Finance Tips

Savvy- tips for OFW’s

Some people consider debt as evil especially when it puts them in nightmarish situations.  However, debt can be a helpful tool to grow your money and finance your goals. Debt is good when it is utilized for the right purpose. For many Overseas Filipino Workers (OFWs), fulfilling their wish to go abroad requires getting a loan in any possible form. Money loan Philippines is one of them. This kind of loan assists OFWs to pay…

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Savvy- tips for OFW’s

Posted by Billy Na on August 11, 2018
Category: Finance Tips

Some people consider debt as evil especially when it puts them in nightmarish situations.  However, debt can be a helpful tool to grow your money and finance your goals. Debt is good when it is utilized for the right purpose. For many Overseas Filipino Workers (OFWs), fulfilling their wish to go abroad requires getting a loan in any possible form. Money loan Philippines is one of them. This kind of loan assists OFWs to pay a placement fee or other necessary fees pertinent to their flight. To qualify for this, the Overseas Certificate of Employment (OEC) is necessary together with essential requirements.

OFW loan for ph is also offered to allottee (wife, dependent or first-degree relative of the OFW).  This helps the family during emergency purposes or augment fund for projects such as home mortgage, business capital, and investment plans. Whatever the reason, securing a loan to make your life better is a good way to achieve stability and security of the whole family.

Savvy- tips for OFW’s:

  1. Set your monthly family budget

It is important to set a budget to make sure that OFWs remittances are used properly. A realistic budget prioritizes the basic needs over wants. A good budget helps the family to save money. However, make sure that all members of the family know the details of the budget and committed to following it diligently.

  1. Enroll in an auto-debit program

This assists OFWs to save part of their hard-earned money. An egg nest is vital because it guarantees fund in case of emergency. It can also be arranged to pay your investment plans directly. This prevents you from spending the money for other purposes.

  1. Begin investing

Investing is a highly-recommended way to earn passive income while working as OFW. Find an investment type which you think will give you profitable returns. Start small to test the waters. Unit Investment Trust Funds (UITFs), Mutual Funds, Treasury Bills, Stocks, and Bonds are some of the best investment plans.  Another popular investment is real estate. Many OFWs buy condominiums in Metro Manila and rent them out or used them as bed & breakfast spaces.

  1. Start a business

Putting up a dream business is fulfilling yet challenging. The Return on Investment (ROI) depends on its success. Getting a franchise of a well-known brand is a better option if you want to guarantee a profit. Be ready to shell out a larger amount of capital for the franchise fee. If you need additional fund to finance start-up expenditures, your backup plan can be an OFW loan for ph. This can be your lifeline every time you need to finance some minor to major expenses in your business venture. Once you pay off the current loan, getting a re-loan is easier.

Overseas Filipino Workers (OFWs) are considered modern-day heroes due to the fact that their remittances contribute 10% of Philippines’ Gross Domestic Product (GDP). Aside from the immediate purpose of bringing a better life for their families, OFWs ultimate goal is to save to put up their own business that will provide a steady income once they decide to come back home.

Aside from saving, another option to get capital is getting a loan from a legal money lender. One of the easiest types of loan is the OFW loan. The approval period is also fast. Once you are able to pay the outstanding amount of loan, you can apply for a larger amount.

Top 3 Business Ventures recommended to OFWs

  1. Travel Agency

If you love traveling, invest your money to start a travel agency. A travel agency offers ticket booking, tour packages, passport and Visa assistance. It allows you to pursue your passion and promote the beauty of the Philippines. Use your experience abroad to attract clients here and abroad.

  1. Recruitment Service Agency

As OFW, you know the basic steps and information regarding workers recruitment. Of course, you need to apply for a Philippine Overseas Employment Administration (POEA) accreditation before you can start your recruitment agency aside from other necessary permits and licenses. As a legitimate agency, you can help Filipino workers find jobs abroad. If you need additional fund for start-up expenditures, find the best lending agency that offers OFW loan for ph.

  1. Buy & Sell Imported Goods

One of the best way to augment your earnings while working abroad as OFW is buy imported items and sell them in the Philippines. In this type of business, your family can help you in marketing and delivery aspects. You can start by per order basis. Once you have established your buy and sell business, you can put up your own store back home or an online store. Promotion is easy, thanks to social media and internet.

These are just some of the interesting and lucrative ways to earn money while you are still working abroad. Once it is well-established and gaining profits, going back home to be with the family will be easier.

So I’ve been browsing some good loan sites in  Singapore I found out a reputable licensed moneylender in Singapore which has been in the moneylending business for more than 4 decades, and they have a long list of satisfied clients who keep on coming back.

The clients never had even one issue against Cash Mart, because of the very good services, including those in online portals, are all secured and safe.

Their team values the customer’s trust because they know that their personal information is as important as Cash Mart’s.

When it comes to online loans processing, it is not surprising that many are keen on filling out their personal information.

As one of the most trusted lending company, all your information will be handled as if it were theirs, and they have a long list of avid clients to back it up.

Decades of Strong Reputation

They take pride in their built reputation. Join the clients who have been coming back with satisfaction on the services and confidentiality.

With Cash Mart’s professional team, it’s a guarantee that all the personal information passing by their hands are treated as gems kept in a safe.

You are the priority of the business. Giving loans is one thing, but developing a strong relationship with you is the key towards trust. Rebuild a better credit score though Cash Mart, and they will surely handle everything discretely and with utmost security. You and your financial stability are safe with them.

Quick Approvals

A lender should understand that you want a loan to fund your needs as soon as possible. With this in mind, they require only a short list of paperwork from potential borrowers to make the process faster.

Once you requested for a loan through the online site, the eager team will look right at it immediately.

So when you need to get a quick cash for additional business funds, a new gadget, house repairs, medical bills, or school expenses for kids? Cash Mart is not only known for giving loans fitting to your lifestyle and needs, they are also known to approve loans faster than most moneylending firms.

All you have to do is register and request a loan throughout the online portal. We require very few paperwork, making the process quick and simple on your side of the deal.

Once your loan has been verified, you can get your fast cash loan in Singapore immediately.

Letters of Credit and How they Work

Posted by Billy Na on June 16, 2018
Category: Finance Tips

For certain business transactions such us purchases between buyers and sellers, there are instances where the purchases may be significant in amount. In these cases, a form of payment entered in by both buyer and seller for a more secure type of payment is possible. This type of secured payment is coursed through a bank instrument which is popularly referred to as a letter of credit.

A letter of credit is a form of payment that is considered by the seller as payment and will consequently consign the goods to a carrier.

The carrier will then hold on to the goods and provide a detailed list of the goods that have been consigned. This list of goods is considered as the “Bill of Lading”. The bill of lading document will then be secured by the seller to the seller’s bank and receive payment coming from the seller’s bank.

The seller’s bank will then create a bill that includes the bill of lading and sends the bill to the buyer’s bank. The buyer’s bank will then bill the buyer and will be required to pay.

Once the buyer has paid the bank, only then will the carrier release the goods to the buyer where physical delivery of the goods may be completed.

The importance of using a letter of credit to pay transactions that buyer and seller enter is often related to transactions that require high-value payments and are often international transactions.

There are also certain countries where the buyer would require a letter of credit for completing the transactions.

These letter of credit prove to be advantageous as it offers a good balance of security to both the buyer and the seller. The reason behind this is that banks are primarily involved as both the buyer and the seller are dependent on the security of the banks.

These simple methods can often assist a business do transactions with another entity who is located in another country.

The letter of credit provides security and allows the buyer enough time to come up with the money to pay for the goods. The seller, on the other hand, has already claimed payment while the carrier is waiting for the buyer to give payment.

As the real estate market continues to expand, everyone now has the chance to make a lucrative income over time. Well, it won’t be easy at first since you need to develop a keen eye on reading the market and analyzing opportunities. Other people will also tell you to move away from real estate because it’s volatile and sometimes uncontrolled. That may be true at any given time, but you can make it big in the real estate market by applying the right strategies.

Have a Home Value Range

 If you’re scouring the market for homes with specific values, you can now do it easily. By pouring over real estate websites, forums, and communities, you’ll get the leads that you’re looking for. It may be tempting to grab the first few offers, but speculation should be your game. By speculating about your options, you can make a proper decision in a few weeks or so. It’s advisable to keep a proper home value range in mind. With this, you won’t be swayed to take any offers along the road.

ask advice to real estate experts, finance experts about your venture.

Work with a Real Estate Expert

There are many real estate experts that are always willing to lend a helping hand. The experts can provide information on how you should approach the market and what kinds of homes should you aim for. These experts may work for some real state firms or are just freelancing around for any opportunity. Before relying on an expert, make sure that he has extensive knowledge of real estate and market performance. You don’t want to work with someone who will just give you random shots against the market.

Join a Real Estate Community

By joining a real estate community, you’re expanding your choices and speculation methods by a large margin. Occasionally, you may encounter few experts who will share their thoughts and everything they know about the market. Another advantage of joining real estate community is the network of friends that you’re going to make. This is very important for your real estate venture.

Any real estate project will take patience, determination, hard work, and a large stockpile of cash. Secure your resources as soon as you can and make sure that your journey is as foolproof as possible. And don’t forget to get your car from Singapore car loan providers if your real estate business grows into progress.