Goat Paiwi Program: My Passive Income Update

This is an update of my blog post on my passive income.

Yesterday was the date that I am supposed to get my second payout on the Goat Paiwi that I participated in two years ago. So did Ranger Farm give my payout as scheduled? The answer is a big YES.

You can see below the schedule of my payout. There is also a note that I have to confirm once it is verified.

According to the person that I spoke to via messenger, they deposited the check to my BDO account yesterday. Since it is holiday today, the amount will be reflected to my account tomorrow. Below is the proof that they made the deposit yesterday. I blurred some details. Once the check deposit is cleared, I will confirm everything in my dashboard.

Overall, I am satisfied with Ranger Farm. They are on time and they really do communicate with me.

Senior High School Voucher Refund

On January 18, 2019, I received a text message from my daughter’s school that the subsidy from Deped Voucher Program (1st semester S.Y. 2018-2019) has been credited to my daughter’s account. I asked what the process is in order to refund. I was told that I should go to the cashier to get a refund form.

Last week, I went to my daughter’s school and asked for a refund form. I was so surprised to find out that I will be getting a refund of PhP9,000 for the first semester. I thought it was only PhP7,000 because my daughter came from a private school in the province.

There are documents that I need to submit in order to claim the refund. It’s good that I was able to keep the official receipts for my daughter’s reservation and enrollment for the first semester. As for the assessment/registration form, I need to get a certified true copy from the Registrar’s office.

I am glad that DepEd has released the subsidy early this year. Admittedly, education is expensive with the addition of two years in High School.

Thanks to the Senior High School Voucher program. This is money I can save and add to my daughter’s college fund.

2019 Goals

Happy New Year!

It is so common to have New Year’s resolutions. I used to do them when I was young. I just don’t do it anymore. Instead of doing New Year’s resolutions, I am going to list down the tasks that I need to be able to do for this year.

  1. Have my house in Cavite assessed to be able to file the correct real property tax. I bought this property way back in 2008 and it turns out that I have been only paying the real property tax for the land. So, I will have to complete the documents and ask my personal assistant to help me in submitting the documents and have the improvements assessed.
  2. Update my holographic will.
  3. Open a savings account for my short term vacation fund. This should be a different bank. There is no need to budget for this every month. If there is extra money, I will fund this so that I can dip into this fund if I need to go on a short local vacation.
  4. Open a savings account for my passive income. This should be a passbook savings account so that I can track all my passive income in one place.
  5. Continue to contribute to my company’s mutual fund savings.
  6. Find ways to help my parents pay their debts.

This is going to be enough for this year. I don’t want a long list since I also need to be realistic about what I can achieve for this year.

Accounts Organization

As we continue in our personal finance journey, we may find it more practical to open different accounts for different purposes or goals. Imagine if you put all your money in a single bank account, how do you think will you be able to track how much you have saved for a specific goal?

I think it makes better sense if we track those savings goals in different accounts.

Here is how I organized my savings goals in different accounts.

  1. BPI Pamana – This passbook account contains my emergency funds. This has three to six months worth of my living expenses. This is what I would call the mega emergency fund and is not tied to an ATM card.
  2. BDO ATM account – This ATM account contains my general savings. It acts as a local emergency fund. Whenever my daughter needs extra money for her school assignments or projects, I would just transfer money to her debit card through online banking.
  3. Gold ATM account – This is tied to my checking account. This is used for tuition fee payments.
  4. BPI Debit Card – This is where I save the child support that is being remitted on a monthly basis.

For me, this is more manageable. It makes my life easier. =)

How do I fund my local emergency fund? Each month, after I put money in the different envelopes, I deposit the excess money in the BDO ATM account. That way, I am able to fund my daughter’s other school miscellaneous expenses especially when their club has photoshoots.

I have realized that I still lack one bank account. I would need another ATM card or passbook savings account for my passive income. Admittedly, my passive income is being deposited in my BDO ATM account, which should not be the case.

Come 2019, I will be opening another bank account for that purpose.

What Will You Do When You Get a Salary Increase?

I used to work from home for more than eight years as an Independent Contractor. I received the same salary for seven years and I did not complain. Yes, that’s right. Although I was paid a rate that is enough for my skills, I negotiated a rate that would somehow cover everything that my daughter and I would need. Unexpectedly, on the eighth year, I received an increase. =) It was the largest salary I ever had in my entire working life, even if I did not have benefits.

When I returned back to the corporate world, I knew I would receive a pay cut because I applied for a full time position that offers benefits. And that was okay with me. I have been working for the same employer for more than two years now.  Unexpectedly, this year, after I came back from my vacation sometime in June, I was surprised to find out an unexpected amount on my payroll atm card. I inquired from the Payroll staff and they have confirmed that I was given a salary increase.  It is not normal to have an annual salary increase in my current employer. It is the first time I had a salary increase ever since I started with them way back in 2016.



Since it was really unexpected, I thanked my boss for giving me an increase. She told me that I did a great job and that I should continue with it.

So what did I do with my salary increase? I did not do a lifestyle upgrade. In fact, it is timely since my daughter is in Senior High School and there are just a lot of expenses especially that her strand is Fashion Design.

There is only thing that I really did feel. Gratitude. It has been my constant feeling after surpassing a lot of trials. As a token of gratitude, I donated a certain amount to charity.

I believe we do not have to be crazy rich before we share some of our blessings with others.

How about you? What will you do when you get a salary increase?

User Friendly

They say it’s hard to find real friends.  I must say that it is true. At my age, I don’t like to have too many friends. I only want real friends. But sometimes, even if we do have long time friends since High School and College, something always changes. Of course, people change. The dynamics of friendship can also change.

What do you think would happen if you found out the real intention of one of your friends?

Allow me to share with you a very sensitive topic.

ABC had been a long-time friend of mine since College. I finished my BS Computer Science degree while she did not finish it. We went on with our lives, growing as working adults until we both had our own families. And then, I became a single working mom.

ABC and I had lost contact for some time until typhoon Ondoy.  I tried to reach out to her because I knew her hometown was affected. I tried to be there for her and recommended her to my sister who had her own business. I helped ABC to get back on her feet with a good recommendation to my sister. She got the job.

We were good friends. She knew how much I was paying for my housing loan. But I never disclosed to her how much I was making. She is married with two kids. And I was a single mom when we kept our friendship intact again. And then, something changed. The dynamics of the friendship changed.

The first instance was  when ABC called me as a last resort to help her husband find work in the USA. That call showed me a different side of her. “Kaye, tumawag ako sa yo as a last resort. Kelangan kasing makahanap ng trabaho si hubby sa US. Namomroblema kami kasi kelangan namin na makalipad na sya papuntang US. Pwede bang makahiram sa yo ng P8,000? Yun na lang kasi ang kulang.”

On the other end of the line, I said, “Sige.” I said this because I have savings. And then, ABC uttered, “Kaye, baka pwedeng mahiram ko na agad kasi flight ni hubby malapit na.”

I was literally shocked but kept my voice calm. In short, I lent the money in good faith knowing that her hubby will be able to get a job and to be able to provide for his family. Single mom to the rescue.

Did ABC pay? I had the loan documented and gave her a schedule that I thought would be enough to be able to pay me back. That was two equal payments to be made to me. There was one payment that was really late. I checked out her facebook page and discovered that her two kids had brand new cellphones each. And I was like, ouch! upon the discovery because I was not paid yet. I talked to ABC and discussed the payment schedule. I decided to give her a chance to be able to live up to her promise.

The P8,000 was paid in full with some delay.

After that incident, ABC had this habit of borrowing money from me again and again and again.  Apparently, when she started borrowing money from me, she did not know that I started to feel uncomfortable with the new dynamics of the friendship that we had. Feelings started to bottle up inside me.

In one instance, she was proposing a business to me. She said that she could implement the business but that she would need funding. My gut feeling was telling me, “You took your MBA, Kaye. She should have a business plan. You’d be an idiot if you fund her business.” I did not give in. Again, feelings compounded and remained bottled up inside me.

One time, her hubby forgot to remit to her the payment for their utility bills. ABC talked to me if she can borrow a certain amount to pay their electricity bill because her hubby forgot to remit to her. I did not lend her money. Again, feelings compounded and remained bottled up inside me. I did not care if they did not have electricity that night. I was thinking that they should learn from it.

In another instance, ABC talked to me and said she needed money badly for her tuition fee because she was trying to finish her degree in night school. She said that she would give me her atm card so that I can take the funds from her salary once she is paid. At that moment, I already felt like I was some bank.

The story of this friendship continued to build momentum until June 2, 2015 came.  This conversation happened two days shy of my actual birthday. She did not know that my Skype’s conversation history is turned on.

[6/2/2015 11:28:23 AM] ABC XYZ: Good morning
[6/2/2015 11:28:43 AM] Me: good morning!
[6/2/2015 11:30:23 AM] ABC XYZ: Kaye I would like to ask favor…if possible na makiride ako gamit lang ng kids… like shoes and uniforms then notebooks…sorry super nagipit kami something happened unexpected…. but we’ll pay it in a month
[6/2/2015 11:31:17 AM] ABC XYZ: super promise… kahit i will sign… kagabi ko pa iniisip yan
[6/2/2015 11:31:27 AM] ABC XYZ: papasok na kasi next week
[6/2/2015 11:31:34 AM] Me: naku pasensya na ABC. bibili pa ako ng ibang kelangan ni Abby and i just bought my maintenance meds
[6/2/2015 11:31:43 AM] ABC XYZ: Ouch
[6/2/2015 11:31:55 AM] ABC XYZ: hmmm okies… thanks..
[6/2/2015 11:32:02 AM] ABC XYZ: at least I tried 🙂
[6/2/2015 11:32:04 AM] Me: you’re welcome.

Makiride. That meant she wanted to ride on my credit card.

After this conversation, I felt like I did not have the right to celebrate my own birthday. That’s what I truly felt.

I checked out her facebook account and her children’s facebook account. It turned out that they bought a puppy on May 2015. I interviewed her daughter what they fed the puppy with. It turns out they buy dog food in the grocery. Well, my point is, why buy a puppy when your kids need shoes, uniforms and school supplies in time for school in June?

I was fuming mad and angry. But I tried to keep my calm to have a stress free birthday. My birth month ended and she did not remember to greet me a belated happy birthday.

Her birth month is July. So, n days before her birthday, I interviewed her. I asked her what happened to her credit card. She replied to my text saying that she terminated it when her husband became a drug addict. We still had a Skype conversation. Here is a snippet of the documented conversation. I just renamed her to ABC XYZ.

[7/6/2015 12:01:44 PM] Me: inuuna ko yung mga pangangailangan namin ni Abby
[7/6/2015 12:02:11 PM] Me: i can’t fall into sin na mapabayaan ko sarili kong pamilya
[7/6/2015 12:02:18 PM] Me: i was spending P3k for meds alone
[7/6/2015 12:02:25 PM] Me: hiwalay pa yung professional fees ng doctor
[7/6/2015 12:03:10 PM] ABC XYZ: i just hope you will also learn to differentiate people
[7/6/2015 12:03:21 PM] Me: like i said, inuuna ko yung pamilya ko
[7/6/2015 12:03:29 PM] ABC XYZ: of course
[7/6/2015 12:03:32 PM] ABC XYZ: I understand
[7/6/2015 12:03:33 PM] Me: P3k monthly for meds
[7/6/2015 12:03:35 PM] ABC XYZ: no worries Kaye
[7/6/2015 12:03:38 PM] Me: P1,100 monthly for pf
[7/6/2015 12:03:48 PM] Me: kung alam mo lang yung nangyaring confinement ni mommy
[7/6/2015 12:03:59 PM] Me: i am saving all for my health expenses kasi walang tutulong sa akin
[7/6/2015 12:04:08 PM] Me: financially
[7/6/2015 12:04:14 PM] Me: i am all alone in this
[7/6/2015 12:04:25 PM] Me: insulto kasi sa akin dahil single mom ako
[7/6/2015 12:04:42 PM] Me: i’m saving for my retirement, for my short and long term health expenses
[7/6/2015 12:04:53 PM] Me: i lost days worth of income nung na-confine si abby
[7/6/2015 12:05:00 PM] Me: hindi na-cover ang confinement ni abby
[7/6/2015 12:05:08 PM] Me: i spent money for her eeg and mri

[7/6/2015 12:05:52 PM] ABC XYZ: Really sorry like what I have said
[7/6/2015 12:05:54 PM] ABC XYZ: I understand
[7/6/2015 12:06:04 PM] ABC XYZ: sabi ko nga magtatampo lang ako
[7/6/2015 12:06:08 PM] ABC XYZ: but wala yun
[7/6/2015 12:06:09 PM] ABC XYZ: it’s not galit
[7/6/2015 12:06:15 PM] ABC XYZ: iba yung galit sa tampo
[7/6/2015 12:06:20 PM] Me: okay lang magtampo.. nagtatampo din ako
[7/6/2015 12:06:21 PM] ABC XYZ: you’re like a sister to me
[7/6/2015 12:06:26 PM] Me: it’s human emotion

[7/6/2015 12:09:46 PM] Me: sorry din kung medyo masakit sa yo mga nasabi ko
[7/6/2015 12:09:49 PM] ABC XYZ: kaya nagulat ako sa text mo
[7/6/2015 12:09:56 PM] ABC XYZ: yung dating sa akin utangera ako
[7/6/2015 12:10:09 PM] Me: i am trying to establish boundaries. hope you understand
[7/6/2015 12:10:12 PM] ABC XYZ: as if yun lang yung gusto ko sa friendship
[7/6/2015 12:10:17 PM] ABC XYZ: like oh my god
[7/6/2015 12:10:19 PM] ABC XYZ: ganun ba yun
[7/6/2015 12:10:29 PM] ABC XYZ: I know
[7/6/2015 12:10:34 PM] ABC XYZ: at least now I know
[7/6/2015 12:10:52 PM] ABC XYZ: pero naisip ko lang kasi a friendship doesn;t have boundaries

[7/6/2015 12:11:01 PM] ABC XYZ: if it’s real friendship
[7/6/2015 12:11:08 PM] ABC XYZ: what you can only do is to say
[7/6/2015 12:11:15 PM] ABC XYZ: sorry you can;t help me for now
[7/6/2015 12:11:29 PM] ABC XYZ: but like sige friend tayo
[7/6/2015 12:11:34 PM] ABC XYZ: but bawal utang
[7/6/2015 12:11:43 PM] Me: ganyan kami sa solo parents..
[7/6/2015 12:11:48 PM] ABC XYZ: i haven’t seen that kind of friendship
[7/6/2015 12:11:55 PM] Me: bawal kasi yun sa solo parents pag nag join k

We still had another cellphone conversation after that. I really did dig deep. I asked her, “What about your emergency fund?”

ABC answered, “Hindi pwedeng galawin yung emergency fund.”

After 15 years of friendship, I finally discovered her intention. In my mind, “Hindi pwedeng galawin yung emergency fund pero pwedeng mangutang kay Kaye at mag ouch pag hindi napautang!” 

It turns out that whether we like it or not, people can change for the worse even if they are long-time friends. I could not forget the line. It was ABC’s line that brought me to the final conclusion: end the friendship.

I have already helped her by recommending her to my sister. That was the best help anybody could have offered.  It is not my problem if they cannot manage their finances.

I really felt mortal. At the end of the day, I will choose my family over my friend. I will not let a friend ruin my family’s finances. It already happened to my parents.

A real friend will understand and appreciate what I do. For more than 10 years of raising my daughter single handedly after I was evicted in my parents’ place, I foot the entire bill on my own. I never ran to any friend financially.  I never bothered asking money from my parents.

What is the value of friendship nowadays? What price do we have to pay when someone changes the dynamics of the relationship?

A friend, by definition, is a person whom one knows and with whom one has a bond of mutual affection.

A friend is not a bank.

Passive Income

I have always dreamed of having my own business. So last year, I attended a franchising seminar in the SMX Convention Center. I initially wanted to have a food cart business.  After that, I also interviewed my staff who previously had a food cart business. He mentioned that he needed a revolving capital for the first six months of the operation. Then, I realized that I wasn’t really ready to have a business.

In my desire to have extra income, I researched different options. I read forums that I found in Google search until I discovered DV Boer Farm (www.dvboerfarm.com)  in one of the threads that I stumbled upon. I researched the company and reached out to the contact person via email. Here is the SEC registration of DV Boer Farm as posted on Facebook.

The contact person introduced me to  profitable agricultural business program for beginners. She also sent me sample contracts of the different packages that they offer.  That’s when I was introduced to a new concept, landless farming.

In this agri-business venture, I, the Paiwi partner, availed the services and farm facilities of DV Boer Farm as provided for under its  Profitable Goat Raising Livelihood Program. Basically, in this venture, I availed 30 upgraded does and DV Boer Farm will take care of them for me for the duration of the contract which is 35 months.

The Paiwi Partner will earn based on the sale of the kids. There are four kidding cycles so there will be four payouts. At the end of the contract, DV Boer Farm  will buy the 30 breeding does.

Last year, I was able to avail this package at Php 290,000. And it is good that I made that decision. I haven’t visited the farm where I availed my package since it is in Iloilo. I just asked for a picture of my goats. Meet my goats. =)

I had my first payout this year.  Please see proof of first payout below.

How much do I earn from this venture? I will earn a total of 122% interest after 35 months.

Starting next year, the availment package will be reduced to Php 160,000 and earnings will be 45% interest after 35 months.

With this agri-business venture, I have a notarized contract which stipulates all the terms and conditions of DV Boer Farm.  With regards to payout schedules, they are posted in the Paiwi Online web application.

The company is legitimate and has subfarms throughout the country.

I must say I am glad I availed this package. I still have my job in the company I work for and I have passive income.

I would still like to have my own business someday. I just need more preparation. As of the moment, I will keep the passive income separate and continue to re-invest the income I earn from it.

If you want to read my updates on my succeeding payouts, you can read my latest blog entry Goat Paiwi Program: My Passive Income Update.

Building My Retirement Fund

Retirement is one of my worries as a single parent even though I know I have been funding it. Why does it worry me? I know how my father’s SSS pension is not enough for his monthly needs. He still works as a consultant to augment his and my mom’s daily needs.

After having attended the Associate Financial Planner’s Training early this year, I was able to compute how much I will need for my retirement. With that, I decided to find more ways to build my retirement fund.

Retirement is something I would really like to look forward to.  Having that said, here are the things that I have been doing in order to build my retirement fund.

1.  I have been investing in the stock market through Citisec Online since 2014.  I will continuously invest in the stock market.

2. I availed of Sun Life’s My Future Fund 2040 two years ago. I am paying for it on a quarterly basis. My annual premium is P48,000.  I lessened the insurance coverage on my My Future Fund 2040 so that the premiums will be placed on the investment.

3. Our company has a retirement plan and mutual savings fund. I became eligible after one year of continuous service in the company. In this plan, my employer will contribute 4% of my basic salary on a monthly basis. If I reach three years tenure, my employer will contribute 5% of my basic salary on a monthly basis.

On top of that, I enrolled in our company’s mutual savings fund. I am currently contributing 2% of my monthly basic salary. I plan to increase this once my daughter finishes college education, which is six years from now.

Vesting starts at 30% for at least three years of service, increasing 10% per additional year of service from years 4 to 10. Full vesting is attained at 10 years of service.

4. Since the stock market is volatile, I researched for other alternative investments and discovered Vidalia Lending Corporation (https://vidalia.com.ph).  With this company, you can invest in loans. It is like FundKo. The difference of Vidalia Lending Corporation is that it is a managed peer-to-peer lending company. You don’t have to choose who to lend money to since it is the company who will do it for you. They also handle the collection of loans.

Vidalia Lending Corporation guarantees returns on your investment. You can earn as much as 18% in interest earnings for a 12 month term. For this year, I invested P72,000 for three months with an interest rate of 3.5%.

Upon placement of my investment, I received an email with my investment confirmation. Instead of having the check delivered to my house, I opted to pick it up in Vidalia Lending Corporation’s office.

After this initial investment placement matures, I plan to re-invest it for another three months. Why not re-invest for one year? I plan to add to this placement on January 2019 when my remaining leaves are encashed. That is the time when I will invest it on a twelve month term.

I know I can make additional investments anytime. I just want to be organized and have a single check for this purpose. I want to be able to track my retirement fund in an organized manner.

All these four items comprise my retirement fund. Some people may think I am uptight. Reality is I have only myself to rely on. It is better to have a plan for this very big goal.

Retirement is something I would really like to look forward to.  It would be the stage in my life that I would like to see myself be involved in charitable causes.

Real Emergencies and My Emergency Fund

I used to work from home previously for eight years and three months. Back then, I was working as an Independent Contractor for a company in Ireland. My contract was an open-ended contract and it offered me no benefits. It was a no work no pay contract. But I was paid on an hourly basis and charged if I was called during my on-call schedule.

I realized that I needed to learn to be wise with money. I saved for a lot of goals as I wanted to maximize my earnings that time. I saved for emergency fund, personal retirement fund, and college fund. I even zeroed out my consumer debt. By the time my house was fully paid, I adjusted my emergency fund to the reduced monthly expenses that I had.

In 2015, I decided to go back to the office. I needed benefits like leaves. It took one year for me to be hired. And I was really excited!!!

There were a lot of projects going on when I was hired. I also had to work overtime and some weekends. On my third month at work, I felt some chest pains. I went to the outpatient department in the hospital near my house for consultation. Since there was no doctor that time, I was told to go to the ER. And then, I was confined for four days. After that, the doctor instructed me to be on bed rest for a week.

I was not a regular employee yet that time. The time that I was confined and on bed rest, I knew that I will not be receiving any pay. Thankfully, for the first time in my life, I did not panic. Why? I have an emergency fund. And I was ready to use it to cover the expenses for two weeks.

I also had 65 hours of overtime and I don’t have overtime pay because of my position.

Can you guess what happened?

My boss allowed me to use my 65 hours of overtime and convert it to lieu day. This is actually a policy in our company, that we can convert our overtime hours into lieu days and it should be taken within three months.

I was very thankful for that.

I was also thankful to myself because  I did not have to worry should I touch my emergency fund to cover the two weeks expenses.

Emergencies are real. They can happen anytime. We should be prepared when emergencies happen. What about you? Have you had any emergency?

For single parents, the emergency fund is our best line of defense. I hope you learn something from my story.

Senior High School Voucher

Since the K-12 program was implemented in the Philippines, a lot of parents complained about the additional expenses that they will incur in sending their children to school.

In line with this, the Department of Education introduced the voucher program for Senior High School students. This is intended to subsidize the tuition fee of students enrolled in private schools.

For this benefit, it should be the student who has to apply for the voucher. When I called the school, I asked if I can apply for it using my daughter’s email address. The person who I spoke to in the Guidance Department told me it was alright to do so.

I applied for the SHS voucher online on January 2018.  I actually had to call my daughter’s school since I had questions in submitting documents. The people in the Guidance Department were very approachable and they actually helped me in submitting it.

After submitting it, you will receive a receipt of your application.

It took a while for it to be processed. I am glad that my daughter is a qualified voucher applicant. The certificate looks like this:

My daughter is already enrolled for her first semester in Senior High School. Upon submission of my daughter’s remaining requirements, I also submitted the Qualified Voucher Applicant Certificate. The Admissions Officer I spoke to informed me that the funds are usually available on the second semester of the school year.

The validity of the SHS Voucher certificate is until Grade 12, school year 2019-2020.