MoneyGuru Blog by Loansolutions.ph | Philippines Financial Blog
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Summer classes come with different vibes compared with the days of a normal school year. Aside from the warmer weather, you also need to deal with a more limited timetable to meet all your academic requirements. Thus, if you’re a medical student and you want to thrive in your new summer routine, it’s critical that you create a strategy that will help you survive the summer semester. And below are ways you can do that and more.
Having goals can help you cope with your summer classes better. A study even observed that medical students who first reflected on their goals while preparing for an exam tend to get higher marks than those who didn’t. Thus, if you want to survive this summer semester, you need to set some goals.
Medical student or no, you need good note-taking skills if you want to succeed in your academic career. Not only does doing so help you keep track of all the information you’re covering each lesson, but it will also enable you to retain that information better. Note-taking is particularly important during the summer semester, since classes for that period operate on a more compressed schedule.
Sync Your Calendar
Aside from being on a compressed schedule, summer classes also operate on a more accelerated pace. Thus, you need to sync your school calendar accordingly if you want to survive and thrive in the summer semester. That means reading your syllabus carefully, marking test dates and major deadlines, and including work shifts in a clinic, extracurricular activities and fun stuff (if any).
Form or Join a Study Group
Go alone if you want to go fast, but go together if you want to go far. This saying applies to life in general, but it can also be applied in medical school. By forming or joining a study group during the summer semester, you’ll increase your chances of surviving your classes. Plus, the summer semester is a great time to make new friends, since there would be fewer people in the campus.
Take a Break
Taking a break is just as important as studying hard during the summer semester. Not only does it help you relax and relieve stress after a hard day’s work, but it can also help you become more productive and motivated afterward. Plus, it helps you minimize FOMO or the fear of missing out of your friends’ fun.
Slay Your Studies
Being a medical student is challenging, especially if you’re finishing internship at a medical startup or you need to catch up your academics during the summer. By following the pointers listed above, though, you’ll be able to slay your studies even during the hot season.
Despite the countless scientific breakthroughs we’ve made through the years, we humans still have a lot to learn about our universe and in or bodies. This is especially true in regards to the latter; to this day, doctors still encounter various weird medical cases that would leave normal people like us either squirming or wowing. Read on if you want to know some of these cases.
Fishbone in Eyeball
Getting a fishbone stuck in your eye is one definite way to ruin your day at the beach. And that’s exactly what happened to a 52-year-old tourist visiting the Red Sea in 2015. The guy was swimming in the sea when he collided with a school of fish, developing a swollen and droopy eyelid not long after. During the subsequent corrective surgery, the doctor also removed “two tubular structures” from the man’s eye, which turned out to be jawbones of a halfbeak fish. Apparently, the fishbones were the ones causing all the trouble!
Soy Sauce Overdose
Some time ago, a 19-year-old man from Virginia was hospitalized after drinking half a quart of soy sauce on a dare. He was in a coma for three days. Apparently, the amount of soy sauce he dunked was too much for his brain to handle; the sauce’s sodium levels cased his brain to be dehydrated, causing bleeding among other things. Doctors has to pump in around 5.7 liters of sugar water just to normalize his body’s sodium levels. And fortunately, he managed to recover without any long-term neurological effects.
Too much of a good thing can be bad for you, and that’s what a young man from Germany learned the hard way. Immensely enjoying his Sudoku puzzles, he suddenly began having seizures. Apparently, the man was an avid Sudoku fan all his life, even solving puzzles when he was trapped in an avalanche during a ski trip. Though he was eventually rescued, he was later diagnosed with hypoxia, a condition that causes his body to have muscle twitches. And whenever he’s playing Sudoku afterwards, the seizures would start.
Hepatitis from Tea
Green tea is supposed to be good for the health. Unfortunately, that’s not the case for a 16-year-old girl from the UK, who started showing signs of hepatitis after drinking around three cups of green tea a day for three months. The girl ordered the tea online, and most of the ingredients are Chinese. And although the doctors from her clinic didn’t analyze the tea further, they advised the girl to stop consuming it, and her condition improved afterward.
The examples above are just a few of the most bizarre medical cases doctors face today. And whether it occurs in the hospital or in a simple medical startup, these situations make a very interesting albeit weird medical studies.
Sea-based OFWs need insurance or premiums just as much as the rest of us do. There are even moments when they need it more. Not only do they have to endure with homesickness (and sometimes loneliness) while working abroad, but many of them also have jobs that entail one form of danger or another. But if you still can’t see the point in getting insured, below are reasons to convince you otherwise.
Your Family Needs Financial Protection
Let’s get the most important reason out of the way, shall we? Most OFW families rely significantly on the remittances sent by their breadwinner. So imagine how much they’ll suffer should anything unexpected and unfortunate happen to you. By paying for quality premiums, however, you’ll be able to guarantee your loved ones’ financial safety even if you’re incapacitated or you experience an untimely demise.
Many Overseas Jobs are Dangerous
Though it’s not always the case, working abroad can leave you prone to various job hazards. And this isn’t just true for Pinoy seafarers, but for OFWs who are working land-based jobs as well. If unchecked, it would eventually lead to an unhealthy lifestyle, which can increase your chances of getting hospitalized and crippling your finances. By getting a good life insurance, you’ll be able to cover any expenses necessary to keep you safe and healthy while out of the country.
Philippine Recruitment Agencies Require It
According to the Migrant Workers and Overseas Filipinos Act (Republic Act 10022), recruitment agencies require everyone wishing to work overseas to get compulsory OFW life insurance before they get deployed. To put it simply, if you’re not paying premiums, no recruitment agency would consider sending you off abroad.
It’s an Opportunity to Grow Your Money
These days, financial institutions offer VULs. VUL or Variable Universal Life Insurance is a permanent life insurance policy that has a built-in savings component. In other words, it acts both as an insurance program and as an investment tool. By investing in VULs, you’ll not just get yourself insured, but you’ll also grow your money.
It Increases Your Chances When Getting a Loan
Lastly, having insurance increases the likelihood of your loan application getting approved. Many financial institutions look at a loan applicant’s credit score when considering their application. However, some also have a knack for checking whether or not they’re insured, since for some reason, they believe insured individuals are more financially trustworthy than those who don’t have premiums.
While not every OFW will find themselves in life-threatening situations, it still pays for our kababayans to have insurance. By paying premiums, you’ll be able to provide yourself and your family a nice financial safety net in case the worst happens.
Everyone deserves a break at one point or another, and doctors are no exception. But while the whole point of going on vacation is to unwind and relieve stress, many medical practitioners find themselves facing this or that situation, spoiling their holiday and leaving them even more worked up afterwards. So if you want to avoid these pitfalls, then best follow the rules laid out below.
Let Someone Else Plan
Most people (medical practitioners included) love going D-I-Y mode when it comes to vacation plans and itineraries. But if you want to maximize your much-deserved holiday, it would be better if you just let someone else make the plans. Either you leave it with someone who’ll go with you on your escapade, or you ask help from a travel agent.
Suggest an Underrated Destination
If you’re okay navigating in and around large groups of people, then you’re going to do fine in popular and prime tourist spots. But if you’re the type of doctor who doesn’t like being around large crowds and waiting in long lines, then best go for a tourist destination that’s a little bit off the radar.
Don’t Pack Too Much
Pack lightly for your holiday. Doing so will not only fee you of the trouble of having to carry excess baggage, but it will also save you your hard-earned doctor’s money. Plus, it takes you off the radar of people who might want to take your stuff and money from you. So for starters, the best way to lessen your load is to make a list and stick with it.
Be in Sync with Your Companions
Going on a solo vacation may be easy, but a holiday with companions is quite another story. If you’re going for the latter, it’s best if you and your companions are in sync with each other. That way, you’ll be able to enjoy each other’s company, and there won’t be any conflict regarding which place to visit or what activity to do first.
Lastly, disconnect yourself from your work and your electronic devices for the duration of your vacation. Leave your medical startup and patients with another medical practitioner who can cover for you. And only open your phone or laptop for emergency calls and emails. That way, you can maximize your holiday.
Follow These Rules
Going on vacation can be stressing for doctors if not taken seriously. By following the rules listed above, however, you’ll be able to maximize your holiday and get that relaxation and relief you surely need.
One of the things OFWs can do in case they’re short on money is get a loan. But just because you can borrow cash doesn’t mean you should. In fact, there are a lot of things you need to consider before you apply for a personal loan or pledge your vehicle or property as collateral. Below is a list of some of these factors.
Type of Loan
One of the first things you need to learn before borrowing cash from a financial institution is that they come in many types, including personal, business, student, and mortgages. OFW loans are specifically created to cater to Pinoy working outside the country, so if you’re currently employed in a land-based or sea-based job abroad, then this is the loan you need to apply for.
Length of Loan
Cash loans also come in various payment lengths. Some require you to settle your debt in as long as five years, while other firms mandate you return what you borrowed within three months. Thus, it’s important to factor your ability to repay what you loaned. Doing so will not only help you get the best deal available, but it will also enable you to settle your debts at the soonest possible time.
Interest rates come into play as well when you’re an OFW seeking financial assistance. These rates will impact the total amount of money that must be paid back, and it will help you find the best bank or financial institution to borrow cash from. So as much as possible, try finding a loan program that has a low interest rate. And make sure the program doesn’t have any hidden fees; otherwise you’ll be better off with high-rate schemes.
OFW or not, money lenders will look closely at your credit score before approving (or rejecting) your application. Needless to say that the higher your score, the more financially trustworthy you’ll seem to banks and lending firms. So if you want to borrow money and you find your credit score dangling on the lower end, best find ways to boost it first.
And then there’s your present financial status. Are you currently in debt? How much are you making on a monthly basis? And how much do you have left after tax obligations and remittances? You need to be able to answer these questions first before applying for a cash loan. Make no mistake, banks and financial institutions will ask them.
Think of These Factors
Understanding the factors mentioned above will help increase your chances of approval when applying for an OFW loan. Therefore, you would do well to think of them before going to the nearest bank or lending firm.
Summer is not only a great time to go beaching and strut your shorts or bikinis, but it’s also an awesome opportunity to go on an amazing road trip. However, before you hit the road, you mustn’t forget to make sure your new or preowned car is in good shape, otherwise you’ll start your getaway trying to fix a breakdown. Below are a few vehicle maintenance tips that will help you avoid costly car repairs this summer.
Find Cool Parking
Prolonged exposure of your dashboard to sunlight will leave its surface discolored and the steering wheel scorched. And that’s not to mention the sweltering temperature you’ll face the moment you open the doors! So as much as possible, best find indoor parking spaces or those near large shades. That way, you can minimize the car interior’s heat. Oh, and get your auto a nice reflective sunshade while you’re at it.
Check the Tires
You also need to check your car tires before you take off, since your safety would depend heavily on them. Tires are the only parts of your ride in contact with the hot road, after all; under or over-inflated tires tend to wear quicker, which could lead to accidents. So aside from bringing a spare tire, make sure the four currently on the mags are in tiptop condition.
Clean Smelly Seats
The combination of summer heat, sweat, and vapor helps build up mold, bacteria, and spores in your vehicle seats, leaving it smelly and dirty. To combat this problem, best wash and clean your new or used car at least once a week. And don’t forget to bring along a few good deodorizers and antibacterial auto products on your escapades.
Change Engine Oil
Engine oil is every vehicle’s lifeblood. Aside from keeping your engine running, it also helps cool it, lubricate internal parts, and prevent corrosion. Gradually, though, it will get dirty and dried up, especially during summers. So if you’re planning a summer getaway, better inspect your ride’s engine oil first and have it replaced if needed.
Watch the Check-Engine Light
An activated check-engine light can say a lot about your car’s condition. Although, it won’t tell you exactly what’s wrong with your auto, it does indicate that your ride is unhealthy in one way or another. So in case your check-engine light is on whenever you start your car, best don’t ignore it.
Car maintenance is vital whether it’s summertime or not. So if you want your beloved ride to stay healthy in hot seasons or cold, best take good care of it.
Despite their significantly considerable earning power, doctors find facing financial challenges very daunting. Aside from wondering how to settle their student loans, other things they worry about are managing their relatively low income during their early years, providing for their family, and maintaining their demanding schedule. If you’re one of these struggling medical practitioners, then here’s good news! Below are five tips you can follow so you can get on top of your financial life.
Start a Budget
Even if you’re already making big bucks working in the medical field, you should still not forget to plan your budget and expenses accordingly. Make no mistake, responsibilities and temptations can take its toll on a doctor’s money (food, housing, and transportation alone can take a big chunk of it).
Set aside at least a quarter of your income. That way, you’ll have enough money to use for your retirement or other goals. Saving is the best way you can face unexpected tough financial periods (i.e., unemployment, accidents, etc.), and it can help you push your long-term dreams forward.
Start Investing Now
Waiting until you have “enough” money before investing is a bad idea. Instead, you should start building your investment portfolio as soon as possible. Even if you contribute just 2% of your monthly salary, time and effort would gradually raise that percentage.
Settle Your Debts
If you’re still struggling with debt even after your paycheck has increased dramatically, then you need to start planning how to make that debt vanish. By taking on credit, you give your time away, since you have to work hard to pay it off. By settling it quickly, you’ll be able to free your time, allowing you to pursue your own goals.
Start a Family at the Right Time
Making babies may be easy, but having them can be expensive. Thus, you need to be financially ready before you consider establishing a family of your own. That way, you can maintain a comfortable lifestyle for yourself and your family. And you can better ensure they’ll have a secure financial future.
Bonus: Consult an Expert
Following the tips above will guarantee you a smooth and successful financial journey. Still, don’t worry if any different financial difficulty comes your way. There are many great financial consultants out there who can serve as a doctor’s financial ally. By asking their help, you’ll also be able to refine your financial plans, making it more fail-proof and efficient.
Doctors make busy professionals, especially considering the amount of time they put in their education as well as the hours they need to give in their careers. Still, that’s no excuse for medical practitioners to not become as financially savvy as possible. If you’re a doctor and you’re starting to educate yourself on how money works, then kudos to you. And to help you on your way, below are some truths about money management that might interest you.
Planning is Important
Saving and investing effectively requires careful planning on your part. That means knowing the exact amount of your monthly income, making a list of your expenses, and setting aside a portion of your salary to store in your bank account or deposit in an investment vehicle. It also means you should know where to best place your money. For example, some investment platforms have built-in tax benefits that can help you cover your children’s education costs as well as your retirement expenses.
Investment is Key
No matter how high a doctor’s cash income is, inflation can and will take its toll on his financial life. That’s why investing is so important. Not only does it allow your money to keep up with the inflation rate, but it can also make sure you’ll have enough by the time you call it quits and retire.
Money Spending is Psychological
All of us have hang-ups in one form or another. And more often than not, those disorders are more money-related for doctors than anything else. Some tend to be penny-pinchers who are terrified at the idea of losing their hard-earned cash, while others simply don’t know when to stop spending. In any case, changing your mindset is key to remedying this problem. By first admitting that you have this problem in your life, and then taking the steps to change your ways, you’ll be able to become a better money manager.
Over-Stinginess is Bad
While saving money on vacations or groceries are wise moves to make, taking it to extreme levels and depriving yourself of your basic needs is a big no-no. Doing so can be harmful for a doctor’s financial needs and health in the long run. And ironically. it will also not help you better save your money, since you’ll also be too scared to risk your money on smart investment vehicles that might otherwise help you grow your income.
Be Money Wise
Whether you like it or not, understanding money and how it works is a part of your life as a doctor. By keeping in mind the facts listed above, you’ll be able to become a financially savvy medical practitioner, allowing you to better face any medical and financial challenges that come your way.
The cold days are over and summer has definitely taken over. Our team has listed down these 10 cool and tipid vacation spots for you to beat the summer heat!
Baler – known for its medium to strong waves, perfect for surfing.
Surfing the waves of Baler.
Cabangan, Zambales – This is perfect to those who want to relax in a quiet place. It’s just a town before iba.
Chill on the beach of Cabangan, Zambales.
Mabini, Batangas – The resorts in Mabini offer boat rides to take you to diving spots, like the twin rocks.
One of many dive spots in Mabini, Batangas
Calatagan, Batangas – Beaches in Calatagan allows you to set-up your tent overnight or during a day trip. You can also cook freshly caught fish. The entrance fee is just 60 pesos/day trip and 100 pesos/overnight. How cool is that?
The shoreline of a beach in Calatagan, Batangas.
Tukuran River, Puerto Galera – There are lots of parties at night in Puerto Galera, but somehow there still are places that offer peaceful and relaxing ambiance, like the Takuran River.
Tukuran river, Puerto Galera
Mt. Pinatubo – where a 4×4 ride experience would be so cool.
Buntot Palos Falls Pangil, Laguna – Laguna is not that far from Manila, within few hours you can enjoy wonderful hot springs and it’s beautiful falls.
Anawangin & Nagsasa Coves, Zambales – It became known for its ash sand and agoho trees which gives a unique vibe feels like baguio and boracay in 1 place.
Taal Volcano – admirable from afar and you will definitely fall in love with it when you got there by trekking or by horse.
Anilao, Batangas – Its known for it’s diving spot where you can have a day of diving classes if you want to learn how to dive properly plus its only 3 hours away from manila.
These are just few “Tipid Travel Destinations” you can go this coming summer. Are you ready for your exciting adventure? If you need any financial assistance for your tipid travel adventures just apply for a loan product at loansolutions.ph.
For sure, almost all of us dreamt of having our own place when we’re still “young”, as in “bata pa, nag-aaral pa, at umaasa pa sa magulang”. But now that we’re already part of the labour force and earning, isn’t it about time to fund our dreams by buying our own car and other cool stuff? While “car vs. house” is another great debate, “house & lot vs. condo” is just as interesting and certainly as hot of a topic.
Which do you think is better?
To help you, we’ve conducted surveys and interviews to a good number of working Filipinos and a few real estate experts, to identify which one they think is better, given the current economic climate and other domestic situations which are relatable to most of us, Pinoys. Below are a few of the listed comparison points.
House and Lot
Likely seen in the city near shopping centers,
restaurants, parks and other interesting places to go to. Most likely close
to your workplace. Prone to noise and air pollution.
Usually seen in the village distant from shopping districts. Might be
hours from your office.
Usually with swimming pool and gym.
Less likely to have a shared pool/gym
Commonly with monthly dues for the shared amenities, facilities, and
security & maintenance personnel
You have full control of everything (maintenance, renovation, design,
Possibly thin-walled, so noise from other units or outside might
reach your place
Depending on how proximal the other houses are, there is less likelihood
of hearing external noise from a landed property. Unless you’re located next
to a public road.
Affordable, but depreciates over time
Less affordable, but appreciates over time
Security & Maintenance
Believed to be more stringent and thorough.
Believed to be dependent to village and/or neighborhood
Condo units if advantageously utilized as an investment can even self-amortize – eg. opening it for leasing with P15K/month rental fee vs. your P10K/month amort, generating P5K additional income to you However, we also know that life expectancy of condo units isn’t as high as those of houses & lots; ownership may not even be perpetual in majority of the cases.
So, have you figured it out yet? Which do you think is more fit for your needs and budget? If you have additional points for this debate, please add them to the comments section.
If you’re finally ready to move out and need a little assistance in finance for your condo or house & lot, just apply for a loan here.