August 25, 2005 7:28 PM Thursday, Jacksonville, Florida

Knowledge is power!

Knowledge is power, says Eddie Baron.  Well, in today’s society, with all these identity theft and scams going around, being an informed and up-to-date consumer is the strongest power to combat the fraud.

Here's what I learned recently from mandatory job training at work. One good thing about my job is, it keeps me abreast of a few very important issues that have been going on in the market place.  I have heard a lot about FICO scores and credit reports before but it never occurred to me how important it is and how to keep track of it legitimately until recently. I have yet to see what a credit reports look like and didn’t even have a single clue as to what our FICO scores are, not even when we applied for our second home mortgage early on this year. It's just that it didn't bother me before and I don't worry about it because I knew the fact that we have managed to keep up with our bills on time--never had a late payment history yet besides knowing DH has a clean records when it comes to any type of credit before we got married.

Well, the recently passed Fair and Accurate Credit Transactions Act allows every consumer a free yearly credit report from each of the nationwide legitimate consumer credit reporting companies: Equifax, Experian and TransUnion. So check out the Annual Credit Report online.

Be sure to take advantage of this free offer once a year. Checking your credit report every year is imperative because it gives you the chance to see the whole picture of your credit reports and have that inaccurate information in your file corrected as early as possible so not to wreck havoc on your credit report.  It can also alert you to signs of identity theft.

I just pulled out ours--mine and DH’s most current credit reports from all three credit bureaus for free although I had to pay $6.99 each to get a copy of our FICO scores. FICO scores range between 300 and 850.  I am very pleased to see that after obtaining a second home mortgage in January of this year; our FICO scores still hit 735 points!

Surprisingly, I couldn’t believe right in my eyes that I, by myself alone, have opened 21 accounts in 6 years! Nineteen (19) of which are in good standing and 2 had unknown monthly payment history—one of those 12 months No Interest No Payment Plan credit cards I’ve used before. Yeah, I skipped one  payment in a month because it's No Interest No Payments for 12 month anyway and I know I paid it off in full  in less than 6 months.  Now I know that even if the offer is No Interest No Payment in 12 months, the credit bureaus still expect me to make payments every month after all. Bummer!!!

Well, I thought of closing all these open accounts with zero balance but I just learned not to close old, unused accounts in good standing because they actually help to improve my FICO score.

Over all, I think I did pretty good in handling credit cards. I should thank DH and MIL for keeping me straight then. Thanks Darling and Mom :-) Thank goodness, I never had any history of racking up credit card debts at any point of my life yet.   Never had a late payment either as I always make sure to pay it on time and pay it off in full prior to the due date and then I get too excited to use them again. Man, I can't get rid of this habit of using my credit card once it is all paid off. Well, at least I have yet to max out any of my credit cards... I recalled I almost did max out one particular VISA card at one point during Christmas season but DH and MIL keep reminding me to stop using credit cards instead use the  debit card which means If I don't have enough funds on it, I can't shop anymore. However, I always reason out, “But Mom, I get 10% discount by using the store’s credit card and I pay them off in less than 30 days anyway thus it helps build-up my credit history". Sure enough, I was darn correct because right now; I sure beat DH in terms of FICO scores simply because he detests using his own credit card on a regular basis.

Some tips

When you filled out credit card apps, be sure to initial and date the portion that says NO in the Debt Cancellation offers because if you don't, the processing clerk sometimes just automatically signed you in for it and that's about $1.45 per hundred, per month!  Of course you can always call customer service to cancel the debt cancellation charge later on if you noticed it in your first bill but just save yourself a hassle of going through it later.

Make sure you read the fine prints:  12 months No Interest VS 12 months No Interest No Payment Plan.

• 12 months No Interest means it's no interest for 12 months as long as you pay it in full within 12 months. However, this plan requires you have to make that minimum payment every month on time otherwise you get to pay the surcharge--late payment of $20+.  Now, if you don't pay the bill in full after 12 months, the interest starts from the date of purchase compounded monthly.
   

• 12 months No Interest No Payment, this plan doesn’t require you to make payments every month so long as you pay the bill in full on or before 12 months otherwise the interest starts from the date of purchase compounded monthly. However, take note of this.  If you don’t make any payment every month the credit bureaus consider this account as not a good standing account although they didn't classify it as bad account either.
   

• Revolving account. Make sure you pay it off in full on or before 30 days so you won't pay any interest at all.

One very important thing to do

Make sure to make a ledger/book of your own accounts using any spreadsheets program to keep track of every payment you made in your car loans, home mortgage, credit cards and any type of credit instead of relying to your creditors/lender's record.  Everybody makes mistakes even the computer does.  It happened to us before without us knowing or at least until something occurred (forgot what it was) but we used to pay our condo mortgage by check and for some strange reason, the payment was credited/posted into a different account and not to our mortgage account.  Man, we had to go through a big hassle of going back and forth to our bank and the mortgage company to resolve the issue.  Basically our bank had to dig out their records to show proofs that the check we issued has been cleared on that particular date.  From that time on, I make my own ledger book and keep track of everything we pay either online or by check and make sure it reconciled with the lender's record.  You can always check if your payment has been posted in your account by phone or online.

Some facts about FICO® scores
Excerpt from the Speaker's notes

What is FICO score means?

A FICO score is a credit score developed by Fair Isaac & COmpany. This Minnesota-based company developed the so called FICO score, the scoring system lenders use to qualify the borrower for any type of loan or credit. It means your FICO score often determines the credit you receive - both the size of the loan you qualify for and the interest rate for the loan.

For most cases, the borrowers with high FICO credit scores are usually offered lower interest rates while those with low FICO scores may still get credit but will have to pay higher interest rate.

However, take note of this, having a high credit score doesn’t guarantee you’ll be approved for a loan. Lenders also take into account the information about your income and your job as well.

While some people say not having any debts or credit card means you will have a high credit score. NO, that is not true! In order to get your FICO credit score you must have at least one account which has been open for six months or more and you must use your credit responsively.

The higher your FICO® scores, you the less you pay to buy on credit – no matter whether you're getting a home loan, a car loan, or signing up for credit cards.

For example, on a $150,000 30-year, fixed-rate mortgage using today's national rates, a person with FICO scores of 760 or better will pay $148 less per month for a $150,000 30-year, fixed-rate mortgage than a person with FICO scores below 620 – that's a savings of $1,776 a year. You can see that it pays – literally – to improve your FICO scores

Your FICO® Score	Your interest rate
760 - 850	5.58%
700 - 759	5.80%
680 - 699	5.98%
660 - 679	6.19%
640 - 659	6.62%
620 - 639	7.17%

Understanding Your Credit Score

Many different formulas are used to calculate credit scores, and each scoring model weighs differently, but most are based on the following factors:

     1. Payment History
     2. Amounts Owed
     3. Length of Credit History
     4. Public Records
     5. Collections
     6. Inquiries
     7. New/Existing Accounts
     8. Type of Credit
     9. Public Records or collections item on your credit file

Improving your score is a worthy goal but don’t fall for solicitations from credit repair clinics claiming to clean up/fix your bad credit report for a fee.

Here are the Top Seven Ways to Improve your Credit Score:

     1. Check your credit report and correct any errors you spot.
     2. Pay all your bills on time and never skip payments, big or small
     3. Keep your credit card balances low by paying more than just the minimum
     4. Don’t charge any single credit card or credit line to the maximum
     5. Avoid opening new credit accounts unless absolutely necessary
     6. Don’t close old, unused accounts in good standing—they
         actually help your score.
    7. When shopping for a car or home loan, make all inquiries
        within a 45-day period.

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.

The Financial Experts recommends keeping your debt-to-income ratio below 15 percent. If your figuring shows a ratio already higher than that, you shouldn't attempt car 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.

To determine a complete picture of your finances:

·         Total your monthly living expenses—those mentioned above, plus any other amounts you pay each month apart from installment loans and credit card debts.

·         Total also any annual expenses you have—such as insurance premiums, retirement funding, automobile registration fees, or yearly dues—and divide the amount by 12.

·         Add the two amounts determined above to your monthly installment credit expenses determined earlier.

·         Subtract the grand total from your monthly take-home pay.

By this process you determine all your expenses (not just those that interest potential lenders) and subtract them from your available income. The amount remaining is the sum you can afford to spend each month and still maintain your current habits.

Those are pretty much the new things I learned recently from my job training.  I also like to tune in to Suze Orman show on TV. Well, I am sure everybody knows she is one of the most trusted financial advisors in the world today. 

 My next job training-voluntary. 

Real Sense Prosperity Campaign
Make a Difference: A Hands-On Community Service Opportunity

Become a certified tax preparer--Free training!  IRS certification for individuals with previous tax experience. Everything is provided: software, computers, supplies and taxpayers!
Then volunteer a few hours per month to prepare taxes for those unable to afford it.
Flexible hours: daytime, evenings and/or weekends, January through April 15
Make a difference in someone’s life by helping our community’s most vulnerable citizens lift themselves out of poverty.

August 15, 2005 8:12 PM Monday, Jacksonville, Florida

 

The first Filipina to hold an Executive post in the White House

It was around 2 o'clock this afternoon when Dr. G, our HR Director came by to tell us (Ate Perla and I) the latest news in the White House. He asked, "Do you know that the new Executive Chef in the White House is a Filipina?" 

I replied, "Yeah, I overheard about it on NPR news this morning, but I didn't get to listen to the whole story when the phone rung.  Wow she must have been really good eh? I wonder what she cooked that made the First Lady liked her that much and chose her over the others".

Dr. G butted in, "She must have been cooking dinuguan!" And we burst out laughing. (Btw,  Dr G is a white guy but was stationed in the Philippines for many years during his Navy life so he is aware of some Pinoy stinky cuisines).  My boss wondered what was so funny about the topic of our conversation so I told her what dinuguan dish is made of. She almost choked and thought that was yucky. 

Anyway, here’s the detail of the story from Fox News:

White House Hires First Female Head Chef
Sunday, August 14, 2005

WACO, Texas — Kitchen duties may have traditionally been viewed as women's work, but not at the White House. Until now:

  Cristeta Comerford has been named Executive Chef.

After an extensive six-month search, first lady Laura Bush announced Sunday that Comerford was chosen from hundreds of applicants to head the executive kitchen. A naturalized U.S. citizen from the Philippines, she will be the first woman and first minority to hold the post.

The 42-year-old Comerford has been an assistant chef at the White House for 10 years. She worked under former executive chef Walter Scheib III, who resigned in February.

Scheib said Sunday that Comerford was hands down the best assistant he had in his 30-year career and is a wonderful choice to take over. He said she is a great cook with an artistic eye and a calm demeanor that can handle the pressure cooker that is the White House kitchen.

"People keep talking about how wonderful it is that she's a woman," Scheib said in a telephone interview. "If there is value in the gender, that's fine and dandy. But I say she's a great chef who happens to be a woman."

While being executive chef at the White House is prestigious, the job also can be grueling. Comerford will be in charge of whipping up everything from state dinners for world leaders to munchies for the commander in chief, his family and guests.

As many as 2,000 guests per month are fed at the White House. Mrs. Bush has signaled her intent to do more entertaining than in the first term, when festivities were taboo after the terrorist attacks on Sept. 11, 2001.

Mrs. Bush said she was delighted that Comerford accepted the job. "Her passion for cooking can be tasted in every bite of her delicious creations," the first lady said in a statement.

Mrs. Bush has been trying out finalists for the job, asking them to prepare test meals at special functions and private meals at the residence.

Comerford developed the menu for last month's honorary dinner for Indian Prime Minister Manmohan Singh. The 134 dinner guests dined on chilled asparagus soup and lemon creme; pan-roasted halibut, ginger-carrot butter, basmati rice with pistachio nuts and currants and herbed summer vegetables; and salad of Bibb lettuces and citrus vinaigrette.

Comerford will have ample opportunity to oversee more simple fare — the Bushes are known for staying in most nights rather than socializing like their predecessors. The president has a liking for cheeseburgers, peanut butter and honey sandwiches and, of course, Tex-Mex and barbecue.

The first lady's press secretary, Susan Whitson, said Mrs. Bush chose Comerford while spending August at the Bushes' Texas ranch. The job was offered to Comerford on Friday by the White House social secretary, Lea Berman, and head usher Gary Walters.

Whitson said Comerford then left for a vacation to a foreign country that the White House would not disclose and was not available for interviews Sunday.

Comerford has a bachelor's degree in Food Technology from the University of the Philippines. She has worked at Le Ciel in Vienna, Austria and at restaurants in two Washington hotels — the Westin and the ANA, which has since changed ownership.

The head chef is responsible for designing and executing menus for state dinners, social events, holiday functions, receptions and official luncheons hosted by the president and first lady. The job pays around $80,000-$100,000 a year.

Mrs. Bush's statement said Comerford has been trained in French classical techniques and specializes in ethnic and American cuisine and has experience working with chefs in San Francisco and the California wine country.

Hillary Clinton hired Scheib, a California native and graduate of the prestigious Culinary Institute of America, in April 1994 because she wanted to feature American cuisine after years of French cooking ushered in by Jacqueline Kennedy.

Scheib has started his own business planning private events and is writing a book that will include recipes and tales of working for the Clintons and Bushes.

"We're not doing a dishing-the-dirt, not at all," Scheib said. "It was an honor to be there and work with the families. I wouldn't want to do anything to embarrass them."

August 11, 2005 7:23 PM Thursday, Jacksonville, Florida

 

Six years in the US and counting!

Today is my 6th year anniversary in the US. I still remember vividly the day, August 11, 1999 to be precise when the plane landed in Jacksonville International Airport in Florida. While listening to the warm welcoming voice of a flight stewardess on the PA system announcing our arrival, I can't help but wonder whether or not this country is going to be the right place for me to raise a family.  I never had any doubt about my Darling Tony's love, his character and our intention to get married then yet the thought of trying to adapt to a new country, new culture and new family has terrified me a bit.  As soon as I disembark from the plane and came out to the arrival area, I saw my Darling Tony with a priceless grin in his face and an opened arms ready to hold me tight.  With him, in both sides, were his own mother and brother who joined him in welcoming me to their family and country.  We hugged and kissed and thanked God for allowing us to be together again.  The rest is history :-)  {You know at one point, when we were still planning a wedding, I tried to talk Tony into moving in with me in the Philippines because I wasn’t ready to uproot myself from what I have grown up with for 30+ years thus leaving everything behind was more than what I can handle at that time. However, he thought we would be better off living in the States than in the Philippines. So we made a compromise that we will try FIRST to live in the States for at least a year or so and if I am not happy with it, he promised that we can always go back to the Philippines and live there for good}

Six years later, here I am, very much at home and pretty much settled in this land called the place of the brave and the free.  I couldn't be any happier than this. I know deep in my heart that our life is not going to get any better than this had we chose to live somewhere else in the world.  My marriage continues to be a bliss yet lacking one thing--a child. Gee, I am now seeing countless of strand in a shade of gray in my head which tells me another thing.  "Rhebs, you are not getting any younger anymore!"  Even so, life has to move on.  I resigned to the fact that if I ever don’t pregnant naturally so be it. We are definitely not going to do any drastic move to adopt a child nor seek the help of any of these ‘high tech’ interventions of Science and Technology--In Vitro Fertilization or Artificial Inseminations just to have one because having no kids at our home means complete freedom... more so it means I can continue working and be able to send financial support to my folks--sick parents and sister in the Philippines and hopefully be able to send all 13 (and counting) nephews and nieces to school. Plus a pleasure anniversary trips anywhere in the world is a big prospect in the near future eh? To start off, in a few weeks from now, we will be off to celebrate our 6th wedding anniversary in Niagara Falls, Canada :-)

So as you can tell, I also have bunch of ‘parasites’ myself back home not counting the hungry, sick and dying sons and daughters of relatives, friends and neighbors in the hospitals and etc.  Jesus Christ, have mercy on us!!! Why the hell in the world do these couples continue to multiply--give birth one after the other every year or so knowing that they have no job or if they do, their meager income hardly able to buy stuff to feed and clothe these poor kids!?! I just don’t get it do you?

In relation to the above statement, ten years ago, after getting sick and tired of hovering with my irresponsible eldest brother to get a vasectomy subsequent to his wife popping out 5 kids in 6 years, I had to turn around to brainwash his 25 year old wife then (my first sister-in-law) to go to the clinic at my own expense to get her thing fixed so that we can put an end to her seemingly prolific child bearing years. I would have done the same exact thing to my own dim-witted, martyred mother back then had I been grown up and working like I was fifteen years ago. I am so glad the rest of my 6 married siblings had come to their right senses that following the footsteps and the dogma of our great-grandparents, grandparents (14 children in the father side and 12 in the mother side), parents (11 children) of having a big family is wealth, is the most unwise thing to do in this world.

Here's another kicker. I have few close friends and relatives whom I lost contact forever after refusing to answer their plea about money.  They probably considered me dead by now. People back in the Philippines just don’t get it no matter how many times I tell them money here doesn’t just come easy with no sweat contrary to what they would like to believe. Like anywhere else you live in the world, people earned money by working hard, hard enough to bust off their butts so they can make a living out of it! We do the same thing here too in the States.  See, people back in the Philippines failed to realize that the hard earned dollar here also goes to dollar spending, for crying out loud. Besides do these people expect me to work and work even harder in order to help them out while they all sat their lazy butt off watching TV, drinking bottles of wine and then have sex with their wives once they had gotten drunk? HELLo!?!?  We work hard enough to be able to afford the lifestyle we want for ourselves and family; secure our future and help out our other family members if we can.  I have no problem helping out the extended family members, relatives, friends and neighbors who are in dire need.... if and only if we are able to... but for Pete’s sake, we don't produce Hollywood movies ourselves and make money that way. We are merely a rank n' file employees which means we make a little bit more than the mandated minimum wage in the US. Now, if we have spare amount to share, of course our family comes first thing first!!

Oh no! I got carried away.  I shouldn't continue this litany otherwise I may end up having a high blood pressure!

August 1, 2005 8:57 PM Monday, Jacksonville, Florida

 

The Summer Bash!

August is supposed to be the hottest month of the season. But a heat wave already slammed the West coast with the triple-digit temperatures in July and blamed to have killed hundreds of people due to heat exhaustion and dehydration. Here in Florida the heat index went as high as 98F in the last couple weeks and believe me this can go worst in the couple of days ahead.

Summer is the season I awfully dislike the most in Florida because of hurricane and the hot weather—hotter than the Philippines due to high humidity. Thanks to air conditioner but I hate it when our electric bills go up to $300+ per month! For westerners, summer is a perfect season for beaches and their quest to get a perfect tan. We live 5 miles away from the Beach but I have no intention of going there this time of the year. You know most Pinays are going to great lengths to avoid the sun and the beaches. In fact, most Pinays go through a beauty regimen using different type of skin-whitening products (I never had and will never use any of these skin-whitening products--I only use lipstick--that's it) because having a fair complexion or lighter skin for Filipinos is the feminine ideal of good looks. Well, not here in the States. Western women thought having a real tanned skin represents true beauty. It really surprised me when I found out white women here are willing to spend thousands of dollars just to get tan. One of my colleagues said she would die to have my skin color.

Modestly aside, I am truly engulfed to hear overwhelming compliments both from white/black guys at work saying I truly am cute and beautiful because of my skin color ;-) I never heard such compliments from men back in my own country of origin. Even my own father thinks I am such an ugly lass that is why I grew up with such a low esteem believing I was indeed unattractive. Little did he know pang international ang beauty ko ;-)  You see my self-esteem has gotten better when I meet my DH although at first I thought he was biased and I know he does it just to electrify my ego.  But now feel na feel ko na I am really beautiful in the eyes of an older western men! LOL I don’t know but it seemed as if my beauty is more marketable with older men aged 45-60. I guess my age is also creeping on me :-)

Speaking of which, one of the managers at work tried to make a pass on me at one time. He doesn’t really know me that much because he’s new in the company and he only gets to see me at work one day in a week. The first few encounters were all nice and friendly and he even patted my shoulder few times for doing a great job which I didn’t mind at all. I was just happy he’s very appreciative of my performance at work. But then the last weekend when I went to see him in his office regarding a customer issue, he asked me this silly question despite seeing my finger with engagement and wedding band, “Rhebs, are you married?” I responded with a bragging tone, “I sure am Sir. Add to that I am happily married too”. He reckoned, “Happily married!?!? Man, that’s even worst! Anyway, do I look like I don’t make enough money to get a date?” I looked at him sharply and said in a harsh voice, “WHAT THE HELL IS THAT SUPPOSED TO MEAN!?!” He apologized sincerely and said that the question had nothing to do with me and that I misunderstood what he meant. I walked out and ignored him like he never exists in my world from that time on. What a jerk!!!

Last Harvest

Our garden is slowly dying. Here in Florida, we only get to enjoy the blooming flowers and the fruit bearing plants in April-May-June and early part of July. I did the last harvest of cherry tomatoes, peppers, eggplants and kangkong over two weeks ago and now they are all dying except the calamansi dwarf tree in the pot.

   

 

Happenings

Two weeks ago, I attended the christening of Eimee and Noel Carandang’s daughter at Holy Trinity Church. I was one of a dozen of ‘Ninangs/Ninongs” (Godmother)—typical for Filipinos eh? Eimee and Noel is a Filipino couple and both are registered nurse. Eimee was my maid of honor in our wedding. She used to work on a PRN basis in the same hospital with DH. She’s the only out of many Pinays in the gang who never discouraged DH to pursue a long distance relationship with a pinay from the remote province of Mindanao. The rest of the gang did their best to dishearten DH’s intention to marry me because they all assumed I am a Muslim and green card hunter. Isn’t this one of the crab mentalities of Filipinos though? It's a shame!

     
More photos here

Anyway, last weekend, DH and I went for a short ride to Orange Park to visit Bill, Marie and Baby Will in their brand new home. Oh boy when we got back I really got so tanned. So this weekend I decided to stay home and volunteer to baby sit Bill and Marie’s son so they can relax and finish whatever chores they needed to do for the weekend. I enjoyed the day with the baby while DH worked on his bike and went for a short ride around. I was telling DH that if all the kids behave like Baby Will, there would have been less cases of postpartum depression huh? Will is almost 6 months old and he is such a good and happy baby. He didn’t cry not even when his diaper is wet and full and his stomach is empty. Well, I fed him every two hours or so and he just went to sleep quietly afterwards. He gets up after an hour or so, and when I start talking to him he would just smile and open his mouth like a fish. I never had any problem with him all day long.

   
More photos here