How Cheap is a Website: Frugal Tips to Start Earning Online

Image from elementarydigital

It is common knowledge in the field of personal finance that having multiple sources of income can greatly aid you and your wallet. As much as possible, don’t settle for only one source. And a good opportunity you can leverage is having passive income.

Yes you heard that right. The keyword there is passive income. But what is passive income?
Investopedia defines passive income as “earnings an individual derives from a rental property, limited partnership or other enterprise in which he or she is not actively involved.” Popular culture, however, defines it as “any money you earn while sitting on a beach sipping mojitos.”

Simply imagine, you are still generating money while actively not doing anything to earn. Some may refer to this one as a dream come true. However, you need not look far to have that passive income source. As a matter of fact, having your own website would be a good passive income start.

Let me share you a personal anecdote. I am earning passively with the aid of this blog. For one, I earn via Google ads and second when I write articles. Though I need to actively update this blog from time to time, yet in the long run, I am getting a specific amount straight from Google. It might not be that big but somehow I get to earn something right?

Many might be taken aback by the mere thought of creating their own website. Some might say this is expensive and more so something that they don’t know a thing or two. Many will exclaim that they are not IT graduates hence they have no idea how to get started. But trust me when I say, anybody can do it and it is not really that expensive.

Here’s a cheap breakdown.

Platform

Creating a website is as easy as getting an email. If you know how to sign up for one, you are good to go to sign up for a website. You need not pay for the platform. There are already free ones found online such as Blogger or Wordpress. When I started my website, since I have a Gmail account I opted for Blogger as my blog platform. I simply shift to the Blogger site and it redirects me immediately to its very similar Word application where I enter my blogs title and content.

The website look needs not coding at all too. There are already many free templates that you can choose in line with the platform. If you need a unique one, you can opt to buy premium templates online or hire a web designer to do the work for you. You need not HTML knowledge at all to change how your website looks.

Domain Name and Hosting 

The next thing to consider is domain. When you choose the free platform, it usually has an extension to the domain like blogspot for Blogger and wordpress for Wordpress. If you want to delete those extensions, you need to buy a domain or a domain and a host. This involves money but it is very minimal. Many have monthly payments or yearly dues. As for my case, I only pay 400Php per year when I started my domain three years ago. That is pretty cheap if we are to divide it monthly.

There’s also top5hosting.co.uk for other hosting related concerns at very cost-effective rates. If you will be hosting your site, expect a minimal monthly fee to pay for the web host. They also offer discounts if you opt to pay for a year or more in advance. There are hosting sites that asks for 500Php every month while there are also expensive rates too.

These are just the three of the things you need when creating your website. You can always opt for the free ones in the first few months or in the first year of your website. However, should you wish to make it more personal with your own domain and theme, you might need to shell out some amount. However, if your website is already earning, this can compensate the monthly or yearly expenses. Plus, you can transition your website to a business in the near future. So don’t be afraid to create one and start earning passive income from your website.

Understanding PPI Refunds and How It Works

Image from Express UK

This might be a little bit technical to some but don’t worry as I walk you through PPI and its jargons. Moreover, this post is applicable to my readers outside.

PPI Defined

PPI stands for Payment Protection Insurance. This has been very popular because of the scandal and the kind of financial product it was. You might be acquainted with the word because of the news and more so with the calls you received because it can aid you in saving money.

PPI is a kind of insurance that is sold by companies whenever they give you a loan. The loan may be in any form such as unsecured cash loan and even a credit card loan. The principle is but the same. PPI was quite enticing to add up since it can guarantee that you can keep paying the loan regardless of events. For instance, if you end up losing your job or a sudden illness struck, you still won’t be missing those payments. At least you won’t be worrying much on getting it paid. At least not yet.

This really sounds enticing and as a matter of fact reasonable. After all, this serves as a payment protection blanket should there be unfortunate events in the future. Yet, in spite of its advantage, this led to a mis-selling scandal and court rulings. And now many people are claiming their share that is running into millions.

You might already exclaim the “PPI check by have I got PPI UK”, read on.

PPI Mis-sold

The thing with PPI, this was sold to individuals who are not even eligible to claim it. There are even reports of other people in which they don’t have full knowledge of the product. Some even claimed they don’t know that it is being sold to them already. PPI was already bundled into the loan.

As a form of example, say for instance you went to the bank to avail of a loan. The PPI then is often included in the loan. Sales staffs don’t even explain well the inclusion of the PPI and what is it for. This is what mis-sold is.

PPI On Loan

If you happen to take a loan in your bank in the past, be wary. You might not know you got PPI too. To make sure, trace back the conversation with the bank staff. If they happen to mention cover or ensuring loan payments, those are usually the trigger words that you have PPI as well. If you also took out a loan over or before 2012, PPI then was selling.

If you can’t remember the conversation, you need not worry. You can always check the original paperwork given to you. If you happen not to have the paperwork at all, you can always request your credit provider for the copy. You can even talk to them directly if they added PPI on it. Some of the paperwork might not spell out directly PPI but you can always catch similar phrases like protection cover or cover.

PPI Refund

You can follow this procedure in order to reclaim PPI. The first step would be to get the documents. You need to make sure you also take copies of the original loan agreement and other statements you might have. If there were correspondence as well, you can have those as added documents.

Second step would be to get in touch with the financial service company who sold you the PPI. You can then go there to begin the refund request.

To make the claim easier, there are already letter templates circulating online that you can use for reference. You need not draft another one. The important details are the following that must be included in those letters: reference number of the case, credit reference number, PPI number, when the policy was taken out, the financial product this was bundled and your name and contact details.

It is imperative you get to talk this one out with your bank. Not everyone however is entitled to a refund. Bear in mind that PPI is also useful. The ones who are eligible for refunds are the people who where mis-sold with PPI. You need not worry as claiming it now easier.

How Do You Save On Small Household Stuff

Image from mymoneycoach

Household stuff and items are essential but it can cost a lot of buck. Moreover these are consumable items that one tends to buy over and over again. While there is nothing wrong with buying these items as these are considered essential, for frugal individuals like me, we can always be creative in order to save some.

Household stuff like toothpaste and toiletries may cost little but these can easily cost a household hundreds of dollars every month. For one, these are essentials and we can’t practically live without these. Second, we tend to shop these items every week. Finally, these items can are consumables and oftentimes they don’t last that long. According to research a typical household spends 15% to 20%. If you are finding to scrimp even a single dollar just to save on these items, here are tips you can do.

Tip #1: Identify the Needs.

Saving money on household items starts from identifying the needs of the family. It is important to rank the household items accordingly. First thing the family needs to do would be to identify the essentials. Know the items you get to use regularly. Better review the past groceries the family have in order to know which ones were bought frequently. Then analyze the supplies. Know also the lifespan of each item. For example, how long does a tissue roll last? How long will the family use a toothpaste and so on? If possible, list down these items in accordance to the priorities. List item number 1 as the most important and how long it will last. You can identify the usage on a weekly or monthly basis.

Tip #2: Find Alternatives.

After identifying the necessities and ranking them accordingly, identify the brand of choice of the family. Include also the price so you will know how much the item costs. The next thing to do would be to find alternatives to these items. You might want to tour your local grocery store in order to list down the possible alternatives and the prices. For instance, if you have been using this toothpaste brand identify if there is another toothpaste in the market that can deliver the same results yet cheaper by a few bucks. Do the rest of the list until it is done. Again, find cheaper alternatives and look for other brands.

Tip #3: Use Coupons.

Coupons are there for a reason. Might as well look for those items be it in magazines or in stores. Sign up for store deals so they can email you coupons and related discount codes. There are already many avenues for you to get a coupon or two. First, you can scour the Internet for electronic coupon sites. There are even websites like Coupons.com and other Coupon Network where you can click and print the coupons. There are also coupons that you can get from newspapers and magazines. Simply cut those coupons out and you can present those at the counter. There are also in-mail rebates and credit card rewards.

Tip #4: Shop on Sales 

Stores are very fond on giving sales. Make sure to time when to shop so you can be able to seize on this price cut backs. You might want to shop during holidays where discounts are plenty. You can also get those about to expired household items as these are priced relatively low because of the due dates. There are a lot of sales and discounts around. Just keep yourself updated as to when. You can start signing up from these stores, stalk their social media profiles or visit their stores every now and then to know when they will be having those sales. Don't forget to check for reviews too like reviews on keranique for hair care sales and discounts.

Tip #5: Purchase in Bulk

As they say, the more you buy the lower would be the unit price. Which is why, it is always suggested to buy in bulk rather than buy in lesser units. There are even stores that reward such purchases. The only downside is you are going to buy more product than you actually need. But at least it will still take a while before you head to the grocery to buy that item again. Apart from saving the unit price you can also save a trip or two.

These are just five of the many tips you can do in order to save small household stuff. Start implementing a tip or two and you are on your way to maximize your money. What are your other tips to save money on household items?

Top 5 Businesses Ideas for Filipinos Today

Image from businessnewsdaily

Contrary to what you’re probably thinking, starting a business in the Philippines is not as difficult as others make it seem to be. While it’s true that launching a startup requires a lot of planning and expanding of capital or resources, there are business ideas that are simple enough to implement.

You could even run the business on your own, with little or no help at all from formal employees. You could also take advantage of business opportunities right in your own home or neighborhood, saving you from office rental and other related expenses.

Depending on your budget, background knowledge, and interest or passion, here are the top 5 investment ideas (in no particular order) with minimal requirements and great potential that you could venture into:

1. Ride-hailing or ride-sharing services

The two major players in the transport rental services in the country today, Grab and Uber, although may be embroiled in some controversy at the moment, the prospect of investing as an operator or partner still looks bright.

With all the hassle of public transport and an aggregate cost of using one’s own private car when traveling, more and more people are beginning to use ride-hailing or ride-sharing services to help them with their commute. It’s convenient, safe, practical, and widely available. As a partner of these services, you could rake in an average of P2,000 to P3,000 daily.

Here’s a quick guide on how to join the Grab or Uber network:

Sign up on their website (Uber, Grab) to apply as a partner-operator.

Upload copies of the required documents such as the proof/certificate of vehicle registration, your professional driver’s license, and other clearances that may be requested by the company.
Wait for the approval of your application within 24-48 hours.

2. Local convenience store

The “sari-sari” store will never lose its appeal to Filipino consumers, especially those living in Metro Manila and nearby provinces. Buying household items from sari-sari stores is often deemed more affordable for the average Juan dela Cruz compared to buying from supermarkets because of smaller portions, low prices, and convenience.

If your house is located on a busy street, the main road, a corner lot, or any other ideal spot and has enough space, then take advantage of that. You could operate your store and sell items in both retail and wholesale. Further, if your store is in a large community, you can supply other sari-sari stores in the area. Sales can reach as much as P20,000 on any given day.

3. Laundry shop

Self-service laundromats is another highly promising business concept. It’s quickly becoming a trend because of the growing number of condominiums, studio apartments, townhouses, and the like where there’s usually a very cramped laundry area for its occupants.

In contrast, laundromats can accommodate a good number of customers all at the same time, and some even have a snack bar and waiting area where people can chill while waiting. People also find it efficient and fast to do their laundry in specially-built washers and dryers in these shops.

Getting a franchise package consisting of five washers and five dryers may cost you approximately Php2 million, with ROI taking about two years. It may be worth investing for you considering there’s little labor cost involved (you may decide to hire a helper to oversee things in the shop), and the laundry equipment can last for up to 15 years.

4. Digital printing business

Also known as large format printing, part of the services offered here include sticker, billboard, banner, and tarpaulin printing. Your market may include offices, schools, and almost every type of business that needs signage and printing services.

To give you an idea, you could have a printing business in your home garage and market your services to nearby coffee shops, diners, pet care centers, and the likes to help them decorate their stores with sticker wallpapers. You could also promote your business on social media to expand your market reach.

You may want to buy additional equipment to include T-shirt printing in your business, which is easily marketable online. Last, but not the least, you could take advantage of the election season and holidays to print flyers and corporate giveaways that are in high demand during such time.

Investment capital may be from Php300,000 to Php500,000.

5. Car wash

Car owners and drivers often feel too tired to wash their car after a long day (or week) of driving, which means car wash service to the rescue!

Apart from a good location and honest, hardworking employees, you’ll only need to purchase a complete set of tools and equipment including the pressure washer, air compressor, industrial air blower, jelly blades, ladder, drums, and buckets, among others. You can have these items for approximately Php50,000. You’ll also spend on stocking your supplies and paying electric, water, and labor charges, which could cost you roughly Php40,000 a month.

With the right marketing and promotional strategies plus value-added services like offering referral discounts, free Wi-Fi, or other freebies, your car wash business could bring huge sums to your cash register.

There’s a whole lot of investment opportunities around these days, and there’s a place for everyone who wants a piece of the market, and that includes you.
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