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PHILIPPINE ASIAN NEWS TODAY February 1 - 15, 2016
Kris Aquino: I am back, slightly
altered and hopefully improved
How much can you afford, really!!!
Most of us, when we are looking or shopping for the right vehicle we
often forget so many thingslike how much really can you afford in
buying a vehicle. Especially when we visited the Dealership with so
many nice and beautiful cars around us.
Control Your Emotions
“Don’t overbuy, All too often, emotions overrule the “need” and people
get into trouble. If you can’t afford it, don’t buy the car.”
One way many consumers get into trouble is by not understanding the
difference between qualifying for a loan and being able to afford one.
Determining Your Debt-to-Income Ratio
You can also figure your own debt-to-income ratio, to gauge your ability
to repay a loan. Add up all your monthly installment payments such as
car payments and credit card payments (do not include regular living
expenses like rent, mortgage, or utilities). Divide the total by your
monthly take-home pay, after taxes and other withholdings have been
subtracted.
The resulting percentage is your debt-to-income ratio.
Keep your debt-to-income ratio below 15 percent. If your figure shows
a ratio already higher than that, you should not attempt to buy a car with
payments at all until you pay off at least some of your credit bills.
If your ratio is lower than 20 percent, a lender probably will grant you
a car loan, but you should do more figuring to determine if you really
can afford it.
Kris Aquino revealed she went “silent” on social media for a few weeks
after settling some issues in her life.
In a blog post on her personal
website With Love Kris Aquino on Sunday, the 44-year-old
TV host-actress said
she has learned to
keep certain details of
her life private.
She said: ‘I purposely stayed away
from social media...
because there were
professional issues
we needed to resolve,
and Thank You, Lordnatuto na ko that by
being outspoken and
sharing details with
all of you, mas hahaba ang proseso at
mas malabong maayos sa mahinahon
at mature na paraan.’
But the “Kris TV” host said that
while she knows her fans and followers are important, her “silence” made
her realize that, “The rest of my life, I
owe to my siblings and sons to keep
among us.”
“Alam nyo na pinaka sensitive ako
when it comes to my family, somehow
pag silang tinira, no matter how much
I want to ignore the bashers and haters, the part of me that
needs to stand up and
defend my loved ones is
unleashed, and bahala na
si Batman, lalaban ako.”
Kris also admitted that she and James
Yap, the father of her
son Bimby, recently had
a misunderstanding but
they “managed to reach
a certain level of pacification.”
Kris made the headlines several times last
year, due in part to her personal life
and her on air and social media comments about her family.
On another note, wonder if it’s
true that “Kris TV” will undergo a reformat. The new “Kris TV,” if reports
are true, will be a talk show. And Kris
Aquino will have a co-host.•
The Whole Picture
Ownership costs for a vehicle—things like insurance premiums, gasoline,
and maintenance expenses—don’t show up in either your credit report
or your debt-to-income ratio, but they do affect your monthly bottom
line just as much as other regular, unavoidable expenses such as rent or
mortgage, utilities, and even grocery bills. And it is these that can spell
the difference between
comfortably affording a new car and being “car poor”—owning a vehicle
that crimps your overall finances.
The Bottom line Calculations
It’s important to remember that, a lending institution determines that
you’re qualified to borrow more than you’d calculated on your own
doesn’t necessarily mean you should discard your limit and accept
theirs. You know the details of your expenses and budget better than
anyone else, so be careful about accepting higher limits too quickly.
When in doubt, it’s better to be conservative
and stick with your own calculations and even gut feelings. After all, a
new car should complement your lifestyle, not compromise it.
I welcome letters or inquiry regarding your experiences in purchasing a
car or questions before buying the right vehicle for you.
This column may not be the perfect solution but I know these can help
you decide the right car, somehow.….
CARnerly Yours,
Jerry Pineda
For some comment, letter or suggestions: Call me at 6047105404 or email me
at [email protected]
UFCABC officers meet
United Filipino Canadian Association of British Columbia on their monthly meeting held
at Max Restaurant in Vancouver. Discussion was focused on the Independence Day and
Gala Night celebrations for this coming June 2016. (Photos by Salve Dayao & Janice Lozano)
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