Digital Floors and Ceilings

Photo by  freestocks.org  on  Unsplash It's almost Christmas again, in fact it started last 2 months ago in the Philippines. The festivities will not be complete without some extra money, for us employees, which will be from our 13th month pay. So here are the list of things we can do with this pay. 1. Buy a new phone! I know you want that Iphone 11 and Samsung S10 with state of the art selfie camera quality and superb new features.  2. Fill up that coffee sticker to get a planner. That leather, suede and iconic siren is really irresistible! 3. Buy your wife/husband/partner a really nice gift. The smile on their faces would be priceless after receiving that gift. 4. Christmas shopping! Whether toys and clothes for our kids and godsons and daughter. Decorations and food for our home. 5. Book that vacation trip! Travel sale is just a few clicks away  6. New furniture for our house. That new sofa, dining table, or shoe rack is per...

For us who were born in the 70's to 80's, we grew up with our "alkansya" whether piggy bank, bamboo, jars, or tin can. It is where we put our precious coin savings (if there are any left from our baon/allowance). This is where we start to learn the value of savings even before being introduced to banks and "paluwagan".  A few months ago, I thought of how to maximize these loose change and excess allowance and add to existing investments but the amounts are small considering the minimum of most investment funds and time deposits. Sitting in a regular bank account, these small amount would have an interest of 0.10% to 0.25% per annum if you meet the minimum for interest eligibility. Time deposit minimums ranges from 10,000 pesos to 50,000 pesos while mutual funds and UITFs minimum ranges from 1,000 to 50,000.  I was able to identify a few alternatives: Digital Banks ING and CIMB launched last 2018 their mobile banking services. You c...