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THE framing effect is a cognitive bias that occurs when our decisions are influenced by how information is presented or framed. Essentially, the same information can be presented differently, leading to different outcomes based on how it is stated.
THE sunk cost fallacy refers to our tendency to continue doing something simply because we have already invested time, money or effort, even when the current or future benefits are minimal or non-existent.
WHEN you were a kid, I’m sure a lot of people asked you what you wanted to be when you grow up. And as you entered school, the question changed to what career you wanted to pursue.
HOW do you raise the start-up capital for your business? This question is probably the biggest problem faced by those who want to become an entrepreneur.
WHEN you were a kid, I’m sure a lot of people asked you what you want to be when you grow up. And as you entered school, the question changed to what career you want to pursue. It was exciting to answer these questions, primarily because we had the freedom to choose among many possibilities, to decide which direction we want to go in life.
JUAN had a business idea. He followed all the necessary steps in starting a business and opened his store a few months after.
WHAT do you want to do this summer? Do you want a 1-week vacation in Boracay? What do you want to buy within the next few months? Do you want to buy a new smartphone? A new laptop? What about next year, or two years from now? Do you want to buy a car? Start your own business? Pay that downpayment for your dream home?
RETIREMENT means no stress, no pressure, and no worries. It depicts bliss, fun, and freedom—but not when you’re in a bad financial situation.
Almost everyone successful at saving money experiences difficulty when it comes to finally starting their investment portfolio. I know I did.
EVERYONE would agree that investing is something that financially smart people do. However, not everyone who has the money does it. Why?
YOU’VE been doing a lot of changes to improve your financial health. You’re proud of your accomplishments and your friends could tell that you’re doing well. Then one day, a friend confides that he’s been having money problems and hopes that you could help by lending him some cash.
DO you want to become a millionaire? If you do, then you’re a fool. Why? Because having a million in your bank account won’t make you happy. Do you know what will make you happy? Spending that million. Am I right?
COGNITIVE dissonance is a term in psychology where an individual experiences discomfort because they hold contradictory beliefs, ideas or values at the same time.
To retire young and to retire rich: this is the goal of most people; and this WAS certainly my goal. Yes, it was my goal—something that I wanted to achieve before…but not anymore. And let me explain to you why.
DO you want to become a millionaire? If you do, then you’re a fool. Why? Because having a million in your bank account won’t make you happy. Do you know what will make you happy? Spending that million. Am I right?
STARTING a business is one of the best things you can do in your life. It’s a challenging but ultimately rewarding experience. And like a lot of difficult things, doing the first step, which is finding your entrepreneurial spirit, is often the hardest part.
THERE are hundreds of investments out there. But which one is the best? How do you choose the right investment for you?
YOU don’t have to wait for your Christmas bonus or 13th-month pay to invest because a lot of companies have now lowered the minimum investment required for you to open and top-up your account.
THE e-commerce business is booming. Experts also predict 95 percent of purchases will be made online come 2040. E-commerce sales are also expected to grow 15 percent each year, dominating the retail market.
WHAT you believe controls your thoughts, which then dictates your actions. And having unhealthy beliefs about money will definitely lead to bad financial habits.
A participant in a personal-finance workshop that I was conducting asked, “How do we avoid spending during a mall sale?”
BUYING a condominium and calling it home is now common in urban cities such as Metro Manila. While buying a house and lot is still a dream for many Filipinos, young urban professionals and newlyweds are opting for condos as their starter home.
GROWING up, the only money lesson I really learned from my parents was that it’s important to ‘save money for the rainy days’. While that is indeed an essential lesson, to me at that time, this simply meant that I shouldn’t spend all my allowances and make sure that I save some for my piggy bank.
ONE of the most important realizations that many had in recent years while stuck at home is that there are a lot of ways to make money online.
PERSONAL loans are so accessible these days. You can even apply for it online. And most don’t need collateral and just base your approval on your creditworthiness.
KEEPING a budget can be a powerful tool for managing your finances, but it is not always easy to make. When writing up a budget, it is necessary to know how much money you spend on what purchases. A spending journal is a great way to add up and even itemize expenditures.
WHAT financial goals should you strive for in your 20s, 30s and until you retire in your 60s and beyond? Here’s a list that can serve as your guide.
WHAT is it like to be debt-free? What does it take to live a debt-free lifestyle? Is it possible to become debt-free on a low income?
STARTING a business remains among the top aspirations of many employees.
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