Budgeting is the process of determining how you will spend your money. It entails keeping track of your costs and income, developing a budget, and sticking to it. Budgeting has become an essential tool for managing money and planning for the future, with so many people suffering financial insecurity.

The pandemic has forced many to work from home. SMEs may be considering downsizing office space or giving it up altogether as they embrace a more remote style of working. For property owners renting or leasing office space, they will be adjusting their projected rental revenues for the coming year or two.

Many employees were furloughed or took a pay reduction as business stalled. The Salary Planning Survey for 2020/2021 revealed that 62% of workers had a pay increase just before the pandemic. However, the effect of the COVID-19 pandemic in Q1 of 2020 compelled many to cut down their salary budget. Pay raises turned to pay cut in no time. In other cases, workers were laid off. 

As businesses open up and adjust to doing business in the new climate, they may find they need to rehire employees or hire and train new ones. In this case, not only will there be adjustments to salaries and wages, but there may be increased training costs as employers are having to train staff on new systems to support remote work or new business strategies.

https://sbpartners.ca/

Many people have had to reconsider their financial plans as a result of the epidemic. Budgeting has become more important than ever, with job loss, lower income, and increasing expenses owing to healthcare bills or distant study. People are being forced to cut back on frivolous spending and prioritize necessities such as food, shelter, and healthcare.

The transition to remote work is one of the most significant shifts brought about by the epidemic. Many people have switched to working from home, resulting in changes to their daily routines and spending habits. People are saving money on petrol, public transit, and clothing since they no longer need to commute or dress for work. However, remote work incurs extra costs, such as home office equipment and higher energy expenditures.

Another effect of the epidemic is the move to internet buying. People are flocking to internet shopping for everything from groceries to home items as numerous businesses close. While internet shopping is handy, it may also result in overspending and impulse purchases, making budgeting more important than ever.

The pandemic has also brought to light the significance of emergency savings. With so much unpredictability, having a savings buffer might assist ease financial stress during a crisis. Budgeting can assist you in developing a strategy for accumulating emergency funds and prioritizing costs in the event of job loss or other unforeseen circumstances.

It’s not too late to create a new budget based on the new circumstances that the COVID-19 pandemic has caused. The budget needs to reflect the new cash flow and account for what is being lost due to limitations on business operations. Create realistic expectations of your business gains. 

During natural disasters, you will have to adjust your budget and be ready to but business spending. You can anticipate losses with your budget so that you only have to cut non-essential items.

Here is a list of what you can adjust: 

Cut Spending on Supplies (Office and Business Related)

Evaluate What Monthly Services are Vital

Evaluate What Projects Need to be Pushed Out or Postponed

Reduce Spending on Utilities 

https://www.sbdc.uh.edu/

To summarize, the COVID-19 epidemic has caused enormous changes in people’s lives, particularly their financial situations. As consumers confront job loss, lower income, and higher bills, budgeting has become more important than ever. People may better manage their money, prioritize their spending, and plan for the future by developing and keeping to a budget.

I’d like to share an online tool that I discovered to assist you in calculating financial problems such as loan amortization, mortgage calculator, and savings calculator. Calculator.me is superior for financial computations in my opinion because it is particularly created for that purpose.

Let us all be optimistic that whatever financial difficulties or adjustments we have as a result of the epidemic, we will be able to overcome them. Simply don’t give up!

The post Budgeting and life adjustments following the COVID-19 appeared first on MYJUICYNET.

Getting your carts ready for the nationwide 9.9 sale? You can get a BIT more for your 9.9 shopping when you pay with Maya via Number, Card, or QR! 

 This 9.9, all-in-one money app Maya gives customers double the rewards when shopping for the best discounts and deals. Just pay with Maya at any Maya partner stores around the country and online to get free Bitcoin plus the chance to win PHP 1,000,000.00 worth of the popular cryptocurrency! You can enjoy this reward on top of the already sulit deals from your favorite stores. 

 Each eligible Maya transaction can give you free Bitcoin worth 1%, 10%, or 100% of your purchase (capped at PHP 500.00 monthly). For example, a PHP 500.00 purchase can guarantee either PHP 5.00, PHP 50.00, or PHP 500.00 worth of Bitcoin, which you can check in your crypto wallets after receiving an SMS notification. 

 On top of the free Bitcoin, each qualified and verified Maya payment will be equivalent to one raffle entry for a chance to win the coveted PHP 1,000.000.00 bitcoin prize. This first-of-its-kind promo will run until September 30, 2022. 

 Paying with Maya for your 9.9 hauls online or in-stores is super easy. Here are four ways you can pay to enjoy free Bitcoin!

• For your online shopping at Lazada, Shopee, Zalora, Amazon, Agoda, Grab, FoodPanda, or any merchant that accepts Visa or Mastercard, just pay using your Maya virtual card! You’ll find this when you click the ‘cards’ button on your app. 

• You can also use your Maya mobile number to pay for your online purchases at the Tiktok Shop, Lalamove, Philippine Airlines, Cebu Pacific, McDelivery, Jollibee app, Codashop, Midasbuy, and many more! Just proceed with these apps and websites, and complete your transactions by logging in to your Maya account for payment!

• For in-store transactions, just scan-to-pay via Maya QR at stores like McDonald’s, Jollibee, SM Store, Starbucks, Watsons, Shell, Petron, and many more!

• You can also use your Maya physical card to pay at SM, Ayala Malls, Robinson’s, Nike, H&M, Uniqlo, Waltermart, or wherever Visa or Mastercard are accepted! You can even pay using this card abroad!

“9.9 is a happy day for shoppers, and Maya’s Bitcoin promo can make it even more rewarding for them. With free Bitcoin on top of multiple 9.9 deals from various brands, paying with Maya might just be the smartest way to spend this 9.9,” said Pepe Torres, Maya Chief Marketing Officer. 

“We want more Filipinos to experience the best of crypto through our seamless all-in-one money experience. On top of the rewards, it’s also the easiest and most risk-free way to experience crypto – so pay with Maya now!” he added. 

Cryptocurrencies are decentralized digital currencies that one can use to make transactions online. Crypto holders often wait for the value to increase and then sell them for a profit. 

 Maya is a licensed Virtual Asset Services Provider (VASP) authorized by the Bangko Sentral ng Pilipinas (BSP) to engage in the exchange of cryptocurrency and other virtual assets. 

 The Maya Crypto feature lets users buy, hold, and sell cryptocurrencies for as low as PHP 1.00, making it ideal for crypto novices and enthusiasts. Those who earn from crypto can reap the additional funds to pay bills, buy load, shop for groceries, or even save on their Maya Savings feature, which can grow even further by up to 6%. 

 Maya is the all-in-one money app bringing Filipinos bolder ways to master their money. It empowers users to manage all their finances in one app. Completely free to download and register, it packs a feature-rich e-wallet, an inclusive digital bank, and everything else you need to save, spend, grow, and manage your money—right from your smartphone. 

Maya is powered by the country’s only end-to-end digital payments company, PayMaya Philippines, and Maya Bank for digital banking services. To know more about Maya, visit maya.ph or follow @mayaiseverything on Facebook, IG, Tiktok, and YouTube and @mayaofficialph on Twitter. Join our Telegram community at https://t.me/TeamMayaPH

The post Double up your shopping deals this 9.9 with Maya’s unique free Bitcoin promo appeared first on MYJUICYNET.

photo from pixabay

I remember how our family had our fair share of times of “Petsa De Peligro.” I must admit these were one of the toughest moments our family has had to go through. And during that time it pained me more since I was like in my elementary days, I was young and wanted to help. I did understand the struggles that my parents were facing at that time. I needed to take an absence from school to skip the exams because of unpaid tuition.

My parents know they had to do something with our situation during that time. The last resort they have decided is to pawn a necklace my dad’s gift to my mom. I can still remember it clearly because my mom took me with her to the pawnshop since there was no one to be with me at home.

At that time I was clueless about everything happening, but now I am old enough to understand about pawning, and how pawning saved us, saved me to take those special exams I missed in the first place. This was not the proudest moment to share but also not to be ashamed of, because these hardships we encountered in the past will help us succeed in the future. And I wanna share this experience also to help the ones who are on the same page or that can relate. Especially in this time of pandemic, I think Panwning is really viable.

Anne With an E pawning episode – photo from Your Props

Also, I just finished watching the Netflix series “Anne with an E,” (I know I’m a late watcher) and there was this episode where Marilla had to pawn her family heirloom jewelry to save their farm and to provide for Anne. I really liked the series and was enticed more to write this article about pawning.

Personally I think it’s better to pawn than to loan. A pawn loan is less of a risk for the pawnbroker, because they aren’t as concerned about reselling the piece. If you have a valuable you don’t mind parting with and you don’t want to have to worry about paying back a loan, then it may be easier for you to just sell. You will have the extra cash you need on the spot. Unlike a personal loan, a pawn loan can be a quick way to borrow money because it doesn’t involve a credit check or application process. Your loan amount is based on the value of the item you pawn.

Since I came up with this article, I did some personal research about pawning here in the Philippines, and I wanna share the knowledge about how you can pawn the best way possible.

Not All Pawnshops are equal

The first thing you and the most important thing you need to check when you pawn is the appraisal rate, because this will determine how much you can get from the item you are pawning. Based on my research, Cebuana Lhuilier has the highest appraisal rate, offering a 30% higher appraisal rate VS other pawnshops.

Highest pawnshop appraisal in the Philippines

Cebuana Lhuilier appraisal rate

I stumbled-upon this article that supports my research, in this article, (https://www.mommypeach.com/2018/06/pawnshop-with-highest-appraisal-guilt-free-pawning/) a group of girl friends decided to pawn a necklace to help their friend for school supplies, they went to different pawnshops but ended to pawn at Cebuana Luilier since they compared with Pawnshop A,B,C but with Cebuana they actually got P3000 difference! For me this is really the deal breaker, due to the high appraisal rate you are given, this translated to bigger take-home cash, assuring you of more liquid funds you can use for your needs.

I even asked some of my friends who have had their experience on pawning with Cebuana, they said appraising is very thorough but careful not to damage the jewelry they pawned.

I hope this sharing of my experience and some tips would be a help to those considering pawning. For those having second thoughts, there’s nothing wrong about pawning and there’s nothing to be ashamed of, especially if your goal is to help your loved ones, it is really a viable option when in need, hence now we’re in this pandemic. 

The post Remembering how Pawning saved us, why is it viable this Pandemic? appeared first on MYJUICYNET.

A new phone, a much-needed family vacation, a seed fund for a side hustle, a down payment for a starter condo unit —these life goals are more achievable with the help of savvy money moves, thanks to Maya, the country’s all-in-one money app, powered by Maya Bank. 

Maya recently launched Personal Goals, the newest digital banking feature that empowers users to save for different life goals while earning 6% per annum, one of the highest interest rates in the market. 

Under Maya Savings, you can easily set up to five active goals at a time and put a target amount and deadline of up to six months. The best part is that you can get a 6% interest rate on your Personal Goals savings for up to P1 million, per goal.  

“Achieving goals, even small ones, feels great. Maya Personal Goals can help Filipinos set their own goals, track their progress, and celebrate milestones. It’s a great way to help our users master their money and make the savings experience more delightful,” said Angelo Madrid, Maya Bank President.  

Getting started with your Personal Goals is easy:  

1. Go to Savings on your Maya app and tap “Create a Personal Goal” 
2. Select the mood that best fits your particular goal.   
3. Enter the goal name, due date, and goal amount, and hit Continue.   
4. Check your goal details, tap Confirm, and key in the one-time password (OTP).  
5. Deposit money to start your saving goals and enjoy a 6% interest rate along the way!  

Putting money to your Maya Savings is easy. Customers can deposit via Pesonet to their Maya Savings and Personal Goals accounts. They can also quickly cash in to their Maya wallet for free at over 90,000 touchpoints nationwide and transfer the fund to their savings accounts at no cost. Maya’s free cash in touchpoints include all Maya Centers, BPI and Unionbank online, Ministop, Robinsons Supermarket, Shopwise, Palawan Pawnshop, and more.  

The Maya app, formerly PayMaya, was launched over two months ago and continues to be the top-rated finance app in both Google Play and App Store. Completely free to download, it seamlessly integrates digital banking services powered by Maya Bank, such as savings and credit, with its feature-rich e-wallet with features like cryptocurrency, micro-investments, and insurance. Maya customers also get their own virtual Visa card in-app and link up to three physical Visa and Mastercard prepaid cards. 

Maya is powered by the country’s leading digital payments company, PayMaya Philippines, and Maya Bank, one of only six digital banks licensed by the BSP. As the only all-in-one money app in the Philippines, Maya leads millions of Filipinos — consumers, businesses, communities, and government agencies alike — into a digital economy that’s more inclusive, transparent, and empowering. Visit www.maya.ph and www.mayabank.ph for more information.  

The post Reach your personal goals with Maya’s new savings feature powered by Maya Bank! appeared first on MYJUICYNET.

MPI’s senior officers, led by Choong Wai Hong with its partners during the media launch of Maybank Move. (From L-R) Dexter Go; James Perez, Idea Lab Information Tech. Solutions General Manager; Guillaume Danielou, Fintq Digital Transformation Leader; Choong Wai Hong; Christie Dana Tan and Monica San Juan of AirAsia BIG Loyalty; Abigail Del Rosario, Maybank Retail Business Group Head and Bernardo Talimban, Jr., Maybank Chief Information Technology Officer.

Maybank Move media launch at the Maybank Corporate Office in BGC.

The post Maybank M.O.V.E paves way in offering refined digital conveniences appeared first on MYJUICYNET.

The post Changing mindsets: Millennials as successful insurance financial advisors appeared first on MYJUICYNET.

The post Sun Life celebrates Financial Independence Month; Introduces Bus to the future and Money E-Planner appeared first on MYJUICYNET.