Monday, September 29, 2014

Accounting and Taxation for Non-accountants Seminar on October 11, 2014

SEMINAR: ACCOUNTING AND TAXATION FOR NON-ACCOUNTANTS
on October 11, 2014

You are all invited  to the upcoming seminar on October 11, 2014 at 2nd Fl Insular Life Bldg. Ayala Ave., Cor. Paseo de Roxas, Makati City, 1 to 3pm. 

FREE accounting and taxation seminar - Are you in the process of establishing your own business or already have a business but don't know how to account for your finances?

As part of our advocacy, we at financePH would like to help you. We will be conducting a seminar on October 11, 2014 entitled "Accounting and Taxation for Non Accountants". Learn the basics and make a difference in your business and personal life. Register Now! Event is for FREE. Fees only apply if you request for handouts and practice sets.

To register, please send the following details to Ms. Mica Austria via text (0927-289-3017) or email (magandangarawinsular@gmail.com):
> Full Name
> Occupation
> Email Address

Saturday, September 20, 2014

6 Simple Things You Can Do Now To Prevent Future Insurance Problems



Although, insurance problems do not usually occur since the government really takes care of insurance policy holders through the insurance commission, here are some simple things you can do now so that you will receive all insurance claims faster than the average time it takes.

1. When signing application forms, be sure to read the contract you are signing and ask for questions on matters that you do not clearly understand.

Logic Behind: As with any contract, it is always fundamental to read the provisions of the contract. This will be a way to review the verbal agreements which are now in writing.

2. After your application has been approved a policy contract in a folder is usually issued. Always ask the agent to read important details in the contract before accepting the policy.

Logic Behind: Believe it or not, your policy contract may not be the one you expected it to be. Always ask the agent to read important details before accepting the policy contract. It is the policy holder's right to refuse to accept the policy contract should there be important provisions that were not discussed or were inappropriately discussed. Also when you arrive at home, try to scan over the policy contract and if there are questions or misrepresentations contact your agent or company immediately.

3. When paying for premiums through an agent ALWAYS ask for a probationary receipt and eventually ask for the official receipt.

Logic behind: Probationary Receipts are controlled by the Insurance 
Companies. They have unique codes. All probationary receipts are requested to be returned before the expiration date. The probationary receipts are then checked individually whether they have been issued a corresponding Official Receipt. All probationary receipts as the term implies are temporary and thus must be replaced by an Original and Official Receipt indicating that the money has been received by the company's cashiers.

4. Keep your latest receipts together with your policies.

Logic Behind: Keeping your latest receipts together with your policies provides support that your policy is not delinquent and thus subject to all the rights stated in the contract.

5. Pay your premiums on time.

Logic Behind: Being delinquent in paying your premiums will make the policy lapse and thus depending on the contract, reduce or totally remove the benefits stated in the contract. If you are unable to pay for the next premium due to a financial problem, make sure you contract your insurance agent because he would be more than willing to help you find ways to help you pay your premiums (like taking out a policy loan, withdrawing funds from your VUL policy).

6. Keep yourself updated.

Logic Behind: Always keep yourself updated on the company as well as on their latest products. Always check whether your protection and insurance needs have changed because of a major event such as marriage, having another child, retirement, etc. This way you could be able to detect impending risks as well as opportunities.


A friendly reminder from Mark.

How Me And My Family Got Out Of Poverty

How Me And My Family Got Out Of Poverty
by Mark Joseph T. Fernandez, CPA, RFC, MDRT

Most of you guys do not know me and how I started in life. Most people only see the final product of me but never get to see how I started.

In this article I would like to share to you the 5 factors that amplify poverty. But before that, I would like to share to you how my family got out of poverty and how I also got out of poverty when I was starting my career. Hope you like my blog today:

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I wouldn't say that I come from a very poor family but I would say that I come from a humble family where my father is a farmer and my mother is a sari-sari store owner in mountains of Tanjay City, Negros Oriental. My place Pal-ew city is around 15 kilometers away from the city. That is where my mother and my father stays while me and my siblings lived in Dumaguete City to study. It was hard to be a way from your parents while growing up. (we can talk about this emotional part of my life in a later blog... hehehe) But thankfully I was able to survive it without any addiction to drugs or any alcohol or smoking problems with the help of God and my churchmates. (Thank God for my loving and praying church mates)

I have seen how my mother and father raised us up. I saw them move from struggling farmers to successful business owners.

I was randomly scrolling the internet today and came across the 5 factors of poverty and this somehow sparked my interest in relation to how me and my family overcame poverty.



When I look at the illustration above, I see how God has been very good to my life and to my family's life. God has spared us from the 5 factors of poverty which are:

1. Disease - my father and one of my sister was asthmatic. My lola was diabetic (I love you lola, I know you are in heaven now) yet we never really had much expenses for medical bills as a family. Most people spend most of their savings for medical expenses but not our family. (Thank you Lord!)

At a very young age we were taught by our parents to eat fish and vegetables. We grow our own malungay in our yard so we typically ate malungay almost everyday when I was young since it was free. (We ate so much malungay that I thought my skin was turning green. Lol.)

Well we didn't have money to spend for expensive food such as red meat so it somehow allowed us to stay away from red meat (Thank God!). Also at a very young age, my mom told me to stay away from junk foods and sweet food and drinks like soft drinks and chocolates. That is why up until this age, I usually do not eat junk foods and sweet food and drinks (well probably I do pero konti lang).

Because of this perspective of actively monitoring what we eat. Every one in the family is lean and healthy. Furthermore since my parents are farmers, they get to exercise each and every part of their body everyday as part of their job as farmers. Thank God for free exercise :) !

2. Apathy - growing up, I saw the value of hard work from my parents and my grand parents. My grand parents and parents in my opinion are the most hard working people that I have ever known in my life! Although my parents never really dreamed to be super wealthy, their training from their parents on the value of hard work has caused them to work hard and eventually improve their lives. My grand parents always wanted to improve themselves and they never believed that their life is all that can be although my grand parents were also farmers.

Growing up, the value of hard work that I saw from my parents and my grand parents had been transferred to me as well. That is why even in (sometimes) Saturdays I still work. For me my work is a hobby and a fun thing to do so it didn't really matter if I work on Saturdays. :)

3. Dependency - growing up, I learned to be independent. Although when I was young, there were days in my life when I would just engross myself in a pity talk. I would sleep in my bed complaining and comparing myself with the other kids on how unlucky I am not to have parents to talk to and share my life with while I was growing up, but as I grew older, I realized that my parents had to be away because they want to provide for us and help us go to a good school.

On my own, I tried my best to go to good schools by going to Dumaguete Regional Science High School on my own after I graduated elementary. My parents only knew that I was going to study in Dumaguete Science High School only a few days after I have already applied for it. (You should have seen my parents faces when they knew about it)

Although I wasn't a perfect teenager during highschool and we sometimes get to skip classes, I always monitored my grades to ensure that I get to stay in one of the best public high schools in our place.

True enough because of my independent nature and personality when I graduated highschool, I applied as a working student in our library to be able to pay part of my college tuition fees for one of the best private universities in our place - Silliman University. Also, I had to try and maintain my grades while being a working student since our school gives cash incentives to academic honors. This further reduced my college tuition expenses.

Even as I passed the CPA board in October of 2009, I continued to pursue my independent nature and worked in Manila despite the fact that I never knew anyone in Manila. A little sacrifice for a greener pasture. I started working as an auditor before I finally decided to go full time as financial advisor. At that time my father completely disliked my job as a financial advisor because we do not receive fixed salaries.

But when he found out that I get to go to many different countries (including a 10 year US VISA approval) at a very young age, he eventually learned to like my job and the perks it provides! (Been to SG, SHANGHAI, KL, UAE, TAIPEI, SEOUL, US already and I'm still 25. Next year we will be going to PARIS, THAILAND and HK). So my father eventually became proud of me after years of being so negative about my job. Hehehe (Thank you Lord!)

4. Ignorance - At a very young age I was book lover. I don't know why but I loved reading and learning and I always had this curiosity to learn. I can remember when I was in elementary I traded with my elementary classmate my toys for encyclopedias and science books (I wonder what happened to him when his parents learned that he's trading family books for toys. haha). But I wasn't a geek though. I always had a curious personality since I came from the mountains and most of the things that we see in the mountains I don't get to see in the city. (can you see cows in the city? I bet not!)

Up until now, I still value continuous learning. I believe that learning doesn't just stop in school and that learning is a daily process. We should never let the day end without learning something new. This is actually one of my secrets to becoming one of the youngest top financial advisors and being part of the MDRT an association of the top 5% of financial advisors all over the world!

5.  Dishonesty - Well I wouldn't lift my own chair (magbuhat ng sarling upuan) just to say that I am an honest person. I would just suggest you get to know me and what most of my friends say about me. Hehe...

But I know in my heart at least that I try to be an honest person (or I always strive to be everyday with the grace of God) and my closest friends would probably agree to that. :)

Being dishonest causes you to lose reputation over your friends, family and your clients. To be successful we should increase our influence and reputation and being dishonest destroys it. I strongly believe that our net worth is directly proportional to our integrity. 

A lower integrity and self worth results to low net worth. How you value yourself and how you treat yourself and how you allow yourself to be treated by others largely depends on you. Value yourself!


Looking back, God has been so good to me and my family. Sometimes poverty can indeed be a blessing for it forces you to strive hard and work harder. I thank God that we were spared from diseases, apathy, dependency, ignorance and dishonesty. Thank you Lord :)

How about you guys? Share to me your life experiences as well in relation to the 5 factors of poverty. Comment below :)

Mark
"Reach for your dreams. But never forget where you came from."

P.S. Do you enjoy talking to other people and someday meet people bigger than yourselves such as CEOs, National Politicians and even celebrities? Do you like to educate people on savings and investments? Why don't you give it a try and be a part time or full time financial advisor? (Please visit www.financephcareers.com for more info)