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The most annoying vehicles on the road for other drivers?

the most annoying vehicles on the road - car insurance

So you’re a safe driver, you take a defensive, calm and controlled approach when driving, you get your car checked every year for problems and you have comprehensive car insurance just in case you get into an accident. Yet every time you go out for a drive you are bombarded with reckless and annoying drivers all around you that make you feel like no matter what you do, you will still have to deal with annoying vehicles and drivers. Let’s take a look at some of the culprits that make so many Filipinos drivers annoyed each day on their way too work.

 

The Bus – Go to many other countries and buses are extra well behaved on the road. But here in the Philippines these guys have mastered the skill of annoying other drivers on the road with their constant lane changing without care or concern to vehicles and motorists around them. Driving behind a bus often means trying to see through a black cloud of smog every time they speed off and it can make your head spin as you watch them swerve sideways back and forth across several lanes almost causing a pile up just so they can beat the rival bus next to them to pick up passengers. When you’re the size of a house and you could cause complete destruction to smaller vehicles around you, why bother signalling and letting other vehicles pass before you start turning? Buses deem the most effective way of changing lanes is to just do it! Drivers who frequent EDSA and other major roads around Manila will be used to the scenario of watching their side windows suddenly fill up with the view of nothing but bus, inches away from you as they have decided it’s time to turn and you need to get out of the way. You could of course hold your ground and not budge, knowing the bus is suppose to wait for you to pass before they turn but most drivers around the city know it’s best to just get out of the way or run the risk of being side swiped. A more intensive training and licensing for bus drivers is something most of are hoping for in the future.

 

The Taxi – Taxi drivers are fearless on the road and their long hours (often 24 hours of continuous driving) and high expenses means they’re often in a rush and in a bad mood, making the perfect recipe for an overly aggressive driver. Taxis will cut you up before you even saw them, they’re fast and nimble and seem to be able to fit into gaps that you thought didn’t even exist. This of course means you’re often left waiting while all the taxis ninja around you into any potential spaces you thought about moving into.  When you see a gap or an opportunity to gain a few hundred meters of ground through the heavy traffic, you can pretty much always guarantee a taxi will beat you to it.

 

Trucks – Much like the bus, they seem to forget how big they are and how much damage they could cause to the surrounding vehicles if something went wrong. Also for some reason trucks are usually the vehicles that block junctions. When the road to your side is filling up and your thinking it’s going to be your turn now to pass through the junction, forget it, the truck thought it would be a good idea to keep driving and sit in the middle of the junction waiting several minutes for the traffic ahead of them to clear while blocking all other vehicles and roads from passing.

 

Remember when driving, if you find yourself becoming flustered or hot headed because of the constant threats to your safety and sanity caused by reckless drivers it bests to pull over at a gas station or somewhere safe and just freshen up for a few minutes. Drive safe everyone.

 

Cheap Car Insurance Tips For Lower Quotes

tips for filipinos for cheap car insurance quotes

Ever wonder how you can lower you car insurance payments without removing useful features from your policy? Here we explore some common tips to help you get the best quotes from car insurance companies.

Driving is a privilege and it feels great to get behind the wheel of your own car and have so much freedom to go where ever you want. The downside of cars is the cost. The car itself, the gas and car insurance can be a heavy burden on your wallet. Here are some tips from Money Monster on how to get cheap auto insurance in the Philippines.

Trim down your coverage for cheaper premiums

When you’re looking for cheap car insurance quotes one of the easiest ways to lower your premiums is to decrease the level of coverage you have. Fully comprehensive car insurance offers the most coverage but is also the most expensive. It’s great having lots of free perks such as 24/7 road side assistance and complete protection for your car against accidents, fire and theft or getting a free rental car if your main vehicle is in a repair shop. But remember, each extra piece of cover will add pesos to your total premium each month. To help lower your monthly payments try losing some of the items in your policy. You can consider removing cover against minor damages and injuries, If you don’t need free medical care, remove that from your policy. If you don’t need an allowance for transport when your car is in for a check up, remove that too. The more you remove from your car insurance policy, the cheaper your monthly premiums will be but think carefully before doing so as you might regret it if you actually get into an accident.

No claims discounts on your car insurance

Insurers really love drivers who never crash as this makes you a much less risky policy holder in their eyes. Many Insurance companies will reward you for each year you don’t make any claims, known as a no-claims discount (NCD), they doing this by giving you up to 10% discount on your premiums each year. It really does pay to drive safely, after 3 years of making no-claims, you could be enjoying up to 50% discount on your insurance quote. This can add up to big savings each year!

Insurance policy excess payments

Choosing a higher excess payment level could really help you find cheaper car insurance. Excess payments are what you will pay the insurer if you get into a car accident. For example if you crash and the damages to your vehicle are 100,000 pesos and your excess is 20,000 pesos, this means you will pay the insurance company 20,000 pesos and they will pay the remaining balance to have your car repaired.  On the other hand if you get into a minor fender bender and the damages to your vehicle are just 15,000 pesos this means you will pay the full amount as it is below your excess payment of 20,000. If you rarely get into accidents and you’re a good driver then setting a higher excess payment level will help lower your car insurance quote, meaning you pay smaller premiums each month.

With the above points in mind, using our money monster car insurance comparison tool will help you find and compare the cheapest car policy quotes available for you.

What is the best credit card for me?

best credit card for you

Because we all have different spending habits and finances there is no single best credit card in the Philippines.  Instead each person has their own unique most suitable credit card based on their spending habits, wants and financial capability. This means the best credit card for you might not be suitable at all for your friend.

Before you apply for a credit card it’s important you consider how you plan to use it. Will you be using your card for all of your everyday needs or just the occasional bill payment? Do you plan on paying your credit card bill in full each month or do you want to make a minimum payment and pay off the debt slowly? Maybe you have an existing card with outstanding debt and you’re looking for a low interest balance transfer credit card in order to keep your interest payments down. Whatever situation you’re in it’s important you choose the card that fits your situation so that you can enjoy all the benefits and rewards a credit card has to offer. Used correctly a credit card is a great financial tool but used incorrectly and it can become a burden on your finances. Here’s some basic information from the money monster team that you should consider before you compare credit cards.

Credit cards - They allow you to make purchases in most stores without any money and interest free for a given period of time. Every month all of your purchases for the previous month are totalled up and the bank sends you a credit card statement showing you how much you spent last month, what’s the total amount you owe, when payment is due and what’s the minimum payment you can make.

For example let’s say you use your credit card twice in January and spend

500 pesos on January  1

2000 pesos on January 20.

On around February 1 your bank will total up how much you spent in January, which in this example is 2500 pesos and send you a credit card statement in the post or by email stating your total amount due is 2500 pesos, the due date for payment is February 15 and the minimum payment is 300 pesos. If you pay your total amount owed of 2500 pesos it means you will NOT incur any interest and would have therefore enjoy 0% interest credit for more than 1 month. However, if you choose to make minimum payment of 300 pesos this means you still owe the bank 2200 pesos. This outstanding balance will now begin to accumulate interest charges. You should further note that if you miss the payment date of Feb 15 you will also be charged a late payment fee usually of around 500 pesos.

Cashback/rewards Credit cards

If you’re one of those people who likes paying off debts in full as quickly as possible e.g  paying your credit card bill in full every single month then interest rates might not be so important to you. Instead you might want to focus on cashback credit cards with rewards. For example the Citibank cash back credit card offers a huge 6% cashback when you spend more than 10,000 pesos per month using your card and an additional 2% for your meralco bills.

If you spend a lot of money on gas every month you might want to consider a fuel rebate credit card so that you can earn up to 7% rebates every time you fill up your tank and paying using your credit card. For example with the Eastwest Bank LausAutogroup Visa you get 7% rebate on your gas purchases from any station and an additional 10% discount on parts and labour from any LausAutoGroup dealership.

So when you compare credit cards make sure you think about your lifestyle and how you prefer to de rewarded….. cashback, fuel rebates, airmiles, rewards and free gift certificates for groceries etc.

No Foreign transaction fee credit cards

Ok so this one is especially useful for Filipinos who love to shop online in America. Every time you purchase something from your favorite online shop in the US using your Philippines credit card, you get charged a foreign transaction fee which can be as much 5%. Often people don’t even know they are being charged this fee as it’s usually hidden in the exchange rate when you receive your credit card statement. Thankfully there are cards on the market that have a ZERO foreign transaction fee meaning when you online in America it’s just like your shopping in the Philippines and with some cards you can even receive your foreign purchases in a separate US Dollar bill so that you can pay separately with Dollars. One of the best cards for shopping overseas is the RCBC Bankard Visa Infinite credit card.

 

0% balance transfer credit cards

If you already have a credit card with an outstanding balance with a higher interest rate you might want to consider transferring your balance to a new credit card. This is called a balance transfer and can save you a LOT of money when done correctly. In the Philippines 0% is very rare but one of the best low balance transfer cards is the BPI Ayala Malls Amore Visa . It’s simple and fast to transfer your balance to a new card and you will enjoy interest rates as low 0.59% for up to 2 years instead of the usual 3%, this can amount to huge savings every month and will help reduce the stress of too much debt.

Before you apply for a credit card online make sure you consider all of the above points and choose a card that suits you.

Best Philippine credit cards for shopping online in the US

credit cards

A lot of us Filipinos enjoy shopping online in America because of the cheaper prices and huge selection (druel worthy huge) of products that are available, many of which you can’t buy in the Philippines or cost substantially more here. You can safely shop online using your Philippine credit cards on American websites or online stores and have your items quickly shipped to your air freight forwarder and be enjoying your purchases within just 1 week. Using your credit card to make payment also means you protect yourself against fraudulent websites or sellers as your credit card issuer can do a chargeback to recover the funds, all good so far.

Overseas spending credit cards

What some people don’t realize however when they’re shopping online in America they are being charged an overseas transaction fee even if they’re in the Philippines. These fees are usually not mentioned, hidden or disguised as an exchange rate but if you examine your credit card billing statement you will notice the rate is usually between 2-5% in the banks favour as this is where the banks hide their fees. This means you have paid up to 5% to use your credit card overseas and you might not have even realized it.

Best credit cards for overseas shopping

The best credit cards in the Philippines for overseas shopping are from Security Bank, RCBC, BPI & Maybank. These banks have cards that offer the lowest overseas transactions fees ranging from 0% to 1%. Remember though when picking a credit card also consider the monthly interest rate, annual membership fee, chargeback protection policy and what rewards and perks they give to their cardholders.  Also consider your financial situation, if you think you won’t be able to pay your credit card bill in full on the due date then this means you will be charged interest on the outstanding balance (unpaid) and it would wise to choose a card that has both a low overseas transaction fee and a low interest rate on purchases.

To find the best overseas spending credit cards simply use our compare credit cards tool.

Filipinos entrepreneurs who made it without a college degree

entreprenuers who made it without a degree

Education is important if at all you want to succeed or make something out of this life but there are some Filipino entrepreneurs who have managed to make it without a college degree and this was through hard work and really believing in themselves. The only drive that one should possess in the event that they set out to do something is that they can make it no matter what. These particular Filipino entrepreneurs believed that, which is why they actually made it. They are;

Alfredo Yao

He is the President of Zest-O Corporation. Alfredo Yao came from a poor family and he became rich due to hard work and determination. He did not finish his education but this did not deter him from not making it despite that. He eventually made his Company become one of the leading juice manufacturers in the country together with China, New Zealand, Singapore and many others.

Socorro C. Ramos

Ms. Socorro C. Ramos started working as a sales girl when she was only eighteen years old in Goodwill Bookstore in Escolta. She became good in sales and was later promoted to be in charge of the store and this went on to sharpen her skills in regards to administration and selling. When she got married, she and the husband started their own bookstore called National Book Store which provided cheaper access to books and school supplies in Luzon area, Visayas and Mindanao. This later culminated into a nationwide book store that sold books, greeting cards and school supplies.

Lucio Tan

His story is probably one of the most famous and is a classic rags to riches tale. This is because he made it by believing in himself and had pure determination to succeed. He now owns Philippine Airlines, Allied Bank, Asia Brewery, Fortune Tobacco and many others major corporations in the Philippines.