10 Ways on How to Waste your 13th Month Pay

automatic_trash_canHow long have you been working? And how many times did you received 13th-month pay? The main question is, how did you spend your 13th-month pay? Many employees received their 13th-month pay but just to spend it all away during Holiday season.

This is a sure way to waste your 13th-month pay

  1. Spend on something that you don’t need. Example, you want to be popular in your office, buy a new iPhone 6 Plus even you have your iPhone 6 fully working.
  2. Go to Department store and buy things on sale but you know that you will not use it in a few months and you will just put it in your cabinet.
  3. Buy new shoes even you have 6 pairs of shoes in your closet that you are not using.
  4. Go to casino and gamble your money
  5. Go to beerhouse and drink a lot and pay a huge amount of money for a 1 night happiness (that is according to you).
  6. Spend 13th month pay without consulting your wife/husband.
  7. Buy stocks due to hype as mentioned in the forum where you belong.
  8. Invest in something that you did not study, you just invest because your friend said its the best investment.
  9. Invest in something that everybody knows that it’s a scam. You have self-denial that you believe you can get immediate income buying that product.
  10. Throw your money in the garbage can.

Well, I hope you know what I mean, spend your money well. Give what is due to God, share your blessings and think of something that after a year you will say that I have placed my 13th-month pay in place where I know it will grow and you can be a blessing to others.

Why Using Philippine Credit Card is not suggested for Foreign Transactions?

Did you face a situation that you are travelling in a foreign country and you cannot do anything but to use your credit card for your purchase? Well, I have done it many times and it’s a bit strange for me that the conversion rate is always high compared to the prevailing market rate. Upon my research, I found that credit card company charges 3.525% on all my foreign transactions. Did you know that it is hard to earn 3.525% in any investment portfolios. Forex might be different of course.

Foreign Transactions – All charges made in foreign currencies will automatically be converted to Philippine on the posting dates at the prevailing exchange rate determined by Via/Mastercard. A fee up to 3.525% will be imposed on the converted amount which represents our service fee and assessment fees charged by VISA/Mastercard.

The above information answers my query about the high exchange rates when purchases are being converted. What more if this expense were not been paid immediately? The said expenses will incur 3.5% interest or based on the prevailing interest rate of your credit card company.

This is just a reminder for using your credit card for foreign transactions. This also applies if you are using your credit card for online payment which is normally using US Dollar.