervent prayers to God, to continue bless her and falter to guide her, because Venus is A true Queen an Essential World Class Filipina): Good luck to your journey to Miss Universe 2010 comes august)! Godbless us all Filipinos!

From Missosology.com

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Pinoy Conquered American's Got Talent

I am very proud about our kababayan who is now living in United States of America. This expatriate went there eight years ago with his parent to find a greener pasture and end up joining America's Got Talent. He amused the judges with his talent singing with guitar. His name is Luigi Seno, 20 years old who sang "Sunday Morning".

Here is the news courtesy from WWW.ABS-CBNNEWS.COM

MANILA, Philippines -A part-time Filipino student and shipping worker from Mandaue City is quietly making a name for himself after wowing judges of the hit American reality search America's Got Talent.
Luigi Seno, 20, played guitar and sang a bluesy version of Maroon 5's "Sunday Morning", winning praise from the AGT judges and loud applause from the audience.
"Luigi, you have a really cool, relaxed style. Fantastic," said judge Sharon Osbourne.
Judge Howie Mandel said Seno looked shy, "like a young kid", when he walked out on the AGT stage with his guitar.
"As soon as you started strumming on that guitar, you, like, opened up. You are truly a great entertainer. If you had an album right now, I'd be listening to you in my car. I would be," he said.
Third judge Piers Morgan, on the other hand, said it was not just Seno's talent that got his attention but his undeniable charm.
"I'll tell you what it is. It's not just that you're a good guitar player, or that you're a very comfortable singer and a good singer, it's the fact that you've got this charm about you, which I think is going to go a long way," he said.
All three judges voted Seno into the next round, with the chance to win the US$1 million grand prize.
In an interview before his performance, Seno said he was born and raised in the Philippines before his family moved to California 8 years ago.
His parents described him as shy but with a passion for singing. "He practices every day. I'm so blessed," said Seno's mom.
Seno said his family inspired him to join the competition. "They brought me here to get a better life. It was really tough back in the Philippines so I just want to give back to them," he said.
America's Got Talent is a British-owned American reality television series created by Simon Cowell on the NBC television network.
A local version of the show "Pilipinas Got Talent" recently ended its first season, with singer Jovit Baldivino winning the top prize.

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