Business

Talks about Mommy Ginger’s business tips and advice for momtrepreneurs. She shares valuable knowledge on topics like branding, marketing and consumer insight.

More women are now leaving their jobs in the corporate world in exchange for raising a family. And while this is a decision that they whole-heartedly made, most moms are still on the lookout for small business ideas for extra income and of course, for self-fulfilment.

Thankfully, there are already a lot of small business ideas that let you have total control of your time and resources. And with today’s technology and connectivity, opportunities to put up a business have become limitless.

As an entrepreneur, I get asked questions about the best small business ideas almost all the time. Most of those who ask me are moms, too, so today, I decided to list down five of the best business ventures stay-at-home-moms can start in a jiffy.

Here we go!

Business Idea # 1: Consultation Services for Analytical Moms

In the past, consultants equate to high-level data processing for huge businesses. But today, consultants can refer to anyone that has a special set of skills.

And it’s not limited to business.

We now have beauty consultants, health, and wellness consultants, and even personal coaches.

So what qualifications or certifications do you need to become one?

Truth is, certifications will depend on the expertise that you offer.

For example, certifications from previous work is a plus for business consultancy. You can present certificates on project management or business analysis. You can also use licenses for supply chain management or business planning.

Your years of experience can also attest to your expertise as a consultant. You can create a portfolio to showcase your skills and the clients that you have worked with in the past. Make a note of all your skills and services you can provide, I would suggest using a Journal from Jofelo as it’s one of the best.

Here are some examples of skills and services you can offer consultancy for:

  • Accounting
  • Advertising
  • Auditing
  • Career counseling
  • Communications
  • Business Consulting
  • Editorial Services
  • Insurance
  • Marketing
  • Writing
  • Beauty
  • Self-care
  • Finance
  • Health and Wellness
  • Fashion Stylist
  • Events Management

Business Idea # 2: Food Services for the Foodie Mom

Filipinos are foodies by heart, and our meals are more than just for nourishment. And today, we are becoming more experimental with tastes and textures.

That’s why it’s a pretty good time for foodie moms to share their tried and tested recipes with others.

Food entrepreneurs can now choose from different delivery options to get their products to customers. While having a good location still matters, it is no longer a limitation when it comes to great food.

Food carts and food hubs have offered food entrepreneurs more venues to offer their unique tastes. Weekly meal plans and other specialized diets can now be delivered door to door.

This solves a much greater dilemma for the growing crowd who are too busy to prepare healthy and great-tasting meals.

Get more tips on how to start your food business from Tycoon.ph here.

Business Idea # 3: Essential Oils for the Holistic Mom

Essential oils have been in use even way before the rise of modern medicine. Ancient civilizations have used essential oils for healing.

And it’s only today that this practice is being revived.

So why are essential oils a good business for moms?

A recent search on Google Trends shows that the search for essential oils has increased over the past year. As you can see in the image below, more people are becoming interested in learning more about how essential oils can make their lives better.

You have two ways of selling essential oils. One is to create your own blends and sell them under your brand, or source them and resell them online.

Some oils can be used as rollers for instant application throughout the day. Others can be bottled for diffusers or for creating personal blends.

You can also sell popular brands like Plant Therapy, Young Living, and dOTTERA oils.

But what’s most important is to learn more about essential oils and its uses before you make it a business. This will help you recommend the best oils to use for ailments and situations.

If you’d like to learn more about essential oils, check out Essentially KP.

Business Idea # 4: Online Store for the Shopaholic Mom

If you’re a gadget geek, a shopaholic, or a mom who knows how to make great finds, then an online shop can be an awesome business for you.

Mobile marketing is one of the biggest trends today. With all the available apps like Shoppee, Lazada, and OLX, it’s now easier to sell products and services to your target market.

Even Facebook has created Marketplace, where you can sell your products to different people at different locations.

So what can you sell online? Virtually everything you can think of.

Now you can find mobile devices, clothes, beauty products, food product, gadgets, and other stuff with just a tap of a button. And it’s also easy to sell because of the popularity of these apps.

If you have a bigger budget or want to sell in higher volumes, you can even do dropshipping and e-commerce stores.

Want to learn more about how to start your own online store business? Watch out for our upcoming workshops at Manila Workshops (http://manilaworkshops.com/events)

Business Idea # 5: Learning Centers for the Number-savvy Mom

If you love teaching kids, then setting up a learning center may be the best option for you.

I’ve been toying about this business idea for a while now. I’ve been tutoring Zeeka a lot recently and I was thinking of accepting other kids for tutorial sessions in the afternoon.

It’s like hitting two birds with one stone. I get to earn extra, and Zeeka also gets to have playdates after the session is done.

But if you want to take it up a level higher, you can open up a tutorial center, a daycare, or even franchise your own Math and Reading centers.

Zeeka has been trying out S.A.M. Singapore Math and she enjoys it. Ever since we started, it’s been easier for her to see patterns and understand equations better. But most of all, doing the program helped her improve her analytical skills.

Read more about our S.A.M Singapore Math experience here.

Now the good thing about this is, S.A.M Singapore Math also offers franchise opportunities for anyone who loves to teach and want to make a difference in children’s lives.

Check out this video to learn more about how you can start your own S.A.M Singapore Math Center today:

https://youtu.be/eJVQX8JFdHs

Now what’s awesome with a franchise business is that you’re not in it alone.

Franchises have a higher success rate compared to starting up your own. Instead, you get all the support and assistance you need to make the business a success.

You will get access to programs and training, marketing assistance, and even get help in choosing the best location to put up your business. This saves you a huge amount of time and effort, especially if it’s your first time pursuing a business.

Here’s what you need to become a S.A.M. Singapore Math Instructor:

    • Passionate about children and education
    • Love for children, and share a genuine passion for educating young minds
    • Degree holder in any discipline or professional qualification
    • Excellent English skills, and have fair knowledge in Maths
    • Excellent interpersonal and communication skills
    • Full-time dedication and commitment
    • Able to invest a minimum of P680,000 in order to start a SAM center or have a Tutorial Centre that does not offer Mathematics curriculum.

For inquiries on how to become a S.A.M Singapore Math franchisee, visit their website here.

There are many reasons why mothers make awesome business women.

We’re so used to handling so many things in different things at the same time. We’re awesome at budgeting and making ends meet. We are so good at choosing the best products for our kids and selling them to our mommy friends. Amiga marketing at its finest!

But most of all, we women have the strength, the wits, and the ability to maximize our full potential in any way we see fit.

So go ahead and start your small business idea today! And I’ll be here to cheer you on.

Do you have any tips on how you successfully started own small business ideas? Let us know in the comments below.

The thing about how to price freelance services is that it is so complicated. How do you price your own time, effort and expertise? How do we price fairly so as not to devalue ourselves or over-charge our clients?

I honestly think that I don’t have the “right” answer to this question, but what I can share with you today is how I do it for my own freelancing services.

The Basics of Pricing

One of the most common questions is, “What should I consider in pricing my freelancing gig?” The answer to this depends on the (1) services you provide, (2) the market or customers that you want to attract, and (3) your target duration for the engagement or for how long you will do it.

As a freelancer, you can consider two approaches: B2C and the B2B approach. The B2C approach is the business to consumer approach where you offer your services to individuals. The other approach is the business to business or B2B approach where you offer your services to businesses and large corporations (sometimes called “enterprise” services / offerings).

These two approaches matter, because of the costs per conversion (for this specific article, a conversion is a client that avails your services) will certainly be different for each approach.

4 Things to Consider on How to Price Freelance Services

#1 Check on what method you’d like to use after identifying your customer or the market that you want to tap.

There are two kinds of pricing methods that you can use:

One is the cost-plus pricing.

In this process, you will first try to figure out the basic or the total cost of your service while considering your time and the amount or weight of work. Then, after having a total cost price, you may now add a certain percentage which will serve as your profit.

I personally look at the total variable costs and top up a percentage on the total variable costs. Then, I come up with a floor price and a ceiling price for reference.

Most of the tools that we use as freelancers are online, Software-as-a-Service products. I usually use my PayPal account to pay for these services. This allows me to conveniently track my online expenses. This helps me collate all of my costs easily.

If you don’t have a PayPal account yet, you can click on this link to sign up: http://bit.ly/GA_O_PayPalSignUp

Usually, for the B2B approach, you can use a more value-based pricing strategy.  This means that you need to look at the value that you can give to the customer, and then without forgetting your costs, come up with a price that you feel best “quantifies” the value that you can give.

No matter what strategy you use, what matters most is that you give justice to whatever the client is paying for you to do.

Consider your monthly budget and try to figure out how many hours you will have to work to achieve that budget. By doing this, you can avoid overpricing.

 

#2 Check on the current Market Price for services like yours.

Surf the net and research on the price of your competitor’s services.

It would be much better if you will come up with a spreadsheet and list down all the freelancers, services and prices you’ve seen. From there, try to identify the value or set of values that you can give that your competitors can’t (unique value proposition). Check on how much value this can give the customer, try to again “quantify” it, and then see what an appropriate price will be given its uniqueness.

Pro tip: You may charge higher or lower than your competitors and it’s perfectly fine! Your pricing will depend on the value that you bring and on how efficiently you run your freelancing business.

 

#3 There’s no harm in asking your Client for a Budget

You can also ask the client about his/her allotted budget if you’re unsure of how to price freelance services. Then, go through the steps I indicated above.

See if that budget is something that you can work with. Also, money is not the only thing that matters. If you see that servicing this customer will get you more clients in the future, or if you think this will be a good addition to your portfolio, then go ahead and grab the deal.

 

#4 Don’t be Afraid to Negotiate

As a freelancer, you need to learn how to face and deal with clients. This career entails you mastering the art of negotiation, and also, knowing how to deal with rejection.

There will also be some clients who will ask for lower rates. Some may even ask you why you’re charging higher when your previous work required much less pay.

You need to know your worth for you to come up with a fair price for you and your client. And to do that, you need to have an estimated target income. This way, you can estimate how many clients you need to achieve that goal.  

Instead of becoming defensive or triggered, it is best to focus on creating a relationship with your client first. Make sure you make them feel that you’re genuinely interested in their business and enthusiastic about working with them.

 

In closing for How to Price Freelance Services…

Remember, it’s the quality of clients that count more than the quantity. So focus on the positive and keep on connecting with potential clients.

Also, always have a clear view of your cash flow. At the end of the day, your net income will be based on how much you earn less how much you spend.

Paypal also has a feature that gives you valuable insights on your income and expenses. With Reports, you get to see your average monthly income and other financial reports. This will help you keep track of your earnings and see if you’re reaching your target amounts.

Here is how you pull reports on PayPal:

Tracking your financial reports will also give you a glimpse of which acquisition strategies to use. If you’re doing the same thing and getting the same results, then it’s time to up the ante and change strategies. Then take note of which strategies work and then bank on them.

Learning how to price freelance services can be tricky at first.

But trust me, once you’ve learned and implemented the process and the strategies above, it will be a ride in the park. Good luck in coming up with prices for your services and if you need anything from me, just let me know in the comments section below.


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After knowing how to “fear-proof” your freelancing journey, I think it’s about time that we talk about the realities of freelancing. Obviously, this article was not written to scare you (or was it? Haha! Just kidding!). But, I really thought about writing this, because more and more people are interested to try out freelancing in the Philippines.

More companies are also open to hiring independent contractors. Also, a lot of people have been asking me about freelancing tips, especially from those who are thinking of shifting careers.

I’m sure you’re at that point in your life if you’re reading this article today. It’s either you’re in the process of becoming a freelancer or creating some changes in your freelancing career. Or maybe, you’re just curious about what freelancing really is or you want to get into freelancing, but you’re feeling a bit lost and unsure of how to start.

Whatever the reason is, I’d like to share 15 things about freelancing that you should know about. I’ll talk about the harsh realities and all the exciting things that make freelancing such a thrilling career option.

 

  1.    It takes a brave and courageous heart to be a freelancer.

Some people say online freelancing is easy. All you have to do is sit back and do things your own way.

But the truth is, it takes a brave heart and a courageous soul to be a freelancer!

It requires dealing with people coming from different countries, societies, and cultural backgrounds.  Yet as a freelancer, you have to surpass all of those barriers and differences to do you work and deliver world-class work.

And this is not an easy task.

 

  1.  Technological Limitations are real.

A recent article from Cosmo.PH says that the Philippines is one of the worst places in the world for freelancers. The factors they used to measure this included average internet connection speed, free Wi-Fi, and the average cost of a cup of coffee.

This is sad and true. You would hear a lot of freelancers complain about their internet service providers and the speed that they’re getting. There are also co-working spaces and good coffee places where you can get work done, but a freelancer’s budget is limited.  

As freelancers, we rely a lot on these things. If internet drops intermittently, then it’s game over for us. If any of your gadgets break down, like your laptop, all else will. With this, you always need to come up with a back-up plan in case these things happen while you’re working.

 

  1.    Avoid possible miscommunication between you and your clients.

You and your clients may have different beliefs and ideas. When you have clients from other countries, this is more likely to happen since you come from different countries and are brought up with different sets of values and grew up in different cultures.

Miscommunication may also happen because of differences in perception and intention (as I mentioned during my PayPal Freelancer Community Workshop). It can also be due to the differences in intonation or the words that you chose when communicating with a client.

So, as much as possible, try to keep this in mind and seek clarity with everything that you do for the client to avoid miscommunication. Write down how you understood the task and document everything. Send minutes of the meeting to your client so everyone is aligned.

 

  1.  We may feel that we’re alone (most of the time).

All freelancers would agree that they spend more time facing the computer than meeting an actual human being around them.

They barely go out because they are busily working at home. They don’t have co-workers to speak of, but if they do, these co-workers are all virtual co-workers. So, oftentimes, they feel alone.

But this feeling is something that can be addressed. There are a lot of meet-ups, workshops, and training sessions that you can attend. If you really need someone to talk to, join “offline” activities like the PayPal Freelancer Community Workshops. If you’re online, you can also get some support and reassurance by interacting with other freelancers in the PayPal Philippines Freelancer Community GroupWe can all share our challenges and our triumphs in this group, as well as be updated on the latest workshops when they’re announced!

 

  1.  Contracts end and clients move on.

One thing to expect is that change is a reality. At any moment, the person or company you’re working for may end your contract or close down. If the client would like to try another service provider, you do not have the right to complain (legally) unless you have a contract that says so. In this kind of work, there is no such thing as “employment contract” that guarantees tenure or at least a 30 day notice from either party.

You client can end your contract any time — if they feel that they have no need for a freelancer. You have to live with it and move on.

What you can do about this is to plan ahead. Look for ways where you will have a steady stream of clients. Continue to build your net worth, so that you can charge and demand a higher rate. This will help you manage your finances well (you will need fewer higher paying clients than getting a lot of low paying clients). You can keep and build relationships with higher paying clients.

 

  1.    Hone your Time-management skills

Clients are coming from all over the world.  Because of this, you would need to track timelines and deadlines based on their location. This way you won’t miss any deadline or fail to comply with the client’s requirements. Make sure that as a freelancer, you have the “world clock” working on your phone most of the time.

You also need to learn how to manage your time effectively.

Working from home or remotely may mean that you also need to do housework or take care of the kids. You also need to have your ‘me time’ to keep your sanity in check.

There are free online tools you can use to maximize your time. One of the tools that you can use is called Tomighty, a free online pomodoro app that lets you do tasks in 25-minute intervals.

 

  1.    Practice being Organized!

As a freelancer, it is necessary for you to learn how to organize things around you. Organize your desk (a clean desk brings clarity of thinking!). List the things or duties that you have to do. I have seen that “To-do-lists” work especially well.

Use tools that you are comfortable in using. If you are comfortable with writing in a notepad or notebook, then do it. If you feel more comfortable using Google Calendar, then use that. Online tools like Google Docs recently integrated calendars, notes, and a to-do-list tracker so you could take control of your tasks all in one place. And guess what! This is absolutely FREE! All you need to have is a gmail account to get started.

Another thing that I often miss is to send invoices on time. Do you know that PayPal has an invoice creation functionality? You can easily create invoices and easily send these to  your clients.

Check out how you can create and send an invoice:

If you don’t have a PayPal account yet, you can sign up here: http://bit.ly/GA_O_PayPalSignUp

 

  1.    You need to have Clerical Skills, too!

The administrative functions are tasks that we can’t do without. As a freelancer, we need to know how to send emails, collate data, do follow-ups, schedule events, and do all clerical tasks. You would also need to understand how to do basic accounting and bookkeeping in order to run your freelancing business.

You can use technology to make the most of your freelancing career.

Apps like Quickbooks and Freshbooks can help you track income and expenses easier. You can also use PayPal’s Report feature to keep track of your financial statements. This will give you insights, financial reports, and other information and help you create strategies to grow your funds, too.

 

  1.    Online Visibility Matters

As a freelancer, you need to have a strong online presence.

You need to learn how to market yourself and your services. You should be easily found by your potential clients.

You also need to be visible and available online. Your clients might contact you for different tasks at any time of the day. Remember, no client would like to send a message and receive a response the following day, except if it is a Sunday or an official holiday.

Based on experience, the more active you are online and the more you interact with others, the better it is when you’re still looking for clients.

 

  1.    Know how to market yourself and your services

As a freelancer, you are marketing your skills and the things that you can do.

The way you market yourself will be a testament to your marketing abilities as a freelancer. You are your own “portfolio”. Make sure that you let them know who you are, what you have done in the past, and what you are capable of doing. Continue to learn more about marketing.

 

  1.    Gain respect and trust.

Clients look at two things: your skills and expertise and your past performance. One way of looking at your previous performance is by looking at the posted feedback on your profile in different freelancing sites. Another way for them to see if you are a serious freelancer is if you take your craft seriously (if you are running a legit freelancing career with business documents, if you are using trusted payment methods like PayPal, etc.). I talked about this in a recent blog post. You can read this: https://mommyginger.com/mythbuster-why-you-need-to-pay-your-taxes-as-a-freelancer.html

You win respect and trust over time, so you need to be consistent in delivering amazing work.

 

  1.   Be Ready for Possible Stressors

Expect that as an online worker, you will most probably face a lot of stressors related to communication, internet connection, deadlines, and the like.

You need to learn how to adapt and manage things properly despite all the bumps along the way. A strong support system is also crucial. Surround yourself with people who understand and who will help you during these times.

 

  1.    Be cautious of scams

A lot of online predators nowadays are waiting for those people that they can scam. They would offer scam investments to try to get your hard-earned money. It is best to study every so-called opportunity before grabbing it. Protect yourself and your money by researching well and doing due-diligence before jumping into any “legit” investment or opportunity.

This is why contracts are important. It protects you from scams and other dubious deals. It’s also essential in ensuring your financial stability as a freelancer.

Never work on projects without having at least a 50% down payment. Even if you’re working with friends, it’s best to ask for down payment when dealing with projects.

PayPal has an option for creating invoices to make it easier for you to collect payment from clients. You can also set up invoices for recurring projects and even create templates for the services you offer.

 

  1.    Trial and error

We all make mistakes. If you lose a job, all you have to do is look for another. Learn from past mistakes to better your craft. Focus on the long game. Never lose hope and always aim to be better every day.

 

  1.    Keep the passion and the fire burning!

Remember that you’re doing something that gives time flexibility. Do things that you love doing! Money will come once you’ve found that sense of purpose.

In cases when you feel tired, just remember that we are all human. Obviously, we get tired at times. This does not mean though that it’s time to give up! Just think of why you’re in this kind of career and why you chose this. Remembering your purpose can help you realign your focus and meet your goals.

 

So that’s it! I hope all these freelancing tips helped you get more realistic view of what to expect when your start freelancing.

Do you have any questions about freelancing? Let me know in the comments section below.

Are you one of those freelancers who still ask why you need to pay your taxes?

I have heard many freelancers express their fear and disappointment about paying their taxes. “Why should we pay when we don’t have a stable income?” “Why should we pay when we can hide what we earn since we earn online?… the government doesn’t have to know!” Well, for the record, it’s not only freelancers who feel this way. For the longest time, this has been the sentiment of Filipinos in general.

It’s tough to live in a country where tax laws are so complicated. These laws are so complicated that you end up not paying at all. It’s difficult balancing understanding taxation with looking and working for clients as a freelancer. There’s just not enough time.

If you are facing these same dilemma as a freelancer, then I am here to tell you that there is nothing to fear. Instead of thinking of all of the disadvantages, let me share with you why I pay taxes as a freelancer. Let me give you the lo down why it’s actually beneficial to pay taxes and become “legit” self-employed individuals.

Enjoy your income! Enjoy being a Freelancer.

What good is hard-earned money when you can’t enjoy it. We all want to travel, have cars, own a house, etc. But in order to get our VISA approved or our car or home loans approved, we need to show proof of income. Since we are not “employed”, we don’t have a payslip to show or a Certificate of Employment to present. The chances that our VISA will be denied is high.

When you regularly pay your taxes as a freelancer, you have your tax forms that you can show as supporting document when you apply for a VISA or for loans. Your chances to get approved are higher, and you don’t have to worry about not ever having any proof of income. Remember though that you need to be a regular and consistent tax payer, meaning you have tax forms for every kind of tax that you need to pay and you never skipped filing / paying your taxes. To make it easier for you, you can check out https://www.taxumo.com to help you with your taxes.

 

Easily verify your PayPal account and will never encounter problems if your Business Documents are in place

PayPal is now strict when it comes to presenting proof of your existence. PayPal will require you now to present these “proofs”. This I think is a good move. This keeps all scammers away and protects all of us non-scammers! Here are the requirements from PayPal.

Proof of Identity: Present a valid proof of identity

PayPal accepts a copy of:

  – Your national ID card (front and back),

  – Your driving license (front and back),

  – Your Passport, or

  – Other photo ID that was issued by a government body

All of the information below must be visible on the document:

  – First and last name

  – Date of birth

  – Date of issue and expiry

  – Document ID number

Note: The document needs to be fully visible. Partial documents cannot be accepted as a valid proof of identity.

 

Proof of Business Address: Verify your business address by providing a valid proof of address

PayPal accepts a copy of:

  – Utility bills (phone and broadband services, health insurance, gas, water, electricity, etc.)

  – Bank or credit card statements

  – Any other government-issued letters or statements in your name

You can take a photo of your document and upload it to your PayPal account. You can also send us a copy or a screenshot of your online bills/statements.

They do not accept:

  – Purchase receipts/invoices

  – Partial documents

  – Screenshots of your online banking or service pages

IMPORTANT NOTE:

    • The name and address on the documents must match those on your PayPal account.
    • The proof of address document must be dated within the last 6 months.
    • We cannot accept P.O. Box addresses as physical address verification.

 

Business Info: Verify your business entity by providing a proof of business documentation
What is a valid proof of business?

Please submit a copy of your Business Registrations (Business registrations, Memorandum/Article of Association, Certificate of Incorporation or equivalent).

This document(s) must collectively contain the following information:

      • Who owns or controls your business,
      • The business name, registration number, and
      • The latest validity period of the business.

These are the things that you need to present. When you register with the Bureau of Internal Revenue in the Philippines as a Freelancer, you will have a Certificate of Registration or a COR. You will be able to submit this as proof of business. Once you have a COR though, you will need to regularly pay your taxes for your freelancing business.

If you don’t have a PayPal account, you can sign up here: http://bit.ly/GA_O_PayPalSignUp

Here is a quick video on how to sign up for a PayPal account:

Get bigger and higher paying Local Clients!

The thing about getting international or foreign clients is that there is a lot of competition. I’ve seen though that the local landscape is in dire need for more suppliers.

Local companies are now open to hiring independent contractors. In order to land a job with huge corporations or even just so you can haggle your pay, you need to be able to issue an official receipt.

Official receipts are documents that support sales of service, and it is issued upon collection of payment from customers. The large companies use official receipts as supporting documents for accounting entries that they create, and they also use it as “expense” when they compute for their own taxes.

So as a freelancer, this is what I do. I go through a supplier accreditation process. This process requires me to submit all of my business documents.

Then when I win a project, I send an invoice so that I can bill for services. Most local clients accept paperless invoices, such as a PayPal invoice. You can prepare your invoice conveniently using PayPal then you can send it through email. You can also use it as a reminder to collect payment and even send recurring payments to continuous projects.

After payment has been given, this is the time when you send the BIR Official Receipt.

 

Be a Responsible Filipino Citizen

Paying taxes is our duty as Filipino Citizens. If we truly want to help our country grow and prosper, we need to pay your taxes as a freelancer. Every day, we are experiencing things that we paid for with our taxes (drive through highways, take public transportation, etc.). If we want to see more improvement, we need to do our part and contribute by paying your taxes.

Also, if we want a voice, we need to earn that voice. I don’t think we have the right to complain if we’re not at least paying our taxes 🙂

 

Avoid being Penalized

In my opinion, this is the last and the least of your worries. If you are regularly paying then you need not worry about this. But for your information, yes, you can be imprisoned for tax evasion and non-filing of appropriate forms.

Failing to file and pay your taxes come with hefty penalties and can range from imprisonment for 2 to four years. Summed up, it can reach as high as up to five times than your original tax due. So, it would be better to pay your dues and avoid being penalized.

Personally, my freelancing business grew, because I’m legit and I pay taxes. Business partners, brands, and other people that I work with and plan to work with respect and trust me more, because I have a legit business. Having business documents will open you up to more opportunities and tools that you can use.

It’s always good to start your freelancing career the “legit” way, so you need not backtrack and fix stuff.

 

Work well and do it right! Pay your taxes as a freelancer!

P.S. For more information, click here: https://mommyginger.com/freelancers-questions-taxation-answered.html

With GInvest, Invest Anytime Anywhere!

I’ve been setting aside money for different investments. I’ve been investing since I was 27 years old. I’m using around 4 kinds on investment channels. The reason for the various channels is that I have different investment objectives for each channel. I have one that I will use for my retirement. The two other policies that we have are for the education of Zeeka (and other children, if we do have others). The last one that I have is really for emergency funds.

I personally love investing. Why? I just think that it’s like a game. Funny as this may sound, I love that investing feels like a personal game that I’m playing, and I’m competing against myself. I love that I actually have control over what happens, and the forces around me and the temptation to go shopping are my opponents! haha!

Recently, I found this cool new way of investing and it’s super easy! It’s called GInvest. So it’s hidden in our GCash App, in the “Show More” portion. Currently though, it’s on BETA and only available to a few individuals. Super blessed to be given the chance to test this.

So I clicked on GInvest and it asked me these questions first. You have to answer these questions as truthfully as possible since the main reason for this quiz is not to spy on you. It’s actually to get your risk profile and to get a sense of your risk appetite.

 

After you answer all of the questions, you will be shown your risk profile. In my case, I am a moderately aggressive investor.

You will then have access to the GInvest dashboard once your registration has been approved. Note that you will receive emails every step of the way. I like this, because it informs me of what’s happening with my registration / account event is I don’t open the application.

With GInvest, they will match your investment with what your risk profile is. Their partner for the investment products that they offer is ATRAM.

The ATR Asset Management​ (ATRAM or ATRAM Group) operates through ATR Asset Management, Inc. (ATRAM MF) and the ATRAM Trust Corporation. In 2009, the ATRAM Group decided to expand its presence in the fast growing domestic asset management industry by forming a dedicated business group called ATR Asset Management (ATRAM or ATRAM Group). Under this group is ATRAM Trust and ATRAM MF.

For those that don’t know, ATRAM Trust Corporation (ATRAM Trust) is the first stand-alone trust corporation in the Philippines. It received its license to operate last October 2016.

ATR Asset Management (ATRAM MF), on the other hand, was established in July 1995 as the Mutual Fund Management Co. of the Phils. (MFMCP) by the Clemente Fund Management Asia Ltd. to serve as investment adviser, principal distributor and administrator of the Mutual Fund Company of the Philippines also known as the “Kabuhayan Fund”. In 2003, Maybank ATR Kim Eng Capital Partners, Inc. purchased an 83% stake in MFMCP from some of the original shareholders thereby gaining control of the company.

Personally, I did my research first before I invested. I think they’re a pretty legit company. You can read more about them here: https://www.atram.com.ph/ATRAM/AboutUs/default.aspx

So the type of investment presented to me was ATRAM Peso Money Market Fund. This fund is a UITF or a Unit Investment Trust Fund. UITFs are types of funds that pools funds from different investors with the same objectives.

I wanted to try GInvest, so I clicked on the subscribed button, and transferred around Php 1000 for investment. Get this! The minimum investment amount is Php 50! If you want to invest extra funds every day, you actually can! So after hitting the subscribe button, I got a message that GInvest will message me back once I have the subscribed units.

It just took a couple of days (or less) before I got to see it on my dashboard as “subscribed”. For those who want more information about the ATRAM PESO MONEY MARKET FUND, don’t worry! You will receive an email that contains information about the fund like this.

 

What I like about GInvest

I like that I can easily invest. Investing before was (in my opinion) more tedious than just setting aside money for savings. I think it’s tedious because of the documentation that you need to fill out. You also need to coordinate with a financial or wealth advisor, even during the initial stages of the discussion. And lastly, to top up, you pay using bills payment channels, but to know if you have “subscribed”, you will still receive their manual “letters and official receipts” weeks after. If you want to know if your subscription was received, you will still need to check with you advisor oftentimes.

I also appreciate the amount of control that’s given by GInvest. I can invest or redeem whenever I want. I can also get updates and see my subscribed shares when I open the app.

I also like that the minimum investment amount is Php 50. When I first saw this, I couldn’t believe it!

Lastly, the “set reminder” functionality that sends an SMS to you with the amount that you set is something that is very useful. You can set it to remind you every middle and end of the month or every end of the month or every end of the quarter. It just makes everything more consistent.

What I wish GInvest would have

I wish they would have more investment products like stock both local and foreign stocks, etc. Also, if there’s a way to lock that certain portion of the GCASH app. This is just for extra data privacy. Also, if you could possibly add analytics (or a way to tell us how much we should invest to POSSIBLY reach a goal for our personal investments, that would be awesome!

So that’s about it, guys! Will I continue investing GInvest? Yes, I will.

I think I trust GInvest enough and most importantly, it’s so easy and convenient! haha!

Love Lots,