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Money

Building Responsible Credit Habits

by Bogie August 18, 2022

In today’s economy, using credit is one of the most powerful tools to get a house mortgage, acquire a new car, or just doing ordinary daily purchases. Once you have started off your credit journey, it is important that you build good credit habits because this can create a great impact on your financial goals.

Here are a few tips on how to build responsible credit habits.

1. Plan your Financial Goals

A financial goal is a plan you have for your money. This includes how much money you will save, and how much you will spend. Moreover, you also have to plan how you will pay off any current debts and weigh credit options carefully.

Once you have written down your financial goals, make sure that it is truly the goal you want for yourself. Planning your financial goals is essential so you can achieve what you want for your money and have a positive credit profile.

Once your financial goal is clear to you, it will help you change how you look at your money and how you will manage them properly.

2. Pay Your Bills On Time

Paying your bills on time is one of the important aspects of managing your finances well. It can help you save money, lessen your stress and build a solid credit history. On the other hand, If you don’t pay your bills on time it can damage your credit score, cost you money for paying interest and create other financial problems in the future.

If you are the type of person who doesn’t pay bills on time, the chances of availing of credit and loans are less. Although, you may still be able to avail of loans for bad credit like short-term loans, make sure to pay them on time to avoid more financial problems in the future.

3. Monitor Your Credit Regularly

Monitor your credit by reading your credit card statements, billings and etc. By doing this, you will be able to keep track of how much debt you will pay for the specific month. Moreover, you will be able to correct if there are errors and other identity theft threats.

4. Don’t Buy Things You Can’t Afford

If there are things you wanted to purchase, evaluate first if you can truly afford them. If not, you should wait to buy it until you can afford it. If you are buying things you can’t afford, you will end up achieving those through credit. The next problem would be is to look for the money to pay for it.

As Dave Ramsey would say, “Don’t buy things you can’t afford with money, with money you don’t have, to impress people you don’t like”.

Do you plan to buy a house? Evaluate your resources first by understanding your income and other potential expenses.

5. Establish Good Saving and Spending Habits

One of the good ways to have good saving and spending habits is to create a budget and stick to it. Monitor how much you earn and how much you spend. By doing this, you can track and manage your expenses better.

These are just a few tips for building good credit habits. You may not be able to do them overnight, but you just have to take one step at a time towards building responsible credit habits. One day, you will thank yourself for the discipline that you make and the positive impact it has made in your life.

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6 GOOD MONEY HABITS TO BUILD THIS YEAR

by Bogie January 12, 2022

It is good to start the new year right, especially when managing your hard-earned money. Our habits can make a significant difference in reaching our financial goals. It also determines the state of our finances. We probably had terrible spending habits last year; however, we have the power to improve our financial status today by taking small steps of change that will bring impact to our financial health. Below are the habits you need to build to improve your financial situation.

1. Set a Clear Financial Goal

Write down your money goals for this year. It can be a short-term or long-term goal. As you write your goals, make them specific. Common financial goals include getting out 1. of debt, saving for retirement, building an emergency fund, and many others. Your goals will serve as your motivation, and it will allow you to look at your money differently. You will begin to see how every decision you make matters to your financial health.

2. Create a Budget

Creating a budget is very important for you to reach your financial goals. It is how you get intentional with your money. It allows you to live within your means. Some people fail to budget because they think it is unnecessary, especially with the little money coming in. However, if you want to make your financial goals come into reality, you must know what money is coming in and what’s going out when you are spending.

You may try to create a spending plan. You can find a lot of templates available online and just edit them to suit your needs. Once you have made your budget or spending plan, always stick to it.

3. Save

It is essential to prepare for any expenses that may come unexpectedly. Saving money is necessary to have a secure financial future. As financial experts would say, the more you save, the easier it is to finance your long-term goals. It will also be easier to handle financial emergencies such as house repairs, medical bills, etc. Saving money might not give you the immediate reward, but it will surely pay off in the long run. You might not have everything you want right now, but it will be exciting when the day comes that you can pay cash for things.

When you get paid, the idea of saving is to set aside a certain amount of money for your future. You have to do this before you spend money on anything else. How much money you should set aside for saving is totally up to you.

Since it is the start of the year, you might want to start a Money Saving Challenge. A money-saving challenge is a fun way to save and, at the same time, help you with your goal. You can find a lot of resources on this online. Whatever saving challenge you take, remember to set realistic goals for saving, and don’t push yourself too hard.

4. Pay Off Debts

Dealing with debt, especially during the pandemic, is challenging and stressful. However, you have to include it in your goal this year to pay off your debt, as it gives you more opportunities to save. If your resources are getting back on track, you may start making a habit of paying more than the minimum to eliminate your debt ahead of time. Moreover, settle those debts that are easy to pay first and then move on to pay off another debt one after the other.

Also, make it a habit not to accumulate debt. The more debt you have, the more your monthly fees and the less money you will have on savings and buying other essentials.

5. Use your Money Wisely

Investing your money allows you to grow your money over time. The earlier you invest, the more financial security and wealth you will have. If you haven’t started investing yet, this year might be the best year to start. You are never too young to start planning for your future. If you are not very familiar with investing, you can ask for help from financial advisors. You may also read additional information here.

6. Track Your Financial Progress

Don’t forget to track how much progress you’ve made on your money goals. How much debt have you paid off? How much money have you saved for a home or a vacation? Tracking your progress will motivate you to pursue what you have started.

These tips are easier said than done, as establishing better money habits takes time. However, if you have the discipline to pursue what you want for your money, you will surely achieve your goals. The sacrifices you will be making today will surely be worth it in the long run.

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Upgrade to your dream lifestyle with GGives on GCash

by Bogie January 11, 2022

Want to buy a smartphone so you can stream better content on social media? Are you thinking of buying mom an automatic washing machine on her birthday but don’t have enough funds yet? Now, you can use your e-wallet to make life better for you and your loved ones as GCash introduces GGives, the newest feature on the GCash app where users can shop from their favorite brands, treat themselves or buy gifts for their loved ones, and pay for them later through easy and flexible installments.

GGives offers select users the opportunity to buy items valued up to PHP 25,000, which they can pay in up to 24 installments or “gives” over 12 months. To make payments even lighter, GGives allows users to pay twice a month during paydays. With the launch of GGives, no need to worry about downpayment and processing fees, too!

Registering for GGives through the GCash app is easy and convenient. For eligible users with a high GScore on the GCash app, they can activate GGives in just three easy steps. Right after that, users can choose from over 26,000 stores via Scan QR.

Here are just some of the partner merchants you can buy from using the GGives feature on the GCash app to experience a next-level lifestyle.

For a better home and work life. Most of us are working or taking classes online because of the pandemic. So, it can be a good time for an upgrade so you work productively and comfortably — even from home. Thanks to GGives, you can do just that with ACE Hardware or All Home for all your home improvement needs. For gadgets and accessories to complete your work-from-home set up, you can use GGives at Power Mac Center or PC Express. And if you want to show off your trendy OOTD for your upcoming meetings or virtual parties, you can choose from a wide array of outfits at Nike, Zara, Lacoste, The SM Store, and many more partner merchants.

For stress-free daily errands. Ever experience running short on cash while you’re on a grocery run? You can save yourself the hassle with GGives! You can shop now and pay later for your essentials when you check out your favorite merchants’ stores, such as SM Supermarket, SM Appliance, 7-Eleven, Ministop, and Shell Select.

For delicious treats. Bonding over great food with your loved ones or indulging in your favorite restaurant meals is made possible with GGives and partner merchants such as KFC and S&R Pizza. Or if you’re a coffee-lover, then a latte from Starbucks can make your day even more special.

For optimal health and wellness. During these trying times, our health should come first! You can buy essentials to help boost your health and overall well-being at GGives’ partner merchants such as Mercury Drug, South Star Drug, and Watsons.

Experience your life easier, better, and on a whole other level when you scan to pay with GGives via the GCash app.

Not yet on GCash? You can download the GCash App for free on Google Play or App Store.

For more information, visit https://help.gcash.com/hc/en-us/articles/4411269013529-What-are-the-things-that-I-need-to-know-before-using-GGives-.

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