The City Rat

Getting a new credit card can be exciting. It provides a handy financial tool to help manage your money. Credit cards allow you to make purchases or access cash instantly without having to carry around a lot of physical currency. When used responsibly, credit cards are an excellent way to buy what you need without …

Retirement Planning /Protect your nest egg!  Don’t fall for get-rich-quick schemes. Learn how to safeguard your retirement savings with these 5 crucial investment tips. Retirement years should be a time to relax and enjoy the fruits of a lifetime of hard work. However, this is also a time when protecting your hard-earned pension is critical. …

Financial Freedom:  Less clutter, more peace! Explore the benefits of downsizing in retirement for a simpler, more fulfilling lifestyle. Retirement is often seen as a time to simplify life, to shed the excess, and to focus on what truly matters. One powerful way to do this is through downsizing—reducing the size of your living space …

Tax Identification Numbers / Unemployed but need a TIN? We break down who exactly needs a Tax ID Number in the Philippines. Many people in the Philippines may wonder if they need to get a Tax Identification Number (TIN) if they don’t currently have a job or source of income. The answer is – it …

eWallets / Cash is going extinct as eWallets take over in 2024!  Is this the end of money as we know it?  The year 2024 is being heralded as the extinction event for cash. Physical currency is rapidly going the way of the dinosaurs in favor of mobile and digital payments. At the forefront of …

Financial Mistakes:  Don’t let these money mistakes wreck your financial future! Get back on track Personal finances can be complicated, but avoiding these common money mistakes can help you take control of your financial health: 1. Living Beyond Your Means It’s tempting to splurge on material things like clothes, gadgets, and meals out, especially in …

Annual BIR registration fees cease under the Ease of Paying Taxes Act. We explain the specifics that taxpayers and companies in the Philippines should know. The Bureau of Internal Revenue (BIR) will cease collecting annual registration fees from businesses per Republic Act No. 11976, known as the Ease of Paying Taxes Act. This new law …

Philippines substituted tax filing / Qualify for your employer to file income taxes on your behalf.  Read this guide to substituted filing eligibility. Filipinos employed by companies are often eligible for substituted filing of income taxes. This means the employer files and pays taxes on the employee’s behalf. If you receive a BIR Form 2316 …

Is the age of cash and cards winding down? How mobile payments are ushering in a cashless society in 2024. The old leather wallet filled with cash and cards is beginning to look more like a relic with each passing year. This year is shaping up to be a pivotal time in the transition to …