Smart Asset Managers Founder Believes Filipinos Should Benefit From Filipino-Owned Businesses

Wazzup Pilipinas!

Who else should primarily benefit from businesses owned by Filipinos but their own fellow Filipinos. Thus, many should be excited about this new firm that is about to launch as well in the Philippines.

As the saying goes, love local - prioritizing every Filipino-made brand, product or service, to primarily patronize the brands made in the Philippines. Thus it goes the same for entrepreneurs or businessmen to put into consideration giving the Filipinos the most opportunity  to gain the best possible benefits out of Philippine-owned firms.

Rommel Santos is Philippine-born and he may be Australia-based but the Smart Asset Managers (SAM) founder and entrepreneur, said that his company, is a subscription-based firm that aims to revert to the conventional method of entrepreneurial journey through sharing economy, and this means that he also pushes for the creation of a cooperative wherein every subscriber automatically becomes a member of a coop.

"…… the State shall recognize cooperatives as associations organized for the economic and social betterment of their members, operating business enterprises based on mutual aid, and founded upon internationally accepted cooperative principles and practices” as per Republic Act 6939 that created the Cooperative Development Authority (CDA).

Santos wants SAM subscribers to be covered by a cooperative so Filipinos will benefit from whatever profit SAM will gain.

For now, a subscriber of 300USD gets rewarded of up to 15% monthly distributed daily to his SAM E-wallet account. It entails pre-development capital raising.

With a subscriber’s coop membership, he then has the sense of ownership or belongingness. Another is for Filipinos to have the income opportunity or beneficiaries are the general public.

AsTAs mentioned, the Melbourne, Australia-registered firm will soon have a grand launch in the country after settling all its amenabilities and formalities with the Philippine government.

Santos says that Smart Asset Managers Project Developments (SAMPD), wants to disrupt a long-going business practice of some foreign companies operating in the Philippines “where they write off or deduct their taxes by bringing out money from the Philippines to avoid paying appropriate local taxes should which should not be the case. "Let the benefit go where it should,” he explains. “We are not after any tax holidays, tax breaks or tax reliefs.” Santos has long announced that he wanted to contribute to bring positive changes to Filipinos’ financial state.

Especially now that the Philippine economy needs a big boost during the Covid-19 Pandemic when many businesses have either closed down or laid-off their employees, we have to commend the founder for such an honorable endeavor.

5 Best Times to Get a Bank Loan in the Philippines

Wazzup Pilipinas!

There are many reasons to get a bank loan in the Philippines, whether it’s for personal or business purposes. The problem is that sometimes, you might be borrowing at the wrong time. When you take out a loan at inopportune moments, you might end up buried in debts. In short, before getting any loans Philippines-based banks are offering, you should get the timing right. This way, you can create more opportunities and ensure that you’re getting the most value out of the money you borrow.
That being said, here are five best times when you should definitely consider getting a bank loan in the Philippines:
When You Want to Consolidate Your Debts
If you have multiple active loans (with different due dates, no less), it’s a good idea to get a personal loan and consolidate your debts. Doing so will not only be more convenient but can also help you save more money in the long run. For one, consolidating your debts means you only have one due date to worry about. Thus, you’re less likely to miss a payment deadline and in turn eliminate the need to pay overdue fees.
When you take out a loan for debt consolidation, you also end up with lower interest rates. This is especially beneficial if one or more of your active loans have higher interest rates. In addition, consolidating your debts can make it easier for you to budget your money. You’ll be able to choose more flexible payment terms, which can further make money management more convenient.
When You Have Emergency Expenses
First, let’s set things straight: the best way to deal with emergency expenses is to still have an emergency fund. This fund should ideally be worth 3 to 6 months of your income so that you don’t have to stretch your budget too tight. That said, there are times when your emergency fund still isn’t enough to cover your sudden expenses. In this case, getting a personal loan is a viable solution.
Obviously, you have to qualify what truly constitutes an emergency. Don’t take a loan for the purpose of buying new gadgets or traveling to your dream destination; these are expenses that you can save up for. Instead, evaluate the consequences of a situation. If the price of not shelling out money is too steep, then it’s probably a good idea to consider a personal loan.
When You Want to Make More Money
Investing in things like online courses or certifications is a worthwhile cause, especially if it opens more opportunities for you to advance your career. Obviously, you have to do your research and make sure that such opportunities will work out in the end. Otherwise, you’ll be stuck with a debt that you can’t pay.
You may also want to consider money to invest in stocks or properties to accelerate wealth building. Again, however, you have to do your research. Remember that the more money you invest, the more money you can also make. On the other hand, borrowing money to make an investment is a high-risk strategy. You may end up making a lot of money or losing a lot of it. Make sure that you understand these risks before deciding on getting a loan.
When You Want More Capital for Your Business
If you’re running a small business, you’re going to need money to sustain your daily operations. This money is called the working capital and not having enough of it to go around might cost you significant losses. As such, you may want to take out a bank loan that’s specifically for micro-entrepreneurs or small businesses. Different banks have different requirements, but most will need your business to be registered with the proper authorities.
With more working capital, you’ll have a little more peace of mind and you can then focus on growing your business. You might even soon be borrowing more money for the next reason that will be discussed below.
When You Want to Expand Your Business
If your business is already doing well and you want to expand your operations, you might want to consider taking out a loan. You can then use the money to acquire new property, invest in new equipment, or develop new products. Do note that there are different kinds of business loans, such as secured and unsecured loans (non-collateral and collateral). Depending on your business’s needs, as well as your capacity to pay, there are certain advantages of one over the other. Study them thoroughly before you make a decision.

What you have to remember is that not all loans are bad. Indeed, you’ll find that even the richest people and most successful businessmen still borrow money from banks. The key is to be strategic. Don’t just take out a loan on a whim, but rather have a solid plan for the money you will borrow.

5 Comfort Food for Rainy Days

Wazzup Pilipinas!

June marks the start of the rainy season in the Philippines. It’s also a strange time that makes us feel like cozying up at home and grabbing a bite of our comfort food. Luckily, Filipino food culture is booming with delicious meals that will surely satisfy you during the La Nina season.

Craving for comfort food? Check out these foods below!

Lomi

Nothing warms up the belly like a hot bowl of Lomi. Lomi is a kind of Filipino soup that shares its origins in Batangas. It is best known for its thick and rich broth that goes hand in hand with egg-based noodles and other savory toppings such as chicharon or liver pieces. Other provinces have made their own versions, but either way, it’s a must-have for the cold weather!

Arroz Caldo

You can never go wrong with ordering Arroz Caldo any day. It means warm rice in Spanish and is a bright yellow congee flavored by ginger and chicken stock. Arroz Caldo has shredded chicken meat that will surely fill up your tummy with delight compared to plain porridge. Garnish it with toasted garlic for an extra crunch or pair it with fried tokwa for a complete meal!

Sopas

Sopas is one of those meals that you can get whether you’re sick, craving, or just hungry. Originating from the Spanish term sopa, our rendition of chicken noodle soup uses elbow macaroni swamped in a creamy, broth-infused soup. Its main ingredients are usually choice vegetables and shredded chicken breast. Some would also use hotdog slices or corned beef as their choice of meat.

Ginataang Bilo-Bilo

Sweet and creamy bilo-bilo is the perfect dessert, especially on sweater weather. Inspired by the Chinese treat Tang Yuan, this snack is mainly composed of glutinous rice balls and sago pearls swimming in warm, coconut-flavored soup. You can also add taro, sweet potatoes, jackfruit slices, and saba to spruce up your bowl!

Nilaga

You can’t mention comfort food without Nilaga in mind! Probably the best companion for the rainy days ahead, this is a simple beef stew that uses choice cuts of beef and crisp veggies with some spices thrown in for a hearty meal. It is also commonly paired with fish sauce for dipping to balance out the flavor.

There’s still more meals that we can cover, but these dishes are by far some of the people’s top choices for the rainy weather.

Is your comfort food on the list? Share us what your top rainy-day meals are down in the comments!