Please check out my blog on Financial Freedom called Rich Filipino Club.
History has proven that investing in quality stocks can give greater returns than most investment instruments. This offers you the best chance in achieving your financial goals and gives you the ability to later enjoy the benefits of your money working for you.
Growing up in an average Filipino family setting, I never really paid attention in investing. I was under the impression that for me to be successful I need to study hard and get high grades, find a good job, save and go on with my life. Never was I aware (or I guess I ignored it) that saving your money in the bank will only yield a measly 0.25% interest per year. This simply means that your Php100 will earn you 0.25 centavos in one year.
I attended a seminar recently about investing in the Philippine Stock Market and it really was a huge eye opener. Ask any Filipino what’s the US Dollar to Philippine Peso exchange rate and they would give you a somewhat correct number. In contrast, try to ask a Filipino what’s the current inflation rate and you’ll be lucky if he/she even knows what it means.
Inflation in the country is at 4.1% which is still considerably low. How does this impact you and your goal to be financially independent? You’re money needs to earn at least 4.1% this year to break-even and more to earn. Is your money going to earn 4.1% by sleeping in your savings account?
Photo credit: http://www.philstar.com
An investigative report by Ted Failon on his show Failon Ngayon shed some light on the anomalies within the MWSS. Overcharging, improvement projects that are none-existent, benefits to the Board Members of MWSS that is questionable, and the impending water rate hike.
I ask you to watch these videos to have an understanding of how deep the problem is and urge you to sign the petition below to stop MWSS from allowing Maynilad and Manila Water to increase their rates when in fact they haven’t fully explained what happened to the extra charges they already collected from us, their consumers.
I also hope the President of the Philippines, His Excellency Benigno Aquino Jr act on this. It would a shame if he opens his State Of The Nation speech about how his “Daang Matuwid” is letting these anomalies continue.
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In article by GMA News
With less than a month to adjustment water rates, state-owned Metropolitan Waterworks and Sewerage System (MWSS) said it is still studying the proposed rate increase by Metro Manila’s water concessionaires.However, a consumer group labeled the public consultation as a hoax and claimed the rate increases were “almost approved.”In a report by Julius Segovia on GMA News TV’s “Balitanghali,” MWSS held its first public consultation on the rate hike at the Philippine Trade Training Center in Pasay City.The rate adjustments are supposed to take effect in July, but it is still under the regulator’s scrutiny, said Atty. Emmanuel Caparas, MWSS Regulatory Office acting chief.“Sinisiyasat ng mabuti ang kanilang mga dokumento, kanilang mga report, kanilang mga expenses, ang kanilang mga assets na ginagamit,” he said.“We always retain a very critical stance. We always have a very sympathetic ear when it comes to the complaints of the consumers,” Caparas added.West zone concessionaire Maynilad Water Services Inc. proposed a rate hike of P8.58 per cubic meter (cu. m.).Those consuming 30 cu. m. will incur an additional cost of P250 in their monthly water bills.The west zone includes parts of Manila and Quezon City, west of South Super Highway in Makati, Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon as well as the municipalities of Bacoor, Imus, Kawit, Noveleta and Rosario in Cavite.East zone concessionaire Manila Water, on the other hand, asked for a rate hike of P5.83 per cu. m., which means customers consuming 30 cu. m. will bear an additional cost of P125 to P135 in their monthly bills.The east zone covers parts of Quezon City and Makati, the southeastern parts of Manila, Taguig, Pateros, Marikina, Pasig, San Juan, Mandaluyong, and Rizal province.Under a concession agreement, a rate rebasing scheme is processed every five years and serves as the basis for MWSS to review a concessionaires’ past performance and future plans.However, consumer group Water for All Refund Movement (WARM) claimed the water rate hike petition was as good as having been approved by MWSS.The group wants President Benigno Aquino III to scrutinize the water sector during his state of the nation address in July.“Kunwari may public consultations pero gawa na po ang script,” alleged RJ Javellana, president of WARM.“Nananawagan kami kay Pangulong Aquino na sa kanyang state of the nation address ay bulatlatin at tignan ng maigi ang sitwasyon sa sektor ng tubig,” he added.
Expose of Issues and Controversies involving the MWSS (Manila Water and Sewerage System) and the two large private water concessionaires Maynilad and Manila Water.
Mahatma Gandhi said “Be the change you wish to see in the world.”
Photo Courtesy of http://www.expatch.org
Is it just me or is traffic in Metro Manila going from bad to worse? With the uncontrolled increase in the number of vehicles and the lack of addition roads I guess it’s but expected right? So what’s the government doing? Re-blocking EDSA and C5! Hahaha!
But don’t lose hope. There are some exciting projects happening to ease the situation. Some I consider to be good solution to the problem yet some I consider BAND-AID Solution to the problem.
Integrated Bus Terminal
There are 9000 to 12000 buses using EDSA which is almost 8 times more what it can handle. The solution according to the government is to move the provincial bus terminals to the south and north of Metro Manila to remove 4000 buses from EDSA. Ofcourse the bus operators are complaining saying that it’s not a good solution to the problem. I think it is a GREAT solution! Having the bus terminals moved outside the metro and creating a system similar to our airports would not just help the traffic situation but also security and making things more organized. We desperately need to organize NCR!
NLEX Harbor Link
People from Manila. Valenzuela, Caloocan, Malabon, Navotas are to benefit from this project. It’s purpose is to connect C3 and McArthur Highway to NLEX Mindanao Avenue and Balintawak both in QC. The construction has already started that will connect McArthur Highway to the existing Mindanao Loop. Though this is a good solution to the really bad traffic in CAMANAVA, this to me is just a temporary solution to the problem. Something that the rich will be able to afford. The real solution is to create more road networks and improvement of our public transport system. ADDITIONAL ROADS not ADDITION TOLLWAYS is the real solution.
Instead of Temporary solutions these are LONG TERM SOLUTIONS I believe would resolve our traffic problem:
1. Re-educating drivers
2. Changes in the application for driver’s license. Total Revamp on the Written and Actual Driving test (instead of driving inside the LTO compound have the applicants drive in real roads and rate them based on that). Maybe introducing a point system similar to what other countries are doing wherein all drivers will be given a number of points and will get deductions every time they violate the law and at renewal if they fall below a certain point then they will not be allowed to renew their license and undergo re-training.
3. Setup stop signs on intersections in the city
4. Road Widening and Construction and adding more roads
5. Rehabilitation and Upgrading and adding Train Networks
6. Rehabilitation and using our rivers as transportation networks
7. Phaseout Jeepneys in EDSA and C5
8. Lowering taxes outside the city to entice people to move outside of the congested city. (including VAT and Income Tax)
9. Imposing higher insurance rates to those who violate traffic rules frequently and lower rates to those who have no violation.
10. Limiting the number of cars per household.
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