Budgeting your way into financial success

“How do you spend your hard-earned cash?” is a question that should be taken seriously. Most of us can be careless when it comes to spending money. We use it up without thinking only to realize we don’t have enough to bring us to the next payday. There are moments that we try to be thrifty only to lose our control when sale season comes. And the solution that we think of – swiping that credit card!

How many times have we heard of the statement, “Live within your means.”? It’s not that people do not want to follow this golden rule; sometimes, they simply don’t know how. Sheila Ching, a registered financial planner and senior financial consultant for AXA Philippines stresses the importance of keeping your expenses in sync with your earnings, so you won’t find yourself always waiting for the next payday.

Create a budget. A budget plan will be your starting point to manage your income. To make a budget, Sheila advises to list down all expected and probable expenses for the month and categorize them based on your expense type such as household utilities, mortgage fees, entertainment, etc. Allocate your money to each item in the category then subtract your total expenses from your total income. An excel spreadsheet can make doing this easy.

Identify your spending habit. Take time to track where your money is going. Record your daily expenses. Do you really need to spend on Starbucks coffee every day? Do you really have to ride a cab? Think about it. You might realize you’re spending too much on things that don’t really matter.

Plan your purchases. Plan your purchases so you can better manage your cash outflow. Sheila’s suggestion is to know the estimate amount of the thing you wish to buy and plan when you intend to buy it. If for instance you intend to buy something that costs around 20,000 pesos, four months from now, it means you have to raise 5,000 pesos a month. If you think you can’t, you may consider delaying the gratification. Wants can wait, and it is better to wait than get it instantly by swiping your credit card only to realize in the end that you can’t afford to pay the price.

Use your credit card wisely. Sheila recommends using credit card only for emergency purpose or when you are certain that you have the money when the bill arrives. This is to avoid paying the interest which goes as much as 3.5% a month. Take note that the interest accumulates over time when you fail to pay in full.

Save for the rainy day. When payday comes, before you start making any purchase, take away a portion of your salary – at least 10% - and save it as your emergency fund. This is to be used when something unexpected arises such as when you lose a job or get hospitalized. If you’re having a hard time, start with 5% and increase it when you get a salary raise. Build an emergency fun that is equivalent to at least 3 times of your monthly salary. When you have saved enough, Sheila suggests putting a portion of your emergency fund in an ATM account, a portion in checking account and a portion in time deposit. WILLETH LAUS

For financial consultations, contact Sheila Ching here.

Winning the Perfect Shot

Basic Travel Photography Tips

Summer heat is now kissing our skin. I’m sure it is not only me who can’t wait to worship the sun, the sand and the sea. Summer vacation spells swimming, sunbathing, camping, mountain climbing, nature-tripping and a hundred more adventures. But one action that summarizes them all is one of my favorite hobbies in the world—traveling!

Discovering new and far-off places is one of the things I best look forward to every summer. My points of interest range from God-made to man-made—ancient trees, bodies of water, sea shores, rice fields, farm animals, nipa huts, hilltops and caves. My eyes could capture them well, but stories are always better with visuals attached. And so, with my traveling comes photography, which allows me to share my divine experience with nature to the rest of the world.

Not everyone has a knack in photography, but it is a skill that can be learned through considerable amount of practice. It doesn’t matter if what you have in your bag is a pricey SLR or a basic digicam. Just hold it high, keep your focus and aim all you want. Now, let me share some tips on vacation photography that my artsy friends and I keep in our pockets every time we go out of town.

• Do not over pack. It’s best to just bring the equipment—camera, tripod, batteries and memory cards—you need for easy traveling. A huge pack will be harder to carry as you tour from one place to another. Plan ahead what you need for where you are going.
• Get out of the hotel. Take pictures of the beach, the sunset, and other flattering sceneries. And don’t miss out on local cuisine and great architecture. Capture the culture of the place you are in, and take as many pictures as you can.
• Experimenting is your key to productive vacation photography, so try different angles and techniques in shooting.
• Get in the spotlight and prove that you’re there. You might get carried away shooting those scenic beauties and forget to include the human element.
• Make your photos tell a story. Try to get some action shots and not just you and your family or friends always standing in front of a scenery or landmark.
• If you are with your family, consider taking kids’ photos first. They may not be that fresh and game after hours of walking. Capture their excitement with that amazing scenery or landmark at the background.

Hope these tips help you in your vacation photo shoot. Don’t be afraid to take that shot. Grab your gadget, focus and snap the button! MYKA SANTIAGO

Be a professional photographer? Take photography lessons! View Ad.

Summer Loving with Dogs

As the weather changes from somewhat chilly to humid, sun-worshippers prepare their travel odds and ends for the ultimate summer getaway. Humans can bathe under the heat of the sun for long hours protected by sun block lotion with high SPF, but what about our best friends – the dogs which are our favorite companions for almost all occasions.

Dog-owners love to drag their cuddly-wuddly pets anywhere, anytime like during a morning jog in the park, an afternoon stroll in the mall, or an evening dinner at a nearby pizzeria. And during this season, those who have considered their pet dogs as part of the family will not forget to bring them along to lovely summer destinations like vacation houses in the province, beach resorts, and even on out-of-country trips.

But do you know that traveling and other outdoor activities are not actually recommended for dogs during hot days? It does not take a genius to know that a dog’s body is heavily covered by furs and that they do not have sweat glands. They release the heat from their bodies through deep breathings. And so, you may observe how warm they feel inside by the way their tongues droop from their mouths.

Lovepets.com President Joey Tiosayco says, “It is not just about the sun being out and hot. A bad humid climate condition could be worse to our dogs. When we feel hot and sweat up, our dogs feel much worse than that. How many times worse? It depends whether your dog is acclimatized or not, more coaty or not, hyper or not—just like humans who move a lot, they sweat up more than the inactive ones.”

However, dog-lovers need not worry! Your bonding moments with your charming pets are not really over this summer season. Hear out some tips from Lovepets.com on how you can spend happy times with your dogs outside the coziness of your house.

Minimize your dog’s sun exposure between 10am to 3pm. The Animal Welfare Law Republic Act 8485 of 1998 says it is not advisable to expose your dog under the direct heat of the sun from around 10am to 3pm (when it is hottest).

Have a bowl of water ready all the time. When you bring your dog out, chances are your dog would play and run around with you or with other dogs in the area. So, always bring water and a bowl then, have it ready in a spot as you and your dog settled in a particular place. Dogs will find their way there every time they feel the need to drink. It is actually better that way than you initiating them when to drink or not.

Let them have their water ice-cold. Bring along a small cooler with lots of ice and store the bottled water inside. If you want to travel light, put the bottled water in the freezer the night before your trip until it gets icy. Wrap the icy bottle with towel and pack it safely in your traveling bag. The ice will slowly melt along the way and you will have a real cold drink for your dog.

Give your dog an extra support. Water is enough but it pays to give your dog a rehydration support like the one from Royal Canin. It is a powder that has to be mixed with water for instant rehydration and energy booster.

Keep them refreshed with instant cool wipes. Dampen a small face towel with clean water. Place the damp towel in a plastic bag, then keep it in the freezer overnight. Pack it safely in your traveling bag. The cold towel will come handy in helping your dog beat the summer heat. Do not wait for your dog to react negatively with the hot temperature. Just wipe the towel on the areas where there is less coat (fur)—face, belly, hip and armpit—from time to time.

Don’t make your dog a fashion victim. Don’t force your dog to wear clothes especially when going outdoors and in places that are not properly ventilated. Imagine how hot a dog feels with that built-in fur which is impossible for them to take off for a while, unlike the piece of jacket that we, humans, wear which we can easily remove from our body anytime we like.

Check on their needs every now and then. Yes, you can bring your dog to the beach. Just be more cautious with dogs that are into it as a first time experience. Sporting breeds like Labradors and Golden Retrievers may love and enjoy the water more than any other breeds. Let your dog feel the summer fun, and don’t forget to check on all their needs from time to time.
Seek help from a veterinarian when the need arises. It is hard to tell if a dog is about to suffer from a heatstroke. The signs would only show when the condition gets irreversible, and that stage could be very fatal. When your dog collapses, rush it to a vet and apply cold body rub right away on the face, belly and other areas that have less coat (fur). MYKA SANTIAGO

Lovepets.com is a pet welfare group that promotes responsible pet ownership. Join their cause. View ad.