Year: 2017

Are you prepared? Are you ready to save your life and those of your loved ones? These are important questions that beg serious answers.

Risks and dangers are part of our daily existence. We live in a country that is ravaged by numerous typhoons and earthquakes. Flooding, landslides, and other natural disasters bring untold damage to millions of lives almost every year.

Aside from natural calamities, we also need to be aware of the threat of fire. A large fire at home could wipe out all of your earthly possessions, turning all you’ve worked hard for into a heap of ash. A car accident could also wreck your car and mortally threaten your life and limb. Worse, a sudden illness could wreak havoc in your family budget with the exorbitant cost of medicines and hospital care. However, there is no need to fret nor lose hope because of the many ways we can protect ourselves and prepare for these risks. One of the most effective tools available to protect us and our loved ones is called Micro-Insurance.

Micro-Insurance is a financial product that aims to protect those with low income against specific risks in exchange for low premium payments. The premium is proportional to the costs and the likelihood of risks to occur. In simple terms, micro-insurance enables a person to have access to financial support should they suffer from natural or man-made disasters or accidents.

Indeed, micro-insurance can literally save your life because of these outstanding features:

Super Low Premium, High Benefits. Some products such as those offered by leading remittance company Cebuana Lhuillier offer micro-insurance for as low as Php 40. Even with such a low premium, the cash benefits can range from Php 5,000 to as high as Php 20,000 depending on the insurance type and premium coverage.

Custom Products to Suit Your Needs. There are many micro-insurance products designed to meet the specific needs of its policy holders. A daily wage earner working in the city has insurance needs that are different from that of a hardworking farmer in the province. The good thing is that companies like Cebuana Lhuillier have many micro-insurance products that are custom-made for workers, farmers, and even security guards and senior citizens.

Accessible All Over the Country. With over 2,000 branches all over the country, Cebuana Lhuillier’s micro-insurance is truly accessible to people from all walks of life.

Easy & Fast Processing. The best part about micro-insurance with Cebuana Lhuillier is the fast and easy processing of applications and claims. It only takes filling out a form to get insured.  Get your cash benefits within 24 hours upon filing a claim.

Despite the many risks people face daily, one can still live in peace provided that adequate prevention, protection and care is taken every step of the way.  Through appropriate, affordable, yet highly beneficial micro-insurance, you can truly save your life and those whom you value most.

Having a car insurance is a real money saver.

Most governments around the world make it a requirement as part of motor vehicle registration. But not too many people realize how much cash they could save by having appropriate insurance coverage for their car.

In general, having good car insurance offsets the often stress-inducing costs of paying for vehicle repairs. A minor fender-bender or worse, a total wreck will surely create havoc on one’s wallet. It costs thousands of pesos to pay for body dent repair, vehicle repaint, and replacement of car parts damaged in a car accident. Of course, the financial cost of replacing a broken car engine and other major internal parts is another burden no one wants to carry. But with car insurance, you can save yourself from a lot of stress and payments by making the insurance company foot the bill.

Another clear benefit of having a car insurance is when your policy covers compensation for stolen vehicles. Thus, it is imperative to protect yourself from whatever situation your vehicle may be put at risk with car insurance.
Surely, the benefits do not stop there. In every car accident, there is a very high likelihood that people will get hurt. If you are the one responsible for the accident, then the hospital bills – from the initial doctor’s consultation, emergency treatment, hospital room charges, and medicines are to be charged to you. You can also expect additional costs for physical rehabilitation sessions for the car accident victims. All these expenses will be paid for with your hard-earned money. Again, if you have good car insurance, the problem is as good as solved and most of the hospital bills will be paid for by the insurance company.

In case that your financial capacity is large enough to cover repairs for the car and hospital expenses of car accident victims, you must remember that everything could turn for the worse once a court case is filed. Naturally, you would have to go to court and eventually settle with the complainant (assuming you take full responsibility for the car accident).  Aside from the indemnities that must be paid to the complainant, one must also factor in the litigation expenses, including the lawyer’s fees which could easily cost you thousands of pesos. Having car insurance that covers part or the entire cost of litigation and other related court or lawyer’s fees is surely an advantage.

While nobody wants an accident to happen, there might be a severely unfortunate case when a victim dies. When this tragedy occurs, the one responsible for the accident would naturally seek to make amends and help out the family of the victim or victims to the fullest extent possible. This again would entail a huge amount of cash for payments for the memorial services and other forms of assistance to the family of the car accident victim. For these reasons, having car insurance covering death benefits in favor of car accident victims is another advantage. The car insurance would also take care of the benefits that would be received by family members of the insurance policy holder, in case it is he or she that passes away due to the accident. In this situation, it is the family of the deceased that will save money.

In summary, being prepared for accidents is a good thing. Having good car insurance offered by a reputable company saves you money during times you and your family would need it most – in this case car accidents and other vehicular incidents.

Good Debt and Bad Debt – what’s the difference? Aren’t all debts bad?

To make it simple, a good debt eventually puts money back in your pocket while a bad debt is like a sinkhole pulling you down.

But first things first, why do people get into debt?

For most people, borrowing money from a friend or relative is seen as a last resort. Cash becomes short typically after unexpected events such as sudden illness or death in the family, a fire that destroys a home and other possessions, or even the physical loss of money. To make ends meet, a person in need reaches out to one’s close friend or family member. For these situations, borrowing money and getting into debt is necessary.

Bad Debt. Truth be told, a lot of people get into debt for less than ideal reasons. Driven by uncontrolled purchases of and living beyond one’s means, some people slip deeper and deeper into a quicksand of loans.

But you might say that it is impossible to avoid buying stuff or making purchases as part of daily living. That might be true for essentials or those that you absolutely need to survive such as spending money for food, water, shelter, and to send kids to school.

Bad debt occurs when one spends money that he or she has not yet earned. The best example for this is the abuse of credit cards. It is so easy to swipe away payments for purchases with that credit card and walk out of the mall with hands clasping several shopping bags. Irresponsible spending is using credit cards or loaned cash to buy that latest pair of sneakers when you already have ten pairs of shoes at home. Many realize far too late that a credit card is not cash for spending, but a little piece of plastic that lulls them into debt.

Getting a loan just to satisfy a luxurious food craving or a fashion addiction are also examples of bad debt. Taking expensive vacations using borrowed money is also bad debt. In short, a bad debt is made when a person borrows money to spend on frivolous things. A bad debt is money that is spent on stuff that does not grow in value, but instead depreciates over time.

Some examples of liabilities or purchases that depreciate over time include shoes, clothing, a car (albeit some argue that it is a necessity), a fancy watch, and other items that simply empty your wallet. These items actually give birth to other expenses that could further add to your list of debts. Take out a loan to buy that shiny car you’ve always wanted, only to spend more money on gas, new car registration fees, and other vehicle maintenance expenses.

Good Debt. For sure, not all debt is bad. As previously mentioned, a good debt is one that puts money back in your pocket. One could probably take out a huge loan to buy a car that is later used as private car-for-hire, bringing in extra income.

Another example of good debt is getting a business loan to put up that coffee shop or food stall you’ve always dreamed of. Maybe you’ve had a business idea, a product, or service you want to turn into a full-time venture if only you had the financial capital. A small loan for a cellphone upgrade that you can use to start a loading business is also good debt. With a well-planned business loan with affordable terms of payment, you can pursue that dream and create an income stream that will let you pay off the debt while laying the foundations of financial independence.

In sum, one must know the difference between good and bad debt. A bad debt provides short term pleasure but eventually traps you in a cycle of financial hardship. On the other hand, a good debt is well-planned and necessary that eventually produces positive cash flow making your life better in the long run.

To know more about good debt and easy business loans, check out www.cebuanalhuillier.com.

Pawnshops have been the lifeline of millions of Filipinos who urgently need cash to address a sudden need or emergency. For decades, those in need have relied on the pawnshop to provide them with instant cash, usually by bringing jewelry as collateral.

In the past, one’s jewelry, including precious family heirloom, gold wedding ring, diamond earrings, or any other valuable gem or metal, was the acceptable collateral. Today, advances in internet technology have made pawnshops more accessible to more people. In fact, there is now a wider variety of items that one can pawn online.

Online pawnshops, as an easier and faster platform for pawning, are fast gaining popularity. Any person with a computer or internet-capable gadget such as a cellphone can now get the financial help they need in just a few clicks.

It is also a very convenient platform to use since all you have to do is take a photo of the item to be pawned, upload and send it to the online appraiser, and you will just wait for the approval and valuation of your collateral. Once the item is approved, the online pawnshop will deposit the amount to your own bank account. The online pawnshop sends accredited couriers to pick up the collateral at your preferred address. In short, you easily get the financial help you need without the hassle of going to a brick-and-mortar shop.

So, what items are acceptable for online pawning?

Jewelry. From the earliest time of human history, jewelry has served as ornaments of power, wealth, and beauty. No doubt, they enhance the overall image and sense of confidence of the one who wears them. But more than just shining symbols of affluence, jewelry are also excellent investment pieces. They can be resold and even pawned in a time of need. Whether your jewelry is made of gold, silver, diamond, or gemstone, these types of items always command a high price.

Most jewelry items are heirloom and thus are well-guarded and meticulously cared for in order to retain their pristine quality. Aside from the inherent value of the precious metal or stone attached to jewelry, the fine craftsmanship of these items also make them extra special. For these reasons, online pawning shops treat jewelry as their top priority in terms of valuation.

Aside from jewelry, you can now offer the following items as collateral in exchange for cash:

Laptops. Staying connected in the 21st century is almost as important as oxygen, and that is no exaggeration. Whether for work or leisure, laptops and other computing gadgets are now considered part of the daily essentials. With their varying specifications and features, laptops make for a good pawning item because of their functionality and high resale value.

Cellphones. Yes, just like the laptop, online pawn shops also accept cellphones. The latest models of cellphones are now bundled with numerous apps and high tech functions that make them as useful as the laptop or the desktop computer. In fact, some of the top-of-the-line cellphones have very advanced camera lenses that produce professional quality photos and videos. The technology, design, and universal use of cellphones make them a good item to pawn to get one through a tight financial spot.

Cameras. Digital single reflex cameras and other high-end point and shoot cameras are also accepted by most online pawning establishments. Cameras made by Canon, Sony, Nikon, and Olympus can be easily pawned.

Watches. Luxury watches are rare because of the precious metals or gems used as part of the design. The incomparable craftsmanship, resilience, and aesthetic qualities of the luxury watch also make it expensive and rare. For these reasons, luxury watches can also be easily pawned online. Some of the highly appraised luxury watch brands include Patek Philippe, Rolex, Tissot, Cartier, Philip Stein, Bulgari, among others.

So, whatever item you choose to make as collateral, you can be assured that online pawning is a convenient way to meet your financial need, anywhere and anytime.

If you’ve always gone to a brick-and-mortar pawnshop to meet your financial needs, maybe it is high time to make a switch. There is now a more convenient option available in Online Pawning, a technology-based platform for getting appraisals and receiving money for your valuable collateral.

Online Pawning offers four major advantages over the traditional pawnshop. Whenever you use online pawning, you are rest assured that it is:

 

1. A Way to Save Time and Effort

If you live in the city, you are most likely one of the millions of people who have to endure the hours-long traffic on a daily basis. This traffic creates an even longer, slow-moving queue of cars when there is heavy rain and flooding, or when there’s a fender-bender. By simply making an account on the online pawning service and logging in, all you need to do is to take a photo of the item to be offered as collateral and upload so that the appraisers can evaluate and give you an offer. When approved, the online pawning service will make a cash deposit corresponding to the value of the collateral. All these steps without taking a single step outside and only a couple of clicks on your computer or just a few taps on your mobile gadget.

 

 

2. Safe and Secure

By securing an account online, you can proceed with a transaction at the pawnshop at the comfort and safety of your home or office. Online pawning assures safe and secure transactions, where you do not expose yourself to the risk of robbery or loss of the valuable item when you transact in traditional pawning services.

 

 

3. The Option with Higher Appraisals

Perhaps one of the most appreciated benefit of the online pawning service is it offers significantly higher appraisals to its customers. They are able to do so because their business incurs lower costs or overhead expenses since they don’t need to spend on shop signage, furniture and fixtures.

Given the lower cost of running an online pawning service, the costs associated with a traditional pawnshop are reduced and there is no need to pass on those costs to the customer in the form of higher interest rates.

 

4. Has an Expanded List of Items to Pawn

Lastly, there is a wider list of items that can be submitted as collateral to an online pawning service. While jewelry including expensive automatic watches are still acceptable, other items can also be made as collateral. Various type of laptop computers, digital cameras, designer bags and even motorcycles are now acceptable as collaterals in online pawning. With these four unbeatable advantages, using online pawning to get extra cash is now the preferred way to get much-needed extra cash, with ease and without stress.