pdic_UsapangPera_GuideBook
pdic_UsapangPera_GuideBook pdic_UsapangPera_GuideBook
Acknowledgment I thank the Good Lord for the blessing of being able to share my thoughts with others through writing. I thank the PDIC for allowing me to be part of this milestone in its corporate history and its advocacy of spreading financial empowerment among Filipinos. I also thank the PDIC Editorial Board and Staff for their invaluable inputs in the making of this financial planning guidebook. Last but not the least, I thank my wife, Vicky, and my two daughters, Mavi and Roni, for being the constant inspiration for all the work that I do. Efren LI. Cruz, RFP Author
Table of Contents A Brief History of Deposit Insurance in the Philippines 1 Chapter ONE: Money is Important 5 A Brief History of Money 9 Different Forms of Money 11 Chapter TWO: Why and How to Save 15 The Different Life-Event Stages 16 How to Save 22 How to Know if Expenses are Justifiable 25 Chapter THREE: Depositing Your Money 27 Savings Accounts 33 Checking Accounts 40 Time Deposit Accounts 46 Closing the Deposit Account 50 Chapter FOUR: More than Just Interest Rates 53 Heuristics 55 Risk vs. Return 58 Ponzi Schemes and Pyramiding 62 Chapter FIVE: Member: PDIC 67 The PDIC at a Glance 68 Deposit Insurance Claim Process 72 Filing a Deposit Insurance Claim Steps in Filing Claims 73 Following Up the Status of Claims 76 Some Other Frequently Asked Questions 79
- Page 2 and 3: Copyright 2013 by the Philippine De
- Page 5 and 6: Foreword Through the Philippine Dep
- Page 7: insured deposits. This Guidebook is
- Page 12 and 13: Just like in the United States of A
- Page 14: Table 1 1 Maximum Deposit Insurance
- Page 17 and 18: Money is Important 7
- Page 19 and 20: A Brief History of Money At the hou
- Page 21 and 22: Different Forms of Money Seeing his
- Page 23 and 24: Financial Expert’s Corner They sa
- Page 26 and 27: The Different Life-Event Stages Six
- Page 28 and 29: “In our case, we are saving up fo
- Page 30 and 31: The next life-event stage is where
- Page 32 and 33: How to Save Mang Domeng, as if to r
- Page 34 and 35: Financial Expert’s Corner Saving
- Page 36: Why and How to Save 1. There are ma
- Page 39 and 40: A few minutes later, Tessie is alre
- Page 41 and 42: • Suspicious transactions are tra
- Page 43 and 44: Financial Expert’s Corner In acco
- Page 45 and 46: Banks may or may not issue an ATM c
- Page 47 and 48: He says that all that bank tellers
- Page 49 and 50: Tessie expresses some concerns. “
- Page 51 and 52: Aling Lorna smiles and continues,
- Page 53 and 54: Located on the upper left hand corn
- Page 55 and 56: Financial Expert’s Corner To avoi
- Page 57 and 58: Mang Domeng says to Aling Lorna,
Table of Contents<br />
A Brief History of Deposit Insurance in the Philippines 1<br />
Chapter ONE: Money is Important 5<br />
A Brief History of Money 9<br />
Different Forms of Money 11<br />
Chapter TWO: Why and How to Save 15<br />
The Different Life-Event Stages 16<br />
How to Save 22<br />
How to Know if Expenses are Justifiable 25<br />
Chapter THREE: Depositing Your Money 27<br />
Savings Accounts 33<br />
Checking Accounts 40<br />
Time Deposit Accounts 46<br />
Closing the Deposit Account 50<br />
Chapter FOUR: More than Just Interest Rates 53<br />
Heuristics 55<br />
Risk vs. Return 58<br />
Ponzi Schemes and Pyramiding 62<br />
Chapter FIVE: Member: PDIC 67<br />
The PDIC at a Glance 68<br />
Deposit Insurance Claim Process 72<br />
Filing a Deposit Insurance Claim<br />
Steps in Filing Claims 73<br />
Following Up the Status of Claims 76<br />
Some Other Frequently Asked Questions 79
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