Personal Finance

How to Calculate Your Real Hourly Wage and Why You Should Do It

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How to Calculate Your Hourly Wage and Why You Should Do It

Here’s a very neat method I learned from the classic personal finance book,  Your Money or Your Life: how to calculate my real hourly wage and why I should do it.   The concept is this:   Which raises the question: are the things we’re spending money on worth the life we’re giving up to buy them?   How to Calculate Your Real Hourly Wage Coming up with our real hourly wage isn’t as straightforward as we’d like to think. We think that our salaries (including benefits, etc.) is our real wage. Not so.   The real hourly wage is computed by considering how much you actually earn when you include costs for you to be able to keep going back to work.   The usual expenses associated with job-keeping include: Commuting to and from work Costuming/work clothing Meals Escape entertainment   Once you add up all these additional costs and […]

Expat

6 Ways to Maximize Government Benefits as a Pinoy Expat

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6 Ways to Maximize Government Benefits as a Pinoy Expat

Many Pinoy expats, including myself, often fail to maximize government benefits when we start working abroad. We often discount programs in the Philippines thinking that: Since we’re no longer in the Philippines, the benefits will not help us in our new country The benefits are too small compared to our new increased income The benefits are not worth the bother Nothing can be further from the truth. Yes, not one of these programs will make us rich or guarantee that we’ll be set for life when we come back home. But when we take them all together, these can help secure your financial future. Each of the programs I will feature in this article are mutually-reinforcing, meaning they help other programs in this list become more effective. First of all, when I say expat, I mean this: I hope that’s clear. How to Maximize Government Benefits as a Pinoy Expat […]

Back to Basics

How to Achieve a Total Money Makeover in the Philippines

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How to Achieve a Total Money Makeover in the Philippines

I’ve been trying to follow the financial advice of so-called experts to try to achieve a total money makeover in the Philippines but nothing seemed to stick. Most of the advice I found were either the feel-good touchy-feely type (you have to think positive thoughts to attract wealth), too unrealistic and out of touch with how human beings work (don’t spend on ANY luxury and eat beans and legumes for an entire year), too chaotic and/or unstructured (set aside 20 percent on savings and don’t stress about the rest), or can land you in small claims court (pay yourself first before paying your creditors). These advice may work for other people but not for me. Me, I need structure. I want lists, bullet points, flow charts. I get a kick out of writing to-do lists and then ticking them off. I have an entire shelf of personal finance books in […]