The inexpensive Iphone

As expected, Apple unveiled a new more affordable iPhone, which, at just $99 in the US, will make owning an Apple device a reality for a host of new users. However, despite the small ticket, this is a very capable phone. Available in lime green, strawberry pink, sky blue, lemon yellow, and, of course, Apple white, the phone is constructed from hard-coated polycarbonate for a seamless, almost sculpted finish and will be offered with a selection of silicone cases so that owners can, in the words of Phil Schiller, Apple’s head of marketing, “create exactly the look that you want.” However, underneath the shiny, brightly-colored exterior is a pretty serious device that supports pretty much all global LTE and 4G network protocols for super-fast mobile internet. It also packs a four-inch full retina display and supports the latest version of Bluetooth for connecting to other devices, such as fitness trackers and speakers. It also packs a better, longer lasting battery than the current iPhone 5 and offers a slightly smaller 8 megapixel camera with a 3x zoom. But the biggest news was that the device is expected to cost $99 in the US. Aimed as much at younger consumers as well as those suspicious of long-term contracts with network operators, in a move that surprised everyone, Apple is immediately dropping its existing flagship, the iPhone 5 to make way for the 5C and its big brother the 5S. However, it will continue to build and sell the iPhone 4S which is now essentially the entry-level iPhone. The new handset is expected to hit the shelves in the US, UK and China on September 20.

More money-mistakes by OFWs (and Pinoys in general)

Millions of OFW families continue to suffer from financial stress despite the significant boost in the OFWs’ income.   Many of these money problems can be traced to mismanagement of their finances.  Here are some more money-mistakes that many OFWs make.   

1. Sending all your savings to the family.  This will not be a problem if your family back home knows how tomanage money responsibly.  We’ve all heard of sob stories about a how the spouse in the Philippines wasted the money sent by the OFW and when the OFW returns there’s hardly anything to show for his hard work abroad.  If your family cannot be trusted with large sums of money, it’s best that you don’t give them full access to your savings.    You can retain control of your funds by opening an account under your name and putting some (or most) of your savings into this account.  You can open this personal (or investment) account in the Philippines or in the country where you work.  However, I recommend that you keep a Philippine account.  Your family may find it difficult to get their hands on your foreign account in case something happens to you.  Besides, you will be helping the country more if you keep your money in the Philippines.

2. Not planning for life after OFW work.  Most OFWs will eventually return home for good, either by choice or forced to cut short their stint abroad due to unplanned or unexpected events like closure of the company or getting seriously ill.   I recently got an email from an OFW who asked about how he can better prepare for retirement.  He’s coming back permanently in a few years but will still have a job in the Philippines.  He’s among the lucky ones who have jobs to fall back on after working as an OFW.  Many other returning OFWs will be added to the country’s unemployment or underemployment statistics and with limited savings, it will just be a matter of time before these ex-OFWs start to suffer from financial problems. 

It is crucial then that OFWs prepare for post-OFW life as soon as possible.  Planning way ahead of time will make preparation a bit easier and will give you more options.  Save as much as you can while still working abroad and invest your savings.  If you can’t save enough to retire permanently, then you will have to keep on working (as an employee or your own boss) when you come back.  Continue enhancing existing skills and learn new ones to improve your chances of landing a job when you return.  Develop other sources of income back home (e.g. rental properties and small business) while you’re still in foreign soil so that you will have a steady source of funds when you return and stay for good.

3. Taking on too much debt.  A large number of OFWs incur debt when they are first deployed.  You just have to go near the POEA building in Ortigas to see that OFW loans is big business.  Agents of lending companies are always there to distribute flyers with many of their target customers keenly examining the loans they are offering.   I can understand OFWs borrowing money to cover expenses for deployment because placement fees today far exceed whatever savings they have.  What is troubling is OFWs unnecessarily taking on additional debt because they are now earning more. “I-charge mo na lang sa credit card yung gusto mong kumikinang na sapatos at glow in the dark na make-up, tutal may pambayad na tayo nyan!” or “Sige, kunin mo yung voice-activiated TV na binibenta ng Bombay o umutang ka sa 5-6 para mabili mo yung gusto mong imitation na LV bag!” is something you might hear from an OFW.  If you have to borrow money, do so because it is necessary and important.  Do not borrow to support extravagant spending.

4. Accumulating unproductive assets.  To a typical OFW, investing means buying tangible items that he can see, touch and feel.   Ask him where he has invested his earnings and the usual answer will include any or all of the following: house and lot, appliances, furniture, computers, electronic gadgets, car, motorcycle and jewelry.  While some of these are valuable assets, many are not productive, meaning they decrease in value over time and doesn’t bring more money into your pocket.  In fact, some will make you spend more like fuel, maintenance and insurance for a vehicle.  A money-smart OFW will acquire items that will likely increase in value over the years and/or increase his income.  Accumulating items that continually decline in value is like slow-burning your money.   Besides highly tangible assets like real estate and a car used for business, there are other valuable assets that are less tangible but are great investments nonetheless like investment-linked insurance policies, mutual funds, UITFs and stocks.

5. Falling for investment scams.  Scammers take advantage of the OFWs’ burning desire to return home to their loved ones and not having to work away from them ever again.  They make absurd promises of enormous earnings in a short period with minimal effort and position their investment as the best way towards getting rich.  Sadly, many fall for these false promises.   Do not allow criminals to steal your hard-earned money through dubious investment schemes.  Before you put money in any investment, study it thoroughly and ask questions.  Do not say yes to an investment immediately.  Scammers usually persuade would-be victims to decide quickly so you won’t have time to uncover their deception and lies.  Think long and hard before deciding.  Consult others who are knowledgeable about investing and familiar with what’s being offered to you.  If you have doubts about an investment then don’t put your money in it.  It’s better for you to miss out on a legitimate investment with great returns because you had doubts than to lose your life’s savings on a scam because you disregarded your doubts and instead believed their lies.  Always keep in mind that if an investment is too good to be true, it’s probably a scam!

6. Being overly generous with money.  People who are earning well tend to be more generous.  Ever heard of the returning OFW who throws a feast not just for the family but for the whole neighborhood?  Or the one who lavishes his family, relatives and friends with gifts in kind or in cash?  There’s nothing wrong with sharing your money as long as you do not over do it.  Remember that there are more important uses for your money than making other people happy with cash.   Be sensible when giving money.  If you know that it’s just going to be spent on non-essential items then don’t give too much.   Better yet give only when it is really needed.  Also, be cautious in lending large amounts of money to people who intend to use it as capital for a business.  Some relatives and friends of OFWs who do not have the knowledge, skills and right attitude to run a business suddenly feel like they are capable entrepreneurs knowing they can get money from the OFW.  Do not lend money for capital unless you have the skill and competence to evaluate the would-be borrower’sbusiness plan and agree that it is feasible and profitable.  The more money you have, the more relatives and friends will come to you asking for money.  Learn to say “no!”

Alvin T. Tabañag is a personal money management coach and registered financial planner.  He is a member of the US-based RegisteredFinancial Planners Institute, the Financial Planning Association (USA) and the Association of Registered Financial Planners of the Philippines.  He is also a member of the Professional Speakers Association of the Philippines.  He is the founder of Pinoy Smart Savers Learning Center, an internationally-recognized organization and “Best Provider” of employee financial education in the Philippines.  Mr. Tabañag’s center is at the forefront of a campaign to promote a culture of saving and responsible money management among Filipinos. 

Top 10 Investing Tips from Warren Buffett

1. Spend wisely.

2. No one cares about your money as much as you do. Buffett makes all his own investment decisions for his best interests – not the commission-based interest of financial advisers or stock brokers

3. Do your homework – scan thousands of stocks. Never invest in a business you don’t understand. Buffett spends 18 hours a day working on investment capital. According to him, investors should think of themselves as partial owners.

4. Overcome your fear of risk. Americans are afraid that investing in stocks will bring losses. However, Buffett says stocks outperform bonds, banks and even gold, and are safer, too.

5. Focus on the long-term. Putting off saving/investing means you’ll need to save more in less time for the same outcome.

6. Invest in quality business. Doing your homework will help you determine the worth of companies.

7. Hunt for exceptional bargains for solid companies. Buffett recommends buying stockduring a crash when even great companies have extremely low prices.

8. Make decisions to invest based on how well money is being used by management.Buffett feels penny-pinching indicates a profitable mindset

9. Be patient. When conditions align, buy an appropriate amount of shares; Buffett recommends holding stocks in 10-15 companies.

10. Sell losing stocks when the market is up; and buy winning stock during a crash.Selling a dud stock at its worst adds to your loss, and purchasing a great stock at peak price cuts your gains.

Yahoo OMG! Awards 2013: Winners

OMG! Awards 2013: Winners and full recap

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  European Pressphoto Agency - Marian Rivera

Just to recap, here are your OMG! Awards 2013 winners:

OMG! Celebrity of the Year: Marian Rivera

OMG! Awards 2013 Actor of the Year: Coco Martin

Coco Martin, Actor of the Year.

OMG! Awards 2013 Actress of the Year: Angel Locsin

OMG! Awards 2013 Breakthrough Actor of the Year: Enrique Gil

Enrique Gil, Breakthrough Actor of the Year

OMG! Awards 2013 Breakthrough Actress of the Year: Kathryn Bernardo

OMG! Awards 2013 Comedian of the Year: Vice Ganda

OMG! Awards 2013 Comedienne of the Year: Eugene Domingo

Eugene Domingo, Comedienne of the Year and Vice Ganda, Comedian of the Year.

OMG! Awards 2013 Male DJ of the Year:  Papa Jack

OMG! Awards 2013 Female DJ of the Year: Nicole Hyala

OMG! Awards 2013 Radio Show of the Year: Tambalan

OMG! Awards 2013 Radio Station of the Year: Barangay LS 97.1

OMG! Awards 2013 Male TV Host: Vic Sotto

OMG! Awards 2013 Female TV Host: Toni Gonzaga

OMG! Awards 2013 Male Performer of the Year: Elmo Magalona

OMG! Awards 2013 Female Performer of the Year: Julie Anne San Jose 

OMG! Awards 2013 Fan Club of the Year: JuliElmo Pexers

OMG! Awards 2013 Best News and Public Affairs: TV Patrol

OMG! Awards 2013 Movie of the Year: It Takes a Man and a Woman

OMG! Awards 2013 Love team of the Year: Kim Chiu and Xian Lim

OMG! Awards 2013 Child Star of the Year: Ryzza Mae Dizon

OMG! Awards 2013 Best Noon Time Show: Eat Bulaga

OMG! Awards 2013 Teleserye of the Year: 'Ina, Kapatid, Anak'

SONA: State of Nation Address 2013

State of Nation Address 2013.

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#SONA #PNOY #Philippines #Senate #Congress

SAMSUNG PAYS APPLE $1 BILLION SENDING 30 TRUCKS FULL OF 5 CENTS COINS

This morning more than 30 trucks filled up with coins of 5 cents arrived at Apple’s headquarters in California. Initially, the security company that protects the facility said it was diverted to the wrong place, but minutes later, Tim Cook (Apple CEO) received a call from Samsung CEO explaining that they will pay $1 billion dollars for the fine recently ruled against the South Korean company in this way.

the funny part is that the signed document does not specify a single payment method, so Samsung is entitled to send him to the creators of the iPhone its billion dollars as they deem best.

This dirty but genius geek troll play is a new headache to Apple executives in the sense of the method that they need to apply for counting all that money, check if it is complete and try to deposit it crossing fingers to hope a bank will accept to receive that.

Lee Kun-hee, Chairman of Samsung Electronics, told the media that his company is not going to be intimidated by a group of “geeks with style” and that if they want to play dirty, they also know how to do it.

You can use your coins to buy refreshments at the little machine for life or melt the coins to make computers, that’s not my problem, I already paid them and fulfilled the law.

A total of 20 billion coins, deliver hope to finish this week.

Let’s see how Apple will respond to this 

Eat Bulaga Indonesia (Opening Theme)