Interactive Financial Calculators

Interactive calculations, dynamic graphs and fully customizable reports are just a few of the features that make the calculators stand out!

You can find it in this site http://www.ipers.org/calcs/

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Money Personalities

Response to money is largely dictated by our personality. Understanding our personality in regards to money is the first step and will help us shape our approach to spending, saving and investing. So what's your money personality? Read on to find out.

What's your type?
Money personalities have been analyzed in a variety of ways and many people can identify with aspects of several profiles. They key is to find the profile that most closely matches your behavior. The major profiles are: big spenders, savers, shoppers, debtors and investors.

Big spenders
Big spenders love nice cars, new gadgets and brand-name clothing. Big spenders aren't bargain shoppers; they are fashionable and they are looking to make a statement. This often means a desire to have the smallest cell phone, the biggest plasma TV and a beautiful home. When it comes to keeping up the Joneses, big spenders are the Joneses. They are comfortable spending money, don't fear debt and often take big risks when investing.

Savers
Savers are the exact opposite of big spenders. They turn off the lights when leaving the room, close the refrigerator door quickly to keep in the cold, shop only when necessary, and rarely make purchases with credit cards. They generally have no debts and are often viewed as cheapskates. Savers are not concerned about following the latest trends, and they derive more satisfaction from reading the interest on a bank statement than from acquiring something new. Savers are conservative by nature and don't take big risks with their investments.

Shoppers
Shoppers derive great emotional satisfaction from spending money. They often can't resist spending money, even if it's to purchase items they don't need. Shoppers are usually aware of their addiction to spending and are even concerned about the debt that it creates. They look for bargains and are pleased when they get a good deal. Shoppers will often shop to entertain themselves, even if the items they buy go unused.

Shoppers are an eclectic bunch when it comes to investing. Some invest on a regular basis through 401(k) plans and other automatic investments and may even invest a portion of any sudden windfalls such as bonuses or inheritance money, while others view investing as something they will get to later on.

Debtors
Debtors aren't trying to make a statement with their expenditures, and they don't shop to entertain or cheer themselves up. They simply don't spend much time thinking about their money and therefore don't keep tabs on what they spend and where they spend it. Debtors generally spend more than they earn and are deeply in debt and they don't put much thought into investing. Similarly, they often fail to even take advantage of the company match in their 401(k) plans.

Investors
Investors are consciously aware of money. They understand their financial situations and try to put their money to work. Regardless of their current financial standing, investors tend to seek a day when passive investments will provide sufficient income to cover all of their bills. Their actions are driven by careful decision making, and their investments reflect the need to take a certain amount of risk in pursuit of their goals.

Advice for your personality
Once you recognize yourself in one of these profiles and have put some thought into how you approach money, it's time to see what you can do to make the most of what you have. Sometimes making just small changes can yield big results.

Spenders: Shop a little less, save a little more
If you love to spend, you are going to keep doing it, but you should seek long-term value, not just short-term satisfaction. Before you splurge on something expensive or trendy, ask yourself how much that purchase is going to mean to you in a year. If the answer is "not much", skip the purchase. In this way, you can try to limit your spending to things you'll actually use.

When you channel your energy into saving, you have another opportunity to think long term. Look for slow and steady gains as opposed to high-risk, quick-win scenarios. If you really want to challenge yourself, consider the merits of scaling back.

Savers: use moderation
Ben Franklin once recommended "moderation in all things". For a saver, this is particularly good advice. Don't let all of the fun parts of life pass you by just to save a few pennies.

Tune up your savings efforts too. Pinching pennies is not enough. While minimizing risk is any investor's prime goal, minimizing risk while maximizing return is the key to investing success.

Shoppers: Don't spend money you don't have
A critical step for shoppers is to take control of their credit cards. Unchecked credit card interest can wreak havoc on your finances, so think before you spend - particularly if you need a credit card to make the purchase.

Try to focus your efforts on saving your money. Learn the philosophy behind successful savings plans and try to incorporate some of those philosophies into your own. If spending is something you use to compensate for other areas of your life that you feel are lacking, think about what these might be and work on changing them.

Debtors: Start investing
If you are a debtor, you need to get your finances in order and set up a plan to start investing. You may not be able to do it alone, so getting some help is probably a good idea. Deciding on who will guide your investments is an important choice, so choose any investment professional carefully.

Investors: Keep up the good work
Congratulations! Financially speaking, you are doing great! Keep doing what you are doing, and continue to educate yourself.


Knowledge is power
While you may not be able to change your personality, you can acknowledge it and address the challenges that it presents. Managing your money involves self awareness; knowing where you stand will allow you to modify your behavior to achieve your desired outcome.

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Steps and Procedures of Philippine Real Estate Sale Documentation and Registration


STEP 1: CITY/MUNICIPAL ASSESSOR’S OFFICE

SECURE THE FOLLOWING:

1. Certified True Copy of Tax Declaration (House and Lot)
2. Certificate of No Improvement (If vacant lot)
2 Original Copies – 1 for BIR and 1 for Register of Deeds

STEP 2 : CITY/MUNICIPAL TREASURER’S OFFICE
SECURE A TAX CLEARANCE

*In order to secure a Tax Clearance, Real Property Tax must be updated as of date of document of sale.

STEP 3: BUREAU OF INTERNAL REVENUE
PAY THE FOLLOWING:

1. Capital Gains Tax (6% for individual seller or 7.5% for corporation)
2. Documentary Stamps Tax (1.5%)

Note:
*Capital Gains Tax and Documentary Stamps Tax shall be based on Selling Price (per Deed of Sale)
, Market Value of Tax Declaration, or BIR Zonal Value, whichever is higher.

*Form for Capital Gains Tax can be secured from the BIR or can be downloaded from the BIR website http://www.bir.gov.ph

Requirements:

a. Photocopy of Certified True Copy of Transfer Certificate of Title
b. Certified True Copy of Latest Tax Declaration
c. Real Estate Tax Clearance
d. Original and two (2) Photocopies of Deed of
Absolute Sale
e. Certificate of No Improvement from the Assessor's Office if vacant lot.

Additional Note:

a. Payment for Capital Gains Tax and Documentary Stamps Tax shall be in cash or in managers check, to be paid to the BIR Regional office or BIR-authorized banks where property is located.

b. Capital Gains Tax shall be filed and paid to the BIR within thirty days from date of sale.

c. Documentary Stamps Tax shall be paid on or before the 5th day of succeeding month from the
date of sale.

STEP 4: CITY/MUNICIPAL TREASURER’S OFFICE
Pay the Transfer Tax at the Treasurer's Office.
Requirements:

a. Photocopy of Deed of Absolute Sale
b. Photocopy Transfer Certificate of Title
c. Photocopy of Tax Declaration
d. Photocopy of Real Estate Tax Clearance

*Transfer Fee is 1/2 of 1% of Selling Price or Market Value of Tax Declaration, whichever is higher

STEP 5: REGISTER OF DEEDS
Submit to the Register of Deeds where property is located the following documents:

a. Owner's Duplicate Copy of Transfer Certificate of Title
b. Deed of Absolute Sale (3 copies)
c. Certificate Authorizing Registration from
the BIR
d. Transfer Fee Receipt
e. Photocopy of Real Estate Tax Clearance
f. Photocopy of Tax Declaration or if vacant lot, Certificate of No Improvement

A NEW TITLE UNDER THE NEW OWNER’S NAME WILL BE RELEASED BY THE RD

REMINDER: The owner or the broker as authorized by the owner should be the one to present the above documents to the Register of Deeds because the new TCT shall be released only to the presenter of the above documents

STEP 6: CITY/MUNICIPAL ASSESSOR’S OFFICE
Secure from the Assessor's Office a new Tax Declaration.

Requirements:

a. Photocopy of Transfer Certificate of Title under the new owner’s name, duly authenticated at the Assessor's Office
b. Photocopy of Deed of Absolute Sale
c. Real Estate Tax Clearance

IMPORTANT:

Always bring Certified True Copies of the documents as well as necessary receipts to avoid inconvenience in case you will be required to present them.

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