Life Lesson: When a Son Brings His Family Deep in Debt

Advertisements The source of drama this week was care of my daughter’s yaya (babysitter). Our yaya is hre family’s breadwinner and supports her Mindoro-based unemployed husband and her five male children, one of whom is already working in Batangas. The eldest is 21 years old and is working in a feeds factory in Batangas. Yaya […]

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Life Advice: A Car is one of the Worst Purchases You can Make (Unless You can Really Afford It)

Advertisements A credit investigation field officer arrived today to ask whether a certain Jane** is working for our company. Apparently, Jane has applied for a car loan at the Philippines Bank. She is planning to buy a Mitsubishi Mirage which retails for around Php 650,000 brand new, and Php 365,000 second hand. The problem was, […]

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When Debt is a Ticking Timebomb

Advertisements My father-in-law warned me from being jealous of the very rich men in the country. He said, “Don’t ever think they are rich just because they say they are rich. You never know, they are even poorer than we are.” What he meant was this, while many businessmen may be paper rich, they may […]

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Don’t borrow money. Just cut back.

Advertisements For many Filipinos, it is easier to borrow money when times get tough. And to return the money when we already have money.  The problem is, it’s not easy to borrow money. If you have a habit of borrowing money, people will start to avoid you. They don’t want to be around you because […]

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