July 2009 Archives

Karen Galarpe THANKS to a perplexed Senator Juan Ponce Enrile wondering where his cellphone load went (it was traced to unauthorized downloaded ring tones), cellphone charges have come under scrutiny. Prepaid cellphone users have in the past complained about being charged for promo texts and other unwanted stuff but no action was taken. So now the National Telecommunications Commission (NTC) is tripling the shelf life of prepaid cellphone load. Effective July 19, prepaid load will have the following shelf life: P10 to P50 load: 15 days more than P50 to P100: 30 days more than P100 to P250: 60 days more than P250 to P300: 75 days Text spam or unsolicited promo texts will also be banned, and this will take effect on July 23. Hip hip hooray! (Read news story here.) Now I wish the NTC will also look into prepaid broadband load charges. Smart Bro, for instance, charges P10 for every 30 minutes, but has a 30-minute block metering that seems disadvantageous to consumers. For instance, if you use your load from 2:00 to 2:20 p.m., consumption will be counted as 30 minutes. Then if you connect again from 2:31 to 2:41 p.m., that will be another 30 minutes shaved off the broadband load. Is there a way charging can be done by the minute, like they do with cellphones?

CHILDREN ARE like sponges; they generally absorb knowledge fast. Parents can take advantage of this wonderful time by teaching them about money early on. In Rich Kid Smart Kid, author Robert T. Kiyosaki wrote: “I am often asked, 'At what age should I start teaching my child about money?' My answer is, 'When your child becomes interested in money.'” Lifestyle trainer Chinkee Tan, author of the book Till Debt Do Us Part, shares that kids can be taught about money as early as four years old. “Here are the ages at which a child can start learning about money,” says Chinkee, “and the kinds of things he or she is probably able to learn at that stage: Ages 4-5: What Money Does and Is Show the connection between what your child wants to buy and the money needed. Ages 5-6: Where Money Comes From Reward for good behavior or task completed should be EARNED. Ages 7-8: How To Save Set aside a portion of every peso your child receives from loved ones or relatives as savings. Teach your child the value of savings. Ages 8-11: How To Invest Your Money Wisely Save money through banks and other financial institutions. This allows the child to understand the effect that interest has on his or her money.  Ages 11-14: How Money Works Money can be generated by getting into business. Money issues like borrowing, making loans and its effects should also be discussed. The goal is for the child to understand the pros and cons of borrowing. Ages 14-18: How to Make More Money At this age, a child also needs to understand how these things work: personal budgeting, overdrafts, credit cards, bank charges and so on. The goal is for the child to be independent in handling his or her personal finances.” Here in the Philippines, money is taught as early as preschool. It is part of the Math curriculum. But always supplement at home what is taught in school.